January 16, 2017

The Street: Shark Tank’s Herjavec: For the First Time, Data Being Used as a ‘Weapon’

Many people recognize Robert Herjavec as the investor from CNBC’s “Shark Tank.” However, Herjavec also runs the largest cybersecurity company in the world, Herjavec Group. 

With cybersecurity increasingly becoming a polarizing topic, from Russia hackings to Yahoo!‘s (YHOO) reporting of two separate large-scale attacks, Herjavec discussed the U.S. war on cybersecurity during CNBC’s “Squawk on the Street” Friday morning.

“Cybersecurity is a big issue. It’s a big issue for a government, it’s a big issue for corporations, and we are just trying to elevate the noise around it,” Herjavec said. He argued that currently, the U.S. does not allocate enough resources to this fight.

“We own the largest cybersecurity company in the world, so of course I’m going to say no we are not spending enough,” he said. “It’s challenging because people are the last bastion of security and there is zero unemployment in cybersecurity. So, part of this tool is discipline and part of it is the people.” 

Moreover, he stated that for the first time, data are being employed as a weapon, carrying serious ramifications.

“In the past cybercrime was about stealing something, now what we are seeing is people taking information to use it as a weapon against others,” Herjavec said. “I’m not sure that the hacks really influenced the election one way or the other, but certainly they got a lot of information that was comprising to different people.”

He reiterated that anyone using a public website have two levels of authentication, stressing its utmost importance.

Originally posted on thestreet.com