“After October 2, 2017, third party sellers in the Marketplace are required to offer hassle-free returns.”
“Where others ask, Amazon knows. Where others guess, Amazon has data. Where others survey their users, Amazon checks their shopping carts. In a world where people lie, this info is priceless.”
“Now, Bezos has said over a thousand people are working on artificial intelligence (AI) projects just related to Echo and Alexa.”
“It’s about satisfying a very different need. It’s about browsing. It’s about discovery… there are many discovery methods online… Tons of serendipity… Wandering around is a unique opportunity for serendipity.”
“The stores are, of course, differentiated in meaningful ways. For one, they don’t accept cash. Customers pay with a credit card or, of course, charge it to their Amazon Prime account.
It turns out people have a seemingly endless supply of needs and wants. Amazon’s R&D programs are attempting to understand and satisfy all of them.”
“Contemplating this, you may start think artisanal-level customization is the only alternative. Amazon’s okay with that. But sell it through Amazon Handmade rather than Etsy”
“All of this analysis will mean nothing if you do nothing with it. Being relentless is critical. If you ever need inspiration on this point, just enter Relentless.com into your browser (spoiler: it redirects to Amazon). Amazon invests in R&D, and so should you. Amazon is constantly evaluating areas for improvement, and so should you. Amazon always considers it Day One, and so should you.”
Incredible collection of Jeff Bezos quotes –
There are two ways to build a successful company. One is to work very, very hard to convince customers to pay high margins. The other is to work very, very hard to be able to afford to offer customers low margins. They both work. We’re firmly in the second camp. It’s difficult—you have to eliminate defects and be very efficient. But it’s also a point of view. We’d rather have a very large customer base and low margins than a smaller customer base and higher margins.
“Invention is not disruptive. Only customer adoption is disruptive.”