Intellectual Property & Security
Intellectual Property theft and cybersecurity are real business concerns. Some sources estimate that $225B to $600B in Intellectual Property has been lost by patent infringement to China alone and the cybercrime will increase from a whopping $3 trillion in 2015 to $6 trillion by 2021. The costs are real.
“We are a trucking technology company that helps bridge Silicon Valley and traditional trucking industries to bring the latest innovations and technology to them whether that’s in connected hardware, aerodynamics or software,” says XStream’s founder and CEO, Daniel Burrows. “We started with prototyping everything in America, but we eventually made things all over the world. Taiwan. Mexico. China. And several locations in the United States. I had understood that was the natural progression of any company. Labor was cheaper abroad, controlling your costs in this industry is absolutely essential, and so you offshored a portion. But we always kept important business-critical items like advanced research, software, firmware and cybersecurity in Silicon Valley, and grew those teams here so no one else has access to our advanced intellectual property.”
And they are not alone. For just fixed servers (a.k.a. “I.T.”), the North American cybersecurity market is projected to grow from $25.6B in 2015 to $53.3B by this year, which represents a Cumulative Annual Growth Rate (CAGR) of 16.7%. This doesn’t include the cybersecurity inside of each module inside of each car or truck, which has additionally grown with most of the development jobs being onshored for similar reasons.