What Microsoft's "cloud is the world's computer" means

[Windows Central]

Microsoft's CEO Satya Nadella called the cloud the world's biggest computer, during the company's 2018 Build developers conference; but what exactly does that mean.
For the regular consumer the cloud is most often associated with that ephemeral "off device" place where pictures and other data are securely (or not securely) backed-up. Cloud computing, the direction computing has been moving for years, goes beyond mere storage, however.

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