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What is the Greatest Cybersecurity Threat: Insiders or Outsiders?

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In a short two years, it is safe to say that the prospect of cybercrime has suddenly shifted to be a top concern for many decision makers around the world.

It started with the explosive hacks that rocked companies like Sony, JP Morgan, Target, and other well-known brands. More recently, it was the release of thousands of hacked emails from the DNC and John Podesta, along with the allegations of Russian hacking, that has led the news cycle.

As a result, it is not surprising that much of today’s narrative on cybercrime is centered around the devastating potential of external threats to countries or businesses. The reality is, however, that there is a whole other side of things to consider.

Are Insiders or Outsiders the Greatest Cybersecurity Threat?

While external threats like cybercriminals or hackers are an ongoing concern for organizations, it is actually malicious insider attacks that tend to cause the most damage on average (in terms of costs).

Today’s infographic from Digital Guardian explains the differences, methods, and typical costs associated with each kind of cybersecurity threat.

What is the Greatest Cybersecurity Threat: Insiders or Outsiders?

Is it insiders or outsiders that pose the greatest threat to organizations? The answer seems to be both, and for very different reasons.

Insiders or Outsiders?

Outside threats such as cybercriminals, nation state-sponsored attacks, competition-sponsored attacks, and hacktivists are certainly more sophisticated in their approaches, but they also lack the credentials and information that insiders may hold. For that reason, the most likely root cause of data breaches involve both insider and outsider threats together.

Strictly in terms of costs, it’s malicious insider attacks that pose the biggest cybersecurity threat to organizations. When weighted for attack frequency, the average annualized cost of such an attack is $144,542 per year according to the Ponemon Institute.

This puts it above DoS attacks, but by a relatively small margin:

Type of cyberattackAvg. cost per attack, weighted by frequency
Malicious insiders$144,542
Denial of services$126,545
Web-based attacks$96,424
Phishing & social engineering$85,959
Malicious code$81,500
Stolen devices$33,565
Malware$7,378
Viruses, worms, trojans$1,900
Botnets$1,075
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Ranked: The Top Startup Cities Around the World

Here are the global startup ecosystem rankings, highlighting the scale and maturity of major tech hubs worldwide.

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This bar chart shows the top startup ecosystems in the world in 2024.

The Top Startup Cities Around the World

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

A richly connected network of founders, venture capital firms, and tech talent are some of the key ingredients driving a startup ecosystem.

As engines of growth, these tech clusters are evolving on a global scale. While the world’s leading startup cities are concentrated in America, several ecosystems, such as Beijing and Seoul, are growing in prominence as countries focus on technological advancement to spur innovation.

This graphic shows the best startup cities worldwide, based on data from Pitchbook.

The Global Startup Ecosystem Rankings

To determine the rankings, each city was analyzed based on the scale and maturity of their startup ecosystem over a six-year period ending in the second quarter of 2023.

Among the inputs analyzed and used to calculate the overall development score were fundraising activity, venture capital deals, and exit value:

RankCityDevelopment ScoreCapital RaisedDeal CountExit Value
1🇺🇸 San Francisco90$427.6B19,898$766.3B
2🇺🇸 New York76$179.9B13,594$171.7B
3🇨🇳 Beijing76$161.2B8,835$279.2B
4🇨🇳 Shanghai73$130.3B7,422$186.8B
5🇺🇸 Los Angeles71$144.6B9,781$181.4B
6🇺🇸 Boston70$117.0B6,044$172.8B
7🇬🇧 London64$99.0B11,533$71.9B
8🇨🇳 Shenzhen63$46.4B5,020$66.3B
9🇰🇷 Seoul61$31.1B6,196$71.0B
10🇯🇵 Tokyo60$26.2B5,590$28.0B
11🇨🇳 Hangzhou59$50.7B3,361$88.7B
12🇺🇸 Washington D.C.55$43.7B2,706$28.2B
13🇺🇸 Seattle54$31.7B2,693$35.6B
14🇸🇬 Singapore52$45.7B4,507$38.0B
15🇺🇸 San Diego52$33.5B2,023$44.7B
16🇺🇸 Austin52$26.4B2,636$22.9B
17🇨🇳 Guangzhou52$24.7B1,700$24.0B
18🇮🇱 Tel Aviv51$21.0B1,936$32.2B
19🇺🇸 Denver51$26.8B2,489$29.9B
20🇩🇪 Berlin50$31.2B2,469$15.9B

San Francisco dominates the pack, with $427.6 billion in capital raised over the six-year period.

Despite a challenging funding environment, nearly 20,000 deals closed, highlighting its outsized role in launching tech startups. Both OpenAI and rival Anthropic are headquartered in the city, thanks to its broad pool of tech talent and venture capital firms. Overall, 11,812 startups were based in the San Francisco Bay Area in 2023, equal to about 20% of startups in America.

Falling next in line is New York City, which raised $179.9 billion over the same time period. Crypto firm Gemini and machine learning company, Hugging Face, are two examples of startups based in the city.

As the top-ranking hub outside of America, Beijing is home to TikTok’s parent company, ByteDance, which is one of the most valuable private companies in the world.

In recent years, much of the startup funding in China is being driven by government-backed funds. In particular, these funds are focusing heavily on “hard tech” such as semiconductor-makers and electric vehicle companies that align with the government’s strategic long-term goals.

Another leading tech hub, Singapore, has the highest venture capital funding per capita worldwide. In 2023, this was equal to an impressive $1,060 in venture funding per person. By comparison, venture funding was $345 per person in the U.S., the second-highest globally.

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