Jeff Bezos Is Genius Who Helped Benefit Himself And The World With Amazon, VC Says: 'The Beneficiary Is The Consumer'

Venture capitalist Tim Draper has invested in companies such as Hotmail, Skype, Tesla and SpaceX over the years. While he's never invested in Amazon.com Inc AMZN, he couldn't help but praise founder Jeff Bezos for changing the world.

Capitalism for Good: Draper is best known for his focus on Bitcoin these days. The venture capitalist said he wants to be useful and help drive Bitcoin forward, something that keeps him motivated to keep working.

During a recent appearance on "The Raz Report" podcast with Benzinga founder Jason Raznick, Draper said he hopes Bitcoin makes it so that billions of people who aren't part of the world economy can participate.

Draper explained that Amazon founder Jeff Bezos is super rich thanks to Amazon, but he also has made many people's lives better with the company he created.

"Amazon has made all of our lives so much better," Draper said.

Draper said he has benefitted from what Bezos has done and that's a part of the world economy that isn't spoken about enough.

"Those geniuses who create this incredible world for us are benefitting all of us."

Draper said this is part of capitalism where the inventors benefit but the consumers also win.

"We're better off because of it,” he said, adding, "I benefit hugely from what Jeff Bezos has done.”

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Why It's Important: Draper used the reference to Bezos to compare to Bitcoin. The venture capitalist said this is the same with Bitcoin as he hopes that he can be a figure that helps the world economy with the leading cryptocurrency.

This is what drives Draper and keeps him working rather than sitting on a beach retired.

Draper said he funded Hotmail, which helped people send free emails around the world. He funded Skype which gave people the ability to use video to connect. His funding of Tesla helped consumers have electric vehicles and not have to settle for traditional gas vehicles.

While Draper made money on all these investments, he said it's important to see capitalism at work.

"The beneficiary is not just the one who made money. The beneficiary is the consumer."

Watch the full interview with Tim Draper below.

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