Gas prices at a four-month low. Housing prices down sharply in the second quarter. GDP cooking along at a modest 2.9 percent, while recession still looms as a real possibility.
As we sift through these economic indicators, like so many tea leaves, we're left wondering why on earth storage companies see this as a good time to float their shares in an IPO.
Isilon sneaked out a note about its plan before the holiday weekend. (See Isilon Reveals IPO Plans.) And CommVault's going to take the plunge as well, with shares that are expected to be priced somewhere between $12.50 and $14.50. (See CommVault's One Step Closer.)
Vendor bravery or VC greed? It's a tough call. While storage is one of the "must have" technology stocks these days, that's no guarantee of success for any startup.
But forget external market conditions for a minute. Even if all the leading indicators showed clear blue skies, you might wonder why some storage firms are proceeding with IPOs at all. As Dave Raffo points out in today's coverage, IPO candidates Double-Take, Isilon, and Riverbed haven't turned a penny of profit. Basically, they're ignoring the time-tested model whereby companies establish a few quarters of profitability before floating their shares.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
