It's Time to Pay the Ransom
Summary
TLDRIn this video, hosts Dan and Ransom discuss the impact of ransomware attacks on businesses, highlighting the case of CDK Global, which has caused billions in losses for the automotive industry. They also touch on the healthcare sector with the United Health ransomware incident. The video introduces Hillcrest Energy Technologies, a company with a patented inverter that promises zero power loss, potentially saving millions for EV cars and solar farms. The hosts emphasize the importance of protecting businesses from such attacks and the innovative solutions companies like Hillcrest offer in the face of increasing digital threats.
Takeaways
- 💻 Ransomware attacks are increasingly profitable, impacting various industries severely.
- 🚗 The automotive industry has suffered billions of dollars in losses due to a CDK software company ransomware attack, affecting sales and services.
- 📝 Car dealerships have had to revert to manual processes like writing contracts by hand due to the cyberattack.
- 🔒 Personal data from car dealerships has been compromised, putting customers at risk of identity theft and fraud.
- 💸 The cost of ransomware attacks is not just financial; it also includes the loss of sensitive customer information.
- 🏥 United Health experienced a ransomware attack, potentially exposing confidential health data of its customers.
- 💡 The necessity for businesses to prioritize cybersecurity to protect against the escalating threat of ransomware attacks is highlighted.
- 🏙️ Cities like Cleveland are struggling with the aftermath of ransomware attacks, affecting basic municipal services.
- 💰 The economic impact of ransomware extends to convenience stores like 7-Eleven, with some locations closing due to high operational costs.
- 🛒 There's a shift in consumer behavior, with people becoming more cautious about spending, affecting businesses like barbecue joints.
- 🌟 Hillcrest Energy Technologies is a company to watch, with a patented product aimed at reducing energy loss in EV cars and solar farms, offering significant savings.
Q & A
What is the main topic discussed in the video script?
-The main topic discussed in the video script is the impact of ransomware attacks on various industries, particularly the automotive industry, and the challenges faced due to a recent attack on CDK Global.
What is
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Outlines
🚗 Impact of Ransomware on the Auto Industry
Dan and Ransom discuss the significant impact of ransomware attacks, particularly on the automotive industry. The software company CDK Global was hit, leading to billions of dollars in losses as car dealerships were unable to write service orders, sell cars, or handle financing. This forced a return to manual processes like writing contracts by hand. The attack also resulted in personal data theft, affecting customers who financed cars through dealerships, exposing sensitive information to Eastern European hackers. The conversation highlights the ongoing challenges of ransomware attacks, the need for businesses to protect themselves, and the potential for such attacks to cripple industries.
🏙️ Ransomware's Effect on Cities and Digital Crime
The script moves on to discuss the broader implications of ransomware, using the city of Cleveland as an example of a municipality crippled by a ransom attack. The city's inability to collect money for essential services like water bills or issue permits is highlighted. The conversation then shifts to Sweden's transition from a cash-based society to a digital one, which has seen a rise in digital theft. The script also touches on the rising costs of everyday items and services, such as at convenience stores and restaurants, and the need for consumers to be vigilant about pricing and avoid being taken advantage of by suggestive selling tactics.
🌿 Hillcrest Energy Technologies: A Breakthrough in Energy Efficiency
The script introduces Hillcrest Energy Technologies, a company with a patented product aimed at reducing energy loss in inverters, which are crucial for converting AC to DC electricity and vice versa. The company's innovative inverter technology promises zero power loss during conversion, which could save significant amounts of money for electric vehicle (EV) owners and solar farm operators. Hillcrest has invested over $20 million in developing this technology and is now seeking strategic partnerships for growth. The potential market value and the uniqueness of their patented technology make Hillcrest an exciting company to watch, especially with the growing focus on green energy and electric vehicles.
🛠️ Challenges for Car Dealerships and Manufacturers
The final paragraph addresses the ongoing challenges faced by car dealerships and manufacturers due to the CDK ransomware attack. The script mentions the potential for further layoffs at Stellantis, a major car company, and the broader impact on Detroit and the automotive industry. It emphasizes the long-term effects of such cyber attacks, suggesting that recovery will not be swift and that the incident could have lasting repercussions for car sales and the industry's ability to operate efficiently.
