Amazon.com IPO
Jeff Bezos drives across the country with his wife MacKenzie to start a company in their garage. He sells books because books are the perfect product — uniform, non-perishable, and there are millions of titles. Amazon IPOs on May 15, 1997 at $18 a share. Bezos's letter to shareholders says 'it's all about the long term.' Wall Street thinks he's crazy. He's losing money. But he's growing revenue 900% a year. The letter becomes legendary. Amazon is still playing the long game.
Amazon's IPO validated e-commerce at scale. Bezos's shareholder letter became a foundational text of long-term business thinking. Amazon would go on to reshape retail entirely.