Amazon marketplace trends
A programming note: We are heading towards a pretty packed earnings week. As a reminder, I will cover only one company’s earnings every day.
Topic
AMZN
A collection of 66 issues
Amazon's robot army
Back in June 2025, WSJ reported that while the average number of employees per Amazon facility continues to go down every year, the number of packages that Amazon ships per employee each year has increased from 175 in 2015 to almost 4,000 in 2025.
Amazon's "unfair" advantage in advertising
Amazon started disclosing their advertising revenue from 4Q’21. Before 4Q’21, their ad revenue was “hidden” in “other” segment.
Amazon's Ambition in Groceries: Part 2
Part 1 of this series can be read here Doug Herrington, the current CEO of Amazon Retail, became part of the S-team at Amazon in 2011. Herrington has been a key figure to push Amazon to groceries.
The Promise and Pitfall of Agentic Commerce
We are entering the age of agentic commerce, where autonomous AI agents, acting as our digital deputies, will navigate the endless aisles of online stores, evaluating products and making purchases on our behalf.
Amazon's Ambition in Groceries: Part 1
Back in 2023, Terry Smith from Fundsmith wrote the following as their rationale to exit their position in Amazon (emphasis mine): Relatively new CEO Andy Jassy enunciated some principles of investment which investment projects had to have, namely: 1.
Digital Advertising Snapshot, Corpay 2Q'25, Portfolio Change
Digital Advertising Snapshot As is the tradition in every earnings season, I am sharing my digital advertising Snapshot after 2Q’25 earnings. Three key takeaways: For the nine consecutive quarters, Meta has outpaced Google in terms of incremental share.
Some notes from Big Tech 10-Qs
I went through Meta, Amazon, and Alphabet’s 10-Qs during this weekend, so just wanted to highlight some interesting points from their 10-Qs. Meta 2Q’25 10-Q Both Alphabet and Meta now disclose total employee compensation expenses.
Amazon 2Q'25, Portfolio Change
A programming note: For my next Deep Dive, I am currently working on Union Pacific which I will publish sometime later this month. After Union Pacific, I will do a Deep Dive on ASML in September.
Video on NotebookLM, Amazon's response to WSJ, Brown & Brown 2Q'25
I have been using NotebookLM pretty frequently for the last 6 months or so. It’s pretty neat to feed a report to NotebookLM and make a podcast out of it which I can then listen during my daily walk.