Sometimes the best way to fight fire is with fire. That's the idea between bug bounty programs using hackers to identify vulnerabilities in the cybersecurity systems of organizations. David Baker, Chief Security Officer at Bugcrowd, a bug bounty management company, explains how his company is exterminating cybersecurity threats.
Baker says the key to cybersecurity is transparency and adds that bug bounties are a way of fostering a relationship between hackers and companies. Uber's massive hack that impacted over 57 million people wasn't due to the absence of a bug bounty program because the ride-hailing company has a robust system in place, according to Baker. He says that from an ethical perspective, Uber's handling of the hack was bad and "they broke the law."
Bugcrowd is working to boost transparency in the cybersecurity space. To do so, it is launching a new tool, called Traffic Control, to give companies more insight and control of their bug bounty programs. The tool allows organizations to uncover additional return on investment from crowdsourced security testing with enhanced visibility into researcher activity, says Bugcrowd.
Parallel Systems has been selected to receive $4.5 million from the Department of Energy for an advanced testing program of its autonomous, battery-electric rail vehicles. The startup, which has raised more than $53 million to date, was founded by former SpaceX engineers to reimagine the rail system by creating a more efficient, decarbonized freight network. Matt Soule, Co-founder & CEO of Parallel Systems, joined Cheddar's Opening Bell to discuss what the company hopes to achieve.
A bipartisan bill introduced by U.S. Senators Amy Klobuchar (D-MN) and Cynthia Lummis (R-WY) aims to tackle the spread of misinformation on social media platforms, as well as the addictive nature of the sites and negative mental health impacts they have on users. The 'Nudge Act' would require studies to find and compile potential interventions that platforms could use to encourage people to think before they share a post, or log off after spending too much time on an app. The FTC would create rules based on these findings, and hold the platforms accountable. But will it work? Jesse Lehrich, co-founder of Accountable Tech, joins Closing Bell to discuss the bill, whether real results and regulations could come from it, and more.
