{"id":4392,"date":"2026-07-28T09:10:03","date_gmt":"2026-07-28T09:10:03","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=4392"},"modified":"2026-07-28T09:10:03","modified_gmt":"2026-07-28T09:10:03","slug":"no-1-on-the-fortune-global-500-amazons-jeff-bezos-on-how-his-garage-startup-became-the-largest-company-in-the-world-by-revenue","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=4392","title":{"rendered":"No. 1 on the Fortune Global 500: Amazon\u2019s Jeff Bezos on how his garage startup became the largest company in the world by revenue"},"content":{"rendered":"
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But three decades later, now that his startup has become an \u201ceverything company\u201d that reportedly delivers as many packages as the U.S. Postal Service; now that the Amazon Web Services (AWS) cloud business powers a third of the internet; and now that Amazon has topped the Fortune 500 and ascended to the No. 1 spot in the Global 500\u2014making it the biggest company in the world\u2014Bezos admitted to Fortune<\/em>: \u201cIt\u2019s not like it\u2019s a complete surprise.\u201d\u00a0<\/p>\n

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And anyhow, Bezos added in April, sitting at that original door-desk in his study in Washington, D.C., bigness was never the point. \u201cI don\u2019t want us to take pride in being big,\u201d Bezos said. \u201cI want us to take pride in servicing customers. And it turns out, if you service customers really well, that will drive growth.\u201d\u00a0<\/p>\n

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\u201cCustomer obsession\u201d has long been a mantra for the 62-year-old Amazon founder. (In fact, he used the phrase 10 times during our conversation.) And with good reason: It\u2019s what propelled the company to the top of Fortune\u2019s<\/em> annual list of the largest companies in the world by revenue, a spot held by Walmart for over a decade. Amazon will likely become the first company to reach $1 trillion in revenue in the next few years.\u00a0<\/p>\n

Bezos, one of the richest people in the world, handed the CEO role to AWS chief Andy Jassy in 2021, but he still serves as Amazon\u2019s executive chair, and he\u2019s often asked about the company\u2019s next big projects. Satellite internet? Advertising solutions? Health care? Yes, yes, and yes.\u00a0<\/p>\n

But the company\u2019s biggest venture by far is a bid to own the future of AI. Amazon devoted $131 billion to capital expenditures in 2025 and estimates that it will spend some $200 billion in 2026\u2014largely on AWS and generative AI. In April, Amazon inked a multibillion-dollar deal with Meta, which will use Amazon\u2019s Graviton chips to support AI initiatives. It has also partnered with Anthropic, agreeing to invest as much as $25 billion in the AI startup, which will purchase more than $100 billion of Amazon\u2019s cloud services.\u00a0<\/p>\n

\u201cA few of our offerings have become durable pillars, things like Marketplace and Prime and AWS,\u201d Bezos said. \u201cWhat I see right now is that our chips business, our silicon business, is lining up to be our next pillar.\u201d<\/p>\n

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If Bezos is right\u2014and his track record suggests he often is\u2014Amazon\u2019s current enormous size could soon look modest.<\/p>\n

Of course, for a company this dominant, there are always risks. In addition to battling Walmart in the retail sector, Amazon faces tough competition in the AI arms race\u2014and there\u2019s no denying that Amazon has some catching up to do.\u00a0<\/p>\n

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Bezos\u2019s decision to step away from the CEO role and focus on his other tech companies created concerns that the founder was taking his foot off the gas at Amazon just as the AI race was starting, said futurist and NYU Stern School of Business professor Amy Webb: \u201cI would be curious to know if the next 10 years of the company is going to be as dramatic and exciting as the past 10 years,\u201d she said.\u00a0<\/p>\n

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With all the big plans ahead, Bezos said he\u2019s also laser-focused on what\u2019s not<\/em> going to change: that foundational ethos of low prices, fast delivery, and a vast selection\u2014an approach that\u2019s just as powerful when applied to chips and servers as it is in the world of books and groceries. It\u2019s what put Amazon on the map in the first place, and what keeps customers coming back.\u00a0<\/p>\n

