![](https://www.nanalyze.com/app/uploads/2024/05/Okta-Stock-1024x683.jpg)
Cybersecurity only becomes more challenging with generative AI knocking on our doorsteps. The idea that nobody can be trusted within an organization – zero trust – assumes that bad actors will make their way inside. That’s an intuitively advanced approach to cybersecurity that we find compelling. So is the idea that passwords should go the way of the dodo. Why should everyone need an app just to store the 100s of passwords they’re expected to remember?
Uppercase, lowercase, special characters, too few characters, we’re all expected to assemble cryptic character keys and then not write them down because that’s bad. It stands to reason that the company which gets rid of passwords should make a mint. That’s a key part of why we invested in Okta (OKTA), but they’re not the only player in the “access management” space.
![](https://www.nanalyze.com/app/uploads/2024/05/Okta-Identity.jpg)
The Competition
The above diagram shows a handful of leaders in access management with Okta listed as having the highest “ability to execute.” Both Microsoft and Ping Identity are listed as having the highest “completeness of vision,” and the latter has now grown meaningfully following the acquisition of ForgeRock. Then there’s IBM which can only hope to finally amount to something in life. Anything. If we’re honest with ourselves, nobody ever feels threatened by IBM.
If we were to ask Okta, they’d probably say one competitor keeps them up at night. Their last earnings deck contained an entire slide dedicated to why