This is a 'black eye moment' for CrowdStrike and cybersecurity sector, says Wedbush's Dan Ives
Вставка
- Опубліковано 4 вер 2024
- Wedbush Securities' Dan Ives joins 'Squawk Box' to discuss the latest developments on the global IT outage, what it means for CrowdStrike, and more.
Having a mentor is my personal recommendation. It seems like a good bet if you have limited market knowledge, but I'm not sure where you'll find an experienced one.
I believe the safest approach is to diversify investments especially under professional; guide. You can mitigate the effects of a market meltdown by diversifying their investments across different asset classes such as stocks, ETF's etc It is important to seek the advice of an expert.Dustin Dwain King is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
You are right! I've diversified my portfolio across various markets with the aid of a financial adviser, I have been able to generate a little bit above $450k in net profit across high dividend yield stocks, ETF and bonds.
Thank you for the tip. It was easy to find your coach. I did my due diligence before scheduling a phone call with him, and he seems highly proficient based on his résumé...
That’s true, I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like Dustin Dwain King I've worked with him for 9yrs & highly recommend him also
Succeeding in online commerce relies heavily on Dustin Dwain King's strategy, with his management team demonstrating exceptional effectiveness.
AI stocks are set to dominate 2024. I prefer NVIDIA because they're well-positioned for long-term growth and support other AI companies. I know someone who made over 200% with NVIDIA. I'll also consider the other recommendations you made.
I agree. Just because there are opportunities doesn't mean we should dive in without caution. We should look for market analysis or guidance, or seek advice from certified market strategists.
Absolutely, having a solid plan is crucial. My portfolio has been well-balanced and recently doubled since early last year. My financial advisor and I are working towards a seven-figure goal, although this might take until Q3 2024.
I think could really use the expertise of an advisor like that.
Her name is BONITA JEANETTE RODRIGUEZ. Just look her up
Thanks for sharing. I searched for her name and found her website. I reviewed her credentials and did my research before contacting her. Thanks again.
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.
I know Laura, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
You're right! The very first time I tried, I invested $2000 and after a week, I received $8,400. That really helped us a lot to pay up our bills.
SHE IS ON TELEGRAMs
@LauraGil52
That's it >>>>>>
Just discovered your channel with this video -- case studies are extremely useful and I'd like to see more in the future! Creating wealth entails establishing routines, such as setting aside funds at regular intervals for sound investments.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
It’s important to consult with a financial advisor before making any investment decisions.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.
Hello, I'm new to this space and i've been getting suggestions to use one for a while, how can i find a decent one like the one you use?
Melissa Jean Talingdan is the licensed advisor I use. Just search the name. You’d find necessary details on the web to set up an appointment.
So a billion dollar cyber security company released software without testing it first? Kyle the intern is so fired.
They must have tested it but obviously their testing procedures weren't adequate.
Correction: 100 billion dollar company
While the kids were playing with 3 trillion worth of graphics cards to generate AI cartoons, no AI can’t fix everything..classic example where the real word has a different focus to Fake AI hype
on a friday
@@hariharasudhanr7198 More like $5-10B co. selling for $76B.
I work in IT for a well known retail company with about 1,000 locations in the USA. It hit us hard, not only our corporate employee's laptops, servers, etc are affected but the registers are down. Online ordering systems are down....there's no way to make money. We need to manually fix each store/person/register one by one. It's been a nightmare all day. Thought Fridays were supposed to be easy, smh. FML
How can they release such a massive update at once? Wouldn’t it make sense to do a slow rollout to be safe?
Poor thing! You have a long weekend ahead.
I salute you man. I just got off the phone with my company’s IT team and they were able to fix my laptop but it took 30 mins. We’re not even a big company either. Hang in there mate!
Shouldn't have bought Crowdstrike
@@bmla88 was it an "update" ?
Release updates on a FRIDAY into PRODUCTION is crazy
Code deployment 101
😂😂😂😂
My company is having lots of problems.
4 day weekend!
