Peter Kafka

Recent Posts by Peter Kafka

REUNITED! This Time, Jeff Bezos Bets on Henry Blodget.

henry blodgetHenry Blodget and Jeff Bezos, together again!

As Blodget explains on his own site, the Amazon CEO is personally leading a $5 million investment round in Blodget’s six-year-old Web publishing business.

By my count, that brings total investment in Business Insider to more than $18 million; via IM, Blodget tells me that the new deal values the company above the $50 million valuation it earned during its last round in 2011. (Because of my conflict of interest, this makes me happy.)

So there’s the nuts and bolts of the deal (for more background on Henry and TBI, see Ken Auletta’s well-timed piece).

The only other thing to spell out here is that this deal reminds you that life is long, and relationships last.

In 1998, Blodget and Bezos helped boost each others’ careers, when Blodget correctly predicted that Amazon’s stock would pass $400 a share (thanks to Patrick LaForge for catching my bone-headed typo). Blodget has remained an Amazon bull since then, and it looks like Bezos has stayed in the Blodget fan club, too.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work