forbes.com/sites/randalll…
Lots to unpack here:
Lots to unpack here:
1/ Nevertheless, Bezos talks about Amazon like it's a giddy startup that just closed its Series A. "For all practical purposes, the market size is unconstrained," says Bezos.
Wow.
Wow.
2/ but Bezos' greatest strength, borne out over the past few years, has been his ability to shape-shift Amazon into adjacent businesses—some of which were adjacent only in retrospect—on a massive scale.
Stealth as an asset
3/ While his pioneering peers of the first dot-com era embraced and popularized the "open kimono," Bezos has always viewed stealthiness as an asset, masking new initiatives inside larger expenditures and feigning disinterest in burgeoning favorites.
3/ While his pioneering peers of the first dot-com era embraced and popularized the "open kimono," Bezos has always viewed stealthiness as an asset, masking new initiatives inside larger expenditures and feigning disinterest in burgeoning favorites.
Disagree and commit. Remaining nimble.
4/ Accordingly, Bezos has structured Amazon around what he calls "multiple paths to yes," particularly regarding "two-way doors": decisions that are often based on incremental improvements and can be reversed if they prove unwise.
4/ Accordingly, Bezos has structured Amazon around what he calls "multiple paths to yes," particularly regarding "two-way doors": decisions that are often based on incremental improvements and can be reversed if they prove unwise.
The long game and how Bezos selects ideas
5/ Bezos prides himself on playing "chief slowdown officer." He's looking for three things. First, originality. Second, scale. And, finally, a Silicon Valley-worthy ROI. "Even at substantial scale, it has to have good returns on capital.
5/ Bezos prides himself on playing "chief slowdown officer." He's looking for three things. First, originality. Second, scale. And, finally, a Silicon Valley-worthy ROI. "Even at substantial scale, it has to have good returns on capital.
6/ How do you know what Amazon does next?
"You have to be patient. It's not going to be just time to learn a skill. It might take time for the thing to really flower."i.e If you study the skills Amazon is currently learning, you'll have a fair idea of what it will soon be selling
"You have to be patient. It's not going to be just time to learn a skill. It might take time for the thing to really flower."i.e If you study the skills Amazon is currently learning, you'll have a fair idea of what it will soon be selling
7/ "I very rarely get pulled into the today," Bezos says. "I get to work two or three years into the future, and most of my leadership team has the same setup."
🤷♂️🤐
8/ "Friends congratulate me after a quarterly-earnings announcement and say, 'Good job, great quarter,' and I'll say, 'Thank you, but that quarter was baked three years ago.' I'm working on a quarter that'll happen in 2021 right now."
8/ "Friends congratulate me after a quarterly-earnings announcement and say, 'Good job, great quarter,' and I'll say, 'Thank you, but that quarter was baked three years ago.' I'm working on a quarter that'll happen in 2021 right now."
