Not managing your business for this quarter's earnings report? Inconceivable!
But that's what Amazon's doing. Er … not doing … er …
'“If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people,” Mr. Bezos told reporter Steve Levy last month in an interview in Wired. “But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that. Just by lengthening the time horizon, you can engage in endeavors that you could never otherwise pursue. At Amazon we like things to work in five to seven years. We’re willing to plant seeds, let them grow—and we’re very stubborn.”'
It's audacious, and it does have the potential of going south if the future isn't what you are planning for. But to the extent that you're making that future, it's a strategy that leads to long-term success, even if the investment fund managers don't understand it. #ddtb
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Amazon.com and Jeff Bezos Talk Long Term and Mean It
Amazon.com, under its chief, Jeff Bezos, follows a growth-oriented strategy that sometimes disappoints investors who want near-term profit.