It really means back to the basics of computing. Everything cannot be housed on your own hard drive in the closet anymore. Everyone in Silicon Valley knew that two years ago.
Since your PC has been nothing more than an internet tool, it makes sense that your data no longer needs to be stored on your little hard drive at home; instead, it needs to be housed (by rent) in larger coffers, e.g. the same thing losers like AOL and winners like Google and others have done for many years.
