lessons of the past
TRANSCRIPT
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Lessons of the PastSara Ras
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Meet Jeff.
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Meet Jeff.
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Meet Jeff.
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Jeff’s Epiphany
Web usage increasingannually by
2300%
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Jeff’s Epiphany
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Starting Up - 1994
Shel Kaphan, employee #1
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Starting Up - 1994
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Starting Up - 1994
“What’s the internet???”
“The riskiest moment for Amazon…was at the very beginning. I needed to raise $1 million at a certain point, and I ended up giving away 20% of the company for a million dollars.”
–Jeff Bezos
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Launch - 1995
Within 40 days, orders from 50 states and 45 other countries
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IPO - 1997
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Business Strategy
“Get Big Fast”
Economies of Scale
=
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Business Strategy
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Crisis: Dot-Com Bubble Burst
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Crisis: Dot-Com Bubble Burst
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Failed Products:
● Amazon Webstore: ecommerce platform● Amazon Destinations: hotel booking service● Endless.com: high-end fashion commerce site● Amazon Webpay: peer-to-peer pay● Askville: Q&A site● Amazon Auction● Amazon diaper line● Fire Phone (not discontinued yet)
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Successful Products:
2002
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Successful Products:
2005 2007 (kindle)/ 2011 (fire)
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Today...
● Net worth: $66.3 Billion (Sep 12, 2016)● Forbes #2 richest in tech (#3 in 2015)● #5 Billionaire in the world, #3 in US
● Thinks big: sets long-term goals and perseveres○ 14 Leadership Principles
● Detail oriented: very particular about how things are done
Keys to success?
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14 Leadership Principles
Customer Obsession
Ownership
Learn and Be Curious
Hire and Develop the Best
Think Big
Frugality
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Selective Hiring & Small Teams
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Future?
Picking Challenge
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Sources"Amazon Startup Story - Fundable." Fundable. N.p., 26 Apr. 2016. Web. "Amazon.com, Inc." History of – FundingUniverse. N.p., n.d. Web."Amazon's Global Career Site." Amazon.jobs. N.p., n.d. Web. BBC. "Business Boomers: Amazon's Retail Revolution." YouTube. YouTube, 22 Apr. 2014. Web.Bloomberg. "Jeff Bezos Revealed: Building Amazon One Box at a Time." YouTube. YouTube, 26 Jan. 2015. Web. Cadwalladr, Carole. "My Week as an Amazon Insider." The Guardian. Guardian News and Media, 30 Nov. 2013. Web. Cook, John. "Jeff Bezos Had to Take 60 Meetings to Raise $1 Million for Amazon, Giving up 20% to Early Investors."
GeekWire. N.p., 01 Dec. 2013. Web.Evans, Benedict. "Why Amazon Has No Profits (And Why It Works)." RSS. N.p., 05 Sept. 2014. Web. “Jeff Bezos.” Forbes. Forbes Magazine, n.d. Web. "Jeff Bezos Biography." Bio.com. A&E Networks Television, n.d. Web. 12 Sept. 2016."Jeff Bezos Profile." Academy of Achievement. N.p., 26 Nov. 2013. Web. Kantor, Jodi, and David Streitfeld. "Inside Amazon: Wrestling Big Ideas in a Bruising Workplace." The New York Times.
The New York Times, 15 Aug. 2015. Web. Kim, Eugene. "Jeff Bezos Says Amazon Is Not Afraid to Fail - These 9 Failures Show He's Not Kidding." Business Insider.
Business Insider, Inc, 21 Oct. 2015. Web. Mark, Gina. "20 Things About Jeff Bezos You Probably Didn’t Know." Hongkiatcom. N.p., n.d. Web. Schneider, Laura. "History of and Information on Amazon.com." The Balance. N.p., 5 Mar. 2016. Web. Wauters, Robin. "Coolness: Amazon's Acquisitions and Investments, Visualized." TechCrunch. N.p., 27 July 2009. Web.
+2 interviews with employee Margaret and former employee John