For many years, bill gates has been worlds richest man, but In summer of 2017, Amazon’s
stock price surged and made Jeff Bezos the richest man in the world, surpassing Gates.
But it didn't last long because by the end of the day, Gates claimed back the title and
kicked down Jeff. But, Jeff didn't give up and and in few month
his net worth crossed 100 billion dollars and now he dominates the Forbes billionaire
list!
It wasn’t easy for Jeff to do that, he had to give up and risk a lot in order to be where
he is today!
After graduating with a computer science degree, Instead of getting a job in the tech industry
like everyone else would do, he headed directly to wall street, because thats where money
is hiding. It didn't take him long to stand out from
the crowd, just at the age of 26 he became the youngest vice president at Bankers Trust,
and in less than 2 years, he became the youngest Senior vice president at D E Show&Co.
Pretty impressive, right?! But that was just the beginning, because he
discovered the most important resource of his time - the internet! which was the future!
He quickly realised the potential of the internet and did what every other self made billionaire
usually do, he quit his job and started his company in the garage!
And thats how one of the biggest companies was born - Amazon!
abandoning your high paying job at wall street for the sake of selling books wasn’t really
a great idea, but Jeff had his own vision for amazon!
Remember, in 1990s, people just heard about the internet and didn't really know what is
it exactly and how does it works, only strong enthusiasts used it!
The idea of selling on internet was pretty crazy! and Jeff was aware of that. So he started
listing down all the possible products that could be sold online, and books seemed like
the best option! Because books are the same everywhere, they
don't smell, they don't expire and they are always in demand!
In 1994, amazon.com was registered, in just few month, amazon crossed all the expectations.
When it was featured at one of the famous websites at its time which some of you might
still remember - Yahoo, sales absolutely skyrocketed because of that! and orders came from all
around the world!
But books were just the beginning, because Jeff had far bigger plans for amazon. In 1998,
amazon moved to DVDs and CDs and in less than a year, it expanded to toys and electronics.
The company was growing at a much faster speed than anyone could possibly expect and in the
year 2000, sales surpassed 1.6 billion dollars. And the world took notice, just a year prior
to that, Times magazine even selected Jeff as the man of the year! and his net worth
reached 10 Billion dollars.
But things weren’t as great as they sounds. In fact, Amazon almost went bankrupt. when
the dot com bubble burst in 2001, investors started pulling out their money because internet
companies looked pretty suspicious, since most of them were simply overvalued. As a
result of that, it was almost he end of the amazon. the stock price dropped significantly
from 107 dollar to just 7 dollars, but Jeff didn't give up. Amazon quickly started cutting
cost, it fired more than 1300 employees in order to survive. And as the market started
recovering, amazons stock price started rising again and the company expanded!
amazon web services was launched, amazon prime and so on. Amazon quickly started dominating
every industry and it became one of the biggest companies in the world, valued at more than
700 billions dollars at the time of this video. and it seems that its only going to grow.
It started Amazon studios to create movies and tv shows, it acquired audible (the largest
producer and retailer of audio books), IMDb and the list goes on.
But it seems like Jeff’s ambitious do not stop there and he follows his own advice - NEVER
SETTLE. Because now he is focused on challenging Elon Musk to dominate the Space.
Of course no one can be compared to Elon Musk when it comes to space, but Blue Origin had
some impressive results and it seems like Blue Origin will soon start selling tickets
to space!
Weather you like him or not, Jeff is one of the greatest entrepreneurs of all time. Despite
the fact that his net-worth is around 120 billion dollars, it doesn’t seems like he
is willing to slow down. As Jeff Bezos himself said that there was
70% chance that amazon would fail but he didn't want to regret at the end of his life, so
he took the risk and did everything possible to make it happen!
Every time you feel demotivated, I want you to look at this picture very carefully, this
is Jeff’s office in 1999, he wasn’t distracted by wealth or a luxury life, he was clear about
his vision, and he was hustling day and night to make it happen!
There are a lot of things that can be learnt from Jeff but what I think matters most is,
no matter what you do, there is a risk, Jeff could continue working as a senior vice president
but he wouldn’t be the man he is today! But if amazon failed, he would have started
again! So if you have a great idea and a practical
plan and you are willing to put hard the work, keep in mind that you still will have to risk
something!
And now its your turn, what do you think? What makes Jeff such an extraordinary entrepreneur!
Lets me know in the comments below! And as always,
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Thanks for watching and I will see you in the next one