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2014 Letter to ShareholdersLetter

2014 Letter to Shareholders

Jeff Bezos

Apr 2015 · 22 min read

The four traits of a dreamy business, and how Marketplace, Prime, and AWS each earned the label.

2011 Letter to ShareholdersLetter

2011 Letter to Shareholders

Jeff Bezos

Apr 2012 · 16 min read

Why self-service platforms beat gatekeepers: AWS, FBA, and KDP let improbable ideas get tried.

2003 Letter to ShareholdersLetter

2003 Letter to Shareholders

Jeff Bezos

Apr 2004 · 11 min read

Why long-term thinking is the mark of true ownership — owners are different from tenants.

2002 Letter to ShareholdersLetter

2002 Letter to Shareholders

Jeff Bezos

Apr 2003 · 12 min read

How Amazon turned customer experience into a fixed cost to deliver both great service and low prices.

1997 Letter to ShareholdersLetter

1997 Letter to Shareholders

Jeff Bezos

Mar 1998 · 7 min read

Jeff Bezos' original letter to shareholders is reprinted from Amazon's 1997 Annual Report.

7 RejectionsEssay

7 Rejections

Brian Chesky

Jul 2015 · 1 min read

On June 26, 2008, our friend Michael Seibel introduced us to 7 prominent investors in Silicon Valley.

Don't Fuck Up the CultureEssay

Don't Fuck Up the Culture

Brian Chesky

Apr 2014 · 3 min read

Why culture matters more than anything else — the letter Chesky sent the entire Airbnb team in 2013.

Making Money Isn't About LuckEssay

Making Money Isn't About Luck

Naval Ravikant

Mar 2019 · 5 min read

The four kinds of luck, and how to build a character that makes wealth find you.

Labor and Capital Are Old LeverageEssay

Labor and Capital Are Old Leverage

Naval Ravikant

Apr 2019 · 4 min read

Labor and capital are old leverage: both must be granted by others and are hard to scale.

Seek Wealth, Not Money or StatusEssay

Seek Wealth, Not Money or Status

Naval Ravikant

Feb 2019 · 6 min read

The difference between wealth, money, and status — and why only wealth buys freedom.

Guide to Career Planning, Part 2: Skills and educationEssay

Guide to Career Planning, Part 2: Skills and education

Marc Andreessen

Oct 2007 · 17 min read

Which skills actually compound in a career — and what formal education is and isn't good for.

Guide to Career Planning, Part 1: OpportunityEssay

Guide to Career Planning, Part 1: Opportunity

Marc Andreessen

Sep 2007 · 11 min read

Why planning a career is pointless — and why seizing opportunities beats following a plan.

Guide to Career Planning, Part 3: Where to go and whyEssay

Guide to Career Planning, Part 3: Where to go and why

Marc Andreessen

Oct 2007 · 9 min read

How to pick the industry, company, and role where your opportunities will compound.

Guide to Big Companies: Retaining great peopleEssay

Guide to Big Companies: Retaining great people

Marc Andreessen

Jul 2007 · 12 min read

How big companies lose their best people, and what it takes to keep them.

Steve Jobs on FocusVideo

Steve Jobs on Focus

Various Founders

Sep 1997 · 3 min

Steve Jobs's philosophy on the power of saying no and eliminating distractions to achieve excellence.

CEOs Should Tell It Like It IsEssay

CEOs Should Tell It Like It Is

Ben Horowitz

Jul 2010 · 11 min read

CEOs who hide bad news destroy trust and prevent their best people from solving hard problems.

Making Yourself a CEOEssay

Making Yourself a CEO

Ben Horowitz

Oct 2012 · 12 min read

Being a CEO requires mastering unnatural skills, especially the foundational practice of giving honest, authentic feedback.

Managing Your Own PsychologyEssay

Managing Your Own Psychology

Ben Horowitz

Mar 2011 · 16 min read

Managing your own psychology is the hardest CEO skill, harder than organizational design or hiring, because everything wrong is your fault.

How Things Get DoneEssay

How Things Get Done

Sam Altman

3 min read

Things get done through focus on two or three priorities and strong personal relationships.

Employee RetentionEssay

Employee Retention

Sam Altman

5 min read

Why keeping early employees matters more than hiring them, and three strategies that actually work.

How to HireEssay

How to Hire

Sam Altman

12 min read

Hiring is the most important thing a founder does; spend a third to half your time doing it well.

