Why Playing It Safe Is the Riskiest Thing a Founder Can Do (The Jeff Bezos Principle Nobody Applies)

He didn't.

“He followed a system and he wrote it down for over 20 years in every single letter he sent”

his shareholders.

My guests today Steve Anderson read all of them.

Then he pulled out 14 growth principles that explained how a company that lost money for a decade became one of the most valuable on earth. We get into the one most founders get wrong. Bezos called it unwarranted risk aversion. The idea that playing it safe is the most dangerous move you can make.

We talk failure as a strategy, obsession over the customer and why Bezos ended every letter the same way. It is always day one. If you are building something and you feel stuck, this one is for you, let's unlock it.

So Steve, welcome to the show.

I know you spent many years, I mean I'm going to say your whole life discovering, but many years looking at Jeff Bezos and really what he did and how he has accomplished. That means so much. I know you wrote this book called The Basel Letters, I'm looking here on Amazon thousands of reviews, you know, best selling book, I mean I'm so excited to jump in and see you.

Well, thank you. Thank you. I am too and thanks for having me on the show. So for everyone listening just, even just right now, tell us a little bit of like who you

“are and how did you even come to this idea or how do you find this concept?”

So I will start off by saying I stumbled into it.

My background is the insurance industry, spent my career there, early on selling insurance to individuals and businesses, kind of midway through that, I got intrigued with the technology piece. So agents, using websites and all of that and I kind of live through all of those technology changes from the internet to websites, to social media, etc., and now certainly AI.

But along the way, I was consulting with insurance agents and I think we all realize that technology continues to develop really rapidly. More so now than ever, I would say. But even 20 years ago, it was seem to fast. And so I started this idea, thinking about this idea, that the biggest risk, business

is phase is actually not taking enough risk. Sitting back, let me wait a few years, I don't know if this internet is going to be anything, let me just, and at that time you could do that, certainly today, much, much harder. So I started looking at companies in general and something I did, pretty effectively I would say, is look outside the insurance industry for ideas and trends and where things are going,

because the insurance industry tends to be very conservative and slow to adopt. So looked at companies that had once been very successful and were gone out of business. And companies that had been successful and continued to be successful and trying to understand what's the difference? Why one company did this and the other company wasn't able to.

Having that research came across Amazon had sort of heard and read maybe one or two of the letters to shareholders at Jeff Bezos wrote about Amazon, but got started getting deeper. And at one point, read every letter that he had published to that point, probably through that at this point was probably 2017 and read them one after the other as a narrative and realized there were trends that he talked about in the letters.

And really the trends that caught my attention were how he grew Amazon and how Amazon was able to be successful and continue to be successful. So that's the kind of what the hook that got me.

“And then I had this brilliant idea that created a legend, right?”

Here's some great takeaways from Jeff Bezos, I don't even know if he was a billionaire at that point probably, but obviously successful, Amazon continues to grow. Here's some things you can learn, wherever you are in your business journey from startup to 50 employees to 500 employees, et cetera. And so I created a one page executive summary of all the letters to that point.

Unfortunately, my wife is in the book publishing business.

And I showed it to her and she looked at it and said, this isn't a lead gen, this isn't

a giveaway, this is a book. And so that moment was actually my oh shit moment, which was, oh, I don't know how to write a book. And she sort of said, well, I do, you come up with the ideas, we'll work on this together. And so that was the start of a probably year and a half to two year process of actually

figuring out what the principles would be, how they apply, you know, research and all of that kind of stuff that went into the manuscript. And I said, I, you know, accidentally stepped into it, I had no conception of what it, it

would become and has become.

You mentioned bestseller, Wall Street Journal, USA today debuted on their bestseller list. Anna's been translated into 21 languages. And as you said, you know, lots of reviews and I, I still have sort of surprised, you know, why me, there are a lot of smart people in the world, but I had the right combination.

“And I think one of the hooks, it's a different about this book, is that view of risk, right?”

So the insurance industry is all about reducing risk, mitigating risk, transferring risk. And I was saying you need to take more risk, very counter-intuitive, certainly for me in the industry, but I think for people in general, who often are very risk-averse. There's a phrase based on uses that I still like a lot, which is unwarranted risk-aversion, right?

So anyway, well, you can want me, I don't think it's any way. You're going to have to interrupt me, so. Yeah, I don't think it's, anyway, I think it's very important. So unwanted risk-aversion, I think is what you said. Well, I mean, let's start there, like, what does that mean to Jeff Bezos, where do that,

“like, how did you even find that in all these letters?”

