💽 The plan to stop ransomware

PLUS: New toothpaste technology.. May 25, 2021 [The Hustle] [The Hustle]( Remember the “Charlie Bit My Finger” video? The family behind the viral YouTube hit auctioned it off as an NFT for $760k+. Yep, 2021. The big idea [ransomware]( America’s massive ransomware problem, explained “A cybercriminal only has to be lucky once, while a defender has to be lucky every minute of every day.” That’s from a recent [report]( on ransomware by the Institute for Security and Technology (IST) -- basically The Avengers of cybersecurity. Ransomware is a malware that demands ransom in exchange for decrypting files or to prevent the sharing of stolen data. As inconveniences go for IT departments, it’s numero uno. And the problem is only getting worse Ransomware attacks are increasingly common. Some of the latest include: - The Colonial Pipeline: This month hackers were paid [$4.4m]( to restore systems to the operator of a gas pipeline that supplies ~45% of the East Coast - CNA Financial: The insurance company paid [$40m]( in March to free itself from a ransomware attack In 2020, ransomware victims coughed up a total of $350m (311% more than 2019). Ransomware is a pain in society’s ass Pretty much every institution is a target: - Public health: An October attack on the University of Vermont Medical Center cost ~$64m - Local governments: A May 2019 attack on Baltimore cost $18.2m and took out the city’s 911 dispatch system - Schools: 57% of all attacks in August and September 2020 were on K-12 schools The average downtime from an attack is 21 days. Even after paying a ransom, it takes an average of 287 days to fully recover. But the IST has a plan The group’s report outlines a plan to turn the tide in the ransomware fight. A key recommendation is better coordination between agencies within the United States (e.g., National Security works closely with a new cyber security agency) and with similar groups in other nations. Seems simple (it’s not). You can read more about each step [here](. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=America%E2%80%99s+massive+ransomware+problem%2C+explained%0Ahttps%3A%2F%2Fthehustle.co%2F05252021-ransomware%3Futm_campaign%3Dransomware%26utm_content%3D05252021-ransomware%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( SNIPPETS NEW! Introducing our new and improved [Snippets](. You can now get extra snippets on your favorite topics. Follow the button below to get started. Media ratings firm Nielsen is building a new platform ([Nielsen One]() to measure TV audiences. The key change: the integration of streaming data into traditional TV viewership analytics. Great news: America is near a new milestone with its battle against COVID. The CDC says nearly half ([~49%]() of the population has received at least one vaccine shot. Leonardo DiCaprio and Robert Downey Jr. are both in on this project, but it’s not a movie. The 2 mega-Hollywood stars are investors in Aspiration, a fintech startup focussed on green finance that is thinking about an [IPO](. Join the 32,530 others who are now enjoying extra, personalized snippets. Click the button👇 to choose your favorite topics and see your list grow in tomorrow’s email. [Personalize Your Snippets]( Asia Tech [Indonesia map]( Don’t let this fool you, Indonesia is made up of 17k+ islands! (Source: Getty Images / Encyclopedia Britannica) Indonesian farm-to-consumer app harvests $65.5m It turns out Stardew Valley isn’t the only farming app people love. TaniHub Group, an Indonesian startup that connects farmers to customers, just announced $65.5m in Series B funding, per [TechCrunch](. Founded in 2016, the agtech startup currently hosts 45k+ farmers and 350k buyers, including restaurants and stores. The business model is straightforward... … and consists of 3 parts: - TaniHub, its ecommerce platform, where farmers and customers meet - TaniSupply, which fulfills orders across 6 warehouses - TaniFund, which provides loans to farmers that they repay via TaniHub sales Increased demand for online groceries during the pandemic led to a 6x YoY sales increase in 2020. What’s next for TaniHub? CEO Eka Pamitra says it will use the new funding to beef up its supply chain and improve its supply-demand forecast model to help farmers plan ahead. It will also expand across Indonesia -- the world’s 4th-most-populated country ([275m+]( people) -- where a fragmented market and too many middlemen [hurts]( farmers and consumers alike. Farm-to-consumer is ripe right now: - Secai Marche, a Japanese platform that connects farmers to chefs, restaurants, and consumers, [raised]( $1.5m. - Harvie.Farm lets people [purchase]( customized community-supported agriculture (CSA) boxes online. - Barn2Door CEO Janelle Maiocco told [The Wall Street Journal]( that ~50% of the farms on its platform sold out of stock in 2020 as home cooking and online shopping boomed. At this rate, investors may be harvesting some gains soon (sorry). [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Indonesian+farm-to-consumer+app+harvests+%2465.5m%0Ahttps%3A%2F%2Fthehustle.co%2F05252021-Indonesian-farm-to-consumer-app%3Futm_campaign%3Dransomware%26utm_content%3D05252021-Indonesian-farm-to-consumer-app%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( Packaging Tech [LiquiGlide demo]( Demo of LiquiGlide’s product (Source: LiquiGlide / Delish) Want to squeeze every last drop out of a toothpaste tube? Now you can. Here are 2 experiences that many of us can relate to: - Folding a toothpaste tube dozens of times - Using a knife to coax the last drops of ketchup out of a bottle There’s now a solution. According to [The Economist](, Colgate-Palmolive -- the $72B consumer goods company -- is commercializing packaging technology... … that has a super-slippery surface The product is called [LiquiGlide]( and was invented in 2012 by a professor-student team from MIT. This is how the sorcery LiquiGlide works: - Either a container or pipe is created with a “microscopically textured pattern” - A formulated liquid is applied to the surface, which fills the gaps and allows “gooey substances to slide easily” Colgate’s first easy-sliding product is Elixir A toothpaste currently selling in Europe. Even though the first LiquiGlide demo was for ketchup, actual ketchup makers have yet to use the product. The MIT duo believe that their slippery invention can eventually be used for food products of all thickness (mayo, hummus, sour cream). Another huge benefit Existing containers for toothpaste are typically made from materials that are difficult to recycle, like plastic laminates and aluminum foil. LiquiGlide is a green-friendly alternative. Not only do you get to squeeze out every last drop, but you can also feel good about where you put the waste after. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Want+to+squeeze+every+last+drop+out+of+a+toothpaste+tube%3F+Now+you+can.%0Ahttps%3A%2F%2Fthehustle.co%2F05252021-Colgate-Palmolive-Elixir%3Futm_campaign%3Dransomware%26utm_content%3D05252021-Colgate-Palmolive-Elixir%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( TRENDS Hint ad with Sara Dietschy (Source: Nik Sharma / Trends) Influencers are cutting brands’ acquisition costs by 40% According to [Statista](, the influencer market will reach $13.8B in 2021. A well-executed influencer promotion can lower your CPA by 40% compared to traditional PPC campaigns. “But I’ve tried working with influencers before… it didn’t work.” Learn the new formula: vet, automate, and repurpose Nik Sharma, who led growth for Hint and VaynerMedia, published a [Trends report]( on how to use influencers to supercharge your PPC campaigns. Covering the 3 areas of influencer ROI: - Use software to [automate vetting]( and outreach - Develop [high-quality]( campaign creative - [Maximize your ROI]( by repurposing the creative [Access the full report]( and hundreds of others by becoming a Trends member. [Lower your CPA →]( Hacker of the day [Santiago Lopez headshot] Santiago Lopez in a recent interview with the BBC (via BBC) Bug bounties are programs where large corporations pay hackers to find vulnerabilities in their code. Netscape launched the first bug bounty program in 1995, to find issues in its browser. Since then, companies with gnarly code bases -- Google, Facebook, Tesla, Microsoft, Uber, Verizon, etc. -- have [paid millions]( of dollars to “ethical” hackers. One of the top “ethical hackers” is [Santiago Lopez]( (in his early 20s) of Buenos Aires. He became the first person to earn $1m on HackerOne, a platform that connects hackers with bounties. Lopez, who first got interested in hacking after watching [Hackers](, is completely self-taught and clocks 6-7 hours a day finding bugs. Other good tidbits: - His first bounty was $50 - His largest bounty was $9k - He’s identified 1,670+ bugs The Hustle previously covered Santiago and the rise of young hackers [here](. SHARE THE HUSTLE [Hustle Cons Greatest Hits ebook]( Over the years, we’ve learned… secrets. The business secrets, tips, and tricks that have helped founders go from zero to millions -- and even billions -- of dollars. Want to see ‘em? Just refer 3 more friends to The Hustle and we’ll send you our curated set of interviews with founders from brands like Zola, AWAY, Vungle, Bonobos, and more. Here’s a message you can use to share with your friends: Hey! Do you read The Hustle? It’s the best daily business newsletter out there -- only takes 5 minutes to read and you’ll sound like the smartest person in the room. Sign up here, it’s free: [ P.S. You can always check your referral count [here](. [Share The Hustle →]( How did you like today’s email? Today's email was brought to you by [Trung Phan](, [Jacob Cohen](, [Juliet Bennett Rylah](. Editing by: Zachary “Ransomware” Crockett. [PODCAST]( [JOBS]( [CONTACT US](mailto:news@thehustle.co) [Facebook]( [Youtube]( [Instagram]( [Trends]( 2131 THEO DR. STE F, AUSTIN, TX 78723, UNITED STATES • 415.506.7210 Never want to hear from us again? Break our hearts and [unsubscribe](list=thehustle). [The Hustle](