Amazon.com used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed up prices U.S. households paid by more than $1 billion, the U.S. Federal Trade Commission detailed in a new court filing on Thursday.
Do you mean Amazon the website? Surely they were making money somehow…
It means for the first 20 years they spent all of their profit on expansion / R&D
I mean Amazon the company:
https://www.ibtimes.com/amazon-nearly-20-years-business-it-still-doesnt-make-money-investors-dont-seem-care-1513368
https://www.forbes.com/sites/jonmarkman/2017/05/23/the-amazon-era-no-profits-no-problem/
https://www.nytimes.com/2023/02/02/business/amazon-earnings.html
https://qz.com/987559/charted-amazons-amzn-profitless-path-to-world-domination-over-the-past-20-years
https://www.ben-evans.com/benedictevans/2014/9/4/why-amazon-has-no-profits-and-why-it-works
Happy reading
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profit =/= revenue