Amazon.com, Inc. is the largest Internet retailer in the world. The company is valued at $1 trillion and founder Jeff Bezos is the richest individual in history, with a personal net worth of $150 billion. So, the average person might be surprised to learn that Amazon.com ran at a loss for many years — and that all the losses were according to plan.
Stacy Mitchell, co-director of Institute of Local Self-Reliance, outlines Amazon’s path to record-breaking wealth and power in the video below. It’s a “story about the failure of antitrust policy to protect competition.”
…Amazon says its platform is a place where entrepreneurs can ‘pursue their dreams.’ But in reality, the relationship is often predatory. Studies have found that Amazon watches what sellers are doing and then often starts selling their most popular items itself…
~ Senator Bernie Sanders Youtube channel
In case you’re wondering how a company can run at a loss for years, without failing, take a look at the CNBC article linked below.
Both public and private companies often find that they can run at a loss, as long as they either generate cash or have a plausible plan for it. The key is to know where the money to cover the losses will come from and to understand the conditions, either formal or informal, that financiers are demanding in order to keep the credit or equity investment flowing.
~ Tim Mullaney
Antitrust Regulations are Good for the Little Guy