I knew that if I failed I wouldn’t regret that, but I knew that one thing I might regret is not trying
One needs a better motivation and an even better idea before leaving his job, but one needs an undying passion for quitting his job. Jeff Bezos had left his job as the youngest Senior Vice President at the investment firm D.E. Shaw to found Amazon. The ever curious Jeff Bezos has a long-term plan to establish a human colony in space, and the first step towards his ambitious plan is the Blue Origin – a company established by Jeff focuses on private space travel.
Jeff Bezos has overtaken Bill Gates and become the richest person in the world, with a fortune topping $90 billion for the first time ever in 2017. He founded Amazon (NASDAQ: AMZN) on July 16, 1995, which has a market cap of around $427 billion according to Forbes. He left his lucrative finance job to pursue his dream of becoming an entrepreneur, started as an online book selling company.
Jeff is a summa cum laude graduate of Princeton University with a degree in Computer Science and Electrical Engineering. A notorious entrepreneur famous for his anger, according to a former employee he once said “I’ am sorry, did I take my stupid pills today?’ and once he said, “If I hear that idea again, I’ am gonna have to kill myself”.
He was born with curiosity; when he was a toddler, he dismantled his crib. To keep his siblings away, he designed an electric alarm, and also he turned his parent’s garage into a laboratory. His laugh terrifies many, and customer satisfaction is his utmost priority.
Born: January 12th, 1964 Albuquerque, New Mexico
Net Worth: $90.6 Billion (As of July 2017)
Ultra-driven, intelligent, and ever curious as Jeff is, he expects everyone around him to be the same. The story of a notorious entrepreneur:
- Born to a teenage mother, Jacklyn Gise Jorgensen and his biological father, Ted Jorgensen later after four years Jeff’s mother married a Cuban immigrant Mike Bezos. When the family moved to Miami Jeff developed the love of computers and his first venture an educational summer camp for a fourth, fifth and sixth grade.
- He worked for several firms in Wall Street including Fitel, Bankers Trust, and D E Shaw, where he met his wife Mackenzie Tuttle and married her in 1993.
- HIS LAUGH according to his former employees was the best instrument of punishment and some also believe that the execs of eBay when approached Jeff for the investment, were put off by his laugh.
- Drive to glory: In the last week of July 1994, Jeff and his wife drove towards west while Mackenzie held the wheel Jeff held his Laptop and sketched out the business plan. Today that company is named as Amazon.
A brand for company is like a reputation for a person. You earn reputation by trying to do hard things well.
- He headed Seattle to hire the best computer geniuses as his employees. Started in a garage with a few employees, later expanded to a two bedroom house equipped with 3 Sun Microstation. In today’s date, a new crystal dome headquarters of Amazon is under construction in Seattle.
- Observing the towering surge in the number of internet users in the early 90s Jeff left his job and concentrated on online sales of the books as they can be easily catalogues. The outcome of the idea was unparalleled, within two months sales reached almost $20,000 per week.
The best customer service is if the customer doesn’t need to call you, doesn’t need to talk to you. It just works.
- Core Values: He says “Our vision is to be the world’s most customer-centric company; to build a place where people come to find and discover anything they might want to buy online.” Customer satisfaction, frugality, etc. are his top priorities.
- Amazon’s diversification in various other sectors of products like electronics, clothes, etc. harnessed stupendous profits for Amazon. Yearly sales rocketed from $500,000 in 1995 to $17 billion in 2011.
- The introduction of Kindle – a digital book reader in 2007 which recorded a 38% sales growth of Amazon and later to compete with the Apple IPad market he launched Kindle Fire in 2009. Later in 2012 Launched Amazon Studios for the development of TV shows and feature films. He was named the ‘Businessperson of the Year’ in 2012 by Fortune Magazine.
- He is the lowest paid CEO’s in the USA with $81,840. He has acquired Zappos at $1.2 billion and the most famous acquisition The Washington Post for $250 million in 2013.
- He forbids travel by the helicopter after his near death experience. PowerPoint presentations are a big no-no for Jeff to emphasize creativity and critical thinking over the stats.
- Bigger isn’t always better: Jeff believes in a ‘Two Pizza’ philosophy; that is, a team should be small enough to feed with only two pizzas and the team should be limited to five to seven members only.
- For cost saving in the early days, the desk was made from cheap doors. The ‘Door Desk Award’ is established to encourage the ideas and out of the box thinking.
- Awards and Recognition: Received Honorary Doctorate in Science and Technology from Carnegie Mellon University in 2008. In 2011 received an innovation award from the Later in 2012 National Retailer named him Retailer of the year.
You don’t choose your passions. Your passions choose you
The post is a part of a B’day Series where we celebrate the birthday of renowned personalities from Tech Industry, very frequently. The series includes Entrepreneurs, C-level Executives, innovators or a renewed leaders who moved the industry with his exponential skill set and vision. The intent is to highlight the person’s achievements and touch base the little known, but interesting, part of his life. You can see the list of all earlier celebrated tech personalities, including Mark Zuckerberg, Marissa Mayor, Sean Parker, Andy Rubin, Julian Assange, Sir Richard Branson, Sergey Brin by following this link or subscribe to your daily newsletter.