this post was submitted on 02 Aug 2023
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They got investment because they were building a monopoly first. It really just tells you how valuable monopolies are if it wasn't obvious enough already. It's more reason why we can't let monopolies happen.
Like Amazon, which only had net losses for several years (from 1994 to 2002) in order to focus on aggressive growth and outcompeting other similar services by setting excessively low prices on books and media.