Welcome to the Fiji Symposum 2019 here in Cairo, Egypt, where I'm very pleased to be joining the studio today with Mr Gamal Khalifa who is the head of the microfinance units for the Financial Regulatory Authority of Egypt. Mr Khalifa, welcome to the studio. Hello, Max. Thank you very much. I'd like to start off by talking a little bit about digital financial services and I wanted to ask you from your perspective what do you think it will take for the world's poorest people to prefer digital financial services over cash? And will digital financial services be enough for this to happen? Definitely. They haven't had a chance to use the financial services before, so as soon as they use such services and realize the benefit that they can get, the facility and the ease and the security of using the service, definitely it will change their mind and it will change their attitude. What can we do to encourage it? Is the technology going to be enough? Is trust going to be enough? What do you think? I believe, as I mentioned, by realizing how easy and it is secure, people will change their mind about using cash. I mean, like having an account before and using your credit card, we used to be very afraid of leaving our credit card numbers floating around, but now when we see that things are secure and nothing has happened, so we learned that this is the way things are moving towards. In terms of innovation, what innovations do you think are required in regulatory collaboration to create an enabling environment for digital financial services? Basically, innovation by including most of the service under the same technology. I don't like to pay part of it technologically easy and the other part will use cash, so getting all the services together and making sure that we don't leave things out, this will facilitate things instead of multiplying our tasks. How do you see the fintech sector reshaping digital financial services? Definitely, this is it. Without it, things will always remain slow and will not catch up with the current movement. We don't like to be left behind or nobody is. At a national level, what role do you think governments can play to enhance the usage of digital financial services? By basically enhancing the service, making sure that it is unified, it is clear, consumer protection is very important, every element should be included in any regulation and making sure that we are dealing with many types of people. The awareness level is very different in this case. We need to make sure that everybody is included. We do not work with one group and leave the others. Awareness is definitely the best part we can make sure that it is available. Here, closer to home, what is Egypt and the region like in terms of digital financial services? Egypt is part of it now. It is becoming in our work even with microfinance. For the last four years, microfinance has been a formal and regulated business. For the first two years, we are working on regulation. Now for the last two years, we are working on introducing new products, introducing services like payment services that would allow and facilitate for customers to use the service and to reach the potential of microfinance. We see it coming. We see it really coming. People are afraid of using a new service, but as soon as they start and see how things are easy and it will facilitate their lives and make it easier, definitely they will never get back to using cash again. Are you taking the time to beat at this event? I wanted to ask you, why is this event important to you? It is really highlighting the importance of technology in payment systems and the use of technology. It is definitely a sign of commitment that is required by everybody. All the stakeholders are there and they are part of their commitment. I believe this is an annual or becoming, I would say, an event that keeps rolling and taking all the stakeholders together and putting them all together in one program and one strategy that is really making things happen. Thank you very much for making this happen today and we look forward to catching up with you again perhaps at the next incarnation of this event. With pleasure, Max. Thank you very much. Thank you very much indeed.


Hello and welcome to the session in which you would look at cost structure and how would a cost structure for a company affect its profit stability? Cost structure is the relative proportion between the fixed and variable cost for a particular company. What does that mean? Each company will have cost, various types of cost. Cost can be broken down in theory, fixed and variable. Now the question is, what percentage of your cost is fixed? What percentage of your cost is variable? Is it 40% fixed, 60% variable? Is it 60% fixed, 40% variable? This is what we mean by cost structure. For example, automated companies, companies that use automation, they will have machinery, they will have equipment and they will have to invest in those companies in order to have those automated machineries. They will have a high fixed cost relative to a company that relies on labor. Why? Because labor cost is variable. If you don't need the labor, you can lay them off. It's easy. But if you don't have a business to run the machine and you paid so much for that machine, you cannot turn around and sell it. So which cost structure is better? And the answer is, there is no real answer. The answer depends on many factor. It could sometimes be, you're glad you chose fixed cost and sometimes you're going to say, well, I hope I never invested in fixed cost. It all depends on the future prospect of the company and the vision of the owners, the long-term stability, the appetite risk. How much risk are you willing to take? Now obviously, the more fixed costs you have, generally speaking, the more risk you are taking because it's harder to turn around when you have a large fixed cost. But if you have a high fixed cost, automated company, you will benefit more when sales go up and we'll see an example illustrating these concepts. So let's assume we are in the olive oil business. And to produce olive oil, you need to first pick the oil. So we have farms and we are picking olives. And this company here, this is what we're going to call the Sling company. They rely on labor and notice those are kids. But to make the point is they rely on labor. Big company, what they did, they invested in machinery and the way they picked the olives is through using a machine. Now, lean company sales is 100,000. Variable expenses is 60. Contribution margin is 40. Their contribution margin percentage is 40%. They have a fixed cost of 30. Big company, they also have sales of 100,000. Variable expenses of 30. A contribution margin of 70,000, which is a contribution margin of 70%. Fixed expenses is 60 and their profit is 10. So notice they're both making the same amount of sales and they're both making the same amount of profit. Although they have a different cost structure. Well, that's fine for now. Now, what happened if we change sales? So let's assume sales increase by 10%. What would happen? If sales increase by 10%, we're gonna see that big company will benefit more and we're gonna look at if sales decrease by 10%. We're gonna see that lean company benefit more. Let's first look at sales increasing by 10%. If sales increasing by 10%, sales is 110. Variable expenses goes up by 10%. Contribution margin is 44,000. Fixed expenses is 30, which is fixed. Net operating income equal to 14. For big company, sales increasing by 10% will yield a 17,000 profit. So notice big company benefited more when sales went up by 10%. Why? Because big company already invested in fixed expenses. So if they generate more sales, more of that sales will flow down to the operating income because they already covered their fixed cost. Now, let's reverse. Let's assume sales in a bad year went down in 10%. Well, sales went down for lean company by 10% down to 90,000. Variable expenses 54, their net operating income is 6,000. The net operating income for the big company now, if sales decrease by 10% is 3,000. Wow. Notice now lean company is making double the profit of big company. Why? Because in bad times, lean company is more protected. They can lay off the employees. They don't have to pay them. They have a less variable expense. Therefore they protect their profit much better than big company can because they bought those machines. They cannot just return them. And if they return them, they're gonna, even if they sell them, they're gonna incur additional losses and they don't want to sell them because the next season is coming up and you don't wanna get rid of your assets of your property, plant and equipment, how are you gonna operate? So that's why lean company is better during downturn. Let's also take a look from a break-even perspective and from a margin of safety perspective for lean and big company. If we look at the dollar sales to break-even, which is we'll take fixed expenses divided by contribution margin for the lean company. Now, if you don't know how to compute the break-even, please go to Farhat Lectures and look the break-even lesson because it's there. This is part of this lesson, which is the break-even point is $75,000, which means they break-even at 75. Sterling, they'll break-even at a higher. So they need more sales to break-even. So why? Because they have a higher fixed cost, that's why. Margin of safety, lean company, when we compute their margin of safety, which is current sales minus the break-even, they can lose up to $25,000 in sales before incurring a penny in losses, which is which represent 25,000 divided by 100,000, represent a 25% decrease in their sales, which is margin of safety. Also, we look at margin of safety in the previous lesson, go to farhatlectures.com if you don't know what margin of safety is. Overall, what can we say? Just kind of so we understand which one is better and which one is not, there's not really no answer. Here's what we can say. We can say that lean company in bad time, they can withstand lower sales before incurring a loss. So if you like to avoid losses, rely more on variable expenses because you can cut down on your expenses much faster. Lean is protected in bad years. Big is more vulnerable to a downturn in sales, but big can benefit more in good years. So in good years when they have a lot of sales, when it's a good season and they're selling a lot, they will benefit more because they already covered their fixed costs. And now each additional dollar, remember 70% of it, now it's gonna go down to profit. For lean company for each additional dollar in a contribution margin, only 40% goes to the bottom line. At the end of this recording, I'm gonna remind you, well, I haven't, but please go to farhatlectures.com, work multiple choice questions, invest in yourself, whether you are a student or a CPA candidate, I can help you in both situations. Good luck, study hard and of course, stay safe.


