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Former CIA and NSA Director: “We Kill People Based on Metadata”

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cell phone metadataAt a recent panel debate at the Johns Hopkins University, the topic of metadata was discussed. The panel members were Georgetown University Law professor David Cole, former CIA and NSA director Michael Hayden, and White House correspondent extraordinaire Major Garrett. Metadata is “data about data;” for phones, metadata includes the who, what, when, and where of your cell phone call without caring about the why. The who and when metadata can then be combined to accurately track how often calls are made between any two parties.

Also read: Crypto Anarchists Flock to Berlin to Escape the NSA

Metadata “Kills”

David Cole has previously explained the usefulness of metadata to the NY Book Review:

Of course knowing the content of a call can be crucial to establishing a particular threat. But metadata alone can provide an extremely detailed picture of a person’s most intimate associations and interests. and it’s actually much easier as a technological matter to search huge amounts of metadata than to listen to millions of phone calls.

Elsewhere in the space-time continuum, former NSA General Counsel Stewart Baker has outlined the NSA’s currently practiced belief:

Metadata absolutely tells you everything about somebody’s life. If you have enough metadata, you don’t really need content.

After both pieces were brought up in the debate, Former director of the NSA and CIA Michael Hayden stated:

David’s description of what we can do with metadata, according to our mutual friend Steward Baker, is absolutely correct. We kill people based on metadata… but that’s not what we do with this metadata.

The General quickly qualified his statement by suggesting that only non-US citizens’ metadata was used in this way. However, many in the constituency still feel that the mere potential unconstitutional abuse of the NSA’s domestic metadata database should obviously be under more scrutiny. Especially given the ways that the NSA has been shown to use metadata.

In a previous report leaked by an unnamed NSA drone operator which was also corroborated by Snowden’s leaks, it was revealed that cell phone metadata such as calls made and received and geographic location to determine targets. These moves are made without any human factor to confirm a suspect’s identity. The unnamed drone operator said:

People get hung up that there’s a targeted list of people. It’s really like we’re targeting a cell phone. We’re not going after people – we’re going after their phones, in the hopes that the person on the other end of that missile is the bad guy.

The USA Freedom Act has made it through the House of Representatives and does represent a push back to the NSA’s metadata collecting powers. However, the legislation, which was held up in Senate, only prevents the NSA from viewing US citizen metadata without a warrant that is granted by a secret court, and does not offer protections to foreigners abroad or within America. As the world’s understanding of metadata and its potential abuse grows, so should the public awareness of privacy and security. Unfortunately, your metadata is still fair game.

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Giulio Prisco is a freelance writer specialized in science, technology, business and future studies.




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  1. rich godman

    December 23, 2014 at 7:14 am

    Meta data in a digi photo is how they caught McAfee. Imagine all meta data in Alt/crypto/BTC and the blockchain

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Artificial Intelligence

YEXT: An Invisible Force In Artificial Intelligence

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YEXT, Inc. (NYSE: YEXT) is one of those behind the scenes companies involved in Intelligence Search that plays an important role in Artificial Intelligence. What does that mean? Remember the Amazon commercial? “Eco, order a 12” Pizza with pepperoni from Stromboli’s and have it delivered”.

Today the vast majority of online searches go through third-party sources such as data aggregators, governmental agencies and consumers. The net result of this third party sourcing has been to produce “best guess” data that can often miss or misstate the target data field.

YEXT developed a better way to source critical digital knowledge.  For example business clients use YEXT to update public facts about their brands. They are building their based on the rapid and ever changing nature of data.  So far the YEXT Knowledge Network offers over 100 services to more than 110 corporate clients and has over $150 million in annual revenue.  So could YEXT play a key role in AI,  the next big thing?

How YEXT Works

Most of us are familiar with big time search engines like Google, Google Maps, Facebook, Instagram, Bing, Cortana, Apple Maps, Siri and Yelp.  These pioneering companies are the major drivers in information search today.  However, we also know, their accuracy is not exactly ideal.  

This is where YEXT steps in.  Their knowledge engine platform lets business manage their digital knowledge in the cloud and sync it to over 100 services including the kingpins of search noted above.

Intelligent Search is the structured information that a business wants to make publicly accessible. In food service it could be the address, phone number or menu details of a restaurant; in healthcare, the health insurances accepted by a physician or the precise drop-off point of the emergency room at a hospital campus; or in finance, the ATM locations, retail bank holiday hours or insurance agent biographies.

Artificial Intelligence Offers a Potential $10 Billion Market

Improving search results in general is nice but not very sexy.  It doesn’t make you want to beg for more information.  However, when you consider the role of Artificial Intelligence (AI) in our evermore data intense world, the importance of Intelligent Search and the opportunities for YEXT becomes a compelling story.  

The AI trend is already underway as YEXT is increasingly using the structured data on their platform to expand or add new integrations with vertically specialized applications, voice-based search and AI engines.

Just Right For Big Data Applications

YEXT customers use their platform to manage their digital knowledge covering over 17 million attributes and nearly one million locations. These customers include leading businesses in a diverse set of industries, such as healthcare and pharmaceuticals, retail, financial services, manufacturing and technology.

