# The Lesson That Cost Me Millions (And Why I'm Betting Big Again)

There's a painful investor memory I can't shake: selling Amazon in 2014 because I hated the Fire Phone idea. Spoiler alert? Amazon became a 14-bagger after I bailed.

Here's what I got dead wrong: mistaking one failed product (the phone flopped, I was right about that) for a company losing its edge. What I missed was that founder-led companies like Amazon thrive *because* they take swings. Some miss. But when they hit (AWS, Prime, Whole Foods)? Game over.

The real lesson wasn't about Amazon—it was about patience with founder-led companies executing long-term visions.

Fast forward to 2023. I'm holding **TransMedics (TMDX)**, which makes life-support systems for organ transplants. Stock's up early. Then boom—they acquire an aviation company. Market hated it. Stock got cut in half. My gut screamed "sell."

But I remembered Amazon.

I held. Two years later? Stock tripled from the lows. The aviation network they built now handles 78% of their organ transplants. Revenue is up over 2x. Free cash flow margins exploded. The "bad" acquisition became the backbone of their logistics empire.

They're targeting 10,000 transplants (from current levels), plus kidney donations + international expansion. Sure, there are risks. But I'm giving founder Waleed Hassanein the same rope I wish I'd given Bezos.

Warren Buffett said it best: "It's good to learn from your mistakes. It's better to learn from other people's mistakes." I already learned this lesson the expensive way. Not repeating it.