[On :freetrade:] Zoom (ZM)

Zoom insiders are Sell Sell Sell! Peaked or just post IPO return of capital?

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A bit of both. The right time to get out for those that got in early, either as staff or investors.

11 posts were split to a new topic: Zoom privacy concerns

A post was merged into an existing topic: Zoom privacy concerns

This split by topic should be reversed @Freetrade_Admin .

:arrow_double_up: is about the stock and includes valuation issues. There are two topics about ZOOM and it’s confusing.

What employees working from home who use ZOOM should know (Telegraph citing lawyers):

@AUK @Rollingskies @HoldenCarver

BBC:

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So @engineer, what’s your take on Zoom? I’m not sure. :wink:

Well… if the MoD have banned it then someone at number 10 didn’t get the memo!
I don’t think theres anything wrong with ‘administrators’ to be able to see any of the meetings.

Slack, for example, if you are an admin of the account then you can read all channels and private messages.

Lets agree to disagree with this one ;-).

GL to all invested

From the creator of ruby on rails, CTO/founder of Basecamp.

He kind of prompted the Apple Card/Goldman Sachs investigation earlier:

“Hi Zoom CEO, thanks for the follow.”

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Thanks for that, and wow he seems a bit bitter! He should take a look at Facebook, that’ll really shock him!

As I said, I think we’ll agree to disagree on ZM. I still believe that they will be $200+ by the end of the year, which is where I’ll probably exit.
A well run company who seems to be handling the increased traffic well.
With no sign of COVID-19 abating (please god it does!), ZM will continue to become important and with things like the UK Gov using it every day live on global TV, it is great free publicity!

I don’t think “pointing out shoddy business practices” = bitter. He seems remarkably level-headed and reasonable, if anything (notice he says the fundamental tech is still good).

I mean, breaking OS X so badly (on purpose!) that Apple have to issue an OS patch? Wow.

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Fair enough!

Heres a good article from SeekingAlpha https://seekingalpha.com/article/4335350-zooms-boom-is-not-over-yet

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New separately disclosed vulnerabilities - MacOS and Windows are affected.

TL;DR - Tech Crunch:

Long story - Tech Crunch:

Source - https://techcrunch.com/2020/04/01/zoom-doom/ which cites a blog post and another post (regarding Windows).

There is already a YouTube video showing one of the exploits in action. I’d advise against holding the AMA on ZOOM until they fix this, @Viktor.

By the way, ZOOM is looking for a Senior Application Security Engineer as of yesterday - anyone looking to move to San Jose, California?

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zoom

Down almost 14% at open :open_mouth:

Unsurprising tbh

These bugs should be squashed quickly though and they should offer a bug bounty program while they look to hire

ZOOM is in a PR/crisis management mode - they are the hottest app on the planet (TikTok is so last year).

The team they must’ve hired to sort out the media, security and privacy issue storm must’ve been compensated a lot.

ZOOM are finally taking steps to address the concerns with a 1 April blog post: https://blog.zoom.us/wordpress/2020/04/01/a-message-to-our-users/.

NOTE: No word on the user data information harvesting/sharing for/with their advertising partners though.

Apology from the CEO

“… we recognize that we have fallen short of the community’s – and our own – privacy and security expectations. For that, I am deeply sorry, and I want to share what we are doing about it.”

"We appreciate the scrutiny and questions we have been getting – about how the service works, about our infrastructure and capacity, and about our privacy and security policies. These are the questions that will make Zoom better, both as a company and for all its users. "

Feature freeze - all engineers to focus on security and privacy

"- Enacting a feature freeze, effectively immediately, and shifting all our engineering resources to focus on our biggest trust, safety, and privacy issues.
"- Conducting a comprehensive review with third-party experts and representative users to understand and ensure the security of all of our new consumer use cases.
"- Preparing a transparency report that details information related to requests for data, records, or content.
"- Enhancing our current bug bounty program.
"- Launching a CISO council in partnership with leading CISOs from across the industry to facilitate an ongoing dialogue regarding security and privacy best practices.
"- Engaging a series of simultaneous white box penetration tests to further identify and address issues.
“- Starting next week, I will host a weekly webinar on Wednesdays at 10am PT to provide privacy and security updates to our community.”

A summary of issues and actions

(they actually updated their privacy statement twice in March.)

Recent “pivot” because of Covid-19 was accidental :slight_smile:

They said that as an enterprise focused app they were not designed for day-to-day use:

“…we did not design the product with the foresight that, in a matter of weeks, every person in the world would suddenly be working, studying, and socializing from home.”

:cherries: Operational update - 200 million users (20x since December):

“… 90,000 schools across 20 countries that have taken us up on our offer to help children continue their education remotely. To put this growth in context, as of the end of December last year, the maximum number of daily meeting participants, both free and paid, conducted on Zoom was approximately 10 million. In March this year, we reached more than 200 million daily meeting participants, both free and paid.”

Read here: https://blog.zoom.us/wordpress/2020/04/01/a-message-to-our-users/


Windows and MacOS apps are still exposed despite small chances of you being affected

ZOOM is a hot app, people are working from home, the world is battling a pandemic, and the bad actors know it.

You may want to delete the native apps until they are patched.

MacOS’s vulnerability has to do with the ability to gain admin (your main user’s ) priveleges (a.k.a. root) and injecting all sorts of code (malicious or not, you may not know what hit you.) Windows is affected because someone can gain your Win login details, from what I understand. The MacOS app uses malicious app-like tactics to install intself onto your machine - that’s just not cool (ZOOM web devs used dark design patterns, among other things, to get you to install a native app).

Here’s the recap of ZOOM’s most sever issues from ZDNet:


“But I have to use ZOOM”

If you absolutely have to use ZOOM (and can’t use Skype, Apple FaceTime, Google Duo, Hangouts, Discord, Slack (Video/Audio)etc ) - here’s some advice:

ZOOM’s use of meeting IDs are a bad idea. Don’t share them, maybe there’s an option to randomise the number. Anyway:

Password-protect everything

Because of technical debt and legacy issues, they better be paying their engineers good money (and they can).

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ZOOM’s artificial bull run is out of oxygen - it just needed a catalyst or two.

The valuation is just out of this world - a $36 billion market cap company with a P/E of over 1,500x. Enterprise value/EBITDA (estimated) - also well over 1,000x. Revenue is just $600 million+ (not bad but…)

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