In his April 2016 letter to Amazon shareholders, Jeff Bezos explained why the company takes big risks. “Given a ten percent chance of a 100 times payoff, you should take that bet every time. But you’re still going to be wrong nine times out of ten.”
He compared it to baseball. In baseball, the best possible swing scores four runs. “In business, every once in a while, when you step up to the plate, you can score 1,000 runs.”