I bet in the 1920s, people were questioning whether or not businesses should generate their own electricity on site or whether to go with the new-fangled "cloud

I bet in the 1920s, people were questioning whether or not businesses should generate their own electricity on site or whether to go with the new-fangled "cloud" solution. The question for businesses comes down to economics, of capital expenditure vs operating expenditure. If I buy my own hardware, I have to spend capital and depreciate it as part of the operating expenses. If I lease hardware (whether on prem or cloud), then that's pure operating expense. There are accounting and tax implications. There's also the "stick to your knitting" of a business. Do I need my own payroll service, or do I outsource it. Do I need my own accounting, or do I outsource it. Do I need my own cleaning service...