There is an argument (I'm not really sure how strong an argument) that this isn't Amazon management's problem, it's investors' problem. Amazon have a strategy

There is an argument (I'm not really sure how strong an argument) that this isn't Amazon management's problem, it's investors' problem. Amazon have a strategy which they believe is for the long term good of the company. Sell cheap, grow market share, get more repeat/prime customers, expand (by investing) into new areas. They've been doing that for a good while now. They're profitable. They don't rely on They're growing. It's articulated and consistent. Investors who believe in it, are welcome to buy stock. Those who don't can sell (at a nice, high price)Evidently many do believe. HN likes to bring up fiduciary duty in these cases, but I don't think that extends as far as some comments suggest. Management can't deceive or steal or funnel money to friends. The board has a responsibility to get rid of incompetent managers. None of that is going on here. When it comes to the strategy of the company and decisions like growing market share vs maximizing profits, I think investors vote with their position more than anything else. Another way of looking at it is that "investor" is not a set thing. Different investors have different philosophies and strategies. The ones that like Amazon's strategy are the ones that own the shares in Amazon.