Startup Advice, BrieflyEssay

Startup Advice, Briefly

Sam Altman

4 min read

Start with a project, not a company, so you can find something great to work on without premature commitment.

Advice for Ambitious 19 Year OldsEssay

Advice for Ambitious 19 Year Olds

Sam Altman

4 min read

Build something real while staying around smart people, regardless of whether you choose college, a company, or a startup.

Billionaires BuildEssay

Billionaires Build

Paul Graham

Dec 2020 · 15 min read

Becoming a billionaire requires building something people genuinely want, not exploiting them.

The Hardest Lessons for Startups to LearnEssay

The Hardest Lessons for Startups to Learn

Paul Graham

Apr 2006 · 21 min read

The counterintuitive lessons startups repeatedly fail to learn: release early, keep improving, make users happy, and fear the right threats.

Startups in 13 SentencesEssay

Startups in 13 Sentences

Paul Graham

Feb 2009 · 6 min read

Thirteen principles for building a startup, from picking cofounders to understanding your users above all else.

When to Do What You LoveEssay

When to Do What You Love

Paul Graham

Sep 2024 · 7 min read

When to pursue work you love versus work that pays well depends on your ambitions and the actual odds of success in your chosen field.

Organic Startup IdeasEssay

Organic Startup Ideas

Paul Graham

Apr 2010 · 4 min read

The best startup ideas come from problems you encounter in your own life, not from trying to guess what others want.

Jony Ive recounts the time Steve Jobs called him vainVideo

Jony Ive recounts the time Steve Jobs called him vain

Jony Ive

Mar 2026 · 1 min read

In the clip below, Jony Ive recounts the time he asked Steve Jobs to be less harsh in his critique of a piece of work.

Eric Schmidt on why most companies get strategy wrongVideo

Eric Schmidt on why most companies get strategy wrong

Eric Schmidt

Mar 2026 · 1 min read

Why strategy should start from what the world will look like in five years, not from your products.

Mark Zuckerberg: “You can’t 80/20 everything”Video

Mark Zuckerberg: “You can’t 80/20 everything”

Mark Zuckerberg

Mar 2026 · 1 min read

Why some problems demand 100% of the work — you can't 80/20 everything.

Keith Rabois on how to identify great talentVideo

Keith Rabois on how to identify great talent

Keith Rabois

Mar 2026 · 1 min read

How to spot great talent: expand each person's responsibilities until they break.

Tobi Lutke explains what the VCs who passed on Shopify got wrongVideo

Tobi Lutke explains what the VCs who passed on Shopify got wrong

Tobi Lütke

Mar 2026 · 1 min read

“What a lot of free-market thinkers don’t understand is that between the demand and eventual supply lies friction."

Paul Graham on why starting with a “small, intense fire" is the key to startup growthVideo

Paul Graham on why starting with a “small, intense fire" is the key to startup growth

Paul Graham

Mar 2026 · 1 min read

"You have to know who those first users are and how you're going to get them."

Sam Altman explains how he decides to invest in a startup after 10 minutesVideo

Sam Altman explains how he decides to invest in a startup after 10 minutes

Sam Altman

Mar 2026 · 1 min read

What a 10-minute YC interview reveals about a founder's potential.

Marc Andreessen on the 5 personality traits of an innovatorVideo

Marc Andreessen on the 5 personality traits of an innovator

Marc Andreessen

Mar 2026 · 1 min read

The five personality traits that separate true innovators from everyone else.

Steve Jobs explains the importance of both thinking and doingVideo

Steve Jobs explains the importance of both thinking and doing

Steve Jobs

Mar 2026 · 1 min read

Why the people who change industries are thinkers and doers in one person.

Jeff Bezos’s two pieces of advice for aspiring entrepreneursVideo

Jeff Bezos’s two pieces of advice for aspiring entrepreneurs

Jeff Bezos

Mar 2026 · 1 min read

Why entrepreneurs shouldn't chase the hot thing — position for the wave, then wait.

What's The Most Difficult CEO Skill?Essay

What's The Most Difficult CEO Skill?

Ben Horowitz

9 min read

No essay prose was present in the provided resource.

Hiring ExecutivesEssay

Hiring Executives

Ben Horowitz

9 min read

The hard decisions and strategies for hiring and promoting executives as your company scales.

