How Jeff Bezos views the concept of friendship
It’s a waste of time to waste it hanging around with individuals who aren’t resourceful since life is too short.
The core tenet of scientific inquiry is known as the rule of causality, and it may be summed up as follows: consequences are always produced by causes that are similar to themselves. It is thus not surprising that Bill Gates enjoys playing bridge with his friend Warren Buffett, and it is also not surprising that Bezos enjoys attending parties with his friend Barry Diller.
It was a famous prediction made by Diller, Chairman of IAC, who said that “Jeff Bezos would be the wealthiest person in the world in five to seven years.” That should do wonders for your confidence!
It would seem that Bezos appreciated the chance to rub shoulders with the media executive who was responsible for “The Killer Dillers.” “The Killer Dillers” is a star-studded list of persons who were taught by Diller and went on to become enormously successful media executives.
Because experience is a demanding instructor who assigns examinations before providing study aids, conventional wisdom implies that a person will grow more resourceful as they age. Diller’s age puts him in the running to be Bezos’ father. It’s possible that Bezos subscribes to the philosophy that Mike Tyson’s illustrious trainer, Cus D’Amato, advocated in the past:
There are not many, if any, new things that can be found on our planet. Because of this, young people should, if they are wise, strive to benefit from the experience of an older person so that they won’t have to go through all of the anguish and suffering that they otherwise would have to go through.
The first piece of actionable advice I have for aspiring business owners is this: What could possibly be wiser than being told a snake is dangerous without having to test it for yourself? Therefore, Bezos makes a concentrated effort to surround himself with people who have more experience and maturity than he does. Hanging around with people who are smarter than you might be good for your ego, but it can also be good for your intelligence to hang out with people who are smarter than you.
To summarize, if you want to think like Jeff Bezos, all you need to do is, as he puts it, “Surround yourself with people who challenge you, educate you, and push you to be your best.”
How Jeff Bezos approaches his interests and his goals in life
“You don’t select your interests; your passions choose you.”
It was the year 1994, and Jeff Bezos was working at D.E. Shaw & Co., an investment banking business located on Wall Street, where he held the prestigious position of senior vice president. As luck would have it, Bezos stumbled upon a paper that predicted a surge in internet activity in the near future.
Bezos reflects on his life and says, “I don’t want to be 80 years old and in a quiet time of contemplation, going back over my life and listing a lot of huge regrets.”
Bezos resigned from his job unexpectedly, packed his belongings, and went across the nation to open up shop as an internet bookseller, of all things. Not only did his family and friends think he was crazy, but also — I would guess — his parents weren’t too delighted with the fact that they had to loan him a quarter of a million dollars. His family and friends thought he was mad.
In a nutshell, Bezos didn’t choose his passion; rather, his passion picked him! Therefore, he issued a warning:
One of the most significant errors that individuals make is that they attempt to impose an interest on themselves against their will. You don’t select your hobbies; your passions choose you.
The second piece of useful information for aspiring business owners is that while “all the world’s a stage,” there are already an excessive number of lead singers who play the drums and drummers who sing on the planetary platform. Why? to ensure that there is food on the table! Instead of “just pursuing their own hobbies,” far too many aspiring business owners have their eyes set on replicating the success of the Big Four.
Discover whatever aspect of business you excel in, and you’ll have a better idea of which aspect of business you should be focusing on. This can only help you make sound judgments for your company. If you are chasing after money, you will never catch it; but, if you are chasing after your passion, the money will be chasing after you.
How Bezos manages to stay content despite always being in an awkward position
“In order to be successful as an entrepreneur, you need to be ready to be misunderstood for extended periods of time.”
People have been saying for a very long time that the line between genius and madness is really very thin. Because of this, there is only one thing that differentiates a “genius” from a crazy, and that one thing is a word called “success.”
Bezos said that he had a difficult time getting his nascent start-up off the ground for a number of years. Bezos had to endure being “misunderstood for long periods of time” due to a variety of factors, including the ridicule he received from friends and family for leaving a job that offered stability and a good salary, as well as the ridicule he received for the apparent absurdity of gambling everything on an online bookstore.
