Stocks Finish the Week Higher

Catch Up Quick

• Trump demoted campaign manager Brad Parscale

• EU court restricts personal data transfers to U.S.

• The CDC banned U.S. cruises through September

• Nancy Pelosi said developing a coronavirus relief bill will cost at least $1.3T

• Netflix reported weaker than expected earnings

• The Pentagon officially banned Confederate flags from U.S. military institutions

• Texas ordered extra body bags and mortuary trucks

My Friday Opinions

• U.S. hospitals ceased direct reporting of capacity, staffing, and related data to the CDC and instead is now sending information directly to the U.S. Department of Health and Human Services—this is yet another example of the virus being politicized, which has been a crucial component in leading the U.S to have one of the worst global responses to the health crisis

• This past Wednesday, a social engineering attack granted hackers access to the accounts of Joe Biden, Elon Musk, and Bill Gates, among others, to push a bitcoin scam— this was a huge surprise, especially within the worlds of politics and tech, as high profile users realize their online platforms are not entirely safe from malicious activity

Thought of the Day

• In light of recent Twitter security breaches, the need for cyber security is higher than ever

• From a top down perspective, cybersecurity is a unique realm in that the possibility of industry obsoletion is very close to 0%

• And by this, you can think about other sectors and potential disruptors: Oil & Gas (efficient electric batteries, fuel cells), Health Insurance (centralized universal healthcare), and Commercial Real Estate & Transportation (work from home) to name a few

• Note: these “disruptors” are not intra-industry innovations (such as cloud computing for software deployment), but instead holistic sector-wide threats

The Bottom Lines

• With respect to cybersecurity, I can confidently say that nothing will ever pose a threat to the realm as a whole

• As technology continues to eat the world, the demand for cybersecurity will keep growing— now perhaps in the consumer segment (i.e. social media) as well

— Enjoy Your Weekend! —