my wife pointed out that one thing she loves but Amazon is you can look back at
loves but Amazon is you can look back at
loves but Amazon is you can look back at your purchases yeah and it’s a really
your purchases yeah and it’s a really
your purchases yeah and it’s a really great reflection of what’s going on in
great reflection of what’s going on in
great reflection of what’s going on in your life at the time based on what
your life at the time based on what
your life at the time based on what you’re buying and it occurred to me that
you’re buying and it occurred to me that
you’re buying and it occurred to me that the reverse is also true that the
the reverse is also true that the
the reverse is also true that the e-commerce journey that everybody
e-commerce journey that everybody
e-commerce journey that everybody probably this room has gone on mirrors
probably this room has gone on mirrors
probably this room has gone on mirrors what you and Amazon have gone through
what you and Amazon have gone through
what you and Amazon have gone through first only selling books and now selling
first only selling books and now selling
first only selling books and now selling everything is we’ve all kind of gone on
everything is we’ve all kind of gone on
everything is we’ve all kind of gone on that journey together and I looked back
that journey together and I looked back
that journey together and I looked back at my purchase history and in 2004 I
at my purchase history and in 2004 I
at my purchase history and in 2004 I bought exactly one thing on Amazon was a
bought exactly one thing on Amazon was a
bought exactly one thing on Amazon was a book by 2006 I had a 500% increase in
book by 2006 I had a 500% increase in
book by 2006 I had a 500% increase in purchases for books and one Gillette
purchases for books and one Gillette
purchases for books and one Gillette razor and which I use tonight and
razor and which I use tonight and
razor and which I use tonight and hopefully a new one you’re the new one
hopefully a new one you’re the new one
hopefully a new one you’re the new one and then by 2015 a year we had just
and then by 2015 a year we had just
and then by 2015 a year we had just gotten married moved into a home got
gotten married moved into a home got
gotten married moved into a home got dogs we bought everything for our dogs
dogs we bought everything for our dogs
dogs we bought everything for our dogs we bought a TV but snow blower bought
we bought a TV but snow blower bought
we bought a TV but snow blower bought allergy medicine and peanut butter I
allergy medicine and peanut butter I
allergy medicine and peanut butter I look these things up literally
look these things up literally
look these things up literally everything four days a week ordering and
everything four days a week ordering and
everything four days a week ordering and so the question is at what point because
so the question is at what point because
so the question is at what point because you realize you’d have the scale of
you realize you’d have the scale of
you realize you’d have the scale of success with Amazon going from books to
success with Amazon going from books to
success with Amazon going from books to where you are now is a company well I
where you are now is a company well I
where you are now is a company well I have a question for you in 2004 what you
have a question for you in 2004 what you
have a question for you in 2004 what you know what book it was you bought I do
know what book it was you bought I do
know what book it was you bought I do remember it was writing screenplays that
remember it was writing screenplays that
remember it was writing screenplays that sell and if it’s not I’m how does that
sell and if it’s not I’m how does that
sell and if it’s not I’m how does that work out that I can watch your money
work out that I can watch your money
work out that I can watch your money back I guess I could even return all
back I guess I could even return all
back I guess I could even return all right I’ll take it back because that did
right I’ll take it back because that did
right I’ll take it back because that did not work out I’m going to keep my day
not work out I’m going to keep my day
not work out I’m going to keep my day job whether your question is you know
job whether your question is you know
job whether your question is you know did I kind of anticipate what would
did I kind of anticipate what would
did I kind of anticipate what would happen over the last 22 years at Amazon
happen over the last 22 years at Amazon
happen over the last 22 years at Amazon and the answer is god no so you know
and the answer is god no so you know
and the answer is god no so you know Amazon started as a very small company
Amazon started as a very small company
Amazon started as a very small company it was me and a few other people I was
it was me and a few other people I was
it was me and a few other people I was driving all the packages to the post
driving all the packages to the post
driving all the packages to the post office myself in my 1987 Chevy Blazer
office myself in my 1987 Chevy Blazer
office myself in my 1987 Chevy Blazer and when I raised money for Amazon I had
and when I raised money for Amazon I had
and when I raised money for Amazon I had to raise a million dollars which I
to raise a million dollars which I
to raise a million dollars which I raised from 22 different investors
raised from 22 different investors
raised from 22 different investors $50,000 each they got 20% of the company
$50,000 each they got 20% of the company
$50,000 each they got 20% of the company for for the million dollars and it was a
for for the million dollars and it was a
for for the million dollars and it was a 40 people told me no so I did take sixty
40 people told me no so I did take sixty
40 people told me no so I did take sixty meetings to get 20 yeses the first
meetings to get 20 yeses the first
meetings to get 20 yeses the first question was always what’s the internet
question was always what’s the internet
question was always what’s the internet and I had to walk through that and this
and I had to walk through that and this
and I had to walk through that and this was 1994 early 95 and so did I
was 1994 early 95 and so did I
was 1994 early 95 and so did I anticipate you know fast forward to
anticipate you know fast forward to
anticipate you know fast forward to today and and the current version of it
today and and the current version of it
today and and the current version of it now it has been one foot in front of the
now it has been one foot in front of the
now it has been one foot in front of the other and I think that that is true for
other and I think that that is true for
other and I think that that is true for most businesses where you kind of
most businesses where you kind of
most businesses where you kind of proceed adaptively step by step you
proceed adaptively step by step you
proceed adaptively step by step you figure it out you have a success and
figure it out you have a success and
figure it out you have a success and then you kind of double down on that
then you kind of double down on that
then you kind of double down on that success and you figure out what what
success and you figure out what what
success and you figure out what what else you can do what customers want
else you can do what customers want
else you can do what customers want everything we’ve done and all the
everything we’ve done and all the
everything we’ve done and all the success we have is at its root primarily
success we have is at its root primarily
success we have is at its root primarily due to the fact that we have put
due to the fact that we have put
due to the fact that we have put customers first
customers first
customers first so those few people are probably kicking
so those few people are probably kicking
so those few people are probably kicking themselves now that well it’s very
themselves now that well it’s very
themselves now that well it’s very interesting the 40 people who did not
interesting the 40 people who did not
interesting the 40 people who did not invest its kind of a study in human
invest its kind of a study in human
invest its kind of a study in human nature I’m in touch with a few of them
nature I’m in touch with a few of them
nature I’m in touch with a few of them still and some of them take it in great
still and some of them take it in great
still and some of them take it in great stride and have they recognized that
stride and have they recognized that
stride and have they recognized that they actually have ridiculously happy
they actually have ridiculously happy
they actually have ridiculously happy lives others of them actually cannot
lives others of them actually cannot
lives others of them actually cannot talk about it it’s just – it is actually
talk about it it’s just – it is actually
talk about it it’s just – it is actually just too painful that’s human nature and
just too painful that’s human nature and
just too painful that’s human nature and some people are better at rolling with
some people are better at rolling with
some people are better at rolling with the punches I would be they do not talk
the punches I would be they do not talk
the punches I would be they do not talk about it can’t probably good speaking of
about it can’t probably good speaking of
about it can’t probably good speaking of talk I have the privilege of being able
talk I have the privilege of being able
talk I have the privilege of being able to talk to a lot of people in Washington
to talk to a lot of people in Washington
to talk to a lot of people in Washington but all of our member companies and
but all of our member companies and
but all of our member companies and Amazon is one where I think people have
Amazon is one where I think people have
Amazon is one where I think people have a very different idea of what Amazon is
a very different idea of what Amazon is
a very different idea of what Amazon is some people see you as an e-commerce
some people see you as an e-commerce
some people see you as an e-commerce company or retail or others see you as
company or retail or others see you as
company or retail or others see you as an innovative tech company you have
an innovative tech company you have
an innovative tech company you have Amazon Web Services and you have
Amazon Web Services and you have
Amazon Web Services and you have original content and you have Alexa and
original content and you have Alexa and
original content and you have Alexa and so many other things how should we be
so many other things how should we be
so many other things how should we be thinking about Amazon yeah I do get that
thinking about Amazon yeah I do get that
thinking about Amazon yeah I do get that that is something that people get
that is something that people get
that is something that people get confused about some time what is Amazon
confused about some time what is Amazon
confused about some time what is Amazon we do such a diverse array of things
we do such a diverse array of things
we do such a diverse array of things from producing original content at
from producing original content at
from producing original content at Amazon Studios
Amazon Studios
Amazon Studios to Amazon Web Services where we sell you
to Amazon Web Services where we sell you
to Amazon Web Services where we sell you know startups and enterprises
know startups and enterprises
know startups and enterprises you know computing infrastructure to the
you know computing infrastructure to the
you know computing infrastructure to the things that most people know about which
things that most people know about which
things that most people know about which is our our consumer offering where we
is our our consumer offering where we
is our our consumer offering where we deliver things in little brown boxes and
deliver things in little brown boxes and
deliver things in little brown boxes and these things seem so disparate how is it
these things seem so disparate how is it
these things seem so disparate how is it that we’re doing all them and the common
that we’re doing all them and the common
that we’re doing all them and the common thread and really what it is is it’s an
thread and really what it is is it’s an
thread and really what it is is it’s an approach we have a very distinctive
approach we have a very distinctive
approach we have a very distinctive approach that we have been honing and
approach that we have been honing and
approach that we have been honing and refining and thinking about for 22 years
