"His cash burn on Nokia would have covered"
Who burned the cash on Nokia? Ballmer who acquired it, or Nadella who shut it down, also sending a lot of skills to competition, while still trying to keep Windows Phone alive?
Ballmer at least had a strategy, albeit maybe a flawed one, Nadella looks just trying to to throw things at the wall to check what sticks.
Also it looks it's Nadella obsessed with the cloud/subscription model.