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The Everything Feed - All Packet Pushers Pods
NB489: Shareholders Sue CrowdStrike; Intel to Fire 15,000 Employees
Aug 5, 2024
A class action lawsuit against CrowdStrike raises questions about cybersecurity and tech regulations. Delta Airlines faces fallout from a Microsoft Azure outage, sparking discussions on tech liability. Meanwhile, major layoffs at Intel reflect shifts in the chip industry amid government funding challenges. A new partnership between Intel and Extreme Networks highlights the role of AI in optimizing network management. Financial analyses reveal mixed results for major tech players, with skepticism towards AI impacting Microsoft's strategic direction.
31:10
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Quick takeaways
- The proposed class action lawsuit against CrowdStrike underscores growing investor scrutiny over the reliability and validation of cybersecurity software updates.
- Intel's layoffs of 15,000 employees amid government support raise ethical questions about corporate responsibility in the context of taxpayer-funded initiatives.
Deep dives
CrowdStrike's Shareholder Lawsuit
Shareholders of CrowdStrike are pursuing a class action lawsuit after a problematic software update severely disrupted Windows machines worldwide. The lawsuit, filed by a Texas pension fund, claims CrowdStrike misled investors regarding the reliability of its software, particularly the Falcon platform, which CEO George Kurtz asserted was 'validated, tested, and certified.' Following the incident, CrowdStrike's shares plunged by 32%, significantly impacting its market value. The lawsuit highlights growing scrutiny over cybersecurity practices, questioning what constitutes adequate testing and validation in software updates.
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