PACIFIC for April 19: How Amazon owns the world

The Big Picture: The Membership Principle: Amazon has surpassed 100 million Prime members globally. Those are members, not subscribers. Members don’t just use a product, they live in a universe. They pay to join, pay to use and constantly supply data that informs and improves the product. Prime members aren’t fans, they’re season ticket holders. Amazon brought in $9.72 billion in revenue from them last year alone.

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What’s Next: Jamie Dimon on Jeff Bezos for the new Time 100 List: “From the outset, the key to Jeff Bezos’ success has been his intense and unwavering focus on customer satisfaction and on his audience: the end user. … Jeff’s relentless attention to consumers is not defined by any boundaries. As Amazon has grown … he has never lost sight of the millions of people he is serving. And that is how you win in American business and raise the standards of what customers come to expect.”

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