Amazon: Wild Margin Expansion - App Economy Insights

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.