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This led Bezos to create his famous "Regret Minimization Framework": Imagine yourself at 80, looking back at life: "Would you regret this decision?" Here's how Bezos explains it:

90,976 views • 1 year ago •via X (Twitter)

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Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

This is Jeff Bezos’s favorite book. He’s been rereading it for 25 years straight, and it inspired his most famous decision-making model. Here are the 7 lessons from "The Remains of the Day" that helped him build his $200B+ Amazon empire: 🧵

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

In 1987, Bezos discovered "The Remains of the Day" by Kazuo Ishiguro. The story of a butler's lifetime of regret struck him like lightning. It would later become the foundation of Bezos's entire philosophy:

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

The book follows Stevens, an English butler who sacrificed everything for "professional dignity." But in his final years, he realizes a devastating truth: • His dignity was a prison • He never lived for himself • His whole life was spent in fear

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

This revelation shook Bezos to his core. At 30, he was the youngest Senior VP at D.E. Shaw: • Making $1M/year • On track to be partner • Living the Wall Street dream But something felt off:

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Dickie Bush 🚢1 year ago

That's when Bezos noticed internet usage growing 2,300% per year. He faced a choice: • Stay in his golden handcuffs • Risk everything on the internet The butler's story of regret haunted his decision.

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

The answer became crystal clear. Just like Stevens the butler, playing it safe was the riskiest move of all. This insight became the foundation for 7 principles that would transform Amazon:

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Dickie Bush 🚢1 year ago

Lesson 1: Make decisions through the lens of your 80-year-old self Most optimize for 2-3 years ahead. But Bezos optimized for 40 years out: • AWS took 10 years to profit • Prime was mocked for years • Kindle was called "Amazon's iPod of reading"

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

Lesson 2: Professional dignity is a trap Stevens wasted his life maintaining an image. Bezos embraced being misunderstood: • Left Wall Street at its peak • Ignored quarterly profits • Reinvested everything into growth

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

Lesson 3: Move with urgency and intensity Stevens realized too late that time was his scarcest resource. This birthed Amazon's "Day 1" philosophy: • Make quick decisions • High-velocity experimentation • Never waste a day

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Dickie Bush 🚢1 year ago

Lesson 4: Emotion drives the biggest breakthroughs Stevens suppressed his emotions, leading to regret. Bezos channeled emotion into: • Customer obsession • Long-term thinking • Building trust Logic plans. Emotion executes.

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Dickie Bush 🚢1 year ago

Lesson 5: The "safe path" is often the riskiest Stevens never questioned his role as a butler. Bezos questions everything: • Traditional retail • Book publishing • Cloud computing • His own success Growth lives outside your comfort zone.

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

Lesson 6: Build reflection into your system Stevens only reflected at life's end. Bezos built reflection into Amazon's DNA: • Silent reading in meetings • December book rereading ritual • 6-page memos, not PowerPoints Read more about it here:

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

Lesson 7: Study timeless principles Every December, Bezos rereads "The Remains of the Day" to remember: • Move fast • Think long-term • Embrace emotion • Question everything • Don't live with regret • Make time for reflection

Dickie Bush 🚢's profile picture
Dickie Bush 🚢1 year ago

These lessons shaped how I think about building my own digital business. But here's what most people don't know: I made my first $10,000 on the internet as a ghostwriter. This ultimately helped me escape the Wall Street rat race.

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Dickie Bush 🚢1 year ago

Want to build your own digital business through writing? Become a Premium Ghostwriter in 5 steps here:

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Dickie Bush 🚢1 year ago

That's it! Interviews where these snippets were taken from are here: Highly recommend picking up the book, too:

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Dickie Bush 🚢1 year ago

Thanks for reading! If you enjoyed this, follow @dickiebush for more posts on digital writing and digital businesses. Then, I'd appreciate it if you jumped back to the top and reposted the first tweet to share it with others:

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Mammoth Nation1 year ago

President Trump just survived ANOTHER assassination attempt.

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Jeff Bezos explains how he decided to quit his job and start Amazon At 30 years old, Jeff Bezos had great Wall Street job working at the hedge fund D.E. Shaw. When he told his boss David Shaw about his idea to start an internet book store, David replied: “I think this is a good idea, but it would be an even better idea for somebody who didn’t already have a good job.” That made logical sense to Jeff, but he ultimately decided that the best way to make a very personal decision like this was to project himself forward to age 80: “When I’m 80 years old, I want to have minimized the number of regrets that I have. I don’t want to be 80 years old, in a quiet moment of reflection, thinking back over my life and cataloging a bunch of major regrets.” And Jeff believes that our biggest regrets are acts of omission: “It’s paths not taken that haunt us. We wonder what would have happened: I loved that person and I never told them, and then they married somebody else.” Once Jeff thought about it this way, the answer was immediately obvious to him: “I knew that when I’m 80, I would never regret trying this thing that I was super excited about and failing. If it failed, fine. I would be very proud of the fact when I’m 80 that I tried. And I also knew that it would always haunt me if I didn’t try.” Jeff believes this regret-minimization framework is a useful lens for any important life decision. Source: Summit (Nov 2017)

Startup Archive

89,277 views • 28 days ago

A mental model everyone should know: The Regret Minimization Framework. This is how Jeff Bezos used this model to decide to start Amazon: I went to my boss and told him, "I'm going to go do this crazy thing — I'm going to start this company selling books online." This is something I had already been talking to him about in a more general context, and he said, "Let's go on a walk." So we went on a 2-hour walk in Central Park in New York City. The conclusion of that was, he said, "This actually sounds like a really good idea to me, but it sounds like it would be a better idea for somebody who didn't already have a good job!" He convinced me to think about it for 48 hours before making a final decision. So I went away and was trying to find the right framework to make that kind of big decision. I had already talked to my wife about this, and she was 100 percent supportive, saying, "You can count me in – whatever you want to do." It's true, she had married this guy with a stable career and path, but she was 100 percent supportive. So it was really a decision I had to make for myself. The framework I found, which made the decision incredibly easy, was what I called — only a nerd would call — a regret minimization framework. I wanted to project myself forward to age 80 and say, "I'm looking back on my life, I want to have minimized the number of regrets I have." I knew that when I was 80, I was not going to regret having tried this. I was not going to regret participating in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn't regret that. But I knew the one thing I might regret is not having ever tried. And I knew that would haunt me every day. When I thought about it that way, it was an incredibly easy decision. If you can project yourself to age 80 and think, "What will I think at that time?" it gets you away from some of the daily pieces of confusion. I left this Wall Street firm in the middle of the year, and when you do that, you walk away from your annual bonus. That's the kind of thing that in the short-term can confuse you, but when you think about the long-term, you can really make good life decisions that you won't regret later. *** Summary Ask yourself: in X years, will I regret not doing this? • If Yes → DO IT! • If No → Don't bother. This can apply to any decision: • Should I switch jobs? • Should I start my dream business? • And more... *** Takeaway: Optimize for Asymmetric Upside • Record content (podcast, video) • Write content (book, blog) • Go to a cocktail party • Move to a big city • Invest in startups • Go on first dates • Build in public • Start a biz • Tweet Shoot. Your. Shot. Life is too short not to do so. *** That's a wrap and I hope you found this helpful. If you found value in this post: 1. Follow me Arjun Mahadevan (Mr. LLC 🇺🇸) for more. 2. Re-post this, if you can, to share this mental model with a friend and to remind them to: Shoot. Your. Shot. Life is too short not to do so.

Arjun Mahadevan (Mr. LLC 🇺🇸)

25,577 views • 2 years ago