In the book "The Everything Store," author Brad Stone recounts a conversation between Bill Miller, the chief investment officer at Legg Mason Capital Management and a notable Amazon investor, and Jeff Bezos regarding the future profitability of Amazon Web Services (AWS). Bezos expressed confidence in AWS's long-term profitability but was cautious about his pricing strategy.
He reflected on the lessons learned from Steve Jobs's approach to the iPhone, cautioning against setting prices too high that would attract overwhelming competition. This highlights Bezos's strategic mindset in navigating the nascent cloud computing market while maintaining a sustainable competitive edge.