so perhaps the only person who believes that being a billionaire is actually
thinking too small is Jeff Bezos skew some people predict he's going to be the
world's first trillionaire he is the founder of amazon.com he used to be a
venture capitalist and he's just a massively successful entrepreneur and
the second richest person in the entire world so unbelievable person one of the
most one of the smartest people in in living today so I put together this
compilation of videos to really expose you to the most important knowledge of
Jeff Bezos listen to this as many times as you possibly can and if you're
interested in learning more about how to start your own internet business or
going to amazon.com the links are in the description enjoy had some family role
models and I had some other people you know some sort of historical role models
that I looked at too so certainly my my grandfather was a serious role model for
me I just saw somebody you learn different things from grandparents and
you learn from parents it's a great I would encourage anybody to try to spend
time not only with their parents but with their grandparents and but I and I
also had I to people I always would read about and were Thomas Edison and Walt
Disney those were sort of my - you know biographical here my math teacher in
either fourth or fifth grade I can't remember Miss McInerney
she had a big influence on me my calculus teacher in high school mr.
Moore he had a big influence on me mrs. Dell champs who taught chemistry in
high school mrs. rule who taught physics I really I I have been blessed
with you know conscientious hard-working super-smart teachers and I don't know
because you know I only got to go through school once so I don't know if I
have a feeling I was left I've been hearing an ad campaign about smoking I
can't remember the details but basically the ad said every pop of a cigarette
takes some number of minutes off of your life I think it might have been two
minutes per puff at any rate I decided to do the math for my grandmother I
estimated the number of cigarettes per day estimated the number of puffs per
cigarette and so on when I was satisfied that I had come up with a reasonable
number I poked my head into the front of the car tapped my grandmother on the
shoulder and proudly proclaimed at two minutes per puff you've taken nine years
off of your life I have a very vivid memory of what happened next and it was
not what I had expected I expected to be applauded for my cleverness and my
arithmetic skills instead my grandmother burst into tears i sat in
the backseat didn't know what to do well my grandmother was crying my grandfather
had been driving in silence pulled over under the shoulder of the highway he got
out of the car and came around and opened my door waited for me to follow
was I in trouble my grandfather was a highly intelligent quiet man he had
never said a harsh word to me maybe this was to be the first time or maybe he
would ask that I get back in the car and apologize to my grandmother I had no
experience in this realm with my grandparents and no way engage what the
consequences might be we stopped beside the trailer my
grandfather looked at me and after a bit of silence he gently and calmly said
Jeff one day you'll understand that it's harder to be kind than clever
but I want to talk to you about today is the difference between gifts and choices
cleverness is a gift kindness is a choice gifts are easy they're given
after all choices can be hard you can seduce yourself with your gifts if
you're not careful and if you do it'll probably be to the detriment of your
choices so the most important thing when you're thinking about books the most
important thing is constantly encouraging you know the kind of think
participants in the book industry to think this way the most important thing
to observe is that you have to draw the box big books don't just compete against
books books compete against people reading blogs and news articles and
playing video games watching TV and going to see movies books are the
competitive set for leisure time and you know it takes take so many hours to read
a book it's a lot it's a big commitment and if you narrow your field of view and
only think about books competing against books you make really bad decisions but
we really have to do if we want a healthy culture of long-form reading and
you have to differentiate between short form reading a long-form reading if you
want a healthy culture of reading you know book length things you've got to
make books more accessible and you have to part of that it's making them less
expensive books in my view are too expensive you know $30 for a book is too
expensive and if you just think well that I'm only competing its other $30
books then you don't don't get there but if you realize that you're really
competing against you know candy crush and every you know then you sir just say
well gosh you know maybe we should really work on reducing friction on
long-form reading and that's what the you know that's what Kindle has been
about from the very beginning you know we humans co-evolved with our tools we
change our tools and then our tools change us and in the Internet era and
almost all of the tools for reading have been reducing the friction of short-form
it's the internet is perfect for delivering you know three paragraphs to
your smartphone the Kindle is trying to reduce friction for reading a whole book
