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by blagie
930 days ago
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Amazon was losing money for nearly the first decade of its existence. It was a bit of a laughing stock among the traditional business community: "Lose money on every sale, but make it up in volume!" The loses were considered astronomical at the time; in 2000, it lost over a billion dollars. The strategy was the right one, though. To put all of that in perspective, in 2018, it earned over 10 billion, and many businesses have since followed the Amazon model. It's sort of a classic case study in business schools now. |
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