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\u201cIt\u2019s impossible to imagine a scenario where a customer would say, \u2018Jeff, I love Amazon, I just wish you delivered a little more slowly.\u2019 Or, \u2018I love Amazon, I just wish your prices were a little higher,\u2019\u201d Bezos said. \u201cBecause you can count on those things, you can keep putting energy into them.\u201d<\/p>\n

It may look now like the success of Bezos\u2019s model was a foregone conclusion, but getting investors to take a chance on an online-only store in the early days of the internet was not easy. Before Amazon\u2019s launch in 1995, Bezos recalls having to explain to people what the internet was. He spoke with some 60 investors to raise a million dollars. Twenty-two said yes, with checks of roughly $50,000 each.\u00a0<\/p>\n

Amazon went public two years later, on May 15, 1997, at a price of $18 and a valuation of nearly $440 million. (It\u2019s now valued at $2.6 trillion.) Initially, investors were cautious. A 1999 Barron\u2019s<\/em> cover story titled \u201cAmazon.bomb\u201d questioned whether the startup would ever turn a profit.\u00a0<\/p>\n

\u201cPeople make this comment that if you had bought Amazon at its IPO, you\u2019d be enormously wealthy now. But I think if you had bought Amazon at its IPO and held the stock throughout the entire time, you would\u2019ve been almost completely irrational,\u201d said Evercore ISI analyst Mark Mahaney. \u201cIt was so speculative when it went out. The company, the management team, Jeff Bezos\u2019s prior business experience running a large company: zero.\u201d\u00a0<\/p>\n

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Bezos concedes that Amazon\u2019s trajectory since its launch was improbable, to say the least. \u201cYou could not at that time have predicted the magnitude of change that would occur\u2014and anybody who did predict that magnitude of change would probably have been quickly institutionalized and sent to the mental hospital,\u201d he said. \u201cIt wouldn\u2019t have been credible or believable.\u201d\u00a0<\/p>\n

Amazon didn\u2019t become profitable until the early 2000s, years after expanding its product offerings beyond books. It was the launch of cloudcomputing division AWS in 2006 that changed everything. Today, millions of businesses and governments use AWS cloud infrastructure and services to power everything from streaming videos on Netflix to ordering food on DoorDash. Operating income for AWS reached $45.6 billion in 2025, on revenue that rose 20% to $128.7 billion from the prior year.\u00a0<\/p>\n

Beyond AWS, a string of consumer-facing initiatives extended Amazon\u2019s reach over the next two decades. In 2005 the company launched Prime, a membership offering unlimited two-day shipping that would balloon into a 200-million-subscriber loyalty engine that includes groceries, music, and video. The Kindle debuted in 2007, dragging the publishing industry into the digital age and giving Amazon dominance over the ebook market. Streaming followed in earnest in 2011, when Amazon bundled video into Prime, and by 2013 it had begun producing original series\u2014winning two major Emmys for Transparent in 2015. The company acquired MGM in 2022 for $8.5 billion, instantly turning Amazon into a Hollywood studio with a 4,000- film library and the James Bond franchise. In between, the company made a major foray into physical retail with the $13.7 billion acquisition of Whole Foods in 2017, giving it 400-plus brick-and-mortar locations across the country.<\/p>\n

What is it that makes Amazon so \u201csticky\u201d for customers? Harvard Business School professor Sunil Gupta says it\u2019s the company\u2019s new spin on the traditional \u201crazor and blades\u201d model\u2014selling a foundational item (the razor) cheap to drive higher-margin repeat purchases (the blades). \u201cWhat Amazon has shown us is the \u2018razor\u2019 could be in one industry, and the \u2018blade\u2019 could be in a completely different industry,\u201d Gupta said. \u201cSo I can make movies, but I don\u2019t have to make money on the movies because I get you as a Prime customer, and then you buy more stuff\u2014and that\u2019s where I make money.\u201d<\/p>\n

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Bezos points to the company\u2019s famed leadership principles, with their emphasis on constant innovation, as the key to its success. \u201cA lot of companies will tell you they\u2019re customer-obsessed, but they\u2019re really competitor-obsessed,\u201d Bezos said. \u201cYou can\u2019t be customer-obsessed unless you love inventing\u2026You have to do new things. And Amazon is culturally very good at both of those things.\u201d\u00a0<\/p>\n

