71–80 of 297 posts
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This seems like a huge distinction that people don't make often enough with high-performing, fast-growing companies. You see it with Tesla, too, when people claim that the Model S is "sold at a loss", ignoring the fact that a large part of the company's current expenditure is in setting up huge new factories.
Bad example. New factory is an asset, not an expense. Therefore it will have little impact on profitability.
I see this letter as an attempt at vindication for the controversy sparked by the NYT article on Amazon's corporate culture. Jeff Bezos was clearly affected and I see this as a defense of their "distinctive culture". "For better or for worse" that culture got them to $100 billion in annual sales faster than any company in history.
I live in Seattle and am friends with a lot of Amazon folks. Most work very hard and complain from time to time, but I only know one who left for another job because most who are there now actually really like their jobs. One friend put it best after he transitioned from a small department in the ecommerce side of the business to one of AWS's early-ish hires, that most young departments have the thrill of working at…
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It's the value of certainty that people are buying. Think of it more like 'Shipping Insurance', delivery fees are an unfortunate unavoidable thing, like car accidents. However, by purchasing 'shipping insurance' one can normalize the cost of shipping similar to the way one normalizes the cost of car accidents through car insurance. There is a virtuous circle too that is the opposite of moral hazard typically incurred…
There are other valid reasons besides not paying the initial shipping cossts. Typically anything shipped Prime is a no-fee/no-hassle return. Great for when you're buying clothes. After accidentally buying something NOT shipped prime, then getting hit with a bunch of fees from the seller to return it I've gotten much more careful about it. We also get discounts on our monthly recurring purchases that make it cheaper t…
Am I the only one who read "Type I and II decisions" and thought "System I and II decisions" (from Thinking, Fast and Slow?). I like the idea of distinguishing reversible from irreversible decisions, I just wish he'd come up with better names...
I see this letter as an attempt at vindication for the controversy sparked by the NYT article on Amazon's corporate culture. Jeff Bezos was clearly affected and I see this as a defense of their "distinctive culture". "For better or for worse" that culture got them to $100 billion in annual sales faster than any company in history.
I live in Seattle and am friends with a lot of Amazon folks. Most work very hard and complain from time to time, but I only know one who left for another job because most who are there now actually really like their jobs. One friend put it best after he transitioned from a small department in the ecommerce side of the business to one of AWS's early-ish hires, that most young departments have the thrill of working at…
Earlier quoted context omitted.
I live in Seattle and am friends with a lot of Amazon folks. Most work very hard and complain from time to time, but I only know one who left for another job because most who are there now actually really like their jobs. One friend put it best after he transitioned from a small department in the ecommerce side of the business to one of AWS's early-ish hires, that most young departments have the thrill of working at…
I know a lot of people who have left Amazon, and are very bitter about how it was to work there. I know some who are waiting out their signing bonus. I also know a lot who've left Microsoft, but they definitely have a lower average bitterness about the company.
He knows the importance of image and says all the right things to tug at your heart strings... they're fighting global warming, they're helping single moms, and they're running a startup-like environment unlike the other big evil corporations.
You have to love this sentence "We want Prime to be such a good value, you’d be irresponsible not to be a member."
I like being that irresponsible one. Though it is impressive that Amazon has turned a delivery fee - that most people don't like paying - into an exclusive subscription service. A service that customers fall over themselves to sign up for when it's offered at a discount.
The whole thing makes going to a brick and mortar store feel like going to the DMV.