The question is when this will impact the labor market. There's reduced spending, but where is the reduce hirings or really - firings?

I'm a little bit interested to know about the 2% who reported that their C-Suite had no clue how much they were spending. I want that kind of money.

Cloud spending was always a scam

[removed]

I can hear it now; "What do you mean we're paying $14,000/month to Adobe for licenses we aren't using!!!"

Cloud spend was always attractive for c-suit to outsource accountability and resourcing. However many did not truly understand it should be where it makes sense not “cloud first approach” or just everything to cloud. That is just lazy not only now they have high costs but they also probably decommissioned perfectly good on prem infra and lost a lot of talent.

I consult for a company that really doesn't even want to hear about a new resource or whatever unless it's over 5 figures a year.

Then I have all my other clients that will fight you tooth and nail over an hour here and there, and absolutely will not spend $20/month on better hosting.

[removed]

Falling from Cloud to Dirt

This is definitely happening. Short the market. Things are not coming back for another approx 2 years. Job losses and deflation of the economy is the goal for the Fed.

Already happening for the past few months will intensify as year goes on to show better yearly earnings.