Hi and welcome to School of Hustle! I'm your host Sarah and this is a show where we chat with everyday entrepreneurs about everything that goes into starting a new venture. Today's guests will be helpful not only to those aspiring entrepreneurs but also to those interested in improving their lives. Bianca Jade is a wellness expert with half a million followers who forecasts and reports on emerging trends in the health world for national syndications such as the Today's Show, CBS Morning News, Dr. Oz, and regional affiliates across the country. And she's also the founder of Misfit, a site that shares wellness, health, and fitness advice. And her mission is to get people excited about exercise and wellness by revealing the fun and sexy side of the industry. It is wonderful to have you on the show. Thank you so much I'm excited to be here. I'm excited to have you here. I checked out your site and I've watched a lot of your stuff and learned a lot to be honest with you. You have so much information about health, wellness, fitness, beauty. I mean you cover it all but your focus is really on health and wellness and I'd love to hear your backstory on why you decided to start in that industry. So going way back I think you know I was around 14 or 15 years old and I just really loved fitness. I remember you know getting rollerblades as a gift one year and then I remember like at 15 my parents told me I could have a trainer and every weekend I would work out yeah I would work out me and a girlfriend would work out with a trainer and she really inspired me to you know stay fit through college and play sports and that kind of thing but you know fitness was just like a really important you know thread woven into my life so when um after you know several careers um I really had the opportunity to kind of decide what am I going to do as like my passion job because I feel like we have the jobs that we sort of you know like the jobs that pay the bills and then the job you really want to do. Right where's the jobs that like you think you have to do coming out of school and then you get this opportunity and it comes to everyone at different points in their life to like to really go for it right and uh and I thought you know it'd be really cool to do fitness um and I think you know I was lucky in that when I had this opportunity to really go after a dream and and essentially like for what had been for me a hobby you were very new in the industry I believe you started your blog in 2009 yeah I was actually working on it 2008 but officially like I had a launch party so why did you decide to do blogging I mean back back in that time it wasn't as easy as it is today where you can easily get website templates and things like that oh no I I really I made my whole website like I did the back end work and everything and I really can't believe I did that back then I'm so impressed because that is so challenging I'm impressed with myself because I wouldn't do it today and there's so many apps and everything that make people's lives easier and you didn't have any of that so you had to do everything manually in the beginning I did I did and I think you know that's part of um that's like really helped me to become a problem solver and I'm never really scared to like get my hands dirty but the reason I wanted to blog was because my headhunter I had a career in advertising and you were creative director was I was between jobs and my headhunter was like you know Bianca to set yourself apart and to really get you know the job that you want at the salary that you want you're going to have to show that you've been working on something and I was like well what the hell have I been working on I've been working on getting a job so my headhunter was like well could you blog about something and I was like okay and I you know I I realized I had to do this special project right so I started a blog about fitness fashion and trends in fitness that would help women like myself who are very you know fashionista and like you know I'm just gonna say it I'm a little uppity I like nice clothes and nice things I mean your outfit's fabulous the first thing I said when I saw you today is I love your outfit the off the shoulder look it's fantastic thank you well a lot of times you know girls who are really into like fashion and beauty and hair um they don't want to work out you know because it involves getting sweaty sweaty and gross and gross I wanted to create a destination you know for all women but specifically these type of women that were hesitating um on living you know a healthy lifestyle through fitness activity so that was like the beginning that was the notion and um and with this you know theme I was planning on getting the job and advertising of my dreams uh but really what it led me to was a whole new career in launching my own business so when when did that shift and you realize wait a minute I can actually make this into a real business well okay I mean I I didn't give the job of my dreams in advertising but now you have the job right so it all worked out but I remember thinking like oh I started this blog and I'm still not getting you know job offers um and then I was like you know this isn't just a project anymore this is something that I would like to build into a full scale brand so I took it from you know this blogging project into creating a 360 degree company and that's actually like you know what I was trained to do for my career in advertising so you talked about you know you started to have uh some ways you monetized it what was the first way you decided you found to monetize the blog well so I started with the ads and the ads were making pennies yeah and then I started reading um and following uh different bloggers who were you know giving advice on monetization and I learned that like really the only way to make money was to partner with brands or uh or ad firms that were creating opportunities that were relevant to your content yeah so I started putting ads up that you know that matched a blog post that I was writing about so if I was you know writing about like let's say athletic or lululemon or something like that then I would integrate ads for those products that I was reviewing and get a commission on them still so you're using affiliate revenue affiliate revenue still very low in terms of you know bringing in any income um but it starts it's the starting seeds and then once you build them all up they all yeah and then once those brands started realizing that I was placing ads they were contacting me directly and they wanted to form partnerships so I didn't make money you know being completely candid here I didn't make money the first three years of running my business yeah it was really putting a lot of money into it taking the risk of you know thinking what could this turn into and where where could I be you know where where are the areas that I could be making money from so I'm really glad that you know that I had the money saved to be able to do that because in the end um wow that income came in very fast it's so much of this in the beginning is self-promoting yes because you're you're the one that's running the business you're your best supporter and so you have to create you have to like boost yourself you do and you have to create a team as well and you know my agent was part of the team yeah that I was creating as my support system um you know I had to hire attorneys you know I was trademarking um different uh slogans catchphrases and of course misfit yeah so tell me about misfit why why call it misfit it just was like an urban way of saying like you know the girl that works out like misfit like fitness yes misfit with two s's was already taken and it was owned by you got it a little more trendy with disease right and you know I'm sure you know the trademark game is it takes a while yeah and so when you are building your company and you're you figured out like what your name is and everything you got to really hustle to get that trademark in um and to make sure that you own all of your branding uh and I never thought that that would really you know um be an issue down the road I just thought okay everybody has to do this they say have to do it but actually someone tried to use misfit no way and doing all of that right at the get go starting my business saved my butt because they were planning on going on NBC using my my brand name and so I was able with my team to do a cease and desist and protect my company so these are kind of the things that like you really have to hustle to do at the very beginning and they're you know they're annoying things like they take a lot of time you have to wait there's a lot of paperwork and expense involved but that's part of building a business um you know there's a lot of fun in terms of risk taking and getting creative but there's also that side of like really you know learning to be um uh very organized and you know know how to protect yourself because you could build this empire and then one little thing could crumble it it's so true you mentioned you did some travel hosting I did I also do travel you were like the travel diva I love all your stuff oh please I'm talking to the fitness diva over here but I would love to hear about what you do for travel hosting so for travel um it all comes from really that that fitness foundation yeah going on trips that are active that involve a lot of adventure yeah and um things like swinging from ropes or I've climbed I went to Nevis which is an island right near St. Kitts a lot of people are familiar with St. Kitts that's this is in the West Indies but Nevis is a very very small island that a lot of people haven't been to yeah it's beautiful it's natural it's just it's like a jungle and there's not really much in terms of commercialism I worked with the board of tourism there and the first day that I arrived on the island very jet lag they were like you're climbing a mountain oh great and I was like okay this sounds really exciting and they're like no it's like our one really big mountain oh my god and it's called Nevis Peak and it's just vertical oh what yes so basically I had a guide and we were climbing it like