It’s day 5 of the great computer outage of 2024
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 23 July 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
The Crowsdstrike software update — which knocked out an estimated 8.5 million Windows computers and impacted airlines, government operations and 9-1-1 emergency calls, is continuing to wreak havoc, and outage costs are estimated to be several billion dollars. We’ll discuss the latest and hear what to do if you’re one of the many, many passengers who’s been affected. And later: Why is everyone talking about “The Magnificent Seven” tech stocks?
Transcript
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| 0:00.0 | It's day five of the great computer outage of 2024. |
| 0:06.6 | I'm David Brancaccio. |
| 0:07.8 | We'll start with the latest on the software update |
| 0:10.4 | that knocked out an estimated 8.5 million Windows computers starting last |
| 0:14.8 | Thursday into Friday, a Texas-based computer security firm crowd strike acknowledged |
| 0:20.0 | it was the source of the problem which affected airlines, government operations, 9-11 emergency |
| 0:24.9 | calls, and postponed elective surgeries at medical facilities. |
| 0:29.0 | This morning, Crowd Strike is facing a deadline from lawmakers in the House of Representatives and we're getting some |
| 0:34.2 | numbers on who might pay. |
| 0:36.0 | Marketplace's Novasafo has details. |
| 0:39.3 | The reason the CrowdStrike glitch has taken so long to resolve is that the faulty automatic update beam to millions |
| 0:45.3 | of Windows machines requires manual removal. Crowd Strikes efforts to help include a new online |
| 0:51.6 | video tutorial that, well let's just say, takes a few steps. |
| 0:55.0 | Type the following. |
| 0:57.0 | C.D. Space. |
| 1:00.0 | percentage sign. |
| 1:01.0 | I'll spare you the rest, and if self-help fails crowd strikes advice is |
| 1:04.8 | Please reach out to your IT department meanwhile outage costs continued amount now |
| 1:09.8 | estimated at several billion dollars Fitch ratings agency says the insurance industry should be able to handle that |
| 1:17.0 | in large part because they won't have to pay most of it. |
| 1:20.0 | A big reason is that cyber-event insurance usually comes with time limits of 8 to 12 hours, |
| 1:25.5 | not the kind of prolonged global meltdown crowd strike caused. |
... |
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