Crowdstrike : The Unplanned Global “Day Off”. - (Fix in OP) (1 Viewer)

[Runkle]

Crowdstrike CEO, George Kurz, now on CNBC. "It only affected Microsoft Windows devices."

Man I've screwed up a few times at work, but never so bad that the CEO of my company had to go on TV to assure people that it wasn't a terrorist attack

 

[jhib]

Supposed to fly to Austin today

Family wedding in Colorado Saturday. Luckily flew out yesterday with the wife and kids, but a bunch of family and friends dealing with cancelled flights all day long today into tonight

 

[Pip's Invitation]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

 

[Leroy Hoard]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

When I first heard the name Crowdstrike I assumed by it's name it was some "dark web" terrorist, I had no idea what their actual purpose was. It reminds me of the unfortunately named weight loss drug Ayds that came out well before aids itself did.

 

[Eephus]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

 

[TennesseeJed]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

The difference is - the public would stop flying Value Jet, but the public is not really supporting Crowdstrike. The average user has no idea they had Crowdstrike software on their corporate computer - or even what it does.

I don't think this is remotely similar to ValueJet.

(and ValueJet continued to exist as AirTran for 18 years post-crash...)

 

[JB Breakfast Club]

Still feeling the effects...supposed to fly MSP to Seattle at noon. Delayed 4 times and then canceled because they cannot locate the crew required for the flight. People are rolling with at as best they can...

 

[FreeBaGeL]

Crowdstrike CEO, George Kurz, now on CNBC. "It only affected Microsoft Windows devices."

Man I've screwed up a few times at work, but never so bad that the CEO of my company had to go on TV to assure people that it wasn't a terrorist attack

Most of us have probably screwed up this badly. Most of us just aren't important enough that it affects many people in a memorable way when we screw up.

 

[DA RAIDERS]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

When I first heard the name Crowdstrike I assumed by it's name it was some "dark web" terrorist, I had no idea what their actual purpose was. It reminds me of the unfortunately named weight loss drug Ayds that came out well before aids itself did.

Same. I thought it was the perpetrator.

 

[belljr]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

When I first heard the name Crowdstrike I assumed by it's name it was some "dark web" terrorist, I had no idea what their actual purpose was. It reminds me of the unfortunately named weight loss drug Ayds that came out well before aids itself did.

Same. I thought it was the perpetrator.

Well..... technically they were

 

[IvanKaramazov]

Crowdstrike CEO, George Kurz, now on CNBC. "It only affected Microsoft Windows devices."

Man I've screwed up a few times at work, but never so bad that the CEO of my company had to go on TV to assure people that it wasn't a terrorist attack

Most of us have probably screwed up this badly. Most of us just aren't important enough that it affects many people in a memorable way when we screw up.

I haven't, and I'm getting tired of pretending that this is normal. It isn't.

 

[eoMMan]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

When I first heard the name Crowdstrike I assumed by it's name it was some "dark web" terrorist, I had no idea what their actual purpose was. It reminds me of the unfortunately named weight loss drug Ayds that came out well before aids itself did.

Yeah, I don't think I knew the name Crowdstrike before a couple days ago. If I heard it, I probably just thought it was the name of a video game that the kids are playing these days.

 

[3C's]

Yeah, I don't think I knew the name Crowdstrike before a couple days ago.

Typically a good thing in their field; kind of like a referee whose name you only know because of a blown call.

They don't cater to individual users like say McAfee since the min license is 5 computers (IIRC) and it's not cheap. A majority of Fortune 500 use it though.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

 

[Tin Cup]

Couldn’t place an order on the Papa John’s app yesterday and had to call the store. They blamed on the Crowdstrike thing and said the app had been having issues since Friday.

 

[guru_007]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

 

[Joe Bryant]

How much is back up and running now?

Hearing lots of airport trouble still yesterday.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

 

[Alex P Keaton]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

 

[3C's]

What typically happens in this is RCA calls, lots of bitching and complaining, some mea culpas, and everyone moves on. They'll probably get some free services for some time.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

I would disagree, the impact wasn't global outages. It was a global mad scramble to figure out first, your level of exposure and then how to mitigate the attack vectors that the hack opened.

 

[Alex P Keaton]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

 

[Alex P Keaton]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

Big companies should have been able to figure this out quickly. My company was fully operational within about 6 hours.

 

[Osaurus]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

Big companies should have been able to figure this out quickly. My company was fully operational within about 6 hours.

We had a couple of Azure sites down and they were up within a couple of hours. US data centers handled it well for the most part imo.

 

[Runkle]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Didn't something similar happen to McAfee 15 years ago? Then they lost half of their value and were bought out by someone else?

And the current Crowdstrike CEO was the CTO at McAfee at the time?

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

Big companies should have been able to figure this out quickly. My company was fully operational within about 6 hours.

