Ask HN: Is your company sticking to on-premise servers? Why?

I've been managing servers for quite some time now. At home, on prem, in the cloud...

The more I learn, the more I believe cloud is the only competitive solution today, even for sensitive industries like banking or medical.

I honestly fail to see any good reason not to use the cloud anymore, at least for business. Cost-wise, security-wise, whatever-wise.

What's a good reason to stick to on-prem today for new projects? To be clear, this is not some troll question. I'm curious: am I missing something?