當(dāng)前，首席信息安全官不僅要確保越來(lái)越分散的員工隊(duì)伍的安全，他們還必須提防一些來(lái)自信譽(yù)良好的供應(yīng)商的軟件代碼，包括一些本來(lái)是用來(lái)保護(hù)他們免受網(wǎng)絡(luò)攻擊的補(bǔ)丁代碼。
一些頂級(jí)安全專家表示，SolarWinds黑客和COVID-19大流行加速了網(wǎng)絡(luò)安全支出。
Not only must chief information security officers secure an increasingly distributed workforce, but they now must also be wary of software code coming from reputable vendors, including the very patches designed to protect them against cyberattacks. Organizations are increasingly prioritizing zero-trust approaches, including simplified identity access management, better endpoint protection and cloud security. And while leading solutions in these sectors are gaining momentum, traditional legacy offerings are being managed down from a spending perspecti當(dāng)前，首席信息安全官不僅要確保越來(lái)越分散的員工隊(duì)伍的安全，他們還必須提防一些來(lái)自信譽(yù)良好的供應(yīng)商的軟件代碼，包括一些本來(lái)是用來(lái)保護(hù)他們免受網(wǎng)絡(luò)攻擊的補(bǔ)丁代碼。企業(yè)現(xiàn)在更加優(yōu)先考慮各種零信任（Zero-trust）方法，包括簡(jiǎn)化身份訪問(wèn)管理、更好的端點(diǎn)保護(hù)和云安全等方法。這些領(lǐng)域的領(lǐng)先解決方案的發(fā)展勢(shì)頭不錯(cuò)，而從支出的角度來(lái)看，傳統(tǒng)的老舊產(chǎn)品則日漸式微。
In this Breaking Analysis, we’ll summarize CISO sentiments from a recent Enterprise Technology Research VENN session and provide our quarterly update of the cybersecurity market. In an upcoming episode we’ll be inviting Erik Bradley of ETR to provide deeper analysis on these trends. Here we’ll give you a first look and initial reading of what’s happening in the information security sector as we kick off 2021.
我們將在本文里總結(jié)一下最近的企業(yè)技術(shù)研究VENN會(huì)議上CISO（首席信息安全官的英文縮寫）的觀點(diǎn)，同時(shí)也將提供我們對(duì)網(wǎng)絡(luò)安全市場(chǎng)的季度更新。我們還將為讀者初步解讀一下2021年頭兩月信息安全領(lǐng)域的態(tài)勢(shì)。
### SolarWinds attack: ‘Like nothing we’ve ever seen’
SolarWinds攻擊：“我們從未見(jiàn)過(guò)這樣的情況”
It’s been covered in the press but in case you don’t know the details, SolarWinds is a company that provides software to monitor many aspects of on-premises infrastructure, including network performance, log files, configuration data, storage, servers and the like. Like all software companies, SolarWinds sends out regular updates and patches. Hackers were able to infiltrate the update and “trojanize” the software — meaning when customers installed the updates, the malware just went along for the ride.
媒體報(bào)道過(guò)SolarWinds攻擊，但假若讀者并不知道細(xì)節(jié)的話，SolarWinds公司提供的軟件用于監(jiān)控企業(yè)內(nèi)部基礎(chǔ)架構(gòu)許多方面的運(yùn)行，包括網(wǎng)絡(luò)性能、日志文件、配置數(shù)據(jù)、存儲(chǔ)、服務(wù)器等等。SolarWinds和所有其他軟件公司一樣也會(huì)定期發(fā)布更新和補(bǔ)丁。而黑客則成功滲透了SolarWinds的更新并植入“木馬”，這意味著客戶在安裝更新時(shí)，植入的惡意軟件就搭上了順風(fēng)車。
The reason this is so insidious is that often hackers will target installations that haven’t installed patches or updates and identify vulnerabilities in the infrastructure that exist as a result. In this case, the very code designed to protect organizations actually facilitated a breach. According to experts, this was quite a sophisticated attack with multiple variants that most believe was perpetrated by the Russian hacker group Cozy Bear, an advanced persistent threat or APT as classified by the U.S. government.
