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The people who are right a lot often change their minds.
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
Minds
Often
Change
Right
Mind
People
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The death knell for any enterprise is to glorify the past -- no matter how good it was.
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You don't choose your passions your passions choose you.
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We watch our competitors, learn from them, see the things that they were doing for customers and copy those things as much as we can.
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Our biggest cost is not power, or servers, or people. It's lack of utilization. It dominates all other costs.
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If you decide that you're going to do only the things you know are going to work, you're going to leave a lot of opportunity on the table.
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People loved their horses, too. But you don't keep riding your horse to work just because you love it.
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People who are right most of the time are people who change their minds often
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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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Percentage margins don't matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.
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Not the outcome any of us wanted.
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You can work long, hard, or smart, but at Amazon.com you can’t choose two out of three.
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Cultures, for better or worse, are very stable.
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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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I think technology advanced faster than anticipated. In that whirlwind, a lot of companies didn't survive. The reason we have done well is because, even in that whirlwind, we kept heads-down focused on the customers. All the metrics that we can track about customers have improved every year.
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People don't want gadgets, they want services.
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