Do I need a hard drive backup if I'm backing up to the cloud?

Jim has heard that physical media is dead and everything is going to the cloud. How does that affect a 3-2-1 backup strategy? Leo says that while it's right that data is moving to the cloud, it can be slow to get back. Having local backups in addition to a cloud backup is a good idea. So he should have an online hard drive, a near line hard drive backup, and then his off site cloud backup. Leo still recommends having a hard drive backup that he can get to.