Rupesh Chokshi, AT&T Cybersecurity | Fortinet Security Summit 2021
>>From around the globe. It's the cube covering Fortinet security summit brought to you by Fortinet. >>Welcome back to the cube. Lisa Martin here at the Fordham het championship security summit. Napa valley has been beautiful and gracious to us all day. We're very pleased to be here. I'm very pleased to welcome a first-timer to the cube. Rupesh Chuck Chuck Xi, VP a T and T cybersecurity and edge solutions at, at and T cybersecurity. Refresh. Welcome. >>Thank you. Thank you so much for having me, Lisa, I'm looking forward to our conversation today. >>Me too. First of all, it's we're in Napa we're outdoors. It's beautiful venue, no complaints, right? We're at a golf PGA tournament. Very exciting. Talk to me about the at and T Fordanet relationship. Give me, give me an, a good insight into the partnership. >>Sure, sure. So, as you said, you know, beautiful weather in California, Napa it's my first time. Uh, so it's kind of a new experience for me going back to your question in terms of the relationship between eight P and T and Ford in that, uh, a long lasting, you know, 10 plus years, you know, hand in hand in terms of the product, the technology, the capabilities that we are brought together in the security space for our customers. So a strategic relationship, and I'm so thrilled to be here today as a, Fordanet invited us to be part of the championship. Tommy, >>Talk to me. So your role VP of, and T cybersecurity and edge solutions, give me an, a deep dive into what's in your purview. >>Sure, sure. So I, uh, sort of, you know, run the PNL or the profit and loss center for product management for all of at and T cybersecurity and ed solutions and the whole concept behind putting the teams together is the convergence in networking and security. Um, so, you know, we are supporting the entire customer continuum, whether it's a fortune 50, the fortune 1000 to mid-market customers, to small businesses, to, you know, government agencies, you know, whether it's a local government agency or a school district or a federal agency, et cetera. And my team and I focus on bringing new product and capabilities to the marketplace, you know, working with our sales team from an enablement perspective, go to market strategy. Um, and the whole idea is about, uh, you know, winning in the marketplace, right? So delivering growth and revenue to the business, >>Competitive differentiation. So we've seen so much change in the last year and a half. I know that's an epic understatement, but we've also seen the proliferation at the edge. What are some of the challenges that you're seeing and hearing from customers where that's concerned >>As you stated, right. There's a lot happening in the edge. And sometimes the definition for edge varies when you talk with different people, uh, the way we look at it is, you know, definitely focused on the customer edge, right? So if you think about many businesses, whether I am a, a quick serve restaurant or I'm a banking Institute or a financial services or an insurance agency, or I'm a retail at et cetera, you know, lots of different branches, lots of different transformation taking place. So one way of approaching it is that when you think about the customer edge, you see a lot of virtualization, software driven, a lot of IOT endpoints, et cetera, taking place. So the cyber landscape becomes more important. Now you're connecting users, devices, capabilities, your point of sale system to a multi-cloud environment, and that, you know, encryption of that data, the speed at which it needs to happen, all of that is very important. And as we think ahead with 5g and edge compute and what that evolution revolution is going to bring, it's going to get even more excited because to me, those are kind of like in a playgrounds of innovation, but we want to do it right and keep sort of, you know, cyber and security at the core of it. So we can innovate and keep the businesses safe. >>How do you help customers to kind of navigate edge cybersecurity challenges and them not being synonymous? >>That's a great, great question. You know, every day I see, you know, different teams, different agendas, different kinds of ways of approaching things. And what I tell customers and even my own teams is that, look, we have to have a, a blueprint and architecture, a vision, you know, what are the business outcomes that we want to achieve? What the customer wants to achieve. And then start to look at that kind of technology kind of convergence that is taking place, and especially in the security and the networking space, significant momentum on the convergence and utilize that convergence to create kind of full value stack solutions that can be scaled, can be delivered. So you are not just one and done, but it's a continuous innovation and improvement. And in the security space, you need that, right. It's never going to be one and done. No >>We've seen so much change in the last year. We've seen obviously this rapid pivot to work from home that was overnight for millions and millions of people. We're still in that too. A fair amount. There's a good amount of people that are still remote, and that probably will be permanently there's. Those that are going to be hybrid threat landscape bloated. I was looking at and talking with, um, 40 guard labs and the, the nearly 11 X increase in the last 12 months in ransomware is insane. And the ransomware as a business has exploded. So security is a board level conversation for businesses I assume in any. >>Absolutely. Absolutely. I agree with you, it's a board level conversation. Security is not acknowledged the problem about picking a tool it's about, you know, the business risk and what do we need to do? Uh, you mentioned a couple of interesting stats, right? So we've seen, uh, you know, two things I'll share. One is we've seen, you know, 440 