Amazing how persistent this myth is. 
Amazon has 30%+ gross margin. Profits go into capex. @asymptosis https://evonomics.com/amazon-accounting-corporate-profits-rich-peoples-income-invisible-bezos/ …pic.twitter.com/nPqfOcvvG1
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So it's just a coincidence that net earnings are always approximately zero?
No, that's intentional. But it has nothing to do with low prices. Amazon makes a health gross margin. It has to do with capex.
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So w zero capex, earnings wd be 4-6% of revs. Calc from this, typic gross capex for general retail is more like 12%. http://www.stern.nyu.edu/~adamodar/pc/datasets/capex.xls …
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