Why Startups Should Train Their PeopleEssay

Why Startups Should Train Their People

Ben Horowitz

9 min read

Training employees builds competitive advantage and reduces turnover in high-growth startups.

Why We Prefer Founding CEOsEssay

Why We Prefer Founding CEOs

Ben Horowitz

9 min read

Founding CEOs outperform professional CEOs because they're more committed to the company's mission and better able to navigate uncertainty.

The Case for the Fat StartupEssay

The Case for the Fat Startup

Ben Horowitz

9 min read

Lean startups can thrive by spending more strategically instead of cutting costs everywhere.

How to Minimize Politics in Your CompanyEssay

How to Minimize Politics in Your Company

Ben Horowitz

9 min read

Strategies for reducing destructive internal power dynamics and factionalism in growing companies.

Lead BulletsEssay

Lead Bullets

Ben Horowitz

9 min read

Leaders should deliver hard truths to their teams even when doing so risks unpopularity.

A Good Place to WorkEssay

A Good Place to Work

Ben Horowitz

9 min read

Ben Horowitz is a cofounder and general partner at Andreessen Horowitz.

The StruggleEssay

The Struggle

Ben Horowitz

9 min read

No essay body was included in the scrape.

Peacetime CEO / Wartime CEOEssay

Peacetime CEO / Wartime CEO

Ben Horowitz

9 min read

No essay prose was included — only navigation, bio, and a list of other content titles.

2020 Letter to Shareholders — FarewellLetter

2020 Letter to Shareholders — Farewell

Jeff Bezos

Apr 2021 · 25 min read

Bezos's parting message in his final shareholder letter as CEO, framed via a Richard Dawkins passage on biological homeostasis.

2018 Letter to ShareholdersLetter

2018 Letter to Shareholders

Jeff Bezos

Apr 2019 · 18 min read

Bezos arguing that risk-taking, not just revenue, must scale with company size.

2016 Letter to Shareholders — Day 1Letter

2016 Letter to Shareholders — Day 1

Jeff Bezos

Apr 2017 · 8 min read

Four practices to prevent organizational stagnation: customer obsession, rejecting proxies, embracing trends, and fast decision-making.

Notes on Stripe's response to SVBEssay

Notes on Stripe's response to SVB

Patrick Collison

1 min read

Only a list of nav links (About, Advice, Blog, Bookshelf, etc.) was provided; no essay prose was included.

AboutEssay

About

Patrick Collison

1 min read

Patrick Collison's interests and involvement in economic growth, entrepreneurship, climate, housing, and progress studies.

FastEssay

Fast

Patrick Collison

7 min read

Collison's single sharpest juxtaposition of what humans used to be able to build versus what we now accept.

QuestionsEssay

Questions

Patrick Collison

16 min read

A collection of open-ended questions about economics, progress, institutions, and society from a founder's perspective.

AdviceEssay

Advice

Patrick Collison

3 min read

Go deep on multiple things, make internet friends, read widely, and resist pressure to follow standard paths.

Happiness Is a SkillEssay

Happiness Is a Skill

Naval Ravikant

Mar 2021 · 23 min read

Happiness is a skill you can develop by understanding desire and recognizing what's within your control.

Desire Is a Contract You Make With YourselfEssay

Desire Is a Contract You Make With Yourself

Naval Ravikant

Feb 2020 · 1 min read

Desire is a contract to remain unhappy until you get what you want, and satisfaction reverts you to your baseline anyway.

JudgmentEssay

Judgment

Naval Ravikant

Apr 2019 · 6 min read

Why judgment becomes your most important asset once you have leverage.

How to Find Specific KnowledgeEssay

How to Find Specific Knowledge

Naval Ravikant

Mar 2019 · 6 min read

Specific knowledge comes from pursuing your genuine curiosity and innate talents, not from school or following others.

How to Get Rich (Without Getting Lucky)Essay

How to Get Rich (Without Getting Lucky)

Naval Ravikant

Dec 2019 · 193 min read

Wealth is assets that earn while you sleep; money is how you transfer it; status is a zero-sum game you should avoid.

Upside RiskEssay

Upside Risk

Sam Altman

2 min read

Power law returns mean angel investors should focus on upside risk—missing great deals—not downside protection.

Super-Successful CompaniesEssay

Super-Successful Companies

Sam Altman

5 min read

The defining traits of founders whose startups become extremely successful.

