Security Market Watch
SMW #2 - Transforming Las Vegas: AI, IoT, and Innovation Ft. CIO Mike Sherwood
Imagine having the digital keys to the bustling city of Las Vegas. Our latest episode gives you an exclusive tour of the tech landscape of Sin City with none other than Mike Sherwood, the city's Chief Information Officer. Offering a peek into the future, Mike enlightens us about AI, IoT, automation, and cybersecurity, and how these tools are reshaping the city's digital infrastructure. Get his insider's scoop on major tech conventions like CES and Oracle's event.
Ever wondered what's incubating in the heart of the Vegas Innovation Center? Mike lets us into the city’s hotbed of technology, nurturing startups from around the globe. From discussing the ambitious plans of tech CEOs to transform Vegas into the next Silicon Valley to leveraging local resources like two Air Force bases and drone pilots for autonomous vehicles, 3D printing and more, Mike's vision for the city is nothing short of impressive.
The chat takes an educational turn as Mike stresses on the need for cybersecurity education and automation. He shares his strategy to nurture a competent workforce, create educational pathways beyond college degrees, and motivate people to be a part of the change. We also touch upon the challenging discussions around compliance, the hurdles in getting tech people to adapt to change, and the inseparable bond between compliance and cybersecurity. Listen in for a stimulating dialogue that's all about embracing the future, today!
Imagine having the digital keys to the bustling city of Las Vegas. Our latest episode gives you an exclusive tour of the tech landscape of Sin City with none other than Mike Sherwood, the city's Chief Information Officer. Offering a peek into the future, Mike enlightens us about AI, IoT, automation, and cybersecurity, and how these tools are reshaping the city's digital infrastructure. Get his insider's scoop on major tech conventions like CES and Oracle's event.
Ever wondered what's incubating in the heart of the Vegas Innovation Center? Mike lets us into the city’s hotbed of technology, nurturing startups from around the globe. From discussing the ambitious plans of tech CEOs to transform Vegas into the next Silicon Valley to leveraging local resources like two Air Force bases and drone pilots for autonomous vehicles, 3D printing and more, Mike's vision for the city is nothing short of impressive.
The chat takes an educational turn as Mike stresses on the need for cybersecurity education and automation. He shares his strategy to nurture a competent workforce, create educational pathways beyond college degrees, and motivate people to be a part of the change. We also touch upon the challenging discussions around compliance, the hurdles in getting tech people to adapt to change, and the inseparable bond between compliance and cybersecurity. Listen in for a stimulating dialogue that's all about embracing the future, today!
Welcome to Security Market Watch, where we bring you cybersecurity market trends and analysis from an investment point of view. Our guest today is CIO for the city of Las Vegas and he talks about AI, iot, automation and, of course, cybersecurity. We're delighted to have Mike Sherwood on the podcast. Mike, welcome.
Speaker 2:Thank you, josh and Meg. It's great to be here. Las Vegas is always exciting, always something going on. But, as we've kind of been discussing and you've talked in your show and I'm sure you're going to talk more about it there's so many different security tools and opportunities out there. Briefly, talking about FlipraZero, i have one before it was banned on Amazon.
Speaker 2:So you know, i look at it this way. Look, there's a lot of tools out there. A shovel can do bad things. It depends on the tool and how you use it and who's using it. So I see the good in some of these tools and I see the bad. And I think you know, from my perspective as a city leader protecting the digital assets of the citizens, my job is to understand all the tools and kind of work on ways to defend against those type of tools being used for the wrong things. But other than that, it's Las Vegas baby. Everybody loves Las Vegas. It's the home of technology and some of the best and brightest people in tech come to Las Vegas every year for a variety of reasons. A lot of it are conventions, a lot of it to have fun, some of both. So thank you for letting me be here today.
Speaker 1:Yeah, thank you for being so gracious with your time. I'm curious, Mike what did you do with your FlipraZero, Or could you say, do you want to disclose that?
Speaker 2:Yeah, totally, we totally talk about it. It's not a secret. I mean it's banned down Amazon. It's not banned from use necessarily. I got it because I love home automation.
Speaker 2:I like tech. I mean I do it as a profession, but I also enjoy it on the side. Some people like to go fishing, i like to install cameras and colored light bulbs and things, So I enjoy tech. I'm not that boring. I like to go out and watch football and other things too, but I enjoy tech And so I was really interested in a multi-purpose tool. It's something that has such broad capabilities, i thought, as a tool that would be very interesting to learn from. I used to do forensic auditing as well as other types of IT best practices or audit business standards, so I thought it was a really unique tool that did a lot, and I was able to go around my house and do some things that I didn't really want to know that could be done so easily. But now that I know those things, it's much easier to defend if you know what the tool can do and how it could be used.
