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.

The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.

The question really is, are you improving the world? And you can do that in many models. You can do that in government, you can do that in a nonprofit, and you can do it in commercial enterprise.

We hold as axiomatic that customers are perceptive and smart... But there is no rest for the weary.

Real estate is the key cost of physical retailers. That's why there's the old saw: location, location, location.

On the Internet, companies are scale businesses, characterized by high fixed costs and relatively low variable costs. You can be two sizes: You can be big, or you can be small. It's very hard to be medium. A lot of medium-sized companies had the financing rug pulled out from under them before they could get big.