From another timely Charles Fitzgerald cloud reality check
Follow the CAPEX: Cloud Table Stakes 2018 Edition | Platformonomics
"The three hyper-scale public cloud companies – Amazon, Google, and Microsoft – spent over $68 billion on CAPEX between them in 2018. That is not all for cloud infrastructure (and maybe not even a majority of it), as those companies have other, material CAPEX spend, but it is directionally indicative. All three companies again registered all-time CAPEX highs this year. The combined total is on the order of 5% of total non-residential fixed investment in the US (one wonders whether hand-ringing about relatively disappointing fixed investment across the broader economy is attributable at least in part to the economies of scale of the public clouds)."
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