I received this in an email this morning.
Now this is just the USA they are talking, little own the cost and damage they are currently doing in our own Country as we are aware.
look at the last paragraph about a Big unit Cisco buying us small ones or are we too far gone?
A Growing Menace For U.S. Companies
Cyberattacks are a growing menace for many U.S. companies, even the big boys.
For example, JPMorgan spends roughly $15 billion yearly on cyber defence and employs 62,000+ cybersecurity workers (more than Google or Amazon).
According to Wide Moat Research, cybercrime cost American businesses around $320 billion last year and is projected to cost another $1.8 trillion by 2028.
That means spending on cybersecurity will also increase as companies try to protect their profits. But which companies will benefit from the spending?
Cisco is one of the biggest companies providing networking hardware. A large part of the internet’s traffic flows through the equipment it produces, giving the company a unique opportunity to help stop cyberattacks before they happen.
- The tech giant has bought several small cybersecurity businesses and recently announced a $28 billion acquisition of Splunk – a large cybersecurity firm. This implies Cisco is gradually evolving from hardware to a cybersecurity business that could emerge as the big winner in a potential cybersecurity growth surge.
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