So for the first 20 years or 2/3 of the entire history of the company, they were unprofitable or barely profitable.
We must have a wildly different definition of “barely profitable”. Half a billion in 2004 money is a lot of profit, a billion back to back in 2009 and 2010 is a lot of profit.
I think you’re confusing Amazon with the next generation of loss-leader companies. Let’s talk Uber, let’s talk Twitter, if we want to point at “hugely unprofitable” companies. But Amazon is a beast of its own, they have a very coherent financial story. Even during their money-losing decade they posted insane results, frequently multiplying revenue while barely increasing operating costs.
We must have a wildly different definition of “barely profitable”. Half a billion in 2004 money is a lot of profit, a billion back to back in 2009 and 2010 is a lot of profit.
I think you’re confusing Amazon with the next generation of loss-leader companies. Let’s talk Uber, let’s talk Twitter, if we want to point at “hugely unprofitable” companies. But Amazon is a beast of its own, they have a very coherent financial story. Even during their money-losing decade they posted insane results, frequently multiplying revenue while barely increasing operating costs.