Stay Connected As We Transition

Hey All,

Fact of the Day 1 is moving to Substack to enable readers to subscribe with their email. I will no longer be publishing on Medium, so please go to factoftheday1.substack.com.

It takes just a second to ensure facts always get to you! Thanks for reading the facts I write.

-danny

Image for post
Image for post
“Thanks for being a reader of Fact of the Day 1! “ — Danny (the human) and Markley (the dog)

Image for post
Image for post

Source: Internet Association
Published: May 2017

Amazon’s Early Investors

Amazon started as a very small company. I was driving all of the packages to the post office myself in my 1987 Chevy Blazer.

When I raised money for Amazon, I had to raise $1 million. Investors each put in $50k and [collectively] received 20% of the company.

40 people told me no. The first question was always, “what is the internet?” so I had to start by walking through that; this was early 1995.

- Jeff Bezos


Image for post
Image for post

Source: Rob Phee
Published: August 2012

Amazon’s Virtuous Cycle

If you’re growing the company, the side benefit is that you build a lower cost structure. As we get bigger, we leverage our buys, our fulfillment infrastructure, and our website, which lowers the cost per unit of everything that we do.

We then have two choices: pay the cash out as a dividend or lower prices for customers. We choose to lower prices, which completes another cycle of great customer experiences.

We look for virtuous cycles that are complete, close looped, and that as you inject energy into each piece of them, the flywheel spins faster and faster.

-Jeff Wilke, CEO of Amazon’s worldwide consumer business

About

Entrepreneur & technology enthusiast. Opinions are my own. LinkedIn.com/in/sheridandanny

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store