We See Our Customers As Invited Guests

If You Invent Frequently And Are Willing To Fail, Then You Never Get To That Point Where You Really Need To Bet The Whole Company.

I Think Frugality Drives Innovation, Just Like Other Constraints Do. One Of The Only Ways To Get Out Of A Tight Box Is To Invent Your Way Out.

On The Internet, Companies Are Scale Businesses, Characterized By High Fixed Costs And Relatively Low Variable Costs. You Can Be Two Sizes: You Can Be Big, Or You Can Be Small. It's Very Hard To Be Medium. A Lot Of Medium-sized Companies Had The Financing Rug Pulled Out From Under Them Before They Could Get Big.

If You're Going To Invest In An Internet Stock, You Must Be A Long-term Investor.

We Expect All Our Businesses To Have A Positive Impact On Our Top And Bottom Lines ... Profitability Is Very Important To Us Or We Wouldn't Be In This Business.