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Amazon's $40B advertising business

Another Podcast

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What Prompted Amazon to Start Breaking Down What Was in Other?

I remember when you first discovered that chart with Other, and you were just like, we don't know what's in it. Do we know what prompted Amazon to start actually breaking down what was in Other? I just think it became sufficiently large that they were obliged to tell people. There's basically no very little incremental cap because it's sitting on the existing on all the existing infrastructure. If you remove technology R&D, then you get like a 60% operating margin. And so if you apply that to 40, 40 billion dollars, you get whatever it is,. which is roughly the same as AWS. But without AWS is 10 or 20 billion dollars a capex attached to it.

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