Amazon.com Inc. AMZN founder Jeff Bezos shared insights into his success his approach to achieving massive success.
What Happened: Earlier this week, in an interview at the New York Times DealBook Summit, Bezos was asked about his confidence in building large-scale companies like Amazon and Blue Origin.
Bezos is currently the world’s second richest person, according to the Bloomberg Billionaires Index. His net worth currently stands at $240 billion, having increased by $63.4 billion in 2024 till date.
While responding, he explained that it is common for people to overestimate risks and underestimate opportunities.
Bezos advised entrepreneurs to counteract this tendency by recognizing that perceived risks might not be as significant as they seem, while opportunities could be more substantial than anticipated.
He continued saying, “You say it’s confidence, but maybe I’m just accepting that human bias and trying to compensate against it.”
The Amazon founder also made another observation, saying, “The second thing I would point out is that thinking small is a self-fulfilling prophecy.”
Simply put, he meant to say that if a person believes they can only accomplish small things, they’ll act in ways that make that belief come true.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why It Matters: During the interview, Bezos also expressed optimism about Donald Trump’s second term, highlighting the potential for reducing regulations. “We do have too much regulation in this country,” he stated while showing willingness to assist in streamlining rules.
He also addressed America’s national debt crisis, advocating for a growth-oriented approach to spending cuts. Bezos spoke about the need to boost GDP growth to 3-5% annually while maintaining slower debt growth.
In the interview, Bezos also revealed that he is dedicating significant time to ensure Amazon remains a leader in AI.
“My heart is in Amazon, my curiosity is in Amazon, and my fears are there and my love is there,” he stated, adding. “I’m never going to forget about Amazon. I’ll always be there to help, and right now, I’m putting a lot of time into it. I can help, and it’s super interesting, so why not?”
Price Action: Amazon’s stock climbed 2.94% on Friday, closing at $227.03, before slipping 0.29% in after-hours trading. Year-to-date, Amazon shares have soared 51.42%, outperforming the Nasdaq 100 index’s 30.7% gain during the same period, according to data from Benzinga Pro.
Amazon’s consensus price target, based on evaluations from 38 analysts, is $238.16, with JMP Securities assigning the highest target of $285 on Nov. 1. Latest ratings from Needham, BMO Capital, and MoffettNathanson average $244.67, implying a 7.8% upside.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
