Quote

I don't think that you can invent on behalf of customers unless you're willing to think long-term, because a lot of invention doesn't work. If you're going to invent, it means you're going to experiment, and if you're going to experiment, you're going to fail, and if you're going to fail, you have to think long term.

Jeff Bezos

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Jeff Bezos
Age: 60
Born: 1964
Born: January 12
Astronaut
Computer Scientist
Entrepreneur
Albuquerque
New Mexico
Jeffrey Preston Bezos
Jeffrey Preston Jorgensen
Jeff Preston Bezos
Jeffrey Preston ''Jeff'' Bezos
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Term
Experiment
Means
Experiments
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Customers
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Unless
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Think
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I'm skeptical of any mission that has advertisers at its centerpiece.
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We innovate by starting with the customer and working backwards. That becomes the touchstone for how we invent.
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I wouldn't be surprised if history records Tim Berners-Lee as the second Gutenberg.
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When you receive criticism from well-meaning people, it pays to ask, ‘Are they right?’ And if they are, you need to adapt what they’re doing. If they’re not right, if you really have conviction that they’re not right, you need to have that long-term willingness to be misunderstood. It’s a key part of invention.
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I try to spend my time on areas that I think are important for the future, and where I think I can add value.
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If you want to be inventive, you have to be willing to fail.
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There's so much stuff that has yet to be invented. There's so much new that's going to happen. People don't have any idea yet how impactful the internet is going to be and that this is still Day 1 in such a big way.
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I've not seen an effective manager or leader who can't spend some fraction of time down in the trenches... If they don't do that they get out of touch with reality, and their whole thought and management process becomes abstract and disconnected.
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I definitely believe people should pay for copyrighted works. And the laws are sufficient: They already require you to pay for copyright work. There's no confusion. The problem is...it's a heck of a lot easier to steal MP3s than to buy them.
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Our premise is there are going to be a lot of winners. It's not winner take all. Other people do not have to lose for us to win.
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Feel free to cover Amazon any way you want. Feel free to cover Jeff Bezos any way you want.
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The framework I found which made the decision incredibly easy was what I called — which only a nerd would call — a “regret minimization framework.” So, I wanted to project myself forward to age 80 and say, “Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.”
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We've done price elasticity studies, and the answer is always that we should raise prices. We don't do that, because we believe -- and we have to take this as an article of faith -- that by keeping our prices very, very low, we earn trust with customers over time, and that that actually does maximize free cash flow over the long term.
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If there’s one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience.
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If we think long term, we can accomplish things that we couldn't otherwise accomplish.
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All businesses need to be young forever. If your customer base ages with you, you're Woolworth's.
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If you look at academic studies, you can see that stock prices are most closely correlated with cash flow. It's such a straightforward number. Cash flow is what will drive shareholder returns.
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Effective process is not bureaucracy. Bureaucracy is senseless process.
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The great thing about fact-based decisions is that they overrule the hierarchy.
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Do something you're very passionate about, and don't try to chase what is kind of the hot passion of the day.
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