????最后，讓我們來看看史泰博的財務情況：史泰博手里握有13億美元的現金，因此給了它比直接競爭對手更大的緩沖空間。但是在未來的幾年里，即便有這樣一筆儲備，也無法抵擋它的業務模式承受的壓力。

????如果史泰博大膽剝離零售業務，轉攻增值服務領域，那么它或許能夠創造一個利潤更高的業務。這樣做雖然在短期很艱難，但卻能避免公司發展陷入停滯。不過，目前史泰博的管理團隊還面臨著不小的季度財務壓力，史泰博能否像亞馬遜的杰夫?索貝斯一樣，勇于頂住短期壓力，推行長期計劃？為了股東的利益，希望如此吧。

????本文作者杰克?希德瑞是一位初創公司投資人，也是Dice.com的共同創始人和前任CEO。

????譯者：樸成奎

????Finally, let's look at the financial picture: Staples has $1.3 billion on hand which gives it a far bigger cushion than its direct competitors. But even this reserve will not be able to withstand the pressure on its business model in the coming years.

????If Staples takes aggressive moves to shed retail outlets and move into value-added services it may be able to create a higher-margin business. This will require a clear conversation with the Street, which, while difficult in the short-term, will save the company from stagnation. Given the quarterly pressure on management teams today, however, will Staples have the stomach Jeff Bezos has for implementing long-range plans in the face of short-term challenges? For shareholders' sake let's hope so.

????Jack Hidary is a startup investor and co-founder and former CEO of Dice.com (DHX). Send Jack comments @jackhidary.