Cybersecurity Profits Are Hiding in the Shadows
Privacy Invasion August 15, 2017 Jeff Yastine
The more people who use a network, the bigger the vulnerabilities. That's a key reason why cybersecurity companies will keep growing for years to come.
I was really stuffed for time, and my “big pipe” data connection at home seemed like it had all the bandwidth of a straw. What was going on?
Ah, the hell with it, I thought. I called my colleague, who was waiting for me to email an important file.
“Hey, my connection’s a little slow. I’ll send you the link via Google Docs, and you can upload the file yourself.”
Little did I know that I was about to commit an act of potential corporate sabotage.
It’s called “shadow IT” — and it’s a key reason why cybersecurity companies will keep growing for years to come…
Dark Clouds Ahead
Using an innocuous cloud service like Google Docs is just one example.
What if you regularly bring your own personal tablet to work to do company business? Or maybe you’re plugging in a little thumb drive into your workstation’s USB port to informally transfer files in and out of your office network?
Or in a large business, someone forgets to tell the IT department about that big, new Wi-Fi printer/scanner that was installed a few months back?
Those are just a few examples of shadow IT. The more people who use a network (and the more devices and systems attached to it), the bigger the vulnerabilities.
For instance, a recent survey found that the average hospital was running more than 900 cloud services alone!
No wonder health care firms seem to fare the worst whenever a new virus or computer attack arises. As just one example among hundreds, the recent ransomware attacks that swept across Europe, Asia and the U.S. back in June disabled the digital dictation service used by hospitals in San Antonio, Texas — bringing consultations, referrals and, most importantly, billing to an abrupt halt.
In another example a few years ago, Chinese hackers broke into the computer networks of one of the nation’s largest hospital groups, Community Health Systems, and stole the personal data records for more than 4 million patients.
A Wave of New Spending
It’s no wonder then that in a recent survey by Becker’s Hospital Review, 73% of hospitals said they would increase their spending on cybersecurity.
If we do a little math, an average hospital’s yearly revenue is around $160 million. Of that, a hospital will spend roughly 2.5%, or $4 million, on IT. Multiply that figure by the 5,000 or so hospitals in the United States, and it soon adds up to a wave of new spending on cybersecurity products and services.
And bear in mind, that’s only one part of the U.S. economy.
That’s why experts believe cybersecurity is on track to be a $1 trillion business by 2021. A major uptick in spending is coming down the line “to the tune of 12% to 15% year-over-year growth through 2021,” according to analysts.
It’s also the reason why I’m making cybersecurity one of the cornerstones of my Total Wealth Insider service. Our next stock picks are designed to ride the massive spending wave coming to this critical part of the global economy.
Kind regards,
Jeff L. Yastine
Editor, Total Wealth Insider
Editor’s Note: Bob Bauman’s Passport Book contains secrets for keeping your personal information safe … such as the one nation that offers the highest level of personal and business privacy in the world. The essential knowledge in this book can save you from incarceration … and could even save your life! To order your copy today, click here.
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Cybersecurity Profits Are Hiding in the Shadows
Privacy Invasion August 15, 2017 Jeff Yastine
The more people who use a network, the bigger the vulnerabilities. That's a key reason why cybersecurity companies will keep growing for years to come.
I was really stuffed for time, and my “big pipe” data connection at home seemed like it had all the bandwidth of a straw. What was going on?
Ah, the hell with it, I thought. I called my colleague, who was waiting for me to email an important file.
“Hey, my connection’s a little slow. I’ll send you the link via Google Docs, and you can upload the file yourself.”
Little did I know that I was about to commit an act of potential corporate sabotage.
It’s called “shadow IT” — and it’s a key reason why cybersecurity companies will keep growing for years to come…
Dark Clouds Ahead
Using an innocuous cloud service like Google Docs is just one example.
What if you regularly bring your own personal tablet to work to do company business? Or maybe you’re plugging in a little thumb drive into your workstation’s USB port to informally transfer files in and out of your office network?
Or in a large business, someone forgets to tell the IT department about that big, new Wi-Fi printer/scanner that was installed a few months back?
Those are just a few examples of shadow IT. The more people who use a network (and the more devices and systems attached to it), the bigger the vulnerabilities.
For instance, a recent survey found that the average hospital was running more than 900 cloud services alone!
No wonder health care firms seem to fare the worst whenever a new virus or computer attack arises. As just one example among hundreds, the recent ransomware attacks that swept across Europe, Asia and the U.S. back in June disabled the digital dictation service used by hospitals in San Antonio, Texas — bringing consultations, referrals and, most importantly, billing to an abrupt halt.
In another example a few years ago, Chinese hackers broke into the computer networks of one of the nation’s largest hospital groups, Community Health Systems, and stole the personal data records for more than 4 million patients.
A Wave of New Spending
It’s no wonder then that in a recent survey by Becker’s Hospital Review, 73% of hospitals said they would increase their spending on cybersecurity.
If we do a little math, an average hospital’s yearly revenue is around $160 million. Of that, a hospital will spend roughly 2.5%, or $4 million, on IT. Multiply that figure by the 5,000 or so hospitals in the United States, and it soon adds up to a wave of new spending on cybersecurity products and services.
And bear in mind, that’s only one part of the U.S. economy.
