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Sort of.
I have purchased less than 20 ebooks from Amazon in the 16 months I've had a Kindle. Given that I read a book every two to three days on average that is a substantial loss for them.
Cost and DRM have kept me from even considering purchasing Amazon ebooks. If there is a book I absolutely have to have I will purchase the paper version rather than the ebook version since with the paper version I keep my ownership rights to sell or loan it to others and do not have to worry about being harnessed to a single device.
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