This document discusses the security implications of cloud computing and summarizes a presentation by Ben Masino of Alert Logic. It notes that web application attacks are now the number one source of data breaches, but less than 5% of security budgets are spent on application security. It also outlines some of the challenges in defending applications and workloads in the cloud, including a wide range of attacks at every layer of the stack and vulnerabilities introduced through rapidly changing code and third party tools. The document then provides an example of a data exfiltration attack against a textile company, where the attacker was able to access critical systems and steal financial and design data by exploiting known PHP flaws and leveraging captured credentials.