Innovation

I love this innovation. I love the art of seeing need before it is widely perceived. That’s why Amazon is such a behemoth:

Yes, Amazon is the world’s largest online retailer. It made its name selling books and DVDs and so many other physical goods. But somewhere along the way, as the company worked to build new technologies that would make it easier to run its vast retail operation, Bezos and the rest of the braintrust realized that if Amazon and its partners needed new technology, so did the rest of the world. The result was the Elastic Compute Cloud and various other Amazon Web Services that would make it easier for anyone to run their own operations — whatever those operatons might be. This is how Brown explains why Amazon — of all companies — created the Elastic Compute Cloud, an internet service that has completely changed the face of computing since it debuted a little over six years ago, providing instant access not to an online store or a search engine or an e-mail account, but to a virtually unlimited collection of computing power.

One more bit of genius here:

Jeff (the CEO)  feels that low margins promote customer loyalty and — frankly — inhibit competition. I don’t know what Amazon’s margins are right now, but there are some significant forces on its side.

Read the full-text here.