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Jeff Bezos, founder and CEO of Amazon
Amazon CEO Jeff Bezos has released his latest annual shareholder letter.
In the letter, Bezos stressed the importance of having high standards in running a business. By setting high standards, companies are able to live up to “ever-rising customer expectations,” he said.
“How do you stay ahead of ever-rising customer expectations? There’s no single way to do it – it’s a combination of many things. But high standards (widely deployed and at all levels of detail) are certainly a big part of it,” Bezos wrote in the letter.
Bezos also disclosed for the first time that Prime now exceeds 100 million members worldwide. In 2017 alone, Amazon shipped over five billion items through its Prime service worldwide.
He also said 2017 was the best year for Amazon device sales, with customers buying “tens of millions” of Echo devices.
With regards to Whole Foods, Bezos said the “technical work” is currently under way to bring Prime member benefits to the grocery chain.
The annual letter, which Bezos has published every year since 1997, is widely considered a must-read by business professionals for its rich detail around the Amazon CEO’s management principle and long-term thinking.
You can read the full letter here.
