Why Does Cyber Tech so Often Fail? Addressing the Cyber “Market for Lemons”
summary
A panel featuring leaders from CyLon, the UK National Cyber Security Centre, and Next Peak examines why cybersecurity products often underperform for buyers, referencing 2020 research that 90% of buyers see market failure. They discuss what has changed since that finding and introduce a proposal for a buyer’s charter as a concrete step to correct market failures in cyber technology.
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chapters (6)
- 0:00Start
- 6:28Cybersecurity technology efficacy is defined by four characteristics
- 8:55System dynamics and incentives: short-term incentives outweigh longer-term incentives to improve solution efficacy
- 9:41Poor efficacy results from the information asymmetry between buyers and vendors
- 11:19Information asymmetry is an economics problem, not a technology problem
- 13:27The SAFER Cybersecurity Buyers' Charter is proposed to drive resolution of the 'lemons' problem
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