Francisco Partners and Evergreen Coast Capital Corp own LastPass. They raised prices, and then fumbled security. You had one job guys!
Two interesting takes this, first, Southwest Airlines', Christmas Meltdown Shows How Corporations Deliberately Pit Consumers Against Low-Wage Workers
Our system is set up to create mutual antagonism between members of the working class. Meanwhile, faceless corporate executives remain shielded like mob bosses.
Secondly Ticket Master - to quote one of the comments "In court, Ticketmaster said it had no problem being “Ticket Bastard”. It was part of their offering to the artists, venues and promoters."
I don’t think it’s much of a stretch to extend the logic behind “the ownership and management of software firms by private equity is itself a security risk” to all businesses as a national economic security risk, inasmuch a private equity seems to be the apotheosis of business short-termism. (At least, if you’re so short-term focused that outright looting seems A-OK.)
Also, I ding that FT writer for an absolute failure to understand the threat model under which password managers work via dank phrasing ala “– or remember” and “cumbersome”. The entire point of a password manager is that humans, even those who are statistically *really good* at remembering passwords, are actually terrible at remembering truly strong attack-proof passwords. If your password manager is just holding a bunch of easy-to-remember passwords, it’s *pointless* in the face of real-world threats.
so Francisco Partners and Evergreen Coast Capital Corp. went from extortion of its newly aquired customer base to selling them out to a criminal enterprise. Sounds like something Russia's kleptocrats would engineer.
Correct me if i am wrong here.
If we went back to a 76% max tax on incomes over a certain level, as we had in place for 40yrs before Reagan changed it and Bush, Clinton, Obama and Trump did nothing to reverse it, then there would be almost no incentive for Private Equity bros to do these deals.
Am i correct?
Holy s**t. I always knew last pass was a terrible idea and kept my passwords in KeePass, which is free, open source, and has compatible apps for all platforms including iOS and Mac. But wow.
The encrypted files that were stolen from LastPass are still secure. The decryption key is held on each user’s computer, not by LastPass. Everything else you laid out is a legit problem. But there is no need to change all your saved passwords.
Now once they get quantum computers working (10 - w0 years out), then those files will be very hackable and this’ll be a problem.