Letting go of those foundational principles is the biggest risk to Amazon\u2019s continued dominance, Bezos said. \u201cIf we ever stop obsessing over customers, if we ever stop inventing, if we start making short-term trades,\u201d he said, \u201cwe could probably coast for a while, but we would lose.\u201d<\/p>\n

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It\u2019s hard to imagine now, but this may eventually happen, said Bill Carr, former vice president of digital media at Amazon, and now a consultant. No company can keep soaring forever. \u201cJeff has even said this: There will be a day when Amazon goes the way of the dodo,\u201d he said. \u201cAmazon will cease to exist at some point. It\u2019s inevitable.\u201d\u00a0<\/p>\n

Perhaps to stave off that extinction, Amazon\u2019s corporate culture is notoriously hard-driving and competitive. In 2015, the New York Times<\/em> called it a \u201cbruising workplace\u201d and reported that white-collar workers were \u201cencouraged to tear apart one another\u2019s ideas in meetings, toil long and late (emails arrive past midnight, followed by text messages asking why they were not answered), and held to standards that the company boasts are \u2018unreasonably high.\u2019\u201d At the time, Amazon said the article lacked necessary context.<\/p>\n

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Jeff Wilke, former CEO of Amazon\u2019s Worldwide Consumer business, recalls a culture of intense collaboration. \u201cPeople want juicy details of conflict among senior people and all kinds of secret conversations and stuff, but in 22 years, we just had our heads down focused on building the company,\u201d Wilke said. \u201cI\u2019m really proud of the way that we, the company, behaved over all those years. And I think it\u2019s pretty special.\u201d<\/p>\n

There can be such a thing as too much innovation, said Wilke, recalling a moment when this became clear to him: Wilke noticed his team was drowning in work because so many tasks were deemed top priority. \u201cEverything can\u2019t be the most important thing in the company,\u201d Wilke said.\u00a0<\/p>\n

He sat down with Bezos and asked him to consider the possibility that he was \u201creleasing too much work into the system.\u201d Bezos agreed, Wilke said, but also challenged his team to figure out how to get even more done. \u201cHe was relentless in inventing himself\u2014and in working with those of us in the senior team to invent\u2014ways to increase the capacity of the organization,\u201d said Wilke, who left in 2021 to build his own manufacturing company.\u00a0<\/p>\n

Carr agrees that working at Amazon could be all-consuming. But, he said, \u201cAmazon is a hard place to work and a hard place to leave\u2026Creating a billion-dollar business out of nothing isn\u2019t something you can do if you work nine-to-five and at a casual pace.\u201d<\/p>\n

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AI is now opening new doors to accelerate Amazon\u2019s astonishing growth\u2014at least that\u2019s what the company is betting. Amazon\u2019s expected $200 billion spend on AI infrastructure in 2026 puts it at the top of a Big Tech AI capex arms race that analysts expect will exceed $700 billion this year across the largest hyperscalers.\u00a0<\/p>\n

The company\u2019s Trainium and Graviton chips are forays into a space long dominated by chipmakers such as Nvidia and AMD. Bezos, who calls these chips the \u201cfoundation upon which all of this AI sits,\u201d said Amazon will launch its next-generation chip, Trainium4, next year.\u00a0<\/p>\n

Despite its prescient pivot to cloud computing, observers say Amazon got a sluggish start in the AI era. But there\u2019s some reason to think it\u2019s catching up: The influential tech analyst Mark Shmulik of Bernstein captured Wall Street\u2019s mood in October 2025 when he mused that AWS appeared to be \u201cin last place in AI.\u201d But by January, he\u2019d changed his tune, naming Amazon a top pick for 2026 and expressing optimism that AWS could reverse the narrative about its struggles with AI.\u00a0<\/p>\n

And many see Jassy\u2014with his experience running AWS\u2014as exactly the right man to pull off Amazon\u2019s pivot to AI. \u201cHe is a better CEO right now than Jeff Bezos would have been because this is the moment for cloud; Jassy is a cloud guy,\u201d said Laura Martin, a senior analyst at investment banking firm Needham & Co.<\/p>\n