這種情況下的中招很隱蔽，原因是黑客往往會(huì)瞄著那些沒(méi)有安裝補(bǔ)丁或更新的系統(tǒng)，然后找到存在的基礎(chǔ)架構(gòu)漏洞。在這種情況下，用作保護(hù)組織的代碼實(shí)際上還促進(jìn)了漏洞的發(fā)生。據(jù)專家介紹，這次的SolarWinds攻擊屬于高級(jí)攻擊，而且有多個(gè)變種，大多數(shù)人認(rèn)為是出自俄羅斯黑客組織Cozy Bear的手筆。Cozy Bear被美國(guó)政府歸類為高級(jí)持久性威脅，或APT。
It is suspected that somehow they phished their way into a GitHub repo and stole username and password access to allow them to penetrate the supply chain of software that is delivered over the Internet. But public information on this attack is still spotty. What is known is that the attackers had been lurking since March of last year and had nine months to exfiltrate troves of data from the U.S. government and numerous other companies, including Microsoft Corp. and Cisco Systems Inc.
據(jù)推測(cè)，Cozy Bear是以某種釣魚方式進(jìn)入一個(gè)GitHub庫(kù)并竊取了用戶名和密碼訪問(wèn)權(quán)限，進(jìn)而滲透到經(jīng)互聯(lián)網(wǎng)交付的軟件供應(yīng)鏈里。但關(guān)于這次攻擊的公開信息還是很零散。已經(jīng)知道的信息是攻擊者去年3月就潛伏下來(lái)，在9個(gè)月的時(shí)間從美國(guó)政府和眾多其他公司（包括微軟公司和思科系統(tǒng)公司）那竊取了大量數(shù)據(jù)。
### What CISOs say about the attack
CISO們對(duì)SolarWinds攻擊的看法
Last year, right after the attack, friend of theCUBE Val Bercovici of Chainkit said to us on Twitter that he thinks the government hack will have permanent implications on how organizations approach cybersecurity. CISOs seem to agree. Here are some verbatim comments from the CISO roundtable moderated by ETR in late January:
去年我們的CUBE朋友 Val Bercovici of Chainkit在攻擊發(fā)生后發(fā)給我們的推特消息表示，他認(rèn)為政府被黑將對(duì)以后組織如何對(duì)待網(wǎng)絡(luò)安全產(chǎn)生永久性影響。CISO們似乎都同意這個(gè)觀點(diǎn)。以下是1月底由ETR主持的CISO圓桌會(huì)議上的一些評(píng)論原文。
> The impact of the breach is profound. It really turned on its head a lot of conventions about cybersecurity.… I don’t think the threat has been exaggerated in the media.
- 這次泄露的影響是深遠(yuǎn)的，真的顛覆了很多關(guān)于網(wǎng)絡(luò)安全的慣例，我不認(rèn)為媒體夸大了威脅。
- > We’re now in a situation where we have to monitor the monitors.我們現(xiàn)在所處的情況是，我們必須監(jiān)控那些監(jiān)控機(jī)構(gòu)。
- > This attack didn’t have any signatures of a previous attack… so you got down to the code level.這次攻擊不具有任何過(guò)去攻擊的特征……所以是到了代碼層面。
- > 80-90% of that code is being downloaded from the internet…. It’s bringing DevOps security processes and making us rethink how to reinvent security.那些代碼的 80-90%都是從網(wǎng)上下載的……。事關(guān)DevOps安全流程，我們得重新思考如何重塑安全。
### What can be done?
可以做什么？
That’s the question every CISO is wrestling with right now. Security pros will tell you they’re rethinking their practices, tools and approaches, but there’s no one answer.
