This document discusses industry trends in virtual machine (VM) technologies and how they compare to current VM standards. It addresses virtualization opportunities and challenges related to security, networking, and storage. Specific issues discussed include a lack of standardization across operating systems, limitations in network and security capabilities, and questions around licensing and chargeback models for virtual instances. The document proposes several approaches to address these issues, such as establishing a center of excellence for networking and security and restricting VM transfers between network segments.