Today on The Breakfast Club, Bill Davaris Talks LifeLock Identify Theft Protection, Dangers & Benefits Of A.I., Insurance In The Digital Age. Listen For More!
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Speaker 1 (00:00):
Hold up.
Speaker 2 (00:01):
Every day I wake up. Wake your ass up.
Speaker 3 (00:03):
The Breakfast Club.
Speaker 2 (00:05):
Y'all finished or y'all done?
Speaker 3 (00:08):
Morning, everybody.
Speaker 1 (00:09):
It's DJ Envy, Jess Hilarious, Charlamagne Tha Guy. We are
The Breakfast Club. Law and the Rose is here as well.
We got a special guest.
Speaker 2 (00:16):
In the building. Yes, indeed.
Speaker 1 (00:17):
We hear his commercials all the time, the live reads,
the sponsorships.
Speaker 3 (00:21):
We have from LifeLock, we have Bill DeVars. Welcome. Good morning.
Good morning. Thank you for having me.
Speaker 4 (00:26):
Bill, I've been waiting to talk to you or somebody
from LifeLock because I just keep saying to myself, if
this is really happening so much and people's identities are
getting stolen so much, we need more than commercials.
Speaker 2 (00:36):
We need to.
Speaker 4 (00:36):
Hear firsthand experiences, why y'all decided to build this, how
regular is it?
Speaker 2 (00:42):
I got a long list of questions.
Speaker 3 (00:44):
I can't wait. Hit me.
Speaker 2 (00:46):
Now, how did it start?
Speaker 4 (00:46):
Because I spoke to you at the iHeartRadio Music Festival
and you told me that it started with a personal experience.
Speaker 3 (00:52):
Well, For me, I have a personal experience, but I
think the way the company started was that the world
started going digital. And bad actors, bad people started realizing
that because we spent so much time online, on sites, clicking,
clicking away at everything, huge opportunity for the dark web
(01:15):
world to take advantage of citizens.
Speaker 4 (01:18):
I thought about the fact that AI can clone your voice, right?
It can recreate your face. It can imitate the way
you communicate. And a lot of times we go on
these sites, we never read the terms and conditions. So
we don't know what we're giving up, right? So what
does identity theft even mean anymore? We might've gave these
people permission to use us.
Speaker 3 (01:37):
You know what? I think you nailed it because the
fact is that right now, like your social security number
is worth about $ 10 in the dark web.
Speaker 2 (01:45):
Damn. Yep.
Speaker 3 (01:47):
And the odds are all of our identities out there
And there's a whole marketplace where people are just selling.
Speaker 5 (01:54):
VPN.
Speaker 3 (01:55):
We're just part of a batch of names and social
security numbers and identifying verified IDs. People are picking them up.
And what they're doing is they're essentially tracking you, right?
So it's almost like surveillance, right? They're online tracking you.
And now with AI, it's no longer like a warehouse
(02:17):
in Slovakia with, you know, humans banging away at keyboards,
like one person can actually deploy a thousand agentic agents
that are bots that are building deceptive sites.
Speaker 6 (02:31):
Wow.
Speaker 3 (02:31):
And the sites are so good. The imagery is so good.
The mimicking, the deep fake is so good. You guys
see what AI is like, right? You can't even distinguish
between a celebrity and a, you know, the fake one
or the real one that now they're just deploying, you know,
millions of sites.
Speaker 2 (02:48):
I've seen a video of Envy.
Speaker 4 (02:49):
He had Envy kissing another guy that's like his mentor,
DJ Clue.
Speaker 3 (02:54):
That was a yeah. How'd you feel about that? That
was a yeah.
Speaker 2 (02:58):
It looked very real. I mean, extremely real.
Speaker 3 (03:01):
Unbelievable. He's lying.
Speaker 1 (03:02):
But question, so how does LifeLock protect somebody?
Speaker 3 (03:06):
How does the procedure work? Look, there's three. There's a
million ways we protect you, but the three ways you
should really care about is LifeLock has... guaranteed restoration. So
what does that mean? If something happens to you, you
have to go, you, you now have to restore your credit,
(03:26):
your identity. You got to clean up your name from
all these data broker sites, that whole cleanup. And if
you've been financially compromised, we will restore those funds. A
hundred percent guaranteed up to $ 3 million of coverage.
Speaker 6 (03:41):
Really?
Speaker 3 (03:41):
So that, yep. So you're covered up to 3 million.
That's something a bank can, A lot of people think
their bank takes care of that, right? Nope. The other
thing we do is the tech proactively alerts you. So
if somebody is opening up loans, let's say suddenly this
AI bot is opening up 35, 50 loans, mortgage loans,
(04:05):
home equity loans under your name, you're going to get
a notification that says, is this you? Did you just
open up five loans? And when you say no, It
triggers a workflow on the LifeLock side where the actual
restoration expert will call you and be like, hey, we've
picked up this suspicious activity. Thank you for saying no.
(04:25):
So there's proactive technology. And then there's, God forbid, something happens,
almost like an insurance policy.
Speaker 5 (04:33):
In your personal experience, you got an alert through.
Speaker 3 (04:38):
Oh, I got more than alert.
Speaker 5 (04:39):
Well, you got to build, too.
Speaker 6 (04:41):
But there was some technology that kind of let you
know that there was some things happening after.
Speaker 5 (04:46):
Well, maybe you talk about what happened.
Speaker 2 (04:47):
Yeah, yeah, yeah.
