Telco is a really good example of how hard it can be to move to the cloud no matter how hard you want to. I imagine financial services are similar. Telcos built their own clouds because there was no other way to get the primitives that they needed (classic case: a floating IP that could appear in data centers on different sides of the country and be ready to serve clients in the middle of a call in under 100ms without dropping the audio). I mean, cloud just was not built for that.

The flip side is that it is freakishly expensive to keep doing that, and telco is not a business that is freakishly profitable.

I'm watching efforts like Azure Operator Nexus (https://learn.microsoft.com/en-us/azure/operator-nexus/overv...) which looks to be taking a stab at this, but even there, its more like OpenShift on specific hardware with some Azure dust, rather than a remaking of Azure primitives like redundancy for the telco universe.