"...cloud computing is not only the future of computing, it is the present and the entire past".

Check out this great account by Jon Fortt of Fortune Magazine's Big Tech blog on Larry Ellison's appearance at the Churchill Club yesterday evening. The standout quote for me was this one about Cloud Computing:

"Cloud? Clouds are water vapor. My objection to cloud computing is the fact that cloud computing is not only the future of computing, it is the present and the entire past. Google's (GOOG) now cloud computing. Everybody's cloud computing. … All it is, is a computer attached to a network. What are you talking about? What do you think Google runs on? It's databases and operating systems and memory and processors! What are you talking about?"
http://brainstormtech.blogs.fortune.cnn.com/2009/09/22/oracle-ceo-sees-long-slog-for-u-s-economy/