you're climbing and you're climbing wall essentially I had no gloves but it was an adventure yeah it was like and I had you know all of my cameras and everything and it was just me and this tour guide and it was just like even though there was so much pain involved and I literally did not expect you know this level of difficulty right that's what it was all about but I was able to write a piece about this experience and tell people everything they'd need to do it right yeah and and that's really like what traveling is about you know kind of like making those mistakes so your audience doesn't have to like that is so true I'm constantly telling people like you know my life isn't glamorous it's like one like crazy you know scenario to the next and people usually don't believe me but I definitely have all these stories and and actually I appreciate it I like living my life sort of in the unknown yeah that's probably why I'm an entrepreneur exactly yeah you know we're we're comfortable with risk and you say your life is not glamorous uh but it does seem glamorous and oh girl you know your life isn't glamorous either that's why I wanted to talk about it because people have this perception uh which kind of we created because we post the best parts of our lives right and that's what you do and so they don't see how much work it actually takes I kind of refer to it as the iceberg so you see just the tip of the iceberg but all of this underneath is really what's going on behind the scenes and so people will get this really cohesive well put together blog post but what they didn't see is your blood sweat and tears of you climbing this mountain after being jet lagged on a flight and you still have to try to make it look nice and glamorous in some way and get all the shots it's very it's very exhausting and I actually do um usually on instagram stories or IGTV I will post you know the kind of like behind the scenes and sort of like the outtakes of of my adventures because I find that people sort of like that stuff better you know it's more relatable yeah it is relatable um so um I don't always love those things because obviously like you know you don't have makeup on your hair looks all crazy when you're climbing a mountain yeah but it's relatable and um speaking of things that are relatable one of the things that you've shared that's really inspired me is your story of freezing your eggs yes can you tell us a little bit about that because I think it's so brave of you to share that story it's something that so many women have considered and and you actually did it so tell us tell us about that like why did you sideshare that with the world so um I love telling people that I was one of the first because now everybody does it and it doesn't seem that special um but it's still pretty special it was yeah it was it was special for me and you know um I'm I'm a very complicated person as I think anybody who decides to take on a career you know in front of the camera or you know whether it's YouTube or TV or you know shares their life publicly through uh you know through the internet we're complicated people and you see a side of us but there are all these other sides that you don't often get to see and this was me um becoming you know an onion and really peeling back the layers of you know what I wanted out of my life beyond this career that I had created so I've always wanted to be a mother and um and what I realized through the process of freezing my eggs was that I wanted to do it no matter what whether I had a partner you know as in a husband or boyfriend um or not and that is something that totally goes against how I was raised how I grew up um and what my family really you know ultimately wants for me so it was it was a it was a difficult piece but it was something that like you know I felt like we were talking about how you create we create value for for our viewers right and I knew that I didn't want to wake up one day whether it was in my late 30s or mid 40s whatever regretting that I never uh froze my eggs in that you know didn't at least you know have the insurance of possibly being able to have my own child and I'm so glad I did it because it's the one video that I get messages about you know on a weekly basis women that are much like me that are single you know not married in their late 30s early 40s that are thinking can I do this right you know and so it tells them that they can't but it also is a realistic video saying hey this doesn't work for everybody yeah you don't just blog you also are a show host uh on camera host girl I'm like we are so similar yeah we are I'm just trying to beat you through this through this like glass thing tell me about how did you get into that so um when I when I first started blogging I think I told you that like at the beginning it was like really slow going yeah making a lot of money then all of a sudden it was like I got all this attention right um Nike discovered me oh that's huge congrats he put me on a panel with uh Eva Chen and a few of these other like well-known bloggers a lot of them were like kid bloggers which was like a thing in fashion and uh and from there it was like I was getting all these pressing queries like can you come on our show and do a fitness fashion show um because fitness fashion was like a new concept totally and Lou Lemon was like just doing so well and people wanted like fitness fashion shows with Lou Lemon clothes and just all this like active wear and like there was this new term of athleisure floating around so I got to ride that wave and what I found was I really loved being on camera and I love talking to people about products so I started booking a lot of work our morning shows and all these health shows where I would talk about you know pain points that people were having and solutions that could be solved through products and of course those brands that sell the products love that I was doing that and you know many situations I was able to get paid by those brand brands to present those products oh that's fantastic I didn't even know that was an option but it makes sense that is an option and you can do that with anything I think as long as it's coming from an authentic perspective and you're not just like doing it because the brand is paying you to do it it all it's all sort of benefits everybody yeah so in addition to being a social media influencer a show host you also are a supporter for female empowerment and social issues and you even raised $50,000 towards the Special Olympics and other social programs like cancer research so thank you for doing that why did you decide to do that besides the obvious reasons of course well everyone wants to give back and we're so busy running our businesses that we have don't have a lot of time to do it so whenever people approach me and that like opportunity to fundraise like really synced up with you know my mission the mission of Misfit which is to help people move and thrive and and all of that I was like yeah I can do this it's easy to integrate into what I'm doing and you know there were they had to be things that really like spoke to my heart like the Special Olympics like hey these are athletes right these are like the bravest athletes yeah and so yeah I I did this whole thing with them where I repelled off a building oh my gosh what yeah I'm saying this is a lot of repelling and climbing there are lots your life is everything that horrifies me needles climbing jumping but you do it all you push past the fear I do and that was so worth it when I repelled down the building one of the Special Olympic athletes congratulated me and hugged me and it was so cool she was like I've done that five times but nice job and I was like oh my god oh my god yeah it was really funny and I actually ended up interviewing her about like all the repelling she's done so like these were just like cool fun things were fundraising was like it wasn't a job it just ended up being something that I found the time to do yeah the last charity that I did something for was the Honduran Children's Cancer Organization in in Honduras it was a hospital that I had volunteered at throughout my entire life when visiting Honduras and my aunt is actually the president of the of the foundation and so it's a very emotional place to visit because there are a lot of these kids that come from poor families that are there because they're in the terminal stages of their disease really in life and I was last there in June of last year and my my aunt took me to a palliative room where a little girl was probably gonna die you know a couple of hours and her father was cradling her and I remember thinking like what can I do like what can I do for these kids like even if it's just to make like those last few hours of life more comfortable so um so my aunt and I were like crying in the room and like you know I'm looking at this little girl's father and I'm like don't worry a minute and I will her name will not like be forgotten and I created a um a GoFundMe page uh basically honoring this little girl in her life um and we raised um pretty quickly five thousand dollars for the hospital so um you know it's it's kind of like in the same way that we have passion for our companies like I think you have to have passion for um for for these organizations that are just you know trying to help people that have no way to help themselves. I'm so happy that you're sharing that with people here and with your audience because if we can use our platform to do social good then it just helps everyone and it helps share your message and it relates back to who you are as a person. Well I think you know I mean we're both storytellers right and I think these stories are um so necessary um for you know people in our position to be sharing and constantly sharing no matter no matter what point we get to um in our in our careers and success as an influencer as a host as you know whatever whatever else I become throughout my career I will always you know tell these stories because I think this is how we learn about you know humanity this is how we learn about our neighbors um and this is how we also break down you know barriers and prejudice