> It made the company look overvalued I think this was and still is a common misconception, and the interesting thing is that Bezos has talked for a long time

> It made the company look overvalued I think this was and still is a common misconception, and the interesting thing is that Bezos has talked for a long time about how they are not (and should not) be optimizing for profit, and that they are looking at free cash flow as their One Metric That Matters. Here's an old shareholder letter from 2004 where Bezos explains his reasoning: https://www.sec.gov/Archives/edgar/data/1018724/000119312505070440/dex991.htm https://www.sec.gov/Archives/edgar/data/1018724/000119312505... A summary on this misconception from Vox: https://www.vox.com/recode/2019/8/21/20826405/amazons-profits-revenue-free-cash-flow-explained-charts https://www.vox.com/recode/2019/8/21/20826405/amazons-profit...