In the wake of the NSA spying scandal, I have been moving my data away from large US vendors and increasing my computer security. Both of these issues needed to be addressed but the NSA spying scandal has made them relevant for me - and I suspect many others. This will negatively impact earnings growth, particularly at Google and Facebook, particularly for international and business revenue.
When it comes to personal and business computing security, maintaining relationships with multiple vendors is just as important as basic security. However, now that we know definitively that the US government is tapping into the Internet backbone and coercing Internet companies to divulge user data, security will take a more pronounced anti-American, anti-large vendor, anti-cloud computing turn.
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.