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.

What characteristics do I look for when hiring somebody? That's one of the questions I ask when interviewing. I want to know what kind of people they would hire.

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.

Nobody wants to buy a $60,000 electric Civic. But people will pay $90,000 for an electric sports car.

We grew this business with the store operators and the merchants making all the decisions, I got to be one of the merchants and it was a lot of fun. But to put the customer in charge, you have to start with design.

I think that people that shop Walmart frequently and love the brand the most find it very natural to come to us first for e-commerce. But for others that may shop around or not have chosen to shop at Walmart in the past, you get what you earn, and our opportunity to earn their business starts with winning their grocery and consumables basket.