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by bumholio 2899 days ago
>Standard Oil probably had real oil (asset) and Amazon now has an inflated valuation based on potential future earnings. Apple to Oranges

Amazon has a dominant market position in online sales. It's not a natural resource but it a position that affords it strong economies of scale and, eventually, monopoly rents, just like those earned by Microsoft, Facebook or Google in their markets.

Network effects are the oil of our age.