Nov 3, 2026 · 38 min · 16 segments
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Larry WeidelHost
Adam WeidelHost
And I'll just make the comment, it's really, Adam, in a world where the CEOs of these big corporations have got quarterly checks on their performance, and they've got to hit those margins, it's hard to think real long-term when if I don't do well this quarter, The shareholders are going to take me out and tar and feather me, and I won't be around next year.

So it's a... tightrope to walk that between short-term and long-term success, especially in a big corporation, isn't it?
And one of the stakeholders you have to manage is your investors, whether that's your board, your direct investors, public investors, or whatever it is.
And if you think about what companies like Amazon have done, one of the masterful things they've done is they've managed investor expectations.
So, for example, their very first shareholder letter, the 1997 shareholder letter from Amazon, which they continue to always append to the current year shareholder letter.
says what Amazon is, what they believe in is long-term enterprise value creation.
They will not work to optimize today's profitability at the sacrifice of future profitability.
And they are going to pursue and invent things that others may not understand.
One of the things that CEOs have to manage is that expectation that we are going to work at long-term viability, which may in the short term, A, these are experiments, they won't all work out, and B, it's going to take a little bit of today's short-term profit in order to fund those.
That's one of the jobs of a big bet legend is giving yourself the room to make those investments, to take those chances, but you also have to work at keeping them small and managing the expectations until you've proven out what the concept is.
A big bet is anything plan, strategy, or concept that has both high ambition, but also risks, dependencies, unknown timing that make it difficult to predict when it's going to happen.
If you can write a high confidence resource plan and a high confidence finance plan for an initiative, it's not a big bet.

And I'll just make the comment, it's really, Adam, in a world where the CEOs of these big corporations have got quarterly checks on their performance, and they've got to hit those margins, it's hard to think real long-term when if I don't do well this quarter, The shareholders are going to take me out and tar and feather me, and I won't be around next year.

So it's a... tightrope to walk that between short-term and long-term success, especially in a big corporation, isn't it?
And one of the stakeholders you have to manage is your investors, whether that's your board, your direct investors, public investors, or whatever it is.
And if you think about what companies like Amazon have done, one of the masterful things they've done is they've managed investor expectations.
So, for example, their very first shareholder letter, the 1997 shareholder letter from Amazon, which they continue to always append to the current year shareholder letter.
says what Amazon is, what they believe in is long-term enterprise value creation.
They will not work to optimize today's profitability at the sacrifice of future profitability.
And they are going to pursue and invent things that others may not understand.
One of the things that CEOs have to manage is that expectation that we are going to work at long-term viability, which may in the short term, A, these are experiments, they won't all work out, and B, it's going to take a little bit of today's short-term profit in order to fund those.
That's one of the jobs of a big bet legend is giving yourself the room to make those investments, to take those chances, but you also have to work at keeping them small and managing the expectations until you've proven out what the concept is.
A big bet is anything plan, strategy, or concept that has both high ambition, but also risks, dependencies, unknown timing that make it difficult to predict when it's going to happen.
If you can write a high confidence resource plan and a high confidence finance plan for an initiative, it's not a big bet.
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