這是每個(gè)CISO現(xiàn)在都在糾結(jié)的問(wèn)題。安全專家會(huì)告訴你，他們正在重新考量自己的實(shí)踐、工具和方法，但沒(méi)有答案。
Below is a tag cloud summarizing some of what we hear in theCUBE community and in the VENN roundtable from security practitioners:
下圖是個(gè)標(biāo)簽云，總結(jié)了我們?cè)贑UBE社區(qū)和VENN圓桌會(huì)議上從安全從業(yè)者那里聽到的一些情況。
You hear CISOs talk a lot about zero trust and many are leaning into identity access management and PAM, privileged access management. We’re hearing mandates around two factor authentication. We’ve written extensively about identity and firms such as Okta Inc., Sailpoint Technologies Inc. and CyberArk Software Inc. And Microsoft is coming up more and more in this conversation, especially as Okta is seen as setting a price umbrella – there’s definitely some frustration there among CISOs. Auth0, which does authentication as a service, is hitting our radar as well.
可以聽到CISO們經(jīng)常談?wù)摿阈湃螜C(jī)制，許多人都在傾向于用身份訪問(wèn)管理和特權(quán)訪問(wèn)管理，即PAM。我們也聽到關(guān)于必須用雙因素認(rèn)證的說(shuō)法。我們過(guò)去寫過(guò)大量關(guān)于身份和公司的文章，如Okta公司、Sailpoint技術(shù)公司和CyberArk軟件公司。微軟在這場(chǎng)對(duì)話里出現(xiàn)得越來(lái)越多了，尤其是業(yè)界認(rèn)為Okta設(shè)置了一個(gè)價(jià)格保護(hù)傘，CISO們肯定會(huì)有一些沮喪。Auth0是個(gè)做身份驗(yàn)證即服務(wù)的公司，Auth0也出現(xiàn)在我們的雷達(dá)上。
Endpoint security, of course, gets attention as the work-from-home trend has become much more important. You can see it in the growth of CrowdStrike Holdings Inc. and as you’ll see in a moment we’re seeing some traction with VMware Inc. and Carbon Black in the ETR survey data as well as momentum with Tanium Inc.
當(dāng)然，端點(diǎn)安全受到關(guān)注，在家工作的趨勢(shì)已經(jīng)變得更加重要。從CrowdStrike Holdings Inc.的增長(zhǎng)中可以看到這一點(diǎn)，過(guò)一會(huì)兒就可以看到，從ETR調(diào)查數(shù)據(jù)中可以看到VMware和Carbon Black以及Tanium的發(fā)展勢(shì)頭。
CISOs aren’t going to just rip out what they have so Cisco, especially with Umbrella and Duo, come up in the conversation. As does Palo Alto Networks Inc. We’ve said many times that they’re seen as a thought leader and CISOs like Palo Alto as well as Fortinet Inc. Fortinet buyers tend to be more cost conscious and often midmarket customers.
CISO們不會(huì)隨便摘掉自己的東西，所以思科（尤其是Umbrella和Duo）出現(xiàn)在談話中。還有Palo Alto Networks公司。我們說(shuō)過(guò)很多次，他們被視為思想領(lǐng)袖，CISO們喜歡Palo Alto以及Fortinet公司。Fortinet買家往往更注重成本，他們往往是一些中等市場(chǎng)客戶。
And so it goes with analytics and micro segmentation and cloud security with Zscaler Inc. and even robotics process automation to automate certain tasks; UiPath Inc. has come up in the conversation more and more in a security context.
分析和微觀細(xì)分市場(chǎng)方面、云安全方面的Zscaler公司也是這樣，甚至實(shí)現(xiàn)某些任務(wù)自動(dòng)化的機(jī)器人流程自動(dòng)化公司。UiPath公司 出現(xiàn)在談話中，還有更多的公司也是在安全場(chǎng)景下出現(xiàn)。
So you look at this tag cloud above and there’s no one answer – as is the case with cyber – lots of tools, lots of disciplines and a very capable adversary who has learned to, as the saying goes, “live off the land,” using your own infrastructure and tooling against you.
