Stedman Blake Hood

Hear from the co-founder/CTO of Nivoda, the world's largest online diamond exchange. Lessons & stories from: reaching PMF weeks before COVID hit going all-in on their zero-inventory business model escaping the "reactivity trap" https://twitter.com/DispatchInbo...

When we started pursuing SOC 2 certification, I was about it. I thought of it as just another example of regulatory capture that destroys more value than it creates. Here's the story of my 180 on that. First, the history of SOC 2: It originated in the 1970s when accounting auditors needed a way to assess how companies handled financial controls. Over time, it expanded to include information security. As we went through the process, I realized that SOC 2 certification was far more than a stamp of approval. It went beyond our software architecture and data infrastructure. SOC 2 affected HR processes like off-boarding employees, managing permissions. Most importantly, I realized that without SOC 2, companies would have to independently evaluate the security of each prospective vendor before connecting their data to external systems. Can you imagine? It would be incredibly costly and error-prone. SOC 2 spares companies from this schlep saving time, money, and reducing the risk of mistakes. It isn t perfect. But I now appreciate its role in making our world safer, and reducing friction to companies working together