Jeff Bezos, the world’s richest man, recognized that to reach success, necessary to make mistakes.
The founder of Amazon said in his annual letter to shareholders published on Thursday that the firm learned of their decisions you make a mistake and warned that in the future can occur new failures.
The biggest mistake of the company was a product that had to discontinue in 2015 because it failed to convince consumers.
«While the phone Fire was a failure, were able to learn and accelerate our efforts to build Echo and Alexa», said Bezos.
An error which cost him to Amazon US$ 170 million.
The letter is usually used as a way to publicize the company’s strategy long term.
«Future multi-million dollar failures» in the letter Bezos said the online sales giant will have in the future occasionally «multi-million dollar failures», product of the commercial experiments that must pass to keep the leadership.
«We will work hard to be good bets, but not all good bets will finally pay dividends,» he said.
«We cannot foresee with certainty will be like those programs, much less whether they will be successful, but have been driven with heart and intuition, and fed with optimism», said Bezos.
Amazon has plans to expand its operations to new sectors such as health, deliveries of products from robotics and space insurance, but has not explicitly confirmed what is the path of investment.
On non-digital sales (i.e. the business through «physical» stores), Bezos said that it will have to «imagine the impossible».
Those stores, which allow consumers to pick up their products and go without having to row in a box, have yielded dividends, added the Chief Executive.
«Raise the minimum wage» Bezos took the letter to challenge their opponents to raise the minimum wage.
«Challenge to our main competitors retailers (already know who I mean!) that equalize the benefits of our employees and our minimum wage of US$ 15, » said Bezos.
«Do it! Better yet, upload it to US$ 16 and challenge us back. It is a type of competition that will benefit everyone.»
Company came up in November of its workers minimum wage to US$ 15 per hour, benefiting about 250,000 employees and around 100,000 seasonal workers.
The decision was announced after several reports in the American press about poor working conditions in the holds of the firm and after that American presidential candidates Bernie Sanders and Elizabeth Warren warned that employees had to rely on food stamps to survive.
Among the main rivals of Amazon in the United States are Wal-Mart and Target.
This last firm, announced last week that would raise the minimum US$ 13 per hour salary, while Walmart ranked it in US$ 11 last year.