[Rambunctious]

The lynchpin of this "logical argument" appears to be a Business Standard article that references a Morgan Stanley report that says FK is 4 times as big as AMZN in GMV. While neither of the two authors (and us included) may have the "raw data" that Morgan Stanley supposedly has at its command, we don't need to be geniuses to understand that GMV via exclusive deals with one phone manufacturer after another can only buy so much PR runway.

What really matters is the bottomline. As Buffett would say, it's only when the tide goes out (or in this case, when the funding tap runs dry), do you discover who's been swimming naked. Having said that as a consumer, less competition means less deals. So, I do hope all the shopping sites have their swimming trunks on :)