Interesting piece but also misses one major point: Its always more expensive to create than maintain and vendor lock-in and high switching cost make it difficult to change and easy to pass along cost increases.

Basically, for AWS to double its income, it doesn’t need to double its customer base, it may need to raise fees a bit, bring on some new clients, but mostly let its customer base expand and use more resources including simple having more data - more rows in databases - and more backups. They don’t have to build anything new in AWS to do that, but when they do add new AWS products they’ll move some revenue around (think companies moving from EC2 to a dedicated managed database) and they’ll extract more revenue from the same customers. AI may accelerated this, but given its generally output, I think the whole push to use AI is just dog fooding trying to get fools to buy another product and locking themselves further into the ecosystem.