Other than maybe 2 or 3 years, Amazon has been cash flow positive pretty much throughout its existence (and the negatives in those 3 years added up to less than

Other than maybe 2 or 3 years, Amazon has been cash flow positive pretty much throughout its existence (and the negatives in those 3 years added up to less than a couple of millions). That’s absolutely not true for these companies. One of the most underrated aspects of Amazon is Bezos’s realization that he didn’t need profits to make a lot of money as long as his cash flow was positive. It gave him tremendous flexibility because he could spend a lot more than his competitors, and as an added bonus, it reduced his tax bill significantly.