SEC EDGAR Filing·9 APR 2026
Progress Is a Squiggly Line, Not a Straight One
Durable companies don't bet on one straight line — they build the muscle to zig, zag, and start over without losing momentum.
Source document — Amazon 2025 Annual Shareholder Letter · SEC EDGAR · EX-99.1 · AMAZON COM INC · EX-99.1 · filed 2026-04-09 · Accession 0001104659-26-041034
Excerpt · In Andy Jassy's own words
AWS followed lots of squiggly lines, too. The original vision included storage, compute, payments, and human intelligence. Some of those (e.g. storage and compute) became lynchpins in AWS. Others didn't succeed. We didn't initially plan a database service; and when we built one, our first attempt failed to get traction. We went back to the drawing board and built new relational and non-relational database services, which have resonated well and become core to millions of AWS applications.
There's a band I like from New Zealand called 'The Beths,' who've written several excellent records, with thought-provoking lyrics. When their latest album dropped last summer titled 'Straight Line Was a Lie,' it made me think about how prescient that expression is. Most long-term endeavors do not follow a linear straight line, up and to the right. Progress jumps around; it'll zig up, then sometimes stall, or zag down, or force you back to the starting line. That's because the world is complex, and new technology, business model invention, competitors, global issues, or people and cultural shifts can come into play.
We're in the middle of some of the biggest inflections of our lifetime (e.g. AI, robotics, space industrialization, geopolitical and military conflict). And, just as proficient golfers need to be skilled across driving, approach shots, chipping, and putting, durable companies must be adept at managing different elements of inflections.
Wherever possible, invent the next inflections. We try to anticipate what will make customers' lives easier and better every day, and invent the next inflection. Historically, we've successfully done so in areas like Retail, Logistics, AWS, Ads, Kindle, Alexa, and Pharmacy.
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How this surfaced
- Source type
- SEC EDGAR Filing
- Case / record
- SEC EDGAR · EX-99.1
- Citation
- AMAZON COM INC · EX-99.1 · filed 2026-04-09 · Accession 0001104659-26-041034
- Date authored
- April 9, 2026
- License
- Public domain
- Original
- View the primary source →
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