refining and thinking about for 22 years
refining and thinking about for 22 years and its really just a few principles
and its really just a few principles
and its really just a few principles that we use as we go about these
that we use as we go about these
that we use as we go about these activities at the very top of the list
activities at the very top of the list
activities at the very top of the list it’s one I’ve already mentioned but
it’s one I’ve already mentioned but
it’s one I’ve already mentioned but you’ll probably hear it 10 times
you’ll probably hear it 10 times
you’ll probably hear it 10 times throughout tonight because it’s so
throughout tonight because it’s so
throughout tonight because it’s so central and it is customer obsession its
central and it is customer obsession its
central and it is customer obsession its customer obsession instead of for
customer obsession instead of for
customer obsession instead of for example competitor obsession or business
example competitor obsession or business
example competitor obsession or business model obsession or a product obsession
model obsession or a product obsession
model obsession or a product obsession or technology obsession there are many
or technology obsession there are many
or technology obsession there are many ways to Center a business and and by the
ways to Center a business and and by the
ways to Center a business and and by the way many of them can work I know and and
way many of them can work I know and and
way many of them can work I know and and and have friends who lead very
and have friends who lead very
and have friends who lead very competitor obsessed companies and those
competitor obsessed companies and those
competitor obsessed companies and those companies can be successful you know
companies can be successful you know
companies can be successful you know that’s not a bad strategy
that’s not a bad strategy
that’s not a bad strategy you have to be really good at close
you have to be really good at close
you have to be really good at close following you identify winners when you
following you identify winners when you
following you identify winners when you watch you watch your competitors very
watch you watch your competitors very
watch you watch your competitors very carefully if they latch on to something
carefully if they latch on to something
carefully if they latch on to something that’s working you duplicated as quickly
that’s working you duplicated as quickly
that’s working you duplicated as quickly as possible it’s a very good strategy in
as possible it’s a very good strategy in
as possible it’s a very good strategy in some ways because you don’t have to go
some ways because you don’t have to go
some ways because you don’t have to go down blind alleys if you’re not
down blind alleys if you’re not
down blind alleys if you’re not pioneering if you’re only closed
pioneering if you’re only closed
pioneering if you’re only closed following and have some advantages but
following and have some advantages but
following and have some advantages but it has some disadvantages too and I like
it has some disadvantages too and I like
it has some disadvantages too and I like the customer obsession model I think
the customer obsession model I think
the customer obsession model I think it’s the right one it’s better than
it’s the right one it’s better than
it’s the right one it’s better than product obsession even a product
product obsession even a product
product obsession even a product recession is not bad but I think
recession is not bad but I think
recession is not bad but I think customer obsession gets you there in a
customer obsession gets you there in a
customer obsession gets you there in a healthier way so that’s one of the one
healthier way so that’s one of the one
healthier way so that’s one of the one of the principles one of the approaches
of the principles one of the approaches
of the principles one of the approaches that we take in every single thing that
that we take in every single thing that
that we take in every single thing that we do the second one is that we are
we do the second one is that we are
we do the second one is that we are willing I would say even eager to invent
willing I would say even eager to invent
willing I would say even eager to invent and pioneer so that is and that goes
and pioneer so that is and that goes
and pioneer so that is and that goes along it marries really well with
along it marries really well with
along it marries really well with customers session customers are always
customers session customers are always
customers session customers are always dissatisfied they even when they don’t
dissatisfied they even when they don’t
dissatisfied they even when they don’t know it even when they think they’re
know it even when they think they’re
know it even when they think they’re happy they actually do want a better way
happy they actually do want a better way
happy they actually do want a better way and they just don’t know yet what that
and they just don’t know yet what that
and they just don’t know yet what that should be and that’s why I always warn
should be and that’s why I always warn
should be and that’s why I always warn people customer obsession is not just
people customer obsession is not just
people customer obsession is not just listening to customers customer
listening to customers customer
listening to customers customer obsession is also inventing on their
obsession is also inventing on their
obsession is also inventing on their behalf because it’s not their job to
behalf because it’s not their job to
behalf because it’s not their job to invent for yourselves
invent for yourselves
invent for yourselves and so you need to be an inventor and a
and so you need to be an inventor and a
and so you need to be an inventor and a pioneer and the third one it’s really
pioneer and the third one it’s really
pioneer and the third one it’s really central to the way we think about all of
central to the way we think about all of
central to the way we think about all of our business problems and a bunch of
our business problems and a bunch of
our business problems and a bunch of things that Amazon is we’re long-term
things that Amazon is we’re long-term
things that Amazon is we’re long-term oriented so I ask everybody to not think
oriented so I ask everybody to not think
oriented so I ask everybody to not think in two to three-year timeframes but to
in two to three-year timeframes but to
in two to three-year timeframes but to think in five to seven year time frames
think in five to seven year time frames
think in five to seven year time frames to not think about when somebody says to
to not think about when somebody says to
to not think about when somebody says to me congratulate Amazon on a good quarter
me congratulate Amazon on a good quarter
me congratulate Amazon on a good quarter which is a very common thing to say you
which is a very common thing to say you
which is a very common thing to say you meet somebody they’re being nice they
meet somebody they’re being nice they
meet somebody they’re being nice they looked at your financial results for the
looked at your financial results for the
looked at your financial results for the quarter they like a quarter I say thank
quarter they like a quarter I say thank
quarter they like a quarter I say thank you but what I’m thinking to myself is
you but what I’m thinking to myself is
you but what I’m thinking to myself is that quarter all that those quarterly
that quarter all that those quarterly
that quarter all that those quarterly results were actually pretty much fully
results were actually pretty much fully
results were actually pretty much fully baked about three years ago and so like
baked about three years ago and so like
baked about three years ago and so like today I’m working on you know a quarter
today I’m working on you know a quarter
today I’m working on you know a quarter that is going to happen in 2020 not next
that is going to happen in 2020 not next
that is going to happen in 2020 not next quarter next quarter for all practical
quarter next quarter for all practical
quarter next quarter for all practical purposes is done already and it’s
purposes is done already and it’s
purposes is done already and it’s probably been done for a couple of years
probably been done for a couple of years
probably been done for a couple of years and so if you start to think that way
and so if you start to think that way
and so if you start to think that way it changes how you spend your time how
it changes how you spend your time how
it changes how you spend your time how you plan where you put your energy and
you plan where you put your energy and
you plan where you put your energy and and your ability look around corners
and your ability look around corners
and your ability look around corners gets better so many things improve if
gets better so many things improve if
gets better so many things improve if you can take a long time by the way it’s
you can take a long time by the way it’s
you can take a long time by the way it’s not natural for humans so it’s a it’s a
not natural for humans so it’s a it’s a
not natural for humans so it’s a it’s a discipline that you have to build the
discipline that you have to build the
discipline that you have to build the kind of you know get rich slowly schemes
kind of you know get rich slowly schemes
kind of you know get rich slowly schemes are not big sellers on infomercials you
are not big sellers on infomercials you
are not big sellers on infomercials you know it’s and so that’s something that
know it’s and so that’s something that
know it’s and so that’s something that you have to sort of steel yourself for
you have to sort of steel yourself for
you have to sort of steel yourself for discipline and teach
discipline and teach
discipline and teach over time so that that’s what is Amazon
over time so that that’s what is Amazon
over time so that that’s what is Amazon I would say really it’s a collection of
I would say really it’s a collection of
I would say really it’s a collection of principles and approach and it’s an
principles and approach and it’s an
principles and approach and it’s an approach that we deploy and and it’s
approach that we deploy and and it’s
approach that we deploy and and it’s fine I danced into work me too
fine I danced into work me too
fine I danced into work me too I’m not a good dancer we should get rich
I’m not a good dancer we should get rich
I’m not a good dancer we should get rich slowly as a book I probably should have
slowly as a book I probably should have
slowly as a book I probably should have gotten instead of this to finish a book
gotten instead of this to finish a book
gotten instead of this to finish a book but by the way you know I’m one of our
but by the way you know I’m one of our
but by the way you know I’m one of our award recipients earlier mentioned that
award recipients earlier mentioned that
award recipients earlier mentioned that you mentioned that you were happy you
you mentioned that you were happy you
you mentioned that you were happy you got rid of your bangs me too yeah I
got rid of your bangs me too yeah I
got rid of your bangs me too yeah I hated my bangs so it clearly clearly you
hated my bangs so it clearly clearly you
hated my bangs so it clearly clearly you do not take the success of Amazon
do not take the success of Amazon
do not take the success of Amazon lightly and you’re very involved in the
lightly and you’re very involved in the
lightly and you’re very involved in the company and one of the great things
company and one of the great things
company and one of the great things about the internet many of your
about the internet many of your
about the internet many of your competitors are in this room tonight and
competitors are in this room tonight and
competitors are in this room tonight and competitions a click away
competitions a click away
competitions a click away they’re probably people in garages
they’re probably people in garages
they’re probably people in garages across the country trying to start a
across the country trying to start a
across the country trying to start a next great Internet company like you did
next great Internet company like you did
next great Internet company like you did for sure and so what does keep you up at
for sure and so what does keep you up at
for sure and so what does keep you up at night when you think about the continued
night when you think about the continued
night when you think about the continued success of Amazon well first of all I