Speaker 3 (04:48):
I mean, I got to really, it's just so coincidental
because when I started working on the brand, of course,
I was like, I understand what identity theft is. I
get it. We live in a modern world. Boom, I get,
something happens to me, right? I get this IRS notice. Meanwhile,
LifeLock was alerting me before and I didn't really, you know,
(05:11):
pay attention to it. And I owe a lot. I
don't even want to say how much money I owe,
but I owe like an extraordinary amount of money. And
I'm like, for what? And it's this business that I
don't own, right? An affiliate marketing business. So I call my...
Right away, I call my accountant and I said, what
(05:33):
do I do? He goes, how did you... Do you have,
he goes, did you get any other notices or anything?
I go, wait, let me check my life lock. I'm like,
oh my God. And he goes, call life lock now.
So I call life lock, restoration expert immediately gets on
my case. She starts locking everything down, locking the credit,
(05:55):
telling me exactly how I have to, notifying the IRS.
I'm starting to build my case because you got to
build a case with your IRS. You got to let
the IRS know. you know, that this has happened. And
so like this, the, the, we have us based restoration experts.
It's not like you're calling another country. It's somebody whose
(06:17):
entire job is to restore Americans lives back to normal.
So she, she put, she just puts this protocol to action. And,
and I gotta be honest with you, like in like
two weeks, I was all clear. I even got issued
a new, some new verification codes from the IRS. So
when I do my taxes, I do them differently. But
(06:39):
somebody opened up an affiliates marketing business using my social
security number and ID. And I guess it's like a
money laundering thing that people do. It's very common. You
can look it up. FBI knows all about it.
Speaker 5 (06:52):
People don't know how common that type of stuff is.
Speaker 6 (06:54):
Like they do like apartments and bank accounts or whatever,
but like, whole businesses and lifestyles uh we use it
under people's identities is very common yeah.
Speaker 3 (07:04):
People buy homes they uh buy cars they credit cards
yeah credit cards the the business thing is interesting because
it's literally uh it's a money laundering thing like you
want to move cash you want to run it through
legit companies but you yourself can't you don't want to
be right you're a bad guy you don't want to
be connected to that company well you're going to use
(07:24):
people with good credit people's IDs with good credit and
start opening up companies.
Speaker 4 (07:30):
If my information is already on the dark web, am
I trying to get it back or I'm just trying
to make the information useless to whoever steals it?
Speaker 3 (07:41):
Great, great question. What LifeLock will do is try and
clean up who's got it because the odds are it's
data brokers who are, you know, let's say you, I
don't know, maybe years ago you signed up or something,
a subscription or something, right? They might be selling companies
and websites and blogs and all kinds of stuff might
(08:01):
be selling your info. Jesus Christ. And these data brokers
pick it up and then they, it's like a marketplace.
They're like, hey, who wants Charlemagne's information, right? Like you
fall into a certain profile and there's like transactions being made.
People are actually selling, you know, Americans' IDs, right?
Speaker 1 (08:22):
And how much does it cost.
Speaker 3 (08:24):
To protect yourself? $ 10 a month. $ 10 a month.
Speaker 2 (08:27):
Right.
Speaker 3 (08:29):
For $ 3 million in coverage.
Speaker 1 (08:30):
It's not levels.
Speaker 3 (08:32):
It's not tiers. There's tiers. Okay. But for a decent,
for what you want, it's $ 10 a month.
Speaker 1 (08:38):
What's the higher tier from that?
Speaker 3 (08:40):
What else is a cover? Because you said there's tiers.
So there's tiers that are higher. I mean, it all
depends on the promo codes, right, of the day. But
like the tiers that are higher could also include your family.
So you could actually start to add your parents, for instance,
or look, kids are important because I have a daughter
(09:04):
in college. Hey, Gigi. I do a little shout out
to her. You know, she might have a clean credit, right?
Because her credit is super clean. That is so valuable
to people.
Speaker 2 (09:18):
Right?
Speaker 3 (09:18):
So people don't realize that. They're like, oh, it must be,
you know, you must be making a lot of money
and you're a high value target. That's not the case.
All of us who are working on our credit or
we have clean credit, we're all vulnerable, right? Everybody. Everybody is.
One out of four Americans is a victim of identity theft.
It's inevitable.
Speaker 4 (09:38):
Yeah, I mean, like I said earlier, man, we get
on these social media sites and we've been on some
of these sites for literally a couple of decades now.
We don't know what the terms and conditions are when
we sign up to these sites. So what information are
we casually putting on social media that scammers can now
use against.
Speaker 2 (09:55):
Us with AI.
Speaker 3 (09:56):
So they'll build a dossier so that the power of
AI is that it could build a dossier around you.
It could follow you on social, pick up photos, pick
up what you like, sites you visit, right? It's not
saying that you landed on a great, you know, you know,
(10:20):
reputable site and like that reputable company is selling your
ID I'm not saying that like what I'm saying is
it's so easy to deceive people that you might you
might think you're on ford.com but it's not ford.com that's
what's going on right now and like you might be
(10:40):
reading an article and there's a hyperlink and you're like
oh I want to see the video that they're talking
about right you know how people they tease you out
on the video yeah That link, you don't know where
that link's going. Yeah, my wife got that one time.
Speaker 1 (10:53):
She was booking a flight for something.
Speaker 3 (10:54):
I don't know what it was.
Speaker 1 (10:55):
She had to book a flight. And I don't know
why Mercedes didn't book it, but my wife had to
book a flight. And when she Googled, let's say it
was Delta, Delta didn't pop up. It was the first
thing that popped that looked like Delta, but it wasn't
actually Delta. And when she clicked it, she put her
information in and she realized it was. Thank God it
was through American Express and we were able to cancel it.
But her information is out there now. Her address, her
phone number and all that. So it's, I don't know
(11:17):
how companies can do that, but.
Speaker 3 (11:19):
That happened to her.