and you know racism anti-semitism all the stuff like has been you know resurging lately. Oh a hundred percent so you've done so many great things already uh what is next for mizfit? Okay so I haven't really like said this out loud but I've been looking at homes I'm thinking of leaving the city and uh setting myself up for writing a book because that's the only way it's ever going to happen. So you're thinking maybe of moving to the countryside and writing a book? Yes that's so artistic of you. I've been in the city for 16 years and I'm kind of ready to focus on bigger projects to take 500 concentration. Yeah well that will be one it's been so lovely having you on the show Bianca. It's been a blast. I have one final question for you. Okay do you have any advice for aspiring entrepreneurs like yourself? Yes um get comfortable with being uncomfortable is the first thing um because uh it just has to become like a state of being you know constant it's accurate yeah yeah um don't be too hard on yourself like you will be at the beginning yeah it's just part of it like and then you know we talked about like not taking anything personal so you can't you can't be hard on yourself you will mess up you will you know hate yourself for some of the things you've done you gotta let it go um my last one is get a dog and the reason I say this you need to get one then the reason I say this is because a dog brings perspective introspection and um helps you not be so sedentary as an entrepreneur because sometimes we become chained or glued to our desk or project and a dog means you have to and you have to walk your own dog that's part of it it means you you have to step away and breathe and take a break so after years of wanting a dog I finally got Frida Doggy that's actually her Instagram handle and she's a ten-year-old Chihuahua so we're both like aging gracefully together and she's incredible not only has she like increased my production and efficiency she's just helped me like really see the world in a more positive way and breathe because I have to go on like four four to five walks a day and it's so healthy that's so good to know because I really want a dog and um maybe I should get one it's time yeah it's one of my top tips for entrepreneurs yeah so it's been wonderful having you on the show Bianca thank you so much for joining us and thanks to everyone who tuned in today if you want to learn more about Bianca Jade visit Misfit.com and follow her on Instagram at Bianca Jade with her expert advice on wellness I can guarantee her tips will help you become your best self so that is all for this edition of School of Hustle keep up with all of our episodes on youtube apple podcast google podcast or wherever you stream and download podcasts and if you like what you heard please consider leaving a review share with your friends and subscribe to our show we'll see you next time bye


Welcome folks. This is Tom O'Brien of TFNN. We go five days a week. We go seven hours a day. We go 24 hours a day on the internet at TFNN.com. Always remember folks, whatever you think about, you bring about whatever you focus on grows. Hope everyone's having a great day, safe day. Let's make it a great night and a great week, folks. Don't take anything personally. Your truth is personal to you. Your own opinions and point of view reflect your own agreements and personal to you. It's no one's truth but your own. Mockin' wise! Let's take a look at it out here. We have the Dow Industries down 139. NASDAQ's off 74. S&P's down 25. Gold. Gold contract up $5 traded in 1982. An ounce. We have Silver Up 40 cents, $23.64 an ounce. Light Sweet Crew down to $1.32. $68.14 a barrel. Light Sweet Crew. Well, that's Light Sweet Crew. Notes and Bonds. Ten year note. Up 13 ticks. Traded in 114.14, the third year up 26. Ticks at 128.11 and King Dollar. King Dollar trading up 181 ticks. At 104.346, the year is at 106. The end is at 139. The British pound is at 124.01 US dollar. Our phone number is<PHONE_NUMBER>. Give us a call folks. One note's going on in your world. And the world of the S&P's, let's take a look at them. What do we have? Well, you get a pullback today. You got light volume out here. That's saying that, hey, guess what? This thing more than likely is not done yet. So he failed yesterday on pricing volume at the highs. Today, you got light volume on the way down. And when you have light volume on the way down, folks, that mark is not done going up. That's the bottom line. So, you know, we're coming into 93 million. You're only doing 53. So maybe we'll do 60 million, 65 million, if that's what we do. And, you know, depending where we close, if we close at the low of the day, that would change things. But if we go into the S&P futures, there's not a high volume low out here inside the futures right now. Pull this back. You can see what you actually have is that you have, when we just came down on that 10-minute bar 10 minutes ago, that bar has 44,000. But guess what? When we went topside there, you're going up with 56,000. So that's the battle lines right there.  We had no sellers down the bottom. It was down the bottom for, you know, the first time down the bottom at 10 o'clock this morning, 10, 10, 10, 10 to be exact. Yeah, 10, 10, 30 rather. You had contract volume of 60,000. Then you kept testing it, and you had 35,000, 35 to 60. So that's saying that this market still wants higher price, and you probably get higher price coming into the close. And then you get winter dressing, man. That's where we're at. Gold. Gold, well, let me do the queues first. And the X100. We take a look at the three queues. Same setup in the queues, right? You're back with 45 million. This is going into 63, so it'll probably do 55 or something like that. Now, this is at the lower end. Let me pull the queues up on there. This is at the lower end of its trading range out here. So let's see if it's set up the same way. Yeah, it's set up the same way. Let's set up the same way. We just came down. Yeah, those lows just don't have enough volume. We'll see how it shakes out, but they just don't have enough volume. Excuse me, folks. We go into the gold market. Gold market out here, bottom line, didn't hold price. Gold may have just set up another ABC down. Well, it did set up another ABC down. Real question is going to be, does it take out a B point? This B point would have quite a bit of volume. So the B point added 264 million on volume. So we'll see if that's going to be the case. But right now, we're going to confirm one down to 1902.  It had strength. So I suspect we're going to get down to that level. If you go to the GDX and take a look at the GDX, you're going to see that you had some volume in the GDX, but you gave it up on price in about two seconds, as you did with the GLD. So the GLD did the same type of set up. You can see you got up to the 183, 44, 182, 47. That's not a great set up. And we go to the dollar. We take a look at the dollar. It's all about this dollar, folks. Dollar once again is on the move. We're up 159 ticks right now. We're not far away from the first swing point. The first swing point is 105, 800. So we're at 104, 326. I expect the 106 number that I keep coming up with, folks, that happens to be the .382 of the whole move down. That's where I'm getting the one, you know. So we'll see. And what happens there is that that's a normal dead cat bounce. So we'll see whether it actually gets stronger then, but that's what that is set up for. AVGO, let's go take a look at Broadcom. The chip sector, of course, has been on fire. The low is 415, the high is 941. You are trading at 806, and they come up with numbers tomorrow after the close. So we take a look at this. Oh, my God, look at this. So in three days, it's gone from 676 up to 921. Holy cow. Man, oh, man. That is a total mindblower. So here, what is the question here? OK, sales. Let's go look at the sales and earnings per share. OK, so we take a look at what they're going to do here. They're looking to do $8.7 billion and $10.15 to the bottom line. Now, the reason this target is asking that is that if we go over to NVIDIA and VDA, they bottom line, when their sales numbers come out, watch this. They blew their sales numbers apart by like $5 billion. It's some outrageous number. Yeah. So they were thinking of coming in at $7 billion and they came in at $11 billion. Is that right? No, that's the next quarter. That's how this was shaken up. The next quarter, they were looking at $11 billion. They came in with $7.2 billion. AVGO, to go back to AVGO again. Well, actually, you want to go to NVIDIA. We go back to NVIDIA. The thing that's going to get intriguing with NVIDIA is that, OK, for some reason, it's going to be a gap down. Because this gap is not going to stay open, folks. That's the bottom line. Gaps are slides that don't stay open. It's just a matter of when they get filled. That being said, you might get a free gap play. So I wouldn't be shorting this right now until Broadcom comes out. The problem, of course, is that if Broadcom comes out with bad numbers, we will see NVIDIA also gap down. Stay right there, folks, to come right back. And we had a great show with our man, Mr. Bill O'Neill. He passed away, unfortunately, on Memorial Day weekend. So if you didn't check it out, you can check out either the 11 o'clock show this morning or the 2 o'clock show this afternoon, folks. That was the last interview that I had with him in 2014. Have a great one. Commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time.


Meanwhile, Governor Boega Oyutola of Oshun State has said it is not a bad idea to enhance the operation of Amotecun by having members of the security network bear arms. Oyutola gave this interference yesterday while defending his records at Governor of the Oshun governorship debate 2022 in Oshubu, the state capital. The governor's statement comes amid a subtle clamour to have citizens legally obtained guns in a bid to defend themselves even as the spate of crimes and violent attacks continue to be on their eyes. When asked if he agrees to having individuals carry weapons to fight for themselves, Governor Oyutola replied that these will result to anarchy.


