The biggest technology companies, finance firms and technology giants — including Facebook which now reports up to 50 million user accounts may have been taken over by criminal hackers — invest many millions in cybersecurity and still fall victim to significant attacks.
It may be a function of where those many millions are going, which at many companies, is often backward rather than forward, focused on yesterday's or last year's problems and not on what might be coming next.
Last November, Facebook CEO Mark Zuckerberg told investors that he intends to make a point of communicating that cybersecurity spending will be hard on earnings, but is a necessary component of the company's forward-looking goals.
He said Facebook would double its security staff in 2018 by adding contractors, especially security engineers, from 10,000 to 20,000 employees. The company has also been spending more on artificial intelligence, in part to cull rogue accounts meant to sow discord with false stories, in U.S. elections and other government activities.
In the company's second-quarter 2018 earnings call, Zuckerberg pointed out one of the toughest lessons for all companies as big as his, "Security is not a problem that you ever fully solve."