this post was submitted on 19 Jan 2025
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We must have a wildly different definition of "barely profitable". Half a billion in 2004 money is a lot of profit, a billion back to back in 2009 and 2010 is a lot of profit.
I think you're confusing Amazon with the next generation of loss-leader companies. Let's talk Uber, let's talk Twitter, if we want to point at "hugely unprofitable" companies. But Amazon is a beast of its own, they have a very coherent financial story. Even during their money-losing decade they posted insane results, frequently multiplying revenue while barely increasing operating costs.