On November 28, 2003 I appeared on CNBC for the first time, and the interview they conducted was perfectly fair. They asked me pointed, intelligent questions, and let me answer. We discussed sourcing and supply lines, as well as an issue related to Tiffany. They noted Overstock’s losses, but also noted that we had had a GAAP-profitable quarter (and questioned whether Amazon had or had not by that point). I was optimistic about the future, hoping that the trajectory that Overstock was then on (crazy-high growth with roughly break-even results, and a minimum use of cash) could continue indefinitely.
It did, in fact, continue for two years, through 2005. But around the end of 2005 our wings shredded and we had a tough two years getting things back under control. But at the time of this interview, things looked like they were on track.