What's Bill Gates scared about?

The two words "cloud computing" scare the hell out of Bill Gates.
You see, he realizes that thanks to the thousands of miles of fiber-optic cable laid during the late 1990s, the speed of computer networks has finally caught up to the speed of the computer processors.
As IT expert Nicholas Carr explains, "What the fiber-optic Internet does for computing is exactly what the alternating-current network did for electricity."
Suddenly computers that were once incompatible and isolated are now linked in a giant network, or "cloud."
As a result, computing is fast becoming a utility in much the same way that electricity did...
"The next sea change is upon us." -- Bill Gates
Think back a few years -- anytime you wanted to type a letter, create a spreadsheet, edit a photo, or play a game, you had to go to the store, buy the software, and install it on your computer.
But nowadays, if you want to look up restaurants on Google... find directions on MapQuest... watch a video on YouTube... or sell furniture on Craigslist... all you need is a computer with an Internet connection.
Although these activities require you to use your PC, none of the content you are accessing or the applications you are running are actually stored on your computer -- instead they're stored at a giant data-center somewhere in the "cloud."
And you don't give any of it a second thought... just like you don't think twice about where the electricity is coming from when you plug an appliance into the wall.
But cloud computing isn't going to be just a modern convenience -- it's going to be an enormous industry.
You see, everyone from individuals to multinational corporations can now simply tap into the "cloud" to get all the things they used to have to supply and maintain themselves. This will save some companies millions and make others billions.