[eldavido]

Twilio's cost structure is probably dominated by SMS charges from telco operators and customer acquisition, not their AWS bill. So I doubt it, but feel free to cite data that shows I'm wrong. (I read their s-1 and I don't think it got into that granularity of cost accounting)

[jonknee]

But they also spend a bundle with AWS... Amazon can reach the same pricing with the telcos, but will have lower infrastructure costs. Twilio would honestly be a good acquisition for AWS, but maybe Bezos feels like doing it himself.

[eldavido]

Isn't Twilio's gross margin like 50%?

I think it's a market where winning is about customer acquisition and retention, not necessary cost-control, though I'll grant that could become more important over time.