petabytes of data on the at and T network in one average business day. So 440 petabytes of data. Most people don't know what it is. So you can imagine the amount of information. So you can imagine the amount of security apparatus that you need, uh, to Tofino, protect, and defend and provide the right kind of insights. And then the other thing that VOC and along the same lines of what you were mentioning is significant, you know, ransomware, but also significant DDoSs attacks, right? So almost like, you know, we would say around 300% plus said, DDoSs mitigations that we did from last year, you know, year over year. >>So a lot of focus on texting the customer, securing the end points, the applications, the data, the network, the devices, et cetera. Uh, the other two points that I want to mention in this space, you know, again, going back to all of this is happening, right? So you have to focus on this innovation at the, at the speed of light. So, you know, artificial intelligence, machine learning, the software capabilities that are more, forward-looking have to be applied in the security space ever more than ever before, right. Needs these do, we're seeing alliances, right? We're seeing this sort of, you know, crowdsourcing going on of action on the good guys side, right? You see the national security agencies kind of leaning in saying, Hey, let's together, build this concept of a D because we're all going to be doing business. Whether it's a public to public public, to private, private, to private, all of those different entities have to work together. So having security, being a digital trust, >>Do you think that the Biden administrations fairly recent executive order catalyst of that? >>I give it, you know, the president and the, the administration, a lot of, you know, kudos for kind of, and then taking it head on and saying, look, we need to take care of this. And I think the other acknowledgement that it is not just hunting or one company or one agency, right? It's the whole ecosystem that has to come together, not just national at the global level, because we live in a hyper connected world. Right. And one of the things that you mentioned was like this hybrid work, and I was joking with somebody the other day that, and really the word is location, location, location, thinking, network security, and networking. The word is hybrid hybrid hybrid because you got a hybrid workforce, the hybrid cloud, you have a hybrid, you have a hyper-connected enterprise. So we're going to be in this sort of, you know, hybrid for quite some time are, and it has to >>Be secure and an org. And it's, you know, all the disruption of folks going to remote work and trying to get connected. One beyond video conference saying, kids are in school, spouse working, maybe kids are gaming. That's been, the conductivity alone has been a huge challenge. And Affordanet zooming a lot there with links to us, especially to help that remote environment, because we know a lot of it's going to remain, but in the spirit of transformation, you had a session today here at the security summit, talked about transformation, formation plan. We talk about that word at every event, digital transformation, right? Infrastructure transformation, it security. What context, where you talking about transformation in it today? What does it transformation plan mean for your customers? >>That's a great question because I sometimes feel, you know, overused term, right? Then you just take something and add it. It's it? Transformation, network, transformation, digital transformation. Um, but what we were talking today in, in, in the morning was more around and sort of, you know, again, going back to the network security and the transformation that the customers have to do, we hear a lot about sassy and the convergence we are seeing, you know, SD van takeoff significantly from an adoption perspective application, aware to experiences, et cetera, customers are looking at doing things like internet offload and having connectivity back into the SAS applications. Again, secure connectivity back into the SAS applications, which directly ties to their outcomes. Um, so the, the three tenants of my conversation today was, Hey, make sure you have a clear view on the business outcomes that you want to accomplish. Now, the second was work with a trusted advisor and at and T and in many cases is providing that from a trusted advisor perspective. And third, is that going back to the one and done it is not a one and done, right? This is a, is a continuous process. So sometimes we have to be thinking about, are we doing it in a way that we will always be future ready, will be always be able to deal with the security threats that we don't even know about today. So yeah, >>You bring up the term future ready. And I hear that all the time. When you think of man, we really weren't future ready. When the pandemic struck, there was so much that wasn't there. And when I was talking with 49 earlier, I said, you know, how much, uh, has the pandemic been a, uh, a catalyst for so much innovation? I imagine it has been the same thing that >>Absolutely. And, you know, I remember, you know, early days, February, March, where we're all just trying to better understand, right? What is it going to be? And the first thing was, Hey, we're all going to work remote, is it a one week? Is it a two week thing? Right? And then if you're like the CIO or the CSO or other folks who are worried about how am I going to give the productivity tools, right. Businesses in a one customer we work with, again, tobacco innovation was said, Hey, I have 20,000 call center agents that I need to take remote. How do you deliver connectivity and security? Because that call center agent is the bloodline for that business interacting with their end customers. So I think, you know, it is accelerated what would happen over 10 years and 18 months, and it's