[2:45] Michael Dell: So there are lots of different models that are emerging but the idea that everything is going to one public cloud, you really don’t see a lot of customers doing that. ... I can tell you from my conversations with customers they’ve sort of figured out that it’s not the public cloud, it’s not the private cloud, it’s both. And even beyond that, it’s really the edge. ... More and more customers are thinking about what’s the right place for any given workload, you’ve got data sovereignty issues, security issues, certainly cost issues.
[9:25] Michael Dell: I think one of the other things that we’re seeing is the super big organizations, and I think this will flow down to large and medium organizations over time, have basically said “I’m going to put my data in a neutral that has incredible connectivity, and I’m going to access services from each of the major public clouds because it’s just an untenable situation to put everything in one of these. I actually think that colo model is growing faster than the discrete public cloud model itself.
[14:30] Marc Andreessen: It was not that long ago that it was taken as an article of faith, maybe correct me, that cloud businesses were not going to be profitable or only be marginally profitable. And obviously you guys, and Martin, with your work have done a great job illustrating they’re actually quite profitable. But you do have this dynamic, you know Amazon, Google, Microsoft, these are three gigantic companies with what seems like a very high level of determination to bash each others brains out in this market. They’re all so determined to win this war — Aren’t they going to beat each other to death over pricing in the next 5 or 10 years, and won’t that result in their margins actually coming down and resolving some of the economic pressure.
[15:00] Martin Casado: Well I just don’t think oligopolies work that way. If you look at the actual margin profile over the last 10 years, it’s gone up from about 18% to over 30%, so it’s actually increased. So while price is dropping, that’s their internal efficiencies margins have been increasing. ... Listen, if oligopolies change the way that they work then maybe we’re going to see an erosion of margins. So prices will drop 100% but I don’t think margins will.