Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Archive for the ‘2018’ Category

The Cost of New Breaches

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Earlier this week IBM Security released the results of a global study examining the full financial impact of a data breach on a company’s bottom line. 

Overall, the report found that the hidden costs in data breaches — lost business, negative impact on reputation and employee time spent on recovery — are difficult and expensive to manage. One-third of the cost of “mega breaches” (1 million lost records or more) were derived from lost business.

So what was the average cost of a data breach globally? $3.86 million, which was up 6.4 percent from their 2017 report.

Based on in-depth interviews with nearly 500 companies that experienced a data breach, the study analyzes hundreds of cost factors surrounding a breach, from technical investigations and recovery, to notiifications, legal and regulatory activities, and cost of lost business and reputation.

This year, the study also calculated those “mega breach” costs, projecting that those involving lost records ranging from 1 million to 50 million cost companies between $40 million and $350 million respectively.

Some other sound bytes:

  • Average cost of a data breach of 1 million compromised records is nearly $40 million dollars
  • At 50 million records, estimated total cost of a breach is $350 million dollars
  • The vast majority of these breaches (10 out of 11) stemmed from malicious and criminal attacks (as opposed to system glitches or human error)
  • The average time to detect and contain a mega breach was 365 days – almost 100 days longer than a smaller scale breach (266 days)

You can download the 2018 Cost of a Data Breach Study here.

Written by turbotodd

July 13, 2018 at 10:14 am

Broadcom to Acquire CA

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Today is apparently a big deal day. Pun intended.

But before I launch into that, let me just send out my congrats to both France and Croatia, both of whom won their respective matches against Belgium and the UK this week to go on to the World Cup Finals on Sunday in Moscow.

There’s been a lot of talk about American viewership being down for the World Cup due to the American men’s team not making the tournament.

Tell that to all the Austin bars and restaurants I saw jam packed with fans watching a whole slew of games (and clearly not all of them were expats). There’s plenty of American soccer fans who grew up playing and loving the sport, and for whom the World Cup is a soccer Superbowl on steroids.  I’m one of them, and I’ll be glued to the TV on Sunday to see if David can beat Goliath.

Now back to the deals…Broadcom has announced it will acquire IT management software company CA Technologies for $18.9 billion in cash, according to a report from CNBC.

From the statement issued by Broadcom:

Broadcom Inc. (NASDAQ: AVGO), a leading semiconductor device supplier to the wired, wireless, enterprise storage, and industrial end markets, and CA Technologies (NASDAQ: CA), one of the world’s leading providers of information technology (IT) management software and solutions, today announced that the companies have entered into a definitive agreement under which Broadcom has agreed to acquire CA to build one of the world’s leading infrastructure technology companies.

Hock Tan, President and Chief Executive Officer of Broadcom, said, ‘This transaction represents an important building block as we create one of the world’s leading infrastructure technology companies. With its sizeable installed base of customers, CA is uniquely positioned across the growing and fragmented infrastructure software market, and its mainframe and enterprise software franchises will add to our portfolio of mission critical technology businesses. We intend to continue to strengthen these franchises to meet the growing demand for infrastructure software solutions.’

But ZDNet’s Larry Dignan writes that “few investors and analysts are buying it,” suggesting it has overtones of Intel’s own failed software adventures (Wind River, McAfee…)

Macquarie Capital analyst Srini Pajjuri is quoted in the ZDNet story saying that:

History suggests that combining Semi and unrelated Software businesses is risky (Intel + McAfee). Cisco has had success transitioning from a hardware-only model to a recurring revenue model, but in Cisco’s case, software is typically bundled with its hardware solutions, which is different from the Broadcom + CA model.

Written by turbotodd

July 12, 2018 at 10:52 am

Posted in 2018, acquisitions

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Xiaomi’s Float Stumbles

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Happy Monday.

CNBC is reporting that shares of Chinese smartphone maker Xiaomi stumbled on their debut, slipping as much as 6 percent.

The company’s Hong Kong offering was priced at 17 Hong Kong dollars, and opened for trade down more than 2 percent and slipping as much as 5.88 percent during the session.

Some analysts were quoted in the story as thinking the valuation was too high. 

Hao Hong, head of research at BOCOM International, explained:

“The share was priced at a very high valuation multiple, substantially higher than its global peers. Even though Xiaomi remained to be a very good story, I think the market is at a stage where you have to prove yourself first before the market can give you a good valuation,” Hao Hong, head of research at BOCOM International, told CNBC.

Meanwhile, back at The New York Times, Paul Mozur goes deep on AI and surveillance in China in a piece entitled, “Inside China’s Dystopian Dreams: A.I., Shame and Lots of Cameras.”

For some reason, the movie “Minority Report” kept coming to mind as I read through his chilling story.

The Net: There are an estimated 200 million surveillance cameras watching its Chinese citzens’ every move, and their surveillance system is getting smarter every day, partially due to a boom in surveillance-related startups in the country.

And no Orwell jokes, please…China is well past that point.

