I’ve been discussing the issues around “cloud computing” in a class I’m taking. I think it is important to distinguish between using another’s technology as a storage unit for your information and using another’s technology to transform/crunch your information.
The implication of using X’s storage is that your data can be read by X unless you encrypt your data before sending it. If you use X’s application, you may get dubious results in your data. If X’s application is the only instance where your data can be read (as intended), then that can be extremely careless (as some might say) and therefore, potentially dangerous.
I see “cloud” storage as a solvable problem, but see many instances where “cloud computing” is truly careless computing.