For its first eight years, Amazon $AMZN didn’t have a single profitable quarter.

Now the Seattle bookseller is worth over $1.2 trillion.

What is “regret minimization”, and how did it guide Jeff Bezos’s decades-long bet on the rise of the internet?

Time for a thread 🧵

In the late 1980s, Jeff Bezos was just one of the hundreds of computer whizzes who migrated to Wall Street.

In the coming years, he would see a once-in-a-lifetime opportunity, and engineer a multi-decade bet on the internet.

What can we learn from Amazon’s early years?

Throughout his career, Bezos loved to dive into new opportunities.

He had a “regret minimization framework” - making decisions to eliminate regret at lost opportunities.

That’s why Bezos left his well-paying job at trading firm D. E. Shaw in 1993 to found Amazon.

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