Effective process is not bureaucracy. Bureaucracy is senseless process.

The Internet is disrupting every media industry...people can complain about that, but complaining is not a strategy. And Amazon is not happening to book selling, the future is happening to book selling.

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

One of the things it was obvious you could do with an online store is have a much more complete selection.

Percentage margins are not one of the things we are seeking to optimize. It’s the absolute dollar free cash flow per share that you want to maximize, and if you can do that by lowering margins, we would do that. So if you could take the free cash flow, that’s something that investors can spend. Investors can’t spend percentage margins.

I strongly believe that missionaries make better products. They care more. For a missionary, it's not just about the business. There has to be a business, and the business has to make sense, but that's not why you do it. You do it because you have something meaningful that motivates you.

It's not an experiment if you know it's going to work.