Business of Tech: Daily MSP News & IT Services Analysis

In the podcast episode, Dave Sobel delves deep into Apple's WWDC event, highlighting key announcements and advancements in AI technology. Apple introduced Apple Intelligence, an AI system for their devices, showcasing practical and familiar features like Siri upgrades and integration with OpenAI's Chat GPT. The event also unveiled new AI features across various Apple platforms, emphasizing a user-friendly and personalized approach to AI technology. Notably, the introduction of a calculator app for the iPad received a significant cheer from the audience, showcasing the importance of user-centric features.

One of the most intriguing aspects discussed in the episode is Apple's Private Cloud Compute, a privacy-centric AI processing system designed to ensure data privacy and security. The innovative architecture of PCC utilizes Apple Silicon servers with advanced security measures like Secure Enclave and Secure Boot, emphasizing data protection and transparency. The episode highlights how Apple's approach to AI technology differs from other tech giants, focusing on privacy and user empowerment. The integration of PCC with Apple Intelligence showcases a thoughtful solution built around privacy and security.

Dave emphasizes the significance of Apple's AI strategy, which seamlessly integrates AI technology into the operating system, making it accessible to all Apple users without additional fees. The episode underscores the role of IT service providers in understanding and leveraging AI features for their customers, emphasizing the importance of advice, guidance, and consulting work in implementing AI technology effectively. Apple's responsible AI principles, focusing on user empowerment, representation, design, and privacy, set a high standard for AI development and transparency, serving as a valuable case study for providers working with customers.

In conclusion, the episode highlights the evolving landscape of AI technology and the importance of privacy and user-centric design in AI development. Dave encourages IT service providers to prepare for the integration of Apple's AI technology into their services, emphasizing the need for readiness and understanding of AI features for customer engagement. The episode provides insights into Apple's innovative approach to AI technology and the implications for the tech industry, setting a benchmark for responsible AI development and user privacy.

Three things to know today.

00:00 Apple’s WWDC 2024 Announcements

04:38 A look at Apple’s Private Cloud Compute

07:17 Apple’s AI Framework, and what providers can learn.

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

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The Ticketmaster breach is linked to Snowflake, putting 400 companies at risk. Snowflake warns customers about hackers targeting accounts without multi-factor authentication, potentially connected to the Ticketmaster breach. The threat actor responsible aims to blackmail Snowflake for $20 million, highlighting the importance of MFA in cybersecurity.

Microsoft responds to concerns about their Recall feature, which captures user activity on AI-powered PCs. Cybersecurity expert discovers potential security flaws, prompting Microsoft to update the feature for improved security and privacy controls. Users will now need to opt-in and prove their presence via Windows Hello to use the recall feature, emphasizing the importance of strict access control measures.

Broadcom's acquisition of VMware raises concerns among IT workers at North American VMware customers. Despite worries about price hikes and disruption to IT strategy, most customers plan to stay with VMware due to its embedded nature in their infrastructures. However, Stormagic is launching a new hyper-converged infrastructure solution, SVHCI, as an alternative to VMware for edge and SMB environments, offering cost savings and high availability.

Research from Gartner reveals that executives and employees are hesitant about return-to-office mandates, with some viewing them as a way to conduct back-channel layoffs. The post-COVID work culture has led to increased workplace surveillance and decreased productivity. In contrast, the Office of Personnel Management Director advocates for continued remote work for cybersecurity professionals in federal agencies, emphasizing the importance of creating an open culture and avoiding micromanagement for success.

Four things to know today

00:00 Ticketmaster Breach Tied to Snowflake: 400 Companies at Risk

01:30 Microsoft Responds to Recall Feature Concerns with Improved Security and Privacy Controls

03:02 Broadcom Faces Potential Backlash from VMware Customers Amid Acquisition Concerns

04:24 RTO Mandates Linked to Back-Channel Layoffs, Studies Suggest

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

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The May jobs report reveals strong hiring and wage growth, particularly in sectors like healthcare and government. Despite concerns about a potential rate cut by the Fed, the report indicates a stable economic environment with growing demand for tech talent, especially in AI-related and data science roles. This suggests a need for IT service firms to invest in upskilling their workforce to meet market demands.

Service Leadership's annual IT Solution Provider Industry Profitability Report highlights record growth rates for technology service providers for the fourth consecutive year. The report emphasizes the importance of adopting innovative technologies and improving business processes to sustain growth and profitability. Notably, there is a correlation between high customer satisfaction and profitability, with private equity-owned MSPs showing higher net promoter scores but non-PE providers performing better in certain financial metrics.

