> That’s because Amazon, as best I can tell, is a charitable organization being run by elements of the investment community for the benefit of consumers. The shareholders put up the equity, and instead of owning a claim on a steady stream of fat profits, they get a claim on a mighty engine of consumer surplus.
Matthew Yglesias did in 2013.
https://slate.com/business/2013/01/amazon-q4-profits-fall-45...
> That’s because Amazon, as best I can tell, is a charitable organization being run by elements of the investment community for the benefit of consumers. The shareholders put up the equity, and instead of owning a claim on a steady stream of fat profits, they get a claim on a mighty engine of consumer surplus.
And while it was a good quip it might not have became so famous if Bezos didn't quote him unattributed a few months later in a letter to shareholders. https://slate.com/business/2013/04/amazon-as-corporate-chari...