It's significantly harder to do when you have 40k VMs that you have to touch manually and 100k plus endpoints that need to be manually touched to be fixed. It seems that you don't have significant enterprise experience.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

Big companies should have been able to figure this out quickly. My company was fully operational within about 6 hours.

We had a couple of Azure sites down and they were up within a couple of hours. US data centers handled it well for the most part imo.

Different outage. There was an Azure blob network issue that hit the central region where Azure VMs lost communication with the blob storage causing outages.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Didn't something similar happen to McAfee 15 years ago? Then they lost half of their value and were bought out by someone else?

And the current Crowdstrike CEO was the CTO at McAfee at the time?

Yep, same guy and similar but less impactful as automation in 2010 wasn't where it's at today, and McAfee wasn't as prominent as CS is.

 

[Eephus]

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

Getting suppliers to agree to liquidated damages was always one of the toughest things in contract negotiations with software vendors

 

[Alex P Keaton]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

Big companies should have been able to figure this out quickly. My company was fully operational within about 6 hours.

It's significantly harder to do when you have 40k VMs that you have to touch manually and 100k plus endpoints that need to be manually touched to be fixed. It seems that you don't have significant enterprise experience.

I never claimed to.

 

[Hawks64]

Most people had not heard of ValuJet when one of their planes crashed. Their name became synonymous with crash and they shortly ceased to exist.

Crowdstrike’s name is now synonymous with … whatever the heck that was yesterday. It their name now as toxic as ValuJet’s? There is much less competition in this space, so they might not be as likely to disappear, but you’ve gotta think a name change or absorption into another company is a real possibility.

Solarwinds is probably a better comparison than a long defunct budget airline. The Solarwinds hack in 2021 had similar impact to yesterday's Crowdstrike incident. Solarwinds has survived but its market cap is less than half of what it was before the hack.

Crowdstrike is a much bigger company in a larger market than Solarwinds. Market cap isn't a perfect metric but by that standard, Crowdstrike's is higher than United, Delta, American and Southwest Airlines combined.

And when 50% of the Fortune 500 sue them for lost revenue and operational costs they will have serious problems. Global mfg unable to make their products, costing them close to 1M an hour....that's going to court for sure. The airlines, most definitely will be litigating to mitigate costs.

Do you all seriously think Crowdstrike is going to be sued into bankruptcy? I saw someone mention it in the stock thread as well. I’m not a lawyer, nor have any dog in this fight but I’m at least 93% certain that every company that uses them signs a terms and conditions agreement that protects crowdstrike against any liability here.
More likely result is government fine and/or heavily discounted licenses for those affected as a show of good faith. Nfw are lawsuits going to work they would be tied up in legal system for years and years.

Have you worked for a software company and negotiated with the Fortune 500? I have and they negotiate custom license agreements, there is no accepting standard EULAs. In those custom agreements, there are all sorts of protections from defects and outages caused by defects and remedies that are monetary in nature.

CrowdStrike terms limits damages to refund in most cases

CrowdStrike and cybersecurity insurers can expect years of lawsuits after a botched update sparked a devastating outage.

www.businessinsider.com

Again, that's their standard EULA. Fortune 500 companies do not use standard EULAs. They require custom software license agreements, see above.

I get that. But I’m not sure why anyone is anchored on just Fortune 500 companies.

Because that is where the big lawsuits will come from. Companies that are paying 100K+ employees to do nothing, with no ability to generate revenue. Those that can't make their products because of it. Companies whose stock price will take a hit when they miss their earnings targets because of the outage.

Big companies should have been able to figure this out quickly. My company was fully operational within about 6 hours.

It's significantly harder to do when you have 40k VMs that you have to touch manually and 100k plus endpoints that need to be manually touched to be fixed. It seems that you don't have significant enterprise experience.

I never claimed to.

Then how can you comment on how big companies should be able to figure it out? It's a scale you don't have experience with, so tossing out an uninformed opinion is pointless IMO.

 

[Joe Bryant]

and then how to mitigate the attack vectors that the hack opened.

It was a hack? I thought it was a failure on the update?

 

[Hawks64]

and then how to mitigate the attack vectors that the hack opened.

It was a hack? I thought it was a failure on the update?

You missed the quoted part, that comment was about the Solarwinds hack.

The Crowdstrike issue was a bad update that they pushed out whice caused the outage.

 

[Joe Bryant]

You missed the quoted part, that comment was about the Solarwinds hack.

Sorry, I just read your post:

I would disagree, the impact wasn't global outages. It was a global mad scramble to figure out first, your level of exposure and then how to mitigate the attack vectors that the hack opened.

I didn't read the post prior that talked about Solarwinds.

It's an interesting situation.

 

[Joe Bryant]

And @Hawks64 please be a lot more cool than the laughing emoji replies that were deleted. We're all just discussing this. Can do without the tool stuff.