success of Amazon well first of all I
success of Amazon well first of all I I’m gifted but sleeping really well so
I’m gifted but sleeping really well so
I’m gifted but sleeping really well so the Met particular metaphor doesn’t work
the Met particular metaphor doesn’t work
the Met particular metaphor doesn’t work for me but I I know what you mean which
for me but I I know what you mean which
for me but I I know what you mean which is what could go wrong and what are you
is what could go wrong and what are you
is what could go wrong and what are you worried about and and for me the thing I
worried about and and for me the thing I
worried about and and for me the thing I worry about the most is that we would
worry about the most is that we would
worry about the most is that we would lose our way in one of those things that
lose our way in one of those things that
lose our way in one of those things that we would lose our our obsessive focus on
we would lose our our obsessive focus on
we would lose our our obsessive focus on customers or would somehow become
customers or would somehow become
customers or would somehow become short-term oriented or would you know
short-term oriented or would you know
short-term oriented or would you know and start to become overly cautious you
and start to become overly cautious you
and start to become overly cautious you know kind of failure averse and
know kind of failure averse and
know kind of failure averse and therefore unable to invent and pioneer
therefore unable to invent and pioneer
therefore unable to invent and pioneer you cannot invent and pioneer if you
you cannot invent and pioneer if you
you cannot invent and pioneer if you cannot accept failure to invent you need
cannot accept failure to invent you need
cannot accept failure to invent you need to experiment and if it’s if you know in
to experiment and if it’s if you know in
to experiment and if it’s if you know in advance that it’s going to work it is
advance that it’s going to work it is
advance that it’s going to work it is not an experiment and so that’s a very
not an experiment and so that’s a very
not an experiment and so that’s a very important thing you know it’s these they
important thing you know it’s these they
important thing you know it’s these they are inseparable twins failure and
are inseparable twins failure and
are inseparable twins failure and invention so you have to be willing to
invention so you have to be willing to
invention so you have to be willing to do that
do that
do that it’s embarrassing to fail
it’s embarrassing to fail
it’s embarrassing to fail and you know it’s always embarrassing to
and you know it’s always embarrassing to
and you know it’s always embarrassing to fail but you have to say no that’s not
fail but you have to say no that’s not
fail but you have to say no that’s not how this works if I said to you you have
how this works if I said to you you have
how this works if I said to you you have a 10% chance of a particular decision a
a 10% chance of a particular decision a
a 10% chance of a particular decision a 10% chance of a 100x return you should
10% chance of a 100x return you should
10% chance of a 100x return you should take that bet every time but you’re
take that bet every time but you’re
take that bet every time but you’re still going to be wrong nine out of ten
still going to be wrong nine out of ten
still going to be wrong nine out of ten times and it’s going to feel bad 910
times and it’s going to feel bad 910
times and it’s going to feel bad 910 times and in in in with technology the
times and in in in with technology the
times and in in in with technology the outcomes the results can be very long
outcomes the results can be very long
outcomes the results can be very long tailed it’s very the payoff is can be
tailed it’s very the payoff is can be
tailed it’s very the payoff is can be very asymmetric which is why you should
very asymmetric which is why you should
very asymmetric which is why you should do so much experimentation you know
do so much experimentation you know
do so much experimentation you know everybody knows that if you swing for
everybody knows that if you swing for
everybody knows that if you swing for the fences you hit more home runs but
the fences you hit more home runs but
the fences you hit more home runs but you also strike out more but with the
you also strike out more but with the
you also strike out more but with the baseball that analogy doesn’t go far
baseball that analogy doesn’t go far
baseball that analogy doesn’t go far enough because with baseball no matter
enough because with baseball no matter
enough because with baseball no matter how well you connect with the ball you
how well you connect with the ball you
how well you connect with the ball you can only get four runs the success is
can only get four runs the success is
can only get four runs the success is capped at four runs but in business
capped at four runs but in business
capped at four runs but in business every once in a while you step up to the
every once in a while you step up to the
every once in a while you step up to the plate you hit the ball so hard you get a
plate you hit the ball so hard you get a
plate you hit the ball so hard you get a thousand runs and so when that when you
thousand runs and so when that when you
thousand runs and so when that when you have that kind of asymmetric payoff and
have that kind of asymmetric payoff and
have that kind of asymmetric payoff and you know one f1 at back and get you a
you know one f1 at back and get you a
you know one f1 at back and get you a thousand runs it encourages you to
thousand runs it encourages you to
thousand runs it encourages you to experiment more it’s the right business
experiment more it’s the right business
experiment more it’s the right business decision to experiment more it’s also
decision to experiment more it’s also
decision to experiment more it’s also better for your customers customers like
better for your customers customers like
better for your customers customers like the successful experiments by the way
the successful experiments by the way
the successful experiments by the way this is a giant misconception in a lot
this is a giant misconception in a lot
this is a giant misconception in a lot of young entrepreneurs and experienced
of young entrepreneurs and experienced
of young entrepreneurs and experienced entrepreneurs that they meet one of the
entrepreneurs that they meet one of the
entrepreneurs that they meet one of the things that is very fashionable right
things that is very fashionable right
things that is very fashionable right now is to talk about how disruptive
now is to talk about how disruptive
now is to talk about how disruptive their business plan is going to be and
their business plan is going to be and
their business plan is going to be and the but invention is not disruptive only
the but invention is not disruptive only
the but invention is not disruptive only customer adoption is disruptive and
customer adoption is disruptive and
customer adoption is disruptive and Amazon we’ve invented a lot of things
Amazon we’ve invented a lot of things
Amazon we’ve invented a lot of things the customers did not care about at all
the customers did not care about at all
the customers did not care about at all and believe me they were not disruptive
and believe me they were not disruptive
and believe me they were not disruptive through anyone so it’s only when
through anyone so it’s only when
through anyone so it’s only when customers like the new way that anything
customers like the new way that anything
customers like the new way that anything becomes disruptive and so really it’s
becomes disruptive and so really it’s
becomes disruptive and so really it’s just saying that you want to you know if
just saying that you want to you know if
just saying that you want to you know if somebody comes to you with a business
somebody comes to you with a business
somebody comes to you with a business plan that they claim is disruptive you
plan that they claim is disruptive you
plan that they claim is disruptive you should ask them to explain it to you in
should ask them to explain it to you in
should ask them to explain it to you in simpler language and the simpler
simpler language and the simpler
simpler language and the simpler language is why are customers going to
language is why are customers going to
language is why are customers going to adopt this why are they going to like it
adopt this why are they going to like it
adopt this why are they going to like it why is it better
why is it better
why is it better than the traditional way so along those
than the traditional way so along those
than the traditional way so along those lines we have you know some press and
lines we have you know some press and
lines we have you know some press and media in the room is there something
media in the room is there something
media in the room is there something that you think people get wrong about
that you think people get wrong about
that you think people get wrong about Amazon that surprises you when you’re
Amazon that surprises you when you’re
Amazon that surprises you when you’re read about it or see it in media
read about it or see it in media
read about it or see it in media coverage well wrong I don’t know about
coverage well wrong I don’t know about
coverage well wrong I don’t know about wrong first of all we’ve been over 20
wrong first of all we’ve been over 20
wrong first of all we’ve been over 20 years on balance treated very fairly by
years on balance treated very fairly by
years on balance treated very fairly by the media and you know not every story
the media and you know not every story
the media and you know not every story that’s ever been written about us is the
that’s ever been written about us is the
that’s ever been written about us is the way we would have written it if we were
way we would have written it if we were
way we would have written it if we were writing it ourselves but but on balance
writing it ourselves but but on balance
writing it ourselves but but on balance very fairly treated and I you know so
very fairly treated and I you know so
very fairly treated and I you know so wrong might be too strong I think there
wrong might be too strong I think there
wrong might be too strong I think there there’s a piece of our business which is
there’s a piece of our business which is
there’s a piece of our business which is probably not fully appreciated the scale
probably not fully appreciated the scale
probably not fully appreciated the scale of it and what’s happening and the
of it and what’s happening and the
of it and what’s happening and the energy and the dynamism round it which
energy and the dynamism round it which
energy and the dynamism round it which is the third party seller part of our
is the third party seller part of our
is the third party seller part of our business so you know we have today
business so you know we have today
business so you know we have today roughly half of the company really is
roughly half of the company really is
roughly half of the company really is third party sales it’s small businesses
third party sales it’s small businesses
third party sales it’s small businesses there are a hundred thousand businesses
there are a hundred thousand businesses
there are a hundred thousand businesses on Amazon
on Amazon
on Amazon where the businesses make $100,000 or
where the businesses make $100,000 or
where the businesses make $100,000 or more a year and it’s it’s turned into
more a year and it’s it’s turned into
more a year and it’s it’s turned into you know a gigantic service for them we
you know a gigantic service for them we
you know a gigantic service for them we even let them stow their products and
even let them stow their products and
even let them stow their products and our fulfillment centers so that their
our fulfillment centers so that their
our fulfillment centers so that their products become prime eligible which
products become prime eligible which
products become prime eligible which increases their sales and a lot of
increases their sales and a lot of
increases their sales and a lot of people make their living on that you
people make their living on that you
people make their living on that you know that way and we’ve sort of we’ve
know that way and we’ve sort of we’ve
know that way and we’ve sort of we’ve extended that into other areas too we
extended that into other areas too we
extended that into other areas too we have a platform called Kindle direct
