Amazon's Bezos defends heavy investments in Prime, Kindle
Amazon Chief Executive Jeff Bezos today defended the company's stance on heavy investments in certain areas, saying it's focused on its customers, not its rivals, and that it believes its strategy is the best for the long term.
For years, Bezos has demonstrated a preference for plowing resources into initiatives to build market share but take years to generate profits. That seeming indifference to near-term profits worries Wall Street, with many expressing reservations over the years about the impact on margins. Amazon is believed to make little, if any, money on its gadgets, instead relying on customers to … Read more