Written by turbotodd

July 9, 2018 at 9:56 am

Posted in 2018, china, smartphone

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IBM Cloud in Europe

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IBM has announced partnerships with six European firms using its cloud services.

With Dutch Logistics firm Koopman Logistics, it wil work to build a track and trace solution using IBM’s blockchain technology. Koopman transports consignments across Europe and was looking to replace its current paper-based tracking process.

With Italian multimedia organization Gruppo 24 Ore, IBM is using its Watson AI services hosted on the IBM Cloud to help tax professionals respond to questions about the Italian tax coding system.

French bank Credit Mutuel is using IBM Watson on IBM’s cloud environment to power its virtual assistants as well, in this case to help the company’s 20,000 relationship managers advise its customers.

Teckel Medical is running its digital health checker on IBM Cloud.

RS Components is making use of IBM’s Cloud platform, building its peer-to-peer marketplace in IBM’s London Cloud Garage, helping startups to promote, test and sell their inventions online.

And with Osram AG, a lighting solutions company, IBM has helped the company switch to a digital environment using IBM Cloud, resulting in greater operational savings and flexibility.

Written by turbotodd

July 5, 2018 at 10:57 am

Posted in 2018, european union

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Red, White, Blue, Grey, and Orange

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Happy post-Independence Day, for those of you here in the U.S. and in the U.S. diaspora around the globe.

We had a very wet holiday here in Austin, but that didn’t keep the fireworks from going bang bang starting sometime around 9:21 PM CST last night.

That felt as though it was the shortest 4th of July holiday I have ever had!

Speaking of fireworks, some news on the iPhone front…

On the personal side of things, I finally gave up my beloved small SE to upgrade to an iPhone 7 Plus, which I hunted down on Gazelle.

Me already likey the bigger screen, but we’ll see what happens when I have start lugging this boat anchor around on my person.

On the public side, 9 to 5 Mac is covering a report from Ming-Chi Kuo, which suggests 2018 iPhone sales are up.

And, suggests the new 6.5-inch OLED iPhone model will likely be priced around $1,000 (same as iPhone X) and feature dual SIM capabilities.

The new device is expected to come in a “plethora” of colors, including black, white, gold for the 6.5-inch version, and the 6.1-inch LCD iPhone will debut in “grey, white, blue, red, and orange.”

All I can say to that is, “Remember the iPhone 5C” which came in more colors than a small crayon box and which languished on the shelves, begging to be bought like a “Toy Story” orphan.

 

Written by turbotodd

July 5, 2018 at 10:15 am

Posted in 2018, iPhone

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Automation Nation

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Happy Tuesday.

On the World Cup schedule today: Sweden vs. Switzerland, and Columbia vs. England.

Meanwhile, it’s back to automation nation. Automation Anywhere, a San Jose, California-based robotic process automation startup has announced it raised $250 million in a funding round led by New Enterprise Associates and Goldman Sachs.

According to a report from Venture Beat, Automation Anywhere’s platform employs software robots, or bots, that make business processes self-running:

Using a combination of traditional RPA and cognitive elements such as unstructured data processing and natural language understanding, the system is able to crunch through tasks that normally take hundreds of thousands of human employees.

As to what the company will do with this new round:

The firm plans to spend the bulk of the new capital on deepening customer engagements in North America, India, Europe, Australia, Japan, South Korea, and Singapore, CEO and cofounder Mihir Shukla said in a statement. It also intends to invest in “specialized” machine learning capabilities and new integrations designed to drive “higher operational efficiency” and “flexibility.”

The company’s CEO, Mihir Shukla, was also quoted in the piece as saying that “We believe our Intelligent Digital Workforce Platform can automate up to 80 percent of [an enterprise’s business processes].

That’s far more than its own customers claim can be automated (20 percent).

Written by turbotodd

July 3, 2018 at 10:07 am

My World Cup Runneth Over

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If you’re a soccer fan (even if the U.S. men’s team didn’t make it into this year’s World Cup, which it most certainly did not), then you had plenty of drama over the weekend and into Monday.I don’t even know where to start.

Over the weekend in the knockout round, France beats Argentina, Uruguay beats Portugal, Russia beats Spain, Croatia beats Denmark (both those last two games went to penalty kicks).

Today, Brazil beat Mexico, and Belgium comes back from a 2-0 deficit to somehow win 3-2.

Obviously, seeing Argentina and Portugal go gentle into that good knockout round is hard for world soccer fans to see, especially considering they have some of the world’s best players.

On the other hand, it IS a team sport, a very collaborative one at that (meaning, you can’t just depend on Ronaldo and Messi), and those who have made it this far are playing a long, and increasingly careful, game to get into the quarterfinals.

I have not seen every team play yet, so I’m holding off on my predictions for the moment.

Up next: Sweden vs. Switzerland and Columbia vs. England tomorrow. We’ll see if they’re as nail biting as several of these knockout round games have been!

Written by turbotodd

July 2, 2018 at 4:49 pm

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