$5 billion in losses from cloudstrike? Can someone explain that

[paulri]

According to this article, the Cloudstrike outage cost the US economy some $5 billion in losses. I'm not doubting that number, but I would like someone to explain the two largest sectors, healthcare and banking, which the article said suffered $3 billion of those losses.

If I had a toothache, even if urgent care or my dentist couldn't see me b/c of the outage, I'd go in as soon as I could the very next day. Correspondingly, if I wanted to transfer money from one account to another, or deposit money in a CD, I'd do it as soon as the outage was over. So how do health care and banking suffer $3 billion in losses?

 

[CarlB]

According to this article, the Cloudstrike outage cost the US economy some $5 billion in losses. I'm not doubting that number, but I would like someone to explain the two largest sectors, healthcare and banking, which the article said suffered $3 billion of those losses.

If I had a toothache, even if urgent care or my dentist couldn't see me b/c of the outage, I'd go in as soon as I could the very next day. Correspondingly, if I wanted to transfer money from one account to another, or deposit money in a CD, I'd do it as soon as the outage was over. So how do health care and banking suffer $3 billion in losses?

Using your example at the bottom. I still paid wages, lease, etc while unable to perform core business functions. It wouldn't mean later days I make up the difference.

 

[dishdude]

I'd love to know what this cost Delta Airlines, plus all the passengers disrupted.

 

[Jim_Truett]

If I had a toothache, even if urgent care or my dentist couldn't see me b/c of the outage, I'd go in as soon as I could the very next day. Correspondingly, if I wanted to transfer money from one account to another, or deposit money in a CD, I'd do it as soon as the outage was over. So how do health care and banking suffer $3 billion in losses?

That's just you. You need to extrapolate beyond your singular experience. Everyone else scheduled for that time suffered in the same scenario and you can't recover the time for everyone without losses or displacing someone else.

 

[Rand]

I'd love to know what this cost Delta Airlines, plus all the passengers disrupted.

At my work we had massive disruption. Very hard to place a number on it.
there was literally 1 laptop out of 60?+ computers in my building that worked.. and that manager was off for the weekend.
Most of the "software backbone processes" were down for the first 1-2 days.

Extrapolating from my location there were easily 20000-30000 pc's out and needing hands on fix..

there were time consuming workarounds for most of it after the first day.
Not a company mentioned on the news but over 10 billion in sales last year.
so a 3-4 day disruption is more than pennies.. I'd imagine some of the backoffice stuff was much worse as far as the disruption.
We got full PC's back tues afternoon.

 

[paulri]

So like the guys at the car parts counters/dealers that were talking about this here at BITOG as it happened--a lot of paid labor costs, with no revenues to show for it. OK that could add up.

Plus, if any of these places hired consultants to help them bring everything back up, that would be an additional cost.

Using your example at the bottom. I still paid wages, lease, etc while unable to perform core business functions. It wouldn't mean later days I make up the difference.

 

[dadto2]

My company was marginally affected, but we still had all hands on deck calling our banking partners to verify that ACH files were received and processed, our IT dept was all hands on deck performing health checks on literally thousands of servers in our data centers, etc. This all takes them away from their regularly schedule work that must be made up later. And as I said, we were marginally affected.

 

[paulri]

My company was marginally affected, but we still had all hands on deck calling our banking partners to verify that ACH files were received and processed, our IT dept was all hands on deck performing health checks on literally thousands of servers in our data centers, etc. This all takes them away from their regularly schedule work that must be made up later. And as I said, we were marginally affected.

And all that time could be calculated as losses....

 

[Urshurak776]

I work for a very large HVAC Company (think...blue oval)

Most of us could not log in all day. 44,000 employees.....

There were a handful of people that could, for whatever reason.

I assure you, my company took a hit that day in the pocket book.....probably substantial.

Honestly, 5 billion? I think it's more....

 

[benjamming]

Federal Reserve bank was down(?), home closings didn't happen so people squatted for a bit, etc.

 

[opus1]

A friend has a spouse who's an ER nurse and she said that the entire hospital system was unavailable which really messed with their entire workflow. I don't know how to place a dollar amount on that but there had to have been some impact with both the immediate work that needed to be done, and the work that was put off and now has to be made-up once things are back to normal.