Jeff Bezos’s Life Changing Advice (Must Watch!!) The $150 billion dollar man share’s his greatest advice with you.
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►Speaker
Jeff Bezos
Bezos is the former CEO and Chairman of Amazon and one of the richest people alive (2023).
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There's certain people that you do not Want to try and beat at their own game And certainly Jeff Bezos would be number One I mean that'd be like me playing Chess with Bobby Fisher you know 40 Years ago to be home all over on the First move uh Jeff no he's just showing Amazing talent in figuring out how to Please customers and in a very short Time and what's interesting to some Extent about him the same thing's Interesting about Fred Smith of federal Express it isn't that they've had some Breakthrough and you know found some Molecule this or that or or come up with Some you know incredible invention They've taken fairly ordinary things I Mean starting buying books and you know But Fred Smith took the airplane and the Delivery truck and the postal service But then they just put it together in a Very imaginative way you know but the Central Hub and all that and and came up With a whole new industry out of Components that were known to everybody And in a sense Bezos has done the same Thing now he's building big distribution Centers and employing the latest Technology the Kindle came out of there And there's some products but Overwhelmingly he's taking things that You and I were buying before and he's Figured out a way to make us happier Buying those products either by fast
Delivery or prices or whatever it may be And that's remarkable when you think About it entrepreneur media proprietor Investor and Commercial astronaut Jeff Bezos has become a household name and One of the most influential figures in The business world Under his leadership Amazon has become One of the largest and most successful Companies in the world with a presence In nearly every industry imaginable Coming from humble beginnings Jeff began Selling books on the internet from his Garage to becoming one of the richest And most successful people on the planet Ingraining not only Amazon's name and Everyday Society but his as well went to My boss and said to him you know I'm Going to go do this crazy thing and I'm Going to start this company selling Books online then he said let's go on a Walk we went on a two-hour walk in Central Park in New York City and the Conclusion of that was this he said you Know this actually sounds like a really Good idea to me but it sounds like it Would be a better idea for somebody who Didn't already have a good job and he Convinced me to think about it for 48 Hours before making a final decision and So I went away and was trying to find The right framework in which to make That kind of big decision and you know I'd already talked to my wife about this
And she was very supportive and said Look you know you can count me in 100 Percent so it really was a decision that I had to make for myself And the and the framework I found which Made the decision incredibly easy was What I called which only a nerd would Call a regret minimization framework so I wanted to project myself forward to Age 80. and so okay now I'm looking back On my life I want to have minimized the Number of regrets I have And you know I knew that when I was 80 I Was not going to regret having tried This I was not going to regret having Wanted you know trying to participate in This thing called the internet that I Thought was going to be a really big Deal I knew that if I failed I wouldn't Regret that but I knew the one thing I Might regret is not ever having tried And I knew that that would haunt me Every day so when I thought about it That way it was an incredibly easy Decision if you can project yourself out To age 80 and sort of think what will I Think at that time it gets you away from Some of the daily pieces of confusion You know I left this Wall Street firm in The middle of the year when you do that You walk away from your annual bonus That's the kind of thing then the short Term can confuse you but if you think About the long term then you can really
Make good life decisions that you won't Regret later Jeff's Keen Eye and ability To look proactively toward the future While taking couch calculated risk has Contributed to a success his instincts Told him the internet was going to bring Massive opportunity for those willing to Be creative despite doubt and criticism From those around him he knew taking This leap of faith would be the best Decision for not only himself but for Future Generations as well one of my Jobs as the leader of Amazon Is to encourage people to be bold and People love to focus on things that Aren't yet working and that's good it's Human nature that kind of divine Discontent can be very helpful but it's Incredibly hard to get people to take Bold bets and you need to encourage that And if you're going to take bold bets They're going to be experiments and if They're experiments you don't know ahead Of time where they're going to work Experiments are by their very nature Prone to failure but big successes a few Big successes compensate for dozens and Dozens of things that didn't work so you Know bold bets AWS Kindle Amazon Prime Our third party seller business all of Those things are examples of bold bets That that did work and they pay for a Lot of experiments I've made billions of Dollars of failures at amazon.com
Literally billions of dollars of Failures but they also They don't matter what really matters is Companies that don't continue to Experiment companies that don't Embrace Failure They eventually get in a desperate Position where they only thing they can Do is make a kind of Hail Mary bet at The very end of their corporate Existence whereas companies that are Making bets all along even you know big Bets but not bet the company bets I Don't believe in bet the company bets That's when you're desperate that's That's the last thing you can do you Know you don't choose your passions your Passions choose you how you how they are Formed you're never completely sure but I do think you get imprinted somehow Early on with certain things you just Get excited about them and because You're excited you pay more attention And they grow being an inventor requires Because the world is so complicated you Have to be a domain expert I mean in a Way even if even if you're not at the Beginning you have to learn learn learn Enough so it should become a domain Expert but the danger is once you've Become a domain expert you can be Trapped by that knowledge and so Inventors have this paradoxical ability To have that you know ten thousand hours
Practice and be a real domain expert and Have that beginner's mind have that that Look at it freshly even though they know So much about the domain and that's the Key Um to inventing you have to have both And I think that is intentional I think All of us have that inside of us and we Can all do it but you have to be Intentional about it you have to say Yeah I am going to become an expert and I'm going to keep my beginner's mind Well long-term thinking is a lever it Lets you do things that you could not do Or couldn't even conceive of doing if You were thinking short term you know if If I collaborated with somebody here in This audience and I said look I want you To solve world hunger and I want you to Do it in five years you would Properly reject the opportunity you Would say look it's not possible it's Not practical but if I said look I want You to solve world hunger in a hundred Years That's a job you'd take because it's a Much more addressable problem you can First create the conditions you have Time to create the conditions where then You can solve the problem and so that's That's a very important way of thinking And it works with everything I mean you Have to back up and find the right time Horizon for what you're trying to do but
You know at Amazon we probably do most Of our things we expect to get some Results in sort of five six seven eight Years but we find a lot of our other Companies that compete against us in Various ways they're often trying to get Things done in you know two or three Years and so we can do things that you Know if you if everything has to work in Two to three years Then that limits what you can do if you Give yourself the the breathing room to Say okay I'll I'm okay if it takes seven Years all of a sudden you have way more Opportunities take bets be an expert With a beginner's mindset and planning Your goals in a long-term format are Some of the secrets behind bazo success Being able to constantly adapt and learn The growing Market is essential to make Your company your brand and your name go Down in history Jules Verne Mark Twain Galileo Newton All the Curious from the ages Would have wanted to be alive most of All right now [Music] As a civilization we will have so many Gifts just as you as individuals have so Many individual gifts as you sit before Me How you use these gifts and will you Take pride in your gifts Or pride in your choices
You can choose we all get to choose our Life stories and it's the choices that Define us not our gifts everybody in This room has many gifts I have many Gifts you can never be proud of your Gifts because they're gifts they were Given to you you might be you know tall Or you might be really good at math or You might be extremely beautiful or Handsome or you know or there are many Gifts and you can only be proudly of Your choices because those are the Things that you are that you're that you Are acting on and one of the most Important choices that each of us has And you know this just as well as I do Is you can choose a life of ease and Comfort or you can choose a life of Service and adventure And when you're 80 which one of those Things you think you're going to be more Proud of You're going to be more proud of having Chosen a life of service and Adventure Choose a life of adventure a life worth Looking back at in 80 years with no Regrets create a story to tell and let The world be inspired by it Foreign [Music]
