Amazon just released their 2019 Annual Report and Letter to Shareholders. I read them both so you don't have to.

Here are a few interesting points I called out:

• As you might expect, it's all about Corona not about 2019.

• Amazon has moved a number of its staff to build its own testing facilities and labs. I haven't heard another company doing that which wasn't doing it before the crisis.

Now the numbers:

• AWS represents 12% of net sales of the entire business. But 63% of the profit. WOW. If you a retailer on AWS and you compete with Amazon, please move to Google or Microsoft Cloud.

• Amazon has closed over 6,000 seller accounts globally due to price gouging.

• Amazon directly employs 840k people worldwide now, that is a massive number. Walmart? 2.2 million. Alibaba? Only 100k. (That's amazing).

• Amazon has 272 million square feet of space devoted to data centers and fulfillment centers globally. That is massive.

• Amazon has 20 million square feet of physical stores, a fact I bet they are happy about at the moment despite many saying they should scale their retail investments faster. (Where are these 20 million?)

• Amazon's international business is only growing at 13% y/y. As opposed to 21% y/y in North America. Both decelerated in 2019.