December 16, 2021
Photo: Getty Images
Hello and welcome to Protocol | Enterprise. Today: why Log4j is a slow-moving disaster, Intel has big plans for EUV chip-making technology, and the cloud stock hangover is setting in.
The five-alarm fire caused by the Log4j security vulnerability shows no signs of getting under control. It’s safe to say that enterprise tech is aware of the problem, but it’s much more difficult to say whether everyone understands the extent to which they could be affected.
The race is definitely on to deal with Log4j. Developers and administrators continued to furiously patch affected systems this week as malicious hackers started to flood the world with exploits in hopes of stumbling upon vulnerable systems. But finding specific types of software that need fixing inside an average corporation is a far more daunting task than it might sound.
But this is a marathon as well as a sprint. Companies have no choice but to patch everything in their arsenal that might be affected by this vulnerability, which some security experts believe could cause problems for years.
So enterprise tech is far from out of the woods. While there’s a larger conversation to be had about how security efforts should tackle open-source projects, as we discussed on Monday, that’s unlikely to be the short-term fix companies are looking for.
There’s a parallel here, between companies that depend on cloud services and companies that depend on security vendors or consultants when things go wrong. While those customers should demand accountability from their vendors, in the end, they are responsible for their own uptime. If there was ever a wake-up call for companies who have treated information security as an afterthought while growth hacking their way to fame and fortune, this might be it.
— Tom Krazit
When your customers win, your revenue team wins. Creating a culture of obsessing over your customer’s success can ensure you don’t leave revenue on the table. Watch this episode of Club Revenue, as Splunk’s VP of Sales, Christine Gilroy reveals her best tactics for structuring a sales team dedicated to continued customer success.
Extreme chips: Protocol’s Max Cherney got a chance to tour one of Intel’s most important chip factories in Hillsboro, Oregon, where the company perfects the designs it will later produce in mass quantities. Check out his report on Intel’s plans for EUV lithography, which is theoretically “precise enough to hit your thumb with a laser pointer from the moon.”
Sysdig picked a good week to announce a new $350 million funding round that values the container security company at $2.5 billion. (Yes, we realize the deal was obviously in the works for some time.)
Noname also timed its announcements well: Its API vulnerability detection service could also be valuable in a post-Log4j world, and it now has $135 million in new funding valuing the company at $1 billion.
Airtable raised a huge $735 million Series F round as collaboration software startups stay hot, with Salesforce helping to boost its valuation to $11 billion.
App integration services like SnapLogic are also hot, as they’re a major priority for companies that have grown quickly over the last few years, and a new $165 million funding round values the company at $1 billion.
Dbt Labs is looking for a new funding round to build out its open-source data analytics tool that could value the company at $6 billion, according to Forbes.
Cockroach Labs raised $278 million in a Series F funding round that values the cloud database company at $5 billion.
Bloomberg took a close look at the Log4j mess, particularly at the collaboration between Alibaba and the Apache Software Foundation as they scrambled to patch the bug. It included this incredible detail: The vulnerability appears to have sat there undetected since 2013.
Some of Kronos’ HR software tools could be down for “weeks” after a ransomware incident. It’s not clear whether the incident was related to the Log4j fiasco.
Joshua Burgin left AWS this week. Protocol reported earlier this year that Amazon CEO Andy Jassy overruled an internal recommendation to fire the AWS executive over discrimination and harassment claims.
Another week, another AWS outage. After Protocol recommended that AWS customers run more of their applications out of US-West-2, its supposedly stable Eastern Oregon data center, that region suffered brief “connectivity issues” Wednesday morning. So, that’s awkward.
The party appears to be over for most enterprise cloud software stocks that enjoyed a surge of investment amid the pandemic cloud boom, as investors finally realize those companies won’t grow nearly as quickly in the future.
Club Revenue on Nasdaq digs into the strategies driving revenue growth at the highest performing companies. Tune in as Clari’s CMO Cornelius Willis interviews innovative revenue leaders to learn their tactics for building sales teams that drive unmatched success for their customers.
Thanks for reading — see you Monday!