Do Amazon ads bring in more cash than AWS? — Benedict Evans
ben-evans.com · 809 words · saved by 1 readers
Does Amazon make more money from ads than AWS? Quite possibly.
Are Amazon ads worth more than AWS? There’s an old and common narrative around Amazon that it doesn’t make money, it sells below cost, it’s subsidised by investors and in particular it’s subsidised by AWS. People tend to repeat these to each other as though they’re unquestionably true, but they’re either debatable or objectively false - for example, Amazon hasn’t raised money directly from investors since the IPO in 1997, though it does pay people a lot of stock (Lina Khan made this mistake in her otherwise excellent paper on the challenges Amazon poses to competition theory). AWS is particula
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