“Back when you owned your own collection, you didn’t risk losing it because you had a billing dispute with the Book-of-the-Month Club, nor could a library fine threaten your family photos. Such scenarios are becoming possible as cloud services become more consolidated. Apple’s iCloud will look after e-mail, books, music, photos you take, and documents you create; Google’s cloud services span the same range and now also include a Facebook-like social network, Google+. A fight with a cloud provider that controls so many of your digital possessions is a daunting prospect.
Threats to a carefree cloud come from outside, too. A hacker might steal or delete all your files, perhaps with the help of a screw-up like one that for a short time allowed users to log in to Dropbox cloud storage accounts with incorrect passwords.” via A Cloud over Ownership – Technology Review.