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Author Topic: IT blames USA greed, says CEO's are afraid of looking stupid - bank crash soon?  (Read 1883 times)
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Capitalist Pig
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« on: 2016 Jul 10, 10:46:40 AM »

Some gems from Former IT salesman: 'In part I blame the American mindset that took hold' | Joris Luyendijk | Opinion | The Guardian:

[...] so-called chief information officers, the top executives responsible for IT [...] are managers, skilled in office politics, not technical experts. [...] I worked for one of the major software companies in the world. It took my boss a year and a half of begging and pleading with the secretary to get a meeting with the CIO of a major client. CEOs are worse. They are afraid of looking stupid or ignorant, and actively avoid their IT people.

In part I blame the American mindset [...] It became all about targets, every problem was a 'challenge' and criticism became taboo. [...] Why this matters is that systems have become so unwieldy. Once you turn a system on, it becomes part of the IT ecosystem, as we call it, and the interdependencies are tremendously complex. It becomes next to impossible to turn the system off again. You are stuck with it, and changing things is like replacing an engine mid-flight while crossing the Atlantic.

"Here's a true horror story. Global corporation X is storing all of its crucial data in encrypted form. To unlock the encryption you need special keys, which are stored in one central place, on one computer.

"We sold them that system assuring them it was safe. One Friday afternoon, a new employee at X [...] has effectively erased the system that underpins all of X's global operations. Their data are still there, but encrypted and the keys are lost.

"Panic ensues [...] It sounds unbelievable but imagine a bank lost all of its data. It would make the panic during a bank run look innocent. [...]

"I just couldn't bring myself to sell this product, knowing what I did. [...] It's like selling a car to a 12-year-old.

"[...] I was struck by how similar the world of IT and finance are. The incentive structure, insane hours and warped world view, the machismo, zero job security and the sense of a bubble. [...]

"The competitive spirit does something to you. [...] It's amazing how you can get caught up in that bubble, I understand entirely how the same happens to bankers.

So, Brexit, ECB controversy... Although the above was written in 2012, it seems to me another financial disaster is imminent, and thus the above is relevant today. That article was the early warning siren, or the calm before the storm. When it rains, it pours. Feast, or famine. Got food? That's the first thing you will need if a monetary crisis of some kind makes you even temporarily unable to buy food. Forget the rent, the cable bill, etc, you need food and clean water more than anything else. You can deal with those other problems later. Disruptions that severe happen OFTEN. Their potency is in their ability to make you suffer greatly even if the crisis only lasts mere hours and days. 4 days without food, and you will be tempted to eat anything, including bugs. For myself, I'll be having pasta and bread. Enjoy!
« Last Edit: 2016 Jul 10, 10:51:43 AM by badon » Logged

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