All of AMZN's book value ($7.5B) is from capital surplus - basically after operating for more than 13 years, the only value AMZN added is from its employees buying stock options from them at reduced prices, and then selling higher on the market to pumpers and idiots. This is a scam ..
(1) AMZN issues millions of options to its employees and pays them far below market wages
(2) Amaz delivers extraordinary growth by selling at cost and not having to pay taxes - wipes out traditional for profit ma and pops that need to pay taxes
(3) AMZN uses its growth to pump to wall street and sets up for ponzi with analysts and funds - these companies continue to sell the hype to retail investors
(4) AMZN stock soars to levels more rediculous than the 2000 tech boom, which allows employees to sell options at massive gains, making them not care about their terrible salary and delivers billions to the AMZN treasury (this is wealth sucked from the retail investor to further the scam)
(5) AMZN uses the option cash from employees to "invest" in more break even growth opportunities continuing the cycle over the again.