YouSaid · the spoken record

Amit Yoran

lines on the record: 14
first: 2025-04-29
most recent: 2025-04-29
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Around what I call human security or how you protect humans and what humans do rather than servers or things that sit in the cloud. So that's really interesting. And then everything around Gen AI, look, it's really immature in cybersecurity right now because if you think about what security protects, we don't really know what Gen AI will mean for enterprises five or ten years from now. And I think we'll need to know really what it looks like before cybersecurity becomes real. You kind of need to know what you have to protect. before you start protecting it. But the same way that Geni is a bit risk, Gen AI will be great to fight those new risks that are created by the same technology.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I probably would highlight two things. The first one is gen AI, because when you think about Gen AI, it's really more from the attacker's perspective. You don't need to know how to write code to launch an attack anymore. And so that's a really big risk. And then if you take that one step forward, true AI, meaning if you have a self-aware bot that's in a system that knows when to detonate or not detonate if you're in a sandbox, that's actually really scary. And frankly, that's the world that we're heading into. So I think that's issue number one. Issue number two frankly is years of fatigue. And you and I are going through many cybersecurity trainings. We know what we should click on, should not click on, but the idea of user fatigue in a world where there's so much data that comes our way, it's really tricky sometimes to not click on something if you think it's really real. So I think those are the two big issues for companies now. And so when you think about some of the solutions, there's a lot of really amazing things being done right now.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“You actually have to make sure that whatever you build is protected. When you think about a bunch of unmanned devices that talk to each other that go and target very far away, those things need to protect it. You can't have that, you know, you don't want a missile to be hacked. And so embedding cybersecurity in those things is really important. But then there's also some really interesting themes about how you use cybersecurity in a bigger way to go against who you're targeting. And that's always been what the government has been doing. There's obviously new tools that are available now. I don't think that really impacts the enterprise business and the market value of cybersecurity, but I think it's really critical for national security.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, that's a truly fascinating area because when you look at all of the innovation in cybersecurity, it's been mostly B2B. And so it's been really mostly an enterprise and commercial aspect. When you look at CrowdStrike, Palo Alto, all those companies are really protecting enterprises. But when you look at where innovation in cybersecurity is coming from, like a big market for cybersecurity is Israel. And one of the things that Israel has done amazingly well is essentially using the experience of a bunch of people that went to the army and that went to a unit where they were essentially fighting against cyber criminals. And then they use that experience to create company startups like Wiz that just became amazing at what they do and amazing at protecting enterprises. And so I think what we're seeing in that new wave of defense tech and companies, both in the US but also frankly in Europe that are finding new ways of supplying the defense governments, cybersecurity is critical in that because one”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Are up. We all know personally. Hopefully, you don't click on that. Look, that's one of the reasons why it's fascinating to, I'm really lucky to have my job because when you think about what's going on in cybersecurity, innovation just cannot stop because”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“But there's a lot of other techniques. I mean, when you look at all of those phishing links and everything, someone telling you that you haven't paid something and asking you to click on link, that's not coming from a nation state, that's just someone trying to scam you.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, it looks sadly more conflicts, more geopolitical issues typically mean more attacks. And so the more tensions you have in the system, the more that will translate in more attacks. And, you know, what's interesting is those attacks are not necessarily from nation states. You also have people that are just literally trying to earn a living by being cyber criminals. And so that trend, unfortunately, I think will just continue, which makes cybersecurity even more relevant than in cyberbine.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“When you look at the typical targets of cybersecurity, by targets, I mean, from a customer perspective for the cybersecurity companies, governments across the world have always been a very important customer base. And they're not only an important customer, but for a lot of the cybersecurity companies, they're actually a partner because you need to partner with the government to find out what the bad guys are doing. And that's really the way you protect not just companies, but also national security. And so the long-term relationship between cybersecurity and the government is going to continue. I have a few examples of some of our clients who have really great customers that are going to remain customers for years, but there's no budget right now. And no one really knows where the budget is. So I think it goes back to the theme of having temporary uncertainty that's weighing on near-term growth. But I don't think any of that, at least for cybersecurity, will really impact the long-term relationship with the government as a customer.