Were online books so profitable that they were able to fund the conglomerate that is now Amazon? Not really. But it was a platform on which Jeff Bezos built his vision. Making everything convenient and cheaper for customers.
It’s not that hard to see why most of the largest companies in the world are tech. These businesses generate billions in cash, they don’t cost too much to run and they’re reinvesting that cash to dominate existing and new industries. But what’s next?
To be trading at 238-times earnings, you’ve got to have some edge as a company. When it comes to Amazon.com, Inc. [NASDAQ:AMZN], they have multiple.
This app likely won’t be the death of Amazon. However, it is making the brick-and-mortar experience more convenient.