Continual software migrations are now the "new normal." Today while massive software migration projects such as the move from Windows XP to Windows 7 are underway, already the next wave - virtualization - is gaining steam. Critically, CIOs aren't equipped to handle it.
The great thing about "cloud based computing" is that - like networks - you can get redundancy without penalising performance or cost.
In 1993, a friend and myself sat in our respective apartments in Boston MA and started a company making application software that used this thing called the Internet for collaboration.