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  "note": "I love the visual in this article breaking down the components of Amazon's financials. AWS is now 50% the size of the Amazon.com business, and is contributing a big chunk of the profit. It reports a 34% margin. Wasn't it Jeff Bezos who coined the saying \"Your margin is your competitions opportunity.\"? The problem in this hyper scale cloud environment is the capital required to run a business like this is ridiculous. And there is no way that other companies can acquire capital as cheaply as Amazon.",
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