this post was submitted on 03 Nov 2023
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Amazon execs destroyed years of evidence before FTC action, agency says (www.seattletimes.com)
submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Amazon execs destroyed years of evidence before FTC action, agency says::Amazon allegedly destroyed communications, turned controversial programs on and off, and knowingly raised prices for consumers, according to unsealed documents.

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[–] Squizzy@lemmy.world 1 points 10 months ago (1 children)

Why would you think that it isn't profitable?

[–] lutillian@sh.itjust.works 10 points 10 months ago* (last edited 10 months ago) (1 children)

Because they sell the bulk of their products at a loss. They use their webservices platform to bankroll their retail platform so they can undersell even Walmart. Some years it does turn a slight profit but generally it's fairly negative but no matter what it doesn't offset the pure profit that is the web services division. https://ir.aboutamazon.com/quarterly-results/default.aspx

[–] ammonium@lemmy.world 3 points 10 months ago* (last edited 10 months ago) (2 children)

Serious question, why do they then even bother with the retail platform?

[–] lutillian@sh.itjust.works 16 points 10 months ago

If I had to guess, to achieve the ultimate conclusion of the Walmart plan, squash every other retailer in the nation and then raise prices.

[–] SchizoDenji@lemm.ee 4 points 10 months ago

Brand awareness, data metrics, upselling their shitty amazon choice products.