Interesting Facts about Jeff Bezos: "Only 3 Decisions a Day"

Unique Laugh of Jeff Bezos

Amazon founder Jeff Bezos has a truly unique smile.

[caption id="" align="alignright" width="419"] Jeff Bezos shares his daily routine to succeed[/caption]

There is even a video on YouTube that only collects his laughter.

I don't know if that smile brings good fortune or money, but it's definitely an unusual laugh.

It is said that when Bezos was in high school, he laughed so loudly that he was even banned from entering the school library.

Customers come first, even if they give up profits. There is another unique thing about Jeff Bezos.

It's the fact that they focus on their customers to an unusual and obsessive degree.

 

 

The anecdotes of turning off the lights in the in-house vending machine to save electricity bills, or tearing down all the desks in the office at the beginning of the business, were to give a clear message that you only spend money on the parts that affect customers and don't spend money on other parts. .

Even Amazon Web Services (AWS), Amazon's cloud service division, analyzes customer usage patterns and automatically checks and informs customers when the features they are using with Euros are underutilized, preventing unnecessary costs from occurring.

This has resulted in customer savings of up to $500 million a year.

In other words, AWS gave up $500 million in annual sales.

That's how Amazon cares for its customers. Customers are bound to be impressed

But aside from his quirky laughter and great focus on customers, Bezos has a lot of fun.

Some are well known and some are not.

Let's look at some more interesting facts about Jeff Bezos.

Originally dreamed of being a theoretical physicist Bezos,  who had studied well from a young age, became a Prince and went to Tun University and majored in theoretical physics.

He was solving a difficult partial derivative problem with his friend one day. It was so hard he was trying to solve it for three hours

He concludes that he can't solve it, so he goes to see a friend from Sri Lanka who is called a true math genius.

The friend listens to the problem for a few minutes and then tells him that the answer is cosine.

Bezos was surprised. “Did you really solve that in your head?” he asks.

This friend replied, "No, I solved a similar problem 3 years ago, but when I superimposed that problem on this one, the answer must be cosine."

The friend then guides him through three pages of answers.

Bezos realized then. ‘Oh, I can never be a theoretical physicist.

Bezos then changed his major to computer science and graduated.

[caption id="" align="alignleft" width="383"] How many years will take Jeff Bezos to finish his wealth[/caption]

• • • • Jeff Bezos founded e-commerce giant Amazon in 1994 out of his garage in Seattle. He stepped down as CEO to become executive chairman on July 5, 2021.
      • Amazon thrived during the pandemic; revenues in 2020 grew 38% to $386 billion as people stayed home and made online purchases.
      • In April 2020, Bezos said he would give $100 million to Feed America, a nonprofit that operates food banks and food pantries across the country.
      • Amazon has faced criticism from U.S. senators and the general public for its treatment of warehouse workers during the coronavirus pandemic.
      • He and his wife MacKenzie divorced in 2019 after 25 years of marriage and he transferred a quarter of his 16% Amazon stake to her.
      • Jeff Bezos owns The Washington Post and Blue Origin, an aerospace company that is developing rockets for commercial use.

Why he Chose an Internet Bookstore Before starting Amazon.

Bezos was the vice president of a hedge fund called D. E. Shaw.

He had already had a successful career at a young age.

Then he finds out that it's the Internet in 1994.

It turned out that it was growing at 2300% per year.

Jeff Bezos thought.

At this rate of growth, even if it's not a big deal now, it could be a huge thing in the future.

He quits his company and leaves Wall Street to start selling books online in Seattle.

Why did it have to be a book?

It is said that about 3 million books are sold in the world.

https://www.youtube.com/watch?v=4-rvF5UQvUY&ab_channel=TalkSense

More than any other product line.

But even the largest bookstore in the world doesn't sell more than 150,000 books.

If you sell books online, you can sell all the books of the world.

Books were the products that could maximize the efficiency of the Internet platform.

He initially intended to name the company Cadabra.

It was named after a spell that was chanted when performing magic called 'Abracadabra'.

But while talking to a lawyer

He gave me the name of the company and he figured it out as cadaver meaning corpse.

"I didn't want this to happen. So, I'm turning to Amazon."

He is said to have built it in the sense of being a place with as many options as the largest river in the world.

Power Point Ban

[caption id="" align="alignright" width="448"] PowerPoint Presentations Are A Strict NO In Amazon[/caption]

Some of the Bezos Principles are second only to our obsession with our customers.

First of all, there is the principle of prohibition of PowerPoint. Many companies use PowerPoint for their meetings.

But at Amazon, we write a six-page narrative report.

