Bezos understood the importance of moving quickly.
Especially as Amazon grew.
To survive as a large company, you have to move at the pace of a startup.
If not, you'll die.
I read every annual letter Jeff Bezos published at Amazon.
It's a masterclass on strategy & leadership.
11 critical insights from a legendary leader:
Bezos understood the importance of moving quickly.
Especially as Amazon grew.
To survive as a large company, you have to move at the pace of a startup.
If not, you'll die.
Some problems require long thought and deliberation.
But many don't.
If a decision is easily reversible, Bezos thought they should be made quickly by "high judgement individuals or small groups."
In the 1998 letter, Bezos remarked that it was Amazon's customers and not competition that should be feared.
He understood that Amazon was providing a service.
Amazon to this day has unmatched service to their customers.
Amazon constantly focused on things that they had input on.
-# of products available
-# of items available for Prime shipping
The focus on the inputs (what Amazon could control) led to the outputs Wall Street looked for.
In the 1st letter on the 1st page, long term mindset is mentioned.
It would remain a theme throughout and something the company stuck to.
Even forgoing profitability to invest back into the company for long term results.
Many companies have shiny new object syndrome.
Amazon isn't different.
But they knew for seeds to grow, it took patience.
Amazon fulfillment center and AWS were both started as seed projects at Amazon.
The 3 questions before making a hiring decision for an employee at Amazon:
-Will you admire this person?
-Will this person raise the average level of effectiveness of the group they’re entering?
-Along what dimension might this person be a superstar?
In the early days, many vendors wondered why Amazon would allow customers to publish negative reviews.
Simply, Amazon knew it would improve the customer experience.
Better products would ultimately end up in the customers hands.
Bezos knew that if he wanted the company to focus on long-term results, ownership mentality was key.
Autonomy is given at Amazon to ensure that employees feel some sense of ownership.
It is the only way to remove the bias of short term results.
May be relevant very soon as fears raise around the risk of recession.
Amazon was able to weather the dot com bubble by building cash reserves.
A tight cash conversion cycle was critical in 2000 & 2001.
Many businesses are great at executing set plans.
But that is not where innovation is sparked.
Ideas are sparked by wanderers.
Amazon aimed to be a see-saw with wandering on one end and efficiency on the other.
You can find them on Google and total there are only about 80 pages.
I'm currently reading Berkshire and that's around 900 pages.
1/ Move Fast
2/ Don't Sweat Reversible Decisions
3/ Stay Terrified of Customers
4/ Focus On Inputs
5/ Long-Term Mindset
6/ Plant Seeds & Wait
7/ Talent Is King
8/ Be Customer Centric
9/ Owner's Mentality
10/ Build A Cash Moat
11/ Wander but Be Efficient
And give me a follow @chrisxmunn if you deem me worthy of blabbering my insights onto your timeline! https://t.co/fVfhozHnBC
I read every annual letter Jeff Bezos published at Amazon.
— Chris Munn (@chrisxmunn) April 19, 2022
It's a masterclass on strategy & leadership.
11 critical insights from a legendary leader: pic.twitter.com/d5Tj1lEuuA
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@franciscodeasis https://t.co/OuQaBRFPu7
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the
chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project
starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".
P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!
https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the
chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project
starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".
P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!
https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?
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BREAKING: @CommonsCMS @DamianCollins just released previously sealed #Six4Three @Facebook documents:
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition
2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.
3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
https://t.co/PwiRIL3v9x
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition
2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.
3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
https://t.co/PwiRIL3v9x
This is NONSENSE. The people who take photos with their books on instagram are known to be voracious readers who graciously take time to review books and recommend them to their followers. Part of their medium is to take elaborate, beautiful photos of books. Die mad, Guardian.
THEY DO READ THEM, YOU JUDGY, RACOON-PICKED TRASH BIN
If you come for Bookstagram, i will fight you.
In appreciation, here are some of my favourite bookstagrams of my books: (photos by lit_nerd37, mybookacademy, bookswrotemystory, and scorpio_books)
Beautifully read: why bookselfies are all over Instagram https://t.co/pBQA3JY0xm
— Guardian Books (@GuardianBooks) October 30, 2018
THEY DO READ THEM, YOU JUDGY, RACOON-PICKED TRASH BIN
If you come for Bookstagram, i will fight you.
In appreciation, here are some of my favourite bookstagrams of my books: (photos by lit_nerd37, mybookacademy, bookswrotemystory, and scorpio_books)
