| Talks at GS with Andy Jassy, CEO of Amazon Web Services |
|
|
| Above (L to R): David Solomon of Goldman Sachs and Andy Jassy of Amazon Web Services |
When Amazon publicly launched its cloud computing business in 2006, it began attracting startups like Slack and Instagram. Today, the business known as Amazon Web Services (AWS) generates more than half of Amazon’s profits and serves as a critical backbone for companies like Apple and Netflix, as well as the US Department of Defense and the government of Japan. “The number one reason that enterprises and public sector organizations are moving to the cloud is agility and speed,” Andy Jassy, CEO of AWS, told Goldman Sachs CEO David Solomon during a Talks at GS filmed at the firm’s Tech and Internet Conference last week. Jassy also attributed cloud computing’s success to its flexible cost structure: “For most companies, if you can turn the capital expense that you lay out for servers and data centers into a variable expense that you pay as you consume it, that's attractive.” For businesses considering the investment required to transition to the cloud, Jassy says the biggest challenge often has more to do with culture than infrastructure. “A lot of the challenge, it turns out, isn’t technical,” he said. “The first thing that has to happen is the senior leadership team has to decide they really want to move. They have to have that conviction because inertia is a powerful thing inside organizations.”
|
|
|
|
|
|
|
|
| The Renewable Energy Market: Numbers to Watch |
|
|
Jordan Meer, head of investing for the Renewable Power Group within Goldman Sachs Asset Management, gives his quick take on the renewable energy market in this week's "Markets Update" feature of the Exchanges at Goldman Sachs podcast. Here are four numbers he’s watching right now:
$1.5 trillion—The amount invested in the renewables market in the last five years. With solar and wind costs now below conventional fossil fuel generation in many markets, industry experts say renewables could rise to 30% of global power generation by 2040.
26%—The US federal investment tax credit for solar projects built in 2020. That tax credit is slated to step down to 10% by 2022, but even without subsidies, renewable energy is now often the cheapest source of new power generation.
100%—As of December 2019, about one-third of US residents lived in communities that have publicly committed to 100% green energy targets.
$100/kwH—The expected cost of lithium ion battery storage by 2025, down more than 50% from today’s levels, according to industry leaders. As battery prices fall, storage will allow solar and wind to deliver 24/7 renewable power and become reliable resources to match energy demand.
For more, listen to Exchanges at Goldman Sachs on Apple podcasts, Spotify or your favorite podcast platform.
|
|
|
|
|
|
|
No comments:
Post a Comment