still unknown, right? So we're still discovering the future. >>There's a, there will be more silver linings to come. I think we'll learn to pick your brain on, on sassy adoption trends. One of the things I noticed in your abstract of your session here was that according to Gardner, the convergence of networking and security into the sassy framework is the most vigorous technology trend. And coming out of 2020, seeing that that's a big description, most vigorous, >>It's a big, big description, a big statement. And, uh, we are definitely seeing it. You know, we saw some of that, uh, in the second half of last year, as the organizations were getting more organized to deal with, uh, the pandemic and the change then coming into this year, it's even more accelerated. And what I mean by that is that, you know, I look at sort of, you know, three things, right? So one is going back to the hybrid work, remote work, work from anywhere, right. So how do you continue to deliver a differentiated experience, highly secure to that workforce? Because productivity, human capital very important, right? The second is that there's a back and forth on the branch transformation. So yes, you know, restaurants are opening back up. Retailers are opening back up. So businesses are thinking about how do I do that branch transformation? And then the third is explosive business IOT. So the IOT end points, do you put into manufacturing, into airports in many industries, we continue to see that. So when you think about sassy and the framework, it's about delivering a, a framework that allows you to protect and secure all of those endpoints at scale. And I think that trend is real. I've seen customer demand, we've signed a number of deals. We're implementing them as we speak across all verticals, healthcare, retail, finance, manufacturing, transportation, government agencies, small businesses, mid-sized businesses. >>Nope, Nope. Not at all. Talk to me about, I'm curious, you've been at, at and T a long time. You've seen a lot of innovation. Talk, talk to me about your perspectives on seeing that, and then what to you think as a silver lining that has come out of the, the acceleration of the last 18 months. >>She and I, I get the question, you know, I've been with at and T long time. Right. And I still remember the day I joined at T and T labs. So it was one of my kind of dream coming out of engineering school. Every engineer wants to go work for a brand that is recognized, right. And I, I drove from Clemson, South Carolina to New Jersey Homedale and, uh, I'm still, you know, you can see I'm still having the smile on my face. So I've, you know, think innovation is key. And that's what we do at, at and T I think the ability to, um, kind of move fast, you know, I think what the pandemic has taught us is the speed, right? The speed at which we have to move the speed at which we have to collaborate the speed at which we have to deliver, uh, to agility has become, you know, the differentiator for all of us. >>And we're focusing on that. I also feel that, uh, you know, there have been times where, you know, product organizations, technology organizations, you know, we struggle with jumping this sort of S-curve right, which is, Hey, I'm holding onto something. Do I let go or not? Let go. And I think the pandemic has taught us that you have to jump the S-curve, you have to accelerate because that is where you need to be in, in a way, going back to the sassy trend, right. It is something that is real, and it's going to be there for the next three to five years. So let's get ready. >>I call that getting comfortably uncomfortable, no businesses safe if they rest on their laurels these days. I think we've learned that, speaking of speed, I wanna, I wanna get kind of your perspective on 5g, where you guys are at, and when do you think it's going to be really impactful to, you know, businesses, consumers, first responders, >>The 5g investments are happening and they will continue to happen. And if you look at what's happened with the network, what at and T has announced, you know, we've gotten a lot of kudos for whatever 5g network for our mobile network, for our wireless network. And we are starting to see that, that innovation and that innovation as we anticipated is happening for the enterprise customers first, right? So there's a lot of, you know, robotics or warehouse or equipment that needs to sort of, you know, connect at a low latency, high speed, highly secure sort of, you know, data movements, compute edge that sits next to the, to the campus, you know, delivering a very different application experience. So we're seeing that, you know, momentum, uh, I think on the consumer side, it is starting to come in and it's going to take a little bit more time as the devices and the applications catch up to what we are doing in the network. And if you think about, you know, the, the value creation that has happened on, on the mobile networks is like, if you think about companies like Uber or left, right, did not exist. And, uh, many businesses, you know, are dependent on that network. And I think, uh, it will carry on. And I think in the next year or two, we'll see firsthand the outcomes and the value that it is delivering you go to a stadium at and T stadium in Dallas, you know, 5g enabled, you know, that the experience is very different. >>I can't wait to go to a stadium again and see it came or live music. Oh, that sounds great. Rubbish. Thank you so much for joining me today, talking about what a T and T is doing with 49, the challenges that you're helping your customers combat at the edge and the importance of really being future. Ready? >>Yes. Thank you. Thank you so much. Really appreciate you having me. Thanks for 49 to invite us to be at this event. Yes. >>Thank you for refresh talk. She I'm Lisa Martin. You're watching the cube at the 40 net championship security summits.
