### Comment:
It's not a bear argument. I'm claiming that there's Black Swan risk from regulation or legal intervention. AT&amp;T dropped 70% in value when the government broke it up.

### REPLY:
When you say black swan risk, how much risk are we talking about? 1% or 10% or 50%? 
  
 If that risk doesn't happen, how much will AMZN grow due to 'unfairness'? 1% or 10% or 50%?

### END.