§ 14 · SECTOR DEEP DIVE · 5 PLATFORMS
Cybersecurity & Identity
Where switching means re-exposing your attack surface. Security lock-in compounds with time.
5
Platforms
4.89
Mean B
4.86
Median B
5/5
Above B = 1
Key Structural Finding
Cybersecurity platforms achieve lock-in through a mechanism unique among all sectors: the cost of switching is measured not in lost productivity but in increased vulnerability. Palo Alto Networks (B=6.29) platformisation strategy — NGFW + SASE + XDR under one agent — creates switching costs that compound with each module added. CrowdStrike’s 97% retention proves that endpoint security, once installed, becomes permanent infrastructure. Identity brokers like Okta sit at the SSO chokepoint: removing them means re-authenticating every connected application.
Sector Rankings — Palo (6.29) to Fortinet (3.64)
| # | Platform | Ticker | Mkt Cap | Capture | Escape | B | Zone |
|---|---|---|---|---|---|---|---|
| 01 | Palo Alto Networks | PANW | $140B | 1.83 | 0.29 | 6.29 | BLACK HOLE |
| 02 | CrowdStrike | CRWD | $130B | 1.81 | 0.36 | 5.00 | BLACK HOLE |
| 03 | Okta | OKTA | $13B | 1.85 | 0.38 | 4.86 | BLACK HOLE |
| 04 | Zscaler | ZS | $30B | 1.70 | 0.37 | 4.65 | BLACK HOLE |
| 05 | Fortinet | FTNT | $60B | 1.34 | 0.37 | 3.64 | BLACK HOLE |
B-Index Distribution
Mean Parameter Profile
Capture Escape Extended