That’s why experts believe cybersecurity is on track to be a $1 trillion business by 2021. A major uptick in spending is coming down the line “to the tune of 12% to 15% year-over-year growth through 2021,” according to analysts.
It’s also the reason why I’m making cybersecurity one of the cornerstones of my Total Wealth Insider service. Our next stock picks are designed to ride the massive spending wave coming to this critical part of the global economy.
Kind regards,
Jeff L. Yastine
Editor, Total Wealth Insider
Editor’s Note: Bob Bauman’s Passport Book contains secrets for keeping your personal information safe … such as the one nation that offers the highest level of personal and business privacy in the world. The essential knowledge in this book can save you from incarceration … and could even save your life! To order your copy today, click here.
Follow Jeff Yastine on Your Favorite Social Media Platform
Twitter Icon Facebook Icon Google Plus Icon Tumblr Icon Medium Icon Stock Twits Icon Stock Twits Icon
Editor’s Note: I, along with a few esteemed colleagues, publish our insight in our e-letters called Sovereign Investor Daily and Winning Investor Daily. Every day, we send you our very best ideas to help protect and grow your wealth. Sign up below for free.
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Time to capitalize on the potential of fixed wireless access
Up to 50% of the world’s citizens are still waiting for reliable broadband access. For mobile operators, that market demand offers a huge opportunity for growth. Fixed wireless access (FWA) provides a bridge to those potential customers.
With a fixed wireless access offering, network operators can supply vast amounts of new customers with broadband internet. By delivering broadband over existing LTE mobile networks, operators can rapidly increase revenue in untapped markets. Today, operators may be underutilizing as much as 80% radio spectrum in suburban and rural areas, but now it is possible to turn that unused spectrum into a valuable consumer offering.
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FWA is a high performance yet cost-effective solution to provide broadband in many areas where fixed broadband (such as DSL, cable or fiber alternatives) are limited.
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White House hides troop numbers in Iraq, Syria, Afghanistan
Olivier Knox Tue, 12 Dec 11:06 AM GMT+8
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The White House left out the number of U.S. troops fighting in Afghanistan, Iraq and Syria from a semi-annual accounting it provided to Congress on Monday. In a previous report, sent to Congress in June, the administration had said how many Americans are in those war zones.
The omissions reflect President Trump’s eagerness to keep secret the size of U.S. deployments in some global hot spots under the theory that the numbers, no matter how vague, might give extremists and other enemies a strategic advantage, a senior administration official told Yahoo News. Military, congressional and even some other administration officials privately dispute that notion and say some transparency is necessary for informed debate about America’s use of force. It is unclear whether the administration detailed the figures to Congress in a classified addendum to the letter.
Oddly, the White House decision to omit the figures for Afghanistan, Iraq and Syria comes after the Pentagon, at the urging of Defense Secretary James Mattis, disclosed force levels for all three. In a late August briefing, officials said that roughly 11,000 troops were serving in Afghanistan, to be reinforced by another 3,000-4,000 under Trump’s new strategy for waging America’s longest war. And in early December, the Pentagon told reporters that 5,200 Americans were serving in Iraq and another 2,000 were in Syria. The latter marked a notable increase from the previously disclosed figure of 500.
The report goes to Congress every six months under the 1973 War Powers Resolution, which lawmakers passed in an effort to make presidents more accountable for the deployment of U.S. troops in the wake of the Vietnam War. The June report, like others before it, disclosed the presence of some 645 U.S. military personnel in Niger, where months later an ambush left four Americans dead and set off a controversy in Washington, where some politicians claimed not to know about the American presence.
U.S. Army Gen. John Nicholson, center
U.S. Army General John Nicholson, commander U.S. forces in Afghanistan, after an exercise in Logar province, Afghanistan, Nov. 30, 2017. (Photo: Rahmat Gul/AP)
Six months ago, the White House’s letter disclosed 8,448 Americans serving in Afghanistan, 5,262 in Iraq, and 503 in Syria. The new version does not provide those figures or a reason for their omission.
Among the other changes from the previous letter, the administration now says that a “small number of United States military personnel” operate in Yemen against al-Qaida and ISIS. The prior report made no mention of U.S. forces on the ground there.
The June 2017 letter said some 2,850 American military personnel were deployed in Jordan; the number is now 2,300.
Lebanon was not mentioned six months ago. The new letter says that approximately 100 U.S. troops are there at the government’s request to shore up its counterterrorism capabilities.
The letter sent Monday says about 800 U.S. military personal are deployed in Niger, up from 645 six months ago. But where the previous letter noted that approximately 300 were in Cameroon, the new report notes a U.S. presence but omits a number. The June 2017 letter said some 410 American military personnel were in the Central African nations of Uganda, the Republic of South Sudan, the Democratic Republic of the Congo, and the Central African Republic. The new report omits those deployments.
The earlier report made no mention of the Philippines. The new one says an unspecified number of U.S. forces are “providing support to the counterterrorism operations of the armed forces” there.
In Egypt, the number of U.S. military personnel has dipped from 700 six months ago to about 400, according to the new letter.
Read more from Yahoo News:
Now I Get It: Houston, we have a space junk problem
In Israel, even the left backs Trump on Jerusalem
Japanese defense in the age of North Korean missile successes
Divided by symbols, Americans see a ‘serious threat’ across the aisle
Photos: Wildfires in Southern California force thousands to flee
Photos: Trump visits Mississippi’s civil rights museum amid protests
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