Tech Brew Ride Home Wed. 07/27 – Inflation Hits The Metaverse
Jul 27, 2022
Major earnings from tech giants like Microsoft and Alphabet reveal shifting market dynamics. Costly data breaches are becoming increasingly burdensome for companies, highlighting cybersecurity risks. A sophisticated UEFI rootkit raises alarms about long-standing threats from hacking groups. Meanwhile, legislative efforts to keep Big Tech in check are losing momentum. In the Metaverse, Meta raises the price of Quest 2 headsets, marking inflation's reach into virtual reality. Plus, Google Maps gets exciting updates for better navigation and sharing.
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Data Breach Costs
- Data breaches cost businesses a record high of $4.35 million on average, a 13% increase in two years.
- This cost gets passed on to consumers as increased prices for goods and services.
UEFI Rootkit
- A UEFI rootkit, Cosmic Strand, has been infecting PCs since 2016, surviving OS reinstalls and hard drive replacements.
- It compromises the UEFI, the first software to run on bootup, giving hackers deep access.
Big Tech Crackdown Stalled
- Despite expectations, the Biden administration hasn't significantly cracked down on big tech in almost two years.
- Senate Majority Leader Chuck Schumer revealed the AICO Act, designed to limit big tech's power, lacks the votes to pass.