Say the name and everyone knows who became the world’s richest man. Amazon founder Jeff Bezos has a fortune of roughly $125 billion US.
He is one of the best role models out there on how to thrive in a digital economy. He understood some of the basic needs since Amazon became public in 1997.
- Obsess about your customers.
- Invest for the long term.
- Focus on delivering the best customer experience.
- Be the lowest price.
- Exploit your network of customers to grow even more.
Mr. Bezos had a dream and in 1999, he wrote,
Our vision is to use this platform to build Earth’s most customer-centric company, a place where customers can come to find and discover anything and everything they might want to buy online.
Today’s data-rich platforms can now match buyers and sellers better with the consumer varying preferences and not just pricing. They can match them individually to their personal taste, timing, and convenience.
Data capitalism can deliver phenomenal services, as Amazon has shown.