Amazon (NASDAQ: AMZN), the world’s largest e-commerce and cloud company by annual revenue, has knocked down many smaller businesses in the past decade. Online marketplaces have kept shoppers away from brick and mortar stores, while AWS (Amazon Web Services) has brought companies into its ever-growing portfolio of cloud services.

AWS’s profits also subsidized the growth of Amazon’s lower-margin e-commerce business, which sparked a positive growth cycle for Amazon but put pressure on smaller competitors in the cloud and retail markets.

That business model makes Amazon a formidable beast – but there are still plenty of companies the tech giant can’t crush. Let’s take a closer look at three of these resilient rivals – Etsy (NASDAQ: ETSY), Shopify (NYSE: SHOP), and Microsoft (NASDAQ: MSFT) – and why they …

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