What is "Cloud Computing"?

In the vein of "Web 2.0" and "ASP", the concept of "Cloud Computing" is here, and it is scaring the bejeebus out of Microsoft. You see, cloud computing moves programs off your desktop and puts them in the Internet "cloud", where people just access their work using a leaner desktop and a secure Internet connection. Things like MS Word and Outlook email will no longer reside on your own hard drive. Read more about cloud computing here... (cloud computing illustration by Flickr)