The hackers behind recent high-profile ransomware attacks on U.S. hospitals are using business methods that might be familiar to some Silicon Valley start-ups.
Cybercriminal gangs are attacking large markets with rich customers. They offer a product with a clear value proposition (giving you back your seized data) that alleviates a specific pain point (the inability to run your business). They act with agility and stealth enabling them to outwit the competition. They are also scrappy, often bootstrapping their illicit businesses.
"It is an economic business system, it is just perpetrated at a criminal level," said Matt Devost, CEO of FusionX, a unit of Accenture. "There are a lot of analogies between that and a start-up environment."