Why Overstock decided to start a price war with Amazon

A Q&A with Overstock CEO Patrick M. Byrne.

Founded in 1999, Overstock.com has always been dwarfed by Amazon, which had $61 billion in revenues last year. But Overstock says it’s now ready to take on the goliath. Its first strike? Overstock’s decision this week to undercut Amazon’s prices on some books by 10 percent, which forced the mega-etailer to quietly bring down its prices as well. GigaOm asked Byrne why he thinks he can go toe-to-toe with Amazon.