Speaker 2:So, again, i think it's a great tool. On the right hand. It's definitely helpful in looking over pay systems, badge access systems. I think Maggie mentioned garage door openers earlier. Maybe you did, josh. I mean, it's got some scary components But at the end it's a powerful tool And if it's not this company, someone else is going to make a tool like that. So hey, hats off to them. That's part of the innovative spirit is making tools, and again, any tool can be turned to bad use. I just think it's good for security professionals to have access to these tools so they know what these tools can do. It's a great thing.
Speaker 2:But again, you know, at Las Vegas we invite some of the best hackers from around the world to come here and hang out and talk and chat, and you know they don't always just hang out in their hotel room not doing bad things. I mean, there's things that happen here during Black Hat that you know we're just kind of on guard for, but it comes with the territory, it comes with being in the greatest city in the world And it just you know, those things come up, but cybersecurity is always top of mind, i don't think there's anybody in the industry that's in charge of technology, whether they're CISO or whether they're CIO or anything in between where you don't worry about your security posture, you don't put time into it. I mean, one of the questions I always get asked is what keeps you up at night? Well, there's two things.
Speaker 1:Someone get into the network. How do we?
Speaker 2:recover? How do we recover after it happens?
Speaker 1:Yeah, what is the big conference out there in Vegas?
Speaker 2:Well, big, there's more than one big one.
Speaker 1:But I'll give you the big the big, big one.
Speaker 2:If you want to talk about the biggest of the big, it's going to be CES the.
Speaker 2:Consumer Electronics Show, at least from a tech perspective. Other people might say the world of concrete. That's a big show too if you're in construction. But again, i mean, look at it. Everything that comes to Las Vegas as a convention has to do with technology. There's no business now. I don't care if you're selling hamburgers, pouring concrete, no matter what you're doing, you're using technology for your business. So, in my mind, everyone is in the technology field, and so. But from a technology perspective, you have CES, the big, big show. You have Cisco Live. You have Oracle's annual event is here. Reinvent from Amazon is here. If you want to know about where the biggest and best tech shows are, they're going to be here in Las Vegas at some point during the year.
Speaker 1:I always thought it would be Texas. I've been down to Texas for a couple of events, but now you're changing my mind.
Speaker 2:I love Texas. Texas is fun. I was in Austin. It's a great place. I love Dallas. But when you want to find out and know about I mean, how many places in Texas have a huge projection TV screen attached to the outside of their building, like Resorts World here does, very few.
Speaker 1:Yeah, it's true.
Speaker 2:Who builds a $1.5 billion sphere with a huge LED screen around it and internal entertainment conference center, other than in Las Vegas. You look at the best football stadium currently in the NFL. You might have some people say LA SoFi, but they have. You've got to experience the Legion Stadium. I would say the technology there is on par with any stadium around the world as far as the technology that's built into the stadium. So just a lot of great things here. That and that's why Vegas is known not just for an entertainment destination, where that was sporting destination.
Speaker 2:I got a plug for the Golden Knights. I know you have the Godby people that watch your show, that love hockey. Who would have thought six years ago a team in the desert would be the number one hockey team in the United States or in the league in general? So kudos to them for that.
Speaker 1:Awesome. I'm getting a message here that says Maggie Dillon ran out of storage. Did you did, maggie? are you out of storage? Are you still with us?
Speaker 2:I think she dropped off.
Speaker 1:Oh, she had to drop off. Okay, well, maybe she'll restart. Well, yeah. So what you mentioned, what keeps you up at night? What keeps the CIO of Las Vegas up at night?
Speaker 2:That was going to detail. So look, i mean it's, i think, anybody who's in these roles. Whether you're a CISO or CIO, you have one of the hardest jobs in the world and you get very little. You get very little attention or credit for it. Every day you have hackers trying to get into your organization Someway shape or form. They're out there.
Speaker 2:You know, with a name like Las Vegas, we see a little bit more than the norm probably but, all businesses have that threat lingering over them, and so what keeps me up at night is one, someone getting into our network. Two is the ability to recover, and you can practice these things. You can do all you can to defend, but you know what it comes down to when it happens. How well you execute on bringing things back up is the big, is the big key. So you know it keeps you up at night is gosh. Can we get there? How fast can we recover And what will it look like? And you know how do I protect my team. I have a great group of people. It's not I'm not Las Vegas. The team of IT professionals that supports me are the true heroes, and how do I make sure that they have everything they need to be able to get us back up and running?
Speaker 1:Well, cio, naturally you're worried about availability, that's.
