We're told companies are abandoning the cloud to save money. But is the trend our friend?

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LinuxFest Northwest 2023 — October 20-22, 2023 Bellingham Technical College
We stand to save $7m over five years from our cloud exit — The rough math goes like this: We spent $3.2m on cloud in 2022. Just under a million of that was on storing 8 petabytes of files in S3, fully replicated across several regions. So that leaves ~$2.3m on everything else: app servers, cache servers, database servers, search servers, the works. That's the part of the budget we intend to bring to zero in 2023. Then we'll worry about exiting the 8PB from S3 in 2024.
White House endorses Senate TikTok bill, urges Congress to pass soon — The RESTRICT Act would empower the Commerce Secretary to mitigate “undue or unacceptable risk” to national security posed by technology transactions in which foreign adversaries have an interest.
Text of the Bill [PDF] — LEW23098 - restrict_act_final_text.pdf
The White House is Reportedly Pushing For More Power to Deal with TikTok — Many are concerned about how broad the bill is. Some fear this could give the federal government vast new powers over all social media. Many, though, agree something needs to be done about TikTok.
Statement from National Security Advisor Jake Sullivan on the Introduction of the RESTRICT Act | The White House — We applaud the bipartisan group of Senators, led by Senators Warner and Thune, who today introduced the Restricting the Emergence of Security Threats that Risk Information and Communications Technology (RESTRICT) Act. This legislation would empower the United States government to prevent certain foreign governments from exploiting technology services operating in the United States in a way that poses risks to Americans’ sensitive data and our national security.
We Found 28,000 Apps Sending Data to TikTok. — TikTok’s software development kits could undermine Joe Biden's order to stop internet traffic flowing from federal employees' phones to TikTok within 30 days.
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509: The Great Cloud Exodus