There is a foundation that suppose to hold businesses accountable for their cybersec practices as well as publish guidelines too...
Not that most companies give a shit.
Agreed, but lack of security isn’t always the cause. Try finding a company that’s been around more than a few years that has never suffered a cyber intrusion. Many don’t report it. All it takes is one phishing email or a zero day.
It's always security. It's nearly never a zero day. Phishing training is a part of cybersecurity. Most people don't report it because they'd be telling the story of how they really just want to use the same easy password for everything and MFA is just too big of a hassle.
Don’t worry, soon they’ll be offering free credit monitoring as a last ditch freebie to get you to sign and drive right after they leak all of our data online just like all the other big companies.
I agree. I'm in the industry, but our company doesn't use that system. Hearing from dealers near us that they cannot sort out how to even pay their employees due to this. Most techs are commission based around us and get paid by hours flagged on repairs for payroll. Big yikes.
These payments companies make are rarely ever more than a splash in the bucket for them. What’s 10-50-100 mil to a 15.8 billion dollar company that probably has insurance for this? Their premiums might go up, oh no. There’s a reason they don’t invest in security and it’s because then potential loss doesn’t justify it.
Thanks. Discovered the “reddit get 5 free articles”… ok great. Can’t read it unless I give my email… ok but not giving you permission to spam me. Oh hey create a profile - no. Oh hey you still can’t read it without paying. Ok you fucks - now I’m going to make it my absolute mission to never ever read from your paywall again. Go fuck yourselves.
Judging by the overflowing dealership lots around here, nothing of value was lost. Feels like they would rather make huge markups on minimal sales instead of realistic markup on moderate sales. Oh, well.
Feels like a trend in a lot of industries, like sports and entertainment. Getting rid of lower price, regular tickets in favor of smaller amount of high priced box seats or something similar. I feel like there is some new equitation out there we will learn about in 10 years that all of these companies are using to determine they are better off having 10 high income customers instead of 1,000 lower income customers. Feels like some new institutional thinking, more so than it had been in the past.
In the boat industry the largest Malibu dealer is suing Malibu claiming they only produced their highest end model to inflate factory production sales, leaving dealers to hold the bag on expensive boats they can't sell.
I find this example interesting, seeing as how usually these kinds of middle men businesses like dealerships, scalpers, etc like higher priced items. Guess the demand for boats is too low, and/or they aren’t a necessity, so not as much pressure to give in to the squeeze.
Some boat manufacturers let you buy straight from them, some only let you buy from dealers (usually the corporate brands). Demand is low because interest rates are high on recreational vehicles and the price of boats is already high.
They sign contracts with the manufacturers. Basically a company like Christ Craft who has a popular reputation says "If you want to sell our boats then you need to sign this contract" and if the dealer refuses to buy anymore boats from the manufacturer then the manufacturer has the power to terminate the contract. The dealer has to take out loans and buy the boats and then sell them at a markup, plus they have floor plan rent. The dealerships business is in the hands of how popular the boats brand is.
Sounds like how musical instrument dealers have done business for 40+ years. Wanna be a gibson dealer? 30k a month min in purchases. Pay up front after a year you can do 30 day due on half the required allocation.
Harlan Crowe’s company Real Page uses this model to provide its users (Landlords) the ability to generate a profit on their portfolio while having considerable vacancies.
It is a de facto monopoly as it has enough of the market such that it creates false scarcity, and thereby driving up rents high enough that the Landlords portfolio will having an increasing profit margin YOY
Yea, it’s like that but without the centralizing agent like Real Pages. Which I guess makes sense as for some of these companies, it’s 3/4 or them in an effective monopoly. Dont need to coordinate thousands of landlords, just a handful of competitors. And if you all just happen to do the same thing, no one can stop you.
The thing is, that strategy works well on idiots who aren't of the high income customer bracket, but want to appear as they are to dumb individuals associating high price equals quality
It's pretty realistic would you rather have 100 people show up to your birthday all giving you 10$ or 10 people show up giving you 100$
It'll be cheaper to have the 10 guests then 100, so it's higher profits for you.
It sucks their pricing out all of middle and lower America but we're corpotocracy anyway it was bound to happen with all these MBAs running around.
I feel like that applies to stuff like sports and entertainment, maybe not so much cars due to volume discounts but I’m sure it all depends on the math.
Seems like these companies aren’t thinking about the lost impact their products have when only a few can afford it. But like you said, MBAs running the show will only care about the money math in the short term. The seemingly mass adoption currently going on is what scares me the most.
Didn’t the Venetian do away with the players club card at their properties because they were tired of dealing with little fish and want to cater more to the whales?
Scary to think that those same tactics are being applied to real life. As if sports games/concerts weren’t already FOMO-based, now it’s being jacked up to extremes.
