AWS Re:Invent: AWS hits out at private cloud pushing tech dinosaurs

Jassy claimed the reason why so many "old guard" technology firms are pushing private cloud is to protect their high margin business models.

"The economics of what we're doing are extremely disruptive for old guard tech companies, [which have lived on 60-70 per cent gross margins for many, many years," he said.

"Now, high margin businesses have been around forever and they are obviously valid and successful business models, but...[ours] is a high volume, low margin model.

"Every business we run [fits that model] and most of the old guard don't like those types of business, which is why they're pushing private cloud because it doesn't disrupt their businesses," he added.