Actionable Insights from Jeff Bezos' Interview at the DealBook Summit

Risk is often overestimated; opportunity is often underestimated.

Podcast: https://www.founderspodcast.com/episodes/374-rare-jeff-bezos-interview

Build something that outlasts you

Since early days of Amazon Bezos was thinking long-term and was quite clear that he wanted to build a company that would outlast him.

Spotify's Daniel Ek shares a similar sentiment: Companies grow like children — initially they are a reflection of their creator, but over time they develops its own traits and characteristics.

Steve Jobs said something similar: You build a company that will stand for something a generation or two from now.

Follow your curiosity

One of his driving principles is "I wake up and follow my curiosity". Paul Graham calls curiosity the best guide for doing great work.

Instead of over-analyzing your next move, follow your curiosity and let that be your compass.

AI is the new electricity

He describes AI as just an horizontal enabling layer, just like electricity. When electricity came out, people only wanted light bulbs; everything else came after. People weren't putting electricity in their homes; they were putting light bulbs in their homes. At that point they weren't even thinking of appliances, switchboard or anything, and there wasn't even a concept of off switch.

Similarly, AI, like electricity before, will be embedded into everything, transforming industries in unpredictable ways.

If AI is an enabling layer, ask: How can AI supercharge my business, my workflows, my products?_ The most valuable companies of the next decade will answer this question well.

Link to his 2003 TED talk: link

The AWS Insight: Computing as a Utility

His inspiration for AWS came from a 300 year old Luxembourg brewery that had its own power generator -- because at that time, there were no power grids. Similarly, before AWS companies had their own data center and he realized that it's not going to last.

That meant companies had to focus on something that wasn't their core business, true for anything in the past that had to worry about generating their own electricity.

The Power of Being Misunderstood

He has long accepted that he will be misunderstood. He prioritizes doing what he believes is right over chasing a good PR. He said, if even your closest loved ones do not fully know you, how can you expect others to understand you?

Warren Buffett and Charlie Munger have similar philosophy. They keep an inner scorecard -- measuring success by their own principles, not external validation.

If no one skeptical about what you're doing, you're probably not pushing hard enough.

Meetings Should Be Messy

He insists that meetings should wander, and people should not come into meetings with rehearsed responses. He also always speaks last and is always asking if anyone has any dissenting opinions.

Meetings should be raw, unfiltered and people should feel comfortable challenging ideas.

Optimism is a Moral Duty

Edwin Land, Steve Jobs' hero, believed that "optimism is a moral duty". Bezos embodies this mindset, he truly believes there has never been a better time to be alive.

As a leader, you need to exude optimism. Ambitious projects require an unshakeable belief in a better future.

Every Decision is an Opportunity Cost

He explains why he does so few interview. "Every minute I'm doing this, I'm not spending that time doing something else".

Time is your most valuable resource — guard it fiercely. Choose only what moves the needle for you.

Ferocious Intelligence

Charlie Munger once said, "He is ferociously intelligent."

The relentless curiosity, optimism, and long-term thinking are what makes Bezos worth studying.