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By coincidence today's Times has an article on Amazon's investing strategy:

On the face of it Amazon's interest in plowing profits into corporate
development rather than dividends makes sense in corporate terms, and has
historical precedent.

On the other hand, as explained in Nick Srnicek's "Platform Capitalism,"
such development won't exempt Amazon et al. from the pressures of
capitalist competition.

P.S. I'm glad the article mentions cloud computing, the focus of Amazon Web
Services. For all the coverage of consumer purchasing, AWS is more
significant for Amazon's desire to be a dominant player in the economy.
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