1. They've completely dropped the Phone market under him. As in gave up.
2. They are not in the personal assistant game at all. Alexa & Google have that market all to themselves.
3. The educational market is steadily switching to Chromebooks. The new generation of kids will likely not even know how to use MS Office.
4. On the back end, they've made .NET work on Mac and Linux. This is great for me, since I don't have to worry about Windows Server licenses, but doesn't this eat into their large cash cow?
5. SQL Server - the other cash cow, is great, but free alternatives will start affecting the bottom line.
6. Windows 10 rollout stalled very much short of their stated goal of being on 1 billion devices.