Work
Amazon 1997 Letter to Shareholders
Jeff Bezos · Passages from the same work, in order.
It's All About the Long Term
We believe that a fundamental measure of our success will be the shareholder value we create over the long term.
Bezos defines success by long-term shareholder value, not short-term earnings.
Investing · Decision · Leadership · Growth · Modern investor letters
Bold Rather Than Timid
We will make bold rather than timid investment decisions where we see a sufficient probability of gaining market leadership advantages. Some of these…
Make bold bets when the odds of market leadership justify them; learn from both wins and losses.
Investing · Decision · Action · Growth · Learning · Modern investor letters