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U.S. cyber agency says SolarWinds hackers are 'impacting' state, local governments
And... the market rewards them
'What's the alternative?' SolarWinds boosts security firms' bottom lines
Cybersecurity providers including FireEye Inc and Microsoft Corp could not prevent a huge network breach disclosed this month by numerous U.S. agencies and companies, yet their shares are soaring for a second straight week.
...
Wall Street is betting that governments and businesses - having invested years in moving to digital infrastructure - will only accelerate purchases of the latest IT tools.“What’s the alternative?” said Venkatesh Shankar, marketing professor at Texas A&M University.
Airbag recalls or Listeria outbreaks tend to affect shares within a narrow supply chain, from restaurants and auto dealers down to parts and ingredients suppliers, he said.
At the time of writing, the SolarWind stock price dropped on YtY from $18.55 a year ago, to $15.75 now. Crazy as it may sound after being hacked, the recommendation is "Buy", because "What's the alternative?"
(Score: 2) by c0lo on Monday December 28 2020, @10:38PM (5 children)
For the moment, everybody see them broken and yet there's nobody to eat their lunch - they've grown too big already for someone without deep pockets to get catch with their marketshare. Any warranty someone to do it in the future?
https://www.youtube.com/watch?v=aoFiw2jMy-0
(Score: 2) by barbara hudson on Tuesday December 29 2020, @12:02AM (4 children)
You forgot the word "yet."
Yahoo was big, someone else ate them into bankruptcy. Plus development (lotus 123) was big. Borland was big. Corel was big. Nobody stays big forever.
Somebody comes up with systems that aren't hackable (maybe depending on quantum state being broken in the event of a hack) the whole security industry vanishes. Poof.
I won't cry any tears.
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(Score: 0) by Anonymous Coward on Tuesday December 29 2020, @08:57PM (3 children)
The difference there is that all those examples happened over relatively large periods of time. A death by a million cuts. Here you are talking about billion dollar company disappearing overnight. Even if there was some magical unhackable system, they aren't going from zero to 100% overnight either. The supply and demand equilibrium will take care of that.
(Score: 2) by barbara hudson on Tuesday December 29 2020, @09:46PM (2 children)
' And bullion dollar companies can pretty much disappear overnight. Nortel anyone? Enron?
Companies would be smart to bring the cloud back in-house. Where a hack on one company's cloud doesn't allow for traversing everyone else's cloudy stuff, as it were.
As well as heeding the lessons from Boeing about offshoring software development, among other things. Like supply chains for PPE that also can't be dependent on China.
Or as Apple is learning, India for hardware.
SoylentNews is social media. Says so right in the slogan. Soylentnews is people, not tech.
(Score: 0) by Anonymous Coward on Wednesday December 30 2020, @08:29AM (1 child)
Apologies for reading too much into your "poof" and reading a short time frame into your comment.
However, none of the businesses you cited died a swift death either, for any sane value of "swift". Corel is still alive, kicking and a hundred million dollar business. Nortel's bankruptcy was filed in 2009, took 5 months to convert, the major assets were closed on in 2011, and wasn't settled until 2017. The Enron scandal broke in October 2001, they declared bankruptcy in late 2001, they then reorged until emerging in 2004, they then continued to do business for two and a half more years before beginning their "zombie" phase of suing everyone. None of those "pretty much disappeared overnight"
(Score: 2) by barbara hudson on Thursday December 31 2020, @04:17AM
They've outsourced most of their development, so it's basically a shell. A zombie. The undead. But KKR likes the undead.
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