I'm seeing a lot of people who believe this is gonna blow over. "It's just an outage bro, happens all the time, we just fix it and move on". No. Not when it's on this scale. Not when it takes billions off the global economy and cripples businesses. Not when it threatens the financial system. Not when it hurts the government themselves. It is just too big to ignore.
Congress will investigate this and conclude that it's unacceptable. Not unacceptable 'I'm angry at you', but literally unacceptable – it cannot happen again. And the only way they can do that is to take it out of private hands or regulate the shit out of it. Either way, there is no future for it as an investment.
And worse, it will prompt them to look at the implications of using AI to take over production in various areas. Something they know is an issue, but have managed to ignore so far. They won't ignore it anymore. There will be sweeping regulation in this area too.
CRWD+AI/tech bull took a mortal wound yesterday, it just didn't realise it yet. Do not be fooled because the stock bounced. It was too obvious a short. It will go down, but only once the shorts have capitulated.
People are wildly underestimating the implications of the CrowdStrike outage
byu/dubov inwallstreetbets
Posted by dubov
47 Comments
This may be true…. But there will still be a nice rebound period within which to make big $$. Regulation won’t come quickly enough to impact that in the short term.
Lol congress is lobbied into puppetry. No one is going to allow them to nationalize Crowdsource.
IRM,Data and IT security
CRWD is a 2B company what are you talking about? At worst MSFT will drop it and that’s it. Doomsday preacher much.
Relax that’s what insurance is for, all sorts of sh1t
Lawsuits galore incoming – especially from the airline industry
This is ridiculous. 99.9 percent of the population were not affected and would have been unaware of outage if not for news coverage. If their online bank went down, the vast majority would not have tried to access anyway. Same with ATMs etc. Yes, a few thousand people got their flights delayed for a few hours or maybe even – gasp – overnight.
I’m a contract software developer. I know nothing about security. I don’t really understand (or care) what CrowdStrike even does although I distinctly remember it showing up on my system one day about 6 months ago. My guesses are that this does not impact MSFT much at all. CrowdStrike might disappear only to return under a different name and/or slightly tweaked.
The big wildcard would be congress. If congress decides we depend too much on single vendors then all bets are off in a major way. That is extremely unlikely to happen. Maybe it’s true but there’s no good solution for it today so it would only unleash mass chaos and set huge piles of money on fire. They’ll talk about it but they won’t do it.
My issue is that CrowdStrike is valued on growth. And with the largest IT outages in history, they are going to have issues growing their revenue
Did something bad happen I missed? Cause from my perspective a small (in relative terms) group of people were inconvenienced for a few hours.
What did I miss?
Qqq 485 eow
Wait, I miss the part where AI is the cause of the outage. Isn’t it a bug caused by update? ie: human error in programming.
Thanks for the laugh!
Nobody in Congress is that smart and the House majority can’t pander to their base if they INCREASE regulation on their tech bro financiers.
Regulation on third and n-party outsourcing has always been around. The ones on the forefront is in Europe. You can read up on EU DORA but that is premised on the financial services industry. There are other relevant regulations in US and EU.
Bear in mind that the likes of Google, Microsoft and Amazon have come much under scrutiny and will be so in the foreseeable future because many services have been down when their cloud services experienced outages. They likely lobbied to reduce the amount of scrutiny on them. They are no different from Crowdstrike or many other important third party service providers.
You almost tricked me into thinking you know what you’re talking about, but then you randomly started talking about how this is bad for AI when A) AI isn’t involved at all and B) no it’s not. Old systems being bad and human error causing major system crashes is bullish for AI. I guaran-fucking-tee you that there are top level smooth brain execs who are demanding to know if this “AI” stuff they keep hearing about can prevent this from happening again and if so, how much does it cost.
If it is back to normal on Monday… nothing burger.
What in the fuck did I just read? Is this the regard setting on ChatGPT?
Show us your puts leveraged to the tits then OP
Bitch have some positions before having an opinion nobody cares about.
This is the correct take
This simply proved that crowdstrike has completely dominated the endpoint monitoring market and will continue to have massive ARR.
Nah. Why else you think they named it crowdstrike? This was the plan all along.
Didn’t read but if all internet goes down most everything stops? We’ve become dependent on the internet even addicted, if it goes down we gonna have serious withdrawals.
This sounds very rational and something a healthy democracy would do but will never happen in Murica
Cant wait to hear the bagholder DD in a year.
>Congress will investigate this and conclude that it’s unacceptable.
RIP to the staffers tasked with explaining to the elder Congress members what CrowdStrike does.
There may be consequences outside the US.
But within, not going to be taken up, and too close to an election with a major “deregulate” theme coming from the GOP.
Calls it is!
Disagree. It’s just an anti virus software. Governments and Organizations affected probably won’t renew their contracts. There maybe regulations put into place to have 2 or 3 different antivrius softwares installed on machines in mission critical organizations. I don’t think this will cause waves.
Good luck regulating bugs in widely deployed software
They will just play whackamole like every other technology company. They will do a root cause analysis and then create a bunch of action items to ensure it can’t happen again. In a month it will be mostly forgotten.
I agree that this is a big deal but long term it won’t affect CrowdStrike’s value. A handful of companies might go out of business but others will just come in and take their place. Circle of life.
Lmao yall think so highly of government investigation and enforcement. This is America, businesses get away w murder literally.
Ahh you made this post so you know inverse wsb. Lollolololol
🚀 🌖
AI is fundamentally antihuman so it can take a boat trip to hell!
I’m certainly not underestimating it because I’ve been predicting a software Chernobyl for years. When I saw the news I was like yeah, sounds right.
Naturally I’m still losing money right now, but apart from that I’m fucking clairvoyant.
Remember when the credit bureaus leaked all our critical data and everyone immediately regulated it?
Oh you don’t remember? Yeah cause we just moved on.
The Starbucks near me was open, but they were writing the orders on the cups manually (the sticker printers were down), and I couldn’t do a mobile order.
If all the stores had these problems, I’m guessing they lost millions.
“Congress will-“
So nothing will happen, got it.
what is crowdstrike? some kind of sindicate?
I don’t play shorts and really love seeing 🐻 suffer, but mannn this one is tempting…
Reads like copy pasta
I’ve been saying for the past few years we are in the wild wild west phase of AI and tech.
This is when all the crazy shyt starts happening that eventually creates federal regulation.
Legal/Compliance consulting, crisis management /businesses continuity firms are going to profit heavily over the next decade.
I suspect we’ll also see a “new” field pop up ..similar to human resources.. AI auditing / compliance etc. Companies will move from creating AI to employing those versed in legal and best practices.
It’s been in the s and p 500 for 5 minutes. This thing ain’t going to 0.
Nope
Challenge to OP – without googling what Crowdstrike does. How does their Falcon endpoint security tool work?