Cloud Computing: More Confusion

Let me preface this post by saying that I like Wall Street & Tech a lot. They are a quality organization, with quality people, and they put out quality content.

However, I can’t figure out their content on the Cloud lately. First, a whole piece on firms doing their own Clouds – an article that is really referring to a firm that deployed its own virtualized environment. Again, not a Cloud because it is not being run by a third party and every time the firm listed needs additional IT bandwidth, they are going to have to spend their own money and time to do it.

Now, another piece on how the Cloud is in its “adolescence.” Though you could make an argument that the “modern” financial services Cloud (i.e. private, secure, etc.) is a new thing (last few years), the Cloud has really been around the financial services industry forever. Remember legacy systems like Security APL going back to the 1980’s? That was a Cloud by definition. Clients put their data up on APL’s mainframe and APL charged them by portfolio. When a client went from 10 portfolios to 20,000 they did not have to buy new equipment. Sound familiar? There are probably a dozen other vendors like this that started with a Cloud model by definitional terms (some of them are even still using the same legacy technology 30 years later).

Like I said, I believe Wall Street & Tech is a quality publication. However, their coverage of the Cloud lately is “Cloudy” at best.