The more cost conscious environment for software can be seen in Snowflake missing expectations. The miss mainly as companies are taking actions to lower costs. Jamin Ball writes about optimizations that lower cost for customers and revenue for Snowflake: “1) Hyperscalers releasing hardware improvements (ie Gravitron). 2) Snowflake releases optimizations to their own product. 3) Customer optimizations (like data retention). First 2 represent a ~5% / year headwind they bake in every year”
