The Shareholder Letters From Jeff Bezos and Joy Covey

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Jeff Bezos' first letter to shareholders was published in 1997. The quote is from Joy Covey and Jeff is so incredibly prescient that he really is focused on the absolute dollars of free cash flow metric. I think there's this misconception that people have about Amazon that they're sort of trading off growth for margin percentage. And I don't think that's ever actually what was happening. People often look at startups today and they're like profitability or growth. In the long run, we care about free cash flow in the long run.

Amazon. No company has impacted the internet — and all of modern life — more than this one. We’ve waited seven years to do this episode, and are so, so excited to finally dive into every nook and cranny of this legendary company. And of course because we’re Acquired and this is Amazon, we couldn’t contain it all to just one episode… even a 4+ hour one! So today we focus on Amazon.com the retail business, and we’ll have another full episode on AWS coming soon. And because all great series are trilogies, to fully understand Amazon we highly recommend starting first with our previous episode on Walmart, which truly is the giant’s shoulder that Jeff Bezos stood upon. Let’s go!!

**Big News** We've got merch! Check it out at https://www.acquired.fm/store !

If you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!).

Sponsors:
Statsig: https://bit.ly/acquiredstatsig24
Vanta: https://bit.ly/acquiredvanta
Crusoe: https://bit.ly/acquiredcrusoe

Links:

Carve Outs:

‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.