Cybersecurity & Recession
How are cybersecurity start ups like Lacework and Sysdig in an economic downturn? Is it too risky?
I can chime in I think. They are heavily dependent on enterprise budgets. If those budgets get slashed, enterprises cut costs and reduce their dependence on vendors that provide cybersecurity services, amongst others. This would lead to reduced business for cybersecurity companies.
Would appreciate any internal employee chime in. How is the sales trending? Any red flags being discussed?
Last quarter was a dip. But it doesn’t spell doom and gloom yet.
Especially looking for lacework.
I do not come from cyber security industry, hence do not know much about lacework product and its adoption, success with clients. If it's truly an awesome product with not much competition or not. That could tell a bit about stickiness of business and future robustness during recession .
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While it’s true that recessions will reduce enterprise spend, spending on cybersecurity will likely be less affected. Traditionally it had been one of the first budget items slashed but with compliance frameworks getting significantly more rigorous and the US Govt pushing for heightened security in the private sector (see latest push on forcing CISO’s on to boards), I’m confident the industry will prove more resilient than other verticals. Look at the exponential increase in ransomware and state sponsored hacking.
Lacework got huge funding and they are treating candidate like shit. I’ve gone through multiple interviews and then they ghosted me. This for a role in the Security team. I’d name the interviewers here but I think it’s against Blind policy. Just look up the Security folks in LinkedIn that were hired in the last 1 year or so.
How is Sysdig? Assuming since you’re trying to leave it’s not great there either. Got a (non-tech) interview at Sysdig for a finance role next week
I'm at sysdig and I love it. Pm if you want to chat more
Sysdig is great. I’m a current employee. Lacework just had 300 people laid off from a team of 800. Lacework has horrible reputation and I feel as if I work with intelligent people at Sysdig who really want to build a cohesive security product for its customers. Although we are competition driven, it’s for a good measure and the CEO, Suresh, is doing a fantastic job at being transparent with its employees during these uncertain times with how the numbers are looking. I can DM specifics more…
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