Benedict Evans on Amazon's Profits

Speaking of Ben Evans and Amazon back in August1, when Amazon was the hot topic of discussion amongst the small circles we tend to frequent, he neatly and concisely explained many of the mysteries surrounding the company. For instance, why does Amazon turn nearly zero profit? And why, for crying out loud, do so many have such considerable faith in this curious company?

This should give you a general idea as to how good I am at keeping up with my Instapaper queue.