And if you’re wondering… look at Amazon now!
In early 1998, Amazon founder Jeff Bezos and CFO Joy Covey co-authored a letter to shareholders discussing the previous year’s accomplishments. That letter has become holy writ inside the company, and is republished every year in its annual report.
The letter and its contents struck me as incredibly prescient, or perhaps simply potent, as I read through Brad Stone’s excellent The Everything Store: Jeff Bezos and the age of Amazon. It’s no surprise that the letter has continued to be viewed as a touchstone for the company and its employees. The tenets set out in it are clearly represented by the way that the company develops and releases products, and the approach that it takes to everyday business.
One of the most commonly discussed aspects of Amazon’s business is its attitude toward profit margins. The company famously makes a ton of money every year and manages to spend most…
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