因此，看了上面的這個(gè)標(biāo)簽云后，沒(méi)有答案，網(wǎng)絡(luò)這一塊也一樣，很多工具，很多學(xué)科，還有一個(gè)非常有力的對(duì)手，已經(jīng)學(xué)會(huì)了俗話說(shuō)的"靠天吃飯"，學(xué)會(huì)了用自己的基礎(chǔ)架構(gòu)和工具來(lái)對(duì)付你。
### Security budgets are not limitless
安全預(yù)算并非無(wú)限
The common narrative is that security is a top priority with CIOs and CISOs and budgets will be up. Boards of directors are aware and willing to spend. So let’s look at that.
比較一致的說(shuō)法是，安全是CIO和CISO的重中之重，預(yù)算會(huì)增加。董事會(huì)意識(shí)到了重要性也愿意花費(fèi)。那我們就來(lái)看看這一點(diǎn)。
The fact is this is only somewhat true. The chart above shows Net Scores or spending momentum for various sectors across the ETR taxonomy and we’ve highlighted the Information Security segment. Yes, it’s up relative to the October survey, but it doesn’t stand out.
事實(shí)是，只是在某種程度上是這樣。上圖顯示了整個(gè)ETR分類里各行業(yè)的凈得分或支出的趨勢(shì)，我們高亮了信息安全板塊。是的，相對(duì)于10月份的調(diào)查，安全板塊的支出是上升了，但并不突出。
Everything’s up, as we’ve reported, coming off a down year in tech spending – minus 4% – and we’re forecasting a plus 6% to 7% increase this year depending on the pace of the recovery. But the point is cyber is one of many budget items and organizations aren’t simply writing a blank check to the CISO.
一切都在上升，就像我們所報(bào)道過(guò)的，前一年的科技支出下降，是負(fù)4%，我們預(yù)測(cè)今年會(huì)有正6%到7%的增長(zhǎng)，取決于復(fù)蘇的速度。但問(wèn)題是，網(wǎng)絡(luò)是眾多預(yù)算項(xiàng)目里的一項(xiàng)，組織并不是簡(jiǎn)單地給CISO一張空白支票。
### Firms are heavily invested in security already
一眾公司已經(jīng)在安全方面做了大量投資。
The graphic above shows several sectors in context and we’ve highlighted security in the red box. The vertical axis shows Net Score or spending velocity and the horizontal axis is Market Share or presence in the data set. And you can see that security has a big presence – it’s pervasive, of course.
上圖顯示了幾個(gè)行業(yè)的場(chǎng)景，我們用紅框標(biāo)出了安全�？v軸顯示的是凈得分或支出速度，橫軸是市場(chǎng)份額或在數(shù)據(jù)集中的位置�？梢钥吹剑踩奈恢煤芸坑�，當(dāng)然，安全無(wú)處不在。
But it lags some of the top sectors in terms of spending velocity because organizations have lots of priorities. And of course as you’ll see below, like most mature markets, security has some companies with off the charts spending patterns and others that lag.
但安全在支出速度上卻落后一些頂級(jí)行業(yè)，因?yàn)榻M織有很多的優(yōu)先事項(xiàng)。當(dāng)然，正如在下面將要看到的那樣，安全領(lǐng)域也和大多數(shù)成熟市場(chǎng)一樣，有些公司在這方面的支出爆棚，也有一些公司的支出模式落在后面。
#### Vendors in identity, endpoint and cloud have spending momentum
身份識(shí)別、端點(diǎn)和云計(jì)算領(lǐng)域廠商具消費(fèi)動(dòng)力
Below you see that same XY graphic and we’ve plotted a number of selected security players:
下圖是同樣的XY坐標(biāo)圖，列出了一些選定的安全玩家的數(shù)據(jù)。
Several points stand out from the above data:
從上圖可以看出幾點(diǎn)。
* First **Microsoft** , as usual, is off the charts to the right and amazingly, has an elevated Net Score of 48%.
- 首先，微軟一如既往，遠(yuǎn)遠(yuǎn)地拋開其他商家處于圖右邊，令人驚奇的是，凈得分也提升了48%。
* **Okta** continues to lead this pack as it has in the last several surveys with a Net Score of 61.5%, up from last quarter’s survey.
