Tag Archives: Technology

Millions of Americans Fall Victim to Identity Theft

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While online, your personal information is constantly exposed to bad actors. Take actions to protect your identity and prevent the theft of your identity.

A shocking amount of information about you can be found online. From Social Security numbers to bank account numbers to social media profiles, a savvy thief potentially has access to all the data he or she needs to assume and steal your identity.

Identity theft is a serious crime. It happens when someone uses your Social Security number or uses other personal information about you without your permission to open new accounts, make purchases or get tax refunds. They could use your:

  • Name and address
  • Credit card or bank account numbers
  • Social Security number
  • Medical insurance account numbers

Many Americans whose information was compromised did not realize their identity was stolen until years later when they tried to buy a car, file tax returns or purchase a home.

Experts warn that identity thieves can use social engineering to steal your information. Social engineering is the art of manipulating someone to divulge sensitive or confidential information that can be used for fraudulent purposes.

Social engineering can happen everywhere, online and offline. And unlike traditional cyberattacks, whereby cybercriminals are stealthy and want to go unnoticed, social engineers are often communicating with you in plain sight. Consider these common social engineering tactics that one might be right under your nose.

  • Your “friend” sends you a strange message. Social engineers can pose as trusted individuals in your life, including a friend, boss, coworker, even a banking institution, and send you conspicuous messages containing malicious links or downloads. Just remember, you know your friends best — and if they send you something unusual, ask them about it.
  • Your emotions are heightened. The more irritable we are, the more likely we are to put our guard down. Social engineers are great at stirring up our emotions like fear, excitement, curiosity, anger, guilt, or sadness.
  • The request is urgent. Social engineers don’t want you to think twice about their tactics. That’s why many social engineering attacks involve some type of urgency, such as a sweepstake you have to enter now or a cybersecurity software you need to download to wipe a virus off of your computer.
  • The offer feels too good to be true. Ever receive news that you didn’t ask for? Even good news like, say winning the lottery or a free cruise? Chances are that if the offer seems too good to be true, it’s just that — and potentially a social engineering attack.
  • You’re receiving help you didn’t ask for. Social engineers might reach out under the guise of a company providing help for a problem you have, similar to a tech support scam. And considering you might not be an expert in their line of work, you might believe they’re who they say they are and provide them access to your device or accounts.
  • The sender can’t prove their identity. If you raise any suspicions with a potential social engineer and they’re unable to prove their identity — perhaps they won’t do a video call with you, for instance — chances are they’re not to be trusted.

A thief can get your personal information in person or online. Here are some ways thieves might steal someone’s identity. A thief might:

  • Steal your mail or garbage to get your account numbers or your Social Security number
  • Trick you into sending personal information in an email
  • Steal your account numbers from a business or medical office
  • Steal your wallet or purse to get your personal information

Identity experts share five recommendations for how to protect your identity:

  • Once a year, order and closely review a free credit report from each national credit reporting agency: Experian, Equifax and Transunion.
  • Browse and purchase online while only using a secure connection. Never use autofill features when filling out online forms, unless it is on a trusted site.
  • Refrain from giving solicitors personal or financial information over the phone, by email or through pop-up message.
  • Opt out of pre-screened offers of credit and insurance by mail.
  • Avoid oversharing on social networking sites so you’re not sharing a potential scam with others.

If you do think you’re a victim, call the three major credit bureaus and place a credit freeze and file a report with law enforcement.

Even if you don’t believe it’s that big of a deal, reporting these crimes can help law enforcement prevent others. It took identity theft victims an average of 10 hours to resolve the fraud in 2020, according to LifeLock.

Moreover, you may be responsible for what the thief does while using your personal information. You might have to pay for what the thief buys. This is true even if you do not know about the bills.

How can that happen?

  • A thief might get a credit card using your name.
  • He changes the address.
  • The bills go to him, but he never pays them.
  • That means the credit card company thinks you are not paying the bills.
  • That will hurt your credit.

This is the kind of trouble identity theft can cause for you.

