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Oh wow this is going to be absolutely horrific to watch unwind in a few years.https://twitter.com/cra/status/1186324783492993025 …
"Bank of America bucked the Wall Street trend and made a $350 million bet on its own internal cloud — and the payoff has been striking" https://www.businessinsider.com/bank-of-americas-350-million-internal-cloud-bet-striking-payoff-2019-10 … pic.twitter.com/704JzLW77e
If you consider yourself a technology company and you’re making technology decisions in order to minimize cost instead of maximize velocity, you’re going to lose. If you don’t consider yourself a technology company, you have even bigger problems.
@RemindMe_OfThis in 2 years
Aye aye, captain
! Reminder set for Fri Oct 22 2021 at 12:00:00 GMT+0000.
Reply "cancel" to cancel this reminder.https://twitter.com/Ajchatham/status/1186496962096295936 …
So you're assuming they've made a grave mistake? Or that others following suit will make a mess?
@patrick_oshag
http://investorfieldguide.com/kanter/
check from 48:00 – How leaders should think about build vs buy
How so? 1. Every bank has internal cloud infra 2. Yes it usually sucks, but, 3. It is still cheaper than public cloud, and, 4. Most core bank apps are on DB2, Sybase, MSFT, and ORCL and will need migration eventually anyways... So they’ve kicked the can to save cost.
I dunno Zack, I reckon they’re probably at the size and stability to make a meaningful saving doing it themselves. Might even lead to a new revenue stream for financial services.
I think Facebook also runs their own data centers.
How exactly does this falls under “cloud”? Hmmmm...
? Why wouldn’t it? Cloud has nothing to do with ownership, it’s an architecture.
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