These economies could only put cloud ahead if they were larger than the provider's profit margin. If cloud saves 10% in costs but charges you 30% in markup, it

These economies could only put cloud ahead if they were larger than the provider's profit margin. If cloud saves 10% in costs but charges you 30% in markup, it costs you 20% more. AWS's margin is 20-25% (eg [1]). Is AWS's cost of goods sold really 25% lower? Admittedly this calculation is tricky, because it's not clear what to include. Does that figure for AWS's margin include R&D? Should it? [1] https://www.forbes.com/sites/greatspeculations/2018/10/17/how-much-will-aws-contribute-to-amazons-near-term-revenue-growth/ https://www.forbes.com/sites/greatspeculations/2018/10/17/ho...