Jeff Bezos’ Annual Letter To Shareholders Touched On The Company’s Future But Much More On Amazon’s Vision And Philosophy
Many innovators believe that the customers don’t know what they want until they see it! Jeff Bezos, Amazon’s founder, talked about multiple subjects, such as the company’s future, its AWS cloud offering, the support Amazon provides to small business and more in his annual letter to the shareholders.
But he also talked about the fact that failure at the company needs to scale, to reflect its big ambitions—and because failure can lead to success in other areas.
While Fire phone was being re-developed after numerous poor reviews, all that they learned with Fire was implemented in the Echo range of smart speakers, resulting in its success.
Being an e-retailer and the manufacturer of e-readers, Echo was not even in the plans at that time. The market research also was not helpful. However, the launch of Echo with built-in Alexa took over the market and became a huge hit and over time, Amazon even developed an ecosystem around Alexa. While there are issues like privacy with this, there is no denying that the Echo has been a tremendous success.
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