The episode also delves into the state of venture investing, noting a surge in AI-related deals but an overall decline in venture capital funding. The software-as-a-service sector is particularly affected, with enterprise customers cutting costs. The discussion touches on the longer recovery period, challenges faced by emerging managers, and the limited number of IPOs in the current market. This data-driven insight suggests a shift towards AI-driven investments and the need for providers to adapt to changing market dynamics.

Lastly, the episode explores the speculation surrounding ConnectWise's future, with rumors of a potential sale or IPO circulating. While ConnectWise's platform play with Asio is highlighted, the possibility of the company remaining private is also considered. The discussion points to a potential partnership between ConnectWise and N-Able, given their respective strategies and market positions. The evolving landscape of tech IPOs and alternative ways for investors to extract value indicate a shifting trend in the industry's financial strategies.

Four things to know today

00:00 May Jobs Report Shows Strong Hiring, Wage Growth, and Sector Gains

03:51 Service Leadership Data Shows Record Growth and Profitability for Fourth Consecutive Year

05:51 AI Investment Surge Highlights Shift in Venture Capital Priorities

06:41 ConnectWise's Future: Public, Private, or Platform Play?

Supported by: https://TrinityCyber.com/msp4/

All our Sponsors:   https://businessof.tech/sponsors/

About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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Identity management solutions, such as those provided by SailPoint and IDM Works, are essential for organizations to address access timeliness and removal issues effectively. In a podcast episode, Paul Bedi, the CEO of IDMWorks, discussed common organizational pain points, including managing numerous usernames and passwords, delays in access provisioning, and difficulties in adding or removing employee access. These challenges can result in compliance and security risks, especially when access is not promptly revoked upon an employee's departure.

Bedi stressed the importance of tackling these issues through advisory engagements and implementing identity management solutions like SailPoint's products. By offering organizations guidance on implementing these solutions, IDM Works helps streamline access management processes, reduce onboarding and offboarding times for employees, and enhance overall security measures.

Additionally, Dave Schwartz, the SVP of Global Partnerships at SailPoint, highlighted the unique value proposition of their partner program, which focuses on delivering maximum benefits to end customers. Through collaborations with partners like IDMWorks, SailPoint aims to help organizations effectively manage access controls, improve access provisioning and deprovisioning timeliness, and enhance overall security and compliance measures.

In summary, identity management solutions from companies like SailPoint and IDMWorks are crucial for organizations to address access management issues, ensure timely access provisioning and deprovisioning, and mitigate security risks. Through strategic partnerships and outcome-based selling approaches, these solutions enable organizations to streamline their identity management processes, enhance operational efficiency, and bolster security measures.

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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Want the show on your favorite podcast app or prefer the written versions of each story?

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In this episode of the Business of Tech Lounge, host Dave Sobel delves into the world of cybersecurity, questioning the effectiveness of the industry's focus on selling expensive solutions over practical ones. He highlights the growing global spending on security and risk management, projected to reach $215 billion, and discusses the need for cybersecurity measures in the face of rising cyber threats and attacks.

Sobel engages in a conversation with Paul Bedi and Dave Schwartz about tying security investments to business outcomes and the importance of benchmarking security measures against industry peers. They emphasize the need for a cost-benefit analysis and a minimum service level in cybersecurity solutions. The discussion also touches on the significance of preparing for downtime and the cost of not implementing security measures.

The episode shifts focus to the topic of talent recruitment in the tech industry, with a discussion on micro internships as a way for small businesses and managed services providers to engage with colleges and universities. Sobel explores the benefits of these short-term, skill-based projects in building a recruitment channel and providing valuable experience for both parties.

Sobel concludes the episode by emphasizing the importance of simplifying security offerings to focus on key areas such as passkeys, strong identity security, backup disaster recovery, and MDR. He encourages listeners to prioritize these essential security measures and engage in discussions about the evolving landscape of cybersecurity solutions. The episode ends with a call for questions and feedback from the audience to shape future discussions on the show.

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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In the podcast episode, Dave Sobel discusses the current state of AI adoption among managed services providers (MSPs). According to Barracuda's global MSP report, MSPs are feeling the pressure to enhance their knowledge and application of AI products and services to meet customer demands. The report also highlights the increasing focus on security-related services, with MSPs anticipating a rise in revenue from recurring managed services in 2024.

The episode delves into the impact of AI on the labor market, as revealed by new research from MIT's Computer Science and Artificial Intelligence Lab. Contrary to previous fears, the study suggests that job destruction from AI will occur gradually, giving policymakers time to prepare and mitigate its effects. Additionally, a Slack report emphasizes the importance of providing proper training to employees using AI to avoid an increase in busy work and ensure productivity.

