Jeff Bezos, the founder of Amazon and one of the wealthiest individuals on the planet, adheres to a personal philosophy that he refers to as the “regret-minimization framework.” This framework, which emphasizes the importance of acting in ways that limit future regrets, has profoundly influenced his life decisions. Bezos believes that by considering how he would feel about his choices when looking back at them at the age of 80, he can make more fulfilling and impactful decisions in the present.

The origins of this mindset date back to 1994, when Bezos made the bold decision to leave his promising career at a hedge fund to embark on the ambitious journey of founding Amazon. At that time, the internet was just beginning to revolutionize the way people shop and communicate, and Bezos recognized the immense potential for creating a business that could harness this new technology. This decision ultimately led to the creation of a tech giant that is now valued at an astonishing $2.3 trillion, transforming the global retail landscape and establishing Bezos as a leader in e-commerce.

Bezos’s willingness to take risks and make significant investments is evident in various ventures within Amazon, such as the introduction of the Prime subscription service and the development of Amazon Web Services (AWS), a cloud computing powerhouse. These initiatives have not only bolstered Amazon’s growth but have also paved the way for innovations across multiple industries.

Beyond his professional life, the regret-minimization framework also shaped Bezos’s personal choices. Six years ago, he made headlines when he ended his 25-year marriage to MacKenzie Scott and began a relationship with Lauren Sánchez, a former television presenter. This significant life change was a reflection of his desire to pursue happiness and fulfillment, showcasing his commitment to living without regrets.

In another display of his willingness to embrace extravagant experiences, Bezos reportedly spent around $50 million to rent out the stunning city of Venice for three days to celebrate his opulent wedding to Sánchez, which began on June 26th. Despite the potential backlash from critics who argue about the moral implications of such lavish spending, Bezos appears unfazed, prioritizing his personal happiness and fulfillment over societal judgment.