Stacy Summary: This is how empires end. It’s amazing how much it mirrors the decline of past empires. And in regards to business pulling out of US cloud companies, I’m surprised it’s been so swift – 10% had already canceled a project? At the moment, US companies don’t need real revenue as long as the dollar is still global reserve currency and nations are still willing to send goods and resources in exchange for the dollar; but once they stop being willing to accept the dollar, it would seem this destruction of national industry will harm the US economy.
U.S. cloud providers could lose between $21.5 billion and $35 billion in revenue over the next three years because of worries about the National Security Agency’s PRISM program, which enables the government to access user data from U.S. Internet companies, according to a report this week by the Information Technology & Innovation Foundation.
The estimate is partly based on market-share projections and a global survey, which found that more than half of respondents, including companies and other industry professionals based outside the U.S., said they would be less likely to use a U.S.-based cloud service in light of Prism. Ten percent said they had already canceled a project with a U.S.-based Internet company as a result, according to the Cloud Security Alliance, the trade group that conducted the survey.
[VIA Max Keiser]