People used to say Amazon was a business that had to drive out competition then raise prices to be profitable. But that business is actually ridesharing.
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Bezos stole that business from eBay (very hard to do that with a Network effects biz) by vertically integrating. Amazon 1st party, mostly, is loss leaders and brands who have the leverage to force amazon to buy. 3rd party is the money maker and since it's a Network effects biz,
It needs the market share in order to be valuable to the customer and subsequently profitable. Therefore I disagree with your original statement.