> we want operating expenses, not capital expenses Ultimately it's all capex. The choice is whether the capital asset is on your balance sheet or someone else'

> we want operating expenses, not capital expenses Ultimately it's all capex. The choice is whether the capital asset is on your balance sheet or someone else's. If someone else is tying up their capital in a depreciating and inflexible asset, they'll demand to be paid well for giving you the flexibility to avoid all of that. So you can't really say opex is always better than capex, since it depends on the price you're willing to pay for that flexibility.