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Founders: #282 Jeff Bezos Shareholder Letters

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What I learned from rereading Jeff Bezos' Shareholder Letters (for the 3rd time!) Read Jeff's letters in book form: Invent and Wander: The Collected Writings of Jeff Bezos or for free online: Amazon Investor Relations ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- Follow one of my favorite podcasts Invest Like The Best [2:30] Amazon hopes to create an enduring franchise [3:00] Because of our emphasis on the long term, we may make decisions and weigh trade-offs differently than some companies. [4:00] We will continue to focus relentlessly on our customers. [4:00] We will work hard to spend wisely and maintain our lean culture. We understand the importance of continually reinforcing a cost-conscious culture. [4:00] We set out to offer customers something they simply could not get any other way. [5:00] Word of mouth remains the most powerful customer acquisition tool that we have. [5:00] We are working to build something important, something that matters to our customers, something that we can all tell our grandchildren about. Such things aren't meant to be easy. [6:00] "To read Bezos’ shareholder letters is to

[00:00:00] It's all about the long term. Jeff Bezos' first shareholder letter in 1997. This is day one for the internet, and if we execute well, for Amazon. Today, online commerce saves customers money and precious time. Tomorrow, through personalization, online commerce will accelerate the very process of discovery. Amazon uses the internet to create real value for its customers, and by doing so, hopes to create an enduring franchise, even in established and large markets. We have a window of opportunity as larger players marshal [00:00:32] the resources to pursue the online opportunity,…

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