The most successful accelerator cohort ever: How this Techstars Seattle class produced 3 unicorns

In 2011, the world was still recovering from the financial crisis a couple of years earlier. The startup economy wasn’t in full swing yet. SaaS, pre-seed, or even mobile-first weren’t part of the startup vocabulary. Heck, even GeekWire had just launched. Still, in that year, TechStars Seattle 2011 just had its most remarkable cohort ever, and arguably the most successful accelerator cohort of all time, anywhere in the world, with three startups in that batch becoming unicorns. I was involved in the early days of GeekWire when it acquired Seattle 2.0 that year, an organization I founded in 2007. I… Read More

Tech Moves: Seattle startup TomboyX names new CEO; T-Mobile appoints general counsel; and more

— Gender-neutral underwear maker TomboyX promoted COO Leslie Gerrard to CEO. Co-founders Fran Dunaway and Naomi Gonzalez will continue to be brand ambassadors and strategic advisors. Dunaway will remain on the board of directors. “It’s a female founded challenger brand that’s 100% about promoting joy and wonder through radical comfort and inclusivity,” said Gerrard in a press release. A former vice president at REI, Gerrard joined the Seattle company last year. Prior to REI, she held senior marketing roles at Starbucks and T-Mobile. Additionally, the leadership team expanded: CFO Ryan Letson is now also COO. Katrine Fritz has been promoted… Read More

Hacker Taunts T-Mobile, Calls Its Security ‘Awful’

It’s historically always been true that however bad a hack scandal is when initially announced, you can be pretty well assured that it’s significantly worse than was actually reported. That’s certainly been true of the recent T-Mobile hack, which exposed the personal details (including social security numbers) of more than 53 million T-Mobile customers (and counting). It’s the fifth time the company has been involved in a hack or leak in just the last few years, forcing the company’s new(ish) CEO Mike Sievert to issue yet another apology for the company’s failures last Friday:

The extra apology didn’t come unprompted. It came after the hacker involved in the data breach conducted an interview with the Wall Street Journal (paywalled, here’s an open alternative) in which he explained T-Mobile’s overall consumer privacy and security protections as “awful”:

Binns gained access to the servers after discovering an unprotected router by scanning T-Mobile’s internet address for weak spots, The Journal reported. Over 53 million people had personal information compromised in the hack such as names, addresses, dates of births, phone numbers, Social Security numbers, and driver’s license information.”

In short he didn’t so much as “hack” T-Mobile as he walked straight through an open door. Customers say they didn’t know about the breach until the media did, prompting them to wonder why, if privacy and security is such a priority for a company like T-Mobile, they had to learn about the incident from somebody else:

“It just frustrates me, honestly,” Richards said. “If our data is a priority for you guys to keep safe, how come I haven’t gotten a notification or anything like that?”

Of course T-Mobile, like countless other American companies, isn’t incentivized to actually secure user data because we don’t have a meaningful privacy law for the internet-era. In most cases, the most companies like this see are a week of bad headlines and a few regulatory wrist slaps — assuming U.S. regulators have the time or resources to pursue any kind of meaningful investigation at all. Without meaningful oversight and penalties the impact on consumers is often little more than an afterthought, and the most they get is another round of “free credit reporting” — something they’ve already obtained from the last seven times their personal information wasn’t properly secured.

Then of course there’s the relentless “growth for growth’s sake” mindset in telecom and other sectors that results in a near-mindless obsession with consolidation (often at the cost of anything else). T-Mobile has spent much of the last five years kissing Donald Trump’s ass to gain regulatory approval for its job and competition eroding merger with Sprint. How much of the time spent pursuing their heavily criticized megadeal (and the follow up network integration) could have gone toward actually securing the company’s servers, routers, and overall network?

How technical debt is harming API security [Q&A]

APIs allow the easy exchange of information between apps, microservices and containers. They’ve become an essential part of the way our digital infrastructure operates. But the very ubiquity of APIs means developers are under pressure to produce them quickly and that can lead to ‘technical debt’ because corners are cut. We spoke to Tom Hudson, security research tech lead at app vulnerability scanner Detectify to find out more about why APIs are vulnerable in this way and how they can be secured. BN: Why is technical debt top of mind for security professionals? How does technical debt impact API security?… [Continue Reading]