Your best defense against identity theft and social engineering attacks is to educate yourself of their risks, red flags, and remedies. To that end, stay alert and avoid becoming a victim.

References:

  1. https://www.consumer.gov/articles/1015-avoiding-identity-theft#!what-it-is
  2. https://us.norton.com/internetsecurity-emerging-threats-what-is-social-engineering.html
  3. https://www.usnews.com/360-reviews/identity-theft-protection

T-Mobile Data Breach – Was Your Digital Data Compromised

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T-Mobile confirmed that its customers’ data had been accessed without authorization in a breach that may impact more than 100 million of its users.

According to an underground forum post, the data for sale includes social security numbers, phone numbers, names, physical addresses, IMEI numbers, and driver licenses information.

T-Mobile is conducting an extensive analysis alongside digital forensic experts to understand the severity of the breach, and they’re coordinating with law enforcement.

This is the third time in recent years that a data breach has hit the wireless carrier.

Have You Been Pwned

Have you been affected by a past or recent data breach? Fortunately, you can minimize your chances of getting “pwned” in the future by using https://haveibeenpwned.com/, a free tool created by Troy Hunt, a Microsoft Regional Director and Most Valuable Professional awardee for Developer Security.

The word “pwned” has origins in video game culture and is a derivation of the word “owned”, due to the proximity of the “o” and “p” keys. It’s typically used to imply that someone has been controlled or compromised, for example “I was pwned in the Adobe data breach”.

The “Have I Been Pwned” (HIBP) site can reveal whether your log-in credentials, financial data, or other details have been stolen or leaked online, and send email alerts about new data breaches.

Consumer Reports

To tighten up your digital security, it’s important to know which of your accounts have been affected. That’s a task you can accomplish at the free site “Have I Been Pwned”, a resource that is widely recommended by security experts and by Consumers Reports. (The term “pwn” is hacker jargon for compromising or taking control of a computer or an application.)

Consumer Reports has been steering people to Have I Been Pwned for years, and the site has gradually become more robust, adding features and expanding its records of compromised data.

Data breaches are rampant and many people don’t appreciate the scale or frequency with which they occurred, according to HIBP. By aggregating the data helps victims learn of compromises of their accounts, but also highlights the severity of the risks of online attacks on today’s internet.

Reference:

  1. https://www.macrumors.com/2021/08/16/t-mobile-data-breach
  2. https://www.consumerreports.org/data-theft/how-to-use-have-i-been-pwned-data-breach-a6598286668
  3. https://haveibeenpwned.com/

Investing in Edge Computing: Cloudflare

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Cloudflare’s platform helps clients secure and accelerate the performance of websites and applications. Motley Fool

Cloudflare (NYSE:NET), which completed its IPO in 2019, is a software-based content delivery network (CDN) internet security company that uses edge computing to protect against cybersecurity breaches. The whole premise of edge computing is to bring the access points closer to the end users. Cloudflare has access points at over 200 cities throughout the world, and they claim that 99% of Internet users are close enough that they can access the network within 0.1 seconds or less.

This internet infrastructure company manages the flow of information online and therefore plays an important role in migrating data from the cloud to the edge. Its platform helps clients secure and accelerate the performance of websites and applications. And, it offers myriad security products and development tools for software engineers and web developers.

The public internet is becoming the new corporate network.

Cloudflare is a leading provider of the network-as-a-service for a work-from-anywhere world. Effectively, the public internet is becoming the new corporate network, and that shift calls for a radical reimagining of network security and connectivity. Cloudflare is focused on making it easier and intuitive to connect users, build branch office on-ramps, and delegate application access — often in a matter of minutes.

No matter where applications are hosted, or employees reside, enterprise connectivity needs to be secure and fast. Cloudflare’s massive global network uses real-time Internet intelligence to protect against the latest threats and route traffic around bad Internet weather and outages.

Edge computing

While cloud computing houses data and software services in a centralized data center and delivers to end users via the internet, edge computing moves data and software out of the cloud to be located closer to the end user.