A major technology news event without Wedbush’s Dan Ives is like a beach 🏖️ w/ no sand.
I'm sure you mean "w/o sand?"
It’s very simple. I don’t understand how all these big companies all make the same mistakes. First never ever auto update. Second only update a few devices in staging environment for 30 days. Third, roll out update to production following successful staging test.
If it's an update on CrowdStrike, shouldn't they be testing this update before deploying to production.
they performed testing before shipping: maybe inadequate, but it only caused issues with some of the MS systems.
That means not enough testing was done. They deploy that client to probably hundreds of thousands of machines if not in the millions, needs to be thorough
incyber world this is not update it is adown grade!!!! now can be copied it time to observe them in any desk software!!!!!!!!!
must have been a simple 1 line change,,no need to test those :)
The Biggest Failure is that any update doesnt need to be mass implemented all at once, you have 1-2 days to deploy unless its a cve 8+, there is no reason why you cannot stagger out updates over 24-48 hours with 6 hours for 5% of clients to ensure stability. Lazyness at its extreme both from CrowdStrike and even IT managers that configured to auto update immedietly... Just amazed how complient everyone is to allow any updates to your business's PC's via AD etc without a testing phase of at least 24 hours... Companies realistically need to invest 10% of there budget to Cyber secrutity now but its more like 1-2% not enought in the slightest, as clearly shown... Trust a external entity to patch your systems without prior testing for a day duh.. CIO's failure 100%
Most of these companies are trying to cut headcount not add to it.
Cybersecurity salaries about to exploded. No one wants to get caught with their pants down
It’s a content update. My guess they thought it was a simple update. Regardless, it’s a failure on its processes for fast delivery at the expense of its brand and customers’ trusts investing on recovery solution.
Klaus Schwab coincidentally predicted worldwide tech outages at the WEF years ago
Super article, many new and interesting facts.
Microsoft (and probably CrowdStrike) software license are usually very clear : they are not responsible for anything! You are using their software at your own risk.
Monopoly.
LINUX FTW!
Doesn't mean insurers can't sue them for negligence (Crowdstrike I mean, Microsoft isn't at fault)
@@ketheric they can try but is they signed a contract saying that CrowdStrike is not liable it won't be easy. And why Microsoft is not at fault??? Windows should have protection mechanism against that kind of error, just displaying an error message, not a BSOD (because deploying a correction when windows is not even booting is not easy...), and the Linux and MacOS versions are not impacted...
@@frederichardy8844 lol it DOES have a protection mechanism, it's called don't install kernel-level drivers unless you absolutely know what you're doing.
MacOS and Linux were not impacted because the bug was in the Windows version and not in the MacOS and Linux versions. Otherwise they would have been impacted just the same.
Something similar happened with mcAfee in 2010 and it took out computer networks globally
And the ceo was George kurtz again
yes guess who was in charge there too lol. clearly his haircut must check off one of their DEI boxes and they keep hiring this person.
@@dypes26 This possibly started as a breech at Frontier Air and Allegiant Thursday afternoon..and spread...they weren't updating anything, it was meant to take machines offline before this did more damage...
George Kurtz, the CEO of crowdstrike was the CTO at mcafee when this happened in 2010. So fun fact, this has happened twice under his watch.
@@user-nd8ms1jl1i That's another reason why Trump hates CrowdStrike. It was even on 60 minutes four years ago..
"Black eye moment", "epic disaster", "gold standard", "Apple, Cook, Cupertino Mt. Rushmore", "Mt. Everest up hill battle".
😂😂
Exactly!
He has a way with words 😂
Golden goose, godfather of AI
Metaphor Einstein
Every day, there are thousands of failed software updates (globally) that are rolled back. Today's CrowdStrike Falcon release upgrade snafu is simply a release error (or omission) that has a huge supply chain impact. The news media should focus on the topic of risks related to software release management processes.
Employee's 4th month at the company: "Whoops..."
Any nuclear power plant using CrowdStrike software?
they are gapped
A Billion dollar company do not release code without testing... i think there is more to the story.! my 2 cents
100%
American software has become a grave threat to world security.
