I almost feel bad piling on LifeLock at this point... after all, I passed on writing when I first had an inkling something was up, at the beginning of April.
It was curious that they ignored a polite email where I articulated that I might be interested in their service, and that I understand no system is perfect, so I would like to know their views on some potential security vulnerabilities. After all, they purport to close some ID theft gaps, but they create some new weak links in the process. My friend Andy, who knows more about security and financial fraud than I, wrote this post about my concerns.
The rest is history ... Kleiner gave them $6 million a couple of weeks later. And perhaps skimped on the due diligence, since Wired has been following the company and turning up gems like
- LifeLock Founder Resigns Amid Controversy (such as identity theft and fraud ... hmmm ...) in May, and more recently
- Police Say LifeLock Coerced Unusable Confession from Identity Theft Suspect (a mentally disabled man who managed to partially thwart the CEO's own LifeLock protection plan)
Like I said, I almost feel bad piling on at this point (and wasting your time, since if you're interested in LifeLock you've almost certainly seen the latest already).
Why only "almost"? Because, as I wrote earlier this week, "the money has to go somewhere." In particular, Kleiner Perkins' money, and Bessemer's if there's any left, is now buying radio spots in the San Francisco area for these guys. Argh. On the other hand, if tracking down and threatening crooks becomes part of that ad campaign, I might not be so quick to change stations.
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