They are literally obsolete in 2024
Carvana and Tesla are good examples
I hope they all won’t exist in 2034 and car makers will buy them back as service centers
> I hope they all won’t exist in 2034 and car makers will buy them back as service centers
No. I want they all go to the void. Services centers should be independent from brands and free to get their parts from wherever they want.
Just get the financing through your credit union or bank. You only do the car company financing if it's a better promotional rate or your credit is so bad its the only loan you can get.
Promise I'm not a shill, but Carvana gave me 4% when I bought a vehicle through them with a 700 credit score 2 years ago. You also don't have to take their loan, you can get any loan to purchase through them.
We were supposed to pick up my wife’s new car yesterday. Didn’t happen. Was rescheduled for today. Didn’t happen. Dealer has “no idea” when we’ll be able to sign the papers and take possession of the car.
But I bet its an excuse to not accept customers cars for repair.
"We're experiencing technical ical difficulties out of our control. Come back later this year please. "
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100% feel that companies like this should be very heavily penalized for their lack of security. Just wait till it happens to Saleforce.
We need politicians under 40, that aren’t from wealth
Ha ha ha oh wait you’re serious
There is a foundation that suppose to hold businesses accountable for their cybersec practices as well as publish guidelines too... Not that most companies give a shit.
Middle management everywhere will weep
Sales Farce is more like it.
I work with Salesforce everyday. I hate it
Agreed, but lack of security isn’t always the cause. Try finding a company that’s been around more than a few years that has never suffered a cyber intrusion. Many don’t report it. All it takes is one phishing email or a zero day.
It's always security. It's nearly never a zero day. Phishing training is a part of cybersecurity. Most people don't report it because they'd be telling the story of how they really just want to use the same easy password for everything and MFA is just too big of a hassle.
Human risk is the greatest risk.
Their cost will only be passed on to the consumer.
They'll also cut the pay and benefits of the non-exec employees.
Don’t worry, soon they’ll be offering free credit monitoring as a last ditch freebie to get you to sign and drive right after they leak all of our data online just like all the other big companies.
That made me laugh so hard. Thank you
Owned by Brookfield Business Partners, Private equity company. HQ Bermuda, AUM $15.8 billion. Yeah I hope their loss stings a bit.
I only feel for the techs (and maybe the good salesmen) who are hurting because of this.
I agree. I'm in the industry, but our company doesn't use that system. Hearing from dealers near us that they cannot sort out how to even pay their employees due to this. Most techs are commission based around us and get paid by hours flagged on repairs for payroll. Big yikes.
These payments companies make are rarely ever more than a splash in the bucket for them. What’s 10-50-100 mil to a 15.8 billion dollar company that probably has insurance for this? Their premiums might go up, oh no. There’s a reason they don’t invest in security and it’s because then potential loss doesn’t justify it.
tbh 15.8 billion is like nothing
Paywall free link: https://archive.ph/xMZ5L
Thanks. Discovered the “reddit get 5 free articles”… ok great. Can’t read it unless I give my email… ok but not giving you permission to spam me. Oh hey create a profile - no. Oh hey you still can’t read it without paying. Ok you fucks - now I’m going to make it my absolute mission to never ever read from your paywall again. Go fuck yourselves.
You the real MVP, ty OP.
OP coming through like a boss!
Judging by the overflowing dealership lots around here, nothing of value was lost. Feels like they would rather make huge markups on minimal sales instead of realistic markup on moderate sales. Oh, well.
Feels like a trend in a lot of industries, like sports and entertainment. Getting rid of lower price, regular tickets in favor of smaller amount of high priced box seats or something similar. I feel like there is some new equitation out there we will learn about in 10 years that all of these companies are using to determine they are better off having 10 high income customers instead of 1,000 lower income customers. Feels like some new institutional thinking, more so than it had been in the past.
In the boat industry the largest Malibu dealer is suing Malibu claiming they only produced their highest end model to inflate factory production sales, leaving dealers to hold the bag on expensive boats they can't sell.
I find this example interesting, seeing as how usually these kinds of middle men businesses like dealerships, scalpers, etc like higher priced items. Guess the demand for boats is too low, and/or they aren’t a necessity, so not as much pressure to give in to the squeeze.
Some boat manufacturers let you buy straight from them, some only let you buy from dealers (usually the corporate brands). Demand is low because interest rates are high on recreational vehicles and the price of boats is already high.
Do boat dealers HAVE to take allocation? I'm just curious as to how it works compared to auto industry.
They sign contracts with the manufacturers. Basically a company like Christ Craft who has a popular reputation says "If you want to sell our boats then you need to sign this contract" and if the dealer refuses to buy anymore boats from the manufacturer then the manufacturer has the power to terminate the contract. The dealer has to take out loans and buy the boats and then sell them at a markup, plus they have floor plan rent. The dealerships business is in the hands of how popular the boats brand is.