So it just, to recap, because I just want everyone to understand, you went and researched and found, I don't even know how you find this, but you found every letter, Jeff Bezos wrote to the shareholders to the board, and you then got, I'm going to say, you've got deep into it and really analyze and study these letters and started seeing trends and started seeing what was actually going on as Jeff was writing these and you can see probably

the evolution of the company of what he was writing. So you kind of went deep into that and then built the book around it called the Bezos letters and from the Bezos letters, there came, I believe, 14 business principles, they're 14. Well, I call them growth principles.

Jeff, 14 growth principles on how Bezos grew Amazon to what it is today.

“And I think, again, I always try and emphasize, regardless of where you are in business,”

these are principles that are principles, which means they're long term. They're not kind of flashing the pan, marketing hacks and things like that, but they are principles and the more I talk to business owners of all sizes, it resonates with people. Now they're not all easy to implement and that's part of the work that goes into it. But if you feel stuck as a business owner, if you're growing but not enough for these

are ideas that can help you get unstuck as the way I would say it. So, back to my question of the, as I don't know if that was a principle or not, but Eros talking about not having the fear and being able to be a little bit like, you know, go in and be unwarranted, risk adverse, I think is what you said. Yep.

It was at a principle or is that something that you've kind of saw within the letters

and, and saw it in, well, I, so I would say first, I saw it in the letters and how it

shows up is from the very beginning. So the first letter he wrote when Amazon went public was 1997 and he had kind of three main sections in that letter and some of the principles grew out of that. But one of the common threads throughout the letters and started from the very beginning was this idea that, and he based those new we needed to experiment in order to invent

of the customer are really kind of key ideas. What he said was, is that if you're going to experiment, you're going to fail, right? Because if you know the experiment's going to work, it's not an experiment.

“So you have to, as a business owner, be willing to suffer the failures to find the wins.”

So that idea became my first principle, which I call encourage successful failure.

So the structure or the framework is four cycles, test, build, accelerate and scale, and the principles fit into those four cycles. And that's just a way that 14 is a lot and we debated a lot about is a too many and right all of that. But that framework is a way to kind of grasp, you know, what principle affects you during

what phase of your business. And I believe those four phases, every business is going through all the time if there are a 5,000 employee business or a 5 employee business. They look different, but they're still the same, they're testing an idea, they're building on the successful results, they're accelerating the growth, and then they're scaling.

And then starting over again, and it could be different departments, different regions, etc. So yeah, so I got to answer your question that whole idea of experimentation and failure

“is one of the principles, and that's how I put it together.”

It makes sense when you hear it, but it's sometimes I think as business owners, marketers, because I mean, the amount of testing that you even have to do is a marketer, but I'd be just saying, that's the project builder, whatever it might be in the scope of business is, yeah, it's hard to test because there's a lot of failure that's going to come from it. But basals was basically saying, we're going to fail before we succeed if you're on this

board, get ready, which I love because it's also setting him up as well as why is this not happening? It's like, hey, and they got a buy-in, and they got a trust, and I'm sure they've had, I know they've had trillions of failures before they've had their successes, so that's interesting.

So test, test, he said it, 1997, we are going to basically test, we're going to trial, we're going to keep figuring it out. What I love at the end, you said something was, other for the customer or buy the customer, it was, or the, like, to support the customer.

So the customer was always kind of the forefront is in it.

And, yeah, and that's another principle, which when basals talked about it in the '97 letter, he said, we will assess over customers. And so my principle growth is obsess over customers. And, you know, this was an interesting principle because most businesses, well, I take care of my customers, or I have good customer service, or I've mapped out a good customer journey,

but there's a different flavor or connotation when you talk about obsess over customers. And I don't see many businesses obsessing over customers. Now, if you're listening to this, and you're buying for Amazon, there's a reason. And that reason is they obsess over customers, meaning they're always looking for lower prices,

they're always trying faster delivery, and they're always building more selection.

And those are three customer pillars that Amazon has put in place and continues to grow.

“But this whole idea of obsessing, and it can't have negative connotations, right?”

If someone's obsessive, they've gone too far, but can you go too far when you're taking care of the customer? I don't think you can, right? I think that there, I don't think there is a line for that, truly. And it's interesting, because you said they're always looking, they're always trying to build.