Speaker 2 (11:20):
It feels like LifeLock is like insurance now. Like you
have to have it just in case.
Speaker 3 (11:26):
Yeah, I mean, you need insurance. God forbid someone... I mean,
I was just commuting in today. I saw a car accident.
I'm like, all right, that's why you have insurance in
New York, right? With the way things are going, with
the way things are going with AI and everything else
that's going on, why do we not have this insurance?
It's $ 10 a month. Think about the other stuff. You
probably watch more than... that annual fee in Netflix movies, right?
(11:52):
But you got $ 3 million in coverage for you and
your family.
Speaker 6 (11:55):
Who insures, like, LifeLock? Because, like, with the bank, if
my money messes up in my account, it's FDIC. With
you guys, where does that $ 3 million come from? Like,
where are y'all grabbing from?
Speaker 3 (12:06):
So... I'm not the head of finance, so I can't
tell you. And I'm probably not allowed to tell you
exactly who is building our risk profile of our insurance company.
But it's insured by, I'm sure, insurance companies and other
partners and enterprises that specialize in insuring large, huge companies
(12:29):
like LifeLock. But you should know that it's a restoration
guarantee and that $ 3 million is real.
Speaker 4 (12:38):
You know, people hear identity theft protection. And I'm sure
they're probably thinking, what can LifeLock actually stop in regards
to that? And what can't it stop?
Speaker 6 (12:49):
Right.
Speaker 3 (12:51):
So what it could do is it could jump in
with the right timing to probably shut down something because
of the alerts. You could toggle and lock all your
credit with one touch. It gives you power to do that.
Like literally on my LifeLock app right now, I could
just shut down all my credit, which shuts down a
(13:14):
lot of things. So proactively, it's got perfect timing to
maybe stop major damage. And then what it actually can
do is bring you back. How do I say this?
It's almost like something traumatic happens in your life and
(13:34):
Whenever something traumatic happens in our lives, we lead busy lives.
We got to put our life on pause to go
clean up what? Our identity? Who's got the time to
do that? Who's got the time to go talk to
the banks, the credit cards, the IRS, all these people
that you now got to go talk to? We do it.
So we do all of that for you. As far
(13:57):
as like being the ultimate preventer where we're going to
lock down the dark web, LifeLock can't lock down the
dark web.
Speaker 2 (14:05):
Lord have mercy.
Speaker 3 (14:06):
You know what I mean? Like the way things are
going with AI, who's going to, I mean, the US
government can't lock down. The FBI just created a whole
new branch called AI fraud. They had to create it
last year because AI fraud is so, so big.
Speaker 4 (14:21):
Are criminals using AI faster than companies like LifeLock can
build the technology to stop it?
Speaker 3 (14:30):
Um, In my personal opinion, I do think that what's
happening in the bad actor world is surpassing what the
commercial world can keep up with. And I bet you
if there was a government official here, they would say
the same thing because they're keeping an eye on it.
And it's international. Let's be honest about that. It's not
(14:53):
really just a domestic thing. It's like international bad actors.
There's all kinds of stuff going on. We are the
number one consumer in the world.
Speaker 2 (15:03):
Absolutely.
Speaker 3 (15:03):
So we're like target number one.
Speaker 2 (15:06):
That's how I feel when I talk to these AI guys, right?
Speaker 4 (15:10):
Because it feels like the technology for AI is advancing,
but also, no, they're trying to increase the intelligence and
the safeguards at the same time.
Speaker 2 (15:23):
I don't know if that's possible.
Speaker 4 (15:24):
I don't know if the safeguards can win that race
against the intelligence of the AI.
Speaker 6 (15:28):
I don't know.
Speaker 3 (15:30):
I mean, I think the great X factor is money.
Because you're like, what are we going to do? We're
competing in a global market with China, Europe. We got
to stay on top. It's America, right? We got to
be the cutting edge. It's a tricky one.
Speaker 4 (15:53):
I asked that question to somebody verbatim. I said, so
are you choosing safety over growth? Because, you know, to
your point, the growth is the money, right?
Speaker 2 (16:02):
You know what I mean?
Speaker 4 (16:03):
So at some point, one of these AI guys has
to say, all right, it's just all about safety.
Speaker 2 (16:07):
Forget the growth of the company. And I don't think
that's going to happen.
Speaker 3 (16:11):
Well, I do think that there's going to be safety
AI companies that are going to be a big part
of our lives. And the way we use technology, LifeLock
certainly is going to be one of them. Meaning, remember Terminator?
Speaker 2 (16:29):
Yeah, yeah.
Speaker 3 (16:30):
Remember at some point, like I forgot what it was.
It was like either Terminator 2 or 3 where Arnold
switched over to being like the good guy. I think
that's what's happening is that the only way to fight
bad AI is with good AI. I mean, think about it.
Speaker 2 (16:46):
Yeah, no, you're right.
Speaker 4 (16:47):
So if every time security gets smarter, right? Criminals get
smarter too. When do we the consumers ever actually get
ahead in this situation?
Speaker 2 (16:56):
Yeah.
Speaker 3 (16:57):
I mean, we... Look, we're going to be the moneymakers, right?
We're going to be feeding these companies and technologies and
all that. I think we just got to wake up sooner, soon, now,
and embrace the reality that even ChatGBT could be serving
you a bad link.
Speaker 2 (17:19):
Yeah, yeah, yeah. Oh, my God.
Speaker 3 (17:22):
Think about that, right? Because what is it doing? It's
scraping the whole web.
Speaker 2 (17:26):
Oh, yeah.
Speaker 3 (17:27):
AI can trick AI. AI can trick AI.
