This guy has completely missed the point. Shareholders like high margins. Amazon made some moves last year that depressed their margins, specifically releasing

This guy has completely missed the point. Shareholders like high margins. Amazon made some moves last year that depressed their margins, specifically releasing the kindle fire, which they're selling at a loss, and price-beating brick and mortar stores with gift cards over the holidays to lure away customers. These moves have nothing to do with a loss of efficiency in their EGM business, but they do produce the smaller profits we see. What the author mistakenly sees as a loss of efficiency is actually amazon future-proofing their business. Knowing that the market would punish them for taking all this profit and reinvesting it in growth, they went all in and took all the punishment at once. Amazon has bright days ahead.