We change our tools and then our tools change us.

Percentage margins don't matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.

I believe you have to be willing to be misunderstood if you're going to innovate.

If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.

If there’s one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience.

And I still buy books at B&N, Borders and Elliot Bay ... I probably shouldn't admit this. But I don't care. I love great bookstores.

The balance of power is shifting toward consumers and away from companies The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it.