Thread by @librarymindset

10 Lessons from Invent & Wander

(thread)

1)I knew that when I was eighty, I was not going to regret having tried
this. I was not going to regret trying to participate in this thing called
the internet that I thought was going to be a really big deal. I knew
that if I failed, I wouldn't regret that.

2)In the short term, the
stock market is a voting machine; in the long term, it's a weighing
machine.

3)Avoid PowerPoint and slide presentations.

4) "You can work long, hard, or smart, but at Amazon you can't
choose two out of three", but we are working to build something
important, something that matters to our customers, something
that we can all tell our grandchildren about. Such things aren't meant to be easy.

5)A big part of the challenge for us will lie not in finding new
ways to expand our business, but in prioritizing our investments.

6) To invent you have to experiment, and if you know in advance that it's going
to work, it's not an experiment.

7)You have to somehow make high-quality, high-velocity
decisions. Easy for start-ups and very challenging for large orga-
nizations.

8)Most decisions should probably be made with somewhere around 70 percent of the information you wish you had. If
you wait for 90 percent, in most cases, you're probably being slow.

9)Obsess over customers.

10)The advantage of being customer focused is that customers are always dissatisfied. They always want more, and so they pull you along. Whereas if you're competitor obsessed, if you're a leader, you can look around and you see everybody running behind you, maybe you slow down.