FYI: "The losses were a lot bigger than expected.”
Mary Meeker said this on a podcast called Land of the Giants, an excellent six-part series on the rise of Amazon.
What she was referring to were the losses Amazon experienced in its first *21 quarters as a public company*. Over that time, cumulative net income was -$2.86 billion.
As bottom line losses piled up, top line growth averaged a blistering 229%. Amazon went from trading over 40 times sales at its peak to 3.5 today.
Regards,
Ted
https://theirrelevantinvestor.com/2019/08/29/the-rise-of-amazon/
