“Amazon is not too big to fail. In fact, I predict Amazon will fail.”
That’s what Jeff Bezos, CEO and founder of Amazon, said to his staff during an all-hands meeting in 2018.
“Amazon will go bankrupt,” he continued. If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years.”
Bezos is right. The average US public company is dying younger than ever, around age 30, according to Martin Reeves, a strategist who gave a popular TED talk about how to build a company that lasts for 100 years.
Another startling statistic: Reeves says 32% of companies won’t exist 5 years from now, whether they’re acquired or they flat-out fail.
How do you keep a company from dying?
Bezos says his goal is not to keep Amazon from dying, it’s to keep it from dying during his lifetime. To do this, he uses an innovation philosophy dubbed “Day 1.”
I recently gave a talk on Bezos’ Day 1 strategies at an Axel Springer Leadership Summit in Germany. Here’s the playbook Bezos uses to build a company that lasts.
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