[farnja]

I read the article and don't come to the same "generous" conclusion. You've got a visionary, well-respected, CEO running a very (by many, but not all metrics) successful business with a lot of runway. The result is analysis that runs from calculated, to wildly optimistic, to delusional. There are people afraid to miss the boat if Amazon conquers the world and people already counting their millions as they wait for what they assume is inevitable. Amazon has the benefit of being a very proven business with sustainable competitive advantages, but at the core, this is no different from any of the other speculative manias in financial history. Amazon shareholders could be right, they could be wrong - I'm not good at predicting these things - but they're definitely not generous. They're fearful, and greedy, and emotional, and human.