OK THIS IS NOT A CYBER ATTACK ITS A SOFTWARE ISSUE BUT THEN AGAIN THIS IS MSCBS
If it has the same effect as a cyber attack it is an unintentional cyber attack.
This "CEO" is worried about his "brand." Surgeries were not sceduled because of the mess the company he's in charge of screwed up.
The license agreement that customers have to sign to buy the product will exempt CrowdStrike from any lawsuits.
I am astonished how much talk there has been about the issue without ever mentioning exactly what went wrong. The wording has been it was a faulty update, but what exactly? Then it would be worth knowing exactly how that slipped through the cracks. If this is a publicly traded company that affects other publicly traded companies and institutions it should all be out there in the public eye.
Who is going to verify that the fix has been deployed ?
Thanks for the OT Crowdstrike.
There’s a glitch in the Matrix !!!!!!
No, there isn't you posted here just fine. move along
Somebody has to go through each and every machine affected at the local keyboard. How many individual Windows machines are at CNBC?
This might be an odd opinion but I think from an investor perspective this works out in Crowdstrike's favor. There is no bad publicity, especially when your brand becomes synonymous with cybersecurity at the most important levels like airports across the world. Millions of people had no idea that these companies were running Crowdstrike and today they do. Also this might be a pain for your IT department, but so is changing service providers with something as sensitive as security. And for newer companies looking for a security provider, the first thing they will remember is that all of these major organizations trust Crowdstrike and so they will trust them as well.
So put succinctly, short term negative, long term positive.
This is why you shouldn’t monopolize cybersecurity giants. Doesn’t take much to shut the whole system down
Finally CrowdStruck!!
Doesn't Crowdstrike manage security for many of our states' voting systems? Gosh, what could possibly go wrong in November???
You don't believe that whoever the WEF oligarchs and progressive fascists select to run for the Dim Party will get the 90 million votes that will be necessary to defeat President Trump?
A few people, besides Dan Ives, on CNBC don't know the difference between "eco" and "echo".
Could this potentially bankrupt crowdstrike? The damages must be enormous
Exaggerating to the max 😂
Even without lawsuits, their future revenue growth will be severely affected
Nah, make the ecosystem stronger
@@archeops.this happens all the time…. Just growing pains, get real
Contracts state only refunds would be given. Individual corps will have to go through cyber insurance.
Time for a class action lawsuit that will bankrupt CrowdStrike.
Is it too early to buy the dip or is it going much lower? How many lawsuits can we expect?
This will just make MLOPS more stronger.
As of 10:10am on Friday July 19th, How is "the biggest issue the brand damage" when 911 system, airline, hospital, and bank systems were/are out? Doubtless that there are people who suffered and possibly died from lack of medical treatment due to this. Really showing where your priorities lie, Dan Ives.
100%
He's an investor not a politician, he's focused on making money not pleasing people with fake opinions.
The topic was finances and the stock, not the moral implications
Who cares about your so called moral priorities. This is a channel about making money.
Class action lawsuits against Microsoft internet disfunction
This is a finance channel...
Just wait until Crowdstrike prevents an AI cybersecurity disaster.
Is CrowdStrike a buy? CNBC needs to ask this question.
Imagine that it happens to all computers within Tesla cars.
All Tesla are stranded on the roads.
Andrew interupts EVERY SINGLE GUEST THAT EVER GOES ON CNBC. He's so fking annoying.
Joe agrees
No. He cuts at the right point and moves the conversation with the right momentum while asking the right questions
He's on a time crunch bite-sized news schedule, sweetie. Chill
I was at Whole Foods today . 2 days later. Some of their Registers are still closed down due to frozen monitors blue screens still. The CEO lied 🤣 and said this was quickly resolved .
I work in cybersecurity, what the hell did I do?
You pressed the connect all button… kaboom.
