Bad Backup, bad bankruptcy
Orange County, CA - Always make sure your backups are in good working order. Here is a story of a company reports to be out of business because they lost 300 GB if their IP and company operations history - GitLab.com melts down after wrong directory deleted, backups fail. The story mentions Gitlabs.com outgrew the cloud and that is why this happened. No, they simply had bad backups and they did not check to make sure they had an ability to recover before doing work on the storage system. Data loss disasters can happen in the cloud, too. So make sure you have your backup operations in order. Disaster can strike in innumerable ways no matter your IT operation model.
Backups need to be constantly examined to make sure they are working. Here is a partial list of questions you should be asking when doing your due diligence: