The Benefits of Investing in Cyber Security

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Sept. 6 (Bloomberg) -- GGV Capital Partner Glenn Solomon discusses cyber security with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Gains were also revised down.

From government officials to hackers like the syrian electronic arm y, cyber spies are posing a bigger threat than ever before.

Government and personal data as well.

Who is backing begun pinnie trying to stop these attacks?

One of the vc firms turning to cybersecurity investments, gdb just insight said $2.5 billion in alienvault, a company that focuses on managing security risks by depending on open source intelligence.

Glenn solomon is here in today's avenger viewpoint.

Open source cloud security.

What does that mean you?

Alienvault has both open source and commercials.

They have thousands of users and their product.

Spotting and identifying threats and vulnerabilities in the market.

If you become a customer of alienvault, you get the benefit of the eyes and ears of those thousands, so the new thread emerges, everybody knows about it right away.

That is key to preventing attacks.

It doesn't just depend on other customers reporting breaches?

The way the product works as all that information is collected centrally, and the intelligence is then dispersed back out to the users.

How is this better than traditional firewall security or what's most companies have in place.

Cyber crimes have really changed, so gone are the days when it was the smart kid down the street looking to wreak some havoc or even a disgruntled employee as much as it is state- sponsored efforts, organized crime getting involved, and then make sense because the stakes are getting higher and higher.

We are reading reports that hundreds of billions of dollars are being lost each year to this.

So these sophisticated hacks and hackers that are attacking networks today are easily circumventing the antivirus and firewall security measures of the past.

It takes new companies like alienvault to get involved to really help tech companies in today's world.

It is interesting covering this story in light of the nsa security breaches.

There is this question that i think a lot of users have, which is how safe is my data with any company?

How does alienvault manage its relationship with the government?

Well, it is a fair question.

If you are a consumer, and we have talked before about what a great time it is to be a consumer of technology with mobile, cloud, virtualization, you have the opportunity for you have never had before.

The bottom line is all those technologies create increased network complexities, and all kinds of networks, that creates more surface for the bad guys to attack.

So it is fair to assume that your data, if it is online, is potentially longer ball, no matter who or where it is stored.

How does a company like alienvault deal with that?

Of their customers are companies of all sizes are recognizing the importance of securing personal data from the customers, i.t. that they may have, etc.

One of the reasons we are so excited to invest in a company like alienvault, and i think you will see more investments from the sea's into security, is that the stakes as i mentioned are getting higher and higher, and companies are all sizes are recognizing that they need to invest again.

The old investments and firewalls are not enough.

Newer technologies are needed to really prevent and protect those assets or else the risks are really high.

A huge part of your portfolio is in china.

A lot of cyber spies allegedly are in china as well.

How do you manage that and how do you manage a relationship with the government?

Is the government happy about you investing in chinese mobile browser companies and other chinese of data storage companies and things like that?

How do you get beyond the red tape?

One of the reasons alienvault chose ggv is we are global, as you mentioned, and we have a strong presence in china.

It is not just companies in the u.s. that are facing concerns about protecting their data.

State-sponsored hacking is going on all over the world.

With today's news about what the nsa is up to, it is yet further proof that it is not just to china or china entities that are involved in this kind of activity.

This is eastern european, really governments all over the world are sponsoring this kind of activity.

Company van china just like companies in the u.s. care a lot about trying to protect their data.

Alienvault is looking to for us to help them expand in asia.

How does it compare to excel or kleiner perkins?

We have a unique model and that we have one fund with partners in china and the u.s. all investing out of the same find and trying to help companies.

It is really important in today's market because the chinese economy and u.s. economy are the two largest in the world and are increasingly intertwined.

When you see companies like

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change