Yesterday I shared my thoughts on Jeff Bezos embracing wandering. In the video I referred to, Bezos talked about something else that I’ve been thinking about: cost reduction.

To Bezos, cost reduction means inventing a better way of doing existing work. When you invest in a better way, you make doing that work less expensive, which makes the world richer. He used the example of the plow. The invention of plowing made farming less expensive and more efficient, which made the world richer (by making food more plentiful and less expensive).

Space flight, Bezos said, is a solved problem, and he’s focused on dramatically reducing its cost.

It’s interesting that Bezos arguably has built a trillion-dollar company (Amazon.com) by focusing on cost reduction and could build another massive company with Blue Origin by turning the same focus onto a different industry.

If you want to check out this section of the interview, look here.