The house rules live event. This week, take your ultimate team into traditional college overtime. Start the house rules mission to learn more. Let's do it. So if you're not familiar, ultimate team is this thing called house rules, where each week they'll have some bizarre set of rules. Last year they had one where touchdowns were worth like 18 points or something, it was really weird. All of them were bizarre, but I'm gonna be honest, this one is the coolest one that I've ever seen. Okay, so if you don't know college OT rules, college OT rules are so awesome. I have no idea why the NFL doesn't do them, by the way. College OT rules are like this. If I score, you get the ball and a chance to score. If you don't score, I win. That's it. So it doesn't really matter what team starts with the ball or ends with the ball. However, let's say my opponent is on offense first and I stop him on defense. All I have to do is kick a field goal to win the game. So, but either way, here's the team we're rocking with. You guys know I don't really mess around with the God squad stuff, but I do still have a really solid team. Got Baker at QB, Jim Brown a half back, Tori Holt, Tyree Kill and Theland. We've got Travis Kelsey and Kellen Winslow at tight ends. Got Shaz, Anthony Bar, Jalen Smith, Clomack. It's basically my Wheel of Mutt team, but slightly better. Without further ado, let's hop straight in. I don't gotta bore you. Let's see how many we can win in the next like hour or so. Let's give it a go. Potentially these games are supposed to be really fast, right? Ooh, my opponent's team. Actually, his top three is not that insane. So, similar overall teams, I like that. But yeah, I mean, these games are supposed to be fast, but potentially these could go on literally forever. If we keep scoring back and forth forever, I believe this goes on forever. And you start on the 25, I totally forgot about that. So, you're already in field goal range to start out with. So, it really is important that you score. Let's see if we can get like a hit stick fumble or something and just ice this real quick. Ooh, that looks like a run play to me. What do you boys think? Yup, yup, Clomack will get him. Okay, we got him. We got him. Phil Bensie's down. I need my music.  I love my short shorts. They feel good. They look good. Oh, oh, I know what it is. I know what it is. Wait, no, I don't, I don't know what this is. I have no idea what this is. He rifles it in for touchdown. All right, that means that we absolutely have to score a touchdown or we lose. Second and 17, IC press coverage on Tyree Kill. Hold those blocks, gentlemen. Tyree's got it. Let's go. We're down to the eight. Do I try this? Do I get a half back screen to Jim Brown? It's there. We got a block right there. Jim Brown, we get a little bit of a lag, but that still takes us out to the three. Okay, three yards to get my touchdown. Okay, he is in full. Okay, feeling should just 100% be able to score a touchdown here. Oh, I got it out to Barclay. He's got it. I should try the fake. Oh, I should have done a fake. That would have been way funnier. Oh, we get to pick again. I'm gonna choose to play defense. Okay, he's gonna run the ball. Solid yardage. Full of blinsy just took it for so much. Throw one underneath of the half back and we can't get to him. He's got the touchdown. Damn. 14 to seven. Here come the very predictable big blitzes. And that means I'm gonna put, oh, okay. He's pulling it off a little bit. I'll throw the slant. Here it is again. Max protects. Something should be open here. There's Tyreek.   All right, we're going for two. We're going for two. I don't want to do this anymore. I want to get into a new game against somebody new. Let's go for it, boys. He is far inside on Tyreek Hill. I can block Kelsey. I got six blockers for six men right here. So somebody should hopefully get open. Okay. He pulled off hard. Oh, come on. Get to that side. X, X. First goal. That was nasty. That's our first house rules win right there. Went for two after two back. Two consecutive touchdowns. We go for two and get it. All right, let's keep trucking. Got a little play action to start this game out. He's going to throw contested. That's one way to start. Shit. Dude, Tori Holt and Tyreek Hill. Oh, wow, he's running. Is that pinch buck? I've never, what play is that? Don't tell me that's pinch buck. I don't think I've seen that play once this year. All right, we're going to feed it to Tori Holt early. Oh, did I just roll for the first there? If I get this touchdown, 2,000% going for it. Tori Holt touchdown. Okay, here we go. Hey, we got it last time. I think we can do it one more time. Let's see these blocks hold up and I'm going to rifle this in to either Tyreek or Tori Holt, depends who gets open. There it is. There it is. Let's go. See ya. Have fun pinch bucking someone else. Easy dub. Let's get it again. He's got Fitz magic at QB and I think it's a run play right here. Is it a hat back dive or is it a stretch to the right? It is a stretch to the right. But that's pretty good deal right there. We're locking up. Fitz Patrick wants to go. Does he know? The coverage broke down. Why did you stop guarding him? All right, let's go get this shmoney. Bread acquiring time. Look at that. Wide open James White. Gonna wiggle him. Oh, did not get the wiggle. Kinda deserved to fumble that. But hey, solid, solid stuff. Let's get this touchdown. Let's get it quick too. Baker right up the middle. Okay, Baker, goal done. Fumble, feelings got it? I'm on the one. I'm on the one. Oh, that was very lucky. Okay, this play is actually really unstoppable.  It's like the blocking on it is way too good. I know I didn't get it there, but trust me, if I run this four times, I'm gonna score a touchdown. This is not even base fullback dive, but I'm interested to see how this one works. This is a slightly different variation. Did that was that not a touchdown?  Okay, people do this to me online all the time. They always get the touchdown. There it is, baby. There it is. I'm a pole. How is that not working? All right, we're going with a straight up QB sneak. If this is the first time I don't score in college rules, I'm gonna be shook. Straight goal line stood up against three fullback dives and a QB sneak. I'm just gonna take that L straight to the chest. F***. Starting on offense today. I'm going so hard. I'm going to, mm, there it is. Money! Seven to zero, nice. All right, we got a little bit of a run play. Oh, this is gonna be the first time we actually just straight clamp on defense. I may be on the wrong guy here. Oh, I'm still gonna do the user. Third and 11. I got pretty much everything locked up. And we got a sack with Deacon Jones. Defense is playing excellently. It's fourth and 19. I've got everything covered. Uh-uh, uh-uh, uh-uh. Let's go! My ball, over. Let's go! U of M fans, do not score on me. All right, we're gonna run some base coverage here. Some base cover for hard flats. That's a handbag dive. Swamped it early. Nice job. Don't run that. All right, I'm on the wrong person. He's gonna get a first here because I'm on the wrong person. It's my fault. That's entirely my fault. I feel like this is gonna be a run. Yep, there's the run. There's the run! I cannot believe you didn't fumble that. I hit him so hard. We're zoning everyone. Oh! Little QB run! There's the fumble. Bruh. So order of events. I hit Sticken. He fumbles, picks up his own fumble and then gets barrel roll tackled into the end zone. Understandable! Have a nice day!  That's what you get. That's your karma right there. I think the universe is saying for me to go for two here. They understand that I kind of just got cheated. So they will be kind to me here. They're gonna be kind to me and they're gonna let me throw this dart to Tori Holt over the middle. Blitz linebacker. Blitz! Yeah, that's what I thought. GG. Peace. Yee! Yee! Yee! Lenny, eight, one, nine. Let's see it, Lenny. Let's see what you got. Oh, out-route. Oh, I knew it! I knew it! I knew it, too, and I, ugh. Wow. Wow, I knew it, too, and I bit on that in-route. That double move actually got me. Oh, we got a run-play. All right, all right. Let's get a Blitz, boys. Let's be ready for this. Oh, we know it, we know it. Come on, Kevin Byard! Oh, B. There he is. Come on, B-Lin! Got an early touchdown. Do I go for two? I think I do. Actually, no, no, no. I'm taking this PAT because I know I can lock this guy up on defense. He got a solid catch, and then he got a nice animation on the run. I'll go with seven to seven here, and I'm actually gonna clamp this. Ooh, lights up the middle of the field. Dude, stop getting every animation. This is a hat-back dive. Oh, it's not. I'm kind of surprised. He's now on the one-yard line after getting that pass. I'm gonna need a mad blitz right up the middle. Okay, we're guessing a run right up the middle. We have everyone there. That's cool. We actually got this dog. All right, it's third and goal. Let's see what he does. It's a pass or it's inside zone. It's a pass. And he's still a contested fourth and goal. Does he take the field goal? He shouldn't. That was great defense, by the way. Ooh, is this a run? Is it a run or is it play action? Left side run? We got so many there, let's go. There's the stop I'm looking for. I'm coming straight out in a field goal. I'm not even considering not winning this game. Straight to a field goal. There it is, 42-yard field goal. Easy for Justin Tucker. Yeah, I was about to say if I shanked this kick, I would have been real happy. Yeah, you sit there. I don't even know who that QB is, but you sit there and think about your loss. Starting on defense. I love starting on defense. Let's just get like a pick. Just get an interception to start this. Ah, or it's a touchdown to start it too. Yeah, yeah, yeah, yeah, yeah. Oh, this man's got balls. I love it. I love seeing a man with a nice set of balls. All right, my friend. It ain't over. It ain't even close to it. Tyree Gale should get rocked right there. Good blocks. We get around the edge. We got a juke. Jim Brown got lit up, but I'm gonna get my touchdown. That's first and 10. All right, now you expect it. So we max protect and then throw an easy slant here. Yup, there's that blitz. And B, oh, I'll just go Baker, actually. I'll just walk that out of bounds. Now I will run it. I think Jim Brown's got, I think Jim Brown's got this. Nice, power him. All right, to the three though, to the three. Switch it up to quick slants again, and this is gonna be an easy touchdown after this blitz comes in. There's the blitz. Oh, his user came on it and really good defense. I should have thrown that to Theland. All right, I'll hit Theland this time. Oh, okay, I'll hit Tyreek. Can't ever predetermine, I guess. There's that touchdown. We have to get the two though. Oh yeah. No, how ever such a hole there. Oh, huge hole. That's too bad. Thanks for watching. Peace out.