But I think there's also, I could be wrong, but they're also retaining. And what I mean by that is you ever try to return something when Amazon, you ever had a hard time doing it? Not often. Never.

I mean, I return, I had to return one product that was bought like two years ago, and they sent it again, and it broke a year later, and they let me return that product. And then they finally said, you know what? Let's just give you the full refund back. Yeah.

I used to product for like three years, and I was wearing a buying new product, but just, and it wasn't, it was like 150 dollar thing, but I guess what? The next day I bought more things off Amazon, and I actually tried to find products that

process to refund is going to be the easiest there is. And I think that's a point too.

I mean, in my mind, that always goes to how much friction do you have currently as a

business owner with your customers? What do you make them jump through? What hoops? That's all friction, Amazon is obsessive over removing friction, and that's just what you described.

So I want to ask, I kind of want to go deeper here, because I want, we're going to learn more about the principles, but I kind of want to go deeper in the psychology.

“If you picked up any, like, what was he really saying, what was he really thinking?”

Where there are moments when you were reading letters that seemed more panicky or more, let's say, last on the vision, and more maybe about not like, was there a time that he deviate from what what the mission was, maybe because it was lack of resources, or lack of money, or things were happening in economy, and he was just trying to save the company before

it exploded, or the letters always just the same tone?

No, they weren't. And when you say that, and I'm thinking is the 2001 or 2002 letter, when the internet bubble burst, and Amazon stock went, and I can't, I can't quote the numbers, that have to look them up, but something like $81 a share to six, and he started his letter without, it's been a brutal year.

“So I think he was on, again, as he CEO of a growing large publicly traded company, there”

are parameters around that, and at the same time, I always felt like he was being him real, or being who he is. I think he was pretty optimistic, I think he had a, interesting innate ability to look into the future, and really two examples of that. One is just seeing the internet, so the whole origin story with Amazon is he was a financial

analyst in New York City, and kept hearing about internet and how fast it used was growing, and he started asking himself the question, "Could it be used to sell stuff?" And he said, "Yes, it will be." And so another example is, I think it's probably 98 or 99 letters, again, or early letter, when he talks about how slow the internet is, and that bandwidth was a constraint on Amazon,

because it took time for the web page to load. They had to be conscious of how many images, right, all the stuff that had to happen to speed up the time, but he also said, and today is the worst it's ever going to be. So again, there's, there's acknowledging problems to overcome and being realistic about what

they could do, but he was always, he literally was always thinking multiple years

or decades ahead. The second example of that is his space company, Blue Origin. He started that in 2001. He had a long-term vision, in fact, he was valedictorian of his high school class in Miami, and his valedictorian speech was how manufacturing would be moved to space, so people could

come back to the Earth as a national park and visit. So long-term vision and the willingness to continue to step by step move toward that vision. Now look at Blue Origin, again, reusable rockets and interesting competition there between Muskenbezos and all of that, but now Amazon is launching satellites and has created what is now called Amazon Leo, Leo with four low earth orbit, satellite constellations for

a high-speed internet communication.

“That's how they've been working on that for years, so that's that one of my principles.”

And I can't, oh, there it is, it's in the build cycle. It's called a ply long-term thinking. As you're building, you need to have the conviction of what you think is right or what's going to be happening and be willing to continue, you know, really to suffer, not just losses, but suffer, what's the right word I want to use?

Well, I was going to stay suffer through the pain of not just the external of the people

And the people that set your vision and believe in a vision so big and so bright that other people can't see it and still stay on the lane to go through it.

“You know, at one point at one point, I think it was Bloomberg had a cover Amazon.bomb, right?”

I was during the, you know, dot com era, but still, I mean, people, they say you're

saying this don't never work, you've got to have something to keep that going and for

the time that really was long-term thinking. I think there's, there's a little bit of, you know, some people might call it psycho or sociopath or that there's definitely something that these, these guys have for sure that just, they're relentless, they don't even, if you, we don't know them, right? We don't know their personal journeys, but it feels like it doesn't even matter what

the journey is, they will just find the way to pursue and keep building no matter what happens. Yeah. It's, it's, we, like, anybody can sit here and go, it's quite remarkable what Jeff phases have done and with Amazon.

I mean, it's, it's, it's, it's amazing.

“And I know they just, I feel like that company's just starting.”

