This is more apt advice. At Hacker News we are swimming in a sea of start-ups, who are constantly evangelising the 'cloud' (it's often their bread and butter). But if you genuinely want privacy then keep it local and locked down. Stick to mainstream open source products and keep things as simple as possible.
Well ... What if I launched a cloud based startup that used homomorphic encryption on your data? I mean, it'll be another 10 years before we get the encryption overhead below a factor of a million, but at least we won't be able to give away your data in any useful form...