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If you have followed my blog in the past, you have noticed my warnings to put your valuable data on the public cloud. You should read this article with many reasons why and already known incidents. I also have written about constraints when it is perfectly fine to put data into the cloud as well. One of the most important things to evaluate is the vendor lock-in effect.
I have referred to the great blog of Tim Bray a couple of times already. These days, he wrote about the lock-in effect and multi-cloud as a mitigation option. While he's certainly a big defender of the public cloud (he worked for the AWS for years), he's discussing the topic really good in my perspective. I don't always share his reasoning but the article is a must-read for everybody who has to decide on cloud-migration issues.