In January, we asked if cloud storage start-up Cirtas would be a rainmaker. Now its very survival is in doubt as funding is withdrawn and 21 staff are dismissed. The news came from a senior engineer at Cirtas, Dave Graham, through his Twitter feed. "Well, the waiting is over. as of 3pm TODAY, i, along with 20 others are no …
I don't understand...
... the 'cloud' is the answer to everyone's problems. Amazon told me so. A dead-cert for any VC investment. How can this possibly fail?
A salutory lesson - there are big clouds and little clouds and some with a silver lining. Unforunately for these guys it was a thunder cloud. The lesson to those looking to the clouds must be to make sure they REALLY understand the risks and don't believe the hype.
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