Virtual Skinny: Wednesday Wisdom

Posted by The Virtual Skinny on September 7, 2016 in Internet & Tech, Newsletter 0 Comment

9.7.2016

Good to Know: Here’s your Wednesday Wisdom. Working on a startup? Look for venture capital money? At the very least, avoid these 11 things to up your chances of success.

THE SKINNY

When Christmas Comes Early …

Today is Apple Inc’s annual product launch event in San Francisco.

When You Know What to Expect …

Ever since Apple sent out its “See You on the Seventh” invites, the blogosphere’s been abuzz about what’s likely to go down today. One word: iPhone 7. The latest iPhone is said to have minor changes from the ‘6’ version with things like a touch sensitive home button. The major change: No headphone jack. Apple has gone wireless so you can listen to your jam or watch your fave show without wires getting in the way.

When You Don’t Know It All …

Unclear how much the ‘7’ will go for in terms of price. Other than the phone, there’s rumbles about a new Apple Watch version but not much has been leaked about it. Gotta keep some things close to the vest …

When Patience Is Still A Virtue …

With no major changes to the ‘7,’ analysts are feeling underwhelmed. They suggest that you wait it out till next year for the ‘8.’ Next year’s the 10th anniversary of the iPhone so they’re predicting major changes like ‘a wider display that reaches from one edge of the device to the other.’ In the meantime, the new iOS 10 software update is bringing us less text and more visuals in iMessage (i.e., stickers, funny faces, animated balloons, etc).

WHAT ELSE IS GOING ON?

Summer’s Over …

Time to get serious. Twitter’s board of directors is huddling up this Thursday. On the agenda? To sell or not to sell. Twitter’s been struggling to perform well. In other words, it’s trying to grow its user-base and bring in more dolla bills. Co-founder and board member Evan Williams said the company needs to “consider the right options.” Looks like the options are selling to whoever can afford an US $18 billion company (Google, Apple, 21st Century Fox or News Corp. could be potential buyers). Option B? Another round of staff layoffs. The struggle is real …

This Was Not Part of the Plan …

Last week, Mark Zuckerberg surprised everyone when he headed to the continent. And by the continent, we mean Africa. The Zuck’s first stop? Lagos, Nigeria where it was biz mixed with a bit of fun: He visited a kids coding camp called the CcHub, had a Q&A with local entrepreneurs, sat down to dinner with Nigeria’s President Muhammadu Buhari, and even crashed a Nigerian hip hop video set. Zuckerberg said ‘Nigeria’s tech story is “under-appreciated across the world.” But, some local techies aren’t buying it. They are unimpressed by Zuck’s visit and want FB to build a true partnership with Africa’s tech community.

Please Tell Me More…

Looks like Zuck’s got big plans for Africa, but he learned during his trip that he had a f*@# problem. Back stateside in Florida, a SpaceX rocket ship exploded and took down one of FB’s satellites used to beam high-speed Internet to Africa. Yikes!

It’s Not Translating …

According to reports, “democracy,” “human rights,” and “hunger strike,” are not in the Cuban government’s vocabulary. The government’s been blocking people’s text messages containing those words. Unclear how long this alleged filtering has been going on …

THE STREETS ARE TALKIN’

Snapchat’s ditching its ‘local stories,’ the features that let’s you see what’s happening in big cities. It’s cut the ‘small team’ responsible and is now eyeing live events as a replacement.

You’ll soon be able to search the Google machine by outfits. The upcoming feature, “Shop the Look,” will pull up outfits published by fashion bloggers in search.

Pandora plans to launch two new music services (US $10 Spotify type service so you and your tunes will always be together whenever and wherever & US $5 that’s a slight upgrade from its free web radio). Still waiting on when the official public announcement will go down since Pandora’s still trying to finalize things with music label partners.

Box (the business version of DropBox) just worked on a collabo project with IBM called Box Relay to custom build work processes.

WOD (WORD OF THE DAY)

Demonetization: Think YouTube. The process of not allowing certain YouTube videos to make money off of ads because of its ‘unfriendly’ content. The company’s been in the demonetization game since 2012, but YouTube video makers didn’t know about it until last week. Turns out YouTube’s software isn’t perfect, and some legit and friendly videos got caught up in the mix. Unfortunately, some YouTube video makers haven’t been making their ‘pay-pah.’

