One thing that came up is development. Modern devops culture is quite a good thing, and what's lovely about "cloud" - as in the ability to quickly buy compute and storage capability - is that ideas you would have tinkered with in on-prem labs (or across private sites) for months can be imagined and prototyped in hours.
I'm a big advocate of rapid prototyping as a _huge_ business lever, because the ability to try out ideas quickly, to easily reconfigure things, is the key for time to market. You can quickly see if something is going to fly or not.
And that's where the advantage ends.
After that, it's all downhill. Asymmetry. Lock-in and portability. Trust and privacy issues. Security perimeters. Unpredictable costs....
So the way forward is to render unto Caesar only the things that are Caesar's.... in other words, take the advantages of "cloud" when it suits you, and then get the hell out of Dodge.
What is ongoing from that conversation is media companies being interested in strategic planning to build, and even share, their own distributed computing resources to pull back to once a technology is off the ground.
Someone even mentioned that it's time for a European Cloud initiative,