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.
Jeff BezosI think one of the things people don't understand is we can build more shareholder value by lowering product prices than we can by trying to raise margins. It's a more patient approach, but we think it leads to a stronger, healthier company. It also serves customers much, much better.
Jeff BezosWe expect all our businesses to have a positive impact on our top and bottom lines ... Profitability is very important to us or we wouldn't be in this business.
Jeff BezosIn the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts
Jeff BezosI'm skeptical that the novel will be "reยญinvented." If you start thinking about a medical textbook or something, then, yes, I think that's ripe for reinvention. You can imagine animations of a beating heart. But I think the novel will thrive in its current form. That doesn't mean that there won't be new narrative inventions as well. But I don't think they'll displace the novel.
Jeff BezosOn the Internet, companies are scale businesses, characterized by high fixed costs and relatively low variable costs. You can be two sizes: You can be big, or you can be small. It's very hard to be medium. A lot of medium-sized companies had the financing rug pulled out from under them before they could get big.
Jeff BezosIf you're not doing something that people will remark on, then it's going to be hard to generate word of mouth.
Jeff BezosBut 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.
Jeff BezosAnd I still buy books at B&N, Borders and Elliot Bay ... I probably shouldn't admit this. But I don't care. I love great bookstores.
Jeff BezosThe common question that gets asked in business is, why? Thatโs a good question, but an equally valid question is, why not?
Jeff BezosDo something you're very passionate about, and don't try to chase what is kind of the "hot passion" of the day.
Jeff BezosIf your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.
Jeff BezosMillions of people were inspired by the Apollo Program. I was five years old when I watched Apollo 11 unfold on television, and without any doubt it was a big contributor to my passions for science, engineering, and exploration.
Jeff BezosYou can work long, hard, or smart, but at Amazon.com you canโt choose two out of three.
Jeff BezosThe book is not really the container for the book. The book itself is the narrative. It's the thing that people create.
Jeff BezosCleverness is a gift, kindness is a choice. Gifts are easy-they're given after all. Choices can be hard.
Jeff BezosTo get something new done you have to be stubborn and focused, to the point that others might find unreasonable.
Jeff BezosPeople 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.
Jeff BezosBecause, 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.
Jeff BezosWe innovate by starting with the customer and working backwards. That becomes the touchstone for how we invent.
Jeff BezosIf 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.
Jeff BezosWhat we need to do is always lean into the future; when the world changes around you and when it changes against you - what used to be a tail wind is now a head wind - you have to lean into that and figure out what to do because complaining isn't a strategy.
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 BezosThe 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.
Jeff BezosThe most important single thing is to focus obsessively on the customer. Our goal is to be earth's most customer-centric company.
Jeff BezosWhere you are going to spend your time and your energy is one of the most important decisions you get to make in life.
Jeff BezosThe best customer service is if the customer doesn't need to call you, doesn't need to talk to you. It just works.
Jeff BezosWhat consumerism really is, at its worst is getting people to buy things that don't actually improve their lives.
Jeff BezosIf thereโs one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience.
Jeff BezosIf everything you do needs to work on a three-year time horizon, then youโre competing against a lot of people, But if youโre willing to invest on a seven-year time horizon, youโre now competing against a fraction of those people, because very few companies are willing to do that. Just by lengthening the time horizon, you can engage in endeavours that you could never otherwise pursue. At Amazon we like things to work in five to seven years. Weโre willing to plant seeds, let them growโand weโre very stubborn. We say weโre stubborn on vision and flexible on details.
Jeff BezosIf 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.
Jeff Bezos