Spying by the National Security Agency and increasing demands by the feds for client data continues costing U.S. IT giants billions in lost revenue.
According to Electronic Frontier Foundation (EFF) legislative analyst Mark Jaycox and reported by Venturebeat, based on NSA documents leaked by Edward Snowden, successful agency programs likely continue despite the firestorm the disclosures created.
Jaycox pointed out that the fallout has instilled a climate of suspicion that has affected myriad U.S. tech and telecommunication firms. Jaycox said his research derived from available NSA-related documents and U.S. corporate quarterly earnings, such as in Cisco, where executives have elucidated on the damage done to business by the revelations. “NSA spying has impacted cloud-based company’s, telecos, software, everything across the board for U.S. firms,” Jaycox said.