SUMMARY :
security summit brought to you by Fortinet. a first-timer to the cube. Thank you so much for having me, Lisa, I'm looking forward to our conversation today. Talk to me about the at and T Fordanet uh, a long lasting, you know, 10 plus years, you know, hand in hand So your role VP of, and T cybersecurity and edge solutions, give me an, Um, and the whole idea is about, uh, you know, What are some of the challenges that you're but we want to do it right and keep sort of, you know, cyber and security at the core of a vision, you know, what are the business outcomes that we want to achieve? And the ransomware as a business acknowledged the problem about picking a tool it's about, you know, the business risk and what do mention in this space, you know, again, going back to all of this is happening, So we're going to be in this sort of, you know, hybrid for quite some time are, And it's, you know, all the disruption of folks going to remote in, in the morning was more around and sort of, you know, again, going back to the network security And when I was talking with 49 earlier, I said, you know, how much, uh, has the pandemic been you know, it is accelerated what would happen over 10 years and 18 months, and it's One of the things I noticed in your abstract of your session here was that according to Gardner, So the IOT end points, do you put into manufacturing, seeing that, and then what to you think as a silver lining that has come out of the, She and I, I get the question, you know, I've been with at and T long time. I also feel that, uh, you know, there have been times where you guys are at, and when do you think it's going to be really impactful to, you know, that needs to sort of, you know, connect at a low latency, high speed, Thank you so much for joining me today, talking about what a T and T is doing with Thank you so much. Thank you for refresh talk.
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Alex Mashinsky, Celsius | Blockchain week NYC 2018
>> Announcer: From New York, it's theCUBE covering Blockchain Week. Now here's John Furrier. >> Hello everyone, welcome back. I'm John Furrier, the host of theCUBE. We're here in New York City for on the ground coverage for three days, wall-to-wall for Blockchain Week, New York's part of Consensus 2018. Sold out show, we're out in the open. Open (mumbles) to all the cons here. Next guest is Alex Mashinsky, Founder and CEO of Celsius. Seasoned entrepreneur, great debater on stage, great brawl recently at the Milk Institute. We'll talk about that. But more importantly, he's got a great project called Celsius, welcome to theCUBE. Thanks. >> Thanks for having us, John. >> So, I love we just chatted before the camera turned on about some of the things you've done. You've gotten into a little bit of a great heated panel discussion. With someone who actually doesn't even hold cryptocurrency. He's saying it's all bullshit. >> Yes >> Right, so tell about the story. It was written up by Bloomberg, what was this famous brawl in the Milk Institute? >> Yeah, so the Milk Institute, they've been having conferences for the last 25 years and they're trying to combine the making money with doing good in the world, right? So, it's doing well and doing good at the same time. And that's what crypto is all about, right? And so, they had a panel about crypto with me and Nouriel Roubini, who's like Doctor Doom who predicted the last 15 recessions. There were only two, but they were predicted all 15 of them. So, I was telling him, even a broken clock is right twice a day, you know? He was going at me, he was going at the community, he was calling it a scam. And when you don't own any coin and you have not come to an event like this and seen 8,000 people celebrate this innovation, power to the people, then what are you talking about? So, I was there to really defend the community. It wasn't about me or him. >> Yeah, you did a good job. Well, thank you for doing that. Also, you're on a great project. I've been talking about a lot of other things I want to get to in the industry that you have a view and opinion on I would like to get. But your project Celsius. Take a minute to explain that, because I think this highlights really what's going on. I chatted earlier today about token economics. This is a new way, a new infrastructure, a new capability, a new mechanism that's really becoming powerful, of a network effect. >> Yes. >> So, the old world was DNS. 30 years-old stack on ecommerce, search engines, they're not accurate for network effects, a new dynamic, new data source is happening and it's creating new value, new data. >> Yes. >> Talk about Celsius the project and your value proposition. >> Right, so Celsius Network is basically trying to create an algorithmic cloud-based solution that does everything in your best interest. So, you have to think of it as a basket of financial services that do simple things like give you a loan or allow you to earn interest, give you access to a lot of great financial products, insurance and other things, that altogether do everything in your best interest. And what we're doing is we're enabling 100 million new people to come into the cryptocommunity and enabling them to benefit from all these things both for the increase in the value of the coins but also allowing their money to earn money for them. And