Value Is Created By DoingEssay

Value Is Created By Doing

Sam Altman

3 min read

Most work that feels busy—meetings, networking, talking—doesn't create value; only execution does.

The Days Are Long But The Decades Are ShortEssay

The Days Are Long But The Decades Are Short

Sam Altman

6 min read

Altman's closing line and title — the frame for the entire list of life lessons written on his 30th birthday.

What I Wish Someone Had Told MeEssay

What I Wish Someone Had Told Me

Sam Altman

1 min read

How to start and scale ambitious things: recruiting, focus, speed, conviction, and fighting bureaucracy.

How To Invest In StartupsEssay

How To Invest In Startups

Sam Altman

9 min read

How to succeed as a startup investor by accessing deals, picking great founders, and getting them to choose you.

Hard StartupsEssay

Hard Startups

Sam Altman

2 min read

Altman's core thesis: ambition is a recruiting and gravitational advantage, not a liability.

Researchers and FoundersEssay

Researchers and Founders

Sam Altman

1 min read

The common traits that distinguish the best researchers and founders, from problem taste to persistence to an action bias.

Idea GenerationEssay

Idea Generation

Sam Altman

3 min read

How to get good at generating startup ideas through environment, tectonic shifts, and founder-company fit.

ProductivityEssay

Productivity

Sam Altman

10 min read

Choosing what to work on matters more than how fast you work, and small gains compound into massive results over time.

How To Be SuccessfulEssay

How To Be Successful

Sam Altman

15 min read

Altman's personal filter for what's worth working on next.

Startup PlaybookEssay

Startup Playbook

Sam Altman

34 min read

A founder's guide to the core elements of starting a successful startup: idea, team, product, and execution.

Luck and the EntrepreneurEssay

Luck and the Entrepreneur

Marc Andreessen

Aug 2007 · 8 min read

Four distinct kinds of luck shape entrepreneurial success, each requiring different personality traits and behaviors to activate.

Age and the EntrepreneurEssay

Age and the Entrepreneur

Marc Andreessen

Aug 2007 · 11 min read

Andreessen's gloss on Simonton's finding that the 'quality ratio' of hits to misses stays roughly constant throughout a creative career.

How to Hire the Best People You've Ever Worked WithEssay

How to Hire the Best People You've Ever Worked With

Marc Andreessen

Jun 2007 · 12 min read

Drive, curiosity, and ethics matter more than raw intelligence when hiring the best people for a startup.

Guide to Startups, Part 9: How to hire a professional CEOEssay

Guide to Startups, Part 9: How to hire a professional CEO

Marc Andreessen

Aug 2007 · 1 min read

Don't hire a professional CEO if no one on your founding team can do it—sell instead.

Guide to Startups, Part 8: Hiring, managing, promoting, and firing executivesEssay

Guide to Startups, Part 8: Hiring, managing, promoting, and firing executives

Marc Andreessen

Aug 2007 · 16 min read

How to hire, manage, promote, and fire executives at a startup, with specific guidelines for each stage.

Guide to Startups, Part 7: Why a startup's initial business plan mattersEssay

Guide to Startups, Part 7: Why a startup's initial business plan matters

Marc Andreessen

Jul 2007 · 6 min read

Andreessen's punchline: the inventor of the phonograph initially filed it under 'speaking telegraph' and missed its true market for months.

Guide to Startups, Part 6: How much funding is too little? Too much?Essay

Guide to Startups, Part 6: How much funding is too little? Too much?

Marc Andreessen

Jul 2007 · 9 min read

How much funding a startup should raise: enough to reach product/market fit or full exploitation, with a buffer for setbacks.

Guide to Startups, Part 5: The Moby Dick theory of big companiesEssay

Guide to Startups, Part 5: The Moby Dick theory of big companies

Marc Andreessen

Jun 2007 · 10 min read

How to navigate unpredictable dealings with large companies as a startup founder.

Guide to Startups, Part 4: The only thing that mattersEssay

Guide to Startups, Part 4: The only thing that matters

Marc Andreessen

Jun 2007 · 10 min read

Rachleff's Corollary of Startup Success, as formulated by Andreessen.

Superlinear ReturnsEssay

Superlinear Returns

Paul Graham

Oct 2023 · 19 min read

In most fields, small differences in performance create outsized differences in results because of exponential growth and thresholds.

Before the StartupEssay

Before the Startup

Paul Graham

Oct 2014 · 20 min read

Why your instincts about startups will mislead you, and what to trust instead.

