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Because they're dependent on selling hardware, not software. It's not rocket science, hardware doesn't scale as easily as software, so it leads to a smaller multiplier.


And amazon has 125,000 employees running their supply chain. I wouldn't call that 'easy to scale' either.


And amazon barely makes any profit, so its not clear that their business actually does scale, if they didn’t have AWS.


AWS is their business and it certainly scales. Their goal in retail is market dominance through convenience and that still costs a ton of money. AWS does not cost a ton of money.


Their goal is not to make a profit or they would be


Amazon is not just moving goods, they have AWS as well and that scales very well.


Not more? Wikipedia claims Amazon has 647,500 employees.




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