The document discusses the evolution of modern network security threats and malicious code. Historically, networks were closed and protected physically, but with the rise of personal computers, LANs and the internet, networks became more open and vulnerable to four primary classes of threats: unstructured threats, structured threats, external threats and internal threats. The document then focuses on different types of malicious code like viruses, worms and trojans that can infiltrate computers without user consent. It provides examples of damaging viruses and fast-spreading worms like the SQL Slammer worm.