We Europeans should be looking at this as an opportunity. It is time to for there to be a credible non US based cloud provider.
I know that this would be a huge challenge to break into a maturing market but surely not all the tech giants have to be based in Silicon Valley?
So, either this company out googles google or out Rackspaces Rackspace or both. I suspect that breaking the MS monopoly would be too big a challenge.
I am only a lowly sysadmin so don't have the nous/contacts to get VC funding or whatever but it _should_ be possible. Also, I want to go sailing again in three years time.