Speaker 2:I'm worried about availability. I'm worried about our brand People trust in the name Las Vegas. They have a picture in their mind of Las Vegas, And so there's a lot on my mind ensuring that our elected officials have our reputation is maintained, And there's just a lot behind all that. But at the end of the day, you know, you do your very best. you get the best tools. you do the best you can. Look, I do sleep at night.
Speaker 2:I'm not awake, for years now but it does age you and it is something I don't think any CISO or any CIO doesn't have that fear of. It's not a matter of if it will happen, it's a matter of when. To me, so I'm more concerned on the recovery. How fast can I recover? It's more the speed, the recovery, to keep our name and the trust in our name intact.
Speaker 1:How did you end up being the CIO of Las Vegas? What is the direct line to that position?
Speaker 2:They had it opening. I applied and was fortunate enough to obtain the role. It's been a great role, i mean something, probably the best role of my career. I enjoy it. I enjoy the people, i enjoy the community. I enjoy the excitement. It's a great city to work for, but nothing special, no secret to getting it. I just want to hold on to it now and keep it going. But no, it's a great place to work, a great community. I think that's what really makes it special as the community.
Speaker 1:Is it a typical city? I've worked with state and local government before. It's very political, but being in Las Vegas and being so technology driven, is there a difference? Do you think? I don't know how many other state and local governments you've worked with, but is there a different culture at the city of Las Vegas than you would typically find at state and local government?
Speaker 2:I've worked in four different government agencies, almost all of them very similar in a lot of ways. I think what makes Las Vegas stand out is the character of the people and the character of the community Very innovative, focused, very community focused. And a lot of people would have think that because, unfortunately for Las Vegas, a lot of people know only of one street. They go to the strip, they come to Fremont and that's what they think is Las Vegas. I've had people call me that are friends of mine. What hotel do you live at? No, come on, I live in the suburbs, just like I did when I lived in California. It's the same thing. People have weird questions because of Las Vegas and it's because they don't see much outside of the casino they're at. So it just gives a different mystique. But I would say that the people here are very supportive of technology. They're very innovative thinkers, They're willing to try new things. I mean, what other city do you know just blows up buildings, builds new buildings, Right?
Speaker 2:What cities build pyramids. What cities do we? you know, castles, You name it.
Speaker 1:It's here somewhere, So I think it's just Don't you have a Statue of Liberty?
Speaker 2:Yeah, Statue of Liberty.
Speaker 1:We have it all.
Speaker 2:Paris Eiffel Tower, we got canals of Venice, i mean, at the Venetian and Palazzo. It's just a unique place which I think it has a unique community and feel, and I wish more people would take a little bit of time and just go off the strip a little bit and see what there is to Las Vegas. There's a lot to do here. Like I said, it's a great place to live, it's a great place to learn and it's a great place to play and work at, and so you know, we really value people wanting to move their business here, wanting to be part of the community. So we value that And I think all cities value that. But I think here it's just a little bit different and a little bit special.
Speaker 3:That's a good segue to talk a little bit about the Innovation Center that you oversee for them And I've done a little bit of research. It sounds like you got two locations, but what do you enjoy about overseeing that entire process? Obviously, your energy is phenomenal, the way you're talking about just everything Vegas has to offer. It's one of my favorite cities to visit. I was out there last time. I think I was at Treasure Island. But what inspires you about the Innovation Center? I'm sure it's changed a lot since it started, but how is that going for you?
Speaker 2:Sure, our Innovation Centers are fantastic. Our city council kind of brought that forward and believed in the vision. But again it started with what do you know about Las Vegas? And most people don't know us for technology. So what could we do to try to incubate new technologies, to help companies start up and really help the community? How do we get our young students and our diverse population to have an opportunity to create a startup and grow it? So we looked at going from everything from trying to bring the Facebook type, meta and Amazon type companies to Las Vegas. That's going to be hard. They're well established. So it was like well, if we can't bring a big company like that, how do we incubate one?
Speaker 2:Why don't we create a center that's open to the public but that allows businesses from around the world to get a feel for what it's like doing business in the United States? So we worked with companies from Australia came to our Innovation Center, and these are companies that have great technology but no American presence, and so they chose Las Vegas as their home. Obviously, we have very low taxes here zero on average citizens, very low property tax and great incentives. Elon Musk and Reno has his huge car factory as well as battery plant there, and so we do a lot of things to help companies grow here, and so that's really the impetus of the Innovation Center was to provide opportunity for our residents and for companies around the world that don't have a presence in the United States. Hey, why don't you start your presence in Las Vegas? We have some of the biggest shows of technology. You know, millions of people come to Las Vegas every year. Let us put your technology in the streets of Las Vegas. Let us showcase it, and we'll showcase you, the company, and let's see if we can help you. You know, make America your home, and if you grow here, maybe your headquarters will be here. That's kind of been the premise, and it's grown from that.
