(nymag.com)—Why would I be worried if I were an Amazon executive? Well, Walmart has a lot more capital to play with than any of those well-financed start-ups. The company’s annual U.S. sales are about eight times as large as Amazon’s, at a whopping $332 billion. It is spending more than a billion dollars on its e-ommerce upgrades, and it has plenty of room to undercut Amazon on price in order to boost its market share. Indeed, that’s the model that it has used over and over and over again. And granted Walmart has struggled with its e-commerce business, delaying the long-awaited launch of Tahoe, but it’s shown itself to be brilliant at bricks-and-mortar logistics. I expect it will also be brilliant at ecommerce logistics once it makes the right investments.