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Yes this is creative destruction, but Amazon is able to sell at a loss because Wall St. sees the infinite dollar signs at the end of this road when they’ve lite
by burlesona 9y ago
Yes this is creative destruction, but Amazon is able to sell at a loss because Wall St. sees the infinite dollar signs at the end of this road when they’ve literally killed off all competition. Selling at a loss is anti-competitive and should get them hammered by anti-trust, but somehow the US government has decided that, in this generation at least, monopolies are fine as long as they don’t raise prices.
As a customer I like Amazon, but as a citizen they deeply worry me.
- criddell 9y agoDoes Amazon sell at a loss? I'm pretty sure they've been profitable for a couple years now. And how could Amazon be a monopoly? They have larger competitors.
- rhinoceraptor 9y agoAmazon has a certain side business that makes most of their profits.
- criddell 9y agoThat may be true, but their retail business still is profitable. Last year they made around $1 billion of profit from selling a lot of stuff ($120 billion in sales).