There was the Fire phone, for instance, which was touted as being crucial to Amazon’s future. It was one of the biggest bombs since New Coke. At one point, Amazon cut its price to 99 cents. That did not help.
For any other company, this would have been a humiliating experience with severe repercussions. Wall Street did not blink, even when Amazon wrote off $170 million related to the device.
“If you’re going to take bold bets, they’re going to be experiments,” Mr. Bezos explained. “And if they’re experiments, you don’t know ahead of time if they’re going to work….