It’s not a coincidence that no one has ever achieved greatness via sheer luck alone! Because of this, the idea that success leaves hints has been around for a very long time. Bezos, who is known as the “Michael Jordan of Business,” reiterated these comments, saying, “Just as Michael Jordan said that failing over and over again was the key that finally unlocked success for me, I believe the same thing.”
Everything has to scale up as a business expands, and this includes the magnitude of the unsuccessful experiments that you do. You won’t be created at a scale that can truly move the needle if the number of your mistakes doesn’t increase, which means you won’t be able to learn from them.
The third key takeaway for business owners is this: while success leaves clues, one does not have to be Sherlock Holmes in order to deduce what the underlying theme is. Jobs, Zuckerberg, and Page all dropped out of college, which was originally seen as a failure on their part. Bezos quit his successful job, which was seen as a failure, to follow his dream of becoming an entrepreneur, which was also seen as a failure at first.
According to Kierkegaard, “life must be lived forwards in order to be understood backward,” yet life can only be understood backward. Because of this, when each “setback” is evaluated through the refined lens of hindsight, it reveals itself to have taken us down a route that at first looked to be worse, but eventually led to a destination that was even better. In a nutshell, it is abundantly clear that Bezos delights in the fact that he is misunderstood, believing that the goal justifies whatever measures are necessary to achieve it.
The mental make-up of Amazon founder and CEO Jeff BezosEntrepreneurially speaking, Jeff Bezos is akin to Babe Ruth.
“The first step in gaining knowledge is being familiar with its terminology.” It was Socrates.
After using the Socratic method, it becomes clear that the word “entrepreneur” refers to “anyone who runs a business and willingly takes big financial risks in order to make a lot of money.”
According to a popular proverb, “the bigger the risk, the greater the gain.” Bezos is a model of what it means to be a genuine entrepreneur because of this reason. This is the most important piece of information for understanding how Jeff Bezos thinks, not what he believes. And at its core, his way of thinking may be summed up as follows: if you are not prepared to put everything on the line to pursue your own entrepreneurial goal, then who else will?
Bezos describes his “regret minimization strategy” in the interview that was done by the Academy of Achievement and may be accessed by clicking enter + watch. As for how Bezos approaches this default framework, he makes the following observations regarding it:
I wanted to see myself at the age of 80, reflecting on my life and saying, “OK, here we are.” I want to limit the number of things in my life that I come to regret.
And I knew that even when I was 80 years old, I would not be sorry that I had gone through with this. It was not going to be anything that I was going to come to regret attempting to take part in this phenomenon known as the Internet, which I believed was going to be a very significant deal. I was certain that even if I were to fail, I wouldn’t be sorry about it.
“But I was aware that the one thing I may possibly come to regret is that I never even attempted it. I was well aware that thinking about it would torment me each and every day.
To get a complete understanding of Bezos’s way of thinking, one must realize that, at his heart, he is an entrepreneur who is prepared to stake everything on his vision of what would be the most lucrative next step.
According to a claim that was written by Eugene Kim for Business Insider, Bezos “says nine times out of 10, you’re going to fail.” On the other hand, every once in a while, you’ll hit a home run that, in terms of business, is more comparable to a thousand runs. Bezos advises, “Given a ten percent chance of a 100 times payoff, you should take that bet every time,” and “given a ten percent chance of a 100 times payoff,”
It is very clear that the reason Bezos towers over all of his opponents is for the exact same reason that Babe Ruth once towered over the plate. Ruth was not one of the baseball players who followed the approach advocated by Ty Cobb, which consisted of just swinging for base hits. When Ruth was swinging for the fences, she would say, “Never allow the fear of striking out get in your way,” and she would mean it.
To summarize, Jeff Bezos is sometimes referred to as the “Babe Ruth of entrepreneurs.” After everything is said and done, it is abundantly clear that the way Bezos thinks about business is logically analogous to the way Ruth thought about baseball.