In the second episode on the series on Amazon Smbhav, we saw Jeff Bezos, Founder and CEO of Amazon, share his ideas on entrepreneurship, his take on the importance of failures, and the secret of Amazon’s success.
With 51 percent annual revenue growth, ecommerce in India is expanding at a rapid pace, According to some estimates, it could potentially add a whopping 500 million new users in the next five years. Tech innovation is crucial for such ambitious growth, and Amazon Smbhav, a two-day event for small and medium businesses held at the Jawaharlal Nehru Stadium in New Delhi on 15 and 16 of January, provided a platform where SMBs could learn to leverage the immense potential in their sector by embracing technology.
Jeff Bezos, shared his ideas in a freewheeling, and enlightening, fireside chat with Amit Agarwal, Senior VP & Country Head of Amazon India. Walking on to the stage to warm applause from the 3600 SMBs gathered in the auditorium, Bezos charmed the audience, saying, “I love India. Everytime I come here, I feel very alive.”
Recalling the time when he started Amazon, Bezos said, ““It's hard to remember, but 25 years ago, Amazon was a tiny little company. And you know, not only was I driving the packages to the post office myself, but I was wrapping them and, and preparing them and, you know, doing all the things that small entrepreneurs do.” Answering Amit’s question on why Amazon is the best place to experiment and fail at, Bezos said, “See if you know in advance that something is going to work, then it is not an experiment. So, you want to be doing many experiments per unit time, as many experiments per day, per week, per month, per year as you can because that's how you get innovation. Innovation is all about maximizing the rate of experimentation. And so you have to organize to be able to experiment and you have to have a culture that supports failure. Amit and I together, we've been working together for two decades and I have failed together so many times and that is that is, it's another way of learning.”
Bezos also spoke at length about his passion for space travel and his work with Blue Origin. He explained, “We have to take care of this planet, and if we want to continue to grow as a civilization, we need a dynamic, entrepreneurial civilization with space entrepreneurs that will use the resources in our solar system. Blue origin wants to reduce the cost of access to space by a large magnitude. And we need reusable rockets to do that.”
Bezos also reaffirmed Amazon’s pledge towards sustainability. He said, “Amazon is going to be 100% sustainable in electricity by 2030. Amazon India will eliminate all plastic packaging by June 2020. Our partners are also helping us reach our goals, so it has a multiplier effect.”
Bezos signed off with a prediction. He said, “I predict that the 21st century is going to be the Indian century. India's dynamism, energy, and growth make it special.”This is a partnered post