I see the markdown more as a reflection that customers, at large, actually aren't getting value from these companies, or at least less value than previously ass

I see the markdown more as a reflection that customers, at large, actually aren't getting value from these companies, or at least less value than previously assumed. I know it's only anecdotal, but with e.g. Dropbox, I don't know a single person who pays for Dropbox, and every Dropbox user I know claims they would be content to migrate to some other free service or just buy external hard drives and deal with lesser accessibility before they would pay on a subscription basis for arbitrary cloud storage. So then the question is about enterprise clients, and it seems the value proposition for enterprise cloud data management is just good enough. Many other enterprise cloud services provide the same thing as merely a tiny add on to a whole suite of other cloud tools and services. I even remember in a past job once I asked if my team could have a tiny budget (on the order of like $100/yr for our team size) to have a private work-related Dropbox set up. Various managers got involved and shut it down right away, claiming that the $100/yr was just not something they could approve, even though we probably paid at least 5x to 10x that per person for various other cloud services. They basically said, make due with this other legacy enterprise thing that has some crappy Dropbox clone buried somewhere inside it. More surprising than Dropbox being marked down is that it was ever valued at those levels in the first place, IMO.