Worse than a ransomware?
$CrowdStrike(CRWD.US$ All impacted companies have a liability to face as a result of this world wide outage. It's worse than a ransomware.
In the case of a ransomware, large organisations can safely revive systems by relying on backups from immutable storage solutions. But in the case of this outage, the affected devices cannot be revived as the OS refuses to boot, the breakfix is not something an office worker can attempt and they do not have internet connectivty.
How does IT remedy something that has no connectivity or patch devices that won't boot up or apply a breakfix that requires physical intervention one-device-at-a-time? While the latter seems to be the only way out, its not viable when we are talking about thousands upon thousands of users per organisation, in and out of the city.
The amount of liabilities and consequential losses organisations have to face as a result of their initial trust in Crowdstrike are immeasurable. The whole world will hold each other accountable, think public services, banks, healthcare, aviation, supply chain and managed service providers. All of the above will point back to Crowdstrike.
At this point, i won't be suprised if they start a global boycott once all the fire fighting has been done as the organisations have effectively paid top dollar to get hit by something worse than a ransomeware by the very company that vowed to protect them.
In the case of a ransomware, large organisations can safely revive systems by relying on backups from immutable storage solutions. But in the case of this outage, the affected devices cannot be revived as the OS refuses to boot, the breakfix is not something an office worker can attempt and they do not have internet connectivty.
How does IT remedy something that has no connectivity or patch devices that won't boot up or apply a breakfix that requires physical intervention one-device-at-a-time? While the latter seems to be the only way out, its not viable when we are talking about thousands upon thousands of users per organisation, in and out of the city.
The amount of liabilities and consequential losses organisations have to face as a result of their initial trust in Crowdstrike are immeasurable. The whole world will hold each other accountable, think public services, banks, healthcare, aviation, supply chain and managed service providers. All of the above will point back to Crowdstrike.
At this point, i won't be suprised if they start a global boycott once all the fire fighting has been done as the organisations have effectively paid top dollar to get hit by something worse than a ransomeware by the very company that vowed to protect them.
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Investor Randy : Well said
Investor Randy : Need time to assess the impact, not so fast. Things are not done yet
Ken Griffin Charity : Individual intervention is not the only fix. The crowdstrike update contains a tiny patch that can be updated within a small timeframe upon boot. And the likelihood of this update taking place increases with a wired network connection. Many organisations are reporting most of their systems up and running.
Avengers 2023 : Though boot up the Windows computer in the recovery mode, even they have patch to fix this issue will still need to manually delete the *sys file 1st before apply the patch. The damage already done can't be undone. This is going to be nightmare for IT folks just like Y2K issue.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Juan Frank : it has been a nightmare... and add the extra layer of BitLocker and that not many low access tech don't have access to MBAM ... and to the remote users who are not tech savvy...
they are trying to keep the stock above 300 . but in reality, give it 2 weeks to a month, once the real $ impact has been quantified by the affected companies and requested for crowd strike to take ownership of what they caused and be paid for the restoration of service plus the loss of revenue... that is going to really tank the stock.
first rule of implementation, never release a patch without proper QA, pilot and wave deployment.
but what's worse, the company not even apologizing for their screwup.
Money Thrill Ken Griffin Charity : Indeed, the problems are almost solved ?