‘Singapore companies increasingly collaborating with Indian counterparts’- Tempemail – Blog – 10 minute

Singapore companies are increasingly collaborating with Indian corporations and business counterparts, especially tapping opportunities in health-tech, rural-tech, e-commerce and smart-city development programme, an official said.
“As India pushes ahead with digitalization efforts, we see increasing opportunities in health-tech, rural-tech, e-commerce and smart city development,” said Peter Ong Boon Kwee, the chairman of Enterprise Singapore, which promotes Singapore companies globally.
“We continue to deepen this economic cooperation and partnership (with India),” Ong said at the Institute of Directors’ Singapore Global Convention 2020 on Thursday. Ong said that Enterprise Singapore has 36 offices, three of which are in India, for internationalising Singapore businesses. He mentioned that the Global Innovation Alliance (GIA) network has also been launched in Bengaluru during a startup event in October.
The GIA in Bangalore facilitates and encourages the two-way flow of startups, technologies and ideas between Singapore and major innovation hubs. The GIA has connections to 12 global cities. “In Bangalore I witnessed vibrancy of the Indian startups and technology ecosystems,” he said, adding that Singapore is now working with partners such as incubators, venture capitalists and mentors to run activities and initiatives that will strengthen such exchanges.
“We share some interesting insights on technology and financing ecosystem. The landscape I saw (in Bangalore) is truly dynamic and I am not surprised that India is currently the third largest start up eco system in the world,” said Ong who is also senior advisor to Singapore’s Trade and Industry Ministry.
Ong hopes to encourage many more partnerships and innovation between Singapore and Indian companies. Elaborating further, he said Singapore companies want to join Indian businesses in technology-driven areas to grow into the South East Asian markets. More than 8,000 Indian companies are already based in Singapore for regional markets while some 500 Singapore companies are involved in a wide range of businesses in India.

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Standstill At Picanol An Alert For Companies. What Is A Ransomware Attack?- Tempemail – Blog – 10 minute

Earlier this week, Belgium based company Picanol was struck with the news of a ransomware attack on their IT systems. It is a malware that locks a company out of its own IT systems with cybercriminals demanding a ransom.
Relying heavily on computers for operating, their production segments in Romania, China, and Belgium came to a standstill. 
This isn’t the only ransomware attack that happened in the year. As 2020 came into being, a ransomware attack was already waiting on a US maritime facility. After an offline period of more than 30 hours, they were back online. Facilities that were affected were cameras, door access control systems, and critical monitoring systems. 
The ransomware was believed to be sent via a malicious email link that an employee clicked on. This isn’t surprising news especially since 2019 saw major ransomware attacks on big enterprises. As per statistics, $1 billion is a ransomware’s minimum annual global revenue and to recover from it is 8 times higher cost for businesses. 
Read: Ransomware-As-A-Service, IoT Attacks And Cryptojacking On A Rise: Report
What exactly is ransomware and how can organizations prepare for it? 
What is ransomware?
If your laptop screen displays “Windows can’t open this file” or you are completely locked out of your system, there is a high chance you have been attacked by ransomware. If you find that one by one all your colleagues have lost access to their computers, then the attack has been targeted to your entire organization. 
A ransomware is a malware that typically locks a person’s access to their computer through a malicious link. The ‘ransom’ in the name is actually a ransom that is demanded by the cybercriminal to give you back access. 
The laptop or computer screen shows ‘how to pay the fee to decrypt’ guide for you to go ahead. 
How does ransomware work?
Most commonly the attack is pursued through a phishing spam i.e baiting the victim with malware attachments in emails for download. You can predict what happens next. Once downloaded, these files take over the computer, leaving no control to the victim. There are more frightening ransomware types too that don’t even need to trick the user into accessing their systems. 
Read: New Ransomware Variants Double In Q2: Kaspersky
How can an organization prevent itself from a ransomware attack?
These are routine procedures that cannot be taken for granted. It will save you a lot of time and money (ransom, in this case) to stay careful with your systems. 
This is how an organization can prevent itself from a ransomware attack: 

Installation of antivirus and security software 

An antivirus software would be extremely helpful in detecting any malicious programs or files that accidentally got onto your system. You can also opt for internet security solutions that are on the watch-out when you are streaming videos or downloading files. 

Always have updated software

It is highly recommended that you should keep your software updated to their newest versions. Why? Older software is more vulnerable to cyber-attacks. With new updates, there are always the latest updates on the security patches. 

