A terrific interview with Bezos.
His comments on innovation and strategy are hugely important. Persistence and addressing moments of customer doubt, desire and dissatisfaction (MODs) are central to the strategy. I’ve maintained for sometime now that the greatest digital businesses today – Amazon, Uber, Apple – and Xero – are all built on addressing fundamental MODs. And those that do all three, are unstoppable.
Loved his comments on managing shareholders. The learning that there isn’t a shareholder anymore than there is a customer. What businesses have to focus on is the institutions and shareholders that they seek to attract and are built to serve. It’s interesting that Amazon only meets with a few of the institutions that hold there stock, and only those that reflect the investing strategy Amazon seeks.