Some notes on the Norse collapse
Recently, cybersec company "Norse Security" imploded. Their leaders and most the employees were fired, and their website is no longer available. I thought I'd write up some notes on this.All VC-funded startups are a scam
Here's how VCs think. They see that there is a lot of industry buzz around "threat intel". They'll therefore fund a company in that space. This company will spend a 5% of that money to create a cool prototype, and 95% in marketing and sales. They'll have fancy booths at trade shows. They'll have a PR blitz to all the reporters who cover the industry. They'll bribe Gartner to be named a Cool Vendor or Magic Quadrant Leader. They'll win industry kudos. They have some early sales 'wins' with some major customers. These customers will give glowing reviews of the product they bought -- even before turning it on.
In other words, it's a perfect "Emperor Has No Clothes" story, where neither customers, nor Gartner, nor the press is competent to realize the Emperor is not wearing clothes.
VCs know it's a scam, but they are hoping it'll become real. As a well-known leader in this space, employees with the needed expertise will flock Continue reading