Amazon’s Profits Don’t Exist, but the Company Keeps on Keeping On ⇥ slate.com

Matthew Yglesias for Slate:

It means that Wall Street is on board with an Amazon business strategy that doesn’t require it to actually make profits as long as it increases sales volumes. And if you’re in any line of business where you compete with Amazon — and Amazon is in a lot of businesses, and seems to get into new ones each year — that should terrify you.

It’s a strange world where Apple can post record profits and it causes a giant drop in their stock, yet Amazon’s shareholders are totally cool with that company posting massive losses.