Jeff Bezos, who has been the CEO of Amazon since the company’s inception on July 5, 1994, exactly 27 years ago has officially stepped down from the position.
We’ve all heard the story of Jeff Bezos quitting his job to launch Amazon.com in his garage in 1994. Bezos had a Wall Street job at hedge fund D. E. Shaw when he was 30 years old, but he saw promise in the future of the internet economy and got the idea to build an online bookstore. Bezos’ boss agreed that the idea had potential, but he tried to persuade Bezos that it would be less risky to keep his current job.
Amazon launched as an online bookseller in 1994. However, it did not begin with books. It all began with books and a long-term vision. Today, online shopping is a clear alternative to traditional shopping. However, few individuals had heard of the internet in the early 1990s. His concept was to deliver value via the internet. Books were only the beginning.
In 1997, Amazon went public. Jeff Bezos would capture the essence of everything that had come before in his first letter to shareholders, concluding with the simple statement, “It’s all about the long term.”
“When you think about the things that you will regret when you’re 80, they’re almost always the things that you did not do. They’re acts of omission. Very rarely are you going to regret something that you did that failed and didn’t work or whatever.”Jeff Bezos
That philosophy influenced Bezos’ life long before he founded Amazon. He said,
“If it failed, I would be very proud when I was 80 that I tried.“
“I’m not just talking about business things,” he said. “It’s like, ‘I love that person and I never told them,’ and you know, 50 years later you’re like, ‘Why didn’t I tell her? Why didn’t I go after it?’
“So that’s the kind of life regret that is very hard to be happy about when you’re telling yourself, in a private moment, that story of your life.”
Bezos believes that making “high-quality, high-velocity decisions” seems to be the key to keeping an innovative business. “All of my best decisions in business and in life have been made with heart, intuition, guts — not with analysis,” Bezos stated this in a 2018 interview at the Economic Club of Washington, D.C.
It is never easy to leave a well-paying job. However, with a unique insight, a little risk-taking, and trusting your instincts, you could just take over the world. Pay attention to your feelings; they’re trying to tell you something.