and it's working you know that's what we have our vision for Kindle is every book
ever in print in any language all available in 60 seconds surely making
reading more affordable it's not going to make authors less money making
reading more affordable who's going to make authors more money
invention is not disruptive only customer adoption is disrupt at Amazon
we've invented a lot of things the customers did not care about at all and
believe me they were not disruptive to anyone for innovating we need a bunch of
different kinds of people on a team we need lots of operators on our team so
innovation comes in two major flavors everyday incremental innovation and
that's probably 70% of what we do is just getting every little process a
little bit better every day that's so important any company that doesn't do
that well is not going to succeed and then there's this big you know kind of
white sheet innovation you start something new for that kind of
innovation in real invention kind of clean sheet and invention you need
people who and it's very tricky you need people who are experts in a certain
domain area because the world is so complex today it's really hard to invent
something in here if you're not an expert if you don't have the underlying
tools at your disposal and know what's going on you can't you know invent
something in neurosurgery without knowing something about neurosurgery
it's just going to be very difficult because we're very advanced and that's
true in every every field of endeavor but really be an inventor you have to
combine that expertise with the beginner's mind
have to have a certain childlike ability to not be trapped by your expertise and
that fresh look that beginner's mind once you're an expert is unbelievably
hard to maintain but great inventors are always looking to have a certain divine
discontentedly they may have seen something a thousand times and still it
occurs to them that that thing even though they're accustomed to it could be
improved and that's you know you have to look for people like that I also think
cultures support that you know you can't even if you're that kind of person if
you're in a culture that doesn't support failure you know willingness to fail is
critical for invention willingness to be misunderstood for long periods of time
you know most inventions don't really work that well in the beginning they're
clumsy that will toddlers or was falling and tripping and so you have to have
culture in your organization that supports this kind of stumbling and
wandering you know just because you're wandering doesn't mean you're lost and
that's a really important thing to keep in mind when you're trying to invent is
a very rare idea that can be done by a single individual almost everything that
is going to change the world solve a problem improve something
these are usually big efforts and they require you know teams a team working
together to really get something important done and that has been the
story of amazon.com every step along the way we have had a team here that is is
making this work and I don't know even even at the smallest scale you have to
figure out how to get help from your friends from your family members from
people that you can hire in those early days I think without that you would
never work hire smart people and how do you go about if you don't hire because
because you know a single individual cannot keep in touch with the plethora
of new things happening so what you have to do
you have to put in place a recruiting process that attracts and retains smart
talented hard-working people who want to be a part of your mission whatever it is
now all we need is a clear consistent vision and the ability to execute on it
very very well at high speed and that second piece comes from having large
numbers of talented employees with lots of executive bandwidth help guide them
and so you know individuals do not win I work with these people who they're
missionaries for what they do they are you know if you're giving great customer
experience there's the only way to do that is with happy people you can't do
it with a set of miserable people you know watching the clock all day okay I
think this one is a very important question
what does day to look like I know the answer to this
day two is stasis followed by irrelevance followed by excruciatingly
painful decline followed by death and
that is why it is always day one thank you guys we have a very distinctive
approach that we have been honing and refining and thinking about for 22 years
and its really just a few principles that we use as we go about these
activities but at the very top of the list it's one I've already mentioned but
you'll probably hear it 10 times throughout tonight because it's so
central and it is customer obsession its customer obsession instead of for
example competitor obsession you know we did have an all-hands meeting and I
asked all of our 125 people to be terrified and to wake up with their
seats drenched in sweat every morning and I did I carefully specified sweat
and and but that they should be afraid not of our competitors but they should
be afraid of our customers because our customers are the only ones who are
going to ever give us money and so that helps it actually helps have that kind
of customer focus if you're it because it helps you stay heads down you don't
get worried about your search but your competitors are going to do what your
competitors are going to do you can watch them you can learn from them but