Okay, so hi everybody. Welcome to a talk regarding the medical word of FIPI buckets. We're going to explain the topic soon. This is Tal and myself, Sharon. We work for Clarity for the past few years. We mainly do reverse engineering in the OT domain. So we break up PLCs, HMIs, engineering stations, etc. And we research OT protocols. And today we're going to talk about the research that we have conducted regarding some ICS vendors. But before that we want to show you our cool lab. This is our setup with different vendors, different field sees from all over the world. Rockwall, Schneider, Siemens, you name it. We have everything from everything. And this is where the research mainly was conducted. So today we're going to talk about what are change IP packets. We're going to explain why they're being used and who uses them. We're going to show some practical examples of how different vendors implemented the change IP packets. We're going to discuss the security implications and security aspects of what it means that you have change IP packets in your network. And finally we're going to sum everything up and we're going to release some of our customs not rules that we have developed according to our research. So change IP packets. Think of the situation that you're buying a new device and you want to plug it into a network. The device has no network settings but still you plug it into a network and somehow you're able to communicate with it. So how it is done. When you plug in your device inside your network you send a change IP packet, a magical change IP packet to the device. And suddenly the device gets a new IP address and you're able to communicate via layer 3 which is the IP layer. Yes it's true that you need to know some basic elements about the device. For example in modern Ethernet networks you need to know at least the MAC address of the device. But since MAC address is relatively easy element to achieve in a network. If you're sniffing the network you can see our responses or your tissues are. So it's relatively easy to get the MAC address so we assume it's a no problem. Before we dive in deeply into the magic change IP packets we want to give you some examples from the IT world regarding what a change IP packet is. So let's talk about what are magic packets. Think of the IT domain. Back then at the late 90's where computers was in the rise and the power consumption of the entire computer industry was in the rise as well. Many vendors and governments wanted to reduce the power consumption so they recommended people to shut down the network devices or computers when they're not being used. They was fine until the IT administrators wanted to conduct some maintenance processes but the computers were turned off. So they could not back up the computers. They could not perform any updates. They got really mad. So that's why AMD and HP came with a solution. The computer when it is not being used will be turned off but only the network card will be always connected. So the network card will always get electricity power and will constantly sniff the network. Once it detects a magical sequence of bytes in our case the Wacom LAN packets are 6 times f's and then 16 times the MAC address of the network card. Only then magically it will turn on the computer and now the IT admins can perform their maintenance processes. So the computer was turned off only the network card is connected to the electricity power. It detects a magical sequence of bytes and then it turns on the computer. That's in general the concept of magic packets. Another example we can find in the malicious world for example the chaos or the sea door backdoor. Those backdoors are constantly sniffing the network and once they detect a magic sequence it can be a magic sequence of bytes or it can be a magic sequence of attributes for example port knocking. And once they detect those magical sequences they will do something and in the malicious world they probably gonna send a reverse shell back to the attacker. So that's the concept of magic packets. Now let's talk about how this is how the packet looks. You see the 6 times f's and then 16 times the MAC address. And now that we've covered some classical IT examples of what the magic packet is I want to discuss what are change IP packets and why do we use them and what's so magical about them. So first of all we're human beings right we like things to be relatively easy simple for us we don't want to get up we want to buy a new device plug it into our network and then plug and play we can easily communicate with it. So that's why the change IP packets were invented because we're lazy because we're human beings we don't want to configure back to back physically in the devices. We just want to take the device plug it in somewhere in the network and then immediately start to communicate with it. Change IP packets allow us to do that because if you're connecting your device in the network you can send the magic change IP packet to the device the device will get the IP address and you could communicate with it further remotely. But what's so magical about it? So first of all you're gaining a new access via layer 3 so you're gaining a new access to device which you did not have before. Secondly those devices are acting in some way like a back door because they're constantly sniffing the network they're searching for magic sequences of bytes or magic sequences of attributes and suddenly they are doing something that you told to do. And third most of the protocols that we'll see soon are not being used constantly they're not common because they're being used only when you need to configure the device. So we treat them as very esoteric protocols that we rarely see in our networks. Okay what are the types of change IP protocols? First of all we have the standardized protocol. Standardized protocols are protocols which have many different commands for example to start the PLC, stop the PLC, maybe restart the PLC, read or write addresses, all the regular and basic functionality that you know. But one of those commands is the change IP or the change network configuration and we'll see an example. First of all we have profanet. Profanet is a standardized layer 2 protocol which is mainly used in Siemens environments and is being used to configure PLCs. For example the Simatic S7300 which can be found in many nuclear facilities is configured and maintained by profanet. You probably have heard about Simatic S7300 because that's the famous PLC that Stuxnet attacked a few years ago. As you can see profanet is a layer 2, it's a very standardized protocol. It consists of many different commands but one of them is the change configuration. As you can see in the picture we've used this functionality in order to change the IP of our device. Another example is the GESDI protocol by General Electric. This protocol is used heavily in the renewable energy industry such as turbines. And it is being used to control the Mk6 family of General Electric. What's unique about Mk6 PLCs is that they all run on QNX. QNX is a UNIX embedded operation system and because of that it consists of many very commonly used UNIX commands. For example the IF config. Another thing that you should know about the Mk6 family is that they have a very unique command which is command C which allows us to run any command that we want and it will run on a shell on the device. So we combined the two and we created a change IP packet using the C type command and we were able to run a shell command on the device and we changed the IP of the device. Another type that we would like to discuss today are protocols that the entire purpose is just for setting and exchanging the network configuration. For example we have OICDP which is RuggedCom Discover your protocol. That's a protocol that was properly invented by RuggedCom to maintain and configure RuggedCom devices. So we're able to maintain and configure RuggedCom switches and routers only via this protocol. What's unique about this protocol is that it has authentication mechanism which requires the users to create a unique hash which consists of the username and password of the device among other stuff. And only with this hash you can change and configure the RuggedCom devices. So we have been researching this protocol for a long time and eventually we were able to break up all the different fields of the protocol as you can see. And in the other you can see the authentication hash and in red you can see the IP that we changed the