Salesforce's introduction of Slack Lists, a feature aimed at transforming Slack into a collaborative project management tool, is highlighted in the episode. The integration of project and task management functionalities within Slack is seen as a strategic move to enhance collaboration, improve accountability, and increase productivity for teams. The discussion emphasizes the need for proper training to maximize the potential of Slack Lists and the importance of support from Salesforce during the transition.

The episode also touches on initiatives such as CISA's Secure by Design and Gartner's recommendations for CISOs to enhance their cybersecurity approach. The focus on secure design practices, legislative developments, and building a resilient cyber workforce underscores the evolving landscape of cybersecurity. Furthermore, insights into AI jailbreaking and innovative workplace communication tools like Imovid provide a glimpse into the future of technology and the importance of staying ahead of industry trends for MSPs and software developers.

Three things to know today

00:00 AI Hype vs. Reality: Why Training and Security Remain Key for MSPs

03:38 Salesforce Enhances Slack with Project Management Features: Introducing Slack Lists

04:50 Government Initiatives, Cybersecurity Strategies, and AI Jailbreaking: Key Takeaways for Tech Professionals

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https://huntress.com/mspradio/

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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On this episode of the podcast, Dave Sobel discusses three key topics. Firstly, he highlights a study by Amazon Web Services that shows small businesses who are highly data-driven tend to outperform their peers financially and operationally. The report reveals that these data-driven companies have a more mature data strategy and are more likely to adopt AI technologies, leading to significant improvements in various business outcomes.

Moving on, Sobel addresses the challenges faced by managed service providers in maintaining security compliance for their clients. A survey indicates that 85% of MSPs struggle with security compliance due to factors like lack of resources, expertise, or technology. The report suggests that automation platforms could be the solution to delivering compliance services efficiently and potentially driving business growth in this area.

The episode also touches upon recent cybersecurity developments, such as the FBI's recovery of over 7,000 LockBit decryption keys to help victims of ransomware attacks. Additionally, the U.S. Cybersecurity and Infrastructure Security Agency issued a warning about cyber attacks targeting Snowflake customers. Sobel emphasizes the importance of staying informed about such threats and taking proactive measures to protect data and systems.

Lastly, Sobel discusses the effectiveness of phishing training in improving security awareness among employees. He highlights a report showing that organizations integrating simulated phishing attempts with security awareness training experience a significant drop in employees' susceptibility to phishing attacks. This underscores the importance of ongoing training and testing to enhance cybersecurity defenses within organizations.

Three things to know today

00:00 AWS Study Shows Data-Driven SMBs Achieve Greater Financial Success and Efficiency

03:57 85% of Managed Service Providers Struggle with Security Compliance, Automation as a Solution

05:15 FBI's LockBit Recovery, CISA's Snowflake Warning, and Phishing Prevention

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https://getinsync.ca/mspradio/

All our Sponsors:   https://businessof.tech/sponsors/

About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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Want the show on your favorite podcast app or prefer the written versions of each story?

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In the podcast episode, Dave Sobel discusses the latest developments in AI and automation within the tech industry. ConnectWise has launched ConnectWise Security 360, an AI-powered cybersecurity solution that helps managed services providers consolidate security data from various tools to enhance threat detection and streamline response efforts. Additionally, ConnectWise has introduced Sidekick for Security, an AI-powered digital assistant that assists MSP owners and technicians in improving cybersecurity measures.

Asana has introduced AI teammates that can advise and assign work based on historical relationships and skill sets, showcasing the integration of AI into project management workflows. Raspberry Pi has partnered with chipmaker Helio to sell an AI kit for its microcomputer, reflecting the trend of bringing AI to portable devices with smaller models and processors. Cisco Systems has announced a $1 billion global investment fund for AI startups and new AI-powered products and services, demonstrating a significant commitment to advancing AI technologies.

N2WS has launched cross-cloud volume restore for AWS and Azure, providing data protection and enhancing security for organizations utilizing multiple cloud platforms. Axiant has expanded its services to include macOS file-level data protection, catering to the increasing usage of Apple endpoints running macOS. Google has scaled back AI overviews in search results due to concerns about sourcing and potential negative impacts on website traffic, highlighting the importance of transparency and trust in AI-powered features.

Dave Sobel emphasizes the need for organizations to adapt their SEO strategies in response to changes in how AI is integrated into search results. He advises businesses to focus on implementing AI solutions thoughtfully to complement human efforts and ensure practical benefits in workflows and operations. The episode concludes with a reminder to share the podcast with others to help grow the audience and support the show's continued success in delivering insights on the evolving business of tech.

Four things to know today

00:00 AI and Automation: ConnectWise Launches Security360 and Sidekick for MSPs

03:59 Boosting Tech Efficiency: Asana’s AI Workflows, Raspberry Pi’s AI Kit, and Cisco’s Strategic AI Investments 

06:26 Cloud Data Protection: N2WS and Axcient Enhance AWS, Azure, and macOS Services

07:54 Google Scales Back AI Overviews in Search Results, Addressing Sourcing and Trust Issues

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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Want the show on your favorite podcast app or prefer the written versions of each story?