you can't let them set your strategy you have to do what you're going to do and
you also can't let the media set your strategy and independent but you do see
that happen you can't let Wall Street set your strategy either
in what you do with those early investment dollars so if you have
$300,000 and you have a million dollars what you do is that early precious
capital resources if you go about systematically trying to eliminate risk
so you pick whatever the you know you think the biggest problems are you try
to eliminate them one at a time and that's that's how small companies get a
little bit bigger and a little bit bigger a little bit bigger until finally
at a certain stage you reach a transition where you have where the
company has more control over its future destiny you know and when a company is
very tiny it needs a tremendous amount of not only
hard work but as we talked about earlier luck as a company gets bigger it starts
to become a little more stable where if the you know at a certain point in time
the company has much bigger influence over its future outcome it needs a lot
less luck and instead it needs the hard work and at that point in a wait at that
point there's a little bit more pressure because then if you fail if nobody to
blame but yourself nimble and robust so you need to be able to take a punch and
you also need to be quick and and and and innovative and and doing new things
at a high speed that's that's the best defense against the future and you have
to always be leaning into the future if you're if you're leaning away from the
future the future is going to win every time never ever ever lean away from
inside our culture we understand that even though we have some big businesses
new businesses start out small and so you know it we it would be very easy for
say the person who runs our us books category to say why are we doing these
experiments with things I mean you know that generated you know a tiny bit of
revenue last year why don't we instead focus those
resources and that you know that all that brainpower on this on the books
category where we which is a big business for us and instead that that
would be a natural thing to have happen but instead inside Amazon
when a new business you know reaches some small milestone of sales and email
messages go around and everybody's you know giving virtual high-fives for
reaching that milestone and I think it's because we know from our past
experiences the big thing starts small you know the biggest hope starts from an
acorn and you've got us reckon if you want to do anything new you've got to be
willing to let that acorn grow into a little sapling that finally into a small
tree it maybe one day it'll be a big business on its own do something you're
very passionate about and don't try to chase what is kind of the hot passion of
the day I was working at a financial firm in New York City with a bunch of
very smart people and I had a brilliant boss I much admired I went to my boss
and told him I was going to start a company selling books on the internet he
took me on a long walk in Central Park listen carefully to me and finally said
that sounds like a really good idea but it would be an even better idea for
someone who didn't already have a good job that logic made some sense to me and
he convinced me to think about it for 48 hours before making a final decision
seen him that light it really was a difficult choice but ultimately I
decided I had to give it a shot I didn't think I'd regret trying and failing
and I suspected I would always be haunted by a decision to not try at all
after much consideration I took the less safe path to follow my passion and I'm
proud of that choice tomorrow in a very real sense your life the life you author
from scratch on your own begins how will you use your gifts what choices
will you make will inertia be your guide or will you follow your passions will
you follow Dogma or will you be original will you choose a life of ease or a life
of service an adventure will you wilt under criticism where will you follow
your convictions will you Bluff it out when you're wrong or we apologize will
you guard your heart against rejection or were you act when you fall in love
will you play it safe or will you be a little bit swashbuckling when it's tough
will you give up or will you be relentless will you be a cynic or will
you be a builder
will you be clever at the expense of others poor will you be kind Amazon's
what I would hope amazon's legacy would be is first most customer centric
company but we have always wanted to do its raise the standard for what it means
to be customer centric to such a degree that other organizations whether they be
other companies or whether they be hospitals or government agencies
whatever organization is they should look at Amazon as role model and say how
can we be as customer centric as Amazon becoming editors I imagine hopefully
competitors as well but if we could make you know if that could be our legacy
that we kind of raise the general idea of what it means to be customer centric
that would be a huge accomplishment it would be accomplishing a mission that's
much bigger than our salt many hundreds of people you know working over a number
of years so some things are still you know require big teams lots of resources
many years to pull together and those are very important innovations to
you
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