- Okta在過(guò)去幾次調(diào)查里一直處于領(lǐng)先地位，凈得分為61.5%，比上一季度的調(diào)查凈得分高。
* Okta, **Crowdstrike** , **CyberArk** , **Fortinet** , **Proofpoint** and **Splunk** , all up nicely from last quarter’s survey.
- Okta、Crowdstrike、CyberArk、Fortinet、Proofpoint和Splunk均比上一季度調(diào)查的凈得分有很好的增長(zhǎng)。
* Also we want to highlight **Carbon Black**. The company’s Net Score last quarter was 23.9% with 134 mentions and this quarter its Net Score shot up to nearly 38% — a meaningful and noticeable move for VMware’s $2.1 billion acquisition that it made in the summer of 2019.
- 我們還要特別提一下 Carbon Black。該公司上個(gè)季度的凈得分為23.9%，被提及134次，本季度的凈得分飆升至近38%。VMware在2019年夏天花21億美元收購(gòu)Carbon Black，這樣明顯的增長(zhǎng)也是不負(fù)這次的收購(gòu)。
So we see a number of companies with momentum, which stems from a rebound in tech spending generally but also the shift in security spend that we’ve highlighted. And you can see a couple of legacy security firms losing spending momentum – FireEye Inc. and RSA in particular, but there are many others in the ETR data set that are in the red zone.
我們看到了一些公司的好勢(shì)頭，一方面是源于科技支出的普遍反彈，但也源于我們強(qiáng)調(diào)提出的安全支出的轉(zhuǎn)變。我們也可以看到有幾家傳統(tǒng)安全公司失去了支出動(dòng)力，尤其是FireEye公司和RSA公司，但在ETR數(shù)據(jù)集中還有許多其他公司也處于紅色區(qū)域。
### Microsoft, Palo Alto Networks, Okta and CrowdStrike: notable momentum and market presence
微軟、Palo Alto Networks、Okta和CrowdStrike：顯著的好勢(shì)頭和市場(chǎng)位置。
Let’s dig deeper into the data and the vendor performance.
下面我們來(lái)深入了解一下數(shù)據(jù)和廠商的表現(xiàn)。
Below is a view of the data we first showed you in 2019. The tables depict the Net Score (spending velocity) and the Shared N which identifies the number of mentions within the sector and is an indicator of presence in the market. The leftmost chart is sorted by Net Score and the right hand chart is sorted by Shared N. To make the cut and get into this chart, we required a vendor to have had at least an N of 50 mentions in the sector within the survey.
下表是我們?cè)?019年首次展示的數(shù)據(jù)視圖。這張表顯示了凈得分（支出速度）和分享N指標(biāo)，分享N指標(biāo)表示在業(yè)界被提及的次數(shù)，是個(gè)市場(chǎng)存在指標(biāo)。左邊的表是按凈得分排序，右邊的表按分享N指標(biāo)排序，入選被考慮之列并出現(xiàn)在圖表里的供應(yīng)商在調(diào)查時(shí)間范圍內(nèi)至少在業(yè)內(nèi)被提及50次。
You can see on the leftmost chart that Okta (61.5%) and Sailpoint (59.5%) lead in Net Score and Microsoft has the largest presence in the sector (518 Shared N) along with Cisco (305) and Palo Alto (278).
可以從左邊的表看到，Okta（61.5%）和Sailpoint（59.5%）在凈得分上領(lǐng)先，微軟在業(yè)界的存在指標(biāo)數(shù)最大（518共享N），思科（305）和Palo Alto（278）排第二、第三。
#### Four-star and two-star companies
四星級(jí)公司和兩星級(jí)公司
Something we started two years ago was if a vendor shows up in the top 10 for both Net Score and Shared N, we anoint them with four stars. So **Microsoft** , **Palo Alto** , **Okta** and **CrowdStrike** are the four cybersecurity vendors that fall into the four-star group.