Speaker 6 (17:30):
It's like how Google AI is like, if you, what
I've learned, you just depend on Google AI. It might
not be the best source because it compiles from what
it scans across the web.
Speaker 5 (17:38):
Like you just don't know where some things are coming from.
Speaker 6 (17:39):
Right.
Speaker 2 (17:40):
AI can trick AI.
Speaker 3 (17:41):
Of course. Because, you know, especially when companies are going
really fast, think about it. Think about how fast, like every,
every hour, every day they're developing, things are changing every day.
Look like, um, They're trying, they're scraping, the LLMs are
scraping YouTube, Reddit, comments section, social, whatever. Who knows where
(18:04):
somewhere there's a crack and a bad actor could be
putting fake comments up or reviews or a deceptive site.
Speaker 5 (18:13):
That's scary.
Speaker 2 (18:14):
That's been happening.
Speaker 5 (18:15):
It's just scary that it's only going to get worse, though.
Speaker 3 (18:18):
That's why you need AI insurance. You know what I mean?
You need something that, God forbid... something happens.
Speaker 5 (18:25):
And it'll get smarter.
Speaker 3 (18:27):
Yep.
Speaker 6 (18:27):
Because it works off of human action and pattern. So
as LifeLock builds out patterns to protect, AI is watching
the patterns to build patterns.
Speaker 5 (18:36):
To fight it. That's crazy. It's like marketing.
Speaker 3 (18:39):
It's Terminator.
Speaker 5 (18:40):
Yeah.
Speaker 3 (18:41):
The good bots and the bad bots.
Speaker 2 (18:43):
You come from the creative branding side, right? Yeah. So
you're essentially marketing a product, LifeLock, that is requiring.
Speaker 4 (18:53):
reminding people that something terrible could happen.
Speaker 3 (18:56):
Right.
Speaker 2 (18:57):
So how do you sell protection without selling fear?
Speaker 3 (18:59):
Fear. That's a great, awesome question. Very, very, very smart question. Yeah,
fear-mongering is not what we want to do because consumers
shut down. Think about how negative our social feeds are.
Now the last thing we want to do as a
brand is be uber negative, right? We believe that everybody...
(19:20):
everyone in this room, everybody in my circle of life,
we're working really hard as Americans to build something. We're
trying to build something for our families. We're trying to
build my identity, my reputation. When you build something great,
somebody wants it. So our narrative is protect what you built.
(19:43):
Protect what you built because in fact, we talk about
it very simple, maybe in an old school way, like
your name is everything my dad used to say that
to me i know i'm sure a lot of people's
people still say that they still say that right your
name's everything that's literally what they want they want everything
that's associated with your name everything you you know your
(20:05):
name could have been like you you built your credit
your 401k your your your career, everything about you makes
you very valuable if you've built a good name. And
when it's worth something, that's when people want to steal it.
And that's the narrative we go to market with. You've
built something, protect it. Because when it's worth something, it's
(20:27):
worth stealing.
Speaker 2 (20:29):
All right.
Speaker 1 (20:30):
Well, Bill, we appreciate you for joining us. LifeLock, check
it out. I'm definitely going to check it out. And
I see you got a family plan where I could
get my wife and my kids involved.
Speaker 3 (20:40):
Yeah.
Speaker 1 (20:41):
Because I just want to make sure that their stuff
is secured.
Speaker 2 (20:43):
What are you about to say, Lauren?
Speaker 5 (20:44):
I was just thinking, like, Norton, you remember Norton? Well,
it's still around.
Speaker 3 (20:49):
Yeah, yeah, yeah. That's part of our portfolio. Yeah, Norton
is part of our company.
Speaker 5 (20:54):
Okay.
Speaker 6 (20:55):
I don't know if I knew that, but with older people,
like with my mom and my grandmom, I found out
about Norton because of my mom.
Speaker 2 (21:01):
Yeah.
Speaker 6 (21:02):
We did it just on her computer solely, but then
it got, now, you know, people are calling you and
they'll tell you they're from this bank or from this
place or whatever. And older people don't really, they don't,
the way that they think about things, they still think
people are very, like, nice and honest. So if you're calling, like,
they just give out their information. Norton has been, like,
the barrier with my mom a couple times. And I'm
(21:24):
just thinking about the fact that, like, you say you
guys have that $ 3 million in restoration.
Speaker 3 (21:28):
Yeah.
Speaker 6 (21:28):
We almost got into a situation, but Norton helped us.
But if we didn't have that restoration, we would have
been in such a bad position. And a lot of
times families might not have it, especially right now, to
cover these bills that you get because somebody has.
Speaker 5 (21:41):
To pay for the damage that's done.
Speaker 3 (21:42):
Right, until it's reconciled.
Speaker 5 (21:43):
Yes, or you're on the hook. They don't care that
your identity was stolen.
Speaker 3 (21:48):
That is such an awesome story, and it gives me
goosebumps that you have a real personal story about that.
That's why we connected Norton and LifeLock.
Speaker 5 (21:56):
I didn't even know y'all were connected. My mom still
swears by Norton.
Speaker 3 (21:58):
We connected it because we started realizing our Norton customers
also wanted identity protection with the $ 3 million. So that's
crazy that you didn't know we did that, but that's
what we do. They're sister brands. Yeah, love that. Well,
there you have it. Bill DeVaris. Did I say your
last name right? DeVaris, yeah, you nailed it. Okay, well,
thank you for joining us this morning. Of course, thank you.
Speaker 2 (22:18):
LifeLock, and it's The Breakfast Club.
Speaker 3 (22:20):
Good morning. Awesome.
Speaker 2 (22:21):
Hold up.
Speaker 3 (22:22):
Every day I wake up.
