> They've reimagined the company as providing support on third-party platforms, namely AWS and Azure To be fair, Rackspace's market cap was only about 4 billio

> They've reimagined the company as providing support on third-party platforms, namely AWS and Azure To be fair, Rackspace's market cap was only about 4 billion at time of acquisition. They don't really have the capital to get into a war with Amazon, Google, or Microsoft, when data centers cost hundreds of millions/billions to build. The economies of scale they're fighting against are gigantic, so it makes sense to go towards supporting the clouds of other companies rather than building out their own bare metal.