I feel like in one year it's very easy to go from Internet poster boy to Internet piсata.

If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people, But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that. Just by lengthening the time horizon, you can engage in endeavours that you could never otherwise pursue. At Amazon we like things to work in five to seven years. We’re willing to plant seeds, let them grow—and we’re very stubborn. We say we’re stubborn on vision and flexible on details.

Lowering prices is easy. Being able to afford to lower prices is hard.

People forget already how much utility they get out of the Internet - how much utility they get out of e-mail, how much utility they get out of even simple things like brochureware online.

We change our tools and then our tools change us.

Because, you know, resilience - if you think of it in terms of the Gold Rush, then you'd be pretty depressed right now because the last nugget of gold would be gone. But the good thing is, with innovation, there isn't a last nugget. Every new thing creates two new questions and two new opportunities.

Mediocre theoretical physicists make no progress. They spend all their time understanding other people's progress.