Jeff Bezos' Regret Minimization Principle

Jeff Bezos left Wall Street to found Amazon by applying the regret minimization framework.

Regret Minimization

The businessman asked himself what he would regret more in old age: failure or lack of risk. The answer was clear—the impossibility of knowing what would have happened if he had taken the risk.

The Secret to Success Was Simple

Understanding that failure can be survived, while the question 'what if?' haunts you for a lifetime, pushed him to take decisive action. This strategy allowed him to create one of the world's largest companies.