We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and thy’re the reason we’re successful: Put the customer first. Invent. And be patient.
Percentage margins don’t matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.
If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.
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