This document summarizes a presentation on network security in virtual and cloud environments. It discusses how traditional network security approaches rely on physical infrastructure assumptions that do not apply in virtual networks. It then explores options for replicating common network security capabilities like firewalls, IDS/IPS, and traffic monitoring in virtual and cloud systems. These include implementing capabilities locally on virtual network components, using external cloud-based monitoring, redirecting traffic, and leveraging emerging technologies like software defined networking. Major cloud providers like Amazon, Google, and Rackspace are also summarized in terms of their network segmentation, firewall, and traffic inspection/capture capabilities.