Yamaha's logo is three tuning forks. Always cracks me up seeing that on a dirtbike.
That is the exact problem Steve Yegge described [1]. Americans has a world view that equals to America. Amazon doesn't even compare with Samsung in vertical integration.
And in terms of diversity, it doesn't even need to be Korea Chaebol, dozens of other East Asia conglomerate are way more diverse than Amazon.
[1] https://steve-yegge.medium.com/hurricane-china-how-to-prepar...
2021 Amazon has AWS, which is hugely cash generative... hence the growing cash balance. They can't invest faster than it accumulates. Financially, they're like Apple, Google, Etc. now.
Also, "capital intensive" is relative. Warehouse's investment numbers tend to be publicized, because politics. A big one is $200m, and that's a "media story" number which may be higher than the real, "capital investment" amount.
Company valuations are one thing, but $10bn is a lot of capital. It's hard to actually invest that much. That's why the big software companies have so much of the damn stuff.
The way I see it, Amazon, as a growth machine, keeps its growth options (organic/inorganic) open and when sees an opportunity for inorganic growth they will go for it. The most recent example being their acquisition of Whole Foods. They were anyway investing in growing their brick-and-mortar presence and opportunistically acquired Whole Foods to fast-track it.
Relatedly, Amazon has to be one of the most diverse corporations ever. From AWS to media studio. Which other corporations come close?