He expects almost all will eventually make the transition to the cloud, whether to Amazon, Microsoft's Azure, or Alphabet's Google Cloud. Rampant inflation, rising interest rates, and protracted supply chain issues have conspired against businesses trying to put distance between themselves and the lingering effects of the coronavirus pandemic. First, most of Amazon's losses were the result of its investment in electric truck maker Rivian, which has suffered a greater-than 65% deterioration in value from its initial public offering (IPO) last year.