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Many Of The Traits That Make Amazon Unusual Are Now Deeply Ingrained In The Culture. In Fact, If I Wanted To Change Them, I Couldn't. The Cultures Are Self-reinforcing, And That's A Good Thing.

If You Are Going To Do Large-scale Invention, You Have To Be Willing To Do Three Things: You Must Be Willing To Fail; You Have To Be Willing To Think Long Term; And You Have To Be Willing To Be Misunderstood For Long Periods Of Time.

We've Done Price Elasticity Studies, And The Answer Is Always That We Should Raise Prices. We Don't Do That, Because We Believe -- And We Have To Take This As An Article Of Faith -- That By Keeping Our Prices Very, Very Low, We Earn Trust With Customers Over Time, And That That Actually Does Maximize Free Cash Flow Over The Long Term.

If We Think Long Term, We Can Accomplish Things That We Couldn't Otherwise Accomplish.

Above All Else, Align With Customers. Win When They Win. Win Only When They Win.