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Serverless is further towards the OPEX end of the axis because OPEX is generated and then payd whereas CAPEX needs approval first. With serverless you no longer need to request approval for new instances. The harder the management believes IT to be a cost centre the harder IT will try to wrestle control away. The story of On prem vs Cloud is the story of CAPEX vs OPEX is the story of expenditure aprooval friction.

Sad.

Private cloud can be big Apex. Doesn't have to be though. The IBM's an HPE's of this world are perfectly happy to sell you PAYGO on prem solutions. Or you can lease the hardware.

Sure, but is that a versus that comes up much? It seems to me they're orthogonal. You can do on-prem serverless, after all.