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The National Institute of Standards and Technology (NIST) has taken steps to accelerate the processing of software and hardware vulnerabilities in the National Vulnerability Database by awarding a new contract to an outside vendor. This move aims to clear the backlog of unanalyzed vulnerabilities by the end of the fiscal year, demonstrating a commitment to cybersecurity.

However, amidst this positive development, the closure of the Affordable Connectivity Program (ACP) poses a threat to internet access for nearly 60 million low-income Americans. The lack of funding has led to the discontinuation of the program, leaving many households in financial distress. Efforts to extend the program through bipartisan legislation have stalled, highlighting the importance of government support in ensuring equitable access to essential services.

On the cybersecurity front, the dismantling of the 911 S5 proxy botnet, the world's largest, and the arrest of its administrator in Singapore, Yun-Hee Wang, showcases international efforts to combat cybercrime. The botnet, which conducted various illicit activities, underscores the ongoing challenges in cybersecurity and the need for robust measures to protect against such threats.

Furthermore, the episode delves into the gender disparity in the cybersecurity workforce, with only 20-25% being female. Factors contributing to this gap include unconscious bias and a lack of female role models. The discussion emphasizes the importance of addressing these issues through strategies such as unconscious bias training, diversifying recruitment efforts, and providing support for women in cybersecurity roles to foster a more inclusive and diverse industry.

Four things to know today

00:00 NIST Accelerates Vulnerability Processing as ACP Closure Threatens Internet Access for Millions

02:28 Live Nation Breach Highlights Growing Cybersecurity Concerns as 83% of Firms Plan Budget Increases

04:11 Open Formats Transform Data Industry: Snowflake, Databricks, and the Future of Cloud Services

05:26 CompTIA Data Highlights Cybersecurity Gender Disparity: Strategies for Recruitment and Retention

Supported by:  https://coreview.com/msp/

All our Sponsors:   https://businessof.tech/sponsors/

About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

MSP Radio is supported by our partners:

ABC Solutions · CometBackup · Firetail · HaloPSA · LogMeIn · Mailprotector · Pax8 · Rythmz · ScalePad · TimeZest · Transit AI

Supporting the IT services community through insights, analysis, and transparency.

Get exclusive access to investigative reports, vendor analysis, leadership briefings, and more.

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Want the show on your favorite podcast app or prefer the written versions of each story?

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In the podcast episode, Dave Sobel discusses three key topics: consumer behavior and inflation trends, US and Eurozone inflation data, and corporate pricing pressures. He highlights the slight deceleration in US inflation in April but notes that core inflation remains above the Federal Reserve's target. In the Eurozone, inflation unexpectedly rose in May, posing a dilemma for the European Central Bank. The trend of companies struggling to raise prices without affecting demand is evident, with consumer sentiment showing a disconnect between personal financial well-being and perceptions of the national economy.

Moving on, Sobel covers Google's data loss incident and SEO algorithm leaks, emphasizing the importance of robust backup and disaster recovery strategies for businesses. He also discusses the potential impact of large-language models on the B2B SaaS industry and the challenges small businesses may face in SEO due to Google's evolving algorithms. Additionally, significant channel updates are highlighted, including Microsoft and VMware's partnership, Red Hat's revamped partner program, and Tech Data's acquisition of OrcaTech in Australia and New Zealand.

Sobel underscores the implications of the consumer behavior shift towards greater price sensitivity, as reflected in decreasing consumer spending and rising household delinquencies. He also points out the changes in Google Search algorithms and the challenges small businesses may encounter in SEO. The episode concludes with a focus on licensing changes in the VMware ecosystem, Red Hat's move towards personalized partner programs, and the expanding service capabilities of distributors in the tech industry.

Three things to know today

00:00 Consumer Behavior and Inflation Trends: U.S. and Eurozone Inflation Data, Corporate Pricing Pressures

04:46 Google's Data Loss and SEO Algorithm Leaks: What IT Providers and Small Businesses Need to Know

07:06 Significant Channel Moves: Microsoft and VMware Team Up, Red Hat Rebrands Partner Program, Tech Data Acquires Orca Tech

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About Business of Tech: The daily MSP news and analysis podcast for managed service providers and IT services leaders. Host Dave Sobel covers AI for MSPs, MSP pricing and profitability, MSP M&A and private equity, vendor partner programs, MSP cybersecurity and liability, and MSP operations — and answers the question every story raises: Why do we care? Produced by MSP Radio.

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