Newsletter: May 23rd

Friends,

Welcome to this week’s newsletter!  A lot of interesting things happening since the last newsletter.

Crypto Currency

Crypto currency is all the rage.  I am not going to comment on the wisdom of investing in crypto currencies.  However, there risks from scams to hacking .  If crypto currencies become even more ubiquitous, then we might be opening up a whole new avenue for cyberattacks.

Takeaway:

  • Investing in crypto currency is risky, not only from a financial perspective but also from a cybersecurity perspective.

Another Cyberattack

This time, the attack was on Irish hospitals. What makes this attack unique is that the hackers may not have used standard methods of phishing to deploy the ransomware.  Rather, they attacked the software itself.  This is further evidence of the need for the current administrations executive order to ensure software has been validated for security.

Takeaway:

  • Until software cybersecurity validation by the federal government comes into effect, only use reputable applications and programs.

Chip Crisis

The pandemic has taught us a lot about supply chains.  One of the lessons is that our microchip supply chains are very fragile.  All sorts of industries are feeling the effect from mobile phones to auto makers.  These industries are now lobbying the administration for some sort of relief.

Takeaway:

  • We as a nation have to treat chip fabrication the way we treated oil.

Automation

The shift to more automation marches on despite all of these concerns.  Johnson controls wants automated buildings.  Meanwhile, businesses are looking for ways to automate jobs to make up for the labor shortage.

Takeaway:

  • All of the issues that this newsletter addresses should not deter companies from automating.  We just need to automate smartly and safely.

Administration

The Biden administration is responding to the recent cyberattacks with more funding towards cybersecurity .

Takeaway:

  • It’s about time.  We have been neglecting cybersecurity for over a decade.

A couple of quick admin notes:

  • There will be no newsletter next week due to the Memorial Day Holiday.
  • Our next newsletter will come through substack.  So if you do not receive it the first weekend in June, check your Spam box.
  • If anyone is gainfully unemployed this Wed, 5/26 at 5:30 pm EDT, we will be posting a Facebook Live event where we will be discussing cybersecurity and answering any questions https://www.facebook.com/PinarusTech

Have a great week!