today, if you think about banks, right? They take your money, right? You make a deposit, they take your money, they'll lend it to me on my credit card, they charge me 25%, they give you 1%. So, they take all that margin that you talked about. They squeeze all of that and keep it to themselves. >> And they're representing two people. It's like a realtor, who do you represent, the buyer or the seller? >> They're a toll collector in the middle, exactly. They're not adding any value. >> So, the new shift is on user value-- >> Exactly. >> And you see real-world examples of this. The whole Facebook debacle, who owns your data, and Mark Zuckerberg was testifying in front of the Senate in Congress, saying, "No, we don't sell your data." But they license the data and they use it. >> They extract all the value from it. >> They don't actually sell the data, true. But they license the shit out of it, to target you. >> They squeeze every last penny out of it. >> This is now obvious to people. >> Yes. >> That problem. >> Yes. >> Talk about the cryptobenefits, where is this shift happening, users, the power to the people, I get the phrase, but where is it happening? The token level-- >> So for example, Yeah, let's take an example, so most of the people here on this floor, they take their coins, they put them in exchanges, they celebrate the fact that the coin went up 50, 100% or whatever, but they don't realize that they leaving a lot of money on the table, because these exchanges do shorting, front-running, all kind of other stuff that should be illegal, but they do it, so they announce these amazing earnings, Binance announced amazing earnings and a lot of that earnings comes from the money that should be given back to you and me. So, if you think about the credit card company giving you two percent back, this is kind of the same thing. We are basically taking all of that earnings and giving it back to the coin-holders and we're saying, "Don't keep your money on exchanges, keep your money in a wallet that represents your best interest." It extracts all that value and gives it back to you. >> And so, what's your value proposition? You know what, you should say, "Use our wallet, use our system." >> Right. >> And then you represent their currency? >> So, we huddle together, we create a giant pool of BTC, a giant pool of ETH, or other coins, and we lend against that. So, we can do loans to the community, we charge nine percent for asset-backed loans, basically, so you need a loan against your crypto. This way you don't have to pay taxes, you can defer your tax, you can get liquidity without triggering all the tax that today you have to-- or you can just earn interest. So, without selling the coins, you can basically generate five to nine percent income that's continuous on top of that appreciation, you still get all the appreciation of the coin, but you're also generating income. >> So, you can bring contextual services around the crypto-holder interest. >> Yeah, so we find people willing to pay that. For example, other crypto-holders who want a loan, and they pay us nine percent, we give five percent to the community. Hedge funds who short BTC or ETH, they pay us ten or 15%, we give most of it back to the community. But the beauty is that the coin-holder doesn't have to do anything. They don't have to move from this account to that account. They don't do transactions. All they have to do is decide if Celsius Network is doing everything in their best interest or not. And the point is is that the next 100 million people that are going to join crypto, they're not speculators or anarchists or libertarians like most of the people here on the floor. They're people who kind of look at all this, saying, "It's too complicated, I don't know what to do, I'm not going to get in at the right time, I'm not going to get out at the right time." They don't have anyone they can trust. >> So, I'm going to be able to ask the Average Joe six-pack question, "Hey that's all fine, I love what you're doing. Come on, sign me up. But wait a minute. If you put all this crypto in one spot, the frickin' hackers are going to get it. >> Right. >> Because, how do you protect me against-- I heard, see, Mt. Gox was in the-- and all this stuff's going on, I'm worried that it's going to get hacked. Even wherever I put it." >> Exactly. And then Nouriel basically asked me the same question. So, in 10 years since BitCoin was created, there hasn't been a single instance of anyone cracking the blockchain itself. All the theft, everything that happened was because we gave somebody our private key and we entrusted them with it, and they screwed up. Mt. Gox, it basically broke into the exchange and so on. So, we keep everything in cold storage. And it's not ours, we have a custodian that is a giant company that is willing to accept all that, keep it in cold storage and we lend against it. We lend against the pull. >> So the private key's going in cold storage? >> Everything is staying in cold storage, which is the safest way to keep your crypto. It's much safer than keeping it on an exchange or keeping it in a different place. >> And it's all through--it's encryption, it's never safe to--a private key's a private key. Right, I mean, we've seen this before. >> Exactly. >> It's not rocket science. >> But even if you keep it in your home, in