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President Joe Biden is expected to have his first high-level meeting with the heads of some of the world’s largest tech companies in Washington on Wednesday to discuss improving countries’ cybersecurity readiness and chain security. ‘supply.
New Amazon (AMZN) CEO Andy Jassy will be among the attendees, people familiar with the matter told Yahoo Finance. Apple CEO (AAPL) Tim Cook and Microsoft CEO (MSFT) Satya Nadella are also on the guest list, Bloomberg reports.
The meeting, details of which were first reported by Bloomberg, may also feature such figures as Sundar Pichai, CEO of Alphabet (GOOG, GOOGL), Arvind Krishna, CEO of IBM (IBM), Jamie Dimon, CEO of JPMorgan (JPM), and Thomas, CEO of energy company Southern Company. Ventilation.
As the meeting goes behind closed doors, we can expect some details to be released. The rally comes as the Biden administration continues to investigate Apple, Google and Amazon for potential antitrust violations and after repeated criticism of Big Tech’s role in spreading disinformation about the president and his team.
Cyber security has become a growing concern within government following the massive hacking of government systems, including the Defense Ministry, by Russian hackers in December 2020. A ransomware attack on Colonial Pipeline in April and the disclosure in July that China-based hackers attacked 23 U.S. pipeline companies from 2011 to 2013, only added to calls for improved cybersecurity nationwide.
Biden and Big Tech
In May, the Colonial Pipeline hack cut nearly 50% of the East Coast’s fuel capacity, causing shortages in some states as drivers bought as much gasoline as possible. Following this incident, the president stressed the need for “greater private sector investment in cybersecurity”.
The president will likely ask CEOs for this type of investment on Wednesday. But the reunion comes as he and his administration have developed a complicated relationship on many fronts with the tech giants.
On the one hand, the president and his collaborators have often criticized their companies for the way they operate in their respective sectors. In July, Biden said “they’re killing people” when asked about his post for platforms like Facebook regarding vaccine misinformation. The president then backed down on those remarks somewhat, but maintained an aggressive stance towards the industry.
Biden also endowed his administration with a mix of prominent Big Tech critics – such as the selection of prominent Amazon critic Lina Khan to head the Federal Trade Commission – who seemed to indicate his team would take a tough stance on them. tech giants like Facebook, Google, Amazon and Apple.
On the flip side, Biden has also populated his administration with tech industry veterans, as the Wall Street Journal reported in May. And only on Monday, the New York Times reported that Apple and Google were urging trade officials in Washington to fight a South Korean bill that could hurt their app store operations.
“A negotiation in progress”
Despite its mixed past with Big Tech, the Biden administration may need tech giants to help strengthen the nation against cyberattacks.
High-profile attacks like the Colonial Pipeline hit international headlines. But aside from these high-profile cases, states and local municipalities have also been inundated with cyber attacks that impact everything from their records to 9-1-1 systems.
Additionally, attacks can cost hundreds of thousands of dollars in wasted time, labor, and new equipment to address them – money many communities do not have. Such hacks often come from outdated software, user error, or improperly configured security systems.
In May, Biden admitted he couldn’t force private companies to take action to prevent the attacks. But, he added, “It is becoming clear to everyone that we need to do more than what is being done now.”
The Biden administration has offered nearly $ 1 billion in grants as part of the $ 1,000 billion infrastructure bill for cybersecurity improvements for state, local and tribal governments.
The federal government has also moved forward with new cybersecurity rules for pipeline operators, requiring them to report any cyber attacks on their systems to the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, and to implement means to protect themselves. against future cyber attacks.
Vice President Kamala Harris also made supply chain security a key part of a trip to Asia this week. She announced a new partnership with Singapore to ensure resilient supply chains and hosted a panel discussion on the issue on Tuesday.
The pandemic has “exposed the fractures, failures and cracks in our systems,” Harris told executives at the event.
Do you have any advice? Email Daniel Howley at [email protected] via encrypted mail to [email protected], and follow him on Twitter at @DanielHowley.
Ben Werschkul is a writer and producer for Yahoo Finance in Washington, DC.
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