In fact, no one really cares much what the underlying physical infrastructure is -- put it in the cloud! -- as long is it works. Cloud computing is a platform shift as important as the move to three-tier Web architecture and to the client-server model. Interesting new companies are now virtualizing the network (Pluribus) and storage layers (Coraid, Tintri) of the data center just like VMware did with computing. With so much raw resource available "on tap," we will surely see more disruptive software companies replacing an older generation of applications.
Companies like Salesforce, Workday, Jive, Dropbox and Carbonite are just the beginning. Security, as one example, is a sector that is still immature in the cloud and one in which we expect to see many exciting startups in the next few years.
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The growth in data is the other phenomenal, exponential wave we are riding. Five exabytes of data are now created every 10 minutes, compared to every two days just two years ago, Google's Eric Schmidt was quoted as saying in 2010. Five exabytes is 5 billion gigabytes, an amount equal to the data crated from the beginning of human evolution until 2003.