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A Primer On Cybersecurity

Summary

  • We make the case for wider cyber security adoption.
  • We start with terms, definitions and solutions.
  • We discuss breaches, attacks, hacks and current trends.
  • We focus on SaaS companies + the risk of mgmt overconfidence.
  • We finish with an analysis of Crowdstrike and its enormous opportunity.

Manole Capital Management

The Case for Cybersecurity

November 2020

When was the last time you used a computer or phone to handle some kind of sensitive information? Whether or not you care to admit it, it is likely fairly recent. Think of all the times you have bought something online, checked bank statements, used a brokerage account, half-mindedly accepted the use of data tracking software like “cookies”, or perhaps you have committed the all too common sin of agreeing to a list of terms of conditions from which you did not read a single word. Our point is, you have probably left pieces of private information scattered across the web, and they might add up to be more than you think. All these relatively mundane parts of our lives require large swaths of our personal information to function properly and increase efficiency, including names, addresses, credit card numbers, social security information, the list goes on. The rise of eCommerce has significantly increased our online fingerprints. Generally, we expect personal information stored on the internet to be secure, so that it remains out of the hands of malicious online actors; however, this is not always the case.

According to Statista, 165 million sensitive records were exposed in 2019 in the US from cybersecurity breaches. These breaches can be catastrophic for many individuals, having their identities, payment, and other personal information stolen. Gone are the days of large-scale battles fought with bullets and grenades, replaced by government-funded strategic sabotage of critical pieces of public and private technological infrastructure. The United States, Israel, Russia, China, North & South Korea, Iran and many other nations are placing increasing emphasis on their digital warfare efforts. Digital attacks are far more effective than conventional warfare, with little risk of tangible loss. Attacks of this nature target sensitive government documents, personal information of high-profile citizens, private company data, and even key infrastructure like power grids.

This article was written by

Manole Capital Management is a boutique asset manager, based in Tampa, Florida. Launched in 2015, Manole Capital exclusively focuses on the emerging FINTECH industry. Warren joined Goldman Sachs Asset Management in 1994, following graduation from Lehigh University. On GSAM's Growth Equity team, Warren was a portfolio manager on various '40 Act mutual funds, as well as having primary responsibility for certain companies in the financial and technology sectors. After nearly 20 years at GSAM, Warren left and joined Logan Circle Partners in 2013. Leveraging his accounting background from Lehigh University, Warren received his Certified Public Accountant license in 1998. In 2004, Warren received the Chartered Financial Analyst designation.

Analyst’s Disclosure: I am/we are long CRWD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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