:( Your PC Ran Into a Problem

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4.4 • 3K Ratings

🗓️ 22 July 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

CrowdStrike’s update caused problems and blue screens of death for mission-critical operations across the economy. What does it mean for the cybersecurity company and the access tech providers will have going forward? (00:21) Tim Beyers and Dylan Lewis discuss: - The details of the global IT outage over the weekend and CrowdStrike’s response. - CrowdStrike’s unique root access and whether vendors will continue to be allowed such deep access to customer Windows systems. - Whether CrowdStrike is worth buying on the sell-off, or if management has something to prove first. (17:16) President and COO of Kinsale Capital Brian Haney talks Bill Mann through how retail investors can judge financial companies and why insurers have such a tough time in states like Florida. Companies discussed: CRWD, MSFT, KNSL Our conversation with Brian Haney was from FoolFest 2024 – members can catch the full interview and everything from our FoolFest digital pass at foolfest.fool.com. Host: Dylan Lewis Guests: Tim Beyers, Bill Mann, Brian Haney Producer: Ricky Mulvey Engineer: Tim Sparks Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You get a blue screen of death and you get a blue screen of death. And you get a blue screen of death.
0:08.0	Motley Full analyst Tim Byers.
0:25.8	Tim, thanks for joining me.
0:27.3	Thanks, Dylan. That's rough man. Nobody wants a blue screen of death.
0:31.8	Nobody wants it. Nobody does.
0:33.0	And yet, a lot of people got it.
0:35.0	Blue screens of death everywhere over the last couple days.
0:38.0	And that is going to be the theme of today's show,
0:40.0	catastrophes of every kind.
0:42.0	We are checking in on the largest IT
0:44.3	outage. We're also going to be getting a little bit of commentary on the insurance
0:48.2	industry and how they handle catastrophes on today's show. Let's start with
0:51.8	the unavoidable one here, Tim. The largest
0:53.7	worldwide IT outage hit Friday, went well into the weekend, some airlines and I
0:59.4	think some other businesses still dealing with issues on Monday. We know that the issue was
1:04.8	Crowd Strike. We knew that on Friday, still piecing information together, but we
1:09.6	have a little bit of a better grip on things now. I think to kick us off, can you walk through what happened?
1:14.6	Yeah, so this was, I mean, it's, unfortunately, this was a software update that was a bad update.
1:24.2	To put it, I mean, if we're gonna be blunt about it,
1:28.2	that's what happened.
1:29.0	And Crowd Strike is in a boatload of devices around the world, but it only affected Windows devices.
1:36.3	So this is from the Crowd Strike Technical Blog.
	...

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