Not much time has passed since Google announced the Chrome Store and unveiled Chrome OS, but on December 10th Google CEO Eric Schmidt announced several updates about Chrome and Chrome OS. He also went on to say that these announcements were some of the most important in his work life. If you would like to read the full blog by Schmidt you can find out more about his history and reasoning behind the future success of Chrome OS.
If you opted out of reading Schmidt's blog post, it can basically be summarized like this. In the 1970s and 1980s there were few new ideas pertaining to computer science. After all "3M" machines (one megapixel, one megahertz, and one megabit) were big in the 80s and that was quite an accomplishment then but still not enough to really do anything by todays standards, or the standards 10 years ago for that matter. Eventually the web came around and like computers in their infancy, the web was only useful as a source of information and couldn't really do much. That was until 1997 when Oracle announced the advent of "the network computer." Which gave rise to the idea of "the cloud" which Google fancies quite a bit. Google also believes that with HTML 5 the web has reached the point where cloud computing is viable.
To find out how Chrome OS is going to make Google even more rich, hit the break.