I was, I'm not sure if this was correct, but I always told, Mr. told this like many years

ago that, like, one of the goals or the missions is, can you buy something from Amazon and have it delivered at your house faster than it would take you to get in your car, drive to the store and come back? And that was, I don't know if that's still one of their goals or not, but like, I would not be surprised.

I mean, people are talking about, I would not be surprised in the next probably year, I would say year for sure, too, drones are going to be dropping off my packages. Well, and, yes, I totally agree with that, and that's another example of a long-term vision. I mean, they've been working on drones for a long, long time. You know, and people were, you know, I normal business would have given up a long time

ago. And so having that vision and end that long-term goal, fast delivery and faster, I mean, keep pushing that edge and they keep pushing that. And again, that's, and this is an example where principal stand on their own and they interact with one another.

So that's long-term thinking, that's obsess over customers, that's leveraging time with technology. I mean, it's, it's a number of principals that are, that are interacting there, that create that environment that can be successful. So let me, let me ask this question. As you were going through all these letters, we, and you came up with the 14 principals,

which were the one or two that really stood out for you, that you know, that I knew this had to be in the book, this was one of the game changers, what was that principal and how did you come to it? There are a couple that come to mind.

“I think first we talked about the encouraged successful failure, quick story on where that”

came from. It definitely was intertwined with experimentation and baseless was a big believer in experimenting. And one of the things that could have friend of mine who did an early read of the manuscript and he came back with, on that principal he came back with, you know, employees aren't afraid of failure, but they are afraid of the consequences of failure.

And that holds companies back because they won't experiment, they won't try something new, they won't because they're afraid, they're afraid they're, you know, career's going to get hit, they're going to get fired, they're going to, you know, etc, etc. So that was one and that phrase literally came from the Apollo, the, I just forgot

the director's name hang on a second, Apollo 13 movie at the very end, so I'm a space

not have been forever, so I love space stuff. And watching at the very end of that movie, Ron Howard's movie, thank you, Apollo 13 really good movie, and at the very end, Tom Hanks, who's playing the commander gym level, is stepping off the helicopter onto the deck of the E. Wajima, and he's narrating in the background, our mission, Apollo 13, became known as NASA's most successful failure.

We didn't make it to the moon, but we got all three after us back alive. And that, to me, encapsulates the definition of a successful failure, so that, I mean, that, it learned. So that's one. Yeah.

So another way of saying that just from my perspective is there's learning to be, like, every

to the wind, completely, closer to the wind without the, without the trial, without the

air, without the consequences, and most part, without the failure, right, exactly.

“I think another, we talked of SES over customer, so I won't go into that one again.”

The other one that resonates with me, and a little story behind it, is in the accelerate cycle, it's called make complexity simple. And so we talked some about that, right, just about returns. And then the most places it's complex for the customer, certainly, at Amazon, it's less so.

So they make complexity simple. That came from a, I was listening to MPR radio interviewing when Amazon bought a company called Pilpac, which was a pharmacy company that, mail order, pharmacy company that specialized in patients who had multiple medications per day. And they created a process to package in a little plastic, you know, a little plastic

by date and by time, morning, noon, 12, I mean, whatever. I mean, just pop them up and eat them up. And they, you just open them and take them, you didn't have to use the pill boxes and all of that kind of stuff. So Amazon bought them.

One of the first four rays into that, you know, pharmacy healthcare, et cetera.

One of the CEOs of the established pharmacy company, I don't, I think it was Walgreens, but I had, again, I have to look that up again. He was being interviewed and was asked about, you know, how is this effect you, you know, Amazon getting into the pharmacy business? And there's been, there had been a bit of a trend of kind of the Amazon effect, right?

And the CEO said, yeah, I'm not really worried about Amazon because it's more complex than they realize. And I thought, I literally said, I remember this. I said, out loud in my car, I was alone.

“But I said, that's what Amazon does and say, make complexity simple.”

And so again, how do I say this experience? I mean, how I kind of put these ideas together ended up with, you know, the book and then framework of the growth principle. Well, that is. Now, we talked a lot about what was in those letters, you know, and there's four, we don't

want to give all the principles away. That's the whole point. I got to get the book because they really get principles. But was there things that you saw in the letters, even maybe going through the journey of Bill Bill in the book, where we're not talking, like they didn't maybe make the book,

that maybe should have made the book and/or things that you saw with those letters that, like, what was he not saying?

“I think we talked about those before the show.”

