Jeff Bezos Says The 'Hardest Thing' Was Landing Amazon's First Million, Says He Warned Potential Backers Of A '70% Chance' They'd Lose Their Money
Jeff Bezos says the toughest test of his career wasn't building a trillion‑dollar tech empire — it was scraping together Amazon's first million dollars.
What Happened: Speaking at The New York Times DealBook Summit in December 2024, the Amazon founder recalled 1995, when "to raise the first $1 million of seed capital for Amazon, I [Bezos] sold 20% of the company at a $5 million valuation... to 22 angel investors, roughly $50,000 each."
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He said it took 60 pitches to secure those checks. "The 40 'no's were hard‑earned 'no's... The whole enterprise could have been extinguished then." Potential backers' first question: "What's the Internet?" Bezos even warned prospects that there was a "70% chance they would lose their investment."
'It was the hardest thing I've ever done," he added.
The gamble aged well. Amazon's market capitalization hovers near $1.99 trillion today, according to TradingEconomics, making that early 20 percent stake, had it survived dilution, worth roughly $400 billion. A single $50,000 slice would be about $18 billion.
Bezos told moderator Andrew Ross Sorkin that the ordeal shaped Amazon's culture of persistence. "Conviction matters," he said, adding that overcoming early skepticism was "the hardest thing I've ever done."
Amazon, launched from a Seattle garage to sell books online, now spans cloud computing, streaming, groceries and artificial intelligence. Yet Bezos noted that success began with convincing two dozen believers when the Internet itself was a curiosity. "If those 22 had said no," he said, "none of this would exist."What To Know: Bezos, in the same talk, told DealBook that founders often "overestimate risks and underestimate opportunities," so he deliberately tilts the other way. What looks like confidence, he said, is really "compensating for that human bias." Thinking small, he added, is "a self‑fulfilling prophecy" — act modestly and your results will match.
Bezos, at the time, also sounded upbeat about Donald Trump's second term as president, saying lighter regulation could spur business. He urged Washington to pair spending restraint with faster growth, aiming for 3‑5 percent annual GDP gains so the national debt rises more slowly than the economy.
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The motor can be switched out and used with each attachment with ease, and it self-cleans! Now discounted by an impressive AU$360 for Amazon's Mid-Year Sale, this 3-in-1 is worth grabbing. Sihoo M102C-M101: was AU$299.99 now AU$196.99 at Amazon Save AU$103 While we haven't tested this Sihoo seat for ourselves, we've been rather impressed with other chairs offered by the brand. If you need a new desk chair, the M102C might be one to consider, thanks to its easy assembly, mesh design, lumbar pillow and headrest. Philips Essential Airfyer XL 3000 Series (HD9270/21): was AU$299 now AU$226.92 at Amazon Save AU$72.08 Air frying is all the rage these days, but it can be hard to find the right one for your needs amongst so many options. That said, the Philips Essential Air Fryer XL 3000 is great for all occasions, thanks to its impressive air flow and large-ish capacity. You also get 7 presets and 14 functions, which is great at this discounted price that's equal to the lowest we have seen. Dyson V15s Detect Submarine Absolute: was AU$1,549 now AU$988 at Amazon Save AU$560 Now down to a low of AU$989, Dyson's Detect Submarine houses a powerful suction and a superb runtime of up to 60 minutes. It can handle all floor types, including wet and dry messes, and now it's discounted by 36%. Just make sure to apply the AU$10 coupon before checkout! Nespresso Vertuo Lattissima: was AU$749 now AU$639.20 at Amazon Save AU$109.80 If you're looking to elevate your pod coffee experience, Nespresso's Lattissima machine will do just that. With the usual one-touch coffee convenience you'll find with Nespresso, this fully automatic machine produces 6 cup sizes, from espresso to alto, as well as 3 milk-based presets, like a cappuccino or a latte. The built-in frothing wand takes care of your milk's business by aerating it to warm and foamy heaven. Roborock Q8 Max+: was AU$1,299 now AU$649 at Amazon Save AU$650 Typically discounted during most sales events, there's a massive AU$650 off the Roborock Q8 Max+. This stellar robovac packs punches of suction power and can mop as well as vacuum (simultaneously on hard floors). Ninja Slushi: was AU$499 now AU$424.15 at Amazon Save AU$74.85 The Ninja Slushi turns liquids into smooth frozen drinks by using specialised RapidChill technology, so you don't need ice. With a selection of different settings, like frappe, spiked slush and smoothie, you'll have a blast slushing (and slurping) your favourite frozen beverages. Personal care Dyson Airstrait (Ceramic Pink / Rose Gold): was AU$749 now AU$597 at Amazon Save AU$152 Slashing 20% off RRP, the Dyson Airstrait can take your hair styling routine to a whole new level. The no-hot-plate hair straightener is also a dryer that can dry totally wet hair to a naturally straight finish in just a matter of minutes. With three temperature settings and precise airflow blades, this hair tool is ideal for those looking to reduce their drying and styling time. Also included in the box is a non-slip heat-resistant mat, which can be used to place the styler down in between sections. This discount is also available in the Iron / Copper colourway. Dyson Supersonic Nural hair dryer: was AU$749 now AU$499 at Amazon Save AU$250 With new smart settings and a brand-new diffuser attachment for curly hair types, the Dyson Supersonic Nural is perfect for anyone. It features all the beloved settings of the original, but also comes packed with sensors and attachments. The latter are intelligent too, allowing the hair dryer to remember the last settings used. Now, for AU$250 off, this hair dryer is worth picking up quicksmart. Also available in the Jasper Plum colourway for AU$597.