your safe, that's not as safe as putting it in a facility that is resistant to nuclear attack and has four layers of security and no human can get into the last room. It's a physical connection. >> I've heard this problem, just estate planning, someone dies, where's his cryptokey? >> Exactly. >> Unlocking, say 30 to 100 million dollars' worth of crypto. >> Exactly. >> It's not obvious. Well, the guy was smart, he put it in lock boxes all around the country. Wait a minute, no one knows where they are. >> But as a custodian, if you show us that you are the ultimate heir and you have the legal representation, then we can handle it, right? We can transfer that. But really, you're protecting it against a hacker coming in and stealing it from you. All the legal ramifications still apply. >> So, let's talk about the industry. What do you like about the industry right now, and what do you think that needs more work on, faster, or behavior-wise, what's your general temperature-taking of the current community? A lot of back-end work being done. Some complaints I heard about the demos, where some people say the front end was pretty sucky. >> Yes. >> But I think that's because a lot of back end work's being done. >> Well, this reminds me of 95 through 2000, I wrote some of the original Void protocols and everybody told me it's not going to work, the Internet is too slow, you can't scale, it's not safe. >> Yeah. >> I hear the same arguments again and again. >> Exactly. >> Today a billion people use Void every day and they don't even know who created it or how it works. I go in a room, I do speeches, right? And I ask, "Who here knows how Void works?" Not a single hand goes up. So, we need to get to the point where blockchain and crypto works the same way, no one needs to understand how it works, they just need to use it and trust it. So, the biggest thing I think holding us up right now is actually not technical. Because there's over 130 different blockchains. And some of them solves the scalability issues and security issues. The problem is is that we kind of have the early adopter phase, but we cannot leapfrog into the mass adoption phase. Because we're still at the early phase of operation. >> Exactly, is this just evolution or is it something specific? >> Well, the applications that we have today are not things that most of the people on the planet can use. That's what I'm saying, like for example, lending and borrowing is much more attractive than trading coins with each other. >> Yeah, it's like the Web, and Web 1.0, I mean-- >> Exactly. >> Search was the first application, and then everyone went to there, check their stock quotes. >> Looking at travel-- >> Travel, buy your car-- >> Exactly. >> Basic Maslow's hierarchy of needs kind of things. >> Yes. >> So, but that was interesting, because it was a whole new way. And by the way, same arguments I heard in the Web. "It's so slow. A mini-computer's so much faster than this AOL thing at 9600 bot modem." But the apples weren't being compared to other apples. It was replacing direct mail where I used to put stamps on envelopes and mail things. >> That's right, look. The bank gives you one percent. We pay five percent. So, that is a very attractive reason to switch from the bank to Celsius. Also, most people don't realize that the power the bank has is because we make all the deposits there. We stop depositing money there, they will have to pay us five percent, because as the money leaves them, they will have to raise the rates, they're going to have to attract you with more interest. So, it's a win-win, the community wins on the crypto side, and we're forcing the banks to do the right thing. >> Alright, I want to get your opinion, Alex, on ICOs. Did you guys do an ICO? How much did you raise? And what's your general take of the ICO market? I mean, certainly, blockchain, I've said this before, takes inefficiencies and makes them highly efficient, and we know the capital markets are very inefficient, so it's a bubble, okay. I have a choice. Tokens or VC, it's a no-brainer, go tokens. >> So look, I've had coins since 2013, I've invested in over 30 ICOs myself, and then when I couldn't find what Celsius does, I decided to start a new company, this is my eighth company as a founder. And so, I raised a billion dollars on the VC side, I know how that world works, had plenty of exits, and here we went to the community, we excluded all the VCs, we did not take money from a single venture guy because this is all about building the community. So, we just closed our round, about a month ago, we raised $15 million. We had 15,000 people sign up, 95% men. And it just drove me crazy, because half of our company's women, I thought that at least half of the people would be female. And I realized how big the problem is that we do not-- I mean, if you look at the floor here, we do not include the stronger sex. So, she's female, exactly. >> I'm promoting it here. >> I agree, I'm a big supporter too, so, I think when you think about it, if we want to be inclusive and we want this revolution to take hold, we have to solve these problems. What is the killer app, where are the female participants, how do we make it global, how do we make it inclusive, and how do we make the user interface and everything else so simple that you don't have to understand anything