Re: [projectvrm] Apple co-founder Steve Wozniak condemns the cloud

[Johannes Ernst < >]

+1

On Aug 7, 2012, at 10:16, Brian Behlendorf 
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 wrote:

> 
> I think Woz's alarm was a bit awkward and overstretched only in the same 
> way that those warning about mortgage-backed securities before 2007 sounded 
> awkward and overstretched.  These and other boutique investment 
> "innovations" appeared to perform admirably at first and be adequately 
> hedged - but both individually and collectively we seem to be bad at 
> estimating risk, at forgetting that "past performance is not indicative of 
> future returns", that things which work at one scale/order of magnitude are 
> not guaranteed to work at the next, and that unsustainable business 
> practices tend to stop at some point.  I don't yet know if there's a 
> systemic collapse problem the way there was one in the financial world in 
> 2007 - though if gmail or even paypal were down for more than two days at 
> some point or hopelessly widely compromised, one could imagine that 
> impacting GDP by quite a few basis points.
> 
> Brian
> 
> 
>