have a platform called Kindle direct
have a platform called Kindle direct publishing so authors can write books
publishing so authors can write books
publishing so authors can write books and then publish them directly and
and then publish them directly and
and then publish them directly and that’s become very successful so there
that’s become very successful so there
that’s become very successful so there are a lot of authors making plays have
are a lot of authors making plays have
are a lot of authors making plays have done that Chris shootin our economists
done that Chris shootin our economists
done that Chris shootin our economists had the book published on that right
had the book published on that right
had the book published on that right very good and it’s it’s we get people
very good and it’s it’s we get people
very good and it’s it’s we get people make they make livings I mean they’re
make they make livings I mean they’re
make they make livings I mean they’re people who I have so many emails from
people who I have so many emails from
people who I have so many emails from authors saying I you know because of
authors saying I you know because of
authors saying I you know because of this program I’ve been able to quit my
this program I’ve been able to quit my
this program I’ve been able to quit my job and they usually come they won’t
job and they usually come they won’t
job and they usually come they won’t they already have like 25 rejection
they already have like 25 rejection
they already have like 25 rejection letters from traditional publishers and
letters from traditional publishers and
letters from traditional publishers and because their book didn’t fit in a
because their book didn’t fit in a
because their book didn’t fit in a category or didn’t seem right and so on
category or didn’t seem right and so on
category or didn’t seem right and so on but readers disagreed and so one of the
but readers disagreed and so one of the
but readers disagreed and so one of the things that you get when you let people
things that you get when you let people
things that you get when you let people when you you know I think this is more
when you you know I think this is more
when you you know I think this is more like gardening you kind of get all the
like gardening you kind of get all the
like gardening you kind of get all the nutrients right in the soil and then you
nutrients right in the soil and then you
nutrients right in the soil and then you see what comes up and that’s what
see what comes up and that’s what
see what comes up and that’s what happens with these third-party
happens with these third-party
happens with these third-party businesses you know we don’t plan which
businesses you know we don’t plan which
businesses you know we don’t plan which books people are going to write we just
books people are going to write we just
books people are going to write we just provide a service that makes it really
provide a service that makes it really
provide a service that makes it really easy for them to contact and reach
easy for them to contact and reach
easy for them to contact and reach readers and then they create these they
readers and then they create these they
readers and then they create these they create new things
create new things
create new things same thing with Amazon Web Services you
same thing with Amazon Web Services you
same thing with Amazon Web Services you know we create a set of tools and then
know we create a set of tools and then
know we create a set of tools and then you know software developers and
you know software developers and
you know software developers and companies that employ software
companies that employ software
companies that employ software developers they figure out surprising
developers they figure out surprising
developers they figure out surprising and amazing things to build with these
and amazing things to build with these
and amazing things to build with these tools and so empowering these third
tools and so empowering these third
tools and so empowering these third parties to do things is probably
parties to do things is probably
parties to do things is probably starting with our third-party sellers
starting with our third-party sellers
starting with our third-party sellers and authors and an AWS probably probably
and authors and an AWS probably probably
and authors and an AWS probably probably the biggest thing that most I would say
the biggest thing that most I would say
the biggest thing that most I would say consumers I don’t appreciate about
consumers I don’t appreciate about
consumers I don’t appreciate about Amazon and good investors understand it
Amazon and good investors understand it
Amazon and good investors understand it very well I love them clapping okay so
very well I love them clapping okay so
very well I love them clapping okay so ten so ten years ago you mentioned AWS
ten so ten years ago you mentioned AWS
ten so ten years ago you mentioned AWS so that your amazon has changed so much
so that your amazon has changed so much
so that your amazon has changed so much in ten years ten years ago you barely in
in ten years ten years ago you barely in
in ten years ten years ago you barely in cloud computing yeah certainly not we
cloud computing yeah certainly not we
cloud computing yeah certainly not we just got started and cloud started it or
just got started and cloud started it or
just got started and cloud started it or certainly not another overnight success
certainly not another overnight success
certainly not another overnight success I’ve noticed all overnight successes
I’ve noticed all overnight successes
I’ve noticed all overnight successes take about ten years that’s the right
take about ten years that’s the right
take about ten years that’s the right that’s the right amount of time probably
that’s the right amount of time probably
that’s the right amount of time probably so we’re five years away is it you start
so we’re five years away is it you start
so we’re five years away is it you start something and just start the clock any
something and just start the clock any
something and just start the clock any year now so Amazon has changed so much
year now so Amazon has changed so much
year now so Amazon has changed so much over over that period of time key
over over that period of time key
over over that period of time key preview or predict maybe what Amazon’s
preview or predict maybe what Amazon’s
preview or predict maybe what Amazon’s going to look like ten years from now
going to look like ten years from now
going to look like ten years from now well um that’s a very good question
well um that’s a very good question
well um that’s a very good question I think on the outside you know kind of
I think on the outside you know kind of
I think on the outside you know kind of hope you know the observable Amazon
hope you know the observable Amazon
hope you know the observable Amazon could change quite a bit just as you
could change quite a bit just as you
could change quite a bit just as you said you know ten years ago you wouldn’t
said you know ten years ago you wouldn’t
said you know ten years ago you wouldn’t think that AWS would be such a
think that AWS would be such a
think that AWS would be such a significant contributor to the business
significant contributor to the business
significant contributor to the business and there could be more things like that
and there could be more things like that
and there could be more things like that in a kind of 10-year time frame that we
in a kind of 10-year time frame that we
in a kind of 10-year time frame that we don’t know about and the one thing I
don’t know about and the one thing I
don’t know about and the one thing I hope will not change of course is that
hope will not change of course is that
hope will not change of course is that approach that I outlined at the
approach that I outlined at the
approach that I outlined at the beginning you know the customer
beginning you know the customer
beginning you know the customer obsession the willingness to invent
obsession the willingness to invent
obsession the willingness to invent the patient’s letting things develop
the patient’s letting things develop
the patient’s letting things develop accepting failure as a path to getting
accepting failure as a path to getting
accepting failure as a path to getting success by the way one thing I should
success by the way one thing I should
success by the way one thing I should point out about failure and this is a
point out about failure and this is a
point out about failure and this is a fine point internally we take it we know
fine point internally we take it we know
fine point internally we take it we know it we don’t need to talk about it much
it we don’t need to talk about it much
it we don’t need to talk about it much but there’s a different kind of failure
but there’s a different kind of failure
but there’s a different kind of failure which is not what you want that’s where
which is not what you want that’s where
which is not what you want that’s where you have operating history and you do
you have operating history and you do
you have operating history and you do know what you’re doing and you just
know what you’re doing and you just
know what you’re doing and you just screw it up so that’s not a good thing
screw it up so that’s not a good thing
screw it up so that’s not a good thing that’s not an experiment that’s just bad
that’s not an experiment that’s just bad
that’s not an experiment that’s just bad operation operational excellence and so
operation operational excellence and so
operation operational excellence and so like if we’ve opened 130 fulfillment
like if we’ve opened 130 fulfillment
like if we’ve opened 130 fulfillment centers we’re on generation 8 of our
centers we’re on generation 8 of our
centers we’re on generation 8 of our fulfillment center technology if we open
fulfillment center technology if we open
fulfillment center technology if we open a new fulfillment center and just woof
a new fulfillment center and just woof
a new fulfillment center and just woof it you know we have to do some internal
it you know we have to do some internal
it you know we have to do some internal examination that’s not an experiment
examination that’s not an experiment
examination that’s not an experiment that’s just bad execution so there’s
that’s just bad execution so there’s
that’s just bad execution so there’s different kinds of failure and you need
different kinds of failure and you need
different kinds of failure and you need to make sure you’re making the right
to make sure you’re making the right
to make sure you’re making the right kind of failure the right kind of
kind of failure the right kind of
kind of failure the right kind of failure should be an invention it should
failure should be an invention it should
failure should be an invention it should be something that you know it’s an
be something that you know it’s an
be something that you know it’s an experiment you don’t know if it’s going
experiment you don’t know if it’s going
experiment you don’t know if it’s going to work and you know up front that you
to work and you know up front that you
to work and you know up front that you don’t know if it’s going to work that
don’t know if it’s going to work that
don’t know if it’s going to work that shouldn’t be opening a new fulfillment
shouldn’t be opening a new fulfillment
shouldn’t be opening a new fulfillment center for us I’m not sure I answer your
center for us I’m not sure I answer your
center for us I’m not sure I answer your question I got distracted by failure
question I got distracted by failure
question I got distracted by failure I’ve lived so comfortably with failure
I’ve lived so comfortably with failure
I’ve lived so comfortably with failure for so long that I you know I revert
for so long that I you know I revert
for so long that I you know I revert there on a dime you know it’s an
there on a dime you know it’s an
there on a dime you know it’s an important distinction though between the
important distinction though between the
important distinction though between the two it is so oh but the things that will
two it is so oh but the things that will
two it is so oh but the things that will stay the same over ten years the Pope we
stay the same over ten years the Pope we
stay the same over ten years the Pope we the approach will stay the same and then
the approach will stay the same and then
the approach will stay the same and then the other thing I would advise any
the other thing I would advise any
