I wonder what we will see from AWS as we go through an economic cycle though.
Great business when everyone wants to scale up.
Maybe not a great business when people want to scale down.
> For contracts with original terms that exceed one year, those commitments not yet recognized were $110.4 billion as of December 31, 2022. The weighted average remaining life of our long-term contracts is 3.7 years. However, the amount and timing of revenue recognition is largely driven by customer usage, which can extend beyond the original contractual term.
Even if new business stops, and that revenue extends beyond contracted terms, it should provide a nice cushion.
[1]: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001018724/d2fde7e... (10-K, page 49)