Looking for sensible explanation, page-4

Stil young. Not making money in the early days isn't exclusive to Amazon. These guys became very big very quickly, and that costs money. They have employees to pay, they have a product to promote, they have offices to build, they probably owe money to people and there's probably a host of other expenses that I have no idea about because I'm not in their industry. $2b in sales doesn't equal $2b net profit. It's never that black and white.