2003 – Long-Term Success

In this shorter-than-others letter, Jeff talks about the long-term, especially when it comes to the customer experience. From vendor blowback on product reviews to a gentle reminder that you already bought something, he outlines how doing the best thing for customer (and shareholders alike) works out better in the long-term. He then again highlights the importance of fixed costs and growing the volume of sales. Jeff also is now committed to “always” attaching the 1997 letter, using definitive language this time.

“Our pricing strategy does not attempt to maximize margin percentages, but instead seeks to drive maximum value for customers and thereby create a much larger bottom line—in the long term.” — Jeff Bezos