Hey there, 👋
Welcome to another issue of ZluriLand!
During the early 2000s recession, Leonard Lauder, the chairman of Estée Lauder cosmetics, noticed something strange. 🤔
He saw that lipstick sales were actually rising, not declining.
This quickly became known as the Lipstick Index, and today it is a popular unconventional economic indicator.
Now, let me introduce you to another one — The Cloud Spend Index.
So… hear me out. In today's world, almost every company uses cloud computing or has applications in the cloud. ☁️
Since the cloud offers usage-based pricing, companies have the flexibility to scale up or down, according to current economic conditions. As a result, this can be used to gauge the health or growth trends of an economy.
Basically, a decrease in cloud spending indicates that companies are cutting their budgets to save costs. 📉
And this is exactly what happened last month.
The big three cloud giants — Amazon, Microsoft, and Google reported slower growth in their cloud businesses. Since these three tech companies control about two-thirds of cloud infrastructure, they are closely monitored to uncover economic and tech trends.
While this slowdown is bad news for cloud providers, it could only be for a short while. Cloud migration is already underway and there is no stopping it!
