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.

One of the technology leaders, a few years ago, was visiting with me here and we were writing on the whiteboard and they stopped and turned around and looked at me and said, "Oh my God, you're going to win." And I said, "Yeah, but why?". "Now, tell me how".

The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.

For a lot of companies, it's useful for them to feel like they have an obvious competitor and to rally around that. I personally believe it's better to shoot higher. You don't want to be looking at your competitors. You want to be looking at what's possible and how to make the world better.

Invention is not enough. Tesla invented the electric power we use, but he struggled to get it out to people. You have to combine both things: invention and innovation focus, plus the company that can commercialize things and get them to people.

Customers want to save money and time and have the broadest assortment of items, and we think that by bringing e-commerce and digital capabilities together with the stores, we can do things that a pure e-commerce player can't.