AS BIG tech companies face a brutal slow-down the hunt is on for new areas of expansion. Amazon, which is now America’s second-biggest business by revenue, is a case in point. In the final quarter of 2022 its sales are expected to expand by just 6.7% year on year. Last week, on November 17th, Andy Jassy, the firm’s chief executive, confirmed that it had begun laying off employees and would continue to do so next year. Mr Jassy said it was the most difficult decision he had made since becoming boss. But he also noted that “big opportunities” lay ahead. One that he highlighted is
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