To most the Internet represents a black box, it's worked fairly well for all these years, and lots of companies are investing lots of dollars in delivering Internet (or cloud) based services, so it should work just fine forever, right? Not exactly. Nemertes just released a freely available update to our 2007 study on Internet infrastructure, this time looking at not only bandwidth and congestion issues, but growing challenges in maintaining basic connectivity between networks as the Internet struggles under the dual strains of rapidly growing routing tables coupled with decreasing availability of IP addresses. Our conclusion: by 2012 the reliability of the Internet begins to suffer. Companies basing their future on the web would be wise to educate themselves on what goes on inside the box.