[sek]

They are competing with Google, Amazon and Microsoft. Those are not normal companies.

I also think that people underestimate that this space will get very low margin eventually and become even more commoditized. Most companies totally overpaid for IT enterprise solutions the last decades, they are sales driven and live off lock in effects of their hardware to milk their customers.

Now we got rid of physical hardware then it will take companies another 10 years to figure out that they also don't need 90% of all the cloud solutions they got sold on. The rest you can run everywhere cloud neutral with kubernetes or something else.

Will those three companies earn a trillion dollars during that process? Sure.