Amazon’s infamous 1997 letter to shareholders was reportedly co-written by the company’s first CFO, Joy Covey (AMZN)
|08/25/2019||Posted by BusinessMediaguide.Com under General World News||
- In 1997, Amazon issued its first letter to shareholders. It has since become infamous in the tech industry, and core to Amazon’s origin story.
- It laid out Amazon’s long-term goals, and stressed to investors the importance of focusing on long-term value over short-term returns — a strategy since adopted by many major internet companies, from Uber to WeWork.
- The letter is signed by Amazon CEO Jeff Bezos, and has always been attributed to him. But according to reporting by Recode’s Jason Del Rey, the letter may have been co-authored by Amazon’s first CFO, Joy Covey.
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