the other thing I would advise any entrepreneur or large business or large
entrepreneur or large business or large
entrepreneur or large business or large organization you know like government
organization you know like government
organization you know like government organization is you need to identify
organization is you need to identify
organization is you need to identify your big ideas and there should only be
your big ideas and there should only be
your big ideas and there should only be two or three of them and then if a
two or three of them and then if a
two or three of them and then if a senior leader the main job of a senior
senior leader the main job of a senior
senior leader the main job of a senior leader is to identify two or three
leader is to identify two or three
leader is to identify two or three important ideas and then to enforce
important ideas and then to enforce
important ideas and then to enforce great execution against those big ideas
great execution against those big ideas
great execution against those big ideas and the good news is that the big ideas
and the good news is that the big ideas
and the good news is that the big ideas are usually incredibly easy to identify
are usually incredibly easy to identify
are usually incredibly easy to identify you shouldn’t need to think about them
you shouldn’t need to think about them
you shouldn’t need to think about them very much you already know what they are
very much you already know what they are
very much you already know what they are let me give you an example for Amazon
let me give you an example for Amazon
let me give you an example for Amazon the consumer business the three big
the consumer business the three big
the consumer business the three big ideas are low prices
ideas are low prices
ideas are low prices fast delivery and vast selection you
fast delivery and vast selection you
fast delivery and vast selection you don’t need you know it’s not the kind in
don’t need you know it’s not the kind in
don’t need you know it’s not the kind in the way the way you know that they’re
the way the way you know that they’re
the way the way you know that they’re the big ideas because they’re so obvious
the big ideas because they’re so obvious
the big ideas because they’re so obvious the big ideas should be obvious and by
the big ideas should be obvious and by
the big ideas should be obvious and by the way it’s very hard to maintain a
the way it’s very hard to maintain a
the way it’s very hard to maintain a firm grasp of the obvious at all times
firm grasp of the obvious at all times
firm grasp of the obvious at all times so little things can distract you from
so little things can distract you from
so little things can distract you from the obvious but you have to back up and
the obvious but you have to back up and
the obvious but you have to back up and say these are the three big ideas how do
say these are the three big ideas how do
say these are the three big ideas how do we always deliver things a little faster
we always deliver things a little faster
we always deliver things a little faster how do we always reduce our cost
how do we always reduce our cost
how do we always reduce our cost structure so that we can have prices
structure so that we can have prices
structure so that we can have prices that are a little lower and the good
that are a little lower and the good
that are a little lower and the good thing about these big ideas is they will
thing about these big ideas is they will
thing about these big ideas is they will be stable in time so I know for a fact
be stable in time so I know for a fact
be stable in time so I know for a fact that ten years from now customers are
that ten years from now customers are
that ten years from now customers are still going to like low prices no matter
still going to like low prices no matter
still going to like low prices no matter what happens with technology and
what happens with technology and
what happens with technology and everything else no matter what happens
everything else no matter what happens
everything else no matter what happens people are going to like faster delivery
people are going to like faster delivery
people are going to like faster delivery it is impossible for me to imagine a
it is impossible for me to imagine a
it is impossible for me to imagine a scenario where 10 years from now a
scenario where 10 years from now a
scenario where 10 years from now a customer comes to me and says Jeff I
customer comes to me and says Jeff I
customer comes to me and says Jeff I love Amazon I just wish you delivered a
love Amazon I just wish you delivered a
love Amazon I just wish you delivered a little more slowly this is so
little more slowly this is so
little more slowly this is so inconceivable that you have you can have
inconceivable that you have you can have
inconceivable that you have you can have great conviction as a leader to continue
great conviction as a leader to continue
great conviction as a leader to continue to put energy into driving speed of
to put energy into driving speed of
to put energy into driving speed of delivery and whatever you’re you know an
delivery and whatever you’re you know an
delivery and whatever you’re you know an AWS I know that customers they like low
AWS I know that customers they like low
AWS I know that customers they like low prices they like availability they don’t
prices they like availability they don’t
prices they like availability they don’t want the services to be down there like
want the services to be down there like
want the services to be down there like data security it’s not very hard to
data security it’s not very hard to
data security it’s not very hard to figure out what the big ideas are and
figure out what the big ideas are and
figure out what the big ideas are and then you can keep putting energy into
then you can keep putting energy into
then you can keep putting energy into those things and you spin up those five
those things and you spin up those five
those things and you spin up those five wheels and they’ll still be paying you
wheels and they’ll still be paying you
wheels and they’ll still be paying you dividends 10 years from now and what I
dividends 10 years from now and what I
dividends 10 years from now and what I would say I’m putting it in kind of a
would say I’m putting it in kind of a
would say I’m putting it in kind of a business context but for those of you
business context but for those of you
business context but for those of you who are in government these principles
who are in government these principles
who are in government these principles would apply identically identically to a
would apply identically identically to a
would apply identically identically to a government organization you should
government organization you should
government organization you should figure out what the big ideas are and
figure out what the big ideas are and
figure out what the big ideas are and just spin up flywheels get those things
just spin up flywheels get those things
just spin up flywheels get those things rolling make sure that you pick things
rolling make sure that you pick things
rolling make sure that you pick things it’ll still be true 10 years from now 20
it’ll still be true 10 years from now 20
it’ll still be true 10 years from now 20 years from now so on big ideas
years from now so on big ideas
years from now so on big ideas artificial intelligence is something
artificial intelligence is something
artificial intelligence is something that I think has captured the
that I think has captured the
that I think has captured the imagination of Washington and and
imagination of Washington and and
imagination of Washington and and probably the rest of the country in the
probably the rest of the country in the
probably the rest of the country in the world what is what is Amazon’s approach
world what is what is Amazon’s approach
world what is what is Amazon’s approach to artificial intelligence first of all
to artificial intelligence first of all
to artificial intelligence first of all this is artificial intelligent
this is artificial intelligent
this is artificial intelligent artificial intelligence
artificial intelligence
artificial intelligence this is it is a Renaissance it is a
this is it is a Renaissance it is a
this is it is a Renaissance it is a golden age we are now solving problems
golden age we are now solving problems
golden age we are now solving problems with machine learning and artificial
with machine learning and artificial
with machine learning and artificial intelligence that were you know kind of
intelligence that were you know kind of
intelligence that were you know kind of in the realm of science fiction for the
in the realm of science fiction for the
in the realm of science fiction for the last several decades and natural
last several decades and natural
last several decades and natural language understanding machine vision
language understanding machine vision
language understanding machine vision problems it really is it is an amazing
problems it really is it is an amazing
problems it really is it is an amazing renaissance and for decades
renaissance and for decades
renaissance and for decades AI researchers kind of struggled and
AI researchers kind of struggled and
AI researchers kind of struggled and made very very slow progress and over
made very very slow progress and over
made very very slow progress and over the last ten years it you know it looks
the last ten years it you know it looks
the last ten years it you know it looks like one of those s curves you’re just
like one of those s curves you’re just
like one of those s curves you’re just making a lot of progress for a rapid
making a lot of progress for a rapid
making a lot of progress for a rapid over the last ten years the machine
over the last ten years the machine
over the last ten years the machine learning and AI is a horizontal enabling
learning and AI is a horizontal enabling
learning and AI is a horizontal enabling layer it will empower and improve every
layer it will empower and improve every
layer it will empower and improve every business every government organization
business every government organization
business every government organization every philanthropy every basically
every philanthropy every basically
every philanthropy every basically there’s no institution in the world that
there’s no institution in the world that
there’s no institution in the world that cannot be improved with machine learning
cannot be improved with machine learning
cannot be improved with machine learning so the Amazon you know some of the
so the Amazon you know some of the
so the Amazon you know some of the things we’re doing are super obvious so
things we’re doing are super obvious so
things we’re doing are super obvious so they’re kind of superficially obvious in
they’re kind of superficially obvious in
they’re kind of superficially obvious in there and they’re interesting and
there and they’re interesting and
there and they’re interesting and they’re cool and you should pay
they’re cool and you should pay
they’re cool and you should pay attention to thinking about things like
attention to thinking about things like
attention to thinking about things like Alexa and echo you know our voice
Alexa and echo you know our voice
Alexa and echo you know our voice assistant for thinking about our
assistant for thinking about our
assistant for thinking about our autonomous primary delivery drones those
autonomous primary delivery drones those
autonomous primary delivery drones those things use a tremendous amount of
things use a tremendous amount of
things use a tremendous amount of machine learning machine vision systems
machine learning machine vision systems
machine learning machine vision systems natural language understanding and a
natural language understanding and a
natural language understanding and a bunch of other techniques and those but
bunch of other techniques and those but
bunch of other techniques and those but those are kind of the shellye ones and i
those are kind of the shellye ones and i
those are kind of the shellye ones and i would say a lot of the value that we’re
would say a lot of the value that we’re
would say a lot of the value that we’re getting from machine learning is
getting from machine learning is
getting from machine learning is actually happening you know kind of
actually happening you know kind of
actually happening you know kind of beneath the surface and it is things
beneath the surface and it is things
