The document discusses the evolution of multi-tenancy and the need for multi-tenant storage. It describes how applications and networks became multi-tenant through technologies like virtualization, but storage remains fragmented. It outlines the requirements for multi-tenant storage, including performance guarantees, isolation, management controls and backup capabilities for multiple applications. The document proposes addressing these needs through a multi-tenant storage solution like CloudByte ElastiStor that can provide shared storage for multiple virtual machines and applications.