Day 1：
【单词作业】
一、从句子看词汇
The former bookseller accounts for more than half of every new dollar spent online in America.
美国在线消费每增加一美元，就有一半多给了这家曾经的图书销售公司。
account for
释：If a particular thing accounts for a part or proportion of something, that part or proportion consists of that thing, or is used or produced by it. (数量、比例上) 占
例：Computers account for 5% of the country's commercial electricity consumption. 电脑占了这个国家商业用电的5%。
It is the world’s leading provider of cloud computing.
它是世界领先的云计算供应商。
Its own-brand physical products include batteries, almonds, suits and speakers linked to a virtual voice-activated assistant that can control, among other things, your lamps and sprinkler.
公司自有品牌的实体产品包括电池、杏仁、西装以及音箱。这种音箱与虚拟语音助手相连接，可以控制你的台灯、洒水器等装置。
That is because investors anticipate both an extraordinary rise in revenue, from sales of $136bn last year to half a trillion over the next decade, and a jump in profits.
这是因为投资人既盼望其收入猛增，销售额能从去年的1360亿美元涨至十年后的5000亿美元，也期待着利润飙升。
Ground for scepticism does not come much more fertile than this: Amazon will have to grow faster than almost any big company in modern history to justify its valuation. Can it possibly do so?
对这些期盼最有利的怀疑最有利的依据是：为了证明它的市值合理，亚马逊的增长必须快过现代历史上几乎所有的大公司。它能做到吗？
fertile
释：Land or soil that is fertile is able to support the growth of a large number of strong healthy plants. 肥沃的
例：...fertile soil. …肥沃的土壤。
PS：原文中与ground连用，表示比喻意义。
justify
释：To justify a decision, action, or idea means to show or prove that it is reasonable or necessary. 证明…有理
例：Her success had justified the faith her teacher had put in her.
The Prime Minister has been asked to justify the decision to Parliament.
How can they justify paying such huge salaries?
In an era when executives routinely whinge about pressure to produce short-term results, Amazon is resolutely focused on the distant horizon.
在这个时代，高管们一贯都会抱怨要创造短期业绩的压力太大，而亚马逊却毅然着眼于长远的未来。
routinely
释：If something happens routinely, it happens repeatedly and is not surprising, unnatural, or new. 照例地
例：Any outside criticism is routinely dismissed as interference. 任何外来批评照例都被当作干涉而不予理睬。
Mr Bezos emphasises continual investment to propel its two principal businesses, e-commerce and Amazon Web Services (AWS), its cloud-computing arm.
贝索斯重视持续投资以推动其两大主要业务--电子商务和它的云计算部门Amazon Web Services (AWS)。
A third virtuous circle is starting to whirl around Alexa, the firm’s voice-activated assistant: as developers build services for Alexa, it becomes more useful to consumers, giving developers reason to create yet more services.
第三个良性循环则是围绕该公司的语音助手Alexa展开：有了开发者为Alexa设计服务，它对消费者来说就越来越有用，开发者继而就有理由去创造更多的服务。
developer
释： A developer is someone who develops something such as an idea, a design, or a product. 开发者
例：John Bardeen was also co-developer of the theory of superconductivity. 约翰·巴丁也是超导理论的共同发展人。
So long as shareholders retain their faith in this model, Amazon’s heady valuation resembles a self-fulfilling prophecy.
只要股东们对这一模式保持信心，亚马逊令人兴奋的估值就会像一个自我应验的预言。
Their faith is sustained by Amazon’s record.
支持股东信心的是亚马逊的业绩。
Last year cashflow (before investment) was $16bn, more than quadruple the level five years ago.
去年的现金流（投资前）为160亿美元，比五年前的四倍还多。
If Amazon’s approach to time-frames is unusual, so too is the sheer breadth of its activities.
如果说亚马逊对投资时间期限的态度非同寻常，那么它对公司经营的广度也是如此。
The company’s list of current and possible competitors, as described in its annual filings, includes logistics firms, search engines, social networks, food manufacturers and producers of “physical, digital and interactive media of all types”.
如其年报所述，公司目前以及未来可能的竞争对手包括物流公司、搜索引擎、社交网络、食品制造商和“各种各样的实体、数字和交互式媒体”的制造商。
A wingspan this large is more reminiscent of a conglomerate than a retailer, which makes Amazon’s share price seem even more bloated: stockmarkets typically apply a “conglomerate discount” to reflect their inefficiencies.
如此广的跨度更像是一个企业集团而不是一个零售商，这愈加让亚马逊的股价看起来虚高：股市通常会对股价打一个“企业集团折扣”来反映他们的低效。
conglomerate
释： A conglomerate is a large business firm consisting of several different companies. 企业集团 [商业]
例： ...the world's second-largest media conglomerate. …世界第二大传媒集团。
It is building a $1.5bn air-freight hub in Kentucky.
它正在肯塔基州建造一个价值15亿美元的空运中心。
It is testing technology in stores to let consumers skip the cash register altogether, and experimenting with drone deliveries to the home.