beneath the surface and it is things like improved search results improved
like improved search results improved
like improved search results improved product recommendations for customers
product recommendations for customers
product recommendations for customers improve forecasting for inventory
improve forecasting for inventory
improve forecasting for inventory management and and and literally
management and and and literally
management and and and literally hundreds of other things beneath the
hundreds of other things beneath the
hundreds of other things beneath the surface and then I’d say the most
surface and then I’d say the most
surface and then I’d say the most exciting thing that I think we’re
exciting thing that I think we’re
exciting thing that I think we’re working on in machine learning is that
working on in machine learning is that
working on in machine learning is that we are determined to through Amazon Web
we are determined to through Amazon Web
we are determined to through Amazon Web Services where we have all these
Services where we have all these
Services where we have all these customers who are corporations and
customers who are corporations and
customers who are corporations and software developers to make these
software developers to make these
software developers to make these advanced techniques accessible to
advanced techniques accessible to
advanced techniques accessible to to every organization even if they don’t
to every organization even if they don’t
to every organization even if they don’t have kind of the current class of
have kind of the current class of
have kind of the current class of expertise that’s required right now
expertise that’s required right now
expertise that’s required right now deploying these techniques for your
deploying these techniques for your
deploying these techniques for your particular institutions problems is
particular institutions problems is
particular institutions problems is difficult it takes a lot of expertise
difficult it takes a lot of expertise
difficult it takes a lot of expertise and so you have to go compete for the
and so you have to go compete for the
and so you have to go compete for the very best PhDs in machine learning and
very best PhDs in machine learning and
very best PhDs in machine learning and you get them and it’s difficult for a
you get them and it’s difficult for a
you get them and it’s difficult for a lot of organizations to win those
lot of organizations to win those
lot of organizations to win those competitions and so we’re in a great
competitions and so we’re in a great
competitions and so we’re in a great position because of the success of
position because of the success of
position because of the success of Amazon Web Services to be able to put
Amazon Web Services to be able to put
Amazon Web Services to be able to put energy into making those techniques easy
energy into making those techniques easy
energy into making those techniques easy and accessible and so we’re determined
and accessible and so we’re determined
and accessible and so we’re determined to do I think we can build a great
to do I think we can build a great
to do I think we can build a great business doing that for ourselves and it
business doing that for ourselves and it
business doing that for ourselves and it would be incredibly enabling for
would be incredibly enabling for
would be incredibly enabling for organizations that want to use these
organizations that want to use these
organizations that want to use these these sophisticated technologies to
these sophisticated technologies to
these sophisticated technologies to improve their own organizations we have
improve their own organizations we have
improve their own organizations we have quite a few policy makers and elected
quite a few policy makers and elected
quite a few policy makers and elected officials and people from the
officials and people from the
officials and people from the administration here so I’ve ever missed
administration here so I’ve ever missed
administration here so I’ve ever missed it not to ask how do you interface with
it not to ask how do you interface with
it not to ask how do you interface with the administration and how are you
the administration and how are you
the administration and how are you working with elected officials in
working with elected officials in
working with elected officials in general well I think probably the
general well I think probably the
general well I think probably the probably the pretty normal the normal
probably the pretty normal the normal
probably the pretty normal the normal ways we have a fantastic public policy
ways we have a fantastic public policy
ways we have a fantastic public policy organization here you guys already met
organization here you guys already met
organization here you guys already met brian jay carney we have a bunch of
brian jay carney we have a bunch of
brian jay carney we have a bunch of people here in washington we’ve you know
people here in washington we’ve you know
people here in washington we’ve you know over time we’ve grown that group we also
over time we’ve grown that group we also
over time we’ve grown that group we also do things at the state level we’re doing
do things at the state level we’re doing
do things at the state level we’re doing a little bit at certain municipal levels
a little bit at certain municipal levels
a little bit at certain municipal levels too we work hard at it
too we work hard at it
too we work hard at it it’s really important to work hard at it
it’s really important to work hard at it
it’s really important to work hard at it you can’t just pretend that when you
you can’t just pretend that when you
you can’t just pretend that when you know that everything is the people know
know that everything is the people know
know that everything is the people know everything and you don’t have to educate
everything and you don’t have to educate
everything and you don’t have to educate them and and we try to stay I would say
them and and we try to stay I would say
them and and we try to stay I would say the main thing we try to do and I think
the main thing we try to do and I think
the main thing we try to do and I think we’re pretty good at it it stayed very
we’re pretty good at it it stayed very
we’re pretty good at it it stayed very issues focused so we try to stay you
issues focused so we try to stay you
issues focused so we try to stay you know on the things that are specific to
know on the things that are specific to
know on the things that are specific to Amazon and our customers and our
Amazon and our customers and our
Amazon and our customers and our employees and and not try to we don’t
employees and and not try to we don’t
employees and and not try to we don’t need to have it as a company our
need to have it as a company our
need to have it as a company our employees are free to have opinions
employees are free to have opinions
employees are free to have opinions about every issue they choose to have an
about every issue they choose to have an
about every issue they choose to have an opinion about
opinion about
opinion about they can have opinions about anything
they can have opinions about anything
they can have opinions about anything they want I feel like Amazon needs to be
they want I feel like Amazon needs to be
they want I feel like Amazon needs to be a little more you know laser focus than
a little more you know laser focus than
a little more you know laser focus than that on things that are important to our
that on things that are important to our
that on things that are important to our customers or to our employees as a group
customers or to our employees as a group
customers or to our employees as a group and so we I think we our team does that
and so we I think we our team does that
and so we I think we our team does that they keep us very disciplined in that
they keep us very disciplined in that
they keep us very disciplined in that way I agree I think you’ve a great team
way I agree I think you’ve a great team
way I agree I think you’ve a great team and just between us thank you yeah well
and just between us thank you yeah well
and just between us thank you yeah well cover your ears right so Africa get all
cover your ears right so Africa get all
cover your ears right so Africa get all the blushing through off the record it’s
the blushing through off the record it’s
the blushing through off the record it’s actually turning red of a couple few
actually turning red of a couple few
actually turning red of a couple few more questions that no we’re running out
more questions that no we’re running out
more questions that no we’re running out of time and so you’d mentioned at a
of time and so you’d mentioned at a
of time and so you’d mentioned at a shareholders meeting maybe last year the
shareholders meeting maybe last year the
shareholders meeting maybe last year the previous year about how Amazon can use
previous year about how Amazon can use
previous year about how Amazon can use its scale for sustainability yeah and
its scale for sustainability yeah and
its scale for sustainability yeah and environment any thing you want to get we
environment any thing you want to get we
environment any thing you want to get we and so you know for us this is we have
and so you know for us this is we have
and so you know for us this is we have done a couple of things that I think
done a couple of things that I think
done a couple of things that I think where I think everybody inside the
where I think everybody inside the
where I think everybody inside the organization is very proud of and it’s
organization is very proud of and it’s
organization is very proud of and it’s been hard work but it’s paying off and
been hard work but it’s paying off and
been hard work but it’s paying off and we have a program called
we have a program called
we have a program called frustration-free packaging we’re working
frustration-free packaging we’re working
frustration-free packaging we’re working on for roughly ten years and it’s a
on for roughly ten years and it’s a
on for roughly ten years and it’s a simple idea but incredibly hard to
simple idea but incredibly hard to
simple idea but incredibly hard to execute we go to manufacturers and we
execute we go to manufacturers and we
execute we go to manufacturers and we say look you are producing this thing in
say look you are producing this thing in
say look you are producing this thing in a four color printed package with a
a four color printed package with a
a four color printed package with a cellophane window and lots of twisty
cellophane window and lots of twisty
cellophane window and lots of twisty wire ties or worst case the what do they
wire ties or worst case the what do they
wire ties or worst case the what do they call those things the clamshell
call those things the clamshell
call those things the clamshell packaging where they feel it an
packaging where they feel it an
packaging where they feel it an indestructible plastic and you know I
indestructible plastic and you know I
indestructible plastic and you know I actually looked it up there is a
actually looked it up there is a
actually looked it up there is a Wikipedia entry for packaging rage or
Wikipedia entry for packaging rage or
Wikipedia entry for packaging rage or something like that there’s a term for
something like that there’s a term for
something like that there’s a term for this and that that Wikipedia entry has
this and that that Wikipedia entry has
this and that that Wikipedia entry has the number I don’t remember the number
the number I don’t remember the number
the number I don’t remember the number now there’s thousands the number of
now there’s thousands the number of
now there’s thousands the number of people who go to the emergency room per
people who go to the emergency room per
people who go to the emergency room per year trying to open that indestructible
year trying to open that indestructible
year trying to open that indestructible bubble packaging that and but why do
bubble packaging that and but why do
bubble packaging that and but why do people why do manufacturers put things
people why do manufacturers put things
people why do manufacturers put things in that packaging that kind of packaging
in that packaging that kind of packaging
in that packaging that kind of packaging it’s but not cheap that packaging is
it’s but not cheap that packaging is
it’s but not cheap that packaging is expensive it’s hard to recycle it has a
expensive it’s hard to recycle it has a
