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 BezosI think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.
Jeff BezosWe like to pioneer, we like to explore, we like to go down dark alleys and see what's on the other side.
Jeff BezosThe framework I found which made the decision incredibly easy was what I called โ which only a nerd would call โ a โregret minimization framework.โ So, I wanted to project myself forward to age 80 and say, โOkay, now Iโm looking back on my life. I want to have minimized the number of regrets I have.โ
Jeff BezosPercentage margins are not one of the things we are seeking to optimize. Itโs 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, thatโs something that investors can spend. Investors canโt spend percentage margins.
Jeff Bezos