I was like, I want to understand, like, what was he not saying in these letters? Because these letters, again, I'm assuming just for the audience, like, you're writing letters to a board, where at this point, you know, I'm going to assume Amazon's losing multiple, multiple millions. If you don't understand, like, Amazon was losing multiple millions of dollars a month.

Yeah, especially, especially the first 10, 10, 15 years, profit was negative, like negative.

And how are you writing, and what are you writing to these people who are still dumping money, the board, that they have the pressure from everyone else, and you have one guy that's still sitting on the vision, like, what was he not saying in those letters indirectly? A couple things come to mind, and he ended up addressing them later, so let me, and what's coming to mind is employees, and really more specifically, fulfillment center employees,

the warehouse workers, lots of stories of what's the right word, tough working conditions, their drivers not being able to take breaks, you know, things like that. And early on, even in that, I think the 98 letter, he talked about the importance of employees, you know, employees and hiring the right employees in order for Amazon to be successful. But he also said, this is a tough place to work.

We have a vision, and here's how he phrased it. We are building something great, something we can tell our grandchildren about. Part of that translated into pushing for faster, and maybe not, certainly early on, maybe not taking as much time or effort or thought into how do we better treat our warehouse

Now, I think because of pushback, responding to some of that, they actually, so Amazon

had 14 leadership principles that are different than my growth principles, but they're some overlap, but they added two more just before he steps aside as CEO, and one of them was, will be the Amazon will be the best and safest place for an employee to work in the world. So, that, and again, for them, leadership principles are core, you know, to who the organization

is. So, that was a different focus. I think there's still legacy, kind of thoughts, I mean, one of the pushbacks I get talking about the book is, yeah, but he treats his employees like crap.

“Well, that's what I was thinking, I didn't want to say it, but like for my understanding,”

they're actually not the greatest working conditions. They're actually unsafe working conditions, and I know there are, I know there's safety regulations that are different in North America to other countries as well, and he can only control so much in those safety, you know, as a business owner, he can only control so much at that level, but for my understanding, it wasn't actually the safest and most fruitful

place to work. And I'm going to go back to customer obsession, because that's one of the things you have to be aware of, if you're obsessing over customers, and speed is the measure of that obsession, then you're going to push employees harder and harder and harder.

“And, where house employees get healthcare on day one?”

They have what's called career choice, so they Amazon will pay now, it used to be 90 percent,

now it's 100 percent of tuition for schooling, I'll say that, and it doesn't have to be related to their job, it could be they'll pay for a nursing degree, so yeah, and again, that emphasis on safety, and again, this is sort of the interesting, because the other piece to this is their continued work on robotics, so they are replacing, okay, the very first fulfillment center, I went, I was, did a tour of, walked into.

When you clicked by, a employee and a fulfillment center got a notice on a handheld device, go to aisle 23, shelf 8, section 3B, and pull this. They had a cart with a yellow bin that they walked up and down miles and miles of these aisles in a fulfillment center of probably at least a million square feet, and they were walking and doing that, that has been replaced by robots, so they no longer have that

position. Now, now they're getting, well, you're putting people out of work, but people are also complaining, well, it's unsafe to, I mean, so it's an interesting counter, you know, working of, yes, we're trying to be safer, and we want to be faster.

“Here's the thing with that, because I think we're getting to do a little bit of a different”

topic, but the reality is, because I'm, I've gone all in on AI, so I'm asking that,

it was, I mean, all in, I mean, all in, whatever I do, it's through AI, the how I think is how can AI do this, because whether, whether you believe it or not, this thing isn't coming and going, this thing is here, and it's here to take over, it is here to take over your job, it's here to take over your business, it's here to take over civilization. We really is, so for me, AirCoffer, I don't want to bush this, but AirCoffer, I had

one of the best quotes, and he said, in times of change, the learners will inherit the earth, while the learned find themselves beautifully equipped to live in a world that no longer exists. And we are in that change right now. So I look at it and go, you can either fight it, argue it, and think it's not coming, the same people who once said, you don't need a website, well, I guess why, I know you're right,

you're right. You don't need a website today, today you don't need one, I guess one, and it's going to be the same with AI, so that's just the reality, but I hope that with AI, those jobs are going to be replaced and 10 more jobs might be created, and that's the opportunity.

and I absolutely am convinced new jobs that we can't even imagine right now are being created.