我們?cè)趦赡昵伴_始用星級(jí)評(píng)等方法，如果一家廠商的凈得分和分享N指標(biāo)都出現(xiàn)在前十名，我們就會(huì)給四顆星。所以微軟、Palo Alto、Okta和CrowdStrike四家都是四星級(jí)網(wǎng)絡(luò)安全廠商。
And we give two stars to those companies that make the top 20 in both categories. So **Cisco** because of Umbrella and Duo, **Splunk** , **Proofpoint** , **Fortinet** , **Zscaler** , **CyberArk** and **Carbon Black** (now owned by VMware). Carbon Black is new to the two-star list thanks to its rapid rise in Net Score.
而那些在這兩個(gè)類別中進(jìn)入前20名的公司則獲得兩顆星。Cisco（由于Umbrella和Duo的關(guān)系）、Splunk、Proofpoint、Fortinet、Zscaler、CyberArk和Carbon Black（現(xiàn)屬VMware）都是兩星級(jí)網(wǎng)絡(luò)安全廠商。Carbon Black由于凈積分的快速上升成為兩星榜單新廠商。
#### A quick aside on Carbon Black
關(guān)于Carbon Black的一個(gè)小插曲
At VMworld 2019, Pat Gelsinger told theCUBE that he felt like he got a great deal picking up Carbon Black for $2.1 billion.
在2019年的VMworld活動(dòng)上，Pat Gelsinger告訴theCUBE，他覺(jué)得花21億美元的價(jià)格拿下Carbon Black是一筆好的大買賣。
His logic was in part based on the valuation of CrowdStrike, a Carbon Black competitor. At the time CrowdStrike, as you can see on the chart below, had a valuation that was nine times higher than that of Carbon Black. And you can see from the trailing-12-month revenue that CrowdStrike was a bigger company by more than $100 million, but the real story was the company’s growth at more than 100%. CrowdStrike at the time was growing much faster than Carbon Black’s 22%, justifying a significantly higher relative value.
他這樣說(shuō)的邏輯一部分是基于Carbon Black競(jìng)爭(zhēng)對(duì)手CrowdStrike的估值。CrowdStrike當(dāng)時(shí)的估值（如下圖）是Carbon Black的9倍。而且可以從尾部12個(gè)月的營(yíng)收里看到，CrowdStrike是一家規(guī)模更大的公司，營(yíng)收比Carbon Black高一億多美元，但故事的核心是CrowdStrike的增長(zhǎng)達(dá)100%。CrowdStrike當(dāng)時(shí)的增長(zhǎng)速度遠(yuǎn)高于Carbon Black的22%，證明其相對(duì)價(jià)值明顯更高。
Of course, the thinking from VMware was that it could pick up Carbon Black at a discount to the market leader and inject growth and profitability into the asset by bundling into VMware’s increasingly capable security offerings. VMware created a cloud security group headed by Carbon Black Chief Executive Patrick Morley, which underscores a commitment to the sector.
當(dāng)然，VMware的想法是可以以低于市場(chǎng)領(lǐng)導(dǎo)者的價(jià)格折價(jià)收購(gòu)Carbon Black，然后通過(guò)將其捆綁到VMware日益強(qiáng)大的安全產(chǎn)品上為該資產(chǎn)注入增長(zhǎng)和盈利能力。VMware創(chuàng)建了一個(gè)由Carbon Black首席執(zhí)行官Patrick Morley領(lǐng)導(dǎo)的云安全集團(tuán)，凸顯了在該領(lǐng)域的承諾。
Now in VMware’s recent earnings call, it said Carbon Black had “good” bookings performance. Who knows exactly what that means, but if it were significantly more than 22% (Carbon Black’s growth rate at acquisition time), our guess is that VMware would have been more effusive. So let’s assume that since the acquisition Carbon Black growth has been flattish relative to its growth at acquisition as VMware figures out how to integrate the company.