Speaker 2:We've moved on to doing drone soccer for kids. So we have a bunch of kids that are learning how to code. Because you know, what do companies need? Companies need highly qualified staff that have the skill sets. Well, if you're not building those skill sets, then you got to start building them, because the company won't come if there's no employees to hire. So even with the pandemic and the changes in remote work and those type of things, you still have to have the skilled labor pool. So our innovation centers also focus on really working with the community. Working with our diverse community our Latino community, our African-American community, our Asian community but providing them opportunities to use our 3D printers, how to prototype, how to gain funding. It takes a community to be successful and these innovation centers really are about providing opportunity and providing education and that next generation ability to be able to support the technology of the future. It's just an exciting time.
Speaker 1:Absolutely.
Speaker 3:You're on the back room. That sounds amazing.
Speaker 1:I never would have thought. I think of Silicon Valley, and which kind of brings me to my next question, Mike. In 2022, a group of tech CEOs and Las Vegas officials met to basically turn Vegas into the next Silicon Valley. To what degree do you think they'll succeed And how does that play into the innovation center?
Speaker 2:Look, i think to make the assumption that we are going to replace or be equal to or in any way compete one-to-one against San Jose and the San Francisco region. I think it's a great ambition, great opportunity. I think we have to find new verticals And I think Silicon Valley has their special capabilities. We're working on VC capital, but the home of capital funding is going to remain there, just like cybersecurity. There are some great areas throughout the world that are known for cybersecurity. I think for us, it's going to be autonomous vehicles and testing. We do a lot of that here. It's going to be cybersecurity. We have two Air Force bases. We have already drone pilots here, so we have opportunities in drones, cybersecurity, autonomy. Those are in manufacturing. So 3D printing and advanced manufacturing. I think those are the technology verticals of the future And I think you're going to find and you're going to see here in the next few years where Vegas is a leader in a lot of those areas. Are we going to replace Silicon Valley with all the great startups and all the things they do?
Speaker 1:No.
Speaker 2:You know, austin's trying to do the same thing. Every city, i think, is trying to attract that business. It's no different than I look at the 40s and 50s, where you had automobile manufacturing. Even in the 80s, everybody wanted to have the next. You had North Carolina big BMW factory and all these people wanted the big factories. I think you're going to see a spread across the United States. It's what can Las Vegas do? What resources do we have that can make us stand out? Another big one that's that'll be all over the western half of the United States is water technology. How do you conserve water? How do you, you know, manage it? What kind of smart technology can you put around water? I think, obviously for obvious reasons, las Vegas has a good shot at being a leader in those type of green, sustainable technology areas.
Speaker 3:Absolutely. I have a question And, speaking of the water technology, the desert area, both you and I we have ties to Southern California. You talked about technologies replacing one another And you and I had previously spoke about this. But, going a little bit off topic, there are so many exciting things that you've mentioned. I wanted to just kind of ask a question. With so many companies leaving California Now, that is a great place for people to relocate their business to Vegas in particular. What with your ties to the government And the reason I asked this and I'm sorry if I'm going off topic, josh, but the wheels are going now, it just comes.
Speaker 3:I've spoken to a CIO of a state I'm not going to with regard to him, i'm not going to say which state it is, but one of his biggest concerns was he has a team of 150 people and 60% are ready to retire yesterday And his concern is that the government is about 20% under where they need to be on salary, and you and I talked about this. Obviously, vegas may not have that big of a problem, or Nevada as a whole, just because of some of the things that you have there entertainment-wise, but what are you doing to help out Southern California or any of your former networks to get to Las Vegas, especially not at? the Raiders are there. You've got the Super Bowl coming. I'm just I'm curious if there's any type of backup plan or what advice you could give to other CIOs that might be in a similar position.
Speaker 2:Well, our plan to help Southern California is to show them how great it is to live here in Las Vegas and to have them be part of our community. That's how we'll help California ease their population issues, help them by moving some of their people over here. Look, i think everybody in seriousness everybody has staffing challenges coming. That's just going to be where it's at. We're putting a lot of time and energy into automation now. Obviously, there's genitive AI. There's things you can do to automate certain areas. You'll see some shifts and flows in staffing.
Speaker 2:I think you have to start early. I think CIOs and people that lead technology got to look at their own operations and start thinking about what can they do to automate. What can they do? I mean, look, when I started in technology, going around and helping people hit control P to print a document was a real job. I mean that's inward, perfect. I was doing stuff like that. How to use a floppy drive? I mean, no problem, i can format A. I'll show you how to do it, sir or ma'am. It was great when in my 20s, that was a job.
