![]() The public sector, whilst not motivated by profit, prioritises the delivery of these critical services, but unfortunately, this can also come at the expense of security considerations’.Īlso, loved the below tribute to the big man. Firms with less mature security can also be incentivised to constrain information sharing during incidents, limiting the NCSC's ability to effectively support and respond. ‘Operators of the UK's CNI may be positioned to deliver shareholder value and profit, incentives that can take priority over investment in the secure operation of critical systems. This enhanced situational awareness will be increasingly important in times of heightened threat - but being mindful about supply chain security from procurement through to deployment should be a perennial consideration for operators. 'Often critical services will rely on complex supply chains to function and so mapping supplier dependencies and relationships plays a crucial part in gaining confidence in your security. Our understanding of CNI has also evolved, moving towards a more holistic view of critical systems rather than purely physical assets. 'The systems underpinning communications, financial networks, and the internet change more rapidly and are often highly distributed. WSJ News Exclusive | Sequoia Turns to Outside National-Security Experts to Vet New China Tech InvestmentsĬool bits from the NCSC’s 2023 Annual Review: ![]() ![]() Well, well, well, the invisible hand's readjusting. officials believe could aid China's military development and present other concerns'. 'While the additional vetting doesn't bar sensitive investments outright, the people familiar with the matter said, it appears to be deterring the new China funds from taking stakes in companies that develop sensitive technologies, which U.S. Since the screening process was implemented in the autumn of 2022, the firm hasn't made any investments in Chinese semiconductor or quantum-computing startups from its new funds, which were raised in July 2022. 'Between 20, Sequoia China made at least 20 investments in Chinese semiconductor and related companies. The screening for national-security concerns, a first for the firm, is being conducted by outside American policy experts and applies specifically to new investments in Chinese semiconductor or quantum-computing companies, though it isn't meant to be binding. officials in late 2022 about its plans to screen certain investments those funds make, the people said. "Retrospectives: Ethics and the Invisible Hand.'In response, Sequoia. I conclude with some thoughts on the legacy of Adam Smith and of our predecessors in economic inquiry more generally. I then describe the story Smith tells of the invisible hand creating and maintaining a constructive classical liberal society and show how Smith's story evolved as his faith in the ability of the invisible hand to shape an appropriate ethical foundation waned. I begin by presenting the philosophical basis for Smith's invisible hand, describing the sense in which the hand is invisible and whose hand it is. ![]() ![]() But in Adam Smith's moral philosophy, the invisible hand has a much broader responsibility: if individuals are to enjoy the fruits of a classical liberal society, the invisible hand must not only coordinate individuals' choices, it must shape the individuals into constructive social beings-ethical beings. As modern economists, we use Adam Smith's "invisible hand" metaphor confident that we all know what it means in our discourse: it reflects our admiration for the elegant and smooth functioning of the market system as a coordinator of autonomous individual choices in an interdependent world. ![]()
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