If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.

If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.

We've done price elasticity studies, and the answer is always that we should raise prices. We don't do that, because we believe -- and we have to take this as an article of faith -- that by keeping our prices very, very low, we earn trust with customers over time, and that that actually does maximize free cash flow over the long term.

A company shouldn't get addicted to being shiny, because shiny doesn't last.

You have to use your judgment. In cases like that, we say, 'let's be simple minded. We know this is a feature that's good for customers. Let's do it.

For every leader in the company, not just for me, there are decisions that can be made by analysis. These are the best kinds of decisions!

I have a strongly held belief that one of the reasons that Amazon has been successful is because we do not obsess over competitors. Instead we obsess over customers.