Do you have experiences that validate this risk or thoughts on where the perception comes from?
> Ma.gnolia servers lost all data in a complete outage on January 30, 2009. On February 17, Halff announced that due to data corruption, all user data in the database was irretrievable, rendering the site essentially dead.
I've encountered SaaS services in the past that have disappeared overnight without any warning, and without any way to get back the data they were storing (luckily it's never been important data).