The Cyber Landscape Shaping 2024 and Beyond

Insights from Ballistic GP Kevin Mandia

“Cybersecurity has never been more important,” General Partner Kevin Mandia said at a Ballistic event last week. It’s a declaration Kevin said he’s made daily for many years – with growing urgency. 

This historical perspective dates back to Kevin’s time as a computer security officer at the Pentagon in 1993, followed by serving as a computer crime investigator for the U.S. Air Force starting in 1996. Back then, Kevin said attackers could breach government networks by dialing a toll-free number and possessing valid user credentials. Fast forward to the present day, and while defenses have improved, the sophistication and scale of attacks have consistently escalated to make cyberspace the most contested domain globally. Reflecting on his decades of experience, Kevin highlighted several pivotal “shift changes” in the nature of cyber threats.

Regulation drives boardroom attention

One significant shift is the increasing role of regulation. The SEC’s new requirements for public companies – mandating annual cybersecurity reports and stricter governance – have propelled cybersecurity into boardrooms. Executives and directors are paying closer attention, recognizing the financial and reputational stakes of inadequate cyber defenses.

Dependence on technology and its vulnerabilities

Today’s businesses are more dependent on technology than ever. This reliance means that a single breach can paralyze operations, with many organizations lacking a contingency plan to operate without digital tools. Kevin shared examples of companies – for example, restaurants – brought to a standstill because employees weren’t trained to function outside of the digital environment. Not to mention, as people depend more and more on wearable devices for their daily health and welfare, the consequences of security breaches rise. Our dependencies on technology amplify the impact of security incidents, making breaches more disruptive than ever. 

Geopolitical espionage and cybercrime

Global tensions further exacerbate the cyber threat landscape. Kevin pointed to nations like China, North Korea, Iran, and Russia as the primary offenders in state-sponsored cyber espionage. Nearly every nation practices espionage – with cyber attacks as a tool for national gain. Yet, most nations operate without aligning to generally accepted rules of engagement. Simultaneously, cybercrime – driven by financial motives – continues to escalate, with extortion and data breaches becoming increasingly impactful. 

The rise of zero-day exploits

Another trend showing cyber attacks “pay off” for the attackers is the rise in zero-day exploits/ These are vulnerabilities unknown to software vendors and therefore unpatched. For years, 0day exploits numbered between 15 and 20 annually. However, since 2021, the count has surged to nearly 90 per year, fueled by investments from nation-states and the criminal underworld. Zero-day exploits demonstrate the offense’s innovation, underscoring the urgency for the defense to respond in kind.

The path forward

The escalation of cyber threats demands continuous innovation in defense strategies. For entrepreneurs working on new and groundbreaking solutions, reach out to our team.