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Amazon made $1 billion through secret price raising algorithm -US FTC
(www.reuters.com)
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this post was submitted on 03 Nov 2023
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What’s even wilder is that Amazon made no profit for the first 20 years of its existence, something the Feds claim makes Amazon even more dangerous as they spent considerable time building their network and have now turned on full money making mode.
That was just creative accounting so they wouldn't have to pay tax.
Oh... this huge pile of revenue? That's not profit. We're reinvesting it into logistics and executive salaries. We lost money this year. -Amazon
Do you mean Amazon the website? Surely they were making money somehow…
It means for the first 20 years they spent all of their profit on expansion / R&D
profit =/= revenue
I mean Amazon the company:
https://www.ibtimes.com/amazon-nearly-20-years-business-it-still-doesnt-make-money-investors-dont-seem-care-1513368
https://www.forbes.com/sites/jonmarkman/2017/05/23/the-amazon-era-no-profits-no-problem/
https://www.nytimes.com/2023/02/02/business/amazon-earnings.html
https://qz.com/987559/charted-amazons-amzn-profitless-path-to-world-domination-over-the-past-20-years
https://www.ben-evans.com/benedictevans/2014/9/4/why-amazon-has-no-profits-and-why-it-works
Happy reading