The Internet doesn't change everything. It doesn't change supply and demand. It doesn't magically allow you to build businesses by turning investors' money into operating expenses indefinitely. The money always runs out eventually.. the Internet doesn't change that, as we have seen.

Girls don't think boys' games are too hard, they think they are stupid.

There's a tendency at the senior and middle-manager level to be too big-picturish and too superficial. There is a phrase, "The devil is in the details." One can formulate brilliant global strategies whose executability is zero. It's only through familiarity with details - the capability of the individuals who have to execute, the marketplace, the timing - that a good strategy emerges. I like to work from details to big pictures.

Investment decisions and personal decisions don't wait for the picture to be clarified.

I think Amazon is the preeminent pioneer in building a new way of doing commerce: personalized, database-driven commerce, where the big value is not in the purchase fulfillment, but in knowing as much about a customer base of ten or twenty million people as a corner store used to know about a customer base of a few hundred. In today's mass-merchandising world, that's largely gone; Amazon is trying to use computer technology to re-establish it.

Success breeds complacency. Complacency breeds failure. Only the paranoid survive.

A fundamental rule in technology says that whatever can be done will be done.