它正在门店测试新技术，让消费者完全跳过收银台结账的环节，它还在尝试用无人机送货到家。
Some think that Amazon could become a new kind of utility: one that provides the infrastructure of commerce, from computing power to payments to logistics.
有些人认为亚马逊也许会成为一种新型的公用事业，提供从云计算能力、支付到物流的商务基础设施。
utility
释： A utility is an important service such as water, electricity, or gas that is provided for everyone, and that everyone pays for. 公用事业
例： ...public utilities such as gas, electricity and phones. …煤气、电和电话等公用事业。
For now, Amazon is unlikely to trigger antitrust action.
目前看来他还不大可能会触发反垄断行动。
antitrust
释： In the United States, antitrust laws are intended to stop big companies taking over their competitors, fixing prices with their competitors, or interfering with free competition in any way. 反垄断的
例： The jury found that the NFL had violated antitrust laws. 该陪审团判定全美橄榄球联盟违反了反垄断法规。
Seen through this lens, Amazon appears pristine.
从这一角度来看，亚马逊还很质朴。
AWS is a boon to startups, too.
AWS对于创业公司来说也是一大福音。
boon
释： You can describe something as a boon when it makes life better or easier for someone. 福音
例： It is for this reason that television proves such a boon to so many people. 正是这个原因电视机成为这么多人的一大福音。
Even on standard antitrust grounds, that may pose a problem: if it makes as much money as investors hope, a rough calculation suggests its earnings could be worth the equivalent of 25% of the combined profits of listed Western retail and media firms.
即便是从通常的反垄断角度来看，这也会是一个问题：如果它像投资人所希望的那样赚得盆满钵满，粗略算下来，它的盈利将相当于西方所有上市零售公司和媒体公司总盈利的25%。
In Europe, Google stands accused of using its clout as a search engine to extend its power to adjacent businesses.
在欧洲，谷歌遭到指控，有人认为它利用自己作为搜索引擎的影响力来扩展其他业务。
The comparative immunity from legal liability of digital platforms—for the posting of inflammatory content on Facebook, say, or the vetting of drivers on Uber—is being chipped away.
数字平台原本相对而言享有更多的法律责任豁免--比如在Facebook上发布煽动性内容或是审核优步司机这类事件上，但这种特权如今也在逐渐削弱。
Investors value Amazon’s growth over profits; that makes predatory pricing more tempting.
投资者看重亚马逊的增长更甚于盈利，这让掠夺性定价愈发具有诱惑力。
predatory pricing
释： If a company practises predatory pricing, it charges a much lower price for its products or services than its competitors in order to force them out of the market. (为击垮竞争对手的)掠夺性定价 [商业]
例： Predatory pricing by large supermarkets was threatening the livelihood of smaller businesses. 大型超市的掠夺性定价正威胁着小商店的生计。
But success will bring it into conflict with an even stronger beast: government.
但成功会把它推向与另一头更强大的猛兽对抗：政府。
二、相关背景词汇
1. HBO:
Home Box Office 美国纽约的有线电视网络媒体公司
2. shareholder:
释：A shareholder is a person who owns shares in a company. 股东 [商业]
例：...a shareholders' meeting. …一次股东会议。
3. S&P index:
Standard and Poor’s Composite Index 标准·普尔股票价格指数
4. Jeff Bezos
杰夫·贝索斯（亚马逊网络购物中心缔造者）
5. two-hour shipping
两小时送达
streaming video and music
流媒体视频和音乐
6. debacle
释： A debacle is an event or attempt that is a complete failure. 彻底失败
7. crank out cash
大量产生现金
crank out
释：If you say that a company or person cranks out a quantity of similar things, you mean they produce them quickly, in the same way, and are usually implying that the things are not original or are of poor quality. 迅速地大量滥制
例： In 1933 the studio cranked out fifty-five feature films. 1933年，这家电影公司粗制滥造了55部故事片。
8. regulator
释： A regulator is a person or organization appointed by a government to regulate an area of activity such as banking or industry. 监管人; 监管机构
9. business model
商业模式
三、词汇小拓展
1. 近义词
吸引： entice; attract; lure
2. 同类词
上升：rise; arise; increase (in);raise; lift; ascend; climb; soar;mount; go up
下降：descend; go down; come down; drop; fall; decrease (in); decline; fall off; downgrade; descend; fall; sink
Day 2：
【逻辑导图+神句翻译】
1. The former bookseller accounts for more than half of every new dollar spent on line in U.S.
书商起家的亚马逊占美国线上消费一半以上份额。
2. Since the beginning of 2015, its share price has jumped by 173%, seven times quicker than in the two previous years.(and 12 times faster than the S&P 500 Index)
自2015年年初起，亚马逊公司股价飙升173%，增速比前两年快七倍。（为标准普尔500指数的13倍）
3. With a market capitalization of some 400bn, it is the fifth most valuable firm in the world.
亚马逊市值约达4000亿美元，全球排名第五。
4. Never before has a company been worth so much for so long while making so little money: 92% of its value is due to profits expected after 2020.
