Amazon.com, Inc. (NASDAQ:AMZN) has the largest e-commerce store in the world and offers delivery, cloud, music, payments and other services.
It is the “everything store,”
But now the online sales giant trying to diversify into just about every imaginable field and the company’s financials not good.
In 2019, Amazon tried build 3,000+ satellites in low Earth orbit to provide high-speed internet through Project Kuiper, with an estimated cost $10 billion.
Amazon received regulatory approval for the project (FCC approval), but has yet to launch its first satellites.
The reality is that the internet provider business is a low-margin, capital intensive one, and Amazon is spinning its wheels.
It’s an exciting project, but from a business perspective, it really isn’t like the kind of thing you’d want to bet this much money on.