device to. Another type of protocols which are protocols which have magic sequences. Just like we have seen before with the Waycon LAN packets those protocols use a very unique sequence of bytes and only when they get those sequence of bytes only then they will do what they were being told. A very similar group is the magic attributes. Some devices are not even implementing a protocol at all. They're using the attributes of a different layer of the packet and when they detect a certain unique attributes it will trigger the change IP functionality. For example the GE general electric pack systems is a family of controllers just like RX3i or RX7i that have a very unique functionality. The CPU or the network card will consistently sniff the network just like a backdoor. And when it detects a special and unique TCP packet as you can see here with a very unique attributes of source port 1 to desk port 1 as you can see in the picture. Only then it will understand just like a backdoor that we're trying to communicate with it and then the device will take the packet will extract the destination IP address and it will set it for itself. This kind of a behavior is very similar to what backdoors are doing. Another thing important to notice here is that those devices, those PLCs will not take the destination IP if the device is not in stop mode. So if the PLC is in production mode the device will not change the IP. Obviously this is a security mechanism the general electric did in order to avoid harming the production. Another cool type of protocols are the encapsulated protocols. For example BNR didn't want to implement their own protocol. Instead they are using SNMP which is a very commonly used protocol simple network management protocol. But they're using the SNMP over ethernet which is a very uncommonly SNMP flavor. SNMP has two main functionality of get and set attributes. BNR chose to implement SNMP with dire specific OIDs. For example you can see here the OID and if you're getting this OID you will receive the IP address and if you're setting via SNMP this OID you will set the IP address. So for example we have constructed a packet over SNMP and you can see that when we set the specific OID that I mentioned before we were able to change the IP of the device. Now all those use cases are normal which means OT admins and IT admins are using them daily. But what happens when the talkers are using them? What happens when we're going evil to the dark side? The basic concept here is that if I as the IT owner, IT admin can say the magic word and change the IP of the device. Attackers can do the same. Attackers can say the magic word as well. So what can they do with it? First of all if they're changing the IP addresses of my PLCs in production obviously they can cause denial of service and do some bad stuff. Secondly attackers can achieve active and passive men in the middle but before we're diving in into what are passive and active men in the middle let's see how such an attack can occur. So first of all we have a basic setup of HMI communicating querying a PLC. The PLC is controlling a motor and the motor is running at speed of 212 rpm. Normally the HMI will query the PLC and ask for the motor speed. The PLC will respond with 212 rpm which is the normal speed and everything is good. But then the attacker inflaterates my network and sends the change IP magic packet to my PLC and asks to change the IP to .66. The PLC changes the IP and then the attacker changes its own IP to .10 what the PLC had previously and informs the HMI that is now .10. The HMI now thinks that the attacker is the PLC and starts querying the attacker as if it were the PLC and the attacker who wants to stay on stealth mode sends back to the PLC that is running at the speed of 212. But in the background it sends the PLC a change motor speed to 2,000 from 200 to 2,000 and then obviously bad stuff can happen. You should know that this scenario is not so imaginary a very similar attack was performed by Stuxnet in 2010 which conducted a men in the middle attack and changed the running speed of the centrifuge in an Iranian nuclear plant. This is a very likely to happen scenario if your network is not secured and that's why we need a lot of security. So yeah we see why we should have concerns about the change IP functionality but what is the awareness to this issue what are the events that are doing about it. So let's see an example. Seven years ago the CV was published regarding the change IP functionality in the CIP protocol. The CIP protocol is a common industrial protocol which is heavily used in the Rockwell ecosystem. It is a very complex protocol that can be used for a lot of stars from that acquisition and configuring the PLC. So one of the features it said the IP of the device. According to the CV changing the IP of the device can cause a denial of service. It can cause a denial of service and disrupt our process in our facility and break a lot of things. But the question whether it is a vulnerability or just a feature it is hard to answer this question because at the end of the day it is just a feature of the protocol. Since then Rockwell had some protection to the protocol and had some authentication to it and made it much harder to change the IP of the device but it is still possible today. Because if the OT admin can do that an attacker can do it too. Here is a bad packet with the IP that we set. Another solution that we already mentioned earlier is requiring that the PLC will be in stop mode. So an attacker won't be able to disrupt our production environment with that packet. It just won't work. Another good solution is requiring authentication in order to make configuration changes to our PLC which make a lot of sense. But not everyone doing that. Most of the cases you can just tell it to change the IP. So let's take a moment to look on the protocol that try to implement some protections. The Schneider net managed protocol which is used by the Schneider modicon to change its network configuration. So we looked on that protocol and in first looked it looked encrypted. But after looking it for a moment we saw that it just XO with a simple static hard coded key. We were able to extract this key and look on the protocol itself. We saw some credentials in the request. But when we crafted our own packet and sent them to the PLC we noticed that the connection are not being validated at all. Which means you can send whatever you want and it will accept it and change the IP of the device. So we contacted the vendor and they told us that they recommend to disable the service after using it for the initial setup. They are right with the problem with this functionality and this is why it is mentioned in the documentation to disable this feature. So yeah, that is another solution giving the user the responsibility to protect himself and disable this feature. But the question is can we always do it? Sadly the answer is no. In most of the cases the change IP functionality is part of the protocol. We can just disable and enable it. Not all the vendors are giving us this option. So what can we do? So here are some tips for making your network more secure. First of all configure a secure password. In some protocols as I mentioned changing device configuration is locked behind authentication. But if we don't set up a password or don't change the default one or set a simple password like 123456 we are not protected. So don't forget to set a secure password to your devices. Another option in some PLCs there is a physical switch in the PLC itself that can be changed between active mode and configure mode. And in some of those the PLC can be configured unless if the key is in the configuration state. So yeah, so don't forget the key in the state. So in that case I better change its configuration when I think product change mode. Yeah, so another thing that is important to do is separate your network, separate the users from the PLCs. And make sure that a user that is not supposed to talk to a PLC won't do it with a strict firewall rules. Because yeah, it will make your network much more secure. Another thing is monitor your network. Don't let an attacker stay undetected. There are some powerful IDS and IPA tools out there that can monitor and secure your network. Preferably using a solution that knows how to do deep inspection, how to do protocols and detect the attacks that we talked about. Because not all the tools can do that. So yeah, as Ron mentioned earlier, after our research we wrote some snout rules that will detect some of those potential attacks that we mentioned. And take some of those change IP packets. You will be able to see it later in our presentation. So yeah, so we are giving a powerful tool by the vendors to set the IP of our PLC remotely. But these give us some responsibility to protect our network because if we can use it, an attacker can use it too. So yeah, we've seen today a couple of different protocols that we've been researching. Those protocols allow us to change the IP of the devices in various ways. Most of those protocols behave just like backwards because they have some sequence unique bytes or sequence unique attributes. And the devices are constantly sniffing them for detecting changes and understanding that someone is trying to communicate with them. Then we discussed some of the security aspects of what it means in our network. And finally we gave some security tips of how to be secured. And we're going to also release some of our custom rules that we've developed according to our research. And that's a table that summarizes all the different protocols that we have been researching and the security and layers. Thank you.