Speaker 2:Today, we don't need people to help us set up our cell phones. They kind of set themselves up. We know how to do it. I think a lot of what we need to be working on is educating our workforce, working with our local universities to make sure that they're teaching and providing the right technology training and skills. There's a lot government agencies and corporations can do to start ensuring We don't do trade schools.
Speaker 2:There's not a lot of. There's a lot of great individuals out there that college isn't for them Or they don't seek that, but yet we don't provide any real outlets. I know Google talked about this in the past. There's been some big tech companies bring this up, but I think we haven't really fully utilized trade school mentality to really help people advance. There's no reason why you can't learn computer technology to fix laptops and be a network engineer necessarily may not need a college degree to do that If that's what you want to do for a job.
Speaker 2:I didn't get my college degree until I was in my late 20s, early 30s. I was in technology. I was doing well. It was only when I wanted to go up higher in the chain management and do more where I realized that that became important. But I think there is a real fear out there And I think you know there's one thing to know about a fear.
Speaker 2:There's another thing to start doing things, to start taking action, and I think a lot of people talk about issues. We don't take any action, and that's kind of. We've talked about our innovation centers. That's kind of the action We're working with the community. Drone soccer is really to get kids in third, fourth, fifth, sixth grade exposed to technology, to get a drone, have a drone, learn how to code, learn a little bit about drones and their operations and their maintenance, because that's gonna be a future. And so what are we doing to help the youth, especially those disadvantaged youth, break the cycle and get into a career where they can make money. And the more money people make, the more, from a government perspective, taxes you're gonna earn. They're gonna spend money. So I want everybody to get great paying jobs, spend more money, and that helps everyone, helps the entire economy.
Speaker 3:That's really not a great answer, for sure.
Speaker 1:Specifically in cybersecurity. we know there's always a shortage of workers in cybersecurity, so you've addressed sort of the youngsters coming up and what's on your radar, basically to bring technology to them. What is the city doing to encourage maybe college age or older folks to get into cybersecurity, given that there's a shortage in the workforce?
Speaker 2:You know we're doing all we can. I actually go to the university and talk to them about cybersecurity, why it's important, why it's a great field. Again, i think a lot of technology leaders need to get out of the office. So whether you're private or public doesn't matter. You gotta get out there and invigorate people to want to do these fields. I think there's a lot of women in technology that decide not to go into cybersecurity because there's no one rooting them on, no one showing them a pathway. To me, i don't care who you are. We said youth a lot but look, i want to take people that are bartenders, that want to become cybersecurity professionals. Let's find a pathway to get them trained and give them an opportunity. Look, we all can kind of see, and if we don't, we should be looking. Ai and all these new automation tools. I mean they're making burgers now with robots. You can go to the bar here at the planet Hollywood and, i think, the Venetian. We have robotic bartenders. Those things are coming. I mean, how many of us have gone to a hotel now where we use our phone to check into? there's no front desk. You just get your key and you go right to your room. So what happens to those jobs that are there? So how do we invigorate and get those people excited about the technology field And for cybersecurity?
Speaker 2:I think people feel that it's hard to do. It's really kind of the secret world here. You got to get people exposed to it. You got to get them excited about it. They're a great paying job. I think you mentioned it. I mean, they're great opportunities there. How do we get people excited? How do we get them as excited as I was when I was a kid I wanted to be a firefighter.
Speaker 2:You know that was exciting because I watched TV shows I'm going to date myself, like emergency and other types of TV shows where firefighting looked cool And so I wanted to do it. But then I realized I was short and it wasn't really the career for me But tech was cool. So I kind of got it and it fell into technology. But again, i think it's just a lot of. It's getting tech leaders out there talking about it and showing that the capabilities I mean. Look, if I asked fifth and sixth graders what they want to do for a job, i guarantee very few are going to say enter the cybersecurity field. Some of them might say programing, coding. I want to fly drones, but we don't talk enough about cybersecurity until it's way later. And that just starts with the technology, and that just starts with cybersecurity education. We don't do a good job about teaching our young people about cyberbullying and all those other issues that go around with access to the internet.