Mindmap
Keywords
💡Ransomware attacks
💡CDK Global
💡Data breach
💡Eastern European hackers
💡United Health
💡Hillcrest Energy Technologies
💡Inverter
💡Electric vehicles (EVs)
💡Solar farms
💡7-Eleven
💡Suggestive selling
Highlights
Ransomware attacks are increasingly profitable, impacting various industries including automotive.
CDK Global, a software company, was hit by a ransomware attack causing billions in losses for the automotive industry.
The automotive industry has resorted to manual processes like writing contracts by hand due to the cyberattack.
Personal data from car dealerships has been compromised, including sensitive customer information.
Hillcrest Energy Technologies is a sponsor with a focus on green technology and energy loss solutions.
Hillcrest has developed an inverter with zero power loss, addressing a significant issue in solar energy and EV cars.
The patented technology by Hillcrest could save an average of $2,200 per EV and over $10 million for solar farms.
Hillcrest's inverter could not be duplicated due to its patented nature, providing a unique advantage.
The company is in talks with car manufacturers and has a low market value, indicating potential for growth.
The city of Cleveland is facing challenges due to a ransomware attack, affecting city operations.
Ransomware attackers are unrelenting, causing long-term disruptions and potential data leaks.
Sweden's shift from a cash society to a cashless one has led to an increase in digital theft.
7-Eleven stores are closing in the United States due to high labor costs and decreased consumer spending.
Inflation and high prices are affecting consumer behavior, with people becoming more cautious with spending.
Suggestive selling in restaurants can lead to unexpected costs, highlighting the need for vigilance with pricing.
Stellantis faces layoffs and challenges, reflecting broader issues in the automotive industry.
The CDK ransomware issue exacerbates existing problems for car dealers and manufacturers.
Transcripts
hey it's Dan welcome back this is I
allegedly and uh Ransom it's big
business right now and uh wow please
like subscribe comment on the video and
today we have a sponsor Hillcrest Energy
Technologies uh let's get right into it
you know we talked about this a little
bit last week because of the Auto
industry being shut down but these
ransomware attacks that are happening
are are getting to be more and more
profitable right now now here's the
thing cdk the software company this has
crippled the automotive industry it is
anticipated that there's been billions
of dollars lost right now billions of
dollars lost right now because they
cannot write service orders they cannot
sell cars they can't do financing and
what they've had to do is the car
industry has had to go out and write
contracts by hand lately now guys I
remember when you know I would buy cars
cuz I've got a few years on most of you
and people would you know they would
type up the sales orders they would type
up the financing orders that's what
they're having to do right now and you
would have thought that these guys are
using you know tablets and and uh you
know a chisel to to do this they have
such a problem with it but what's
happening is that cdk says enough is
enough because what they did was they
got hit with an attack and then some you
know executive start negotiating with
them and got Lippy because hey he's a
big bad car guy he's going to tell you
how it is and they said oh really and
then they just put the the hammer to the
floor now if you've bought a car from a
dealership in the last few years and you
had one of these dealerships your data
has been stolen and I have had so many
people reach out to me and say Dan this
is horrible because our personal
information did you finance it through
the dealership guys they got your Social
they got your home address they got your
phone number they got your workplace
they got everything that they would need
that a bad guy would need to go out and
to finance um a new lifestyle in your
name so you can sit there and say it's
no big deal this is huge Guys these
Eastern European hackers that have done
this have just done such a huge number
when it came to the cdk you know hacking
and again A one-two Punch when I talked
about it initially well it looks like
you know things are coming back online
and then they're not they're going to
have to pay tens of millions of dollars
and they're trying to put the money
together right now to pay these people
off so you know what do what how do you
expense uh you know Ransom attack
seriously and it gets sent this is the
thing that I don't understand you have
to send it to them via wire transfer oh
no we want Bitcoin okay well whatever
however they're going to get paid it's
got to be traceable in some way now
United Health United Health had a uh
Ransom attack earlier this year and the
problem with it was
initially they wanted $50 million for
this now they went back and forth with
them but all your health data if you are
a customer of United Health your
personal information if you've had lab
work done there they know what lab test
you had if you had a pregnancy test and
you want to keep it quiet if you had a
uh you know a sexually transmitted
disease you wanted to keep it quiet ah
