Why the CrowdStrike bug hit banks hard

I personally tried withdrawing cash at three financial institutions in different weight classes, as was told it was absolutely impossible (in size) at all of them, owing to the Falcon issue.

At one, I was told that I couldn’t use the tellers but could use the ATM. Unfortunately, like many customers, I was attempting to take out more cash from the ATM than I ever had before. Fortunately, their system that flags potentially fraudulent behavior will let a customer unflag themselves by responding to an instant communication from the bank. Unfortunately, the subdomain that communication directs them to runs on a server apparently protected by CrowdStrike Falcon.

I have some knowledge of the history of comprehensive failures of financial infrastructure, and so I considered doing the traditional thing when convertibility of deposits is suspended by industry-wide issues: head to the bar.

I’ve ignored the CrowdStrike news primarily because it didn’t directly impact me, and secondarily because I made an assumption that this was yet another example of the joys of late stage capitalism.

I’m glad I read this article, though, because it helped put the crisis in perspective.

While it didn’t impact me, it certainly caused issues for those in my real life. Software truly has reached a point where it can cause massive headaches for large swaths of society.

When a big part of society gets bumped by an outage like this, the ripples of its consequences will surely be felt by everyone at some point down the road.

Second, I gotta stop being so cynical about capitalism. I should stop pretending I’m above it or better than it. Like it or not, it’s the system I have to play in.

It would probably be less stressful for me to accept the game and use it to accomplish my own set of goals.

One of my main goals in life is to build technology that helps make people’s lives better.¹ Say what you will about CrowdStrike, but this article reminded me that it’s because of tools like Falcon that we are provided a society in which we all can live better lives.

So instead of sitting here and (a) ignoring the news and (b) complaining about the existence of bad actors in our system, maybe I should instead do my best to help make our system as stable as I can.