What is Jeff Bezos' annual letter?

Jeff Bezos' annual letter to shareholders is a detailed communication in which the former CEO of Amazon reflects on the company's progress, strategic direction, and long-term vision. These letters cover various topics such as financial performance, operational achievements, and strategic priorities, emphasizing long-term thinking and customer obsession 1 2.

Historically, Bezos has used these letters to address significant events and challenges. For instance, in his 2000 letter, Bezos discussed Amazon's resilience despite a significant drop in stock value during the dot-com crash, showcasing the company's growth in customer base and sales 2. He consistently highlighted the importance of focusing on the long term and prudent spending, drawing from lessons learned from other successful businesses 3.

The letters also underscore Amazon's continuous innovation, customer-centric approach, and the company's relentless drive to create lasting value. Bezos' first letter in 1997 laid the foundation by stating Amazon's goal to create an enduring franchise and focus on customer value, which has been a recurring theme in subsequent letters 1 4. His advice on maintaining one's distinctiveness and avoiding conformity is another standout element in these communications 5.

These letters give an inside look into Bezos' mindset and are often recommended as essential reading for understanding the principles behind Amazon's success 5.