Another problem Amazon may face over the next few years is the repayment of the $75 million credit facility. They are plowing through cash quickly and could use it up in little time at all. They are required to pay it back in three years. However, they admit they will not be generating profits or cash for several years due to the costs of expansion.
Therefore Amazon will need to raise cash by a public offering or perhaps do a deal with a partner who has cash. The public offering route could be a problem if the U.S. economy enters a recession over the next few years. Such a scenario would probably result in default on the credit facility leading to bankruptcy or a distressed buyout at bargain basement prices.
I am not saying that this will occur, but given one of the longest bull markets in U.S. history, it is a possible scenario.