VMware在最近的財(cái)報(bào)電話會(huì)議上表示，Carbon Black的預(yù)訂表現(xiàn) "良好"。誰(shuí)都不知道這到底是什么意思，但如果增長(zhǎng)率明顯超過(guò)22%（收購(gòu)時(shí)Carbon Black的增長(zhǎng)率是22%），我們猜VMware的溢美之詞可能會(huì)更夸張一些。我們不妨假設(shè)自收購(gòu)后，Carbon Black的增長(zhǎng)相對(duì)于收購(gòu)時(shí)的增長(zhǎng)更趨向于平緩，VMware在這一段時(shí)間不是在想辦法整合這個(gè)公司嘛。
Nonetheless, we would still peg its valuation as having increased substantially since the time of acquisition – perhaps in the $3 billion-to-$5 billion range. So it’s a nice pickup for VMware in our view, which has a good track record of acquiring companies and monetizing the assets. And we think the value of Carbon Black inside of VMware will likely grow from here. Further, the ETR data on Carbon Black is encouraging.
盡管如此，我們?nèi)詴?huì)認(rèn)為Carbon Black的估值自收購(gòu)時(shí)起已大幅上升了，或許在30億至50億美元之間。所以在我們看來(lái)，對(duì)VMware而言是宗不錯(cuò)的收購(gòu)，VMware在收購(gòu)公司及將資產(chǎn)貨幣化方面有良好的記錄。而且我們認(rèn)為，置于VMware內(nèi)部的Carbon Black的價(jià)值可能會(huì)從這里開始增長(zhǎng)。此外，Carbon Black的ETR數(shù)據(jù)也令人鼓舞。
### Cybersecurity valuations continue to skyrocket for the leaders
領(lǐng)軍企業(yè)的網(wǎng)絡(luò)安全估值持續(xù)飆升
Let’s look at how the valuations in this sector have changed since before COVID.
我們來(lái)看看自新冠以來(lái)這個(gè)行業(yè)的估值是如何變化的。
Above is an updated view of our valuation matrix since just before the pandemic hit the U.S. in earnest. You can see the S&P is up 16% from that timeframe and the Nasdaq composite up 43%. Now look at the others. Only Splunk really hasn’t seen a big uptick in valuation. And Proofpoint’s valuation hasn’t kept pace. But the others have either risen noticeably, such as CyberArk and SailPoint, bounced up such as Palo Alto, held nicely such as Fortinet or exploded as with Crowdstrike, Okta and Zscaler.
上表是我們的估值矩陣最新視圖，時(shí)間段為自美國(guó)爆發(fā)新冠大流行病前夕以來(lái)。可以看到，標(biāo)準(zhǔn)普爾指數(shù)比那個(gè)時(shí)間段上漲了16%，納斯達(dá)克綜合指數(shù)上漲了43%�，F(xiàn)在來(lái)看看其他的股票。只有Splunk的估值真的沒(méi)有大的提升。Proofpoint的估值也沒(méi)有跟上。但其他公司要么漲幅明顯，如CyberArk和SailPoint，要么反彈上漲，如Palo Alto，要么保持良好，如Fortinet，要么大爆發(fā)，如Crowdstrike、Okta和Zscaler。
So one would think Carbon Black as a VMware asset has done pretty well along with these names and will make long-term contributions to VMware.
那大家會(huì)大致會(huì)覺(jué)得VMware的資產(chǎn)Carbon Black也會(huì)和這些公司一樣做得很好吧，會(huì)對(duì)VMware做出長(zhǎng)期的貢獻(xiàn)。
In addition, we would expect that the tech spending rebound this year combined with the heightened concerns over the SolarWinds hack and the tectonic shifts from the accelerated work-from-home and digital business transformation will continue to bode well for many of these names… for some time.
此外，我們預(yù)計(jì)，由于今年科技支出的回升，加上對(duì)SolarWinds黑客事件的高度關(guān)注以及從在家工作和數(shù)字化業(yè)務(wù)轉(zhuǎn)型構(gòu)造性轉(zhuǎn)變的加速，這些公司將持續(xù)向好......在一段時(shí)間內(nèi)。
### Factors to watch in cyber
網(wǎng)絡(luò)方面的關(guān)注因素
As we exit the pandemic and are experiencing a new digital reality, cyberthreats have never been greater. Each January if you looked back on the prior year you’d be able to say the same thing for the past several decades. And the reality is that the budget allocations and subsequent spending on cyber are asymmetric to the economic risks. In other words, the $125 billion or so spent on cybersecurity doesn’t square with the trillions of dollars in value lost each year to cybercrime. We don’t spend enough as it is and probably can’t spend our way out of this problem.
