Public cloud is a threat to civilisation!
As more stuff that SHOULDN'T be outsourced, gets outsourced by bean counters we will reach a tipping point.
Yes, a Cloud service might be more reliable. But if in house fails you only lose ONE bank, or wholesaler, or retailer, or Mobile operator (billing). The Cloud has too much monoculture and will be too few providers.
I just read a pre-release review copy of No Silver Lining. It's set slightly in the future of fewer cloud providers and most Point of Sale, Banking, Mobile Billing, supplier ordering etc all outsourced to the cloud.
The scenario is patches rushed out (by separate organisations) for servers and routers. A perfect storm of stupidity. We have ALREADY seen these sorts of failures, but not enough is outsourced yet to make it serious.
How many Cloud failures so far have been:
b) Other Cyberwarfare attacks
c) Misconfiguration by human
d) Automatic update patches that were not tested properly.
Most that I find searching here are in c and d categories. I think only a couple of significant DDOS and they by nature are limited.