Well, I read they bought high yield bonds (known as junk bonds in the 80s), to get them through a nasty period where the IPO markets had dried up, and VC obviou

Well, I read they bought high yield bonds (known as junk bonds in the 80s), to get them through a nasty period where the IPO markets had dried up, and VC obviously couldn't fund a late-stage company. So maybe it's both bonds and improvements? As for evidence of the bonds: Book The Warren Buffett way: "In July 2002, only one week after Buffett wrote CEO Jeff Bezos a letter praising him for his decision to account for stock options as an expense, Buffett bought $98.3 million of Amazon's high yield bonds."