When you see the words 'Amazon' and 'deal' together, chances are, your ears already perk up. But the association usually involves spending your money judiciously, instead of making lots of it.

It takes until paragraph 15 of the 17-paragraph note for Jassy to get to his point. And it’s a brutal, increasingly familiar one. “As we roll out more Generative AI and agents,” he wrote, “it should ...