not not not quiet anymore a third person
has that how do you feel about that okay
hippaa forget hippaa California is so
big on that here as far as making sure
that you don't talk about stuff like
that you don't you know patient privacy
it's ridiculous these companies have
jeopardized you and I like never before
but United Health they ended up paying
the bad guys it looks like the same
group $22 million so again Ransom
attacks are huge big business big money
none of us can afford this and it will
shut your business down but who when do
you sit there and when do you start to
protect yourself when you have a
database of
clientele seriously what you know what's
going to be the thing that's going to
make people go yeah we should work on
this because it's still it's happening
all the time right now so the cdk
problem
you know I feel for the auto dealers
because you know they've had a difficult
time in 2024 you could lie to yourself
you can sit there and say oh the economy
is booming it's not you get you know a
live fish on the hook and uh you want to
close that deal and then you can't oh my
God how how awful is that because the
problem with it is that let me tell you
something about the Auto
industry people get diverted their
attention gets diverted they you need to
get them while they're hot so to speak
and you need to close that deal now I'm
walking through traes and through the
mud right here
so absolutely
fascinating but they're going to pay who
knows what they're going to pay but
again when do you when do you sit there
and and protect us when do you sit there
and say okay we're not going to do this
and this is not going to be a problem
there have been so many cities the city
of Cleveland right now is still down
because of a ransom attack and again
defiant in totally cool people
involved in the city of Cleveland and uh
guess what the ransom attackers they
don't care they're going to shut them
down and they're going to keep them shut
down and start releasing personal data
and stuff like that but when does the
city get crippled when they can't
collect money for a water bill or they
can't take money for a building permit
or a business license or anything else
can't charge for their uh pay uh their
uh parking meters okay it's that stuff
guys guys so the
cdk uh fraud that's being perpetrated on
them and the the extortion payment it's
getting wild guys it's going to only get
bigger so let me know what you think
about that so
far audio audio
audio here's something to think about
because this is the opposite of what
they thought was going to happen
Sweden went from basically a cash
Society to a cash L society and crime
has gone rampant now it's not strong
armed robberies it's not shaking people
down when they purchase things it's the
fact that people are going into people's
digital accounts when they do
transactions and stealing from them and
the cronar is their currency and people
are just getting ripped off simplest
purchases and they're going after these
people because they're not used to this
and people are very trusting and you
don't want to be trusting right now
don't give anybody anything the
advantage to going to a flea market this
is what started this conversation was if
you go to a flea market or the swap
meate you know and you carry cash with
you that's it that's that's what you can
you can get robbed for the cash in your
pocket okay well the problem with these
people these digital thieves is that
they're they're sophisticated and
they're coming after people more and
more and more so it's awful guys
absolutely awful next thing 7-Eleven
7-Eleven the convenience stores you've
been there I was it's funny I was at a
7-Eleven today it's at a 7-Eleven two
days ago so there are right now 272
7-Eleven closing here in the United
States right now why is that people
aren't buying convenience stores or not
buying gas or not buying sodas and a
Diet Coke and the lottery tickets no
it's the labor cost and the prices are
too high and the per ticket transaction
is absolutely off so you know you'd walk
in there you'd see a bag of chips I'll
get the candy bar too I'll get this you
know what let me get a coffee and and an
extra soda not anymore guys people are
not spending the money like they did you
know 6 months
ago now Richard sent me a great photo
because I've had this experience to me
where Richard's son went to a barbecue
joint and said gosh dad the menu was
kind of confusing I sit down for lunch
at a barbecue place at 40 $7 later for
his lunch so look at that guys isn't
that nice tray you know plastic utensils
paper plate it's nuts guys it's
nuts it's funny barbecue joints have
really gotten out of control the price
to eat out is nuts right now and I'm
telling you guys you have to be vigilant
wherever you go you have to it's funny
Vigilant with pricing right now you have
to pay attention to everything and it it
makes you look like a cheap guy it does
but how much is this how much is that my
my favorite thing was I was with my son
at the restaurant that he works at and
he recommended this one waitress we want
her to work our table and she came over
and drinks were ordered by everybody and
hey do you guys want this oh you want a
bloody marriage do you want this on it
this on it and this on it yeah and he
said God that was brilliant do you
