There are all these things that add up into this business that's Walmart that keeps it really interesting. At the root of it all, though, it's a people business and it's a merchandising business. Today, it's increasingly a technology business. The supply chain is critical, of course, and real estate still plays a key role.

The most coveted workers will always be those with the flexibility to combine soft skills with technical skills.

I think the skills that we have as human beings are valuable. They always have been, and that'll be even more true in the future.

Market leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital.

There are two ways to extend a business. Take inventory of what you're good at and extend out from your skills. Or determine what your customers need and work backward, even if it requires learning new skills. Kindle is an example of working backward.

It's hard to keep things moving. And that's always a big trick. I think for me, the key is setting really big goals. And, you know, with YouTube, I think we've had tremendous leadership, both with the founders and now with Salar, who's been running it.