New Show Hacker News story: Show HN: I Market-Make AWS Cloud Contracts to Save Companies $40M+
Show HN: I Market-Make AWS Cloud Contracts to Save Companies $40M+
2 by kavehkhorram | 2 comments on Hacker News.
Hey HN: Kaveh here, the founder of https://www.usage.ai/ We help companies drive down AWS EC2 spend by buying and selling 3-year no-upfront reserved instances. Why? Because there's almost no liquidity on the AWS EC2 RI Marketplace and it can take a while, if at all, to sell an RI if you need to stop using one. Previous to founding Usage, I worked at JPMorgan Chase as a summer analyst. Here's how it works: We are typically brought in by a DevOps manager to cut AWS EC2 costs. The app is entirely self-service and the savings are generated automatically, typically we do this live on a call. On average, we reduce AWS EC2 spend by 50% for 5 minutes of work. To reduce by 50%+, we've built a pool of reserved instances that's shared across our pool of customers. When a customer scales up their EC2s, Usage buys RIs. When a customer scales down their EC2s, Usage sells RIs. At this point, we've saved companies tens of millions of dollars in spend and have a lot of liquidity, so we take on very little risk. We make money off of a 20% Savings Fee. Happy to chat directly kaveh@usage.ai Have you experienced any issues with managing your company or organization's AWS expenses? We'd love to hear your feedback and ideas!
2 by kavehkhorram | 2 comments on Hacker News.
Hey HN: Kaveh here, the founder of https://www.usage.ai/ We help companies drive down AWS EC2 spend by buying and selling 3-year no-upfront reserved instances. Why? Because there's almost no liquidity on the AWS EC2 RI Marketplace and it can take a while, if at all, to sell an RI if you need to stop using one. Previous to founding Usage, I worked at JPMorgan Chase as a summer analyst. Here's how it works: We are typically brought in by a DevOps manager to cut AWS EC2 costs. The app is entirely self-service and the savings are generated automatically, typically we do this live on a call. On average, we reduce AWS EC2 spend by 50% for 5 minutes of work. To reduce by 50%+, we've built a pool of reserved instances that's shared across our pool of customers. When a customer scales up their EC2s, Usage buys RIs. When a customer scales down their EC2s, Usage sells RIs. At this point, we've saved companies tens of millions of dollars in spend and have a lot of liquidity, so we take on very little risk. We make money off of a 20% Savings Fee. Happy to chat directly kaveh@usage.ai Have you experienced any issues with managing your company or organization's AWS expenses? We'd love to hear your feedback and ideas!
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