Back up your data at regular intervals

Having a back up of your data is the best thing even in small scenarios of human error deleting or big scenarios like ransomware attacks. However, you must do it at regular intervals of time so you don’t fall victim to an attack. An external hard drive and cloud storage are good options that you can consider for backing up your data. 
How should an organization respond to a ransomware attack?
First thing: Never agree to pay to the ransom. A cyber attack situation is similar to real-life attack situations. There is absolutely no guarantee that you will retrieve all your data if you pay the ransom and hence, don’t take up a negotiation with the cybercriminal. 
Another thing you must remember to do is to disconnect from the internet or any other network you are connected to. This will minimize the level of damage that the ransomware attack would otherwise achieve. 
Read: Can Ransomware Attacks Be Fought By Adding ‘Time Travel’ Feature To Drives?
Concluding…
Ransomware attacks are growing with companies’ growing dependence on computer systems and data. To be vigilant of cyber threats and take learnings from misfortunes of other companies would be a smart way forward. The magnitude of a ransomware attack is capable of bringing an entire city on a standstill, so caution is advised to companies. 

If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]

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US’ Mnuchin urges Apple, other tech companies to work with law enforcement – Strategy – Hardware – Security – Storage- Tempemail – Blog – 10 minute

Apple and other technology companies should cooperate with US investigators, Treasury Secretary Steven Mnuchin said on Wednesday as law enforcement officials continued probing last month’s fatal shooting at a US naval base in Florida.
On Tuesday, President Donald Trump lashed out at Apple in a tweet for refusing to unlock phones in criminal investigations while the company benefited from the federal government’s help on trade issues.
The Federal Bureau of Investigation is seeking to unlock two iPhones involved in the case regarding the shooting of three Americans by a Saudi Air Force officer at the US Naval Station in Pensacola, Florida. Attorney General William Barr this week called on Apple to help.
Their request has renewed attention to privacy issues in the digital age, with Apple and its rivals arguing strong encryption protects users while law enforcement officials counter it allows criminals to evade justice.
“I understand the president’s view, and it is absolutely critical for our technology companies to cooperate with law enforcement,” Mnuchin told CNBC in an interview.
Mnuchin later told reporters at the White House that he had not discussed the issue with Apple and did not know the specifics at hand. “I know Apple has cooperated in the past on law enforcement issues, and I expect they would continue … to cooperate.”
Apple has said that it has helped investigators in the Pensacola case by providing other data, but that it cannot access encrypted data stored on the actual devices without building a so-called “back door.”

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Facebook is betting big on selling ad space to Chinese companies – Blog – 10 minute

In brief: Facebook is currently banned in China, but that doesn’t mean it can’t tap its potential in other ways. Many Chinese companies want to use the social giant’s global presence and powerful ad tools to get ahead of the competition and expand their customer base, so Facebook is building a team dedicated to helping them out.
Last week, Facebook CEO Mark Zuckerberg officially gave up on annual challenges, opting for longer-term goals that cover the next decade. Among them are the fight to give more power to the people and a push for establishing rules around issues that are long in the tooth, such as election integrity, privacy, and the sanity of Facebook’s online platforms.
Meanwhile, there’s a lot of money on the table for its advertising business, especially in China. Despite Zuckerberg’s criticism of the region and its tendency to govern big platforms with censorship and strict rules, Facebook is building a new team of engineers in Singapore that will be dedicated solely to driving its advertising business in Southeast Asia.

Reuters notes the biggest challenge will be to develop ad-buying tools that Chinese customers can use to overcome internet restrictions imposed by the government. China is the second-largest source of revenue after the United States, with Facebook selling an estimated $5 billion worth of ad space in the region.
While Zuckerberg is unable to operate Facebook in China, companies, like TikTok owner ByteDance have used Facebook’s ad tools to propagate to a global audience. By the second half of 2019, ByteDance shifted to build its own advertising business to compete with Facebook’s.
Still, that leaves many small startups that need the power of Facebook to achieve visibility in a crowded global landscape. According to Raggy Lau, who runs a small ad agency in China, serving 30 companies, Facebook will see a significant demand for its ad tools this year and beyond.

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America’s largest companies push for federal online privacy laws to circumvent state regulatory efforts – gpgmail


As California moves ahead with what would be the most restrictive online privacy laws in the nation, the chief executives of some of the nation’s largest companies are taking their case to the nation’s capitol to plead for federal regulation.

Chief executives at Amazon, AT&T, Dell, Ford, IBM, Qualcomm, Walmart, and other leading financial services, manufacturing, and technology companies have issued an open letter to Congressional leadership pleading with them to take action on online privacy, through the pro-industry organization, The Business Roundtable.

“Now is the time for Congress to act and ensure that consumers are not faced with confusion about their rights and protections based on a patchwork of inconsistent state laws. Further, as the regulatory landscape becomes increasingly fragmented and more complex, U.S. innovation and global competitiveness in the digital economy are threatened,” the letter says.

The subtext to this call to action is the California privacy regulations that are set to take effect by the end of this year.

As we noted when the bill was passed last year there are a few key components of the California legislation including the following requirements:

  • Businesses must disclose what information they collect, what business purpose they do so for and any third parties they share that data with.