Speaker 3:I was going to say I feel I feel it's just a matter of terminology, changing up a little bit. Obviously it's cybersecurity. But when you're talking to children and I don't have children, so mark me if I'm wrong here But I would say, what if we talk about protection? You know, you mentioned you, you were interested in being a firefighter. A lot of kids wanted to be firefighters, police officers, these types of things. I wanted to be an astronaut, You know. So how would we talk about protection that way, Switch up the lingo, talk it's a cybersecurity, business security, overall kind of umbrella and then break it down. Obviously there's different types of cybersecurity and we all know the different niches that can come along with that. But I think that that would really kind of get people a little bit more excited. I think I've seen it. I'm sure you have Josh in sales. You start talking cybersecurity and you literally just see people shut down, They just completely shut down.
Speaker 3:They think oh they're already out of my scope. I don't even know what you're talking about. So have you experienced that in your career, mike, where you just start, you know talking to people and you can tell that they it's already over their head or they zone out a little bit?
Speaker 2:Most times I mean, look it's technology for some people is very hard to understand, and so anything about tech you say cybersecurity, that's like the complete party killer, unless you're around people that know what it is and enjoy that line. Most people don't want to talk about cybersecurity And that stems from everything. I mean we have seniors who are scammed via spear fishing and fishing, give up their bank accounts. We don't do a good job collectively. We talk about, you know, in school you practice fire drills where you get under the desk If there's an earthquake or you know whatever. You do all that. We don't do anything about talking about cybersecurity and getting people aware. We only talk about the scams and the people hurt. We never really talk about it. And the same was in business. I guarantee you that most CEOs don't put a lot of emphasis on cybersecurity until after they've been breached or hacked or had a problem. Then, all of a sudden it's like how come we haven't been defending ourselves? And then the wallet opens and they buy all the tools that they should have bought two or three years ago.
Speaker 2:I think times are changing. You know People are. They're seeing the damage. I mean I definitely when I talk to different. You know groups around the community cybersecurity. They're more alert now. They're more aware. I worry most about small business. Small business is the backbone of America. It's what generates the most jobs. It generates the newest innovations. I'm more worried about that vertical, getting more cybersecurity aware And I think it's just a. It's part of government's responsibility, part of school's responsibility and part of the private business community to make everyone cybersecurity aware.
Speaker 1:Have the casino owners bought into this whole cybersecurity thing?
Speaker 2:Look, there are a world upon themselves. I think, yes, i definitely look when you have money, it'd be like banks, do you do? we think banks have cybersecurity in mind? Oh, i think they do. You know, do they spend enough? you know, do what they do. They're very secretive. I mean, it's kind of the nature of the game. You don't want to advertise a lot about how you're protecting your assets. But yeah, i think that industry takes cybersecurity. I mean, i know the professionals and I know they take it very seriously. I think most government agencies now across the US a lot of my peers I talk to, state agencies take cybersecurity very, very serious. Now, the ones that are in charge, the ones that have the oversight, the ones that are staying up at night when you ask about, you know what keeps us up, those of us that are up at one and two in the morning worried about our ability to recover they're taking it seriously.
Speaker 3:I have a question And so I've been talking to a lot of compliance regulatory type firms, especially in Sintek, and as investors are coming to us and our networks asking about specifically and you're just a little bit different than you know the rest of America, obviously the entertainment capital. What would you say to investors that they should really focus on And you mentioned casinos very secretive in and of itself What would be some advice to give to them as far as areas they could assist in? Obviously, we know about new technology, we know about startups, these types of things. Do you need more manufacturers for products? you know as far as the compliance regulatory around that, or example the government is looking for the economic development administration, for instance, has over up to 10 billion worth of funds in the next decade to get that funding and bring it to somewhere like Las Vegas. What would be some good options for them to look at overall from a compliance standpoint?
Speaker 2:One. you got to start with compliance. You got to start looking at best practices, following ITIL, following some of the core competencies. I think any investor investing in any company needs to look at how well that company is managing their computer portfolio or their data. I'm more concerned about the data portfolio how they're managing that. What kind of controls do they have? There's a lot around that that you're asking for, but I think it.
Speaker 2:look, i'm not a compliance fan either. trust me, it's hard to comply, do your day to day operations and incorporate all these new rules into what you're doing, but I think it's important. I definitely think that you need to have experts help you and guide you through the process. It's not something you're just going to do on your own. You can start it, but you definitely have to have So if you're going to want to take advantage of the grants of the future.
Speaker 2:that's all requires what I would consider very precise ways of ensuring that you have the right compliance and the right outlines for that compliance, and you're going to generally need to have some assistance to get there. So you're using your network, talking to your peers, seeing what they have available and then reaching out to technology professionals that specialize in those verticals to help you build at least a roadmap and foundation to move forward. But I can tell you, compliance is not going to go away. It's only going to increase and it's going to be not just limited to banks and financials or casinos, it's going to be all lines of business. There are going to be standards. I think we've seen GDP from Europe. as far as data standards, we're going to see those standards continue to trickle over into the United States. So be ready.
