I Market-Make AWS Cloud Contracts to Save Companies $40M+
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…
What it does
In the maker’s words, at launch
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 [email protected] Have you experienced any issues with managing your company or organization's AWS expenses? We'd love to hear your feedback and ideas!
Does the same job
all alternatives →- IBI built a service to help companies reduce AWS spend by 50%2022 · usage.ai · ▲123
Hey HN: Kaveh here, the founder of https://www.usage.ai/ We help companies drive down AWS EC2 spend. Why? Because the way it's done now is a pain. DevOps and Software Engineers end up spending time managing costs rather than focusing on business problems. Previous to founding Usage, I worked on high-performance computing research at JP Morgan Chase and as a software engineer at a number of smaller startups. 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,…
- IBI built a service to help companies save on their AWS bills2020 · ▲73
Hey HN: I'm Kaveh, the founder of Usage (https://www.usage.ai/) We help companies drive down AWS costs. Why? Because the way it's done now is a pain. Stakeholders, especially engineers, are required to spend unnecessary time manually finding underutilized or overly expensive EC2s. We believe the optimization process should be done automatically through a series of sophisticated algorithms. At the moment, there are over 70,000 AWS EC2 prices - doing that manually just won't scale at most organizations. My background is in software engineering. Previous to founding Usage, I…
- U2Usage 2.0 – Cut AWS Spend by 57% in 5 Minutes2023 · ▲135
Hey HN: Kaveh here, the founder of https://www.usage.ai/ We launched on Hacker News for the first time early last year, and we've made a lot of progress since then. We've saved tens of millions of dollars for companies, and we are even more excited to announce the launch of a new product: insured reservations for RDS! We worked closely with AWS on this feature and are excited to finally make it generally available. We help companies drive down AWS EC2 & RDS spend. Why? Because the way it's done now is a pain. DevOps and Software Engineers end up spending time managing costs…
- ASAWS Savings CoPilot to save up to 50%2024 · ▲8
Hi HN community, My name is Kaveh, I'm the founder and CEO of www.usage.ai I launched on HN last year with the first version of Usage AI, we used Standard RIs and the RI marketplace to give customers the ability to buy 3-year no-upfront RIs which yielded 57% savings with none of the commitment. In conjunction with AWS, we have since moved to using Convertible Reserved Instances which are the most misunderstood but powerful savings instrument on AWS. As long as you have servers in any of the popular AWS regions, you can achieve up to 50% savings with no code change and the flexibility to…
- IBI built a service to help companies save 35%+ on their AWS bills2020 · ▲25
Hi everyone, I've been working on a side project over quarantine called Usage.ai and I finally feel comfortable enough to launch it. We're a service that plugs directly into AWS, automatically finds savings, and applies those savings at the press of a confirmation button all without ever needing to go to an AWS console. I'd love to get HN's thoughts on it! Demo: https://www.loom.com/share/2a6f1c8e4c214914a1cdd88c6fdec4ac Link: https://www.usage.ai/
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