  • Businesses would be required to comply with official consumer requests to delete that data.

  • Consumers can opt out of their data being sold, and businesses can’t retaliate by changing the price or level of service.

  • Businesses can, however, offer “financial incentives” for being allowed to collect data.

  • California authorities are empowered to fine companies for violations.

There’s a reason why companies would push for federal regulation to supersede any initiatives from the states. It is more of a challenge for companies to adhere to a patchwork of different regulatory regimes at the state level. But it’s also true that companies, following the lead of automakers in California, could just adhere to the most stringent requirements which would clarify any confusion.

Indeed many of these companies are already complying with strict privacy regulations thanks to the passage of the GDPR in Europe.


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New investment firm wants to change the way we fund early stage companies — from New Hampshire – gpgmail


The three founders of York IE have a vision about how to change the way early stage startups get funding. They have experience shattering norms, having built a successful startup, Dyn, in Manchester, New Hampshire, which is not exactly a hot-bed of startup activity.

The founders want to take that same spirit and apply it to investing, while maintaining its headquarters in New Hampshire (and Boston). In fact, the three founders — Kyle York, Joe Raczka and Adam Coughlin — launched Dyn and built it to $30 million in ARR before taking a dime in venture funding. They went onto raise $88 million before being acquired by Oracle in 2016. They believe they can apply the lessons that they learned to other early stage startups.

“We think, especially in B2B and SaaS, there is a way to build a scalable, effective and efficient business without chasing massive fund raises, diluting your company, bringing on traditional venture investors and chasing those kind of on-paper vanity metrics,” company CEO and co-founder Kyle York told gpgmail.

For the past five years, while working at Oracle after the acquisition, the founders have been testing their theories while advising startups and acting as angel investors. They believed it was time to take all of those learnings and apply it to their own firm.

“I started thinking about how to transition out of Oracle, and what I wanted to do from a career perspective and we wanted to build a modern investment firm less focused on how to deploy as much capital as possible for the limited partners, and more on working with the entrepreneurs to help coach them on a path to success,” York said.

The company still wants to act as investors, and to make money along the way, but they want to help build more solid, grounded companies. York says that they want the founders truly understand that they are selling a part of their company in exchange for those dollars, and that it makes sense to have a strong foundation before taking on money.

York wants to change this culture of fund raising for fund raising’s sake. He acknowledges that some companies with deep tech or deep infrastructure require that kind of substantial up-front investment to get off the ground, but SaaS companies are supposed to be able to take advantage of modern technology to build companies more easily, and he wants to see them build solid companies first and foremost.

“The goal shouldn’t be to raise more capital. The goal should be to build a healthy successful, scalable company,” he said.

To put their money where their mouth is, the new firm will not take management fees. “We are investing like a normal investor and coming through with an equity position, but we are betting on the future. In essence, if the startup wins, then we win.”


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Why Box is one of the most underappreciated companies – gpgmail


Hello and welcome back to Equity, gpgmail’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week, we recorded on location at gpgmail Sessions: Enterprise in San Francisco, a show that saw talks from Box’s Aaron Levie, Atlassian CEO Scott Farquhar and venture capitalists Maha Ibrahim, Rebecca Lynn and Jason Green. The latter, the founder of Emergence Capital, joined us before his panel for a special episode of Equity focused almost entirely on enterprise tech. Danny Crichton, the esteemed leader of gpgmail’s Extra Crunch, was on hand to co-lead the episode with Kate.

Before we jumped too deep into the enterprise pool, we had to review some news from one of the most-talked about companies. The co-working giant, legally known as The We Company, is said to have halved its IPO exceptions to a minuscule $20 billion! Ok that’s not really that small but compared to its most recent valuation of $47 billion, we’re a bit shocked.

Next, we ran through the IPO pipeline. Cloudflare is expected to go public next Friday. Datadog will come after that. WeWork is reportedly kicking off its roadshow next week, but given this week’s reports, that could be delayed.

After that, Green gave us his take on Box, the file sharing business in which he was an early investor in. If you haven’t heard, activist investor Starboard Value took a 7.5% stake in the business this week. Green explains what that means and what he think is next for the company. Levie, of course, spoke on stage at the enterprise event. In short, the executive said his goal is to continue building a sustainable business.

Finally, we dove into the latest trends in startups. Enterprise still isn’t sexy but it’s much sexier than it’s been in the past. Why? Because all the enterprise startups want to build consumer friendly tools. Tune in to hear what Green thinks of the consumerization of the enterprise and all the startup madness.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify, Pocket Casts, Downcast and all the casts.


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Reps from DHS, the FBI and the ODNI met with tech companies at Facebook to talk election security – gpgmail


Representatives from the Federal Bureau of Investigation, the Office of the Director of National Intelligence and the Department of Homeland Security met with counterparts at tech companies including Facebook, Google, Microsoft and Twitter to discuss election security, Facebook confirmed.

