You have no experience.
You’ve never started a company.
You’ve never had a full time job.
Nike is going to kill you.
You’re a kid.
You don’t have technical skills.
You shouldn’t build hardware.
Apple is going to kill you.
You can’t build hardware.
You can’t measure heart rate non-invasively.
Athletes don’t care about recovery.
Under Armour is going to kill you.
It won’t be accurate.
You don’t listen.
You’re an ineffective leader.
You can’t recruit great talent.
You’re going to have to pay every athlete.
You can’t measure sleep non-invasively.
It’s too expensive to research.
Athletes are a small market.
The product costs too much to make.
The product costs too much to sell.
Your valuation is too high.
Consumers aren’t going to want it.
Hardware is too hard.
You should measure steps.
Fitbit is going to kill you.
You can’t build a marketing engine.
You can’t raise enough money.
You need a real CEO.
Google is going to kill you.
You can’t be a subscription.
You can’t build a brand.
You can’t do consumer in Boston.
Your valuation is too high.
You shouldn’t make accessories.
You shouldn’t make apparel.
Lululemon is going to kill you.
You can’t predict Covid.
Stay in your niche.
You are going to run out of money.
You can’t build a health platform.
Amazon is going to kill you.
You can’t measure blood pressure.
You can’t get medical approvals.
The market is too small.
You don’t understand AI.
The market is too competitive.
It won’t work internationally.
The supply chain is too complicated.
You can’t build an AI.
You can’t raise enough money.
It’s too competitive.
Healthcare isn’t going to want it.
…
Just keep going ✌️
Jeff Bezos explains why he didn’t take additional equity building Amazon
Jeff is asked why he only paid himself $80,000 per year and never took additional equity during his tenure as CEO of Amazon. He responds:
“I asked the comp committee of the board not to give me any comp. My view was I was a founder. I already owned a significant amount of the company, and I just didn’t feel good about taking more. I felt I had plenty of incentive. I owned more than 10% of the company, and earlier — before it was diluted by various things — more than 20% of the company. I just felt how could I possibly need more incentive?”
Jeff continues:
“Most founders own big chunks of the company. They’re more like owner-operators. The way they increase their wealth is not by getting more equity. They just want to make the equity they have more valuable. And so I just would have felt icky about it. And I’m actually very proud of that decision.”
Jeff is especially proud of how much wealth he’s created for other people:
“Somebody needs to make a list where they rank people by how much wealth they’ve created for other people — instead of the Forbes list where it ranks you by your own wealth. Amazon’s market cap is $2.3 trillion today. I own about $200 billion-ish of it. So if you take $2.3 trillion and subtract out the piece I kept for myself, then I’ve created something like $2.1 trillion of wealth for other people. That should put me pretty high on some kind of list. And that’s a better list — how much wealth have you created for other people?”
Video source: @nytimesevents (2024)