We cannot, don't want to, and won't let ourselves walk away from opening price points and customers that depend on us for low prices. That's foundational.

If everything you do needs to work on a three-year time horizon, then you're competing against a lot of people. But if you're willingto invest on a seven-year time horizon, you're now competing against a fraction of those people... Just by lengthening the time horizon, you can engage in endeavors that you could never otherwise pursue. At Amazon we like things to work in five to seven years. We're willing to plant seeds, let them grow-and we're very stubborn. We say we're stubborn on vision and flexible on details.

Most big technology companies are competitor focused. They see what others are doing, and then work to fast follow. In contrast, 90 to 95 percent of what we build in AWS is driven by what customers tell us they want.

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.

Part of our brand is that we're pretty understated in what we do. If you look at other technology companies, they might preannounce things, and it will be a couple years before they really happen, and they don't happen in the way they said they would.

What I would like to do is to leave behind a sustainable entity of a set of companies that operate in an exemplary manner in terms of ethics, values and continue what our ancestors left behind.