Crwodstrike CEO sold1.49 million $ of stock 3 days ago. I'll just leave it there.
that was not an upgrade? They pushed configuration change. Their software is the biggest cybersecurity threat ever created!
many more to come we can copy this soooooooooooo easy !! automatic will become manual in few days!!! thanks crowd strike what a junk company!!
everybody knows crowdstrike now, nice publicity
Theyve been an industry leader for years. They didn't need this bad publicity.
need less centralization not more. Wasnt kurtz with macfee when it had a major failure too.
Microsoft should do their own cybersecurity. Crowdstrike will have some serious financial issues in their hands in the next year or so, investors beware...
The reporter asked a very intelligent question for a non-IT person at 05:15 - why does this happen to Microsoft and not to Apple devices? Dan Ives explained that it's because of the Apple ecosystem, highlighting that Apple is less exposed on the corporate side and more focused on the consumer market.
To expand on this, the underlying reason is that macOS is built on a UNIX foundation, specifically a variant of Unix called LINUX. Unix-based systems, including Linux and macOS, are renowned for their security and stability, which have been honed over decades. This secure foundation, originally developed by pioneers like Linus Torvalds (for Linux), provides a robust environment that is less susceptible to certain types of vulnerabilities. It's not just about Apple's innovations in Cupertino, but also about leveraging the strengths of Unix-like systems.
I don’t know Jack but seems like Microsoft kinda sucks in terms of security, viruses and bugs
I've rarely heard a less informed discussion on a topic. People listening to this bunch of amateurs will have learned nothing of relevance or significance relating to this issue. They seemed to be just filling time. 'Clueless' would be too kind as a description.
Same with most subjects. It's like they live in a different world than we peasants.
Oh good, it was just an “issue” thanks Mr. CEO man.
Just because you have a disclaimer of liability doesn't mean you cannot be sued.
Time for DCMS weight loss program
Wait until Blackrock’s AI Aladdin goes haywire. You ain’t seen nothing yet.
Apple has full control over what runs officially on kernel level because they have full control over the hardware and the software that runs it.
Microsoft can't exercise the same level of control because it runs on 3rd party hardware along with 3rd party software.
"It's a get out the popcorn moment" .
They didn't test the update. Pure laziness. Samsung did the same this year; thousands of AT&T customers affected.
Dan “The Moment” Ives
In my world we patch in groups, we push to non-critical systems first. Give it a day to see if the update creates any issues within our network, then push to entire network.
This...
And critical systems get updated last.
that's not how their DEI groups work though.
Where is Satya Nadella? Why is CrowdStrike being made the scape goat ? Who collected the License fee for Windows ? Image your car broke and car maker says, speak to the spares guys
Learning opportunity:
Too many eggs in one basket. Decentralize (& diversify back-up) for resilience.
True for all vital systems & infrastructure.
Selling ALL my CrowdStrike Stock....this is a epic disaster
AI comment
no one tested build before release ...
yes, it is a sign of a bigger problem. The customer has to ask 'How could a vendor release a bug that was this easy to catch with testing ? '
Would be ironic if CrowdStrike’s
engineers were using Microsoft’s Copilot🤔💭
It appears that there is a lack of understanding regarding cybersecurity among the individuals involved in this discussion and the news media outlet. The pundits seem to be overlooking the necessary defensive measures that should be taken. This interview was rather unproductive and lacked substance. It is concerning that they do not have the resources to consult with experts in the field.
Lawyers going to be busy.
Mac and Linux are not immune, it's only that it is easier to bypass security levels on Windows than on Mac and Linux. Crowdstrike has f-ed up on Linux before for example, but a Debian kernel update was quickly released, fixing the issue, and the impact was not as big because there are many more Windows systems being used in the corporation than Linux
We are overly dependent on tech. Life shouldn’t stop for personal, traveling and business. This is ridiculous! What if this starts happening every month/week then what’s the game plan???
