Cleverness is a gift, kindness is a choice. Gifts are easy-they're given after all. Choices can be hard.

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

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.

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.

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.

Your margin is my opportunity.

The great thing about fact-based decisions is that they overrule the hierarchy.