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CrowdStrike is sued by shareholders over huge software outage
(www.reuters.com)
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this post was submitted on 01 Aug 2024
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Good make them pay
While I'm all for holding CS accountable for what happened, thisis not the way how to do it and to whom they should be accountable. If there's any lawsuit, it should come from the customers who have been affected by the outage, not some fucking investors and shareholders that probably kept pressuring CS for the last several years to reduce costs and increase revenue, that are now scrambling to avoid consequences of their endless greed ruining companies they don't care about by forcing endless growth at all costs and doing as much as they can to prevent internal investments, because that's not what makes the line go up.
Fuck them. I hope they loose and have to eat their losses + expensive lawsuit. If CS would be able to actually invest their revenue internally, instead of it feeding pockets of greedy investors who give literaly zero fucks about the product or the service, this may not have happened.
I saw that happen at the cybersecurity company I was working at, when we got acquired by investors. Several milion of profit after costs suddenly wasn't enough, and we had to reduce already non-existent internal projects or investments, that we have already been lacking to be able to do our job properly.
I think upon closer inspection you might find that CS'es primary duty is upholding the interests of its shareholders, not the customers.
I'm sure there's a lot of CS employees that would disagree with that, unfortunately there's probably not much they can do about it.
I was just a few days ago giving my two weeks notice exactly for that reason. I'm getting so fed up with capitalism and companies working for the vultures who give zero fucks about what you do or whether you do it well or not, prioritizing profits over actually doing your job well. I don't care about money, I worked in cybersec out of principle, to help people with their security. I don't really care about money, as long as there's job to be done for someone, I don't really care if the project I'm working on is super profitable for me, as long as it at least breaks even. But no, we had to cut corners, basically scam our customers by selling products we had no qualified people for who barely scraped by enough results for the customer to not notice it. Non-existent R&D or training, because several milions of anuall profit are not enough. Fuck all of them, if I'm ever going to work again in cybersec, it will be a non-profit.
This OP's article infuriates me, the nerves they have to demand more money for what's entirely their failure, which they also directly cause in every company they touch. I'm sure that the fact that the failure was so devastating for most companies is also by large margin fault of their investors, some of which are probably also part of this lawsuit, that blocked investment into disaster recovery plans or backups, because their millions of profit per year felt low.
I feel like I'm getting pretty radicalized recently, ugh.
Joking aside, this place is actually pretty central, politically. It's the rest of the world that went on a capitalist assholes spree.
(Edit: and honestly, I suspect we will learn there's a lot of billionaire-funded bots making us feel like the world's opinions changed.)
"Let's just accept each other's pronouns while holding billionaires accountable for their actions" shouldn't be considered radical ideas, at all.
And yeah, fuck all of these investors. They're effectively suing the real workers who were left holding the bag after the investors "line go up forever" bullshit came to roost.
I have no objections to your view for how things should be. It's definitely not how they are and I think it's important for people to realize what the reality is for any change to happen.
This is presumably part of what would be at issue in court. The shareholders are claiming they were lied to. We'll see how that holds up.
I really hope that CS will come up with recipes and emails where the board specificly "strongly recommended" that they reduce operation costs or denied internal investments. It probably won't happen, because such pressure from investors is usually pretty vague, i.e they don't literally tell you to cut corners, but they strongly suggest that if you won't somehow increase revenue, you (the management) will have problems. Of course, it's up to you how you do it, but to meet their often unrealistic demands, just doing a better job while also investing into internal failsafes is often simply not possible. It's a loss-loss situation for CS, but I really hope they won't loose this legal battle.