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Acquired

Amazon.com

Aug 16, 2022
0
04:16:36

Podcast summary created with Snipd AI

Quick takeaways

  • Jeff Bezos's decision to leave his job and pursue his entrepreneurial instincts led to the creation of Amazon.com and revolutionized the e-commerce industry.
  • Seattle was chosen as the ideal location for Amazon.com due to its proximity to major book distributors, lack of state income tax, and access to technical talent.

Deep dives

The Birth of Amazon

Jeff Bezos, a senior vice president at D.E. Shaw, decides to leave and pursue his own entrepreneurial venture. He comes up with the idea for an online retail store called the Everything Store, which would revolutionize the way customers buy and manufacturers sell. Bezos chooses books as the ideal category to start with due to their perfect commodity nature and the lack of a dominant player in the market. He raises $1 million in funding over a year and incorporates the company in Seattle, attracted by the proximity to printer suppliers and Washington state's tax advantages. The talent pool from Microsoft also makes Seattle an appealing choice.

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