Jeff (Jeffrey Preston Bezos) is an American technology and retail entrepreneur, investor, electrical engineer, computer scientist, and philanthropist, best known as the founder, chairman, and chief executive officer of Amazon.com, the world’s largest online shopping retailer.
On July 27, 2017, he became the world’s wealthiest person with an estimated net worth of just over $90 billion according to Forbes Magazine. As of January 2, 2018, he is worth $108.1 billion and is contended to be on track to become the wealthiest person in history. During the year 2017, Bezos became richer by about 100 million each day. Since January 1, 2018, Bezos’ wealth has increased by nearly 1 billion every two days.
“If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solve.”
“In the old world, you devoted 30 percent of your time to building a great service and 70 percent of your time to shouting about it. In the new world, that inverts.”
“The framework I found, which made the decision (to start Amazon in 1994) incredibly easy, was what I called a regret minimization framework. I wanted to project myself forward to age 80 and say, ‘OK, I’m looking back on my life. I want to minimize the number of regrets I have.’ And I knew that when I was 80, 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. But I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day.”
“If you double the number of experiments you do per year, you’re going to double your inventiveness.”
“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.”
“A company shouldn’t get addicted to being shiny, because shiny doesn’t last.”
“Invention requires a long-term willingness to be misunderstood. You do something that you genuinely believe in, that you have conviction about, but for a long period of time, well-meaning people may criticize that effort. When you receive criticism from well-meaning people, it pays to ask, ‘Are they right?’ And if they are, you need to adapt what they’re doing. If they’re not right, if you really have conviction that they’re not right, you need to have that long-term willingness to be misunderstood. It’s a key part of invention.”