Jeff Bezos：Long-Term Market Leadership
Jeff Bezos《1997 Letter to Shareholders》· “It's All About the Long Term” · Investing · Leadership · Decision
We will continue to make investment decisions in light of long-term market leadership considerations rather than short-term profitability considerations or short-term Wall Street reactions.
Source：
https://www.aboutamazon.com/news/company-news/amazons-original-1997-letter-to-shareholders
Locator：Letter to shareholders, section “It's All About the Long Term,” bullet beginning “We will continue to make investment decisions...” · Verified：2026-10-19 · Verification：Exact match
Reading
Choose long-term market leadership over short-term profit and Wall Street reactions.
Context
Jeff Bezos (1964–) left a Wall Street hedge fund in 1994 and founded Amazon in a Seattle garage. In his first shareholder letter he committed the company to long-term market leadership rather than short-term profit or Wall Street reactions. The letter became a template for founder-led companies that ask investors to accept delayed returns.
Today's question
What was your last decision to sacrifice short-term profit for long-term position—and did you write down why?
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