expensive it’s hard to recycle it has a bunch of flaws but it shows off the
bunch of flaws but it shows off the
bunch of flaws but it shows off the product well so the when it’s hanging on
product well so the when it’s hanging on
product well so the when it’s hanging on a
a
a look in a store shelf or something as
look in a store shelf or something as
look in a store shelf or something as you walk by you can actually see the
you walk by you can actually see the
you walk by you can actually see the product cuz it’s sealed in clear plastic
product cuz it’s sealed in clear plastic
product cuz it’s sealed in clear plastic and of course that Amazon that doesn’t
and of course that Amazon that doesn’t
and of course that Amazon that doesn’t matter at all you know we’re going to
matter at all you know we’re going to
matter at all you know we’re going to show you great pictures of the product
show you great pictures of the product
show you great pictures of the product and videos and the product and customer
and videos and the product and customer
and videos and the product and customer reviews of the product the product can
reviews of the product the product can
reviews of the product the product can be sealed in a tiny little cardboard box
be sealed in a tiny little cardboard box
be sealed in a tiny little cardboard box that’s easy to open and and so we’ve
that’s easy to open and and so we’ve
that’s easy to open and and so we’ve started this program and and we teach
started this program and and we teach
started this program and and we teach people how to make internet packaging
people how to make internet packaging
people how to make internet packaging that is a very efficient easy recycle
that is a very efficient easy recycle
that is a very efficient easy recycle easy to open and we this something like
easy to open and we this something like
easy to open and we this something like just in the past year we have saved
just in the past year we have saved
just in the past year we have saved 55,000 tons of waste as a result of this
55,000 tons of waste as a result of this
55,000 tons of waste as a result of this program we and
and we have gone we have now started
and we have gone we have now started putting solar cells on the roofs of all
putting solar cells on the roofs of all
putting solar cells on the roofs of all of our fulfillment centers we’re doing
of our fulfillment centers we’re doing
of our fulfillment centers we’re doing 15 this year
15 this year
15 this year these are big fulfillment centers there
these are big fulfillment centers there
these are big fulfillment centers there are they’re about a million square feet
are they’re about a million square feet
are they’re about a million square feet each and so we’re covering them with
each and so we’re covering them with
each and so we’re covering them with sourcils that’ll cover about 80% of the
sourcils that’ll cover about 80% of the
sourcils that’ll cover about 80% of the fulfillment centers energy budget on an
fulfillment centers energy budget on an
fulfillment centers energy budget on an annual basis we have built we are the
annual basis we have built we are the
annual basis we have built we are the largest purchaser in the world largest
largest purchaser in the world largest
largest purchaser in the world largest corporate purchaser in the world of
corporate purchaser in the world of
corporate purchaser in the world of renewable energy and I don’t know I’ll
renewable energy and I don’t know I’ll
renewable energy and I don’t know I’ll screw up the figure because they guarded
screw up the figure because they guarded
screw up the figure because they guarded something like 3.6 million megawatt
something like 3.6 million megawatt
something like 3.6 million megawatt hours per year we’ve built solar farms
hours per year we’ve built solar farms
hours per year we’ve built solar farms and solar wind farms and so it’s you
and solar wind farms and so it’s you
and solar wind farms and so it’s you know we keep just rolling this out and
know we keep just rolling this out and
know we keep just rolling this out and we have a goal long term of being
we have a goal long term of being
we have a goal long term of being completely renewable so it’ll take a
completely renewable so it’ll take a
completely renewable so it’ll take a long time but the good news is these are
long time but the good news is these are
long time but the good news is these are these are not only great for the you
these are not only great for the you
these are not only great for the you know the environment they’re good
know the environment they’re good
know the environment they’re good business decisions too you know the
business decisions too you know the
business decisions too you know the technologies have improved to build a
technologies have improved to build a
technologies have improved to build a solar farm or wind farm now you know it
solar farm or wind farm now you know it
solar farm or wind farm now you know it you’re these are competitive
you’re these are competitive
you’re these are competitive technologies with natural gas power
technologies with natural gas power
technologies with natural gas power plants and other things so you can
plants and other things so you can
plants and other things so you can actually do it and and and feel like
actually do it and and and feel like
actually do it and and and feel like you’re making a sensible business
you’re making a sensible business
you’re making a sensible business decision so I think a lot of companies
decision so I think a lot of companies
decision so I think a lot of companies will do this in the future I think they
will do this in the future I think they
will do this in the future I think they should do it so we’re having fun with
should do it so we’re having fun with
should do it so we’re having fun with all that I have one final question that
all that I have one final question that
all that I have one final question that I that I have to ask as we’re running
I that I have to ask as we’re running
I that I have to ask as we’re running out of time it’s a shared passion of
out of time it’s a shared passion of
out of time it’s a shared passion of ours I went to Space Camp as a child and
ours I went to Space Camp as a child and
ours I went to Space Camp as a child and and you have a rocket company I knew I
and you have a rocket company I knew I
and you have a rocket company I knew I liked you right away yeah we have so
liked you right away yeah we have so
liked you right away yeah we have so much we’ve so much in common so a little
much we’ve so much in common so a little
much we’ve so much in common so a little Space Camp it’s my kind of person that’s
Space Camp it’s my kind of person that’s
Space Camp it’s my kind of person that’s oh don’t see on the time that’s gonna be
oh don’t see on the time that’s gonna be
oh don’t see on the time that’s gonna be – enough – so your rocket company Blue
– enough – so your rocket company Blue
– enough – so your rocket company Blue Origin yeah it’s really taking off doing
Origin yeah it’s really taking off doing
Origin yeah it’s really taking off doing well how do you see that company you
well how do you see that company you
well how do you see that company you know evolving in the future future of
know evolving in the future future of
know evolving in the future future of space anything well Sharon brewer
space anything well Sharon brewer
space anything well Sharon brewer so okay first of all I love space I have
so okay first of all I love space I have
so okay first of all I love space I have been a space lover since I was a 5 year
been a space lover since I was a 5 year
been a space lover since I was a 5 year old boy
old boy
old boy and I feel like I won the lottery with
and I feel like I won the lottery with
and I feel like I won the lottery with Amazon I know I won the lottery and and
Amazon I know I won the lottery and and
Amazon I know I won the lottery and and now I’m investing those lottery winnings
now I’m investing those lottery winnings
now I’m investing those lottery winnings in Blue Origin which is the space
in Blue Origin which is the space
in Blue Origin which is the space company we built
company we built
company we built we’re built we are flying a several
we’re built we are flying a several
we’re built we are flying a several rural tourism vehicle and we’ll start
rural tourism vehicle and we’ll start
rural tourism vehicle and we’ll start taking people up hopefully in 2018
taking people up hopefully in 2018
taking people up hopefully in 2018 that’s coming right up working out for
that’s coming right up working out for
that’s coming right up working out for more than ten years hopefully this one
more than ten years hopefully this one
more than ten years hopefully this one this overnight success is taking longer
this overnight success is taking longer
this overnight success is taking longer than 10 years I don’t know we’ll see you
than 10 years I don’t know we’ll see you
than 10 years I don’t know we’ll see you know and we’re also building an orbital
know and we’re also building an orbital
know and we’re also building an orbital vehicle called new Glen new Sheppard is
vehicle called new Glen new Sheppard is
vehicle called new Glen new Sheppard is named it for Alan Shepard the first
named it for Alan Shepard the first
named it for Alan Shepard the first American in space he went on a
American in space he went on a
American in space he went on a suborbital journey new Glen is named
suborbital journey new Glen is named
suborbital journey new Glen is named after the American hero John Glenn who
after the American hero John Glenn who
after the American hero John Glenn who was the first American to orbit the
was the first American to orbit the
was the first American to orbit the earth and so these are both these are
earth and so these are both these are
earth and so these are both these are reusable boosters fully reusable that’s
reusable boosters fully reusable that’s
reusable boosters fully reusable that’s the key to lowering the cost our vision
the key to lowering the cost our vision
the key to lowering the cost our vision of Blue Origin is that we want millions
of Blue Origin is that we want millions
of Blue Origin is that we want millions of people living and working in space
of people living and working in space
of people living and working in space and my personal hope is that I live long
and my personal hope is that I live long
and my personal hope is that I live long enough to see the kind of dynamism in
enough to see the kind of dynamism in
enough to see the kind of dynamism in space I want to see a whole economy
space I want to see a whole economy
space I want to see a whole economy entrepreneurs in space that I got to
entrepreneurs in space that I got to
entrepreneurs in space that I got to witness over the last 20 years on the
witness over the last 20 years on the
witness over the last 20 years on the internet you know that the problem with
internet you know that the problem with
internet you know that the problem with being an entrepreneur and the space
being an entrepreneur and the space
being an entrepreneur and the space arena is that the price of admission is
arena is that the price of admission is
arena is that the price of admission is so darn high so it you know to do
so darn high so it you know to do
so darn high so it you know to do interesting things in space the
interesting things in space the
interesting things in space the beginning you know kind of the beginning
beginning you know kind of the beginning
beginning you know kind of the beginning entry level is a few hundred million
entry level is a few hundred million
entry level is a few hundred million dollars so you’re not going to get you
dollars so you’re not going to get you
dollars so you’re not going to get you know two kids in their dorm room doing
know two kids in their dorm room doing
know two kids in their dorm room doing something amazing in space whereas
something amazing in space whereas
something amazing in space whereas that’s literally what happened to
that’s literally what happened to
that’s literally what happened to Facebook right so on the internet
Facebook right so on the internet
Facebook right so on the internet because the price of admission is so low
because the price of admission is so low
because the price of admission is so low you can get these amazing experiments
you can get these amazing experiments
you can get these amazing experiments where like one kid in the dorm room does
where like one kid in the dorm room does