Edge computing reduces the time it takes to receive information (the latency) and decreases the amount of traffic traveling across the internet’s not-unlimited infrastructure. Businesses that want to increase the performances of their networks for employees, customers, and smart devices can take advantage of edge computing to bring their apps out of the cloud and host them on-site either by owning and using networking hardware or paying for hosting at localized data centers.

The company recently launched Cloudflare One, a network-as-a-service solution designed to replace outdated corporate networks. Cloudflare One acts as a secure access service edge (SASE). Rather than sending traffic through a central hub, SASE is a distributed network architecture. This means employees connect to Cloudflare’s network, where traffic is filtered and security policies are enforced, then traffic is routed to the internet or the corporate network.

This creates a fast, secure experience for employees, allowing them to access corporate resources and applications from any location, on any device.

Enterprise accelerating growth

Cloudflare has gained hundreds of thousands of users with a unique go-to-market strategy, according to Motley Fool. It launches a new product for free (with paid premium features) to acquire lots of individual and small business customers and then markets its new product to paying enterprise customers.

Cloudflare has created a massive ecosystem that it can leverage to land new deals and later expand on those relationships. It’s what makes this company a top edge computing pick since businesses and developers continue to flock to the next-gen edge network platform.

There is increased risk associated with a small-cap, pure-play edge computing company like Cloudflare.

References:

  1. https://www.fool.com/investing/stock-market/market-sectors/information-technology/edge-computing-stocks/
  2. https://www.cloudflare.com
  3. https://www.fool.com/investing/2021/06/17/forget-amc-this-growth-stock-could-make-you-rich/

Bill Gates: Avoiding a Climate Disaster

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“Do what you can to help keep the planet livable for generations to come.”  Bill Gates

With a new book ‘How to Avoid a Climate Disaster,’ Bill Gates is obsessed with developing clean technology and innovative solutions to combat climate change through his philanthropic work and alongside cadre of billionaire partners.  Additionally, in his new book, he proposes an action plan based on employing technology, innovation and global cooperation to tackle climate change and for ending the world’s carbon dependency.

Gates argues that “world leaders need to shift their focus to long-term strategies aimed at creating a zero-carbon future, a task that scientists warn must be accomplished in a handful of decades to head off catastrophic changes.”

For 20 years, Gates has been studying the twin global afflictions of disease and poverty. These efforts led him to consider climate change and its vexing impact on civilization.  Gates, who is 65, has already confronted intractable problems, like trying to eradicate polio. The co-founder of Microsoft also sounded the alarm early about the need to prepare for a global pandemic. Climate change is yet another challenge Gates used his bully pulpit to sound the alarm.

Bill Gates Has a Master Plan for Battling Climate Change

Bill Gates has confidence in the world’s collective ability to avoid the earth’s descent into a landscape of scorched rainforests and liquefying glaciers, yet his proposed prescription is daunting.  Gates is worried that people will get sick of hearing from him sounding the alarm on the perils of climate change as he flies around the globe in his private jet trying to save the planet.

“This is, you know, a harder problem than ending the pandemic or getting rid of malaria,” Bill Gates says of tackling climate change. But “lots of idealistic people [are] pushing the cause forward.”

“I’ve learned from my work at Microsoft and in philanthropy that the best way to encourage others to take action is to start by doing it yourself’, Gates said. “President Biden has already taken an important first step by rejoining the Paris climate accord. Now the United States can build on that step by adopting a concrete plan that checks several boxes at once: eliminating emissions while adapting to the warming that is already happening, spurring innovative industries, creating jobs for the post-pandemic recovery, and ensuring that everyone benefits from the transition to a green economy.”

In the 15 years that Gates has been learning about and investing in clean energy, he states that he has “benefited from many discussions with scientists, policy experts, and elected leaders from across the political spectrum, in the United States and around the world”.

