The article doesn't claim that demand (or pricing) is inelastic in the data space. It makes the point that VC funding has inflated price levels across the board, similar to how college tuitions rose dramatically after student debt became widely available. There are still differences between college tuitions, but overall tuitions might be multiple(s) higher compared to what the price would have been if there was no (cheap) financing available even.
Now that VC funding is mostly on the sidelines the question is how this will play out further.
Now that VC funding is mostly on the sidelines the question is how this will play out further.
Haven't studied Elastic and Confluent, but Snowflake seems now profitable (5%) with 25% free cash flow. See p.28 of their last investor presentation. https://s26.q4cdn.com/463892824/files/doc_financials/2023/q4...