Speaker 2 (22:24):
Wake your ass up. The Breakfast Club. Y'all finished or
y'all done?
Hold up.
Speaker 2 (00:01):
Every day I wake up. Wake your ass up.
Speaker 3 (00:03):
The Breakfast Club.
Speaker 2 (00:05):
Y'all finished or y'all done?
Speaker 3 (00:08):
Morning, everybody.
Speaker 1 (00:09):
It's DJ Envy, Jess Hilarious, Charlamagne Tha Guy. We are
The Breakfast Club. Law and the Rose is here as well.
We got a special guest.
Speaker 2 (00:16):
In the building. Yes, indeed.
Speaker 1 (00:17):
We hear his commercials all the time, the live reads,
the sponsorships.
Speaker 3 (00:21):
We have from LifeLock, we have Bill DeVars. Welcome. Good morning.
Good morning. Thank you for having me.
Speaker 4 (00:26):
Bill, I've been waiting to talk to you or somebody
from LifeLock because I just keep saying to myself, if
this is really happening so much and people's identities are
getting stolen so much, we need more than commercials.
Speaker 2 (00:36):
We need to.
Speaker 4 (00:36):
Hear firsthand experiences, why y'all decided to build this, how
regular is it?
Speaker 2 (00:42):
I got a long list of questions.
Speaker 3 (00:44):
I can't wait. Hit me.
Speaker 2 (00:46):
Now, how did it start?
Speaker 4 (00:46):
Because I spoke to you at the iHeartRadio Music Festival
and you told me that it started with a personal experience.
Speaker 3 (00:52):
Well, For me, I have a personal experience, but I
think the way the company started was that the world
started going digital. And bad actors, bad people started realizing
that because we spent so much time online, on sites, clicking,
clicking away at everything, huge opportunity for the dark web
(01:15):
world to take advantage of citizens.
Speaker 4 (01:18):
I thought about the fact that AI can clone your voice, right?
It can recreate your face. It can imitate the way
you communicate. And a lot of times we go on
these sites, we never read the terms and conditions. So
we don't know what we're giving up, right? So what
does identity theft even mean anymore? We might've gave these
people permission to use us.
Speaker 3 (01:37):
You know what? I think you nailed it because the
fact is that right now, like your social security number
is worth about $ 10 in the dark web.
Speaker 2 (01:45):
Damn. Yep.
Speaker 3 (01:47):
And the odds are all of our identities out there
And there's a whole marketplace where people are just selling.
Speaker 5 (01:54):
VPN.
Speaker 3 (01:55):
We're just part of a batch of names and social
security numbers and identifying verified IDs. People are picking them up.
And what they're doing is they're essentially tracking you, right?
So it's almost like surveillance, right? They're online tracking you.
And now with AI, it's no longer like a warehouse
(02:17):
in Slovakia with, you know, humans banging away at keyboards,
like one person can actually deploy a thousand agentic agents
that are bots that are building deceptive sites.
Speaker 6 (02:31):
Wow.
Speaker 3 (02:31):
And the sites are so good. The imagery is so good.
The mimicking, the deep fake is so good. You guys
see what AI is like, right? You can't even distinguish
between a celebrity and a, you know, the fake one
or the real one that now they're just deploying, you know,
millions of sites.
Speaker 2 (02:48):
I've seen a video of Envy.
Speaker 4 (02:49):
He had Envy kissing another guy that's like his mentor,
DJ Clue.
Speaker 3 (02:54):
That was a yeah. How'd you feel about that? That
was a yeah.
Speaker 2 (02:58):
It looked very real. I mean, extremely real.
Speaker 3 (03:01):
Unbelievable. He's lying.
Speaker 1 (03:02):
But question, so how does LifeLock protect somebody?
Speaker 3 (03:06):
How does the procedure work? Look, there's three. There's a
million ways we protect you, but the three ways you
should really care about is LifeLock has... guaranteed restoration. So
what does that mean? If something happens to you, you
have to go, you, you now have to restore your credit,
(03:26):
your identity. You got to clean up your name from
all these data broker sites, that whole cleanup. And if
you've been financially compromised, we will restore those funds. A
hundred percent guaranteed up to $ 3 million of coverage.
Speaker 6 (03:41):
Really?
Speaker 3 (03:41):
So that, yep. So you're covered up to 3 million.
That's something a bank can, A lot of people think
their bank takes care of that, right? Nope. The other
thing we do is the tech proactively alerts you. So
if somebody is opening up loans, let's say suddenly this
AI bot is opening up 35, 50 loans, mortgage loans,
(04:05):
home equity loans under your name, you're going to get
a notification that says, is this you? Did you just
open up five loans? And when you say no, It
triggers a workflow on the LifeLock side where the actual
restoration expert will call you and be like, hey, we've
picked up this suspicious activity. Thank you for saying no.
(04:25):
So there's proactive technology. And then there's, God forbid, something happens,
almost like an insurance policy.
Speaker 5 (04:33):
In your personal experience, you got an alert through.
Speaker 3 (04:38):
Oh, I got more than alert.
Speaker 5 (04:39):
Well, you got to build, too.
Speaker 6 (04:41):
But there was some technology that kind of let you
know that there was some things happening after.
Speaker 5 (04:46):
Well, maybe you talk about what happened.
Speaker 2 (04:47):
Yeah, yeah, yeah.
Speaker 3 (04:48):
I mean, I got to really, it's just so coincidental
because when I started working on the brand, of course,
I was like, I understand what identity theft is. I
get it. We live in a modern world. Boom, I get,
something happens to me, right? I get this IRS notice. Meanwhile,
LifeLock was alerting me before and I didn't really, you know,
(05:11):
pay attention to it. And I owe a lot. I
don't even want to say how much money I owe,
but I owe like an extraordinary amount of money. And
I'm like, for what? And it's this business that I
don't own, right? An affiliate marketing business. So I call my...