Drawing on those conversations, he proposes four actions that America and other countries can take to advance their leadership on climate change this year and put the world on a path to zero emissions by 2050:

1.  Increase the supply of innovation.

We need breakthroughs in the way we generate and store clean electricity, grow food, make things, move around, and heat and cool our buildings, so we can do all these things without adding more greenhouse gases to the atmosphere. We have some of the tools we need, like solar and wind power, but far from all of them. And we won’t develop new tools without a dramatic infusion of investment and focus from the federal government.

2.  Increase the demand for innovation.

“I learned the hard way at Microsoft that simply making a great product doesn’t guarantee that you will beat the competition”, Gates explained. “Sometimes there’s just not enough demand for what you’re selling.”

The lesson for climate change is that the world can’t avoid a climate disaster through technological innovation alone. We need policy innovations to make sure that scientists’ breakthroughs make it from the lab to the market, and that they’re affordable enough for developing countries as well as rich ones.

That means doing things like setting standards for how much electricity or fuel must come from zero-carbon options. Governments can also use their procurement power to create demand for cleaner options—for example, buying only electric buses, as the city of Shenzhen, China has done. They can build the infrastructure that allows for green options: charging stations for electric vehicles, or new transmission lines to deliver clean energy from the places where it’s generated to the places where it’s consumed.

Finally, governments can level the playing field so it’s easier for clean alternatives to compete on price.

The idea isn’t to punish people for their greenhouse gases. It’s to create incentives for inventors to create competitive carbon-free alternatives and for consumers to buy them.

3.  Work globally.

Climate change is the definition of a global issue. Temperatures won’t stop going up in Texas unless emissions stop going up in India.

That is why governments need to work together to develop common goals, share knowledge, and make sure that clean technologies developed in one country will spread quickly to others. This cooperation can happen on a bilateral basis—between two countries talking directly to each other—as well as among many governments through venues like the United Nations.

4.  Prepare for a warming world.

“We’re already seeing the impact of climate change”, Gates announced. “So even as we develop and deploy ways to prevent future warming, we also need to adapt to the effects that higher temperatures are having around the world.”

Countries will need to invest in climate-proofing infrastructure to cope with more severe weather and rising sea levels. This includes upgrading electrical grids, expanding storm water drainage systems, and building or expanding seawalls. And two of the best ways for wealthy countries to help low- and middle-income ones is to invest in primary health care and make sure smallholder farmers can grow enough food to feed everyone.

References:

  1. https://www.wsj.com/articles/bill-gates-interview-climate-change-book-11613173337?tesla=y&mod=e2twmag
  2. https://www.politico.com/news/2021/02/15/bill-gates-climate-change-468928
  3. https://www.gatesnotes.com/Energy/4-ways-the-US-can-reassert-leadership-on-climate-change
  4. https://www.gatesnotes.com/Energy/How-to-Avoid-a-Climate-Disaster-announcement

Cyber Security Checklist

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Working Together to Prevent Fraud and Protect Your Financial Data

Threats to your cyber security are constantly growing.  Most organizations have systems in place to protect you, but you can take steps on your own to fight hackers.

Even with tremendous investments in cyber security, the most prevalent way for hackers and fraudsters to gain access is to exploit human behavior through social engineering or simply uncovering information that hasn’t been well protected by a consumer.

It’s hard to keep up with all your accounts and your distributed digital footprint. Following a simple cyber security checklist can help you avoid becoming an easy target for hackers and fraudsters.

1. Use strong passwords and protect them

  • Create long passwords that contain symbols, numbers, and uppercase and lowercase letters
  • Don’t store your passwords anywhere
  • Don’t reuse or recycle your passwords
  • Don’t share your passwords with anyone
  • Change your passwords using a randomly generated schedule
  • Ensure that your passwords bear no resemblance to former passwords 

2. Opt in to multifactor authentication where available. Multifactor authentication requires additional verifying information to grant access to an account. This gives your accounts an added layer of security. Multifactor authentication can include:

