A few years ago, an enterprise network I helped run with about 40k users at several hundred locations cost something like $30-35 per user&#x2F;month to operate. We had strong incentives to price below what an MSP would charge and beat them on 2 occasions.<p>About 40-50% of that cost was circuits and transit. The vast majority was tied up in labor and equipment costs. If I making money on the whole stack with the market control that AWS has, I would want at least 60% margins on the business -- it&#x27;s not like locked in customers have easy options.