Jeff Bezos the center billionaire what
makes a successful entrepreneur good
genes good luck
role models growth as of June 2018 Jeff
Bezos is the wealthiest person on the
planet with a net worth of 134 point 1
billion dollars as the founder and CEO
of Amazon he knows what it takes to
build a business empire from scratch and
may have one particular family member to
thank for his success we'll get more
into that in a bit graduating from
Princeton University in 1986 with a
bachelor's degree in electrical
engineering made computer science
bezos's early career showed few signs of
what was to come
case in point he worked as an investment
banker from 1990 to 1994 possibly one of
the most risk-averse occupations you can
imagine by the age of 30 he worked his
way up to the fourth senior vice
president safe no risk he started in
online bookstore remember folks back
then you had even heard of the Internet
let alone have access to it but Bezos
saw massive potential in this new
technologies at first base those chose
books as his company's prime selling
product not because he was an avid
readers nor because his wife wasn't
published awesome he chose books because
he saw a problem at any given time there
might be 3 million books in print
brick-and-mortar stores are limited
in theory an average store might talk
about 150,000 titles an online bookstore
however could stock the entire three
million-plus
out of print books providing a unique
customer experience and so amazon.com
was born in a garage with orders
initially filled by Bezos himself how in
the face of adversity Amazon managed to
become a global giant is a tale of
resourcefulness
it's the problem-solving competition
from big names like Barnes & Noble
started getting more intense at times
imminent doom seemed just around the
corner in 1997 when Amazon listed on the
Nasdaq it was losing money and valued at
a modest four hundred and thirty eight
million dollars with an M as of February
2018 Amazon has a market cap of seven
hundred and 2.5 billion with a B's basis
solve some of Amazon's problems by
diversifying their products fates in
1998 the company expanded into music
video and consumer goods Bezos pumped
huge amounts of cash into new investment
areas like Amazon Prime and Amazon Web
Services during an Amazon summer retreat
in 2003 some staff members suggested
that the cloud infrastructure amazon.com
is based on could be leased to other
online businesses Bezos holds up Amazon
Web Services as the big payoff for
risk-taking launched in 2006 AWS is now
Amazon biggest cash generator keep in
mind that all of Amazon's operating
profit came from AWS in 2017 some
analysts suggest that without AWS Amazon
and Bezos himself would be worth a lot
less but for Bezos there's another
business that he considers more
important than ecommerce or cloud
computing Blue Origin his space project
like Richard Branson and Elon Musk Bezos
views space colonization as a key to
guaranteeing the future of man time
according to vaso
the solar system can easily support a
trillion humans if we had a trillion
humans we would have a thousand in
Stein's and a thousand Mozart's that's
the world that I want my great
grandchildren's great-grandchildren to
live in a dream or a problem and a
solution from age 4 to 16 the now septa
billionaire spent his summers on his
grandfather's ranch over those years the
young Bezos picked up vital skills from
this key role model when machines and
equipment broke down his grandfather who
lived in a remote area couldn't simply
call someone to come in and prepare it
you figure out how to fix it yourself
says the businessman as a kid I got to
see who's off all these problems and be
a real problem solving a skill that has
served Jeff Bezos throughout his career
and has been a key to his success thanks
for watching this video we look forward
to making a video on your billion-dollar
success story one day don't forget to
click the subscribe button to see how
other billionaires got to where they are
today
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