Episode 27

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Published on:

16th Aug 2023

The Effects On Cybersecurity & Infosec of Economic Downturns

Welcome to this episode of the Razorwire podcast, where my guest, renowned cyber security expert Oliver Rochford, and I explore the impact of economic downturns on the cybersecurity industry and how it affects professionals in the field.

We discuss the current economic climate and the challenges it poses for the industry, with inflation on the rise and smaller banks struggling to keep up. We also examine the effects of previous economic downturns and how they impacted the industry, along with what we should have learned from them.

We also discuss the trend of vendor consolidation in the industry, the shortage of cyber security professionals, and the emergence of financial operations, and how to turn these to your advantage.

We also touch on the impact of COVID-19 on the industry and the importance of adapting to changing economic conditions.

So, if you're a cybersecurity professional looking to stay ahead of the game, this episode is a must-listen.

"We've had a long period of really cheap money. We've had really high exits, and that money needs to seek a return. If you've just made a hundred million dollars and you put it in the bank, you're basically going to get eaten up by inflation. So you need to invest it into something, right?"

Oliver Rochford  

 

 

Listen to this episode on your favourite podcasting platform: https://razorwire.captivate.fm/listen 

 

In this episode, we covered the following topics:

  • The impact of economic downturns on the cybersecurity industry 

 

  • The effects of a downturn in spending on cloud-related security: why many organisations are looking to reduce cloud and SaaS licencing spend 
  • What we should have learned from past economic crises, including the dot-com bubble and the 2007-2008 credit crunch 

 

  • Why organisations are consolidating vendors in this economic downturn 

 

  • The financial challenges faced by mid-size companies looking for cybersecurity solutions  

 

  • The shortage of experienced infosec professionals and the impact of the great recession on the industry during economic turmoil

 

  • The opportunities that technological advancements offer to refocus your career and why you need to get ahead of the curve

 

  • Seizing the opportunity to start your own company

 

  • The benefits of standardisation in the industry and the shift towards more sustainable business models

 

  • Advice on efficient budget allocation in a time where budgets are being squeezed, including consolidation and being smarter with technology

 

  • How to overcome the challenges of complying with security standards on a smaller budget

 

  • Embracing automation in cybersecurity

 

 

GUEST BIOS 

 

Oliver Rochford 

Oliver has worked in cyber security as a penetration tester, consultant, researcher, and industry analyst for over 20 years. Interviewed, cited, and quoted by media, think tanks, and academia, he has written for SecurityWeek, CSO Online, and Dark Reading. While working at Gartner, he co-named the Security Orchestration, Automation, and Response (SOAR) market, worked on the SIEM Magic Quadrant, and also covered the European MSSP Market. In past lives, Oliver worked for Qualys, Verizon, Gartner,  Tenable, and Securonix and is currently Chief Strategist at Tenzir, where he works on product strategy and marketing.

 

Other episodes you'll enjoy 

 

Navigating the Turbulent Waters of Cybersecurity: Nationalism, Economics And AI 

https://www.razorthorn.com/navigating-the-turbulent-waters-of-cybersecurity-nationalism-economics-and-ai/ 

 

Trust and Culture as Cornerstones of Cyber Security with Paul Dwyer 

https://www.razorthorn.com/trust-culture-as-cornerstones-of-cyber-security-with-paul-dwyer/ 

 

Connect with your host James Rees 

 

Hello, I am James Rees, the host of the Razorwire podcast. This podcast brings you insights from leading cyber security professionals who dedicate their careers to making a hacker’s life that much more difficult.

Our guests bring experience and expertise from a range of disciplines and at different career stages. We give you various viewpoints for improving your cyber security, from seasoned professionals with years of experience, triumphs, and lessons learned under their belt to those in relatively early stages of their careers offering fresh eyes and new insights.

With new episodes every other Wednesday, Razorwire is a podcast for cyber security enthusiasts and professionals, providing insights, news, and fresh ideas on protecting your organisation from hackers.

For more information about us or if you have any questions you would like us to discuss, email podcast@razorthorn.com.

If you need consultation, visit www.razorthorn.com. We give our clients a personalised, integrated approach to information security, driven by our belief in quality and discretion.

 

LinkedIn: Razorthorn Security 

YouTube: Razorthorn Security 

Twitter:  @RazorThornLTD 

Website: www.razorthorn.com 

 

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About the Podcast

Razorwire Cyber Security
The Podcast For Cyber Security Professionals
Welcome to the Razorwire podcast where we share information, best practices and up to date news in cyber security and infosec.

Our mission is to help you become a better cyber security professional and support our vision of creating an agile community of cyber professionals who are stronger than ever before.

This show is first and foremost about sharing knowledge and benefiting from collaboration. We bring you the advice and wisdom of both your host, James Rees, and his guests to build on the strength and depth of your own knowledge and experience.

Your host James Rees is an information security veteran with over 25 years of industry experience and is the founder of Razorthorn Security, delivering expert security consultancy and testing services on a day to day basis to some of the largest and most influential organisations in the world, including many in the Fortune 500.

The Razorwire podcast is for cyber security professionals looking for new ideas and the drive to improve their response to cyber security events. Through collaboration, we can strengthen our defences.

For more information about us or if you have any questions you would like us to discuss on the podcast email podcast@razorthorn.com or head to www.razorthorn.com

About your host

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Matt Cheney

Matt is a podcast & content creation coach with over 17 years of professional experience. He has delivered content for global media platforms, brands, broadcasters, and apps, producing EMMY award-winning music features, BAFTA nominated animations, and iTunes chart-topping podcasts, among other projects. He has edited & mixed over 650 hrs of TV, recorded 10,000 hrs of narration and podcasts, and produced 10,000's of media assets for brands such as BBC, SKY, Nike, O2, Audi, RCA, Amazon, Google.
As the former Head of Audio for Vice Media UK and Rapid Pictures Post Production in London, Matt is well-versed in media and technology, as well as in leading and training creative teams.