Right away, I call my accountant and I said, what
(05:33):
do I do? He goes, how did you... Do you have,
he goes, did you get any other notices or anything?
I go, wait, let me check my life lock. I'm like,
oh my God. And he goes, call life lock now.
So I call life lock, restoration expert immediately gets on
my case. She starts locking everything down, locking the credit,
(05:55):
telling me exactly how I have to, notifying the IRS.
I'm starting to build my case because you got to
build a case with your IRS. You got to let
the IRS know. you know, that this has happened. And
so like this, the, the, we have us based restoration experts.
It's not like you're calling another country. It's somebody whose
(06:17):
entire job is to restore Americans lives back to normal.
So she, she put, she just puts this protocol to action. And,
and I gotta be honest with you, like in like
two weeks, I was all clear. I even got issued
a new, some new verification codes from the IRS. So
when I do my taxes, I do them differently. But
(06:39):
somebody opened up an affiliates marketing business using my social
security number and ID. And I guess it's like a
money laundering thing that people do. It's very common. You
can look it up. FBI knows all about it.
Speaker 5 (06:52):
People don't know how common that type of stuff is.
Speaker 6 (06:54):
Like they do like apartments and bank accounts or whatever,
but like, whole businesses and lifestyles uh we use it
under people's identities is very common yeah.
Speaker 3 (07:04):
People buy homes they uh buy cars they credit cards
yeah credit cards the the business thing is interesting because
it's literally uh it's a money laundering thing like you
want to move cash you want to run it through
legit companies but you yourself can't you don't want to
be right you're a bad guy you don't want to
be connected to that company well you're going to use
(07:24):
people with good credit people's IDs with good credit and
start opening up companies.
Speaker 4 (07:30):
If my information is already on the dark web, am
I trying to get it back or I'm just trying
to make the information useless to whoever steals it?
Speaker 3 (07:41):
Great, great question. What LifeLock will do is try and
clean up who's got it because the odds are it's
data brokers who are, you know, let's say you, I
don't know, maybe years ago you signed up or something,
a subscription or something, right? They might be selling companies
and websites and blogs and all kinds of stuff might
(08:01):
be selling your info. Jesus Christ. And these data brokers
pick it up and then they, it's like a marketplace.
They're like, hey, who wants Charlemagne's information, right? Like you
fall into a certain profile and there's like transactions being made.
People are actually selling, you know, Americans' IDs, right?
Speaker 1 (08:22):
And how much does it cost.
Speaker 3 (08:24):
To protect yourself? $ 10 a month. $ 10 a month.
Speaker 2 (08:27):
Right.
Speaker 3 (08:29):
For $ 3 million in coverage.
Speaker 1 (08:30):
It's not levels.
Speaker 3 (08:32):
It's not tiers. There's tiers. Okay. But for a decent,
for what you want, it's $ 10 a month.
Speaker 1 (08:38):
What's the higher tier from that?
Speaker 3 (08:40):
What else is a cover? Because you said there's tiers.
So there's tiers that are higher. I mean, it all
depends on the promo codes, right, of the day. But
like the tiers that are higher could also include your family.
So you could actually start to add your parents, for instance,
or look, kids are important because I have a daughter
(09:04):
in college. Hey, Gigi. I do a little shout out
to her. You know, she might have a clean credit, right?
Because her credit is super clean. That is so valuable
to people.
Speaker 2 (09:18):
Right?
Speaker 3 (09:18):
So people don't realize that. They're like, oh, it must be,
you know, you must be making a lot of money
and you're a high value target. That's not the case.
All of us who are working on our credit or
we have clean credit, we're all vulnerable, right? Everybody. Everybody is.
One out of four Americans is a victim of identity theft.
It's inevitable.
Speaker 4 (09:38):
Yeah, I mean, like I said earlier, man, we get
on these social media sites and we've been on some
of these sites for literally a couple of decades now.
We don't know what the terms and conditions are when
we sign up to these sites. So what information are
we casually putting on social media that scammers can now
use against.
Speaker 2 (09:55):
Us with AI.
Speaker 3 (09:56):
So they'll build a dossier so that the power of
AI is that it could build a dossier around you.
It could follow you on social, pick up photos, pick
up what you like, sites you visit, right? It's not
saying that you landed on a great, you know, you know,
(10:20):
reputable site and like that reputable company is selling your
ID I'm not saying that like what I'm saying is
it's so easy to deceive people that you might you
might think you're on ford.com but it's not ford.com that's
what's going on right now and like you might be
(10:40):
reading an article and there's a hyperlink and you're like
oh I want to see the video that they're talking
about right you know how people they tease you out
on the video yeah That link, you don't know where
that link's going. Yeah, my wife got that one time.
Speaker 1 (10:53):
She was booking a flight for something.
Speaker 3 (10:54):
I don't know what it was.
Speaker 1 (10:55):
She had to book a flight. And I don't know
why Mercedes didn't book it, but my wife had to
book a flight. And when she Googled, let's say it
was Delta, Delta didn't pop up. It was the first
thing that popped that looked like Delta, but it wasn't
actually Delta. And when she clicked it, she put her
information in and she realized it was. Thank God it
was through American Express and we were able to cancel it.
But her information is out there now. Her address, her
phone number and all that. So it's, I don't know
(11:17):
how companies can do that, but.
Speaker 3 (11:19):
That happened to her.
Speaker 2 (11:20):
It feels like LifeLock is like insurance now. Like you
have to have it just in case.
