We're not competitor obsessed, we're customer obsessed. We start with the customer and we work backwards.

If you look at academic studies, you can see that stock prices are most closely correlated with cash flow. It's such a straightforward number. Cash flow is what will drive shareholder returns.

We like to pioneer, we like to explore, we like to go down dark alleys and see what's on the other side.

Things never go smoothly.

If you invent frequently and are willing to fail, then you never get to that point where you really need to bet the whole company.

Your margin is my opportunity.

One of the things that I hope will distinguish Amazon.com is that we continue to be a company that defies easy analogy. This requires a lot of innovation, and innovation requires a lot of random walk.