Analysis
The quote appears verbatim in the **official transcript** of Bezos’ September 13, 2018, conversation with David Rubenstein at *The Economic Club of Washington* (timestamp ~35:40). Bezos has repeatedly emphasized long-term orientation in Amazon’s shareholder letters (e.g., 1997, 2014) and public remarks, framing it as a strategic advantage. The statement reflects his argument that short-term market or public misperceptions are tolerable if the underlying strategy is sound. No credible evidence suggests the quote is fabricated or taken out of context.
Background
Bezos founded Amazon in 1994 with a focus on long-term growth over quarterly profits, a principle he codified in his **1997 shareholder letter** as the 'Day 1' mentality. The 2018 interview occurred amid Amazon’s expansion into sectors like cloud computing (AWS) and physical retail (Whole Foods), where critics often questioned near-term profitability. His remarks echo similar advice from Warren Buffett and other investors prioritizing patience over immediate validation.
Verdict summary
Jeffrey Bezos did make this statement during a 2018 interview at *The Economic Club of Washington*, and it aligns with his long-stated business philosophy on long-term thinking at Amazon.