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Amazon's Growth Strategy and Resilience during Market Volatility
This chapter delves into Jeff Bezos' letters to shareholders in 1998 and 1999, showcasing Amazon's ambition to be the Earth's most customer-centered company, focus on profitability, and global expansion plans. It discusses Amazon's endurance during the dot com bubble crash, highlighting their focus on customer satisfaction, fixed costs, and long-term free cash flow generation. The chapter also explores Amazon's pricing strategy to sell at scale, build customer trust, and prioritize long-term customer loyalty over short-term gains.