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Any time reprographics like that something you know it's important that cyber threat and this hour we're looking at the cost of countermeasures and our week -- series joining me now from Apollo I'll -- Dave to -- seals fire -- and -- -- CEO thanks for being with us -- appreciate it.
Basically how much -- company's businesses spend on cyber security right now and how much more should they be spending if they really want to be safe.
Thanks revenue Dennison awhile how mean the cost of security at this point has grown literally doubled over the last ten years.
And when you look at the overall cyber security spend globally this reaching thirty billion dollar a year market.
You know that's again off from -- 1015 billion just a decade ago when.
We -- really look at the problem it's very complex and as you know we're now seeing more malware or viruses that we've ever seen.
And fire right we get about 60000.
Bad pieces of malware every day.
And we see a million plus bad web sites every month.
And we put that altogether are the cost of defense for large corporations around the world is very big at this point.
And the attackers are very very sophisticated so very complex problem with a lot of cost involved.
And it seems like maybe when I've been spending nearly enough which of course your business would like a mean if if spinning his doubled in a decade to thirty billion we just -- -- graphic saying that in a single year that was a 600%.
Increase and malware attacks.
So where should the burden for spending more money to get more bulletproof where -- -- lie in companies like yours you better bullet -- the product before they get to me and in other tech vendors.
Or among the businesses -- is that -- a government does stimulus thing we need.
All the problem that we have right now is the the offense of the attackers are very complex that we've seen the news lately the the Chinese militaries involved a lot of attacking we have.
Very sophisticated nation states and ball was stealing intellectual property from around the world.
And the problem is the thirty billion dollars that we're spending every year and cyber security is using an old model.
This anti virus -- such as the blacklisting model that looks for known bad problems in the network.
And the problem is the offense is much more sophisticated than that.
So we need a new way to do it ten.
At least in my company -- we've developed new ways using virtual machines and cloud based software.
To get ahead of that type of problem.
We're seeing the emergence of new technologies and as you mentioned the requirement from the government to work closer with private companies like fire -- To really combine a community to solve these problems because on our own as a private company we can't solve it on -- -- as a government that can't solve it.
And we have very -- nation state stealing in the way they're doing it today.
It requires a whole new methodology to solve it.
Right now we know the banks are already quite aware that their major targets we've had two dozen banks -- consumer web sites frozen in the past month or two.
It seems to me though that the electrical grid.
Nuclear power plants subway lines trains are far more vulnerable far less protected because they never really expected hacker break ins.
And it isn't that a rather vulnerable target if ever we went to war against the Chinese.
And that's what's amazing and my trip -- -- -- and -- report that came on the last two weeks but we see a 141 companies or -- by the Chinese alone from the 18100 occurrences of that.
Over 3000 different ways in which they attacked the networks.
And we look at -- across multiple industries.
And I lower right -- wrong is from the Chinese point of view but stealing from American companies in the way they're doing it it's just appalling to me.
And as you said it's in the energy -- -- transportation sectors in the retail sectors.
And of course in the banking sectors as well where they have.
In not just for crime opportunities.
But also intellectual property as wells a lot of customer consumer information so this is a widespread pandemic.
And now blast that we've seen worst seen more than a hundred countries involved with this probable.
And it's not just a China problem I see Eastern Europe and Russia involved -- that we're -- the Middle Eastern countries involved with it.
And a lot of emerging nations are -- level.
The offense in terms of their opportunity to you know propel their economies by stealing an espionage in the world today so really complex problem -- All right well good -- fight the good fight -- fire I appreciate your being with us -- the -- Thank you.
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