The outgoing Amazon . com Inc. Chief Executive Jeff Bezos has some interesting parting shots in his last annual letter to shareholders. Employees, as well as customers, are the new obsession.
In his final annual letter to shareholders as CEO of Amazon, Jeff Bezos has outlined what the company needs to focus on in the future as well as some lessons to learn from the past. Bezos, the world's richest man, urged shareholders to be original, creative, and empathetic towards employees, third-party sellers, and consumers. The letter, which was also shared on Twitter, has left several social media users impressed. Many have picked up life lessons from the letter and have highlighted some of the key issues the tech billionaire touched upon. A user even described it as a “treasure trove.”
Our founder and CEO Jeff Bezos today published his 2020 Letter to Shareholders. Read the full letter here: https://t.co/K3tpRn0CPc
— Amazon News (@amazonnews) April 15, 2021
Bezos
wrote, “If you want to be successful in business (in life, actually), you have
to create more than you consume. Your goal should be to create value for
everyone you interact with.” Quoting this statement, a user said, “Bezos'
shareholder letter is full of gems, like this one.” He also went on to make a
list of things that stayed with him.
On Amazon's success:
— Jacob Cohen (@ImJacobCohen) April 15, 2021
- Amazon hired 500k in 2020, now employ 1.3m
- 200m+ Prime members, 1.9m SMB sellers
- 100m Alexa-connected devices in use
- 28% of purchases are done in 3 mins or less, 50% are done in 15 mins or less
One tweet
also noted that Bezos' message to “create more than one consumes” is a lesson
for the ages. The message, the user felt, addressed the issue of problem-solving
as well. “Create more than you consume'' is one of my all-time faves. Somebody
also once said "criticize by creating." How many people do we know
who criticize but can't seem to create as part of the solution to what they
criticize?” he wrote.
On how Amazon is innovating safety:
— Jacob Cohen (@ImJacobCohen) April 15, 2021
"40% of work-related injuries at Amazon are related to musculoskeletal disorders (MSDs)...We’re developing new automated staffing schedules that...rotate employees among jobs that use different muscle-tendon groups."
Another
user described the letter to be an “MBA on its own”.
This letter is an MBA on its own.
— Arsalan Zia William (@arsalanwilliam) April 15, 2021
The letters by Warren Buffett and Jeff Befzos should be an integral part of curriculum in business schools of Pakistan. https://t.co/j9eVNFzFmr
Bezos'
notes on survival, which he explained using a quote from Richard Dawkins' best
selling book The Blind Watchmaker, impressed several users. One such user
wrote, “Some gems in here, especially the metaphors for us all, inspired by a
long quote from Richard Dawkins' The Blind Watchmaker. Trust, we now see annual
letters from Amazon's Executive Chair.”
The Final letter from $AMZN CEO @JeffBezos As usual worth at least one read, if not more. Some gems in here, especially the metaphors for us all, inspired by a long quote from Richard Dawkin's 'The Blind Watchmaker'. Trust we now see annual letters from Amazon's Executive Chair. https://t.co/t6PFgHvcdi
— michael (@MParekh) April 15, 2021
Bezos also
touched upon the impact that Amazon has had on the lives of scores of
shareowners. He also reproduced a letter written to him by a couple, Mary and
Larry. Reacting to this interaction, one user said, “This letter shared by Jeff
Bezos just shows the insane amount of impact Amazon Inc has had on its
shareholders' lives.”
— ankitkr0.in (@ankitkr0) April 15, 2021
“Interesting...Love
the Mary and Larry story!” another Twitter follower responded.
A user also
applauded Bezos for sharing and quantifying how much the company had made for
different groups in the past year.
We should do this more often.
— Austen Allred (@Austen) April 15, 2021
All the focus is always on shareholders, stock price, and rich founders, but the fact is successful companies tend to produce way, way more value for customers and employees than shareholders.
Many others
agreed with the Amazon boss that “e-Commerce is the future.”
A powerful excerpt from Bezos' shareholder letter:
— Web Smith (@web) April 16, 2021
— Customers complete 28% of purchases on Amazon in three minutes or less, and half of all purchases are finished in less than 15 minutes. Compare that to the typical shopping trip to a physical store.
eCommerce is the future.
Several
issues that Bezos wrote about created a mark with readers. In addition to
talking about the need to create consistently, he also spoke about how making
Amazon ‘Earth's best employer and Earth's safest place to work' was intrinsic
to their success. He also wrote about the pledge that the brand had taken to
reduce the damage caused by human-induced climate change. “Smart action on
climate change will not only stop bad things from happening, it will also make
our economy more efficient, help drive technological change, and reduce risks,”
it read.
The letter
ends with a reproduction of Bezos' maiden annual letter to shareholders,
written in 1997.
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