Speaker 1:Yeah. What's the biggest roadblock for organizations implementing regulation or compliance requirements?
Speaker 2:Change is hard, my friend. Yeah, you didn't have to comply and you have to comply, it's hard.
Speaker 2:It's no different.
Speaker 2:When I was a little boy, my mom told me to change the sheets. I didn't want to change. I went out and play. So I'm not going to say I didn't change my sheets, but I am, in a way, saying that when I was seven and eight I wanted to go outside and play, so changing the sheets wasn't important. After I got into my 13, 14, and started talking to people and having friends over, changing the sheets became an important compliance perspective.
Speaker 2:It's no different with compliance. Change is hard. You haven't had to do something with a specific way or a process where it was more, and it's harder for smaller shops to do these. When you have a smaller IT department, everybody can kind of do everything, and so there's not a lot of policy or business process needed because everybody's there Up until someone leaves the corporation or the business. Then it breaks down, and that's why policies, procedures and compliance is important And so again, it just thinks you've got to embrace it, you've got to understand that it's coming. You can't be afraid of change And it's crazy. I don't know what you guys, how you feel, but I've noticed most technology people are some of the most hardest people to get to change.
Speaker 2:They're very change-resistant, absolutely, which is crazy to me. I mean, technology is all about change.
Speaker 1:It changes all the time.
Speaker 2:Yeah, if not, i'd still be operating a mainframe helping people control P print documents that are word perfect. I mean, come on, it's changed a lot from the 90s till today. But tech people are kind of sometimes in denial about changes in technology And look, it's coming And we're all going to have to. As much as I don't like it, we're all going to have to make sure that we're following these regulations and embracing them And in the end it is for the betterment of the organization.
Speaker 1:Yeah, and Maggie's point what specifically do companies need? Is it more budget? Is it a workforce? What is the pain point? that is, what would make the change easier to deal with, so that they're not changing begrudgingly the way that you begrudgingly change your sheets.
Speaker 2:Education, education.
Speaker 1:I'm changing.
Speaker 2:I'm a convert. I'm converting. No, it's education. It's education. It's getting people to understand why it's needed. Yeah, remember when you haven't had to do this for all these years. Now there's a reason, and I can go back to simple things.
Speaker 2:Why do we brush our teeth? Well, we don't want to get cavities, okay. Why do you need to have compliance One? you don't want to lose data or have it leaked out of your organization. You don't want to be spearfished. You have these policies and procedures to protect your organization, because these are the best practices, just like brushing your teeth and using a mouthwash our good dental hygiene practices. We got to apply those same techniques in our business lives as well and have these things.
Speaker 2:Most of all, businesses don't have an HR manual. Well, how do you get one? You hire somebody to help you get a template and get it going. It's no different. American business just needs to start emphasizing policies and procedures and that kind of falls into compliance. But if we don't start self-policing ourselves, then we're going to have big government, the federal government start mandating policies Right, and the more stores that have these big data losses and data breaches, the targets the Home Depots that's going to put pressure on all business. So we need to do a better job together or it's going to be. We won't have a chance to say what we want. It's going to be told to us what we have to do.
Speaker 1:Right, right.
Speaker 3:So you really just stirred something up here, and I want to go back to that real quick?
Speaker 3:No, in a good way, because it needs to be talked about. So, for instance, i'm currently working with a very large nonprofit organization. They work with 1,600 different partners. I'm also working again with these compliance firms. Compliance firms are looking for asset managers. They're talking about Eastbound over to Asia, australia, europe, you know, wherever the place globally. Okay, but I want to go back to the education piece, because that's where it starts. And how do we bridge compliance with cybersecurity as we build out new programs? Because there's a lot of tech schools that want to build out cybersecurity, but they're not adding the compliance piece in, because it's usually like this with both of those areas. So what, in your opinion? you're obviously a great bridge builder of people and you're a great leader. What would you like to see in that area that you've learned, not only in Vegas, but obviously your experience with California? you saw what happened with the state there. What's happening now? What would your advice or what would you like to see in that regard?
Speaker 2:Let us see a cage match between compliance, people and cybersecurity, and let's duke it out.
Speaker 3:Let's duke it out here in Las Vegas, great place to work.
Speaker 2:We're already going to have Musk and Zuckerberg cage fight. We could do a couple right after you know, cfo versus CIO. That might be fun. I don't have a good answer for that one. I mean, look, it's coming. Look, i've been in this business a long time now I don't want to say how long, but a long time And it's.
