The memo is extremely vague about what it is predicting. It's basically agreeing with Sun ("the network is the computer" (c) 1984) / Larry Ellison ("Network Computer") / etc. - that something networked will outflank PCs.
But that's a prediction heavily dependent on timing (both those concepts failed to take off) and IMO misses what actually got the next generation of computing to take off (wireless networking, high-res screens and capacitive touch) and it also misses what is the main thrust of the next generation, mobility rather than connectedness.
But that's a prediction heavily dependent on timing (both those concepts failed to take off) and IMO misses what actually got the next generation of computing to take off (wireless networking, high-res screens and capacitive touch) and it also misses what is the main thrust of the next generation, mobility rather than connectedness.