Eoin Treacy's view -
I found your comments on autonomous vehicles today very well written and enlightening, thanks a lot. On a different note, do you think cyber security has a big potential for the next decade. And if so, do you have any suggestions for how to invest in this theme. Any potential companies and/or ETFs would be greatly appreciated. Thanks again for a very nice service.
Thank you for your kind words and I am delighted you are enjoying the service. There has undoubtedly been a bull market in ransomware attacks which has made abundantly clear how inept cyber controls are. The recent hack of Electronic Arts is a case in point. Here is a section from an article on Vice.com:
A representative for the hackers told Motherboard in an online chat that the process started by purchasing stolen cookies being sold online for $10 and using those to gain access to a Slack channel used by EA. Cookies can save the login details of particular users, and potentially let hackers log into services as that person. In this case, the hackers were able to get into EA's Slack using the stolen cookie. (Although not necessarily connected, in February 2020 Motherboard reported that a group of researchers discovered an ex-engineer had left a list of the names of EA Slack channels in a public facing code repository).
"Once inside the chat, we messaged a IT Support members we explain to them we lost our phone at a party last night," the representative said.
The hackers then requested a multifactor authentication token from EA IT support to gain access to EA's corporate network. The representative said this was successful two times.
The bigger the company the greater the threat. The primary challenge for any company is securing access to intellectual property that can be used by a competitor and customer data which carries costs if lost. They are not that worried about everything else.
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