Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
https://www.darkreading.com/dr-tech/5-ai-cybersecurity-predictions-for-2022
Anyone can read full article? Thx
https://www.thetimes.co.uk/article/court-fight-sheds-light-on-darktraces-tactics-khb5z9s6n
Full article
Compared with competitors it scored the lowest rating across almost every measure, although it acknowledged that Glassdoor reviews were not always accurate.
Darktrace said it obtained its feedback “from our employees rather than hearsay on Glassdoor” and a recent internal survey showed that “employees are engaged and positive in their views of Darktrace”.
ShadowFall’s previous targets include the publisher Future, fast-fashion retailer Boohoo and German financial technology fraud Wirecard.
It rejected ShadowFall claims that it is being forced to write off more sales in a trend that “should set the proverbial alarm bells ringing”.
Darktrace said: “We disagree that receivables are deteriorating… we suggest that looking at the first half of 2022 when we publish those results in the coming weeks, will give a truer picture.”
The clash threatens to revive City memories of Mr Lynch’s battles with analysts over practices at Autonomy. After the FTSE 100 software provider was acquired by Hewlett-Packard in 2011, it was accused of a massive fraud, which he denies. Mr Lynch is now fighting extradition to the United States and a $5.1bn damages claim, one of the largest ever heard by the High Court.
ShadowFall highlighted dozens of Autonomy staff who have since worked at Darktrace and said it had “cultural concerns” after a review of employee feedback on the website Glassdoor.
It said: “We believe that the quality of the Darktrace business is watery-thin, driven by an aggressive, promotional, sales focus, which we doubt will stand the test of time.” ShadowFall’s claims that Darktrace, valued at £3.1bn, has overestimated its addressable market. The figure of $41bn (£30bn) is cited by its supporters as evidence of massive growth potential.
But the hedge fund argues that as it pursues growth Darktrace is signing up customers at a discount compared with its existing clients. It claimed that the average value of contracts has fallen by 15pc since 2018.
ShadowFall also attacked Darktrace’s customer retention, which it said was significantly worse than industry rivals and deteriorating. It said that more than a quarter of customers may have ended their contracts over the last two years.
Last night Darktrace rejected the criticisms. Its shares surged last week after it upgraded sales forecasts. The company has endured a bumpy nine months since its stock market debut, entering the FTSE 100 before quickly crashing out. Its chief executive, 39-year-old Poppy Gustafsson, argued last week’s update showed Darktrace beginning to prove itself for the long term.
A Darktrace spokesman said that many of ShadowFall’s criticisms were “old and already discredited” and some financial information in the report was inaccurate.
The hedge fund said that Darktrace’s long-term profitability forecasts are a "pipe dream” and would reach only half the target if its research spending matched rivals.
ShadowFall echoed previous concerns raised in the market that the company’s research spending represents a significantly smaller portion of sales than at comparable cyber security providers such as CrowdStrike.
It analysed financial filings from before Darktrace listed and found that following an accounting restatement in 2019 it “suddenly” had 181 fewer employees in research and 145 more in sales than it previously disclosed. It said that the company had not discussed the change in its listing prospectus.
Darktrace said restatements were not uncommon and that the old numbers were “irrelevant”. Darktrace said “it did not need to spend as much on R&D as peers” because it has better technology.
It rejected ShadowFall claims that it is being
https://www.theregister.com/2022/01/05/how_ransomware_went_pro/
https://uk.finance.yahoo.com/news/darktrace-johnson-matthey-ousted-ftse-183420645.html