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While I generally agree that incompetence explains a lot of decisions and, more specifically, the need for exponential returns explains a lot of VC decision mak

While I generally agree that incompetence explains a lot of decisions and, more specifically, the need for exponential returns explains a lot of VC decision making, we’re talking about Amazon here. They’re one of the most long term oriented companies in the world. I’m not sure if you’re aware of this, but Jeff Bezos spent tons of his own money to build a clock that is designed to work continuously for 10,000 years. And Amazon’s trajectory has been an abject lesson in long term thinking.

CharlesColeman 7y ago
> While I generally agree that incompetence explains a lot of decisions I'm not talking about incompetence at all. > They’re one of the most long term oriented companies in the world. That still doesn't change anything. More information or a very long term focus isn't going to make someone see that being a successful #2 or #3 player in a market isn't a failure.
- toasterlovin 7y ago
  What I'm saying is that an extremely competent company decided that an opportunity wasn't worth pursuing. Are you seriously arguing that you have better insight into how Amazon should run their business than they do? Despite the fact that you have no information about what their prospects were other than whatever tiny morsels were publicly known? Has it occurred to you that there is non-public information that is informing their decision?