As Amazon loses $450 billion-plus in market value in less than 10 days, here’s what founder Jeff Bezos told shareholders in annual letter when Amazon stock fell 80% in 2000

Amazon recently posted its longest streak of daily losses in almost 20 years after the company’s shares fell 18% over the last 10 days, erasing about $463 billion in market valuation. Shares on the e-commerce giant fell 0.4% on February 13, marking their ninth straight negative session, per a Bloomberg report. This marks Amazon stock’s longest losing streak since a nine-day decline that ended in July 2006. Amidst all this, an old letter by Amazon founder Jeff Bezos has appeared on X. Addressed to Amazon’s shareholders, the letter acknowledges Amazon’s 80% stock drop during the dot-com bubble in 2000.

Shared by journalist Jon Erlichman, the letter emphasizes long-term customer obsession over market noise, with Bezos noting the company’s stronger fundamentals and highest-ever American Customer Satisfaction Index score of 84 for a service firm.