Update — Reader Justin Fischer points out my math below is off. Interestingly I wasn’t the only reporter to make this mistake. Sorry.

If you have an entrepreneurial bent it’s hard not to see an opportunity to start the next big cloud storage company in last week’s Nearline Storage announcement by Google. I saw it immediately. So did Google make a big pricing mistake? Probably not.

Nearline storage usually means files stored on tapes in automated libraries. You ask for the file and a robot arm loads the tape giving you access to your data in a couple minutes. Google’s version of nearline storage is way faster, promising file […]