I read the same story multiple times: in 1994 he was working as a VP for an investment firm and by looking at at a report he noticed how fast the internet was growing, he listed 20 products he could sell online and eventually decided it would be books. A year later the Amazon website launched. Does this story sound incomplete to anyone?
Merely observing a positive trend doesn't seem like a good enough reason to start a business. What were the steps he took to validate the market? According to the story, he wrote a business plan and started looking for investors right away, he hired people and launched the website a year after. It seems inconceivable to me that he would call investors and invest considerable resources without validating his idea first.
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