One Of The Things It Was Obvious

I'm Skeptical That The Novel Will Be 're-invented.'

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.

I Think One Of The Things People Don't Understand Is We Can Build More Shareholder Value By Lowering Product Prices Than We Can By Trying To Raise Margins. It's A More Patient Approach, But We Think It Leads To A Stronger, Healthier Company. It Also Serves Customers Much, Much Better.

The Smartest People Are Constantly Revising Their Understanding, Reconsidering A Problem They Thought They’d Already Solved. They’re Open To New Points Of View, New Information, New Ideas, Contradictions, And Challenges To Their Own Way Of Thinking.

We Also Have No Incentive Compensation Of Any Kind. And The Reason We Don’t Is Because It Is Detrimental To Teamwork.