#71 Jeff Bezos' Shareholder Letters
Founders
00:00
Importance of customer-centric innovation and scaling failure for invention
Innovation is about inventing on behalf of customers, tapping into one's inner imagination about what's possible, and identifying customer needs that they may not even know they have. Amazon's success with AWS demonstrates that the biggest needle movers are often things that customers don't know to ask for. Additionally, failure needs to scale too, as the size of failures must grow along with the company in order to invent at a scale that can move the needle. Amazon believes in experimenting at the right scale, even if it means occasionally having multi-billion dollar failures.
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