Other “Jeffisms,” recorded by the FBA team in their annual OP1 planning session with Bezos, further shaped their perspective. Among his greatest hits, recorded in a memo that was later passed to me: “Focus on lowering cost structure. It is better to have low costs and then charge to maximize your value versus charging to cover costs.” “Having a stupid rate card equals stupid things happen. Rate cards must be equal to the value.” “We do not charge more because we can’t figure out how to make it cost less. We invent to make it cost less.” “We should be able to fulfill 100% of the 3P business. I
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