“And actually, mentioning AI when we first started, we talked about analyzing the letters”

and all of that, and I almost popped up and said, and I didn't even have AI to do that, I had to do that myself. I mean, can you imagine, though, like what you're a 2.0 book would be, how do you mean, well, all those letters, and I like to, like, and here's the reality. I like to say, you're the smartest guy in the room, when you got the team full of smartest

people, I'll tell you something, you're no smarter than all those people combined. AI. And I guarantee you, AI can look at all those letters and pull some crazy stuff out of there

that we wouldn't even be able to think, and that's just the power of it.

But here's the most part, are you the guy who's using the AI in that way to pull out that information, or are you the person who's sitting around and saying, oh, I, is not going to work, and I'm just going to write this on my own, you know, et cetera, et cetera, but yeah, I can't imagine you, no matter where you guys would have done and detailed you would have been letters, you would have had a poll to read those, and I actually come up with

all that. That goes without saying, I mean, what a, what a, what a great thing you did. I would say, what, like, I mean, awesome. Like, I mean, this book, so obviously, doing a successful, it is for a reason, and I love it.

The basil's letters. So as we come to an end here, I know I'm looking on Amazon, but where else can people get this book? I'm going to say, people need this book. We talked about like one or two of the principles, there's 14 principles here.

If you're business, you're in marketing, I'm going to say, even probably in life, there's 14 principles that Jeff Bezos has, has kind of lived by, I would say, directly indirectly to create Amazon. So if you want a life like that, follow the principles, get the book, work, and they find the principles in the book.

So obviously, the book itself, and it's all formats, you know, physical, digital, and audio, available on Amazon, the book website is thebasosletters.com, and there's some additional information there on, you know, helping little work books and some things like that to help, actually, I was really trying to be very intentional about not just having the ideas,

“but how can we actually do something with it with it?”

And so, and interestingly, Bezos is building an AI company right now. Oh, I'm really, I mean, they all like that. And it's really, he's, he's focusing on manufacturing and how AI can help manufacturers, you know, being streamlined, et cetera, et cetera. Well, I think it's already happening.

I know that they're working on robots right now. They put 'em in, I believe, I forgot what it was like, the BMW plant, and they put that same robot into like a food manufacturing plant, and the robot did the job of like 10 employees, more efficiently, more effective, and I mean, that's the scary thing, right? Like, that's the jobs, you know, robots, and an AI is going to take over.

I got one deep question for you, and only because I know you studied these letters, and

“you must have gotten deep into the psychology of Jeff himself.”

So, let me ask you this, knowing what you learned from those letters and the principles, and everything you saw, all the triumphs, the ups and downs, if Jeff was sitting there with his son, and his son asked him, "Daddy, what's one thing I need to know of a business in life? What do you think Jeff would be saying to his son?"

There's so many things I think he would say, I think I would distill it down to, don't be afraid to experiment, have a long term vision, understand where you want to go, and

believe it's always day one.

So we didn't talk about that principle, that's the last one, but he ended every single letter he wrote with some version of it's still day one, it's always day one, and day one is a mindset of the excitement when you first open the doors to your business, whatever that looked like for you, that excitement of helping customers, having something to do, that, and Amazon's been described as the world's largest startup, because that mindset of, we still

have a lot to learn, and I don't think we have time for the whole story, but I want

a question from an employee in the audience, he had talked about company update and opened

it up for questions, the question was, Jeff, because of that day one, that's very common,

Jeff, what does day two look like, and he kind of chuckled, and he said, I think I know

the answer to this question, day two is stasis, followed by irrelevance, followed by excruciating

“painful decline, followed by death, and that's why it's always day one, so you think about”

those companies that once were very successful, and they actually told that story in 2016

letter, and he said it could take 20 years for that process, but once it starts it's really hard to reverse, and he said, and this is, I want to tie into a little what you said earlier

“about AI, he said there are four things that I think will help fend off day two, I won't”

go through all of them, but the one is eager adoption of external friends, and he identified in 10 years ago machine learning and artificial intelligence as one of those trends, so again, looking ahead, not being afraid, having an understanding of experimentation and trying and

“move it for it, I think there'd be some version of that conversation to a son.”

I love it, I'll Steve, thanks so much for showing up and being here with us, and for those of you that want to learn more, it's the Bezos letters, all you got to do is go to Amazon and put in the Bezos letters and you can't miss it, thank you so much.