如何寻找超级成长股？世界首富24封股东信“吐露天机”：现金流比利润更重要(47)

一个公司要成长，需要每一样东西都上规模，包括失败也要达到一定的数量。如果你失败的数量停止增长，你将不能找到足够多发明的方向。亚马逊愿意在一定的范围内试验，有时我们会损失几十亿美元。当然我们不是骑士。我们这样体量公司愿意为顾客和社会承担较大的风险。对我们股东来说，好消息是，一次大的成功不仅可以覆盖多次失败的成本，而且还能赚很多。
As a company grows， everything needs to scale， including the size of your failed experiments。 If the size of your failures isn‘t growing， you’re not going to be inventing at a size that can actually move the needle。 Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures.Of course， we wont undertake such experiments cavalierly。
We will work hard to make them good bets， but not all good bets will ultimately pay out。 This kind of large-scale risk taking is part of the service we as a large company can provide to our customers and to society。 The good news for shareowners is that a single big winning bet can more than cover the cost of many losers。
二十三、2019年：抗击新冠
亚马逊人不分昼夜地将生活必需品放在顾客门前。我们看到对必需品的需求依然很高。这可不是周末峰值的预测，激增的需求没有任何提前预警，这给物流和供应都带来了挑战。我们迅速决定将配送必需日用品、医药和其他重要产品放在第一位。