to use it every day. >> And what's your vision on how the ICOs are going to trend? >> Right. >> More stability, obviously. It'll level out, the bubble will-- I don't think it'll be a massive pop, I think it's going to be a small squeeze, so I think there's enough community involvement that self-governance will kick, in my opinion, but what's your take on the ICO? >> So, we definitely, this is like a Cambrian explosion. So, we are throwing money at everything. So, we're throwing money at good projects, bad projects, it's like a spray-and-pray mentality of the old days in 95 to 2000, we've seen that before. But from this some great companies are going to be born and I think the winners here are going to be bigger than Google, bigger than Apple, because the market is bigger. Money is the biggest market in the world, right? There's nothing bigger than all the money in the world, by definition. So, it's bigger than advertising, it's bigger than the social networks and it's bigger than Apple and whatever they're making. So, I believe that out of these companies, there are several thousand companies here, 8,000 participants, there were 4,000 ICOs that already took place or that are coming to be and out of that you're going to have your giant winners. And obviously Celsius is hoping to be one of them, but it's whoever builds the biggest community is the one that's going to win. And for us, it's all about giving back everything to the community. >> Your mission is awesome, I love your mission, and I love your expertise, love your experience. I think the community really is great to have you being a champion, being a mentor, I know you're doing a lot of paying it forward, great job. What's your view for the young entrepreneur out there, or someone who's got a growing opportunity that says, "Hey, you know what? I'm actually tailor-made for decentralization, I have a network community, network effect, I have all these great things going on, I want to scale." >> That's a great question because-- >> What's the playbook? >> A lot of people come to me and say, Oh, I'm too late to the game." No one is too late to the game. The experts have a six month experience. So, you talk to most of the people here, this is the first event, this is the first show. So, what I say to a lot of entrepreneurs is that if you pick the right vertical, you can very quickly become the best in the world at it. And I think the first phase of evolution here in the blockchain is all about financial products and financial solutions. I wouldn't go after healthcare, I wouldn't go after-- so like, insurance, or solving financial problems that currently have giant toll collectors who collect all the value, like the banks, or like the financial service providers, the insurance and so on. So, if you can solve those areas, you can scale very quickly, because Interen already has six or seven billion people on it, so now you can just bring them all in and haggle on their behalf in the cryptocommunity. >> I feel like I should lie down on the couch and ask Dr. Alex for some more advice. So, I'm actually going to ask you some specific questions. >> No couch here, man! There's no off switch here. >> I'll pass out, so much action going on. I mean, the vibe here is amazing. So, theCUBE, we're doing an open token model, got a great community, we want to grow and be number one at digital media, covering events with a network effect, video and media. We see token as a great opportunity. What's your advice? You're on our advisory team, what do you tell us to do? >> So, the curation is excellent, I think you guys do a great job at pulling the content. And what's missing in this community is really an automated process that kind of asks the community, "What do you guys believe in?" It's very hard for most people here to figure out which ones of these thousands of projects are trending right now, for example. And we can all vote on our app, for example. If you could create an app that allowed all of us to vote during the show, on what's trending and you had those guys being interviewed instead of me, you would have the killer apps. All of us know what they are and are not, but we should vote on it. >> So, use collective intelligence of the data-- >> Yes. >> And make a content operating system-- >> Exactly, use your metadata that you're already producing to do real-time input and bring those guys here, interview them and ask them about why their projects are hot. Celsius, people ask me all the time, "How do I get involved? How do I get involved? I saw you on Rubena, I saw you on this show." And so, we manage to create a lot of buzz around us and there are a few other projects like that, the community needs to get around the good projects and support them, because when we spend a lot of money on bad projects, we're not giving enough support to the good projects. >> You got to close loop that data, make it a community brand. That's what you're doing, that's what we're trying to do here, covering the events. So, we're going to build a content operating system. >> There we go! >> Run-time assembly, whatever the votes-- >> Let everybody vote in real-time, yes. >> Give me 50 times I see the hashtag-- >> Right, and the size of the name grows based on the adoption. >> You would have to have, like, clips instantly available, you would have to have all