  • SMS or email notifications 
  • Biometric identification 
  • Tokens

3. Avoid links from unknown sources in text, email, instant message, social media and websites

  • Be suspicious of any message that asks you to provide personal information. Banks never uses emails or text messages to solicit your personal information.
  • Hover your mouse over hyperlinks to inspect their true destination
  • Make sure you’re on the right site before entering personal information—such as your name, address, birth date, Social Security number, phone number or credit card number
  • Report suspicious email that claims to be from financial institutions to the financial institution
  • Learn as much as you can about phishing

4. Limit what you share on social media and who can view your profile

You should protect the following information in particular:

  • Your birthdate 
  • Your street address
  • Geotagged photos 
  • The time you’re away on vacation

5. Secure your devices

  • Always keep your device’s software updated (use the latest operating system and browser versions available)
  • Download apps from trusted app stores 
  • Turn off Wi-Fi/file sharing/AirDrop options when not in use 
  • Avoid working with personal or sensitive data when you’re using unsecured, public Wi-Fi

6. Secure your important documents

  • Protect your Social Security cards, passports and birth certificates by storing them in a secure place such as a safe deposit box, and only carry them when you need them for a specific purpose. 
  • This information can be used by an identity thief to commit fraud like taking over your financial accounts, opening new loans and credit cards, and establishing utility services in your name.

7. Shred documents containing personal/financial information

  • When you’re done reviewing your paper documents like your receipts, financial statements, or credit card bills, put them in the shredder instead of the trash.

8. Order your credit report annually from each credit bureau

  • Best practice: Order a free copy once a year from AnnualCreditReport.com and from a different bureau (Equifax, Experian, TransUnion) every four months so that you’re always covered.

9. Keep your contact information up to date.

  • Update your email, mobile phone and mailing address.

10. Opt in to security alerts, and promptly respond to the notifications you receive

  • If you haven’t done so already, set up alerts to keep tabs on your account.

 

References:

  1. https://www.bbt.com/education-center/articles/cyber-security-checklist.html
  2. https://www.finra.org/compliance-tools/cybersecurity-checklist

Disruptive Innovation Equals Growth

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Innovation is the key to growth.

In the late nineteenth century, three innovation technologies evolved at the same time and changed the way the world worked and its paradigm. Thanks to the introduction of the telephone, automobile, and electricity, the world’s productivity exploded as costs dropped, unleashing demand across the globe.

Today, the global economy is undergoing the largest technological transformation and displacement in history thanks to disruptive innovations.

ARK defines ‘‘disruptive innovation’’ as “the introduction of a technologically enabled product or service that changes an industry landscape by creating simplicity and accessibility while driving down costs.”

Innovation meets three criteria

“Over time, innovation should displace industry incumbents, increase efficiencies, and gain majority market share, offering growth opportunities for investors. More importantly, disruptive innovation impacts and concerns all of our lives and changes the way the world works.” Cathie Wood, Founder, CEO & CIO, ARK Investment Management LLC

According to ARK Investment Management, disruptive innovation will:

  • Experience significant cost declines and unleash waves of incremental demand. When a technology crosses certain cost or performance thresholds, its addressable market can widen and diversify dramatically.
  • Cut across sectors and geographies. A technology that cuts across industries and geographies can enjoy dramatic increases in addressable markets as applications are “discovered” by different business sectors. Spanning across sectors also provides better product-market fits, insulates against business cycle risk, and garners attention from multiple disciplines.
  • Serve as a platform atop which additional innovations can be built. A technology upon which other innovations can be built may expand its use-cases in ways that are almost impossible to imagine. As a result, innovation platforms may be underestimated over expansive time horizons because successful forecasts require anticipation of the scope of new products and services.

Today’s disruptive innovations include:

  • Artificial Intelligence
  • Robotics and Automation
  • Blockchain and Cryptoassets
  • DNA Sequencing and Gene Editing
  • Fintech Innovation
  • Energy Storage and Battery Tech
  • Next Generation Internet

For example, artificial intelligence (AI)  learning systems will transform not only retail, media and telecom, as did the Internet, but all sectors in the economy, even those previously thought impervious to disruption, notably health care and financial services.

