The second quarter. Joining us from seattle is dave cotter, a former general manager at amazon, where he worked for jeff reseau's. he is currently -- worked for jeff bezos. He is currently at squarehub. Amazon stock got hammered today. As a former gm at amazon, what do you make of their latest quarterly results? I think it is kind of funny. I feel like we have seen this story before. Amazon is a company that makes very sizable investments to address, basically, consumer demand and consumption. I think we saw those previous investments 8, 9, 10 years ago in warehouses, so that customers could get their products faster, and investments in shipping. We are starting to see now a shift where those kinds of sizable investments are now happening in content consumption -- tv, game studios, movies. To me, it is not surprising, because the formula all along has been, invest heavily on behalf of customers, and those dividends will pay off down the road. I was kind of thinking, on the way over -- there is basically three kinds of constituents, if you will, in the amazon equation. The first is wall street. They obviously do not like it, or get upset when the profits or margins are not what they expected to be for a company that generates such high volume of sales. The middleman is the customer, and customers are delighted with amazon, because they are still spending more on prime. They are buying more stuff, consumer content. In the executive team, frankly, as long as those customers are happy, jeff and the executive team are going to be happy. We have seen this before. Since you worked at amazon -- you were general manager. You know jeff reseau's -- jeff bezos. They are bringing in revenues, but not earnings. What can you tell us about his thinking, that maybe makes the strategy makes sense? I do not know if i can speak to being in the head of jeff a's those -- jeff bezos. The core tenet is to serve customers. There is routine analysis on how to do that at her, faster, cheaper. To the degree that dollars are necessary to fuel that, you do that, sacrificing potentially near-term balance sheet profitability for long-term customer playoff. People at amazon do not sit around wondering, what are we going to do in 90 days for the next earnings call? They really spend their time thinking about what is best for the customer. How are customers responding to what we are doing, and what new businesses can we get into that are consistent with our core, but also help customers? I think jeff is pretty complicated, but also pretty simple. Do your best to serve the customer. In a snapshot, the culture at amazon -- what is it like, having worked there? Fax it is intense, probably some of the smartest people i have ever worked with in my career, a very intense. For some people, it is awesome and magical and a thrill. For other people, it can be challenging. I think there is a constant  This text has been automatically generated. It may not be 100% accurate.
Dave Cotter, CEO of SquareHub and former general manager at Amazon, comments on Amazon's latest quarterly results and explains what it's like to work for Jeff Bezos. He speaks with Carol Massar on "Taking Stock." (Source: Bloomberg)