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They are counting on the appliance not breaking down. But beyond that? If anything else breaks outside of the fine print of their contract, you pay the cost of the parts and repair. Sure, he gambled and won, but as everyone but the most addicted gambler knows: the house always wins in the end. Extended warranty companies know how to turn a profit. These are very rarely factory trained technicians or authorized service centers, and for that reason they generally lead to poor repair outcomes.
To further save money, most extended warranty companies insist on using the parts in their own warehouse to complete the repair. Instead, customers are left to wait months for a back-ordered part to arrive, whereas their local appliance repair company could have finished the repair in a week. Factory authorized technicians with factory support, access to the product engineers and the latest service bulletins, and a full parts warehouse on hand?
Or Donny and his station wagon that used to be a roofer until last month? Appliance manufacturers have added more features and technologies to make the appliances work better and be more useful. While these have added more potential points for failure, many of these features are excellent and well worth the risk. It is possible that you find an extended warranty that charges no deductibles per incident, covers cosmetic damage and other common issues including accidental breakage , offers friendly buyout clauses triggered by repeat repairs, limits how long you wait for back-ordered parts.
So, in general, we feel confident recommending you trust in your new appliance and your local appliance experts. And if your appliance should happen to break, cut out the middleman and use your free consumer choice to select the best repair company you can find. Track your technician. Check status of your repair job. Do you need all this information? Okay, so what does this have to do with cybersecurity? The parallels are interesting. Like the Derby, cybersecurity is a big deal.
It draws in billions of dollars, thousands of professionals, and puts hundreds of billions of dollars at risk. Many years ago, that expertise i. Security products shipped full of signatures designed to detect specific types of attacks. That is, the attackers won. Take any of the well-known breaches in recent years. All of these companies had invested serious time, money, and effort in the expert intelligence tools, typically some form of SIEM, that were supposed to predict and detect these types of threats.
Instead, the opposite often happened. Take the Target breach. Would anyone calculate this type of attack at less than odds? Perhaps with the benefit of hindsight, but almost certainly not at the time of the attack. So if someone looked at the previous Kentucky Derbies and excluded the most recent three, it would look pretty grim.
Experts demonstrated no ability to all to properly predict the winner, and in fact, their odds often did the opposite, tamping down the chance of a correct prediction. In the same way, a CISO surveying the cybersecurity landscape in might feel pretty depressed. Attacks were happening regularly, were increasing in frequency and impact, and the existing products demonstrated no effective ability to predict i.
CISOs looked more like incompetent bookies who had to pay out on long shots, rather than effective experts who could manage the odds. But in recent Kentucky Derbies, something changed. As noted above, the favourite has won the last three Derbies.
The experts have gotten better at predicting winners and managing the odds and associated costs. Unpacking the buzzwords, there has been real value where these three intersect.
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