Hi and welcome to the A16Z podcast. I'm Doss. Today's episode is all about

Ransomware. We've covered a lot of different types of organized cybercrime and

hacks on our show over the years, many of which you can find at A16Z.com slash hacked.

But in just the last couple years, Ransomware in particular has grown into a multi-billion dollar industry.

It's evolved from taking systems and servers

hostage to stealing data and it's capable of shutting down

global organizations. In recent months, ransomware groups directly shut

down Kia Motors North American IT systems,

indirectly led to the death of a patient due to hospital ransomware, and allegedly stole sensitive

files from a law firm whose clients include former President Trump.

So in this quick explainer episode, Tom Hoffman,

the SVP of Intelligence at Flashpoint Intel,

which monitors ransomware criminal syndicates

and assists organizations with prevention and response shares his expertise with us.

Along with A16Z security operating partner Joel Dela Garza, we cover how ransomware works,

from the anatomy of a hack to how the groups operate,

the role of nation states, insurers, and regulators,

and what to do if your stuff is taken hostage.

But we start with Joel explaining,

what exactly is ransomware

Ransomware is kind of the pinnacle of the crimeware slash hacking for profit

type activities that we see. It is basically software that's used to

...