Larry Ellison, owner of Oracle software, overtakes Elon Musk as world’s richest person
Larry Ellison briefly overtakes Elon Musk as world’s richest person
Ellison’s wealth has surged after [Oracle], in which he owns a stake of 41%, reported better than expected financial results.
This is the most surprising information in this article. Oracle isn't a company I'd expect a price surge at. They provide some commonly used software, but nothing that would have a sudden surge in value, and I'm someone who's looked at cloud resources before, and they weren't even in my list of places to check. A crowded market with limited potential for innovation just doesn't seem like something that justifies a huge price surge.
Feels like the stock market isn't a real place.
The cloud is legitimately the fattest scam that technically-competent people have fallen for.
It's sad seeing so many people who are supposed to be smart get taken for a ride because they see everyone else doing it.
For the price people pay on renting cloud hardware, they could purchase their own hardware, upgrade their internet connection, and save thousands of dollars.
Instead they make donations so the idiots using their services can pay cloud providers for the stupidity of the service owners.
On prem is cheaper by a wide margin for steady load, but cloud is good if you need burst processing.
I have an Oracle cloud account for access to their free VPS. I'm part of a virtual TTRPG playing with my kids and their friends over half the continent and don't have to deal with fighting to get computers to see a server on my home network. I'm operating in the cracks, living off the crumbs of their paid services, using barely enough of their resources to even count as a rounding error. It's a win for me.
Honestly, using the cloud to "right provision" can save a company money or at least give them great flexibility.
The problem? Companies over provision in the cloud and most of that goes unused.
When it's cheap and easy to spin a new instance under load but later no one cares about doing capacity analysis, you end up paying for way more than you need. That's where the money goes.
I know that a fairly large B2B Ecommerce platform called OroCommerce just moved all their customers' cloud hosting to Oracle. I doubt that would have all of a sudden made Larry Ellison the richest guy in the whole world, but it is something that happened recently. I sure don't hear a lot of people saying LETS USE ORACLE otherwise these days.
Oracle just announced a huge $300bn deal with openAI to provide cloud computing services.
Big money in building the Chinese surveillance state:
I’m happy that Elon is sad
...but sad both of these a-holes are this rich.
Doesn't sound like he will be too sad
Musk, an antagonist to various figures in the worlds of business and politics, has a close relationship with Ellison – who is often described as a mentor to the South Africa-born tech entrepreneur.
Ellison sat on the board of Tesla between 2018 and 2022 and put $1bn into Musk’s purchase of Twitter – since rebranded as X. According to Walter Isaacson’s biography of Musk, when the Tesla CEO asked Ellison to invest in Twitter, Ellison said he would put in a billion dollars or “whatever you recommend”. Musk is a frequent visitor to Ellison’s Hawaiian island, Lanai, according to the book.
Do you think he'd give me a billion dollars if I asked?
I really don't think he's sad about that
Mixed feelings here. I hate Musk because he's a bigot and a fascist. But Ellison is terrifying as he's an authoritarian who can hide his power level. He just wants to stop crime and doesn't care about your privacy or freedom