 

[3C's]

Barely a blip on our side (Fortune 100 company) except some individual windows users but I'm visiting a customer site and their security systems are down so they're not letting me in. Yet

But they will...

 

[the moops]

I had never heard of Crowdstrike until this happened. Am I the only one?

 

[Ted Lange as your Bartender]

I had never heard of Crowdstrike until this happened. Am I the only one?

It’s been a fantastic stock to own the last 18 months - up 3x from the beginning of 2023 and just got added to the S&P 500 a few weeks ago. This might slow that down for a bit.

 

[Sullie]

Security comes in layers, this is one of the layers companies use but like a lot of IT folks my Friday at work was messy. Anyway, Dave Plummer is a former developer who worked at Microsoft, specifically Dave worked on the Windows O/S in the early days. I cannot recommend Dave's YouTube channel enough if you're an IT geek like I am. But, anyway, Dave did a very informative and gloriously geeky video explaining exactly what happened. It's about 13 minutes long, it's pretty technical but I think he does an awesome job explaining it if you're interested.

 

[Joe Bryant]

Security comes in layers, this is one of the layers companies use but like a lot of IT folks my Friday at work was messy. Anyway, Dave Plummer is a former developer who worked at Microsoft, specifically Dave worked on the Windows O/S in the early days. I cannot recommend Dave's YouTube channel enough if you're an IT geek like I am. But, anyway, Dave did a very informative and gloriously geeky video explaining exactly what happened. It's about 13 minutes long, it's pretty technical but I think he does an awesome job explaining it if you're interested.

Great. Thanks for the insights.

 

[Joe Bryant]

How are things going for people, especially airlines?

No idea if accurate but this guy claiming this morning he's still stranded on Atlanta. https://x.com/MultifamilyMad/status/1815398499803976072

 

[Alex P Keaton]

How are things going for people, especially airlines?

No idea if accurate but this guy claiming this morning he's still stranded on Atlanta. https://x.com/MultifamilyMad/status/1815398499803976072

Looks like it is largely a Delta problem. Which makes sense if that guy is in Atlanta.

https://www.cnn.com/2024/07/22/business/delta-canceled-flights-computer-problems/index.html

Fortunately am not flying this week (for once) but a bunch of my colleagues flew to NY today. Some minor delays but everyone made it in.

 

[Gr00vus]

CrowdStrike pushed an update a couple of months ago that borked Debian and Rocky Linux installs too, because they didn't bother to test on those distros.

They should get sued out of business. It's time software companies were held accountable for delivering correct software.

 

[beer 30]

No idea if accurate but this guy claiming this morning he's still stranded on Atlanta. https://x.com/MultifamilyMad/status/1815398499803976072

I've seen multiple updates on X about what a mess Atlanta is right now. Pretty sure it's legit. On a good day ATL can be a struggle, with this thing going on it's got to be a nightmare.

Some friends of ours flying back from Canada yesterday, got stuck in Newark. First the flight was delayed then cancelled. Airline said there wasn't another one until tomorrow so there are still ripples in the pond from this thing.

 

[the moops]

No idea if accurate but this guy claiming this morning he's still stranded on Atlanta. https://x.com/MultifamilyMad/status/1815398499803976072

I've seen multiple updates on X about what a mess Atlanta is right now. Pretty sure it's legit. On a good day ATL can be a struggle, with this thing going on it's got to be a nightmare.

Some friends of ours flying back from Canada yesterday, got stuck in Newark. First the flight was delayed then cancelled. Airline said there wasn't another one until tomorrow so there are still ripples in the pond from this thing.

Yea Atlanta a giant pile of mess

x.com

x.com

 

[Joe Bryant]

No idea if accurate but this guy claiming this morning he's still stranded on Atlanta. https://x.com/MultifamilyMad/status/1815398499803976072

I've seen multiple updates on X about what a mess Atlanta is right now. Pretty sure it's legit. On a good day ATL can be a struggle, with this thing going on it's got to be a nightmare.

Some friends of ours flying back from Canada yesterday, got stuck in Newark. First the flight was delayed then cancelled. Airline said there wasn't another one until tomorrow so there are still ripples in the pond from this thing.

Yea Atlanta a giant pile of mess

x.com

x.com

Yikes. That's awful.

 

[Osaurus]

Nothing like pushing out untested updates. Brilliant!

 

[top dog]

Flew from Charleston, SC to Cleveland, OH on Saturday. There were 2 giant lines at check in. One was Delta who everyone in line was just SCREWED. Pretty much everything Delta was delayed or cancelled. The other line was Frontier. We were in that line. Once it started moving it was fine. The only reason Frontier had a massive line is they didn't have a rep show up until 2 hours before the first flight out at 2:30 pm. Everyone for their flights the rest of the day seemed to have shown up and been in line. It did take some time to take off as the push crew was nowhere to be found and took some time when we landed in Cleveland as the crew to bring you to the gate was nowhere to be found but I was VERY happy to make it home.