The Early Life of Jeff Bezos
Jeffrey Preston Bezos was born in New Mexico to Jacklyn and Ted Jorgense. His mother later remarried to Miguel Bezos in 1968. Bezos developed an early interest in computer science and upon his graduation, he received offers from Intel and Bell labs, However, he rejected the offers to join a Fitel, which he also quit to join Bankers Trust. People called him a successful man, earning six figures at the age of 30, even though he was still in a mission to accomplish more. After realizing that the internet was growing by 2400%, Jeff decided to quit his job and start his own company, Amazon.
Prefer to watch? Here’s an inspirational video:
How Amazon Got Started
When Jeff was working on wall street, he began to see the internet revolution take place and quit his job to start a company. At this time, he did not have any particular business plan, but after generating a top 20 list of things he could do, he finally got the right idea. He settled for selling books on the internet because of their low cost and high demand.
The first startup capital came from his parents’ savings. Bezos’ parents invested a large fraction of their savings to start the Amazon business. Even though his parents had no idea what the internet was or how it worked, they were still willing to give it a try. He told his parents that there were 70% chances the investment will not work out, but they still went through with it.
What are Jeff Bezos’s failures?
Jeff did many business experiments which never worked out for him. An example of those experiments include the Fire phones, which resulted in a $170 million loss, probably due to high competition from iPhone and Android. Other projects that went in vain are Amazon Local, Amazon Wallet, Endless.com, Askville, Amazon Webpay and Music Importer. However, not all Jeffs experiments failed, some worked like Amazon Kindle, Amazon Prime and AWS.
Never giving up is the best skill one can hope for. Jeff Bezos never stopped trying to be better. He always came up with new experiments which most of the time failed, but he never stopped trying. He was adamant and focused despite the challenges and failures; he always remembered the reason why he started.