Amazon Jeff Bezos

https://www.youtube.com/watch?v=EXcEQM8QhrE

Bezos: At Amazon, there is one main obsession.

1). Customer obsession.
It is not product or competitor or technology obsession. Other ones can be successful too but at Amazon, it is customer obsession. A leader should focus on the big picture. Big picture is usually very simple.

2). Also, willing and eager to invent and pioneer. Customer obsession is not just listening to customers but inventing on their behalf because it is not their job to invent for themselves.

3). Long-term driven.

At Amazon, it is three things are long-term goals. 1). Deliver as cheaply as possible 2). Deliver as quickly as possible 3). Deliver with greatest variety.

“I very frequently get the question: ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two — because you can build a business strategy around the things that are stable in time. … [I]n our retail business, we know that customers want low prices, and I know that’s going to be true 10 years from now. They want fast delivery; they want vast selection. It’s impossible to imagine a future 10 years from now where a customer comes up and says, ‘Jeff I love Amazon; I just wish the prices were a little higher,’ [or] ‘I love Amazon; I just wish you’d deliver a little more slowly.’ Impossible. And so the effort we put into those things, spinning those things up, we know the energy we put into it today will still be paying off dividends for our customers 10 years from now. When you have something that you know is true, even over the long term, you can afford to put a lot of energy into it.”

Overnight success usually takes ten years.

May 5, 2017
10:15 ~
"You cannot invent and pioneer if you cannot accept failure. To invent, you need to experiment. If you know in advance that it is going work, it is not an experiment. They are inseparable twins: failure and invention."

"If I said to you, you had a ten percent change of 100x return, you should take that bet every time. But you are still going to be wrong 9/10 times. It is going to feel bad. With technology, outcomes results are going to be long-tailed. payoffs can be very asymmetric which is why you need to do so much experimentation... It is the right decision to experiment more."

Invention is not disruptive. Only customer adoption is disruptive.