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“As of April 2025, from talking to a lot of my clients, I don't think the impact is widespread at least yet. And I think there's a couple of reasons for that. The first one is, frankly, if you look at what happened in 2022, 2023, when we already had a recession, cybersecurity actually fared better than other industries and even other software of articles. And the reason for that is if you think about it, the reality of the cybersecurity spend is you're spending to protect yourself. And if you decide to not spend into something and suddenly you have a breach, that's a really bad day for you as an employee of any type of company. And so it tends to be a lot more sticky than other categories. I think that will continue in the nuclei that we're in. It will be harder to go into new markets, to go into new products just because of it's going to be a lot harder for your customers to decide to spend more with you. But I do think they'll keep the spend that they have with you.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“It's a good question. It is a moment in time where I would say normal market conditions. The IPO pipeline for security looks really good. We have a number of really high quality companies that have really great characteristics around durable growth, really disrupting their markets that we think public investors will love at the right time. But look, we live in an uncertain period. And I were talking about this earlier. I think it's going to be the next few quarters, it's harder to predict your own business, right? I think it's harder to figure out what will work and not work with public investors. And a lot of the companies that were planning to go public in the next few quarters are maybe putting a bit of a pose on and seeing, well, what's happening in the macro? What's happening to the economy? How does that translate to my business? And therefore, when is the right time to go public? Now I'll tell you, when the IPO market is not working, the M&A market is working very well. And so I think it will be interesting to see in the next three quarters what happens and how long this uncertainty”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Look, the pipeline is as high as it's ever been. Again, when you look at dry powder from private equity firms, it's as high as it's ever been. And so they need to deploy that capital. They also own a lot of assets today that will need to find a home, be that in the public markets or through M&A, in the next few quarters and years. And when I look at the large environment we were talking about earlier, I think there's a ton more to do. I think there's a ton more to do to keep being relevant to customers. And so the pipeline just keeps on growing.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Where we have seen a lot of financial sponsors and private equity activity. And that's really a cycle that I expect will keep on going given how critical, sticky, and irrelevant the industry is, and that will just fuel more M&A going forward.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I would say when you look at the activity in MA in cybersecurity, you kind of have to follow innovation. And so where we've seen a lot of activity in the last few years and in the last few months is everything on cloud security. You were talking about the WIS transaction. I would say everything on security operations. So security operations meaning how you help companies actually deal with security issues and remedy them. That's been a really important theme. Lots of M&A that we've already seen, a lot more that I expect to come. And another big thing has been AI. Obviously, as you may expect, AI is transforming everything in tech and software. And so it's also transforming security. It's interesting there's a couple of themes there. The first one is how you can use AI for better security outcomes, but then also how security needs to adapt to secure AI. That's a very new theme, but I do expect you'll see a lot of M&A coming out of that. And the other topic I would highlight there is cybersecurity is an industry.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT
“You know, it's a good question. I would say the reality is security is just really important. And because it's really important, it's really important to a lot of potential buyers. And so when I look at what's been going on in the last few years, the universe of buyers that we have in cybersecurity has really expanded. Last year, for example, we also advised MasterCard on the acquisition of Recorded Future, which was a threat intelligence company. And so when I think that's going on, it's really, I would say, two or three main factors. The first one is it's just a much more dangerous world. When you think about the number of cyber attacks, there's just more and more of them and it just keeps on coming. And so that means we need better security. I think the second thing is cybersecurity is really viewed as a competitive advantage now. And so if you're Googled, if you're Microsoft, if you're those big tech companies being viewed as focus on security is really critical to keep winning in your core markets. And the third thing which I would say, which we have seen in cybersecurity, is the idea of platformization, meaning having one vendor that does a lot more of things.”
2025-04-29 · Goldman Sachs Exchanges · How AI and geopolitics are reshaping cybersecurity · IDENTIFIED FROM THE TRANSCRIPT