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I thought this was a pretty good article on Slate, appropriately titled "Amazon Is a Black Hole Threatening To Devour Corporate America":

This quote from the article pretty much says it all:

"...Wall Street is on board with an Amazon business strategy that doesn't require it to actually make profits as long as it increases sales volumes. And if you're in any line of business where you compete with Amazon -- and Amazon is in a lot of businesses, and seems to get into new ones each year -- that should terrify you."

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