Invest in the future

Disruptive innovation displaces industry incumbents (like digital photography has erased Kodak and Fuji film companies), increase efficiencies, and gain majority market share.

The threat to existing businesses is grave. The long-term opportunities for companies participating in this change could relate to exponential growth.

References:

  1. https://ark-invest.com/investment-process/
  2. https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/Marketing_Material/ARK-Invest-Thematic-Investment-Process.pdf?__hstc=13933160.99f789dd545191653572e5ece0571091.1584118328216.1587939706096.1587954906355.105&__hssc=13933160.8.1587954906355&__hsfp=101573855
  3. https://ark-invest.com/invest-in-innovation/

Sorrento Therapeutic’s COVID-19 Test

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Sorrento’s COVID-19 test appears to be superior to competing diagnostics, and it just made a good acquisition, while its overall strategy is sound.

Sorrento has produced a coronavirus test which is expected to be approved and then become widely used in the U.S. and potentially around the world.  The company requested emergency use authorization (EUA) from the Food and Drug Administration for its COVI-TRACK diagnostic test, which detects novel coronavirus antibodies. It also plans to file for an EUA for COVI-TRACE, a rapid salivary diagnostic test licensed from Columbia University.

Sorrento has been even more active in developing potential treatments for COVID-19. The biotech filed for FDA approval earlier this month to begin a phase 1 study of antibody therapy STI-1499 (COVI-GUARD) in treating hospitalized COVID-19 patients. It hopes to quickly advance the candidate through clinical testing and perhaps even receive an EUA for STI-1499 as soon as the end of 2020.

a number of test tubes and capsules are pictured under a cool blue light

Source: Shutterstock

Sorrento’s coronavirus test yields results in just 30 minutes, does not require lab equipment and doesn’t have to be sent to labs. As a result, it, unlike other tests, could be used by hospitals, stadiums, hotels, office buildings and other organizations to allow people to safely enter their facilities on the same day that the test is taken.

References:

  1. https://investorplace.com/2020/08/sorrentos-covid-19-test-acquisitions-should-help-srne-stock-surge/
  2. https://www.fool.com/investing/2020/08/24/why-sorrento-therapeutics-stock-is-sinking-today/

Huawei’s Threat to Communications Networks

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Updated: Saturday, 2/15/2020

“Most people are starting to realize that there are only two different types of companies in the world: those that have been breached and know it and those that have been breached and don’t know it. Therefore, prevention is not sufficient and you’re going to have to invest in detection because you’re going to want to know what system has been breached as fast as humanly possible so that you can contain and remediate.” Ted Schlein, a venture capitalist with Kleiner Perkins Caufield & Byers.

To begin the discussion, it is important to understand that communications, such as telecommunications and internet data networks, are vital to national security and are critical infrastructure for every sovereign nation. Since critical electrical grids, 5G technology, autonomous vehicles and even hospitals rely on the communication networks.

U.S. Intelligence Sharing

U.S. Defense Secretary Mark Esper warned allies that letting the Chinese firm Huawei build their next-generation, or 5G, network risks their security cooperation and information sharing arrangements with U.S. intelligence and national security agencies. The U.S. SECDEF remarked that, “reliance on Chinese 5G vendors, for example, could render our partners’ critical systems vulnerable to disruption, manipulation and espionage,” in a speech at the high-level Munich Security Conference in early 2020. “It could also jeopardize our communication and intelligence sharing capabilities, and by extension, our alliances.”

“National security is a serious matter and I do not think it is improper to discuss such details in a public forum.” Narendra Modi

One recent morning on Yahoo Finance, an on-air guest was dismissive about Huawei 5G technology and the U.S. Administration’s allegations that the Chinese technology giant has built backdoors to communication networks that they installed across the globe. Additionally the on-air guest stated that the Trump Administration needs to provide evidence of Huawei’s complicity to spy for China.

