If you think about the long term then you can really make good life decisions that you won’t regret later.

Real estate is the key cost of physical retailers. That's why there's the old saw: location, location, location.

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

I think one of the things people don't understand is we can build more shareholder value by lowering product prices than we can by trying to raise margins. It's a more patient approach, but we think it leads to a stronger, healthier company. It also serves customers much, much better.

But there's still so much you can do with technology to improve the customer experience. And that's the sense in which I believe it's still Day One, and that it's early in the day. If anything, the rate of change is accelerating.

We are pioneers and the history of pioneers is not that good.

There'll always be serendipity involved in discovery.