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Every year around the same time, Jeff Bezos delivers his annual letter to Amazon shareholders. Thousands, even millions, are trying to discern his wisdom.
This year was marked by the letter number 23. At present, Bezos has written 44,000 words.
That's enough for a little book. So I took the full text of the 23 letters over the years, combined them into one document and directed the file via a word cloud generator (which also revealed the frequency of the words).
The takeaway food is superb. Here are some of the key things I've found. (I think I like the most first, second and last articles.)
Customers, customers, customers
If there is one truism that I expected to find in these letters, it is the repeated warning of Bezos that successful businesses – or at least Amazon – should be obsessed with their customers, not their competitors. The figures corroborated this phenomenon to a rather surprising degree.
"Customer" (or "customers") appears 443 times, making it by far the most common word in all 23 letters (omitting common but uninteresting words such as "and" or "the" for example). For comparison, the word "Amazon" appears 340 times.
Statistically, you can literally choose any random word in this document. There is a 1% chance that the chosen word is "customer".
- "From the beginning, our goal has been to offer our customers convincing value, "wrote Bezos in 1997.
- "Obsess over customers: our commitment continues, "he wrote in 2002.
- From 2008 onwards: "In this turbulent global economy, our fundamental approach remains the same – stay flat-headed, focus on the long term and stay obsessed with customers.
- 2013: "We are fortunate to have a great inventive team and a pioneering patient, obsessed with the customer Culture…"
The competition & # 39;
In these shareholder letters, the term "customer" refers to "competition" ying is of yang.
"Competition" and its derivatives appear only 28 times out of 23 letters. And many of them do not really refer to competitors; they are a variation of "the competitive advantage of Amazon is …"
This is not entirely true to say that the conclusion is that you should not pay attention to competitors. In fact, Bezos threw cold water on this idea, but that 's not what he says:
As readers of this letter know, our energy at Amazon comes from the desire to impress customers rather than the zeal of the best competitors. We do not determine which of these approaches is most likely to maximize the success of the business.
There are many advantages and disadvantages to both and many examples of high-performing, competitive companies. We work to pay attention to and draw inspiration from competitors, but it is clear that the customer-centric method is now a key element of our culture.
But again, the word count tells an interesting story: 443 to 28.
Prime, AWS, Kindle and Alexa
These are not big surprises because they are giant products for Amazon.
But their frequency – "prime" appears 131 times, "AWS" 81 times, "Kindle" 66 times, and Alexa and Echo for a total of 34 rhymes – is interesting.
This is particularly interesting given that Prime was only introduced in 2005, that AWS was deployed in 2006, that the Kindle was introduced in 2007 and that we have heard about of Alexa and Echo at the end of 2014.
So, these are four of the most used words that you will find in the 23 shareholder letters, but they do refer to products that did not even exist for the first half or so of the company.
People
Here we will combine instances of words like:
- team (62)
- people (54)
- employees (39)
- location (10)
- associated (9)
Everything works at 176 instances. Almost every company I write about deals with how "our employees are our true asset".
shareholders
I mean, these are investor letters, right? Shareholders and shareholders receive a total of 53 mentions. Add investor and investors, and there are eight left. I do not know what to think about it, except that in the letters, there is always this tendency to sell investors while being very aware of the fact that Amazon does not really need to sell investors.
Antitrust
The latter is my favorite because I am on a tear about it recently: antitrust.
I think that Amazon recognizes antitrust as the number 1 existential threat to the company. It's not that one day Amazon could decline. Half a century ago, it would have seemed unwise to think that Sears would go anywhere one day; a quarter of a century ago this summer, the idea of Amazon itself seemed unlikely.
Yet, how often is the antitrust mentioned in shareholder letters? Zero. Not once.
I can not predict the future. But I'm sure Amazon would like this strike to continue.
