The Most Important IP
Bezos: Our most important piece of intellectual property is our brand name. This is very important for anybody who's going to start a company — brands for companies are like reputations for people. Reputations are hard-earned and easily lost.
The most important intellectual property a company can have — for us, it's Amazon. That name. But what it stands for.
Brands for companies are like reputations for people. Hard-earned and easily lost.
You Can't Ask for Trust
Bezos: We've worked very hard to earn trust. You can't ask for trust. You just have to do it the hard way. One step at a time. You make a promise and then fulfill the promise. You say 'we'll deliver this tomorrow' — and then you actually deliver it tomorrow.
If you do that over and over again, ultimately you can instill your company's name with a reputation. Sometimes people talk about brands in this very amorphous way. But for me, I like to think of it as a person — what is the reputation that person has, and how have they earned that reputation?
You can't ask for trust. You make a promise, fulfill it. Do that over and over again.