AWS generates cash and lets the rest of Amazon operate less profitably. Investors are sufficiently impressed by Bezos's innovations (Prime, AWS itself, Kindle b

AWS generates cash and lets the rest of Amazon operate less profitably. Investors are sufficiently impressed by Bezos's innovations (Prime, AWS itself, Kindle books and Amazon Video+Music, recent price shifts at Whole Foods) that they're willing to go along for the ride. And I don't mean that necessarily negatively: they see Bezos as a visionary in a market he's helping to define.