What is Cloud Computing and what are the benefits?

In a previous post, a video about GWT(Google Web Toolkit), talked about how to use Google Web Toolkit in a project. I was hoping that I could use GWT in a future project. The problem is that I work in a .NET Environment and based on my research it doesn't look to be a viable option.

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The following video is from Standford University, School of Engineering.  Guest Lecturer: GE Wang discusses iphone application programming.

GE Wang talks about New Expressive Social Mediums on the iphone.  So what does that mean?  Basically, it's creating new mediums to allow people to be creative using new technology such as the iphone.

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What is open Video Playback?  Where can you use it in your project?