the metadata-- >> It's all real-time. >> You'd have to have all that stuff available. >> And the community will post it for you, you just do the final interviews, just bring these guys and say, "Okay, you won number one, number two, number three, and you give them the awards. >> Awesome, I love this conversation, even though we're kind of riffing, having fun. But the point of it is-- >> It's a new start-up let's do an ICO. >> Let's do an ICO, we can (mumbles) with that. No, but this is really fundamental for the entrepreneurs at the tech culture, we're talking about basically dev ops. >> Yes. >> Using cloud computing, we can have unlimited-- >> You can spin it up in a few days. >> You can apply automation, AI, that's your point, trust the software. >> Yes. If you're doing it for the community, they will recognize it and adopt you very quickly. >> They'll apply a human curation layer on top of it. >> With full transparency, you've got to show that you're doing everything for the community, like what we're trying to do, right? We're showing, when we tell you you're going to earn 5.1%, you can dig in and see who's getting paid and why they're getting this much money, what's the allocation, every token that's being given to anyone, all the math behind it is fully transparent, right? >> Final question-- >> Try to ask the bank for that. See what they're saying. >> Transparency? Go find another bank. Final question, your summary of the show. What's your take, was it good? Good vibes? What was the content agenda? What was the most exciting thing you saw, what's your summary of Consensus 2018? >> So, Consensus, when they organized it, they were bragging that 4,000 people are going to show up, and that's why they moved to the Hilton from the Marriott. And then 8,000 people show up, the lines were outside the whole hotel, so it proves that the demand is there. Everybody wants to come and learn about it, they want to know why this is so hot, why this revolution is here to stay, so what I'm taking out of the show is that this innovation is just in its infancy and there's a lot of people who are still yet to join. And the best ideas, the winners, have not yet been decided. So, watch out for all those new ideas that we haven't heard about yet. >> And it's accelerated from other trends. >> Yes, it definitely accelerated. >> Alex Mashinsky, CEO of Celsius, former entrepreneur of multiple startups. See, he knows the old way, he sees the new way, he's been a successful entrepreneur, seasoned community member. Thanks for coming on, we appreciate it. >> Thanks for having us. I appreciate it. >> I'm John Furrier here with theCUBE on the ground out in the open, in the community, CUBE coverage here, Blockchain Week 2018 New York. Thanks for watching. (electronic-based music)
SUMMARY :
Announcer: From New York, it's theCUBE for on the ground coverage for three days, wall-to-wall So, I love we just chatted before the camera turned on Right, so tell about the story. and you have not come to an event like this that you have a view and opinion on I would like to get. So, the old world was DNS. Talk about Celsius the project So, they take all that margin that you talked about. the buyer or the seller? They're a toll collector in the middle, exactly. in front of the Senate in Congress, They don't actually sell the data, true. and a lot of that earnings comes from the money And so, what's your value proposition? so you need a loan against your crypto. So, you can bring contextual services around And the point is is that the next 100 million people the frickin' hackers are going to get it. Because, how do you protect me against-- of anyone cracking the blockchain itself. which is the safest way to keep your crypto. And it's all through--it's encryption, and no human can get into the last room. Well, the guy was smart, he put it in lock boxes and you have the legal representation, and what do you think that needs more work on, faster, But I think that's because a lot of the Internet is too slow, So, the biggest thing I think holding us up right now Well, the applications that we have today and then everyone went to there, check their stock quotes. And by the way, same arguments I heard in the Web. Also, most people don't realize that the power the bank has and we know the capital markets are very inefficient, And I realized how big the problem is so simple that you don't have to understand I think it's going to be a small squeeze, of the old days in 95 to 2000, I think the community really is great to have you is that if you pick the right vertical, So, I'm actually going to ask you some specific questions. There's no off switch here. I mean, the vibe here is amazing. So, the curation is excellent, the community needs to get around the good projects You got to close loop that data, Right, and the size of the name grows And the community will post it for you, But the point of it is-- at the tech culture, You can apply automation, AI, that's your point, they will recognize it and adopt you very quickly. everything for the community, Try to ask the bank for that. What was the most exciting thing you saw, so it proves that the demand is there. See, he knows the old way, he sees the new way, I appreciate it. out in the open, in the community, CUBE coverage here,
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