Every year around the same time, Jeff Bezos delivers his annual letter to Amazon shareholders. Thousands, even millions, are trying to discern his wisdom. & Nbsp;
not
This year was marked by the letter number 23. To date, & nbsp; Bezos & nbsp; wrote 44,000 words.
not
That's enough for a small book, so I took the full text of the 23 letters over the years, combined them into one document and ran the file into a word cloud generator (which also revealed the frequency of words).
not
The takeaway food is superb. Here are some of the key things I've found. (I think I like the most first, second and last articles.)
not not
Customers, customers, customers
not
If there is one truism that I expected to find in these letters, it is that Bezos repeatedly told him that successful companies - or at least Amazon - should be obsessed with their customers and not by their competitors. The figures corroborated this phenomenon to a rather surprising degree.
not
"Customer" (or "customers") appears 443 times, making it by far the most common word in the 23 letters (omitting common but uninteresting words such as "and" or "the" for example). & Nbsp; For comparison, the word "Amazon" appears 340 times.
not
Statistically, you can literally choose any word in this document. There is a 1% chance that the chosen word is "customer".
not
t
- "From the beginning, our goal has been to offer our customers convincing value, "wrote Bezos in 1997.
t
- "Obsess over customers: our commitment continues, "he wrote in 2002.
t
- From 2008 onwards: "In this turbulent global economy, our fundamental approach remains the same - stay flat-headed, focus on the long term and stay obsessed with customers.
t
- 2013: "We are fortunate to have a great inventive team and a pioneering patient, obsessed with the customer Culture..."
not
The & amp; competition & apos;
not
In these shareholder letters, the term "customer" refers to "competition" ying is of yang.
not
"Competition" and its derivatives appear only 28 times out of 23 letters. And many of them do not really refer to competitors; they have a variation of "Amazon's competitive advantage is ..."
not
It is not entirely true that you must remember that you must not pay attention to competitors. & Nbsp; In fact, Bezos threw cold water on this idea, but that's not what he says:
not
As readers of this letter know, our energy at Amazon comes from the desire to impress customers rather than the zeal of the best competitors. We do not determine which of these approaches is most likely to maximize the success of your business.
not
There are many advantages and disadvantages to both and many examples of high-performing, competitive companies. We work to pay attention to and draw inspiration from competitors, but it is clear that the customer-centric method is now a key element of our culture.
not
But again, the word count tells an interesting story: 443 to 28.
not
Prime, AWS, Kindle and Alexa
not
These are not big surprises because they are giant products for Amazon.
not
But their frequency - "prime" appears 131 times, "AWS" 81 times, "Kindle" 66 times, and Alexa and Echo for a total of 34 rhymes - is interesting.
not
This is particularly interesting because Prime was introduced in 2005, AWS was rolled out in 2006, the Kindle was introduced in 2007 and we heard about Alexa and Echo at the end of 2014.
not
So these are four of the most used words you'll find in the 23 letters to shareholders, but they refer to products that did not even exist during the first half of the company or more. & Nbsp;
not
People
not
Here we will combine occurrences of words such as:
not
t
- team (62)
t
- people (54)
t
- employees (39) & nbsp;
t
- location (10)
t
- associated (9)
not
All this corresponds to 176 & nbsp; forums. Almost all the companies I have written about are talking one way or the other about how "our employees are our true asset". & Nbsp;
not
shareholders
not
I mean, these are investor letters, right? Shareholders and shareholders receive a total of 53 mentions. Add investor and investors, and there are eight more. I do not know what to think about it, except that the letters still have this current selling of investors while being very aware of the fact that Amazon does not really need to sell investors.
not
Antitrust
not
The latter is my favorite, as I said recently: antitrust.
not
I think that Amazon recognizes antitrust as the number 1 existential threat to the company. It's not that one day, Amazon could decline. Half a century ago, it would have seemed unwise to think that Sears would go anywhere one day; a quarter of a century ago this summer, the idea of Amazon itself seemed unlikely.
not
Yet, how often is the antitrust mentioned in shareholder letters? Zero. Not once.
not
I can not predict the future. But I am convinced that Amazon would like this strike to continue.
not
not
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