For a while now, I’ve been posting an analysis of Amazon’s results every quarter, as a Twitter thread. Twitter threads are over and it should be a blog anyhow: https://www.tbray.org/ongoing/When/202x/2023/02/03/Amazon-Q4-2022

Tl;dr: Amazon retail loses money and is subsidized by AWS and Advertising, big-time. Which is either irrational or unfair or both.