If we can arrange things in such a way that our interests are aligned with our customers, then in the long term that will work out really well for customers and it will work out really well for Amazon.

Our judgment is that relentlessly returning efficiency improvements and scale economies to customers in the form of lower prices creates a virtuous cycle that leads over the long term to a much larger dollar amount of free cash flow, and thereby to a much more valuable Amazon.com.

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.

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.

I think one of the things people don't understand is we can build more shareholder value by lowering product prices than we can by trying to raise margins. It's a more patient approach, but we think it leads to a stronger, healthier company. It also serves customers much, much better.

You don't want to negotiate the price of simple things you buy every day.