Years after he founded Amazon as an online bookstore back in 1994, launching the company out of the garage of his rented home in the Seattle suburbs, Amazon today has become one of the most powerful, well-known companies in the world covering not just books, but also e-commerce, cloud computing, grocery, advertising and many more. Here's what we all can learn from his letters to the shareholders when it comes to business and leadership.

1. HowDidJeffBezosTakeAmazon
FromZeroTo$1TrillionIn23Years?
He documented his journey in his annual shareholder letters.
Source: @theantonioreza

2. 14 lessons that will teach you
more about business and
entrepreneurship than any MBA
Source: @theantonioreza

3. Applythe"regretminimisation
framework"
On our deathbed, we'll regret of not doing things.
Bezos knew that staying at his hedge fund and not
being part of the internet would have killed him. He
used this as his compass.
Source: @theantonioreza

4. Prioritiselong-termmarketleadership
Being the market leader at anything takes a long time.
Using this principle for decision-making will translate
into higher revenues, bigger profits and greater returns
on capital. He did this to set the tone of his business.
Source: @theantonioreza

5. Beboldratherthantimidinyour
investments
Investing in high-risk, high-return opportunities will
increase market leadership or teach us an important
lesson if it fails. Kindle was not welcome but it
reinvented the book. He did this to up his chances of
success.
Source: @theantonioreza

6. Freecashflowisthebestindicatorof
stockprice
Shares are worth the present value of future cash flows,
not earnings. Amazon operated at a loss for years. But
cash flow was positive soon after IPO. Since then, the
stock is up 165,000%. He used this to guide investors
Source: @theantonioreza

7. Createacost-consciousculture
Once a company reaches a certain size, its cost
structure can become inefficient. Bezos created a
culture of operational excellence that sought to reduce
costs at all times—economies of scale. He did this to
increase productivity and profits.
Source: @theantonioreza

8. Instillanowner'smindsetwithequity
Bezos believed employees had to think and feel like
owners. It is why he preferred to offer more stock
options than cash. He'd declare the shares would be
worth millions someday. He did this to attract talent.
Source: @theantonioreza

9. Workhard,smart,andlong
Building something that will stand the test of time takes
blood, sweat, and tears. It was not for the faint of heart.
He did this to build something special.
Source: @theantonioreza

10. Becomeobsessedwiththecustomer
Amazon is into customers and Bezos's true north star
was to create the ultimate customer experience. He
believed what was good for customers was good for
shareholders. He did this to maximise shareholder value.
Source: @theantonioreza

11. Hiretherightpeoplethatwillraisethe
barofthecompany
Bezos considered 3 things before hiring. One, will you
admire this person? Two, will this person raise the
effectiveness of the group? And three, in what dimension
is this person a superstar? He used this guide to elevate
the talent in Amazon.
Source: @theantonioreza

12. Buildpartnershipstocreatescale
Bezos wanted Amazon to be everywhere. He
developed partnerships with companies to increase
product selection for customers. From Toys "R" Us to
Target. This contributes billions in revenue every year.
Source: @theantonioreza

13. Stayfocusedduringamarketcrash
In 2000, Amazon lost 80% of its market cap. Dot-com
bubble. In 2008, Amazon lost 30% of its market cap.
Sub-prime mortgage crisis. In 2021, Amazon hits
trillion-dollar valuation. His focus paid off.
Source: @theantonioreza

14. Acquirenewcompetenciestostay
relevant
Bezos believed in "working backwards" from customer
needs. This demanded the development of new skills
to innovate. This is how AWS, Prime, and Marketplace
came to life. He did this to stay market-relevant
Source: @theantonioreza

15. Investintechinfrastructure
Bezos believed technology would advance
exponentially to create opportunities. Amazon uses
machine learning to predict anything from the fastest
delivery route to customer preferences. This is how he
created competitive advantages.
Source: @theantonioreza

16. It'salwaysDayOne
Bezos said in every single letter that it was always Day
One. Day One is full of excitement, energy, and
innovation. Day Two is full of stasis and death. Day
One is the embodiment of entrepreneurship. He
embrace change through this belief.
Source: @theantonioreza