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by rossdavidh
1188 days ago
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The owner of Amazon was the prime beneficiary of VC funding to tech companies, because oftentimes a large chunk of that went for AWS. In that gold rush, Amazon was the one selling shovels. The gold rush is now over, for a while at least, so Amazon is probably seeing a lot of their big AWS customers cutting back, or in some cases disappearing. Essentially, AWS is in the same position as SVBank. If your money comes from lots of tech startups that don't want to have their own infrastructure, and didn't used to need to worry about cutting costs, but now they do, then you can see big "outflows" (except unlike SVB it's more decreasing revenue). |
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AWS grew at 20% in Q4 2022. Grew less than forecasted but still not "disappearing".
https://www.cnbc.com/2023/02/02/amazon-aws-earnings-q4-2022....