我們退出大流行，同時(shí)也在經(jīng)歷一個(gè)新的數(shù)字現(xiàn)實(shí)，這時(shí)的網(wǎng)絡(luò)威脅空前嚴(yán)重。每年的一月，如果回顧上一年的情況，我們就會(huì)說(shuō)出和過(guò)去幾十年同樣的話。而現(xiàn)實(shí)情況是，網(wǎng)絡(luò)預(yù)算分配和后續(xù)支出與經(jīng)濟(jì)風(fēng)險(xiǎn)是不對(duì)稱的。換句話說(shuō)，1250億左右的美元花在網(wǎng)絡(luò)安全上，每年因網(wǎng)絡(luò)犯罪而損失達(dá)數(shù)萬(wàn)億美元的價(jià)值，二者并不對(duì)等。我們現(xiàn)在花的錢還不夠多，但可能也無(wú)法靠花錢解決這個(gè)問(wèn)題。
CISOs have to balance their legacy installed base security infrastructure with the shift to zero-trust, accelerated endpoint, new access management challenges and an ever-expanding cloud. And much more. Very few have the benefit of a blank sheet of paper.
CISO們必須平衡在自己的傳統(tǒng)安裝基礎(chǔ)安全基礎(chǔ)架構(gòu)以及向零信任的轉(zhuǎn)變、加速端點(diǎn)、新的訪問(wèn)管理挑戰(zhàn)和不斷擴(kuò)展的云之間取得平衡。還有做更多的事情。很少有人能夠像一張白紙一樣沒(méi)有過(guò)去的包袱。
Lack of talent remains the single biggest challenge for organizations, which are stretched thin — making investments in automation a trend that is not going to abate any time soon.
人才的缺乏仍然是企業(yè)面臨的最大挑戰(zhàn)，企業(yè)已經(jīng)捉襟見(jiàn)肘了，因此在自動(dòng)化上的投資就成為一種趨勢(shì)，這種趨勢(shì)是不會(huì)在一段時(shí)間內(nèi)減弱的。
In cyber, all the cliches apply: There is no silver bullet. There is no rest for the weary. The adversaries are well-funded and extremely capable and they have to succeed only once to create a business disaster for an organization, whereas an organization must succeed every minute of every day. So expect more of the same with no end in sight in terms of complexity, fragmentation and Whac-A-Mole approaches to fighting cyber crime.
在網(wǎng)絡(luò)方面，各種陳詞濫調(diào)仍然有效：不存在靈丹妙藥。無(wú)暇喘息，仍要疲于奔命。對(duì)手的資金充足，能力也極強(qiáng)，他們只需成功一次，就能給一個(gè)組織帶來(lái)商業(yè)災(zāi)難，而一個(gè)組織每時(shí)每刻都必須成功。因此，準(zhǔn)備好應(yīng)付更多相同情況的出現(xiàn)，打擊網(wǎng)絡(luò)犯罪時(shí)的復(fù)雜性、分散性和“打地鼠”（Whac-A-Mole）法等等都是沒(méi)有盡頭可言的。
It hurts to say this, but it just means the fundamentals for this sector just keep getting better. That’s bad news, but it’s the reality for organizations trying to protect their data — and it’s good news with lots of opportunities for investors.
這樣說(shuō)很痛苦，但這樣說(shuō)只是意味著這個(gè)行業(yè)的基本面正在不斷改善。而對(duì)于試圖保護(hù)自己數(shù)據(jù)的組織來(lái)說(shuō)，這就是現(xiàn)實(shí)。而這對(duì)投資者來(lái)說(shuō)是個(gè)好消息，機(jī)會(huì)多多。
第3期 2021/02/26