8.3.2016 – Virtual Skinny FinTech: Move It or Lose It

Posted by The Virtual Skinny on August 3, 2016 in FinTech Edition, Newsletter 0 Comment

8.3.2016

Good to Know: We want to get your thoughts. Take our poll below!

THE SKINNY

When You Can’t Beat ‘Em …

Join ‘em. Wells Fargo, JP Morgan, Bank of America, and US Bank are all jumping on the instant cash bandwagon.

When You Don’t Really Have A Choice …

Their hands have been forced. In the U.S., moving money between bank accounts is slow AF. Mobile services like PayPal’s Venmo and Square Cash handled the issue…Customers love it … Now U.S. banks don’t want to get left behind.

When Your Age is Showing …

Banks have tried to pull an Instagram by offering their very own money transfer apps. Think Chase QuickPay. But, it isn’t quite the same ‘copy and paste’ job Instagram just pulled on Snapchat (read more on that later this week in our Internet & Tech edition). They want customers to believe that their apps are just as ‘hip and cool’ as the Venmos of the world with the help of star-power ads. But, some people aren’t buying it.

When You’re Not Leading From Behind…

The U.S. is playing ‘follow the leader’ with the rest of the world when it comes to faster payments. Note to self: The U.S. is doing the following. So, the Federal Reserve Board’s ‘Faster Payments Committee’ is telling banks to ‘pick up the pace’ on money transfers.

When You Need to Make A Move …

Meanwhile everyone and their moms in the financial ecosystem (including financial OGs like Mastercard and Visa) are in an arms race to build the “payments network of the future.” Mastercard snatched up a huge chunk of Vocalink, a UK biz with a mobile and internet payment network, and Visa’s strategically linked up with Paypal.

When You’re Just Happy to be Here …

Since people are still using the cash money and writing checks, there’s lots of opportunity to get in on the instant payments action. It won’t be easy for banks to catch up with Venmo and other peer-to-peer apps that are hybrid payment and social platforms. But, at least U.S. banks are making moves.

PENNY FOR YOUR THOUGHTS?

Now that banks are stepping up their instant payments game, are you willing to give up your current money transfer app (i.e., Venmo, Square Cash, etc) and give your bank’s app a go?

WHAT ELSE IS GOING ON?

Ain’t Nobody Got Time for That …

The U.S. is still trying to get consumers to dip their credit cards rather than swipe them. Turns out chip and pin cards aka EMV cards aka cards that keep us waiting at checkout for life are way more secure and help cut back on fraud. That’s great and all, but we hear that making just two purchases daily for a year with an EMV card adds up. It’s literally 85 minutes of our lives that we’ll never get back just waiting to check out. No bueno! Even retailers want to avoid installing EMV card readers because long lines aren’t good for biz. Only 28% of all U.S. merchants require dips v. swipes. Shopping at places that take Apple, Android, or Samsung Pay may be a better, faster option. Meanwhile, some of us will continue to struggle with the process.

And The Winner Is…

We hope China’s been practicing it’s surprise face and pageant wave. The U.S. Department of Commerce just crowned Asia’s largest economy as the 2017 Fintech Leader. Expect China to lead the world in payment exports.

Sorry Seems To Be The Hardest Word …

Banks in Africa are are like that ex who took you for granted but now wants to make things right. Sure, they did the basics like setting up infrastructure but didn’t go the extra mile to take care of everyone’s needs. Banks on the continent dropped the ball on figuring out mobile money services and left potential bankers out of the loop. Now that fintech startups have stepped in to offer way better services that can help way more people, the banks are seeing the error of their ways. To right their wrongs, banks are teaming up with startups like MFS Africa and Nomanini to reach untraditional young consumers.

THE STREETS ARE TALKIN’

Hong-Kong based Bitcoin exchange Bitfinex told us its system had been compromised. Like thieves in the night, hackers allegedly made off with a cool US $65 million in real money. The exchange is looking into the breach. In the meantime, Bitcoin’s value dropped by 7.8 percent earlier this week.

China’s got a trust problem with its charity organizations. Alibaba’s CEO Jack Ma wants to use blockchain technology to make sure charities are using donations for the right purposes. Alibaba’s Ant Financial is leading the effort on this. Transparency FTW …

The charity world is pretty old school when it comes to donations. It’s all about those cash money donations. But, you can only give what you have. So, if people are short on dolla bills, charities are SOL. DipJar wants to change that up by allowing people to donate with credit or debit cards for “impulsive, on-the-spot giving.”

