"We begin by asking: why has Amazon been valued at such high multiples and experienced such remarkable share price performance when, by most traditional metrics, especially reported net income and EPS, its operating results appear lackluster at best?" https://sci-hub.tw/10.1111/jacf.12192 …
Do you have a good sense of what this R&D is spent on? It's tax efficient to call as many expenditures R&D as possible. Both because of the following tax break, and the standard avoidance of the creation of depreciating assets instead of expenses. https://en.wikipedia.org/wiki/Research_%26_Experimentation_Tax_Credit …
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I don't. I remember reading it was mostly Technology & Content.
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Dang, would be great to understand the specific expenditures better.
End of conversation
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