Let’s not pretend Google search is what people mean when they say “cloud.” It’s about running internal processes on external systems.

As to the risks, many companies live and die by their internal secrets. These range from a private keys, customer lists, trading strategies, and similar trade secrets to actual serious R&D efforts.

Sometimes the damage is obvious such as crypto exchanges suddenly finding themselves broke, but corporate espionage can also be kept quite. Losing major government bids because a competitor read some internal memo’s is a serious risk and you may never know.