Is our country safe now?😳
Yall love that word “unprecedented” every year
Do they not do canary release? How you gonna blame the eng when it’s a process issue
I find it Interesting to see how many people understand that a Single Point of Failure can be Catastrophic to a System and How Important it is to do Testing BEFORE Putting a Change Out Into Production, yet had no issues Mandating that All of Humanity be Forced to Take an Untested Experimental Gene-Therapy Injection and a Series of Untested Boosters.
Profits matter more
Sentinel one now doesn’t seem so bad 😂
Doesn't Crowdstrike have a single ITIL certified person on their staff?? I guess they don't care about Change management. ☹
There is an individual working for Crowdstrike that Fkued up badly and cost the world Trillions today. Who is that persons? Name the name.
This had nothing to do with the cloud or even Microsoft. This is a tool companies purchased from another company and installed themselves.
Its wrong to call a failure of one company to test their software update adequately as a black eye for the whole sector. Also its not really a hack or attack, just a very costly mistake from the employees of Crowdstrike
WTH is a “bug” ?? If there was a bug in the release why release it?! Sounds like a hack to me.
Secret is out. There is no security
Finally, the name-sake company does what it names, Strikes the internet!
And that is in the middle of Kaspersky being pushed out of US market
CrowdStrike screwed up on a massive level. Their IT Project Management Team dropped the ball in a disastrous manner. The only way this happens is that the appropriate levels of testing were not completed on a live test system from end to end prior to implementation. What a disaster. Now CrowdStrike has a major financial problem and a major credibility problem. They can most assuredly expect that they will be facing lawsuits demanding tens of millions of dollars in compensation and damages for this mess from customers around the world. Question is, are their pockets deep enough to cover this, or are they now facing insolvency as a result? Either way, expect a pile of customers are also going to be looking at alternative platforms, so a safe bet that they are going to be losing a pile of customers as well. No matter how you slice this, there are a pile of senior staff at CrowdStrike who can expect a pink slip in the coming days for absolute and total incompetence!!!!!
What system does out air missile defense run on
This interview tells me Dan Ives knows little about stuff he is called to speak to..
DAN IVES IS A COMPLETE AND UTTER CLOWN
They involuntarily forced a software update that destroyed their clients ability to operate their business. They are screwed. What happened to SolarWind?
Dei at its best.
There is something called "rollback"
This happened in our own backyard…just imagine when this does become an attack on companies like this! Not sure how to view an investment opportunity yet…but there’s one lurking 👀
Apple is less exposed to security vulnerabilities not because of corporate control of the "ecosystem" but because the underlying architecture of the operating system is Unix and the way Unix was designed makes it far more resistant to the kinds of security vulnerabilities Microsoft cannot escape from after all these years. Unix was designed from the ground up to be a multi-user system and Windows is a single user system. Internally this makes Unix far more resistant and less vulnerable while Windows is highly promiscuous under the hood.
No one who is creating serious software or running servers of any kind should be doing so on Windows. Windows should not run anything more critical than a laptop or a gaming computer.
CrowdStrike should be out of business. You are a CYBERSECURITY VENDOR who caused the biggest breach and incident in the past 20 years. Absolutely embarassing.
This is the terrifying yet hilarious moment where Steve Jobs would sit back in his chair, fume at the negligence and ineptitude, and turn to his COO and say from his room (just after taking a bite of an apple)..."Boys? It looks like we're going to get much deeper into enterprise solutions."
Then he would go home and turn off all his electricity and play with lightning bugs for the night.
This was the black swan this month
Bye bye Crowdstrike…. Hundreds of Billions Lost! And someone is gonna need Pay!
A complete overview of all processes and applications introduced in the past 3 months for this release. I have a feeling that they implemented a new artificial intelligence feature for their package delivery.
Skynet is awake
some CrowdStrike guy probably pushed an update live without sandbox testing it.
Hospitals! This affects people's LIVES! All this is about it businesses - money. Sad.
Yes, EPIC software is currently down which affects 75% of the hospitals in US.
Also 911 emergency services.
Wonder if Crowdstrike used AI written code for the update that caused the glitch????
I assume yes - they need to fire the Ai , so much lies from all ai users latelty
Highly doubtful.