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The problem is lack of commercial incentives. Apple, Google, Facebook, etc all have serious dollars at stake if they don't get security right. Equifax on the ot
by mbesto 9y ago
The problem is lack of commercial incentives. Apple, Google, Facebook, etc all have serious dollars at stake if they don't get security right. Equifax on the other hand...
- wil421 9y agoSince when is 3 billion dollars in revenue not serious money?
- Pxtl 9y agoBecause they don't lose any of it for the breach. Market value will bounce right back. The company will merrily chug along like nothing happened and collectively the industry will go on working with Equifax because who else will they use?
- kahnjw 9y agoHave you heard the term moral hazard?
- mbesto 9y agoBecause you and I do NOT pay for or directly use the product that contributes to the $3B. I can buy a phone and still avoid Apple. I can use the web and still avoid Google. I can avoid Facebook altogether (some argument as to wether I can actually avoid this). But if I want to use a credit card, buy a house, etc. I cannot escape Equifax.
- wil421 9y agoThanks. I understand your point now. It's money that will motivate congress but in reality the Equifax breach is more impactful to you or me.
- kahnjw 9y agoExactly. And congress can fix it.
- wwweston 9y agoIf only society had some other tools in the box to address problems that market incentives can't cover.