“Forget about this. We can’t be thinking about how Barnes & Noble has so much more in the way of resources than we do…Yes, you should wake up every morning terrified with your sheets drenched in sweat, but not because you’re afraid of our competitors. Be afraid of our customers, because those are the folks who have the money. Our competitors are never going to send us money.”
Jeff Bezos in an all-hands meeting with Amazon’s 125 employees after at least one prominent tech pundit predicted Amazon would get wiped out when Barnes & Noble launched its website in 1997, quoted in How Amazon Innovates: Lessons in Strategy for Microsoft and Others. B&N had 30,000 employees and $3 billion in annual revenue compared to Amazon’s $60 million at the time.

Notes

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