You want to look at what other companies are doing. It's very important not to be hermetically sealed. But you don't want to look at it as if, 'OK, we're going to copy that.' You want to look at it and say, 'That's very interesting. What can we be inspired to do as a result of that?' And then put your own unique twist on it.

If you're going to invest in an Internet stock, you must be a long-term investor.

If you want to be inventive, you have to be willing to fail.

The world is littered with corpses that predicted technology in a particular arena was done. If there's another gigantic step change out there, we don't yet know what it is.

All businesses need to be young forever. If your customer base ages with you, you're Woolworth's.

People who are right most of the time are people who change their minds often

If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.