Jeff Bezos saw the stat that internet usage was growing at 2,300% a year, and found a business that

Jeff Bezos saw the stat that internet usage was growing at 2,300% a year, and found a business that made sense in the context of that growth.

He then decided that books were best to sell first as there were ~3 Million individual titles to choose from.

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economicarchive

2024-03-16 06:01:14

another who are you

i'm jeff bezos

and what what is your claim to fame

and the founder of amazon dot com

where did you get an idea for amazon that

well three years ago i was in new york city working for quantitative hedge fund

when it came across the startling statistic the web usage was going twenty three hundred percent a year

so i decided i would

try and find a business plan that made sense in the context of that growth

and i picked books as the first best product to sell online which making a list like twenty different products that you might be able to sell

books were great as the first best because books are incredibly unusual in one respect and that is that there are more items in the book category and there are items in any other category by far

music is number two they're about two hundred thousand active music cds at any given time

but in the book space and more than three million different books worldwide active and print any given time across all languages

what more than one and a half million in english alone

you have that many items could literally build a store online couldn't exist any other way and that's important right now because the web is still an infant technology basically right now if you can do things using more traditional method you probably should do them using the more traditional methods

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