Top Highlights

• Amazon realized early on that if you don’t change the underlying condition that created a problem, you should expect the problem to recur.
• In the 2016 shareholder letter, even though he wasn’t explicitly talking about two-pizza teams, Jeff suggested that “most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you’re probably being slow. Plus, either way, you need to be good at quickly recognizing and co...
• way: “Our culture is four things: customer obsession instead of competitor obsession; willingness to think long term, with a longer investment horizon than most of our peers; eagerness to invent, which of course goes hand in hand with failure; and then, finally, taking professional pride in operational excellence.”
• Another of Jeff’s frequent exhortations to his small staff was that Amazon should always underpromise and overdeliver, to ensure that customer expectations were exceeded.
• In the 2015 shareholder letter, Jeff wrote, “You can write down your corporate culture, but when you do so, you’re discovering it, uncovering it—not creating it.”