June Tech Round-Up: the Cybersecurity Edition
This month we delve into the murky world of cybercrime, which these days represents an existential threat to most businesses. Whether you’re a founder, an investor or a board member - if you’re ill-prepared, you’re most likely going to suffer. It’s no longer ‘if’, it’s ‘when’ this is going to happen to you.
Our advice? Read this piece then call your Chair, your CEO or your CISO straight away and schedule a detailed review of your company’s readiness. It’ll probably be the best thing you do all year.
Enjoy, from all of us at North Ridge Partners.
Original Thinking from North Ridge Partners
The cybercrime ecosystem is worth trillions. It’s an economy based upon a sophisticated supply chain of providers who respond like all other rational actors to risk and reward incentives, and who have learned the value of specialisation and comparative advantage when determining where their particular skill set best plugs into the machine. It’s a win-win - unless you are at the wrong end of the chain, paying the bills.
Click here to read this month’s original thinking.
News from the Cyber Battle Front
The world’s most significant cyber breaches, listed in chronological order. It’s unnerving when you delve beneath the surface. And if that’s not enough to have you quaking in your boots, here’s Statista’s list and here are the biggest hacks of 2024.
The snowball effect - in a flash, Snowflake’s cyber incident snowballs.
Cyber and geopolitics: the ASEAN perspective on China as a threat, and what the White House thinks about Cyber Security.
Never underestimate Singapore. As usual, the Red Dot is thinking ahead with legislative changes and new investments in cyber protection.
Big Tech News
Salesforce shares suffer their worst daily reversal in two decades despite a strong quarter.
Alphabet flags an end to mass layoffs by year-end.
Meta doubles down on AI investments, yet remains committed to the metaverse.
Giddy up! Expect 10-15 more tech IPOs in 2024, says Morgan Stanley.
Asia Pacific Tech News
Southeast Asia is the Next Big Thing - so say the Tech Giants!
At Taiwan tech show, Nvidia chief Jensen Huang hails “next industrial revolution” and flags accelerating AI with new product launches.
TikTok still expects to achieve strong ecommerce sales in the US, targets $12-13bn in GMV, according to reports.
From hero to Byju’s: the former Indian hero’s fall from $22bn to zero.
Stuff We Found Interesting
Is BigTech is cutting back on safety? OpenAi team walks as Alphabet Privacy Head resigns.
OpenAI and Google DeepMind employees call for whistleblower protections over the dangers of AI.
Can you trust your artificial assistant?
Now that’s scary. Microsoft CEO says Windows PCs will remember everything you do – with continuous screenshots fed into an LLM.
Tech Investment Banking Across Asia Pacific
North Ridge Partners advises tech companies across the Asia Pacific on strategy, capital raising and M&A. We’re experienced dealmakers who have built and sold many tech companies. In partnership with GP Bullhound, we have 200 bankers in 17 global offices.
Contact us here.
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