What Does Amazon Want to Be When It Grows Up?

Facing Staggering Losses, the Confused Online Business Can’t Afford to Be All Things to All People

Amazon recently announced a staggering $437 million loss over the third quarter. This three-month period included the disastrous introduction of its new smartphone, a misstep for which the company has already had to incur a $170 million write-off. But the bulk of the quarter’s loss amounted to business as usual: Amazon overspending and discounting to make customers happy (and more numerous).

The traditional call public companies hold to discuss their results with outside observers and shareholders was a somber affair, with Amazon CFO Thomas Szkutak doing his best to express contrition, …