The latest issue of Google Friends Newsletter explains ‘Cloud Computing’ and ‘Living in the Cloud’ – Full excerpt from the email:

Lately you may have been hearing a lot about "cloud computing" – a phrase that describes the notion of using web-based software to work on, and share, your own information and files via the Internet instead of having to store them on your hard drive. Businesses are taking a closer look at harnessing the power of "the cloud" because of the efficiencies it can create for them, like burdening IT departments less, helping employees to be more self-sufficient, and not having to invest in hardware infrastructure. But the cloud works for regular folks too.

We’ve been seeing some great examples of people "living in the cloud" to manage their personal lives more easily, including a couple we recently heard from who planned their entire wedding using web-based applications. There are a whole host of tools out there, like Google Docs and Google Calendar, that let you access your information via a web browser. Doing so gives you the freedom to access your documents and photos anywhere you have Internet access, from any computer – especially helpful if you’re on the road.

The cloud is great for sharing, too: you can invite people to contribute to your document just by sending them a link, and any of you who are sharing it can make changes in real time. That means saying goodbye to the version control madness on your desktop. And that’s a very good reason to celebrate.