In 2001, with Amazon stock in the dumps and the company raising prices to reach profitability, Jeff Bezos had a coffee with Jim Sinegal at a Barnes & Noble Starbucks in Bellevue. Sinegal explained Costco's philosophy of always working to charge customers less. The next day, Bezos reversed Amazon's price-increase policy and declared: 'There are two types of companies — those that work hard to charge more, and those that work hard to charge less. Amazon is the latter.'