Bill Gates once semi-famously commented that the effects of technology shifts are overrated in the short term, and underrated in the long term. This is very true — particularly when it comes to cloud computing. The hype cycle is well documented. A technology comes to public attention, lots of people instantly grasp its potential consequences, and our lemming-like instincts cause a big bubble of hype, usually right at the time when the technology is only reaching awkward pre-adolescence.