First is the Hardware cycle which the author admitted himself is a stretch. Because it is. So not sure why it is there
Second, the slower growth of AWS and Azure, how can we be sure if it's because of increased interest rates and not because of big numbers laws? AWS itself generated $21 billion in Q4 2022. How fast can you grow at that size? I am sure interest rates have some impact but it should not be the sole reason for slower growth. AWS is still growing and very profitable.
Third, claiming ATT fixed a problem that doesn't exist is not correct. Surveillance tracking without user consent is a real problem.
Last, when Jassy said advertising, did he mention mobile advertising though? Mobile advertising does not mean every type of advertising. If there is no data, how does he know ATT's impact was underestimated? Financial Times ran an article claiming that ATT's impact on FB was about $10 billion. There was no link to the research or article for that number. FB ran away with that number and made the same claim. But even if that number were true, FB still has billions of users and generates a lot of money. Plus, they already lapped the period impacted by ATT. What investors were worried about is Mark's obsession with VR and the big investments into the field. The layoff is FB's attempt to be leaner and recover investor trust. So I am not sure why ATT is even in the discussion.
Feels like some of these points are forced...