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Jassy told Fortune<\/em> that AI will change \u201cevery customer experience that we know today and invent a whole host of new ones\u2026I do think we\u2019re living in a world where\u2026the key to the compute is often the chips,\u201d he said. \u201cThe growth in AI has been so significant, but we have a chips business that we built over the last decade here that is growing very quickly.\u201d\u00a0<\/p>\n

On Amazon\u2019s first-quarter earnings call, Jassy put the company\u2019s new pillar of business in perspective, sharing that in the first three years of the company\u2019s AI wave, AWS\u2019s AI revenue run rate exceeded $15 billion\u2014nearly 260 times its $58 million revenue run rate three years after launching. In other words, AWS\u2019s new AI business has scaled to a revenue level hundreds of times what AWS itself reached at the same age\u2014and AWS was already widely considered the fastest-growing business in tech history.\u00a0<\/p>\n

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Put simply: AI is looking like a wave that\u2019s bigger than anything even Amazon has ridden.\u00a0<\/p>\n

There are some who aren\u2019t rooting for Amazon to grow even larger. Stacy Mitchell, co\u2013executive director of the nonprofit Institute for Local Self-Reliance, has been one of Amazon\u2019s most vocal critics. \u201cYes, there are innovations that Amazon brought along, but the company also exploited shifts in public policy that gave them a significant advantage over their smaller competitors,\u201d Mitchell said. \u201cAnd it ultimately allowed them to dominate the market in a way that I think is harmful to competition and to consumers.\u201d<\/p>\n

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In 2023, the Federal Trade Commission and 17 states sued Amazon, accusing the company of illegally stifling competition. John Newman, then\u2013deputy director of the FTC\u2019s Bureau of Competition, called Amazon a \u201cmonopolist that uses its power to hike prices on American shoppers and charge sky-high fees on hundreds of thousands of online sellers.\u201d The trial is expected to start in 2027.<\/p>\n

Whether or not Amazon is determined to be a monopoly, there\u2019s arguably some irony in the company\u2019s dominance, given Amazon\u2019s mantra of \u201ccustomer obsession\u201d: As every economics textbook teaches, the less real competition in a market, the worse the consumer experience tends to be. \u201cTo save what people love about Amazon,\u201d Mitchell said, \u201cAmazon needs to face competition.\u201d<\/p>\n

Amazon also has an increasingly uneasy relationship with the people who make its customer obsession possible: its workers. With its pioneering of practices to continually increase speed, efficiency, worker-tracking, and automation, Amazon has transformed the American labor landscape. But at a moment of deep economic anxiety\u2014and a widening chasm between the working class and the wealthiest Americans\u2014Amazon has also become a symbol of everything critics say is broken about the modern workplace. In recent years, warehouse workers have rallied to unionize and demand better conditions. (Amazon points out that it has invested billions to improve worker safety.) And in its white-collar ranks, Amazon has cut nearly 30,000 corporate jobs in the past year.\u00a0<\/p>\n

As for Bezos himself, after the 30 years he has spent engineering the fastest, cheapest way to move goods across the world, he has become the face of what many workers say that relentless speed has cost them. He has also come under fire for his stewardship of the Washington Post<\/em>, which he purchased in 2013, and for his overtures to President Donald Trump.\u00a0<\/p>\n

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For his part, Bezos is focusing some of his efforts outside of Amazon: He\u2019s investing heavily in his Blue Origin space tech company. Despite setbacks including a rocket explosion in May, the company reportedly is raising $10 billion at $130 billion valuation.\u00a0<\/p>\n

He is also working on a secretive AI startup called Prometheus, reportedly valued at more than $40 billion.\u00a0<\/p>\n

The idea behind Prometheus, he told Fortune<\/em> in June, is to \u201caccelerate the dream-build loop\u201d\u2014reducing the friction and helping inventors go from idea to product quickly. The company is creating AI tools to help engineers manufacture intricate products faster.\u00a0<\/p>\n

\u201cIf you take a step back, all civilizational wealth is driven by invention,\u201d Bezos said, adding: \u201cWe have an endless set of things to invent.\u201d<\/p>\n

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This article appears in the August\/September 2026 issue of<\/em> Fortune with the headline \u201cArchitect of the everything era.\u201d<\/em><\/p>\n

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