Amazon CEO Jeff Bezos warned Thursday the company will have large, failed experiments in his annual shareholder letter.
div > div.group > p:first-child"> "Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures," Bezos said."We will work hard to make them good bets, but not all good bets will ultimately pay out."
The former, he said, was a"failure." Amazon discontinued the phone in 2015 and took a $170 million write-off.The annual letter has been published since 1997 and is often looked at for glimpses into the company's long-term plans. This year's focus was on the growth of third-party sellers, up 4% from last year in comparison to the company's first-party sales.
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