“So we look for these sort of nuggets of opportunity where we can come in and optimize product offering, optimize lifetime value, [and] improve on unit economics, like customer acquisition costs [and] retention metrics — and add our secret sauce, if you will, in terms of how we monetize customers and improve the overall customer experience [and] offer better product and improve the quality of the product and ultimately increase the value of this asset.”
When the majority of an industry zeroes in on one part of the market, focus on the other part. In this episode, that’s a key message from Gary Guseinov, CEO of RealDefense. Guseinov reveals how RealDefense, which is a holding company, has directed its attention on the consumer security and privacy market while the greater security industry has focused on the enterprise market. From his position as CEO of RealDefense in conjunction with his experience as a mentor to startups, Guseinov also offers an insightful perspective as to the current state of how artificial intelligence can be used for security purposes.
Is It Really Important To Keep It Real About AI? (25:59)
There’s a fair amount of hype around AI and how it can help with cybersecurity. Much of the hype is well-intentioned and there are ways that AI is already a real cybersecurity asset. But Guseinov speaks to the current limitations AI has to make security decisions for consumers in a way that would be completely hands-off for people. Of course, this does not mean there is no potential for AI to help with consumer security. Honesty creates a foundation for innovation.
Do Consumers Need Love Too? (29:56)
“Well, from a consumer side, there isn’t a lot of innovation happening on the cybersecurity space… On the enterprise side where the risks are greater, there’s quite a bit of innovation and a lot more acquisition activity. On the consumer side… it’s an afterthought and it’s almost like a derivative of enterprise. Once the enterprises sort of figure out the right model, sometimes it just trickles down to the consumer.”
According to Guseinov, RealDefense is focusing on the consumer space. In considering RealDefense’s strategy, there’s a clear lesson for other types of businesses in other industries — find a big part of a market that’s underserved and then serve that segment of the market.
Do Privacy Solutions Have Potential? (30:45)
“We are focused on privacy management. That to us is the area that’s the most interesting. It’s the least addressed in terms of product-market fit. There are a lot of opportunities. There was a lot of ways for consumers to win in terms of monetization of the data. There are lots of ways for advertisers to benefit and good actors to benefit from having a comprehensive privacy solution. And it’s global… Everyone’s now connected to the internet. Everyone’s using social media. There’s no reason why someone in the poorest and the wealthiest part of the world could not be part of the same platform.”
About the Guest:
“Gary serves as the company CEO and oversees all company operations, including acquisition activities. Gary was previously CEO of International Equity Partners, a private equity firm focused on emerging technologies in cyber security, big data analytics and marketing automation. Gary has also served as the CEO and Chairman of the Board of CyberDefender, a NASDAQ company, and has co-founded multiple successful startups including inCast and Synergy.”
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