Comes the news that Amazon actually loses money on direct sale of books.
Comes the news that the founder of Amazon basically brags about the strength of his company despite the lack of profits.
This isn't going to end well.
Not that anyone is going to listen to the owner of a small bookstore. But I'll keep saying, this isn't going to end well. The whole business plan is idiotic. But apparently shareholders have bought into it, and as long as they keep believing, the ponzi scheme is intact.
One savvy competitor, one unexpected development, one new technological hack-- and the whole thing will come tumbling down. Billions of dollars will have been churned, hundreds of small bookstores destroyed, untold infrastructure destroyed because of uncollected sales taxes, all for nothing.
The emperor has no clothes.
2 days ago