2006 – New Business Ideas

Jeff talks all about new business ideas: one not ventured into (at the time) and retail. He discusses acquiring, Joyo.com, in China, one retail play, Fulfillment by Amazon, and one idea that would change Amazon forever, AWS. Jeff then talks about how growth is still celebrated, even though it might have a smaller impact to Amazon overall.

“Before we invest our shareholders’ money in a new business, we must convince ourselves that the new opportunity can generate the returns on capital our investors expected when they invested in Amazon. And we must convince ourselves that the new business can grow to a scale where it can be significant in the context of our overall company.” — Jeff Bezos