Amazon CEO Jeff Bezos warned on Thursday that the company will have large, failed experiments.
"Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures," Bezos said in his annual shareholder letter. "We will work hard to make them good bets, but not all good bets will ultimately pay out."
As the company grows, he said, it only makes sense for their failures to grow at a larger scale. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time.