The purpose was to build on previous discussions and further strengthen strategic collaboration regarding the security of the 2020 U.S. state, federal, and presidential elections,” according to a statement from Facebook head of cybersecurity policy, Nathaniel Gleicher.

First reported by Bloomberg, the meeting between America’s largest technology companies and the trio of government security agencies responsible for election security is a sign of how seriously the government and the country’s largest technology companies are treating the threat of foreign intervention into elections.

Earlier this year the Office of the Inspector General issued a report saying that the Department of Homeland Security has not done enough to safeguard elections in the United States.

Throughout the year, reports of persistent media manipulation and the dissemination of propaganda on social media platforms have cropped up not just in the United States but around the world.

In April, Facebook removed a number of accounts ahead of the Spanish election for their role in spreading misinformation about the campaign.

Companies have responded to the threat by updating different mechanisms for users to call out fake accounts and improving in-house technologies used to combat the spread of misinformation.

Twitter, for instance, launched a reporting tool whereby users can flag misleading tweets.

“Improving election security and countering information operations are complex challenges that no organization can solve alone,” said Gleicher in a statement. “Today’s meeting builds on our continuing commitment to work with industry and government partners, as well as with civil society and security experts, to better understand emerging threats and prepare for future elections.”


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More than 130 U.S. companies have reportedly applied to sell to Huawei, but the Commerce Department has approved none of them – gpgmail


Trump said in July that some U.S. suppliers would be allowed to sell to Huawei while it remains blacklisted, but so far no vendors have been allowed to do so. Reuters reports that more than 130 applications have been submitted by companies that want to do business with Huawei, but the U.S. Commerce Department has not approved any of them yet.

Huawei has served as a bargaining chip in the U.S.-China trade war, which escalated again last week when Trump said he would adds tariffs to $550 billion worth of Chinese imports, after China said it would impose duties of $75 billions on U.S. goods. Trump’s mixed signals during this weekend’s G7 summit also created confusion on Wall Street.

When both presidents met at the G20 Summit in June, Donald Trump told Chinese leader Xi Jinping that he would allow some American companies to sell to Huawei, even though it remains on the Commerce Department’s Entity List. Secretary of Commerce Wilbur Ross said the Commerce Department would begin accepting applications again, requiring companies to prove that the tech they sell to Huawei would not pose a national security risk.

But one of the reasons no licenses have been granted yet is because the Commerce Department is unclear about what it is supposed to do. Former Commerce department official William Reinsch told Reuters that “nobody in the executive branch knows what [Trump] wants and they’re all afraid to make a decision without knowing that.”

In addition to providing telecom equipment, Huawei is an important customer for many U.S. tech firms, including Qualcomm, Intel and Micron. Out of the $70 billion in parts it bought last year, $11 billion of that went to U.S. suppliers. The U.S. claims Huawei is a national security risk, a charge the company has repeatedly denied.


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Crossbeam gets $12.5M Series A to help companies organize their partnerships – gpgmail


When Crossbeam CEO and co-founder Bob Moore was working at previous startups, he noticed a problem around sharing information with potential partners. In fact, it was so acute he decided to create a startup to solve that problem, and today, Crossbeam announced a $12.5 million Series A round led by FirstMark Capital with participation from existing investors Uncork Capital and Slack Fund.

Moore says that in his previous jobs, he was encountering issues with getting partners integrated and answering basic questions like how many customers do we have in common or are my sales reps currently selling to any of the same people that your sales reps are selling to, and so forth.

“We eventually realized the reason these questions were hard to answer was that you can’t draw a Venn diagram of all the data unless you have all of the data in both of the circles,” Moore told gpgmail. In other words, each company has only half of the picture, what they already know, and it’s hard to make data-driven decisions without more information.

Summary Dashboard

Crossbeam Summary Dashboard. Screenshot: Crossbeam

He added that there is danger in the age of GDPR and the upcoming California Consumer Privacy Act (CCPA) in oversharing of data, but at the other extreme is not sharing at all. Moore said he created Crossbeam to deal with this. “It seemed like the solution would be to build something that could almost function as an escrow service for data, which could sit between companies that are partnering with each other, and allow them to combine their data sets and identify that when certain conditions are met — like an overlapping need, or an overlapping customer — to take very specific precise actions as a result of that overlap,” Moore explained.

The product works by sharing data from tools like Salesforce, Hubspot or even a .csv file and comparing that data inside of Crossbeam. Partners can see the overlap and where it makes sense for them to work together. Sometimes that may involve customer names, but other times it may be common sales reps across accounts. He says that many companies start with highly trusted partners to get comfortable with the product before branching out.

The company, which was founded in July 2018, has 15 employees and is based in Philadelphia. It previously received a $3.3 million seed round at the end of 2018.


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