- Facebook CEO Mark Zuckerberg’s notes for testifying in front of Congress quote a line from Amazon CEO Jeff Bezos about companies that “work hard to charge you less.”
- Amazon’s strategy of working hard to charge less was reportedly inspired by a 2001 meeting between Bezos and Costco’s co-founder.
- While tech CEOs have adopted the strategy (and the “Jeffism”), few companies cut prices with greater efficiency than Costco.
When photographers managed to capture a photo of the Facebook CEO and founder’s private notes on Tuesday, viewers with particularly sharp eyes may have caught a reference to Costco — by way of Amazon CEO Jeff Bezos.
“Bezos: ‘Companies that work hard to charge you more and companies that work hard to charge you less,'” one of Zuckerberg’s bullets reads.
“At FB, we try hard to charge you less,” the following bullet reads. “In fact, we’re free.”
The note appears to reference a well-known line from an Amazon earnings call in 2001, first spotted by The Puget Sound Business Journal.
The full quote is: “There are two kinds of retailers: there are those folks who work to figure how to charge more, and there are companies that work to figure out how to charge less,…