where like one kid in the dorm room does something and it turns into Facebook and
something and it turns into Facebook and
something and it turns into Facebook and or you know Amazon’s case you know I
or you know Amazon’s case you know I
or you know Amazon’s case you know I started this thing with an incredibly
started this thing with an incredibly
started this thing with an incredibly small amount of capital and the you know
small amount of capital and the you know
small amount of capital and the you know it was able to grow because we didn’t
it was able to grow because we didn’t
it was able to grow because we didn’t need a lot to get to begin with the
need a lot to get to begin with the
need a lot to get to begin with the heavy lifting was in place
heavy lifting was in place
heavy lifting was in place Ramazan right so I didn’t need to build
Ramazan right so I didn’t need to build
Ramazan right so I didn’t need to build a transportation network it existed
a transportation network it existed
a transportation network it existed already it was ups and the Royal Mail
already it was ups and the Royal Mail
already it was ups and the Royal Mail and the US Postal Service and Deutsche
and the US Postal Service and Deutsche
and the US Postal Service and Deutsche Post and so on and so on I didn’t have
Post and so on and so on I didn’t have
Post and so on and so on I didn’t have to build a telecommunications backbone
to build a telecommunications backbone
to build a telecommunications backbone to connect with my customers it was
to connect with my customers it was
to connect with my customers it was there it was called the Internet and in
there it was called the Internet and in
there it was called the Internet and in fact the internet was resting on top of
fact the internet was resting on top of
fact the internet was resting on top of the long-distance phone network at that
the long-distance phone network at that
the long-distance phone network at that time you guys remember the dial-up
time you guys remember the dial-up
time you guys remember the dial-up modems some of you do some of you were
modems some of you do some of you were
modems some of you do some of you were too young to you some of you should go
too young to you some of you should go
too young to you some of you should go to a museum and see a dial-up modem was
to a museum and see a dial-up modem was
to a museum and see a dial-up modem was that then yeah and so my one I I
that then yeah and so my one I I
that then yeah and so my one I I recently showed a group of youngsters a
recently showed a group of youngsters a
recently showed a group of youngsters a payphone I came across one and I was
payphone I came across one and I was
payphone I came across one and I was like my god guys come over here
like my god guys come over here
like my god guys come over here this may be the last one you have to see
this may be the last one you have to see
this may be the last one you have to see it and so you know the point is that
it and so you know the point is that
it and so you know the point is that Amazon was got to rest on top of we
Amazon was got to rest on top of we
Amazon was got to rest on top of we didn’t have to build a payment system it
didn’t have to build a payment system it
didn’t have to build a payment system it already existed was called the credit
already existed was called the credit
already existed was called the credit card computers were already on every
card computers were already on every
card computers were already on every desk thanks to you know Microsoft IBM
desk thanks to you know Microsoft IBM
desk thanks to you know Microsoft IBM and Apple and what were they being is
and Apple and what were they being is
and Apple and what were they being is for to play games not to buy things on
for to play games not to buy things on
for to play games not to buy things on Amazon and so all that heavy lifting was
Amazon and so all that heavy lifting was
Amazon and so all that heavy lifting was in place and I want to you know my
in place and I want to you know my
in place and I want to you know my greatest I would have such a good
greatest I would have such a good
greatest I would have such a good feeling if I could be an 80 year old guy
feeling if I could be an 80 year old guy
feeling if I could be an 80 year old guy and laying there thinking about my life
and laying there thinking about my life
and laying there thinking about my life if I could said look there is now a
if I could said look there is now a
if I could said look there is now a bunch of entrepreneurs in space because
bunch of entrepreneurs in space because
bunch of entrepreneurs in space because I took my amazon lottery winnings and
I took my amazon lottery winnings and
I took my amazon lottery winnings and built the heavy lifting infrastructure
built the heavy lifting infrastructure
built the heavy lifting infrastructure that does take billions of dollars in
that does take billions of dollars in
that does take billions of dollars in capex to lower the cost of access to
capex to lower the cost of access to
capex to lower the cost of access to space that’s how you get millions of
space that’s how you get millions of
space that’s how you get millions of people living in Oregon State and by the
people living in Oregon State and by the
people living in Oregon State and by the way we need that for those of you who
way we need that for those of you who
way we need that for those of you who like to think about the future at all
like to think about the future at all
like to think about the future at all you can do a simple calculation you know
you can do a simple calculation you know
you can do a simple calculation you know we can argue about you know what limited
we can argue about you know what limited
we can argue about you know what limited resources on earth and so on and so on
resources on earth and so on and so on
resources on earth and so on and so on but here’s the calculation that you
but here’s the calculation that you
but here’s the calculation that you cannot argue with which is you take
cannot argue with which is you take
cannot argue with which is you take current baseline energy usage on earth
current baseline energy usage on earth
current baseline energy usage on earth compound it it’s just a few percent a
compound it it’s just a few percent a
compound it it’s just a few percent a year for just a few hundred years and
year for just a few hundred years and
year for just a few hundred years and you have to cover the entire surface of
you have to cover the entire surface of
you have to cover the entire surface of the earth and solar cells so you have to
the earth and solar cells so you have to
the earth and solar cells so you have to we’re going to have to decide do we want
we’re going to have to decide do we want
we’re going to have to decide do we want a society
a society
a society of pioneering invention expansion growth
of pioneering invention expansion growth
of pioneering invention expansion growth or do we want a society of stasis and
or do we want a society of stasis and
or do we want a society of stasis and personally I look because the earth is
personally I look because the earth is
personally I look because the earth is finite and if you want a society of
finite and if you want a society of
finite and if you want a society of stasis I think it’s good first of all I
stasis I think it’s good first of all I
stasis I think it’s good first of all I don’t personally believe that stasis is
don’t personally believe that stasis is
don’t personally believe that stasis is even compatible with freedom so I think
even compatible with freedom so I think
even compatible with freedom so I think for me that’s a big problem
for me that’s a big problem
for me that’s a big problem second of all it’s going to be dull
second of all it’s going to be dull
second of all it’s going to be dull stasis is going to be very dull you
stasis is going to be very dull you
stasis is going to be very dull you don’t want to live in the stasis world
don’t want to live in the stasis world
don’t want to live in the stasis world and so of course we’re going to continue
and so of course we’re going to continue
and so of course we’re going to continue get more efficient too we have been for
get more efficient too we have been for
get more efficient too we have been for hundreds of years we’ve been getting
hundreds of years we’ve been getting
hundreds of years we’ve been getting more productive more efficient
more productive more efficient
more productive more efficient that’s that trend is going to continue
that’s that trend is going to continue
that’s that trend is going to continue but even so we’re going to want to use
but even so we’re going to want to use
but even so we’re going to want to use more energy more energy per capita and
more energy more energy per capita and
more energy more energy per capita and also I don’t want to stabilize
also I don’t want to stabilize
also I don’t want to stabilize population I would love for the Viet
population I would love for the Viet
population I would love for the Viet Trillian humans in the source system
Trillian humans in the source system
Trillian humans in the source system with a trillion humans we would have a
with a trillion humans we would have a
with a trillion humans we would have a thousand Einsteins and a thousand
thousand Einsteins and a thousand
thousand Einsteins and a thousand Mozart’s it’d be an incredible sizzle
Mozart’s it’d be an incredible sizzle
Mozart’s it’d be an incredible sizzle don’t you want that dynamism it’d be so
don’t you want that dynamism it’d be so
don’t you want that dynamism it’d be so much merging my this is for your
much merging my this is for your
much merging my this is for your great-great-great grandchildren but what
great-great-great grandchildren but what
great-great-great grandchildren but what kind of world you want them to live in I
kind of world you want them to live in I
kind of world you want them to live in I want them to live in that expansive
want them to live in that expansive
want them to live in that expansive world that is you know learning more
world that is you know learning more
world that is you know learning more about the universe and moving out
about the universe and moving out
about the universe and moving out throughout the solar system so that we
throughout the solar system so that we
throughout the solar system so that we have to do it and anyway so it’s fun to
have to do it and anyway so it’s fun to
have to do it and anyway so it’s fun to work on that and you know I get I have a
work on that and you know I get I have a
work on that and you know I get I have a I want so many lotteries in my life I
I want so many lotteries in my life I
I want so many lotteries in my life I have the best parents in the world
have the best parents in the world
have the best parents in the world my mom Jackie and my dad Mike my mom had
my mom Jackie and my dad Mike my mom had
my mom Jackie and my dad Mike my mom had me when she was 17 in Albuquerque New
me when she was 17 in Albuquerque New
me when she was 17 in Albuquerque New Mexico she was still in high school it
Mexico she was still in high school it
Mexico she was still in high school it was not cool and she did an amazing job
was not cool and she did an amazing job
was not cool and she did an amazing job my dad Mike is a Cuban immigrant who
my dad Mike is a Cuban immigrant who
my dad Mike is a Cuban immigrant who came here when he was 16 without his
came here when he was 16 without his
came here when he was 16 without his parents did an amazing job so those are
parents did an amazing job so those are
parents did an amazing job so those are the things that are your little gifts in
the things that are your little gifts in
the things that are your little gifts in life you get sometimes you get my
life you get sometimes you get my
life you get sometimes you get my greatest admiration by the way is
greatest admiration by the way is
greatest admiration by the way is withheld for those people and I know
withheld for those people and I know
withheld for those people and I know several of them who had terrible parents
several of them who had terrible parents
several of them who had terrible parents and still somehow made it through that’s
and still somehow made it through that’s
and still somehow made it through that’s hard now I had the opposite so I got
hard now I had the opposite so I got
hard now I had the opposite so I got lucky
lucky
lucky [Applause]
”
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