Speaker 3 (11:26):
Yeah, I mean, you need insurance. God forbid someone... I mean,
I was just commuting in today. I saw a car accident.
I'm like, all right, that's why you have insurance in
New York, right? With the way things are going, with
the way things are going with AI and everything else
that's going on, why do we not have this insurance?
It's $ 10 a month. Think about the other stuff. You
probably watch more than... that annual fee in Netflix movies, right?
(11:52):
But you got $ 3 million in coverage for you and
your family.
Speaker 6 (11:55):
Who insures, like, LifeLock? Because, like, with the bank, if
my money messes up in my account, it's FDIC. With
you guys, where does that $ 3 million come from? Like,
where are y'all grabbing from?
Speaker 3 (12:06):
So... I'm not the head of finance, so I can't
tell you. And I'm probably not allowed to tell you
exactly who is building our risk profile of our insurance company.
But it's insured by, I'm sure, insurance companies and other
partners and enterprises that specialize in insuring large, huge companies
(12:29):
like LifeLock. But you should know that it's a restoration
guarantee and that $ 3 million is real.
Speaker 4 (12:38):
You know, people hear identity theft protection. And I'm sure
they're probably thinking, what can LifeLock actually stop in regards
to that? And what can't it stop?
Speaker 6 (12:49):
Right.
Speaker 3 (12:51):
So what it could do is it could jump in
with the right timing to probably shut down something because
of the alerts. You could toggle and lock all your
credit with one touch. It gives you power to do that.
Like literally on my LifeLock app right now, I could
just shut down all my credit, which shuts down a
(13:14):
lot of things. So proactively, it's got perfect timing to
maybe stop major damage. And then what it actually can
do is bring you back. How do I say this?
It's almost like something traumatic happens in your life and
(13:34):
Whenever something traumatic happens in our lives, we lead busy lives.
We got to put our life on pause to go
clean up what? Our identity? Who's got the time to
do that? Who's got the time to go talk to
the banks, the credit cards, the IRS, all these people
that you now got to go talk to? We do it.
So we do all of that for you. As far
(13:57):
as like being the ultimate preventer where we're going to
lock down the dark web, LifeLock can't lock down the
dark web.
Speaker 2 (14:05):
Lord have mercy.
Speaker 3 (14:06):
You know what I mean? Like the way things are
going with AI, who's going to, I mean, the US
government can't lock down. The FBI just created a whole
new branch called AI fraud. They had to create it
last year because AI fraud is so, so big.
Speaker 4 (14:21):
Are criminals using AI faster than companies like LifeLock can
build the technology to stop it?
Speaker 3 (14:30):
Um, In my personal opinion, I do think that what's
happening in the bad actor world is surpassing what the
commercial world can keep up with. And I bet you
if there was a government official here, they would say
the same thing because they're keeping an eye on it.
And it's international. Let's be honest about that. It's not
(14:53):
really just a domestic thing. It's like international bad actors.
There's all kinds of stuff going on. We are the
number one consumer in the world.
Speaker 2 (15:03):
Absolutely.
Speaker 3 (15:03):
So we're like target number one.
Speaker 2 (15:06):
That's how I feel when I talk to these AI guys, right?
Speaker 4 (15:10):
Because it feels like the technology for AI is advancing,
but also, no, they're trying to increase the intelligence and
the safeguards at the same time.
Speaker 2 (15:23):
I don't know if that's possible.
Speaker 4 (15:24):
I don't know if the safeguards can win that race
against the intelligence of the AI.
Speaker 6 (15:28):
I don't know.
Speaker 3 (15:30):
I mean, I think the great X factor is money.
Because you're like, what are we going to do? We're
competing in a global market with China, Europe. We got
to stay on top. It's America, right? We got to
be the cutting edge. It's a tricky one.
Speaker 4 (15:53):
I asked that question to somebody verbatim. I said, so
are you choosing safety over growth? Because, you know, to
your point, the growth is the money, right?
Speaker 2 (16:02):
You know what I mean?
Speaker 4 (16:03):
So at some point, one of these AI guys has
to say, all right, it's just all about safety.
Speaker 2 (16:07):
Forget the growth of the company. And I don't think
that's going to happen.
Speaker 3 (16:11):
Well, I do think that there's going to be safety
AI companies that are going to be a big part
of our lives. And the way we use technology, LifeLock
certainly is going to be one of them. Meaning, remember Terminator?
Speaker 2 (16:29):
Yeah, yeah.
Speaker 3 (16:30):
Remember at some point, like I forgot what it was.
It was like either Terminator 2 or 3 where Arnold
switched over to being like the good guy. I think
that's what's happening is that the only way to fight
bad AI is with good AI. I mean, think about it.
Speaker 2 (16:46):
Yeah, no, you're right.
Speaker 4 (16:47):
So if every time security gets smarter, right? Criminals get
smarter too. When do we the consumers ever actually get
ahead in this situation?
Speaker 2 (16:56):
Yeah.
Speaker 3 (16:57):
I mean, we... Look, we're going to be the moneymakers, right?
We're going to be feeding these companies and technologies and
all that. I think we just got to wake up sooner, soon, now,
and embrace the reality that even ChatGBT could be serving
you a bad link.
Speaker 2 (17:19):
Yeah, yeah, yeah. Oh, my God.
Speaker 3 (17:22):
Think about that, right? Because what is it doing? It's
scraping the whole web.
Speaker 2 (17:26):
Oh, yeah.
Speaker 3 (17:27):
AI can trick AI. AI can trick AI.
Speaker 6 (17:30):
It's like how Google AI is like, if you, what
I've learned, you just depend on Google AI. It might
not be the best source because it compiles from what
it scans across the web.
