This is a 'black eye moment' for CrowdStrike and cybersecurity sector, says Wedbush's Dan Ives
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- Опубликовано: 14 окт 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.
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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" ?
My company is having lots of problems.
4 day weekend!
Release updates on a FRIDAY into PRODUCTION is crazy
Code deployment 101
😂😂😂😂
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.
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.
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 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.
Super article, many new and interesting facts.
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 :)
Klaus Schwab coincidentally predicted worldwide tech outages at the WEF years ago
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.
The license agreement that customers have to sign to buy the product will exempt CrowdStrike from any lawsuits.
"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
Employee's 4th month at the company: "Whoops..."
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.
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.
@@jag-s5g That's another reason why Trump hates CrowdStrike. It was even on 60 minutes four years ago..
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...
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.
A few people, besides Dan Ives, on CNBC don't know the difference between "eco" and "echo".
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?
Is it too early to buy the dip or is it going much lower? How many lawsuits can we expect?
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.
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
Somebody has to go through each and every machine affected at the local keyboard. How many individual Windows machines are at CNBC?
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.
Who is going to verify that the fix has been deployed ?
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.
I work in cybersecurity, what the hell did I do?
You pressed the connect all button… kaboom.
Thanks for the OT Crowdstrike.
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.
Finally CrowdStruck!!
There’s a glitch in the Matrix !!!!!!
No, there isn't you posted here just fine. move along
This is why you shouldn’t monopolize cybersecurity giants. Doesn’t take much to shut the whole system down
Just wait until Crowdstrike prevents an AI cybersecurity disaster.
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
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 .
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!!
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.
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???
Just because you have a disclaimer of liability doesn't mean you cannot be sued.
Wait until Blackrock’s AI Aladdin goes haywire. You ain’t seen nothing yet.
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.
Oh good, it was just an “issue” thanks Mr. CEO man.
Time for a class action lawsuit that will bankrupt CrowdStrike.
Would be ironic if CrowdStrike’s
engineers were using Microsoft’s Copilot🤔💭
Doesn't Crowdstrike have a single ITIL certified person on their staff?? I guess they don't care about Change management. ☹
They involuntarily forced a software update that destroyed their clients ability to operate their business. They are screwed. What happened to SolarWind?
"It's a get out the popcorn moment" .
Learning opportunity:
Too many eggs in one basket. Decentralize (& diversify back-up) for resilience.
True for all vital systems & infrastructure.
Crwodstrike CEO sold1.49 million $ of stock 3 days ago. I'll just leave it there.
This will just make MLOPS more stronger.
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
Microsoft should do their own cybersecurity. Crowdstrike will have some serious financial issues in their hands in the next year or so, investors beware...
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.
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 👀
That poor guy- he looks beat. I'm reminded of the movie Airplane! -"Looks like I picked a bad week to quit smoking... to quit drinking... to quit sniffing glue."
some CrowdStrike guy probably pushed an update live without sandbox testing it.
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
need less centralization not more. Wasnt kurtz with macfee when it had a major failure too.
And that is in the middle of Kaspersky being pushed out of US market
This is another classic case of putting all your eggs in one basket-like letting George Kurtz handle your McAfee updates. Once bitten, twice shy!" The CTO (Chief Technology Officer) of McAfee at the time of the 2010 faulty update incident was George Kurtz. This guy likes to make his mistakes twice.
I was not very impressed in the clip with him - it did not seem like he realy thought of it like his probem - but more a probem of the customers
They didn't test the update. Pure laziness. Samsung did the same this year; thousands of AT&T customers affected.
Finally, the name-sake company does what it names, Strikes the internet!
Yall love that word “unprecedented” every year
WHY are our systems so vulnerable that if there's an disruption in one company, so many things go down within a whole continent? That's just crazy. It's is a recipe for a major disaster that's most likely just around the corner. Too many vital services depend on one internet company.
Redundancy costs money. Even if their customers were willing to pay more that money would go to shareholders and bonuses.
Would've never happened with Blackberry.
Selling ALL my CrowdStrike Stock....this is a epic disaster
AI comment
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.
everybody knows crowdstrike now, nice publicity
Theyve been an industry leader for years. They didn't need this bad publicity.
Sentinel one now doesn’t seem so bad 😂
This is what happens when you allow huge corporations to dominate the market and monopolize.
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.
Is our country safe now?😳
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!!!!!
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.
Do they not do canary release? How you gonna blame the eng when it’s a process issue
“The real damage is the brand damage.” What a completely out of touch statement.
This interview tells me Dan Ives knows little about stuff he is called to speak to..
DAN IVES IS A COMPLETE AND UTTER CLOWN
This had nothing to do with the cloud or even Microsoft. This is a tool companies purchased from another company and installed themselves.
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
Pushing to production on a Friday, and without testing, is just peak arrogance. Good thing I run my own Linux servers.
Crowdstrike Incompetency or Cyberattack, either way, reveals flaws in the Internet's cyber security. I wonder what Apple's CEO is doing.
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.
DRY RUN for Internet outage!!!! Preparing for November
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
The biggest problem is all of these critical kiosks being Internet of Things. They should be isolated from the internet completely, querying updates that are cached on local servers. These servers should be developed in such a way that they can run on multiple operating systems and multiple hardware stacks so that no single update can take the whole system down. The problem almost always comes down to upper management not wanting to spend the money necessary to make that happen, though there are some idiot IT people out there too.
Sometimes the news only tells us “duh” information. A black eye moment? 😂
wow frombinary code of 0 and 1 thanks crowdstrike now we can see you company!!!
There are already systems that allow rollback on reboot, but many companies sometimes do not ponder this scenario
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.
None of these mainstream news comment about the main issue: centralization, dumb centralization!
The jenius pundit predict more centralization 😂 you are comedians 😂
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 ? '
There is an individual working for Crowdstrike that Fkued up badly and cost the world Trillions today. Who is that persons? Name the name.
Dont worry George Kurtz, if your company goes under you’ll still get your $200 million dollar bonus.