A friend sent this, thinking we had missed it. Ha!
From Good Housekeeping, January 27:
Thought you should know.
- A World Economic Forum report says business leaders believe a “catastrophic cyber event” is coming.
- Cybercrime will grow from a $3 trillion industry in 2015 to a $10.5 trillion industry by 2025, according to Cybersecurity Ventures.
- The unpredictable nature of cybercrime increases threats.
The 2023 World Economic Forum (WEF) in Davos, Switzerland, has filled us with lots of uplifting predictions, like how companies will soon decode our brain waves. The latest warns of a global catastrophic cyber event in the very near future.
“The most striking finding that we’ve found,” WEF managing director Jeremy Jurgens said during a presentation highlighting the WEF Global Security Outlook Report 2023, “is that 93% of cyber leaders, and 86% of cyber business leaders, believe that the geopolitical instability makes a catastrophic cyber event likely in the next two years. This far exceeds anything that we’ve seen in previous surveys.”
Add in the extreme unpredictability of these events—Jurgens cited a cyberattack recently aimed at shutting down Ukranian military abilities that unexpectedly also closed off parts of electricity production across Europe—and the global challenges are only growing.
“This is a global threat,” Jürgen Stock, Secretary-General of Interpol, said during the presentation....
....MUCH MORE
Good Housekeeping seems to have expanded their remit since last I looked.
I suppose they have to keep up with Better Homes and Bunkers new Faraday Cages newsletter.
And the Ha!? We had the story February 20, 2023 along with some extra seasoning (marinate overnight and wow your guests):
WEF's Klaus Schwab: "Humans Might Not Survive the Fourth Industrial Revolution"
Once again raising the question posed by The New Statesman: "Would extinction be so bad?".From Popular Mechanics, February 17:Humans Might Not Survive the Fourth Industrial Revolution, Global Leader Says
That’s comforting.
- World Economic Forum chairman Klaus Schwab warns about humans losing control of the world during the fourth industrial revolution.
- During a World Government Summit talk, Schwab says the world must come together to stay ahead of the new technology.
- Without mastery of the quick-moving technology, humans can get left behind.
The hits keep coming from the World Economic Forum. Not long after the WEF’s recent annual conference in Switzerland, where global leaders predicted imminent catastrophic mutating events, among other things, the World Government Summit took place in Dubai this week. There, WEF founder and chairman Klaus Schwab said “we are faced with issues which are of existential importance for humankind.”
Schwab says the fourth industrial revolution in which we’re currently engaged—a confluence of innovations in AI, the Internet of Things, quantum computing, and more—will fuse together our physical, digital, and biological identities and could potentially “escape our power to master.” Of course, Schwab would love to see the world “reglobalize” to take on this impending change........MUCH MORE
I would love to see how Mr. Schwab's portfolio is positioned, in particular if he has solved the counterparty solvency problem inherent in Armageddon puts and other such end-of-the-world derivatives. I mean beyond the basic "always, always demand collateral. Upfront."
Oh, and the Fed raised rates a quarter point, pretty boring when stacked up against Catastrophic Mutating Events. Market reaction to Chairman Powell and the gang: meh..
