Greenberg: Not Long Ago Oracle's Ellison Mocked 'the Cloud'

SAN DIEGO (TheStreet) -- When Oracle (ORCL) execs rang the opening bell of the New York Stock Exchange today, the banner behind them read, "Engineered for the Cloud." A few hours later the company was planning to host something it calls "The Oracle Cloud Forum."

But roll back the clock to an analysts' day in October 2009 and Oracle CEO Larry Ellison, nobody's fool, wasn't waxing so philosophically about "the cloud."

After being somewhat sarcastic about the brewing euphoria over the word "cloud," he said:

...As far as the Cloud, I make jokes about Cloud computing because obviously Cloud computing is something totally different really. Does it use Intel microprocessors? Those aren't new. Does it use memory from Samsung? That's not new. Does it use Cisco networking? That's not new. Does it use Linux and Solaris and Oracle and MySQL? None of those are new.

Someone's got to explain to me this new technology called Cloud computing. From what I can tell it's just renting computers, and that is not the greatest new technology that's ever been invented. It's kind of like a financing idea. But if you can explain it to me, I'd -- I'm -- I'd love to listen.

But... will Cloud computing destroy our business? It will just -- well, if there are no microprocessors and no memory and no networks and no databases and no operating systems, it's going to destroy everyone's business. It's just -- but, it's just some silly notion.

He went on to say:

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