VIRGINIA POSTREL: Greece, Capital Controls, and Cloud Computing. “Just as individual Greeks are losing access to Apple’s iCloud, as the Athens staff of Bloomberg News recently discovered, so companies are finding themselves cut off from services critical to their ongoing operations. The problem demonstrates a hidden risk in today’s otherwise efficient vertical disintegration. Taking for granted the easy flow of money across borders, system designers never foresaw a situation in which companies with adequate funds would find that they couldn’t pay foreign vendors.” Plus, the surprising generosity of Silicon Valley.
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