Jeff Bezos Quotes
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I like to be counted on.
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We change our tools and then our tools change us.
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If you have a business model that relies on customers being misinformed, you better start working on changing your business model.
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Your margin is my opportunity.
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Because, you know, resilience - if you think of it in terms of the Gold Rush, then you'd be pretty depressed right now because the last nugget of gold would be gone. But the good thing is, with innovation, there isn't a last nugget. Every new thing creates two new questions and two new opportunities.
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Percentage margins are not one of the things we are seeking to optimize. It’s the absolute dollar free cash flow per share that you want to maximize, and if you can do that by lowering margins, we would do that. So if you could take the free cash flow, that’s something that investors can spend. Investors can’t spend percentage margins.
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Things never go smoothly.
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Our vision is every book ever printed in any language [fetched and viewable on our eBook Kindle device] in under 60 seconds.
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But there's so much kludge, so much terrible stuff, we are at the 1908 Hurley washing machine stage with the Internet. That's where we are. We don't get our hair caught in it, but that's the level of primitiveness of where we are. We're in 1908.
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If you are going to do large-scale invention, you have to be willing to do three things: You must be willing to fail; you have to be willing to think long term; and you have to be willing to be misunderstood for long periods of time.
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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.
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I never worked on the school newspaper.
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Though we are optimistic, we must remain vigilant and maintain a sense of urgency.
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What consumerism really is, at its worst is getting people to buy things that don't actually improve their lives.
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You don't want to negotiate the price of simple things you buy every day.
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Cultures, for better or worse, are very stable.
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Focusing on the customer makes a company more resilient.
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The Internet is disrupting every media industry...people can complain about that, but complaining is not a strategy. And Amazon is not happening to book selling, the future is happening to book selling.
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Market leadership can translate directly to higher revenue, higher profitability, greater capital velocity and correspondingly stronger returns on invested capital.
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Word of mouth is very powerful.
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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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Are you lazy or just incompetent?
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If you want to be inventive, you have to be willing to fail.
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If you double the number of experiments you do per year you're going to double your inventiveness.
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But there's still so much you can do with technology to improve the customer experience. And that's the sense in which I believe it's still Day One, and that it's early in the day. If anything, the rate of change is accelerating.
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Lowering prices is easy. Being able to afford to lower prices is hard.
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You don't choose your passions; your passions choose you.
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Good ideas will always get funded, so that's not going to be a problem. But you will see that it will be harder and harder for bad ideas to get funded.
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If you're long-term oriented, customer interests and shareholder interests are aligned.
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My view is there's no bad time to innovate.
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