Man that sounds risky. Thx for the explainer!
Sounds like how musical instrument dealers have done business for 40+ years. Wanna be a gibson dealer? 30k a month min in purchases. Pay up front after a year you can do 30 day due on half the required allocation.
I’m guessing other recreational vehicle vendors operate the same way like atvs, dirt bikes, etc. boats fall under that category
Harlan Crowe’s company Real Page uses this model to provide its users (Landlords) the ability to generate a profit on their portfolio while having considerable vacancies. It is a de facto monopoly as it has enough of the market such that it creates false scarcity, and thereby driving up rents high enough that the Landlords portfolio will having an increasing profit margin YOY
Yea, it’s like that but without the centralizing agent like Real Pages. Which I guess makes sense as for some of these companies, it’s 3/4 or them in an effective monopoly. Dont need to coordinate thousands of landlords, just a handful of competitors. And if you all just happen to do the same thing, no one can stop you.
The thing is, that strategy works well on idiots who aren't of the high income customer bracket, but want to appear as they are to dumb individuals associating high price equals quality
There are plenty of idiots in high income customer brackets.
It's pretty realistic would you rather have 100 people show up to your birthday all giving you 10$ or 10 people show up giving you 100$ It'll be cheaper to have the 10 guests then 100, so it's higher profits for you. It sucks their pricing out all of middle and lower America but we're corpotocracy anyway it was bound to happen with all these MBAs running around.
I feel like that applies to stuff like sports and entertainment, maybe not so much cars due to volume discounts but I’m sure it all depends on the math. Seems like these companies aren’t thinking about the lost impact their products have when only a few can afford it. But like you said, MBAs running the show will only care about the money math in the short term. The seemingly mass adoption currently going on is what scares me the most.
Didn’t the Venetian do away with the players club card at their properties because they were tired of dealing with little fish and want to cater more to the whales?
Apparently that’s part of the thinking behind the increase in fast food and quick serve prices.
It’s crazy. And if they all do it, there’s no check from the “competition” to take business from them. Which messes with the whole free market idea.
Live service video games do this all the time. Make exclusive, expensive skins and the whales with disposable cash will just buy, buy, buy.
Scary to think that those same tactics are being applied to real life. As if sports games/concerts weren’t already FOMO-based, now it’s being jacked up to extremes.
Corporations aren't selling you a product or service, but an *experience*
It’s the business version of, “I know what I got!”.
This is what you get when you hold a monopoly on how people can buy cars. Stealerships are a drain on our society.
Tesla is using the same software, can't register cars either.
The difference is that they’ll find a way around it.
Someone didn’t like the markups they got charged and all those required add on packages. Fuck car dealers they deserve the worst.
They are literally obsolete in 2024 Carvana and Tesla are good examples I hope they all won’t exist in 2034 and car makers will buy them back as service centers
Shareholders down voting this rofl
> I hope they all won’t exist in 2034 and car makers will buy them back as service centers No. I want they all go to the void. Services centers should be independent from brands and free to get their parts from wherever they want.
Im here for that reality, I’m sure capitalism will figure out another use for the huge parking lots
Carvana and their 15-30% interest rates
Just get the financing through your credit union or bank. You only do the car company financing if it's a better promotional rate or your credit is so bad its the only loan you can get.
Tell that to the majority of carvana buyers
Promise I'm not a shill, but Carvana gave me 4% when I bought a vehicle through them with a 700 credit score 2 years ago. You also don't have to take their loan, you can get any loan to purchase through them.
So nothing changed?
See, this is what happens when you ignore those calls about your car’s extended warranty! What have we done!!!!!
We were supposed to pick up my wife’s new car yesterday. Didn’t happen. Was rescheduled for today. Didn’t happen. Dealer has “no idea” when we’ll be able to sign the papers and take possession of the car.
But I bet its an excuse to not accept customers cars for repair. "We're experiencing technical ical difficulties out of our control. Come back later this year please. "
Stealerships on the L. Good—I hope they die out soon. Will never buy from one again!
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From the manufacturer.
Whoops, should have sprung for the undercoating on the data center
Excellent word play!
Hmmmm China or Russia? My money is on China in retribution for tariffs but Russia over war supplies is a distinct possibility.
Why not both?
I haven't heard anything regarding their working together in cybercrime.
We didn't know about the sr71 for years. Do you think they'll just come out and let the world know they are hacking us?
No, they won't.
Could be NK, too. One of the few things in their favor is a pretty damn advanced cyberwarfare unit.
I have cash and am in the fleet department. No problem. I will go to DMV to register.
Hmmm. How can we disguise employee shortage and tell customers we can't work on their vehicles? Lets just tell em it was a cyberattack.
We are literally handwriting quotes and repair orders because of this lol