Major customers include: AutoZone, Ben & Jerry’s, Best Buy, Citibank, Denny’s, Farmers Insurance Group, H&R Block, HCA, Infiniti, Marriott, Michael’s, McDonald’s, Rite Aid, Steward Health Care and others. The list is growing.

Management believes the market for digital knowledge management is large and mostly untapped with over 100 million potential business locations and points of interest in the world equaling over $10 billion.  

Shooting For Acquisitions and Broad AI Penetration

Founded in 2006 by serial entrepreneurs Howard Lerman (CEO) and Brian Distelburger, President these two are typical software guys whose vision appears much more broad based the their current focus with YEXT.  Here is where the prospectus from their April 2017 IPO offers some mystery and excitement to the story.

Unlike most rapid growth tech companies YEXT had no urgent need to go public.  They generated almost $60 million in gross profit in 2016 before heavy marketing costs resulted in a loss of $26.5 million.  Even so, they still ended the year with $20 million in cash. That’s a fair distance from being destitute.

The company’s real need for the IPO was to establish a liquid public market for the stock. They raised about $123.5 million, all of which will go into the bank.  The company is debt free and there are no insiders selling stock.  Very interesting.

Strong  Financial Results

For the latest reported nine months ended October 31, 2017 revenues grew 38% reaching $122 million.  The good news is the gross profits reached a record 75% or $90 million.  All of this was spent on sales and marketing to expand the business.  When all the beans were counted, YEXT lost $50 million producing a $30 million negative cash flow.  The balance sheet remains liquid with $120+ million in cash and securities.

FYI: In spite of some top notch bankers underwriting its IPO and analysts from those same five firms covering the company, the stock has done almost nothing for investors.  This $1.1 billion market cap was recently hanging out around $12 about the same as the IPO price.

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 114 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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Cybersecurity

This Tool Lets you Scan the Dark Web for your (Stolen) Personal Data

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A recently revealed a dark web scanning service was launched in the UK. The service is called OwlDetect and is available for £3,5 a month. It allows users to scan the dark web in search for their own leaked information. This includes email addresses, credit card information and bank details.

The service reportedly uses online programs and a team of trained experts to scan hundreds of thousands of dark web websites in order to look for their customers’ data. If any personal data is found, the company helps its users act in order to keep themselves safe. It was launched in an attempt to remove reliance on big companies, as users usually only know they were hacked after these companies make it public.

In a few cases, however, the information is revealed a long time after users are hacked. Earlier this year, Yahoo confirmed that, at least 500 million user accounts were compromised by what they believed to be a “state-sponsored actor”. The breach reportedly occurred in 2014, so it took users two years to know they were hacked.

Chairman of the National Cyber Management Centre, and member of OwlDetect’s advisory team, Professor Richard Benham said:

Today the risk of having your personal information compromised is greater than ever. From messaging apps to online shopping and dating websites, we trust a huge number of companies with our details, and there are endless opportunities for those details to fall into the wrong hands.

Crawling the Deep Web

The deep web is, as we all know, beyond the reach of regular search engines. That may be about to change in the future, as more and more tools keep on claiming to be able to crawl it in search for specific information.

According to their website, this new service has a database of stolen data. This database was created over the past 10 years, presumably with the help of their software and team. A real deep web search engine does exist, however.

A few days ago, Hacked.com reported how the Department of Defense’s deep web search engine was to be enhanced by a recent acquisition. This search engine, named Memex, is reportedly able to crawl 90 to 95% of the deep web, presenting its search results in sophisticated infographics.

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Companies

Facebook Looking into “Disrupting Economics” of Fake News Sites

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Facebook

In a Facebook post Friday night, founder of the popular social network Mark Zuckerberg took time to outline the steps the company will take to tackle its “fake news” problem, which has been a hot topic in the wake of the election. One way the social media behemoth plans on doing that is by making sure fake news sites can’t profit. 

Mr. Zuckerberg calls it “disrupting fake news economics.”

“A lot of misinformation is driven by financially motivated spam,” he posted. “We’re looking into disrupting the economics with ads policies like the one we announced earlier this week, and better ad farm detection.”

Mr. Zuckerberg underscored that Facebook takes “misinformation serious” and reinforced the company’s goal “to connect people with the stories they find most meaningful.”

The social media tycoon admits “We’ve been working on this problem for a long time.” There’s more work to be done, he says.

“Historically, we have relied on our community to help us understand what is fake and what is not,” he wrote in the long post. “…The problems here are complex, both technically and philosophically. We believe in giving people a voice, which means erring on the side of letting people share what they want whenever possible. We need to be careful not to discourage sharing of opinions or mistakenly restricting accurate content. We do not want to be arbiters of truth ourselves, but instead rely on our community and trusted third parties.”

Mr. Zuckerberg claims the percentage of misinformation is small, then outlines what Facebook will do, including stronger detection, easy reporting by users, third party verification via fact checking organization, warnings for stories flagged as false by other users, and raising bar for articles which appear in related articles suggestions.

“Some of these ideas will work well, and some will not,” he admits. “But I want you to know that we have always taken this seriously, we understand how important the issue is for our community and we are committed to getting this right.”

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 1 rated postsJustin O'Connell is the founder of financial technology focused CryptographicAsset.com. Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere.




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