If feels like the CE industry is going through a little bit of what we're affectionately calling the Brady Bunch syndrome... except instead of "Marcia, Marcia, Marcia" you're probably screaming "Amazon, Amazon, Amazon!"
Yes, Amazon has collected a lot of accolades and has seemingly infiltrated every corner of the retail market, but that doesn't mean they have a perfect track record. In fact, Amazon CEO Jeff Bezos has a pretty light-hearted philosophy on failing.
“I’ve made billions of dollars of failures at Amazon.com," Bezos said in a Business Insider interview. "None of those things are fun. But they also don’t matter.”
“What really matters is, companies that don’t continue to experiment, companies that don’t embrace failure, they eventually get in a desperate position where the only thing they can do is a Hail Mary bet at the very end of their corporate existence,” Bezos added.
So, if you are going to fail, fail fast and move on. Don't get caught up in mistakes and failures because everyone makes them.
And if you want to feel better about your mistakes, click the red bar to see 8 of Amazon's failures and who beat them to the punch.
“We are not addressing a customer pain point particularly better than anyone else,” the company said on its site in a (now removed) section that explains how WebPay works. “We’ve learned a great deal about how and when customers want to send money and will look for ways to use these lessons in the future.”
Who beat them? PayPal, and to a new extent, Venmo.