7.30.2024

Right now it is nice not to have any holdings in any of the companies

CrowdStrike, the software company that provides a broad security platform that includes various protections against intrusions, threats and vulnerabilities, etc. whose software update on July 19 caused a historic outage in Microsoft's systems. An outage that caused millions of computers to crash, leading to thousands of canceled flights. CrowdStrike lost nearly a quarter of its value in two trading days amid concerns about the company's operations following the colossal failure.

One of the affected companies is Delta Airlines, whose loss due to the outage is estimated at around $350-$500 million. According to CNBC's Phil Lebeau, Delta Airlines has hired high-powered attorney David Boies to seek damages from CrowdStrike and Microsoft. The rumor sent the CrowdStrike stock down 5% yesterday when CNBC reported on David Boies.

I think CrowdStrike will own the outage and claim that Microsoft was not involved in any way. CrowdStrike will take one for Microsoft and let itself be sacrificed.

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