I think we all can agree it's time to get back into some gaming news some news some rumors all of that jazz and we of Course have some nintendo direct speculation that is based upon something nintendo themselves Have done now. I got this story from nintendo life, but it's actually been circulating For I don't know multiple days now all over social media and all that But I felt like I'm gonna give Nintendo life credit because I love their website I love their youtube channel, and they're just a bunch of really great people So shout out to nintendo life. Let's look at them link to them as well down in the description Oh, and by the way, we're giving away a PlayStation 5 a nintendo switch or an Xbox series X to enter head down to the description Or to the pinned comment get all the details all that jazz will be announcing the winner in a live stream at the end of The month. Hey, we might even give away two of them if we somehow Miraculously hit 70,000 subscribers in the month of January. All right, folks. Let's get into this story So as you see or says nintendo direct archive appears to have been updated and it's got some fans excited now This happens actually by the way the archive gets updated spots get made Changes are made to the page pretty much every single time a new director is about to come So that's where the speculation comes from is the page was updated and in it being updated while we see no visible changes Typically, that's something on the back end getting ready to launch a nintendo direct So here's what the article says it's been a while since nintendo help a proper direct you can say that september 2019 You can go all I think back to april or may when they did a nintendo direct mini a real nintendo direct mini, but going on So I went the night next broadcasts take place according to a post over the gaming leaks and rumors subreddit There might be one on the horizon now. We've already talked about how nintendo's have one in every single january except for 2016 So something's brewing With the assistance of visio spark, which is a website that is able to monitor when other websites were last updated You know they go through the code base. They can tell when files have changed It's been discovered that nintendo direct archives was modified on multiple Occasions last week's not just once not just twice several times in saying this it could just easily be a false flag As another post in the same thread points out the page seems to be regularly updated Who even knows anymore and for regularly updated reasons? I mean the page also handles all of the minis they've had like the the partner showcases all that jazz the page handles a bunch of different stuff, so It'd be an updated regularly when nintendo's actually been regularly having partner showcases indie worlds all that Isn't that surprising? But take that for what you will while nintendo has revealed some of its lineup for 2021 Obviously fans are eager to find out what else it has planned for the year Super Mario 3D world plus bowser fury is also out next month and there's still things to learn about that So obviously we presume there's a direct or some sort of presentation happening for that game The last direct nintendo help was for its theme park Super nintendo world towards the end of last year before then it helped a series of mini direct showcasing partner games What do you think could this minor webpage update to the nintendo's direct archive be a sign of things to come? What do you want from the next nintendo broadcast share your thoughts down below?  Thank you so much for this information. So what do I think about this? I think it's Definitely a sign something's going to happen. The question is I don't think the question is Are we going to get a video presentation called a direct or a showcase or whatever this month? I think it's a given that it's going to happen. The question is what will it be about? Is it going to be a massive general direct, which man my hair is messy today Is it going to be a massive general direct like we hope for it to be or is it going to suck? Is it going to be I shouldn't say suck? I Don't know. Is it going to be something that we maybe want less of like another partner showcase.  Are we going to get something even crazier like That leads to us knowing the entire 2021 lineup because after all after I guess monster hunter rise. We don't really know what exclusives are coming to switch the rest of this year and Super Mario 3D world isn't even a new exclusive game although Nintendo treats them like it is I can't blame them since the Wii U flopped So poorly they clearly are going to treat it like it's a new game plus There's the new content and I am excited about the new content in fact that new content is Precisely why I'll be picking up the game in addition to the fact. I really enjoy 3D world I know not everyone it's not everyone's cup of tea, but I personally really enjoy 3D world So I'm really excited about what this could be if it's anything them updating the website to me It happens all the time But Nintendo's been having a lot of these mini smaller things all the time including that most recent Nintendo world Direct so I honestly think that this does mean something's going to happen. I just don't know what So I'm interested in what you guys think it is in fact I'll probably put a poll up later today on the channel in the community section asking you guys Hey, you know if there is a direct this month. What what what do you expect a general direct of mini a showcase partner showcase a Individual game direct for like, you know, Super Mario 3D world and Bowser's Fury, which comes out in February Do you expect it to be like another Pokemon director something? what what could this be if there is anything at all because I'm just ready for something. I think we are in 2021. We're ready to move forward We have a vaccine out there for the pandemic God knows when it's gonna actually get around and everyone's gonna have it sounds like it could be two or three years Although most of the most critical people should get it this year our elderly And all that sounds like they're mostly gonna be taking care of this year But the rest of us might have to wait a while, but the rest of us are also the lowest risk So maybe we end up getting back to some sense of normalcy this year if that can even happen What I don't even know what normal is gonna look like once we're past the pandemic and we take down the restrictions And we're not saying you were a mask in every store I don't really know like what normal is gonna look like maybe maybe that is the new normal Maybe we're never gonna just not wear masks in public anymore. I have no idea what I do know is we're ready for fresh new News content information. This is why a lot of us are getting kind of hyped for a potential direct because we're looking towards Nintendo Which is the company that's just at the top of the heap in terms of selling We're looking towards them to lift us up and start 2021 strong and letting us know some major games coming this year Would be a great way to start off 2021 for many of us This isn't a discount what's going on PlayStation 5. Yes They have the ratchet and clink stuff coming soon and man does that game look so Freaking good. It's just so little of us have a PlayStation 5 to really fully experience the masterpiece that that game Likely is going to be obviously we need to hear some news from Microsoft as well They need to at some point in 2020 2021 here tell us what we're going to get they've teased a bunch of games But none of them have been given like release dates or timing. So we really need to know I'm not just talking about Halo Infinite I mean, there's games I'm more excited for from them than Halo Infinite, you know Rare's next game looks utterly intriguing to me Can't forget medium man that game looks great Like I'm really excited for what they have in the worst too, but Nintendo is right now the lead platform Worldwide 80 plus million in sales just past the 3ds It's time Nintendo. It's time you tell us what the hell we can expect this year Or at least tease things that we can hopefully look forward to this year Like if Breath of the Wild 2 doesn't come out this year, it's okay if you still tease it We haven't seen it in quite some time. So it would be nice to have like something Especially in wake of age of calamity Also switch pro anyone. I mean they could obviously mention switch pro. There's rumors that it's supposed to be coming out March Anyways rumors reports, whatever, you know, who really knows could be a holiday thing Like the switch light was beats me, but I mean, I'm all for some switch pro goodness some switch pro Amazingness, I mean we've already got some like stuff coming from internal OS related things that we've talked about again video up here But anyways, that's what I got for you guys for now We'll get to some other gaming news coming up, you know, there's always something brewing. This is after all The biggest entertainment industry in the world in video games. All right, folks I am today Robert Jets from Nintendo Prime.  That's like the logo is like peeling off and you know It is what it is. It's a pandemic. I'm gonna wear some stuff. I've had for a while. Sometimes all right, folks I'll get you guys in the next video


In this study, three male patients presented with proton area and pathological changes suggestive of Fabry disease. Clinical and laboratory tests were conducted to rule out other potential causes for the symptoms. Electron microscopy revealed numerous membrane-bound inclusion bodies in podocytes, which were confirmed by biochemical testing to be absent of Fabry disease. Further investigation showed that the patients had taken certain medicines, including pitivastidine calcium, chlorithromycin, loxoprofen, and oprodysalone, which may have caused the inclusion bodies. This suggests that caution must be exercised when treating patients with such medications as they could potentially cause similar side effects. This article was authored by Atoshi Sakuraba, Takahiro Tsukamura, Tashi Tanaka, and others.