# Amazon 2022 Shareholder Letter (PDF) - Host: [s2.q4cdn.com](https://links.thingelstad.xyz/hosts/s2.q4cdn.com/) - Saved: April 13, 2023 (2023-04-14T02:02:29Z) - Record: https://links.thingelstad.xyz/links/36561b924cf5/ - JSON: https://links.thingelstad.xyz/links/36561b924cf5.json ## What Jamie wrote Andy Jassy's 2nd annual shareholder letter as Amazon CEO. It covers a lot of ground, and in general has a tone of lower risk appetite, focused on efficiency, and managed investment in growth. > **AWS has an $85B annualized revenue run rate, is still early in its adoption curve, but at a juncture where it’s critical to stay focused on what matters most to customers over the long-haul.** Despite growing 29% year-over- year ("YoY") in 2022 on a $62B revenue base, AWS faces short-term headwinds right now as companies are being more cautious in spending given the challenging, current macroeconomic conditions. I think this is the first time that AWS has seen demand stay relatively flat. The reasoning makes sense given the optimization on spend that all companies are doing in the current environment. As always the whole letter is a good read, and given the size and breadth of Amazon's business is an overall assessment of numerous industries. ## Facts - Kind: [Paper](https://links.thingelstad.xyz/kinds/paper/) ## Appears in - [WT250: Weekly Thing #250 / LLM, Shanghai, Wing](https://weekly.thingelstad.com/archive/250/), Notable ## Saved the same week - [Free Dolly: Introducing the World's First Open and Commercially Viable Instruction-Tuned LLM - The Databricks Blog](https://links.thingelstad.xyz/links/7979fe76525f/) (databricks.com, April 13, 2023) - [Principles for Creating with AI](https://links.thingelstad.xyz/links/2f8e01b5cabe/) (cjchilvers.com, April 13, 2023) - [Ethereum’s Shanghai Upgrade Is Complete, Starting New Era of Staking Withdrawals](https://links.thingelstad.xyz/links/46bd50be26a5/) (coindesk.com, April 13, 2023) - [Eight Things to Know about LLMS - Marginal REVOLUTION](https://links.thingelstad.xyz/links/e4e4dc8f1009/) (marginalrevolution.com, April 13, 2023) - [An example of LLM prompting for programming](https://links.thingelstad.xyz/links/0ba634329d88/) (martinfowler.com, April 13, 2023) ## Elsewhere - Wayback Machine: https://web.archive.org/web/*/https://s2.q4cdn.com/299287126/files/doc_financials/2023/ar/2022-Shareholder-Letter.pdf