亚马逊开创了先例---能在盈利如此有限的情况下，长久维持如此之高的估值：其中92%来自人们对于2020年以后的盈利预期。
5. Walmart already has revenues nudging 500bn and is beefing up online.
沃尔玛的营收已接近5000亿，并且进军线上业务。
6. Last year cash-flow (before investment) was $16bn, more than quadruple the level five years ago.
去年投资前的现金流为160亿美元，是五年前的四倍。
7. If it makes as much money as investors hope, a rough calculation suggests its earnings could be worth the equivalent of 25% of the combined profits of listed Western retail and media firms.
如果它像投资人所希望的那样赚得盆满钵满，粗略算下来，它的盈利将相当于西方所有上市零售公司和媒体公司总盈利的25%。
8. Ground for skepticism does not come much more fertile than this: Amazon will have to grow faster than almost any big company in modern history to justify its valuation.
最强有力的质疑莫过于：为了证明它的市值合理，亚马逊的发展速度必须超过现代历史上几乎所有大公司。
9. In an era when executives routinely whinge about pressure to produce short-term results, Amazon is resolutely focused on the distant horizon.
当今时代，高管们常常抱怨创造短期业绩的压力太大，而亚马逊却坚定不移地着眼于长远未来。
10. Mr. Bezos emphasizes continual investment to propel its two principal businesses.
贝索斯先生重视持续投资以推动其两大主要业务。
11. A third virtuous circle is starting to whirl around Alexa, the firm’s voice-activated assistant:
第三个良性循环则是围绕该公司的语音助手Alexa展开的。
12. So long as shareholders retain their faith in this model, Amazon’s heady valuation resembles a self-fulfilling prophecy.
只要股东们对这一模式保持信心，那么亚马逊的超高估值就会像一个自我应验的预言。
13. Their faith is sustained by Amazon’s record.
支持股东信心的是亚马逊的业绩。
14. It has had its failures—its attempt to make a smart-phone was a debacle. But the business is starting to crank out cash.
它曾经失败过，制造智能手机的尝试便是个灾难。但是公司正开始大量产生现金。
15. If Amazon’s approach to time-frames is unusual, so too is the sheer breadth of its activities.
如果说亚马逊对投资时间期限的态度非同寻常，那么它对公司经营的广度也是如此。
16. A wingspan this large is more reminiscent of a conglomerate than a retailer, which makes Amazon’s share price seem even more bloated: stock markets typically apply a “conglomerate discount” to reflect their in- efficiencies.
如此之广的跨度更像是一个企业集团而不是一个零售商，这越加让亚马逊的股价看起来虚高：股市通常会对股价打一个“企业集团折扣”来体现他们的低效。
17. Seen through this lens, Amazon appears pristine.
从这一角度来看，亚马逊似乎还很质朴。
18. Consumers applaud it; it is the most well-regarded company in America, according to a Harris poll.
消费者为它拍手叫好；Harris的一项调查显示，它是美国声誉最好的公司。
19. If it gets anywhere close to fulfilling them, it will attract the attention of regulators.
一旦真的接近这些目标，它就会招来监管部门的注意。
20. But as it grows, so will concerns about its power.
但随着亚马逊的发展，对它影响力的担忧也在增长。
21. Investors value Amazon’s growth over profits; that makes predatory pricing more tempting.
投资者更看重亚马逊的增长而非其盈利，这让掠夺性定价越发具有吸引力。
Day 3：
【总结反思】
【收获】
这三天下来，觉得学到了很多啊！
首先是笃师给的分析和群里同学们的讨论能够让我对这篇文章有更透彻的理解，不再像是之前自己看的时候那样草草地一遍扫过。更加精读啦~
其次就是觉得June让我们自己翻译神句，之后又给了参考以及解析，这样子非常好！一方面对比我自己的译文和June的翻译版本能够让我的翻译更加准确，另一方面，又让我get了好多相关知识。不但是背景知识，还有笃师给的温馨小贴士，比如说“提醒大家注意常见搭配，propel搭配business”或者是“justify希望大家好好吃透它的用法，变为active vocabulary”，特别有针对性，特别高效！
然后就是思维导图啦，虽然自己第一次动手做，觉得还不怎么熟练，但是确实感觉到了思维导图对于精读的重要性，能够让我们更加清晰地去理解原文啊！
【反思】
反思主要是两个方面。
第一是各种工具的应用，包括简书、Xmind等，觉得自己还是不够熟练，需要多加揣摩，才能更加得心应手地加以应用。
第二就是自己的整个状态，感觉还是没有找到那个平衡点，看文章、做作业什么的还是匆匆忙忙，甚至带点手忙脚乱，也没有在群里和大家进行什么讨论。希望能够调整地更好来适应吧~
BTW，对于笃师关于第二句句子翻译中的两个倍数的翻译，我觉得有点不能理解，所以还是按自己的方式来翻译的，之后会再去查证一下~
Michelle
2017.4.12
