Our partner Shardul Shah explores what it takes to build a security startup and why businesses need to embrace their responsibility in delivering safe, trustworthy and secure services.
The environment for creating security startups is more vibrant than ever. For criminals, the economics of cybercrime have never been better. Criminals share techniques to create attacks faster, rent cheap infrastructure to launch attacks at a lower cost, target larger swamps of data to find larger bounties, and monetize their prey more effectively in the darkweb. Ransomware, account takeovers and the rest generate an estimated $1.5 trillion for criminals every year, according to research presented at RSA last year - and these attacks could be costing businesses $5.2 trillion in lost revenue over the next five year according to Accenture.