Motley Fool Money: Interview with Zscaler Founder and CEO Jay Chaudhry

Date: January 4, 2026
Host: Tom Gardner (Motley Fool CEO) with Motley Fool team
Guest: Jay Chaudhry (Founder & CEO, Zscaler)

Episode Overview

This episode features an in-depth discussion with Jay Chaudhry, the founder and CEO of Zscaler, a leading cloud security company. Tom Gardner, joined by Motley Fool's top analysts, explores Chaudhry’s entrepreneurial journey, the evolution of cybersecurity, the rise of AI-driven threats, and the company’s long-term vision. The conversation dives into Zscaler’s business model, zero trust architecture, and actionable security advice for individuals and investors.

Key Discussion Points & Insights

1. Jay Chaudhry’s Path to Entrepreneurship and Zscaler’s Origins

• Accidental Entrepreneur: Jay shares how he never planned to start a company; inspiration struck after learning about Netscape and realizing the coming need for cybersecurity as the Internet grew ([02:28]).
  • "If this young guy could do a startup, why shouldn't I do a startup?" – Jay Chaudhry ([02:28])
• Early Ventures: Describes launching Secure IT (self-funded with his wife), CypherTrust, AirDefense, and others — all acquired by larger firms.
• Zscaler’s Founding Vision:
  • Recognized the limitations of the "castle and moat" (firewall) security model as SaaS, mobile, and cloud became dominant ([04:26]).
  • Sought to "flip security on its head" by developing a policy engine that distrusts every connection, using a "switchboard" approach — the early idea of zero trust ([04:26], [09:13]).

2. The Move from Firewalls to Zero Trust Security

• Traditional Model Explained: Firewalls create barriers but once breached, an intruder has broad access ([09:13]).
• Zero Trust as a Step Change:
  • Each connection is independently validated; users and devices are never implicitly trusted ([09:13]).
  • Unlike legacy models, Zscaler’s platform acts as a cloud-based switchboard for secure, direct, and limited access.
  • "It's really connecting the right party to right party. Such a simple, elegant architecture…" – Jay Chaudhry ([12:09])
• Simplicity and Cloud Delivery: Inspired by the move from DVD players to Netflix — security should be as seamless as streaming ([13:20]).

3. AI’s Double-Edged Sword in Cybersecurity

• AI as Threat and Opportunity:
  • AI accelerates both innovation for defenders and capabilities of attackers ([13:52]).
  • "AI is wonderful. AI is powerful. AI is dangerous. It's almost like any new technology. A knife in the kitchen is a wonderful tool unless it's abused." – Jay Chaudhry ([13:52])
• How Attackers Use AI:
  • Rapid identification of vulnerabilities (e.g. using ChatGPT to find exposed firewalls) ([13:52]).
  • Generation of sophisticated phishing emails that mimic senior executives.
  • Automation of attacks once an intruder is in the network.
• AI-Driven Defense:
  • Zscaler’s zero trust architecture limits the exposure from compromised users or AI agents.
  • "The zero trust architecture we pioneered at Zscaler actually plays an important role... everything is an island, everything is untrusted." – Jay Chaudhry ([15:40])
  • Agents/automation are only ever trusted with tightly defined and temporary access.

4. AI & Employment Philosophies

• Implications for Jobs:
  • AI will replace certain functions, but, as with previous technological leaps, will ultimately create more opportunities ([17:39]).
  • "My advice to people will be: embrace AI, learn skillset because it's going to create a whole range of new jobs." – Jay Chaudhry ([17:39])
  • AI is probabilistic (not always reliable/deterministic), so human validation and oversight remain critical.

5. Security Advice for Individuals

• Top Risks at Home:
  • Phishing is the primary threat, as attackers seek credentials to steal funds ([20:24]).
  • Software protection against phishing is advised; common sense and skepticism are valuable.
  • "Number one risk a consumer at home has is phishing... good to have some level of software protection for phishing..." – Jay Chaudhry ([20:24])
  • Enterprise threats are more sophisticated but less common for individuals.

6. Long-Term Vision, Company Mission, and Investment

• Market Opportunity & Execution:
  • Cybersecurity is “a painkiller, not a vitamin” — essential and increasingly critical ([22:48]).
  • Zscaler’s addressable market is growing rapidly with cloud, IoT, and new workloads.
• Competitive Advantage:
  • Platform benefits from network effect: global scale, thousands of enterprises, high net promoter scores ([22:48]).
  • Repeat customers among CXOs — many have deployed Zscaler multiple times at different companies.
  • "About nine months ago... I met this CISO and he told me he's bought Zscaler the third time at his third company... 285 of the CXOs had bought Zscaler two times... 84 had bought it three times, 45 had bought it four times..." ([24:46])
• Enduring Mission:
  • Jay sees Zscaler as a lifelong mission, not just a business; no plans to retire soon.
  • "Man, I'm having so much fun. We are in the early stage. We have a lot to achieve..." – Jay Chaudhry ([26:44])
• Investment Perspective:
  • Long-term commitment is emphasized by both The Motley Fool and Chaudhry.
  • Zscaler has delivered 30% annual returns since IPO, with the interviewer forecasting 15%+ annual compounding in future ([21:34]).

Notable Quotes & Memorable Moments

• On Risk and Learning:
  • "My wife quit her job. So there's no turning back. Burn the bridges behind was the notion." – Jay Chaudhry ([04:26])
• On Innovation:
  • "Technology incrementally changes all the time, but every decade or every two decades there's a step function change. That's what drives innovation." – Jay Chaudhry ([10:57])
• On Customer Loyalty:
  • "Our NPS net promoter score has been sitting between 75 and 85 most of the time. That's remarkable... typical SaaS company... 30, 35 range." – Jay Chaudhry ([23:41])
• On Personal Motivation:
  • "To me personally, Zscaler is not just a business, it's a mission." – Jay Chaudhry ([26:38])
• On Security for Consumers:
  • "Being a little bit savvy to look for some of the things that look silly out there and not fall for them, just using a little common sense goes a long way." – Jay Chaudhry ([20:56])

Timestamps for Key Segments

• [02:28] Jay's inspirational moment and path to entrepreneurship
• [04:26] Past startups and the origin of Zscaler's disruptive vision
• [09:13] Shift from firewall security to zero trust explained
• [13:52] AI's role in cyber threats and Zscaler’s AI-driven defense
• [17:39] Jay's perspective on AI and future of employment
• [20:24] Home security tips for the average consumer
• [22:48] Zscaler’s market opportunity, customer loyalty, and company mission
• [26:38] Jay on seeing Zscaler as a lifelong mission

Conclusion

Jay Chaudhry’s journey from a Himalayan village to the helm of a multi-billion-dollar cybersecurity firm is both inspiring and instructive. Zscaler's zero trust approach responds to modern threats — especially those magnified by AI — and Chaudhry’s optimism for technology's impact on jobs and society is clear. Both investors and individuals benefit from his practical advice: embrace change, focus on the long term, and never underestimate the importance of strong security fundamentals.