Amazon.com, Inc. (AMZN) CEO, Jeff Bezos On Life And Corporate Success
Jeff Bezos, appearing on a rare interview with Henry Blodget gave a rare insight on his life behind the desk at Amazon as well as being a father figure to four kids and what it takes to be successful in the corporate world. Amazon.com, Inc. (NASDAQ:AMZN) has been on a rampage over the years investing in a number of entities some of which have become hits and some of which Bezos believes have resulted in billions of dollars in losses.
The Need for Family
Raised from a humble beginning the Amazon.com, Inc. (NASDAQ:AMZN) chief has grown to become one of the wealthiest persons in the world with a net worth of around $28 Billion. As soon as he was born his mother and biological father parted ways and was consequently raised by a step dad. He is quick to point out that the best part of growing up was being too close to his grandfather in the middle of nowhere in a ranch in Texas. One of the things he is always grateful of is sharing his early life with his grandfather from whom he learned the art of self-reliance.
Bezos is also quick to point out that his parents remain his greatest role models having won a number of lotteries while growing up. Bezos just like his other colleagues Elon Musk and Richard Branson, share undivided passion to one-day spearhead rockets into the moon passions they all believe are inborn.
His love for technology is what is driving him in his push to have more than one million living and working in space through his rocket company that plans to make a landing in the space in the near future.
Bezos affirms that a heavy price is always to be incurred for any entity or company looking to pursue success through experiments. Amazon Chief was also quick to point out that companies that don’t embrace failure will most of the time get into a desperate position where the only thing they can do is a Hail Mary bet when their existence is threatened
A point of debate for Amazon.com, Inc. (NASDAQ:AMZN)’s product line has always been the fire phone which according to the industry standards has been an underperformer. Bezos was quick to defend the company’s hardware team reiterating that it has done a great job considering the Kindle is on its seventh generation and reiterating the phone has no defects.
Focus On Low Turnover Investors
Amazon.com, Inc. (NASDAQ:AMZN) has been pounded over the years for not doing enough to generate shareholder value. Focusing on pursuing other growth areas has affected company’s profit margins. Bezos stated that the company only pays attention to investors with low portfolio turnover as they are long-term investors as opposed to investment funds with high portfolio turnover.
Amazon.com, Inc. (NASDAQ:AMZN) can at times be a boring place to work for now employees according to Bezos as the company has an enriched, integrated culture that does not focus on competition but the entire planning process for the future.
A succession plan is already underway that will give rise to another CEO in the near future as well as the entire management team according to Bezos. Married with four kids Bezos states that he loves to do dishes after dinner and rarely gives speeches about the company as he likes to spend more time with the family and doing constructive wok at the office.
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