Total value created to date:
- Hired 500,000 employees (now directly employ 1.3m globally)
- Have 200m Prime members worldwide
- 1.9m SMEs selling in Amazon store (c. 60% of total sales)
- 100m smart home devices connected to Alexa
- AWS at $50b annualized run rate
- Have created $1.6t wealth for shareholders ($1.4t i.e. 7/8ths outside Amazon)
Value created in 2020:
Core arguments for value creation:
- Shareholders: net income
- Employees: competitive wages and benefits
- 3rd Party Sellers: profits
- Customers — Consumers: 75 hours/year * $10/hr - Prime subscription cost * 200m Primer customers = $126b
- Customers — AWS: direct cost savings (30%) + increased speed of software development = $38b
We all know that distinctiveness – originality – is valuable. We are all taught to “be yourself.” What I’m really asking you to do is to embrace and be realistic about how much energy it takes to maintain that distinctiveness. The world wants you to be typical – in a thousand ways, it pulls at you. Don’t let it happen.
You have to pay a price for your distinctiveness, and it’s worth it. The fairy tale version of “be yourself” is that all the pain stops as soon as you allow your distinctiveness to shine. That version is misleading. Being yourself is worth it, but don’t expect it to be easy or free. You’ll have to put energy into it continuously.
The world will always try to make Amazon more typical – to bring us into equilibrium with our environment. It will take continuous effort, but we can and must be better than that.
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To all of you: be kind, be original, create more than you consume, and never, never, never let the universe smooth you into your surroundings. It remains Day 1.