Cybersecurity is Becoming an Unsustainable Tax on Business

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ZDNET | July 28, 2016

The cost of cybersecurity has become a burdensome tax on business and with 1.5 million IT security jobs unfilled, US corporations are losing to sophisticated criminal gangs, said security experts at a recent event in San Francisco.

“Cyber is a tax on business. Jamie Dimon [JP Morgan Chase CEO] has had to double his cybersecurity budget to $500 million. Things can’t continue this way forever, we have to get ahead of the problem,” said Ray Rothrock (photo), a veteran VC, now chairman and CEO of RedSeal, a startup that measures the effectiveness of enterprise security.

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