Think of it as a report with some kind of storytelling. Why?

This is because the human brain is more receptive to story-type texts than to itemized summaries.

The Rule of Two Pizzas

He also said that if you can't feed everyone in the meeting with two pizzas at a meeting, you have to take it as a sign that you're getting too many people to solve one problem.

That means you've hired too many people. The rule of two pizzas came out like this.

Bezos sees regret as something he should minimize in life.

When you look back on your life before you die, you shouldn't have any regrets.

However, regrets are more often caused by regrets about things that have not been done or a path not taken than when they are caused by doing something.

Rather than not doing it and regretting it, it means that you should try it first.

Only 3 decisions a day Bezos believes that CEOs of companies should make fewer, high-quality decisions.

[caption id="" align="aligncenter" width="525"] 3 Decisions per day[/caption]

So, it is said that making three right decisions a day is enough.

I make the most brain-intensive decisions before lunch, and around 5pm put them off until the next day.

He says he tends to rely on intuition when making decisions.

“The best decisions I have ever made, whether in life or in business, have been decisions based on intuition rather than analysis and decisions based on my heart rather than my head.”

[caption id="" align="alignright" width="534"] Amazon Prime Video gives members access to exclusive shopping and entertainment services, discounts and more[/caption]

A typical example was the decision regarding Amazon Prime (a paid membership program).

Prime is a program that gives you free two-day shipping on anything you buy for a certain amount of money a year.

You may think that two days is too long, but in a country as wide as the United States, two days will be difficult.

So Prime is, as Bezos explains, a service that combines an all-you-can-eat buffet and free shipping.

But when I modelled it, I got terrible results. It wasn't a way to make money.

But when I thought about it intuitively, I thought it was a service worth trying.

It was intuitively thought that people who shop a lot on the Internet would make money by signing up.

I knew there were a lot of gourmets coming to the buffet.

Bill Gates and his cousin

Microsoft founders Bill Gates and Bezos live in the same town as the world's richest person.

It's called Medina, a wealthy town on the shores of Lake Washington overlooking Seattle.

If the world's first and second richest people live in the same state, not in the same city, but in the neighborhood, I wonder if there is something special about feng shui there.

[caption id="" align="aligncenter" width="1908"] Amazon CEO Jeff Bezos wealth as seen through his properties[/caption]

Attitude to Criticism

There are too many forces these days to keep the Amazon in check.

[caption id="" align="alignright" width="472"] Jeff Bezos Quotes[/caption]

Because Amazon is doing so well.

The Wall Street Journal recently reported that a non-profit organization that opposes Amazon on a whim was found to be in fact receiving money from Simon Properties, Walmart and Oracle.

Simon Property owns an American shopping mall, Walmart is one of Amazon's biggest competitors, and Oracle is competing with Amazon in the cloud business.

There are also concerns that Amazon could be viewed as a monopoly and could be investigated in the US or Europe.

In response, Bezos said, "It is only natural for all organizations or national institutions, including large corporations, to be investigated or audited by the authorities.

That is how healthy society is. Taking such an audit as a personal attack is just a waste of energy.”

“I just want you to know that there are things in the world that only large companies can do,” he said. “Not everyone can build a Boeing 747 in their garage.”

Email jeff@amazon.com

Jeff Bezos has been disclosing his e-mail address for a long time. When customers send emails

He is said to have even sent replies in the past.

He says he actually sent out random mail to 1000 customers when he only sold books and thought he was going to sell something else.

“What should I sell?”

Surprisingly, the answers were very diverse. Customers responded by writing the items they needed at the time.

Bezos thinks. I could sell anything. So Amazon expands its business by selling everything from books to music.

[caption id="" align="alignright" width="289"] The A to Z of Amazon[/caption]

As in the logo, we sell everything from a to z.

Jeff Bezos still has this email address.

I don't reply now, but I read it occasionally and if I see a problem that can be solved, I send an email to the appropriate department.

Of the above, I learned the most from ‘the attitude to accept criticism and trials’.

Because I think we tend to be too emotional with critics.

Many leading companies in Korea are really criticized a lot.

When criticized, you can either ignore it or accept it and fix it.

But Korean companies waste too much energy in the process.

[caption id="" align="aligncenter" width="510"] All the companies in Jeff Bezos's empire[/caption]

Of course, you can say that it is because there are many things that companies have done wrong, or, conversely, you can say that it is because there are many nonsensical criticisms.

But if we can find a way to minimize emotional involvement in responding to criticism, wouldn't we be able to use the energy we use to fight the outside world in more productive areas?

Which of the above stories did you find the most interesting?

What else was most helpful?