686
Amazon made $1 billion through secret price raising algorithm -US FTC
(www.reuters.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 03 Nov 2023
686 points (98.7% liked)
Technology
59415 readers
1777 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
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
profit =/= revenue
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