Speaker 5 (17:38):
Like you just don't know where some things are coming from.
Speaker 6 (17:39):
Right.
Speaker 2 (17:40):
AI can trick AI.
Speaker 3 (17:41):
Of course. Because, you know, especially when companies are going
really fast, think about it. Think about how fast, like every,
every hour, every day they're developing, things are changing every day.
Look like, um, They're trying, they're scraping, the LLMs are
scraping YouTube, Reddit, comments section, social, whatever. Who knows where
(18:04):
somewhere there's a crack and a bad actor could be
putting fake comments up or reviews or a deceptive site.
Speaker 5 (18:13):
That's scary.
Speaker 2 (18:14):
That's been happening.
Speaker 5 (18:15):
It's just scary that it's only going to get worse, though.
Speaker 3 (18:18):
That's why you need AI insurance. You know what I mean?
You need something that, God forbid... something happens.
Speaker 5 (18:25):
And it'll get smarter.
Speaker 3 (18:27):
Yep.
Speaker 6 (18:27):
Because it works off of human action and pattern. So
as LifeLock builds out patterns to protect, AI is watching
the patterns to build patterns.
Speaker 5 (18:36):
To fight it. That's crazy. It's like marketing.
Speaker 3 (18:39):
It's Terminator.
Speaker 5 (18:40):
Yeah.
Speaker 3 (18:41):
The good bots and the bad bots.
Speaker 2 (18:43):
You come from the creative branding side, right? Yeah. So
you're essentially marketing a product, LifeLock, that is requiring.
Speaker 4 (18:53):
reminding people that something terrible could happen.
Speaker 3 (18:56):
Right.
Speaker 2 (18:57):
So how do you sell protection without selling fear?
Speaker 3 (18:59):
Fear. That's a great, awesome question. Very, very, very smart question. Yeah,
fear-mongering is not what we want to do because consumers
shut down. Think about how negative our social feeds are.
Now the last thing we want to do as a
brand is be uber negative, right? We believe that everybody...
(19:20):
everyone in this room, everybody in my circle of life,
we're working really hard as Americans to build something. We're
trying to build something for our families. We're trying to
build my identity, my reputation. When you build something great,
somebody wants it. So our narrative is protect what you built.
(19:43):
Protect what you built because in fact, we talk about
it very simple, maybe in an old school way, like
your name is everything my dad used to say that
to me i know i'm sure a lot of people's
people still say that they still say that right your
name's everything that's literally what they want they want everything
that's associated with your name everything you you know your
(20:05):
name could have been like you you built your credit
your 401k your your your career, everything about you makes
you very valuable if you've built a good name. And
when it's worth something, that's when people want to steal it.
And that's the narrative we go to market with. You've
built something, protect it. Because when it's worth something, it's
(20:27):
worth stealing.
Speaker 2 (20:29):
All right.
Speaker 1 (20:30):
Well, Bill, we appreciate you for joining us. LifeLock, check
it out. I'm definitely going to check it out. And
I see you got a family plan where I could
get my wife and my kids involved.
Speaker 3 (20:40):
Yeah.
Speaker 1 (20:41):
Because I just want to make sure that their stuff
is secured.
Speaker 2 (20:43):
What are you about to say, Lauren?
Speaker 5 (20:44):
I was just thinking, like, Norton, you remember Norton? Well,
it's still around.
Speaker 3 (20:49):
Yeah, yeah, yeah. That's part of our portfolio. Yeah, Norton
is part of our company.
Speaker 5 (20:54):
Okay.
Speaker 6 (20:55):
I don't know if I knew that, but with older people,
like with my mom and my grandmom, I found out
about Norton because of my mom.
Speaker 2 (21:01):
Yeah.
Speaker 6 (21:02):
We did it just on her computer solely, but then
it got, now, you know, people are calling you and
they'll tell you they're from this bank or from this
place or whatever. And older people don't really, they don't,
the way that they think about things, they still think
people are very, like, nice and honest. So if you're calling, like,
they just give out their information. Norton has been, like,
the barrier with my mom a couple times. And I'm
(21:24):
just thinking about the fact that, like, you say you
guys have that $ 3 million in restoration.
Speaker 3 (21:28):
Yeah.
Speaker 6 (21:28):
We almost got into a situation, but Norton helped us.
But if we didn't have that restoration, we would have
been in such a bad position. And a lot of
times families might not have it, especially right now, to
cover these bills that you get because somebody has.
Speaker 5 (21:41):
To pay for the damage that's done.
Speaker 3 (21:42):
Right, until it's reconciled.
Speaker 5 (21:43):
Yes, or you're on the hook. They don't care that
your identity was stolen.
Speaker 3 (21:48):
That is such an awesome story, and it gives me
goosebumps that you have a real personal story about that.
That's why we connected Norton and LifeLock.
Speaker 5 (21:56):
I didn't even know y'all were connected. My mom still
swears by Norton.
Speaker 3 (21:58):
We connected it because we started realizing our Norton customers
also wanted identity protection with the $ 3 million. So that's
crazy that you didn't know we did that, but that's
what we do. They're sister brands. Yeah, love that. Well,
there you have it. Bill DeVaris. Did I say your
last name right? DeVaris, yeah, you nailed it. Okay, well,
thank you for joining us this morning. Of course, thank you.
Speaker 2 (22:18):
LifeLock, and it's The Breakfast Club.
Speaker 3 (22:20):
Good morning. Awesome.
Speaker 2 (22:21):
Hold up.
Speaker 3 (22:22):
Every day I wake up.
Speaker 2 (22:24):
Wake your ass up. The Breakfast Club. Y'all finished or
y'all done?
The Breakfast Club News
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DJ Envy
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