We also have no incentive compensation of any kind. And the reason we donโt is because it is detrimental to teamwork.
Jeff BezosWe've done price elasticity studies, and the answer is always that we should raise prices. We don't do that, because we believe -- and we have to take this as an article of faith -- that by keeping our prices very, very low, we earn trust with customers over time, and that that actually does maximize free cash flow over the long term.
Jeff BezosIf you invent frequently and are willing to fail, then you never get to that point where you really need to bet the whole company.
Jeff BezosMediocre theoretical physicists make no progress. They spend all their time understanding other people's progress.
Jeff BezosIf you do build a great experience, customers tell each other about that. Word of mouth is very powerful.
Jeff BezosI knew that if I failed I wouldn't regret that, but I knew the one thing I might regret is not trying.
Jeff BezosIf you think about the long term then you can really make good life decisions that you wonโt regret later.
Jeff BezosI think technology advanced faster than anticipated. In that whirlwind, a lot of companies didn't survive. The reason we have done well is because, even in that whirlwind, we kept heads-down focused on the customers. All the metrics that we can track about customers have improved every year.
Jeff Bezos