Jeff Bezos, 2016 Amazon Letter to Shareholders, emphasis mine Avoiding Day 2: The Default Outcome Here’s a starter pack of essentials for Day 1 defense: customer obsession, a skeptical view of proxies, the eager adoption of external trends, and high-velocity decision making. I don’t know the whole answer, but I may know bits of it. There will be many elements, multiple paths, and many traps. Such a question can’t have a simple answer. I’m interested in the question, how do you fend off Day 2? What are the techniques and tactics? How do you keep the vitality of Day 1, even inside a large organization? An established company might harvest Day 2 for decades, but the final result would still come. To be sure, this kind of decline would happen in extreme slow motion. Followed by excruciating, painful decline. I work in an Amazon building named Day 1, and when I moved buildings, I took the name with me. I’ve been reminding people that it’s Day 1 for a couple of decades. That’s a question I just got at our most recent all-hands meeting. And so for Bezos, it’s always Day 1 at Amazon. Day 2 companies let stasis to take hold they soon find themselves irrelevant, followed by a slow death.
The letter compares two types of organizational cultures (“Day 1” and “Day 2”), with nature’s biological cycle of growth and decline acting as the business metaphor.ĭay 1 companies are healthy and full of life. basketball teams, charities, universities- you name it).
Bezos’s letter contains helpful ideas for not only businesses, but any organization (e.g. While the letter focuses on Amazon’s ideal culture (think: “ How we do things around here”), its relevance goes beyond business. In 2016, Amazon CEO Jeff Bezos published a 4-page letter to shareholders, packed with his insights on business.
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