From Business Insider’s recap of Amazon’s IPO letter back in 1997:
We will continue to make investment decisions in light of long-term market leadership considerations rather than short-term profitability considerations or short-term Wall Street reactions.
We will make bold rather than timid investment decisions where we see a sufficient probability of gaining market leadership advantages. Some of these investments will pay off, others will not, and we will have learned another valuable lesson in either case.
Jeff Bezos has shown great vision and great courage. It’s inspiring to watch.
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