I Don't Buy Stocks, I Make Stocks.

Effective Process Is Not Bureaucracy. Bureaucracy Is Senseless Process.

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.

There Is No Map, And Charting A Path Ahead Will Not Be Easy. We Will Need To Invent, Which Means We Will Need To Experiment.

If You Don't Understand The Details Of Your Business You Are Going To Fail.

The Three Most Important Things In Retail Are Location, Location, Location. The Three Most Important Things For Our Consumer Business Are Technology, Technology, Technology.