The massive #autoindustry data breach attributed to #CDK continues to unfold, and as a congenital contrarian (and opportunist TBH🤷🏾♂️) I’m fascinated by the class action legal battle that is now making its way through the US courts. 🚗 What are the economic and brand implications for the plaintiffs and the defendant? ⚖️ What does this (and the numerous other data breaches) tell us about potential venture opportunities in the auto industry, a historically under technologized sector (in cybersecurity)? 💸 Perhaps most importantly- for my day job anyway- does this market pattern & resulting economic/ brand consequences point to venture opportunities in the legal or insurance industries?🤔 What are you big 🧠s in my network thinking? Jakub Konieczny Samantha Huang William M. Bill Samuels Azadeh Hardiman Erwin A. Raeth, CFA Keith Marvel Eric R West Marcos Fernandez David Gritz Jason Allen Kate Terry Cynthia Hollen Frances Zelazny Jess Mah Anand Upadhye
My take: tens of thousands of high quality cases are left on the table every year. This is bad for a lot of reasons, but mainly because plaintiffs aren’t compensated for their losses and companies aren’t held accountable. There are certainly opportunities to capitalize on this in a win-win manner Garnet S. Heraman
Yes - no one can now say they DIDN'T know about cyber security threats. Failure to protect your business and customers' data today is negligent. Here are 3 tips companies can do NOW. We can help with a free analysis then recommend solutions to improve security and plug any holes. 1) Do you have a cybersecuirty response plan in place? And who is accountable to executing it in an incident. Find it, review it and make sure it's accurate. If not, what's your plan to update it? 2) Does your company have a 24/7 incident response team? 3) Do you had a disaster recovery plan in place (NOT data backup) that enables all your systems to come back in a few hours should a major breach happen? If you DON'T have a clear answer for all these questions, please reach out and we can help you get answers with a few objective evaluation. Just reach out to [email protected]
Garnet, the legal and insurance sectors seem ripe for innovation given these recurring data breaches. How is UC San Diego exploring these opportunities?
Co-Founder & CEO, Anonybit | Strategic Advisor | Startups and Scaleups | Enterprise SaaS | Marketing, Business Development, Strategy | CHIEF | Women in Fintech Power List 100 | SIA Women in Security Forum Power 100
1mo"This action arises out of Defendant CDK Global’s failure to maintain adequate data security measures, which led to the foreseeable event of a data breach followed by the foreseeable injuries..." This is an interesting development, actually. Most data breaches end up with some fine that businesses oftentimes chalk up to the cost of doing business. But if these businesses now get sued by others for negligence and are being perceived as not being good custodians of personal data, this may become the catalyst to establishing #corporatesocialresponsibility which is so desperately needed. Anonybit is well positioned to serve these use cases with our biometrically-enhanced decentralized data vault that (a) eliminates central honeypots of data, giving attackers nothing to find or steal if they do manage to penetrate a network and (b) binds a user's biometric to the stored data set to minimize access points.