Buffett and Twitter – Macro to Micro
Berkshire Hathaway’s annual meeting was just held in Omaha, Nebraska where people from all over the world came to hear Warren Buffett and Charlie Munger give their views on their results and the risks they see in the world today.
It’s hard not to be enamored with the scale of Berkshire’s success and the continued humility shown by their leadership. Mr Buffett rang a very real alarm bell this year on cyber, clearly stating that even the insurance community doesn’t really have a handle on it.
As a leader, Warren Buffett spoke honest truth to growing fear, echoing our core belief to “Find Trouble Before Trouble Finds You”.
At SKOUT we’ve spent a lot of time looking at this over the years as our business originally grew out of a risk management company. We agree with Warren, but at the same time we hold out hope that this time perhaps we’re both wrong.
Last week we also saw Twitter reach out to their entire user base to change their passwords on every account. Now the time span between the macro trends that Buffett sees and micro incidents like Twitter are happening closer and closer together.
Remember, with such a shortage of qualified talent and increasingly constrained budgets, middle market companies are the ones who are most affected. If Berkshire Hathaway suffers a cyber-loss, they have the massive balance sheet to help them recover and even stay profitable while absorbing it. The middle market companies we deal with every day don’t have either of those two luxuries, yet have to deal with the same problems.
We want to help and support those businesses, to be proactive versus reactive.
If you agree with us, and need support, let us help you with our SKOUT Cybersecurity.
Find Trouble Before Trouble Finds You.