What the guest commentator omitted from his less than transparent comments was that unlike U.S. technology and telecommunications companies, Huawei has functioned as a tool for surveillance and espionage for the Communist Chinese government. In addition, they have been significantly subsidized for more than a decade by the Chinese authoritarian government. Thus, this is the reason that they can substantially underbid their Western competitors on 5G network projects across the globe.

Furthermore, despite Huawei’s adamant denials, they have built backdoors into the communications systems that include Huawei technology, equipment and software, or in networks that have been installed by them or their affiliates. Essentially, a backdoor is a method of bypassing a network’s security protocols to access communications or computer network.

Vodafone in Italy

U.S. Intelligence agencies have repeatedly warned allies regarding the potential threat posed by Huawei’s technology if installed in 5G networks. Back in April 2019, Yahoo Finance reposted a Bloomberg article that Vodafone Group, Europe’s biggest phone company, discovered hidden backdoors in the software installed by Huawei that could have given Huawei or the Chinese government unauthorized access into the Vodafone’s voice and data network. Although the backdoor was discovered and reportedly removed by Huawei, subsequent investigations by Vodafone discovered the the backdoor remained.

“We’re talking about the fate of our economy and the questionable resiliency of our Nation’s critical infrastructure. Why are experts so polite, patient, and forgiving when talking about cybercrime, cyber security, and National Security? The drama of each script kiddie botnet attack and Nation State pilfering of our IP has been turned into a soap opera through press releases, sound bites and enforced absurdity of mainstream media. It’s time for a cybersecurity zeitgeist in the West where cyber hygiene is a meme that is aggressively distributed by those who have mastered it and encouraged to be imitated by those who have experienced it.” James Scott.

Deterring Chinese cyber-espionage

We must not allow ourselves either to be misled by Chinese repeated denials or to rely solely on U.S. entertainment media’s reporting by omission regarding the cyber security risks posed to U.S. and its allies’ communications networks once Huawei’s equipment is installed. Effectively, Huawei is a Chinese Communist state-controlled enterprise. And, it operates at the behest of the Chinese Communist Party in surveilling their own citizens, and assisting with spying and espionage against foreign nations.

Bottomline, Huawei, and its affiliates, represent a national security threat to the United States, our allies, and our privacy. If they’re permitted to install their technology, equipment and software in critical communications infrastructure, backdoors and unencumbered access would exist. Their technology does pose a real threat to the economy, the critical communications networks and the critical infrastructure that relies on the communications backbone.

References:

  1. https://www.defensenews.com/congress/2020/02/15/esper-huawei-5g-could-risk-us-information-and-security-ties/?utm_source=facebook.com&utm_medium=social&utm_campaign=Socialflow+DFN
  2. https://www.c4isrnet.com/battlefield-tech/it-networks/5g/2020/02/12/white-house-claims-huawei-equipment-has-backdoor-for-spying/
  3. https://www.state.gov/huawei-and-its-siblings-the-chinese-tech-giants-national-security-and-foreign-policy-implications/
  4. https://www.forbes.com/sites/haroldfurchtgottroth/2017/05/08/chinese-government-helps-huawei-with-5g/#67ea148b6bae
  5. https://www.rickscott.senate.gov/sen-rick-scott-attorney-general-barr-keep-huawei-out-us-markets
  6. https://securityfirstcorp.com/cyber-security-quotes/

Corporations: Value Based and Purpose Driven

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“Doing good is good for business”

According to one corporate Chief Marketing Officer who spoke at CES 2020, sixty-three percent (63%) of global consumers purchase items from companies with purpose. Said another way, a majority of global consumers, either consciously or unconsciously, purchased goods and services from companies whose overriding purpose and values were to make the world better. Purpose must be more altruistic than just increasing shareholders returns through capital gains and growing revenue, cash flow, earnings and dividends.

