Some analysis here that I just don’t agree with. > [summarized] Amazon didn’t turn a profit until 2003 That was 100% by design. Why make profits when you can

Some analysis here that I just don’t agree with. > [summarized] Amazon didn’t turn a profit until 2003 That was 100% by design. Why make profits when you can grow? Profits are taxed. Reinvesting in growth is generally not taxed, and you are rewarded by the market as it projects out how long your growth could continue and reflects that in your stock price. To be fair, the idea that you might buy a stock for something other than its likely dividend and that this wouldn’t just be a momentum trade is an idea that was finally cemented somewhere in the dotcom 1/dotcom 2 era. Still.