Hard knocks have a place and value, but hard thinking goes farther in less time.

There is no man more pusillanimous than I when I am planning a campaign. I purposely exaggerate all the dangers and all the calamities that the circumstances make possible. I am in a thoroughly painful state of agitation. This does not keep me from looking quite serene in front of my entourage; I am like an unmarried girl laboring with child. Once I have made up my mind, everything is forgotten except what leads to success.

Looking ahead, we will compete with technology, but win with people. We will be people-led and tech-empowered.

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 only thing I really think about is: How are we making decisions and getting things done such that Walmart is succeeding and creating value 50 years from now?

If we can keep our competitors focused on us while we stay focused on the customer, ultimately we'll turn out all right.