Quarterly Update

Many now-large technology companies have pioneered, innovated and fought their way forward to incredible growth, profits and market dominance in this environment. Others have exploited easier, less regulated, even less ethical paths to some form of success. And still others have chosen entirely corrupt and criminal means to steal and profit from the data behind these economic and social engines. We bear witness to significant data hacks, breaches and exploits in the media almost weekly.

The reality is, the arms race between the good guys (the white hats) and the bad guys (the black hats) is not ending any time soon. Criminal activity aside, there are real needs for many of the original legislations that surround the collection, protection and use of personal data to evolve in line with the ever-increasing powers of the technologies now available.

And that is happening. Evidence, the GDPR from earlier this year. These new rules allow the rights of EU citizens to catch up with the capabilities available to the companies who collect their personal data through digital engagement of one form or another. The rules give citizens a new level of control over who has access to what information and for what purpose. These are far reaching rules, and they have teeth — both of which are necessary. The first, because the nature of the internet is such that global barriers to competition and market activity are almost non-existent today. And the second, because without pain there will be no gain. And these are just the most recent rule updates. They will not be the last, as you will read.

We encourage all our companies to go global as fast as they can. But in doing so, they must respect the rules of engagement in each of their chosen markets, and keep pace with them as they evolve. All our companies are adapting. Several are participating in the evolution of this privacy and security industry. Others are simply taking these changes in stride and continuing to build competitive, ethical, growing technology businesses, including several with significant announcements to share from the Quarter.

I hope you will enjoy reading about it all as much as I enjoy sharing it with you. Thank you for your continued interest in Wesley Clover and the businesses I am involved in around the globe.

Kind Regards,
Terry Matthews, Chairman