The cloud offers tremendous benefits to customers of all sizes. But, from a security standpoint, as people consolidate their data and the services they use from a highly-distributed landscape (everyone runs their own mail server, source code repository, file server) into a highly centralized threat surface (Google Apps, GitHub, SalesForce, etc.), it introduces new risks.
Moreover, by putting eggs in one basket, the consequences of compromise are felt widely. (eg: plane crash vs car crash).
One can argue that cloud providers are focused on this as a core competency, protecting your data. But security is just a bar, not a guarantee.
Is this a brewing concern, a non-issue, or the elephant in the room? And, what can we do about it?