Investing General Discussion

As someone who uses the Snowflake platform daily and has done so for the past 6 years now there really isn't anything else like it. While it of course has some disadvantages it has a startling number of advantages when compared to any other database technology. On the long term I don't see it losing.

Changeover from something else to Snowflake is simply a massive hurdle. Any company of any sufficient size has to ease into the platform over years.

Foler said:

Nice my man.

RKLB earnings report today. With Elon having so much influence in trump admin I think we’re gonna see big things in space industry. RKLB is positioned perfectly.

Total gains so far.. I’d like to add more but buffering my emergency fund to one year reserve until January..

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Absolutely crushed it.

Falstaff said:

Sold my PTON and bought this. I'm all aboard the meme train during Trump 2.0.

And before you shit on me, I bought PTON at ~$4 because I thought for sure someone would buy them. I'm not sitting on it from triple digit prices.

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You just bought RKLB? What’s your cost basis?

TJT said:

As someone who uses the Snowflake platform daily and has done so for the past 6 years now there really isn't anything else like it. While it of course has some disadvantages it has a startling number of advantages when compared to any other database technology. On the long term I don't see it losing.

Changeover from something else to Snowflake is simply a massive hurdle. Any company of any sufficient size has to ease into the platform over years.

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From my understanding it’s rather pricey though compared to alternatives, however like you’ve said I’ve heard it’s very unique in what it offers… That’s only what I’ve heard. I’ve never used it.

Dalren said:

Not that this means much - but my organization is moving everything off of Snowflake and has been this entire year. We are a very large multi-national. Could be a cost savings exercise for us, but just wanted to put that out there.

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The reasons to avoid Snowflake are understandable. It isn't like we only use it either.

The primary reason to get off snowflake is when you have extremely high volume low complexity traffic. As snowflake charges by consumption and processing time.

For instance. If you have a user group of say 50 finance guys all using the same 30 datasets in PowerBI or something. Hosting those datasets on snowflake will cost you far more than if you had done so on redshift or something. To reduce costs we now load onto azure databases that then feed to end users for this reason. While all complex processing and loading work remains on snowflake.

Generally speaking, the bigger and more complex your data infrastructure the more appeal Snowflake will have. Due to its unique ability to reduce that complexity significantly. It is absolutely not a replacement for all databases so if a company makes a decision to simply move all of their databases onto Snowflake this is not necessarily a cheaper and more efficient solution.

Just as an example of this. Companies that require vast amounts of data to both operate and create the products they provide (such as healthcare) will inevitably have overly complex data processes that have been built over decades of time. A byzantine rat's nest of in house solutions, vendor products, and disparate datasources. Many times requiring them to stay on older architecture just because these things are so mission critical.

Snowflake incorporates many things natively that requires lots of DIY and in house work to setup on a Microsoft equivalent. So you have the ability to reduce a 12 step batch process with hundreds of stored procedures, servers, files, and so on into a 5 step process. As Snowflake has many functions native to it that other technology does it and the ability to switch back and forth from a more advantageous data processing tool like python, then right back to SQL again. Rather than be committed to one or the other.

I won't get more into it in this thread but overall the cloud platforms themselves are designed to entice you into overspending unless you have skilled people who know exactly how to maximize features to spend. Palum has touched on this in the IT thread and I know TomServo knows it well. Snowflake, AWS, and Azure are all uniquely gay when it comes to letting you accidentally spend $100k a month for years without realizing exactly what you were spending it on. But maturity with these products in the tech industry is reaching a point where organizations are becoming far more aware of this and adjusting accordingly.

TomServo said:

bro we are mid size. our tard muffin platform and enterprise architects waste something like 50 million on aws alone. not including azure and gcp while maintaining two on prem data centers.

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Yeah I cleaned up the 4 AWS accounts that I ended up being directly responsible for for various reasons.

In my auditing I found literally about ~$100k/month of spend on ancient redshift images, EC2s and tons of other complete bullshit built long before I ever started working here and forgotten. So it had been burning money for at least a decade. I don't even want to know how much of shit like this exists in our accounts that actually support the commercial product.

TJT said:

Yeah I cleaned up the 4 AWS accounts that I ended up being directly responsible for for various reasons.

In my auditing I found literally about ~$100k/month of spend on ancient redshift images, EC2s and tons of other complete bullshit built long before I ever started working here and forgotten. So it had been burning money for at least a decade. I don't even want to know how much of shit like this exists in our accounts that actually support the commercial product.

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Sounds like the gym model of revenue.

PLTR +6%