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December 21, 2011

Amazon: “It’s all about the long term.”

If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people.
But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that. Just by lengthening the time horizon, you can engage in endeavors that you could never otherwise pursue. At Amazon we like things to work in five to seven years. We’re willing to plant seeds, let them grow—and we’re very stubborn. We say we’re stubborn on vision and flexible on details. -- Jeff Bezos Owns the Web in More Ways Than You Think | Magazine

Posted by gerardvanderleun at December 21, 2011 3:56 PM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

This is the ultimate meaning of Capitalism. Capital enables longer and more efficient production cycles to be used. It's not a desperate struggle to get something - anything - out the door so we can eat tonight. Planning, designing, tooling is all possible only with capital.

The people in Haiti engage in free markets every day, but as soon as anyone there accumulates a bit of capital the vultures swoop down and scoop it up. So they get some gains of trade, but can't develop any further.

Posted by: Brett_McS at December 21, 2011 10:39 PM

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