Will You Be Clever At The Expense

Real Estate Is The Key Cost Of Physical Retailers. That's Why There's The Old Saw: Location, Location, Location.

People Loved Their Horses, Too. But You Don't Keep Riding Your Horse To Work Just Because You Love It.

In The Old World, You Devoted 30% Of Your Time To Building A Great Service And 70% Of Your Time To Shouting About It. In The New World, That Inverts

And I Still Buy Books At B&n, Borders And Elliot Bay ... I Probably Shouldn't Admit This. But I Don't Care. I Love Great Bookstores.

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.