Salesforce.com

Marc Benioff, founder and Co-CEO of Salesforce.com, strongly advocated that corporations, especially big technology companies, must be a force for good and that brands can play a major role in doing good. He conveyed the message during a C-Suite session this month at CES 2020 that businesses can be mutually financially successful, sustainable and philanthropic business. He stated the point that a business can and should successfully serve the interests of all stakeholders, which includes the planet. In his opinion, every corporate CEO should adopt a public school, public hospital or combat homelessness in the community they operate. In short, all stakeholders have to matter; and, the planet and local community are key stakeholders.

“Don’t read people’s lips; Watch their feet.”

Marc’s company, Salesforce.com, from its beginning is 1999, has made trust its major value and serving all stakeholders’ interests which include giving back to its community a core purpose. Putting action to their words, the company has directed one percent (1%) of corporate resources which is over $300 million (profits, equity, and time) into giving back to the community. He went as far as proposing a corporate tax to battle homelessness. As a result, Salesforce.com has been regularly ranked as one of the best places to work in America and has had a 4,000 percent return on investment (ROI) for their shareholders.

“Businesses are the greatest platform for change.”

In his opinion and how he designed Salesforce.com, businesses are the greatest platform for change and people are basically good; his intent when he left Oracle to start Salesforce.com was to create a company culture based on trust and optimized to enable employees to do good. He felt that “…purpose is defined by the company; it cannot be enforced”.

Stakeholder Capitalism

Stakeholder capitalism, Marc Benioff opined, is a more fair, a more just and a more equitable form of capitalism than its predecessor. It means paying men and women the same. It’s means embracing values of trust, truth and doing the right thing over time. He often asks technology companies’ CEO’s and boards what are their priorities, what are their highest values, and what is truly important to them. Since in his view, making money is easy; doing the right thing takes effort and dedication.

But, leadership is about who you are and what you do. CEO’s of major technology companies must look at their values and purpose. They must assess whether they’re using these influential platforms to make the world better or just to make money. Despite the recent negative news surrounding big technology companies like Facebook on issues of privacy and impacting the U.S. Presidential elections, Marc stated that they can do both…make the world better for all stakeholders and make money for shareholders.

Artificial Intelligence (AI) 101

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“What all of us have to do is to make sure we are using AI in a way that is for the benefit of humanity, not to the detriment of humanity.” –Tim Cook

AI refers to computing hardware being able to essentially think for itself, and make decisions based on the data it is being fed. AI systems are often hugely complex and powerful, with the ability to process unfathomable depths of information in an extremely quick time in order to come to an effective conclusion.

AI infrastructure and machine learning (ML) can process instantaneously vast amounts of data. Thanks to detailed algorithms, AI systems are now able to perform mammoth computing tasks much faster and more efficiently than human minds. It is leading to big strides in the areas of research and development.

AI is being used to transform many areas of everyday life, from healthcare to traffic problems.Narrow Artificial Intelligence (AI) is what we see all around us in computers today.

These intelligent systems such as self-driving vehicles, smart speakers or virtual assistance have been taught or learned how to carry out specific tasks without being explicitly programmed how to do so. Systems programmed with narrow AI can only learn or be taught how to do specific tasks.

General Artificial Intelligence is very different, and is the type of adaptable intellect found in humans, a flexible form of intelligence capable of learning how to carry out vastly different tasks or to reason about a wide variety of topics based on its accumulated experience. This is the sort of AI more commonly seen in movies, but which doesn’t exist today.

Machine learning is where a computer system is fed large amounts of data, which it then uses to learn how to carry out a specific task, such as understanding speech or captioning a photograph. One of the most visible manifestations of AI can be observed with the rise of virtual assistants.

The rise of artificial intelligence (AI) and 5G will be game changers. 5G networks are the next generation of mobile wireless connectivity, offering faster speeds and more reliable connections on smartphones and other intelligent devices. While AI works by combining large amounts of data with fast, iterative processing and intelligent algorithms, allowing the software to learn automatically from patterns or features in the data. Together, the technologies will usher in autonomous systems and potentially solve many of societal problems.

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks. Most of today’s AI examples rely on deep learning and natural language processing. Using these technologies, computers can be trained to accomplish specific tasks by processing large amounts of data and recognizing patterns in the data.