2,300% Per Year
Bezos: In 1994, I came across the fact that web usage was growing at something like 2,300% a year. That was a wake-up call. Many people hadn't heard of the web at that point. This was the time of 28-kilobit modems and dial-up access.
But it was clear there was going to be something there. I realized you could make a bookstore on the web that could hold more books than a physical bookstore could ever hold. Truly universal selection.
Web usage was growing 2,300% a year. You could build a bookstore with truly universal selection.
The Math Problem
Bezos: Books are unique in one respect — there are more items in the book category than in any other category. Millions of books active and in print around the world.
The largest physical superstores only carry about 100,000 to 150,000 of those millions. On the web, you could build something that truly solved a real problem — people can't find some of the books they want. They're very good books, but they may have a very narrow audience.
Millions of books in print. The largest stores carry 100-150K. On the web, you could have them all.
Why Books First
Bezos: My real compass, my real passion was computers. That's how I was involved in the web. But books were the first best product to sell online. As a happy coincidence, I've always been a big reader — but that wasn't the reason we chose books.
We basically built Amazon to make it possible for people to find those hard-to-find books.
My passion was computers. Books were the first best product to sell online.