If you're going to invest in an Internet stock, you must be a long-term investor.

If we can keep our competitors focused on us while we stay focused on the customer, ultimately we'll turn out all right.

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.

What consumerism really is, at its worst is getting people to buy things that don't actually improve their lives.

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

It is very difficult to get people to focus on the most important things when you're in boom times.

Obsess about customers, not competitors.