Speaker 2:There's that tension between spending money on compliance and business leaders not wanting to resisting until they're audited and then they decide again. I think it's education, i think, and at some point we're going to need regulation to force us to kind of do this, and I think we are getting closer. We're seeing more legislation as these data losses keep stacking up. You have political tensions around the world. That's causing cyber I'd call it angst, or cyber fear, where people are fearful that their companies are going to be broken into, shut down. You know, i know, other than offering, you know, education, more disclosure and knowledge, it's, it's a difficult way to make.
Speaker 2:How do you bridge those two divides together? It's difficult. I think it's getting easier. I think it's not, as is not as contentious as it was. I think there's more understanding, but look, compliance is a tough. Even asked me what would I rather spend money on compliance or furthering the Organization through technology? That's a tough call. It's really a leadership call to CEO call. It's a board of directors call. But unfortunately, i think you know you're gonna have to balance it out now. You're gonna have to start putting more as much as compliance as you are Moving your organization. Because what good does it do if your organization so far ahead But your data stolen because you didn't have the right policies and procedures and compliance mechanisms in place, or your secret formula was stolen because you didn't have good internal controls?
Speaker 1:right. If you can organize that match between the compliance people on the cyber security people, i will get Chad Beckman, who is the CEO of trust map, to sponsor it, all right.
Speaker 3:I'll drop a little idea for your innovations to Center, so you can be the first one on the map for you to create a program or some type of innovation to bring those two parties together. She highlighted in Vegas with all the bells and whistles, let it offers to and then others can follow suit. I think that's a fantastic idea and and if it has to be a cage match, what better place to do?
Speaker 2:You're gonna help me build the bridge.
Speaker 3:I Hold the sign.
Speaker 1:Yeah, that's that's kind of the the trust map wheelhouse is. You know, cyber security performance management is taking compliance And we're saying how do you build on that, how do you take that? and you take it further. And often You know that's a tough sell. Compliance easy sell, innovation process, automation, integration and optimization is not an easy sell. It takes money, it takes money.
Speaker 1:Alright. Well, this was a great show. Mike, Thank you so much for joining us today and again, thank you for being gracious with your time. I know that you're busy. You've got a lot of a lot of things to do, your important guy out in Vegas, and you keep the lights on. So every next time I'm in Vegas, i'll think of you.
Speaker 2:Well, find you, we'll go out and we'll chat some more, but thank you both, josh, for letting me be here today, and it's all your listeners. You know Vegas is open, it's ready for you. Come on out. You know, we have sports, we have entertainment, we got gambling, beaches, beach clubs, you name it. We got something for you, so come on out.
Speaker 1:They're beaches in Vegas.
Speaker 2:Yeah, towel Beach Club got fake beaches. Yeah, they're not. You made your own beaches, but hey it's crazy big space. They're in the way base got a beach.
Speaker 1:Vegas is a made-up place.
Speaker 2:We gotta get you out more, josh, come on. You got too much compliance and tech. you know We got to get you out behind the tech.
Speaker 1:I only started gambling like three weeks ago. We have mystic Lake Casino. Who my friend? we invited my, we invited a couple of our, a couple of our developers who live in Vegas, to go to mystic Lake and we're like, oh look, here's our casino. They're like this is not a casino, this is the bathroom. It's not a real casino. But I only started gambling maybe three weeks ago And I only do roulette, but I've got to come out to Vegas, come on out space.
Speaker 2:There's a lot to do. You don't even have to gamble here. There's so many things to go see and do Amazing things. I'll give you a list. You get out here. I'll give you a list. All right, you won't be bored.
Speaker 1:It's a deal, all right. How do people find you if they want to look you up?
Speaker 2:I'm on LinkedIn. Obviously You can always go to innovate Vegas. It's a website where we dedicate it to technology in Las Vegas. A great team of people that will help Either relocate a business, help you start a business, whatever it might be. But I'm available to find me. Look for me and I'll reach out.
Speaker 1:And you'll my your Michael Sherwood on LinkedIn. We've been calling you my share but for those who are listening, you'll find him at Michael Sherwood on LinkedIn. and Maggie How? how can folks reach you?
Speaker 3:Same LinkedIn or you could always go over to Instagram. At championship, underscore, energy and Title came from my mother, who was an equestrian champion, but also, that's just I operate. Mike, thank you so much for your time. This has been great. Josh, what a trooper he has had COVID on this call and just plowing out questions, and we are so glad that you showed too. So thank you very much.
Speaker 1:Don't, don't let this polished exterior fool you. I'm dying, i'm a zombie right now great job though. Thanks to you both and everybody. You can find me on LinkedIn as well, or you can shoot me an email at jay brooning at trust mapcom. Thank you everybody, and thanks for listening to this episode of security market watch. But