understand she just added $10 to that
drink by requesting that
and uh if you want that so the
suggestive selling that these people do
you know and again it was a celebration
so it wasn't like I was sitting there
going whoa whoa whoa how much is that
going to be didn't do that probably
should have but you have to look at the
stuff right now guys because it is just
getting worse and worse and worse and
Richard son sorry man that is just
that's awful to get that you know shock
when you get to the
register let's talk about our sponsor
Hillcrest energy
Technologies now this is an exciting
company for a lot of reasons but uh it's
very simple their ticker symbol is
hrtf this is a pre-revenue company they
have a patented product that they have
gone public with and it's very exciting
now whether you believe it or not we're
going to have uh Green Technology around
us we're going to to have the Auto
industry continue the biggest problem
with the Auto industry when it comes to
EV cars and when it comes to solar
energy on your home or a solar farm is
the loss of energy between the solar
panels and the inverter when the
inverter gets it there is a loss of
power now an inverter is the product
that converts AC electricity to DC and
DC to AC now one thing that Hillcrest
has done and they've worked three years
on this is they have an inverter that
has zero loss of power every single
inverter from the ones on your house to
the ones in your so uh your EV car have
a power loss it's been the biggest
problem this company invented something
that has a zero power loss from the
conversion zero power loss in the
conversion which makes it very exciting
the advantage to this is
that this technology is patented you
couldn't reverse engineer it if you took
it apart it's something that they own
and they are out right now getting
strategic partners and setting the
company up for growth they spent over
$20 million to develop this and what
they did they did a marriage between
software and hardware and created this
technology and it's not something that
China can just duplicate or any other
manufacturer can duplicate this is
something that they have the exclusive
on and it's very very exciting because
for example every EV car out there
regardless of the model would save an
average of $2,200 an EV that's amazing
that's huge with this one technology the
other thing is regardless of what
happens with solar run homes if that is
a thing of the past or if it continues
you're still going to have the solar
Farms you know my kids schools all had
solar Farms put on them now imagine this
the average solar farm could save over
$10 million with this technology and not
having the loss of energy so the
advantage to this is that Hillcrest is
in talks with several car companies
several manufacturers right now they're
setting up uh Partnerships this is a
company that has a very low market value
of under $30 million guys once again
pre-revenue very exciting something to
look at but this is on board of how you
How do you save money this is it right
here and that's what Hillcrest came up
with so take a look at it today do your
own due diligence but the thing about
this that makes it incredibly exciting
is technology making it so that you can
save money because there's going to be
cars made you know think about this
think of uh uh Tesla and the fact that
they sell 150,000 cars a year think
about the savings on $2,200 a vehicle
that's where Hillcrest is at the
technology from their CEO to their Chief
technical officer they've created
something amazing take a look at it this
today it's exciting
hrtf is the ticker symbol and once again
guys pre-revenue but very exciting for
this okay company has a value under $30
million right now and uh it's trading
right at about 30 cents right now guys
so you can't get it you know it's not an
expensive stock but this could be
something if they had a major
announcement with one of their
Partnerships sky the limit guys so take
a look at uh Hillcrest Energy
Technologies today and uh I'll see you
guys
soon I'm going to finish this video with
these last couple stories Ashish wrote
me that he was in his Honda dealership
and uh been waiting for his car to be
done and again three days nothing they
can do Dan just sitting there watching
and waiting and they can't diagnose
problems can't fix anything a real real
problem stellantis stellantis is going
to have more layoffs guys stellantis is
just done you know this this car company
is a shell of what it used to be and
they've had nothing but problems and now
you know the executives are writing
stories in the Auburn Hill location
and this is going to be bad for Detroit
yeah it's going to be bad for anybody
when you have massive layoffs but the
cdk problem does not help car dealers
and car manufacturers either CU they're
not going to buy anything right now this
can take months once they get the switch
turn back on it's not going to get
turned back on in a day and get fixed
it's going to be a problem for a very
long time so please don't forget to hit
the like button please don't forget to
subscribe to the channel email me all
your stories at hello I allegedly decom
onward and upward guys I'll see you real
soon
[Music]
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