Jeff Bezos, fully Jeffrey Preston "Jeff" Bezos

Jeff
Bezos, fully Jeffrey Preston "Jeff" Bezos
1964

American Internet Entrepreneur, Founder and CEO of Amazon.com

Author Quotes

If you?re not stubborn, you?ll give up on experiments too soon. And if you?re not flexible, you?ll pound your head against the wall and you won?t see a different solution to a problem you?re trying to solve.

Life's too short to hang out with people who aren't resourceful.

People forget already how much utility they get out of the Internet - how much utility they get out of e-mail, how much utility they get out of even simple things like brochureware online.

The one thing that offends me the most is when I walk by a bank and see ads trying to convince people to take out second mortgages on their home so they can go on vacation. That's approaching evil.

We see our customers as invited guests to a party, and we are the hosts. It's our job every day to make every important aspect of the customer experience a little bit better.

You can do the math 15 different ways, and every time the math tells you that you shouldn't lower prices because you're going to make less money. That's undoubtedly true in the current quarter, in the current year. But it's probably not true over a 10-year period, when the benefit is going to increase the frequency with which your customers shop with you, the fraction of their purchases they do with you as opposed to other places. Their overall satisfaction is going to go up.

If you're competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.

Maintain a firm grasp of the obvious at all times.

People who are right most of the time are people who change their minds often.

The physical book really has had a 500-year run. It's probably the most successful technology ever. It's hard to come up with things that have had a longer run. If Gutenberg were alive today, he would recognize the physical book and know how to operate it immediately. Given how much change there has been everywhere else, what's remarkable is how stable the book has been for so long. But no technology, not even one as elegant as the book, lasts forever.

We start with the customer and we work backward. We learn whatever skills we need to service the customer. We build whatever technology we need to service the customer.

You don't want to negotiate the price of simple things you buy every day.

If you're long-term oriented, customer interests and shareholder interests are aligned.

Market leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital.

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.

The thing that motivates me is a very common form of motivation. And that is, with other folks counting on me, it's so easy to be motivated.

We try to be a pure investment and a long-term decision making company. No company cares more about profitability than Amazon.com.

You have to use your judgment. In cases like that, we say, ?Let?s be simpleminded. We know this is a feature that?s good for customers. Let?s do it.?

If you're not stubborn, you'll give up on experiments too soon. And if you're not flexible, you'll pound your head against the wall and you won't see a different solution to a problem you're trying to solve.

Mediocre theoretical physicists make no progress. They spend all their time understanding other people's progress.

Real estate is the key cost of physical retailers. That's why there's the old saw: location, location, location.

The wake-up call was finding this startling statistic that web usage in the spring of 1994 was growing at 2,300 percent a year. You know, things just don't grow that fast. It's highly unusual, and that started me about thinking , "What kind of business plan might make sense in the context of that growth?"

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.

You know, if you make a customer unhappy they won't tell five friends, they'll tell 5,000 friends. So we are at a point now where we have all of the things we need to build an important and lasting company, and if we don't, it will be shame on us.

I went to Princeton specifically to study physics.

Author Picture
First Name
Jeff
Last Name
Bezos, fully Jeffrey Preston "Jeff" Bezos
Birth Date
1964
Bio

American Internet Entrepreneur, Founder and CEO of Amazon.com