Amazon Versus The Lyles

This is making the rounds today …

Foreign Affairs;

So the next time your broker tells you that this or that Internet retailing stock is actually worth some crazy multiples, just think for a moment about how many Lyle Bowlins there already are out there, and how many more there will be, to eat away at the profit margins of whatever Internet retailer you can imagine. It only costs them $150 a month and they can do it as a hobby!

Or think about it like this: For about the cost of one share of, you can be

The thing is, those Lyle Bowlins didn’t have professionals who understood things like branding, marketing, Internet infrastructure, customer support, warehousing, and more.

Really, if Friedman can’t see the difference between a hapless amateur opportunistically skimming some cream versus someone gunning to be king of the hill, what kind of analyst is he?

He would probably think Stephen King should be all a-scared of this little girl named Amanda Hocking!

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