The state of venture capital and cybersecurity startups.

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DataTribe today released a report detailing the state of cybersecurity startups and investments this quarter.

DataTribe today released a report detailing the state of venture capital investments and cyber startups in Q3 2022.

Transaction activity.

Venture capital activity is down, overall, and continues to decline over the years. The exception, DataTribe found, is cybersecurity investment activity, which grew 37.5% from 24 to 33 deals year-over-year. Overall, cybersecurity activity was down just 3.3% year-over-year, compared to a 23.7% decline in other verticals.

The Twitter Whistleblower.

The report discusses the case of Peiter “Mudge” Zatko, a former Twitter employee who filed a report with the SEC about security practices on Twitter. Zatko has been in the cybersecurity industry for a long time, having testified before Congress in the late 90s on cybersecurity issues. Zatko eventually joined the Twitter team and discovered that they were more lax on cybersecurity than he thought the company should be. “Many Twitter engineers took the position that security measures were making their lives difficult and slowing people down,” Twitter engineer Edwin Chen was quoted in The Washington Post as saying. This difference in the handling of the situation led to the dismissal and reporting of Zatko.

The report says it is likely, following the large amount of uncertainty and stress on Twitter between Zatko’s report and Elon Musk’s bids for the company, that a large number of Twitter employees will leave. , inducing a period of high security risk.

Storage of trade secrets.

The report discusses recent breaches by Uber and the Veterans Administration, saying company secrets were simply “left out.” Lack of organization in managing corporate secrets, as well as identification, is a problem for IT in different organizations. It is very important to know where company information is stored and to ensure that it is not hard-coded in software or left on file servers.

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