We've got thousands of investors counting on us. And we're a team of thousands of employees all counting on each other. That's fun.

We were hoping to build a small profitable company; and of course, what we've done is build a large, unprofitable company.

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

What I want to talk to you about today is the difference between gifts and choices. Cleverness is a gift, kindness is a choice. Gifts are easy - they’re given after all. Choices can be hard. You can seduce yourself with your gifts if you’re not careful, and if you do, it’ll probably be to the detriment of your choices.

I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.

I think technology advanced faster than anticipated. In that whirlwind, a lot of companies didn't survive. The reason we have done well is because, even in that whirlwind, we kept heads-down focused on the customers. All the metrics that we can track about customers have improved every year.

Go to bed early and wake up early. The morning hours are good.