> Right now AMZN is worth something because it is believed that it can be sold to the next person for more than was paid to the previous holder. This is not th

> Right now AMZN is worth something because it is believed that it can be sold to the next person for more than was paid to the previous holder. This is not the reason AMZN is worth something at all. The reason is because 1. assets > liabilities and 2. it's a business that generates a stream of net income. And this is independent from what the stock market thinks AMZN is worth. For example, if the stock market thought AMZN was worth zero, you could buy the entire company for nothing and liquidate it for a profit, or keep it running and pocket the business profits, so it would still be worth something.