The Top Idea in Your MindEssay

The Top Idea in Your Mind

Paul Graham

Sep 2022 · 10 min read

Most startup problems repeat across companies, so the key to advising founders is helping them focus on what actually matters most.

How You KnowEssay

How You Know

Paul Graham

May 2003 · 25 min read

Why startups beat incumbents in design wars: design-by-committee deliberately trades away upside to avoid downside.

Why It's Safe for Founders to Be NiceEssay

Why It's Safe for Founders to Be Nice

Paul Graham

Apr 2004 · 9 min read

Hackers' disobedience and rule-breaking are essential to their brilliance, not flaws to suppress.

Life Is ShortEssay

Life Is Short

Paul Graham

Apr 2001 · 1 min read

Time is finite, so choose work and people that matter most to you.

How to Do What You LoveEssay

How to Do What You Love

Paul Graham

Jan 2006 · 21 min read

Most people are taught that work must be unpleasant, but the most successful ones have learned to do what they genuinely love.

Black Swan FarmingEssay

Black Swan Farming

Paul Graham

Sep 2012 · 9 min read

Startup investing concentrates returns in a few massive winners, which look like bad ideas until they succeed.

Mean People FailEssay

Mean People Fail

Paul Graham

Nov 2014 · 5 min read

Meanness correlates with startup failure because it costs you talent and prevents the transcendent thinking startups require.

The Anatomy of DeterminationEssay

The Anatomy of Determination

Paul Graham

Jan 2017 · 1 min read

Smart people take risks that look crazy only in hindsight; Newton's work in alchemy and theology were reasonable bets in his time.

How to DisagreeEssay

How to Disagree

Paul Graham

Mar 2008 · 7 min read

Graham's closing observation that climbing the disagreement hierarchy doesn't just make arguments better, it makes the arguers less cruel.

How to Make WealthEssay

How to Make Wealth

Paul Graham

May 2004 · 39 min read

Starting a startup is the most reliable way to compress your earning potential by working intensely for a few years instead of a lifetime.

Relentlessly ResourcefulEssay

Relentlessly Resourceful

Paul Graham

Mar 2009 · 4 min read

The defining quality of a successful startup founder is relentless resourcefulness.

Schlep BlindnessEssay

Schlep Blindness

Paul Graham

Jan 2012 · 4 min read

Great startup ideas fail because our unconscious mind avoids problems requiring tedious, difficult work.

Cities and AmbitionEssay

Cities and Ambition

Paul Graham

May 2008 · 16 min read

Graham's argument for why where you live matters far more than the 'couple percent' you'd expect.

How to Start a StartupEssay

How to Start a Startup

Paul Graham

Mar 2005 · 43 min read

Three things determine whether a startup succeeds: good people, a product customers want, and spending little money.

Founder ModeEssay

Founder Mode

Paul Graham

Sep 2024 · 5 min read

Founder mode—how founders run companies—works better than manager mode, the standard advice they're given.

Maker's Schedule, Manager's ScheduleEssay

Maker's Schedule, Manager's Schedule

Paul Graham

Jul 2009 · 5 min read

Two incompatible ways to use time: the maker's schedule and the manager's schedule.

How to Get Startup IdeasEssay

How to Get Startup Ideas

Paul Graham

Nov 2012 · 32 min read

The best startup ideas come from problems you have yourself, not from trying to think of startup ideas.

Do Things That Don't ScaleEssay

Do Things That Don't Scale

Paul Graham

Jul 2013 · 19 min read

Why successful startups succeed by doing manually unscalable things first, like recruiting users one at a time.

Guide to Startups, Part 3: 'But I don't know any VCs!'Essay

Guide to Startups, Part 3: 'But I don't know any VCs!'

Marc Andreessen

Jun 2007 · 10 min read

Andreessen's prescription for outsiders trying to break into the VC network.

Guide to Startups, Part 2: When the VCs say noEssay

Guide to Startups, Part 2: When the VCs say no

Marc Andreessen

Jun 2007 · 11 min read

How to reduce layers of risk in your startup plan after VCs say no.

Guide to Startups, Part 1: Why not to do a startupEssay

Guide to Startups, Part 1: Why not to do a startup

Marc Andreessen

Jun 2007 · 10 min read

The emotional, logistical, and interpersonal reasons why starting a company is much harder than most people realize.