Half of every dollar paid for cloud services goes to "Uncle Jeff"
Akash Weekly - September 14th 2022 (Akash Network)
“50 [percent] on average [of] all the costs — the margins — actually goes to the big cloud… to the cloud providers. It’s incredible. So half of every dollar we pay to cloud services, all of us, goes to Uncle Jeff… the rent seeking model that was created, the invisible rent seeker.” — 00:13:44
Context: Citing a16z’s “cost of cloud” post; services like Notion, Asana, and Netflix pass ~50% of costs through to hyperscalers. Decentralization, he argues, also “reduce[s] the cost of the globe… in these high inflation times.”