Palm is getting ready to roll out WebOS this summer on Pre3 and on Touch Pads to have a set of connected devices. HP is looking to create a cloud based system where you could do the same thing on multiple devices. This sounds very competitive to Google Android or Google Mobile cloud services that already do this if you have a Google phone. Léo did not mention them as a competitor. Léo worries more about the companies he doesn't know yet which seems to be a little delusional. Windows 7 and iCloud from Apple will likely be formidable competitors as well. Léo claims that developers need lots of devices in distribution in order to start developing for the platform.
You can listen to the interview above but frankly its not that impressive or informative based on the short 5 minute clip I heard. There Nothing unique or disruptive about what they are doing it frankly sounds like a copy of Google Docs and mobile services.