While Alibaba’s trying to figure out this blockchain situation, IBM seems to be way ahead of them. The tech company is all set to kick off the first major implementation of the technology for its business. IBM’s figured out how to use the technology to settle financial disputes between partners and customers. #NBD

One last thing on the checkout process, Venmo’s no longer for just easily reimbursing your friends. It’s branching out into checkout services for retail apps. Buying things you probably don’t need just got easier…

Virtual Skinny: No-no-no-NOTORIOUS!

Posted by The Virtual Skinny on April 4, 2016 in Internet & Tech, Newsletter

4.4.2016

Good to Know: Techies are notorious for acronyms. Here’s a guide to what letter combos like MVP (minimal viable product) and UV (unique viewers) mean.

THE SKINNY

When You Gotta Get Those Pay-pers …

The “Panama Papers” that is … Yesterday, the entire world learned about Mossack Fonseca, a Panamanian law firm at the center of what is being called the biggest leak of private documents to date. In other words, this leak makes Edward Snowden’s NSA leak look like child’s play.

When You Want to Know What’s Going On …

Well, it really took one push of a button. About a year ago, an anonymous source sent an encrypted message to German newspaper Süddeutsche Zeitung (SZ). The message contained documents leaked from the Panamanian law firm about shell companies and offshore accounts belonging to some major celebs, politicians, and even organizations (ahem, FIFA) that are no strangers to alleged corruption. Within a year, the stack grew to 2.6 terabytes of data. Basically, that’s enough information to fit onto just under 450 CDs (Remember those? Talk about Throwback!)…

**When You’re No-no-no-NOTORIOUS…**

After SZ got their hands on the docs, it sent the information over to the International Consortium of Investigative Journalists. Apparently, sifting through these docs is a joint effort – 107 media companies (including BBC Panoroma) spread across 78 countries are involved. Already, we know that these docs discuss things like $2 billion that link to Russian president Vladimir Putin and his peeps, Iceland’s Prime Minister’s undeclared stakes in an offshore company, and members of FIFA.

When You Want No Misunderstandings …

To be clear, some shell companies are actually legit. For instance, the media believes Apple created shell company, SixtyEight Research, to secretly build a car with minimal media attention. Even tax avoidance (not to be confused with tax evasion) is on the up and up. But, other shell companies and offshore accounts are simply just criminal. From the looks of it, the “Panama Papers” could potentially expose what the world’s 1% are doing on the down low.

When You’re Getting The Popcorn Ready …

Redditors are fired up and ready to go, and the Twitterverse is already a buzz with people sounding off on the #panamapapers … *Sips tea*

WHAT ELSE IS GOING ON?

It’ll Happen When The Time Is Right …

Last week, the U.S. Department of Justice dropped its case against Apple. It no longer needed the court’s help in compelling the company to help the U.S. government unlock an iPhone belonging to a terrorist in the San Bernardino attack. The government relied on technologists’ help and managed to unlock the iPhone. Now, the FBI is telling the law enforcement community that it’ll help them out in as soon as it’s cool under current law and policy. But, it may not work out that way. Reports say the solution is likely to leak, and Apple will likely jump on the leak with a quickness to fix the flaw.

MAP IT OUT…

Check out how the “Panama Papers” leak looks in comparison to some other major disclosures.

THE STREETS ARE TALKIN’

Fashion do(s) … Massachusetts Institute of Technology aka MIT, small textile company Warwick Mills, and the U.S. Department of Defense want to give the entire textile industry an upgrade. The collabo is focused on figuring out how to get tiny semiconductors into fabrics for seeing, hearing, communicating, warming up, and cooling down, etc. Think if your clothes were kind of like FitBits but better.

Ride-hailing companies like Uber and its Chinese competitor Didi Kuaidi are present in Latin America. But, now it’s a race to see who can dominate. All eyes are on Brazil. It’s kind of a big deal being the 5^th largest population in the world and all … Speaking of Uber, the company is making moves on the African continent. It’s coming soon to Ghana, Uganda, and Tanzania in June 2016.

Facebook Live, the social network’s live video feature, may just be another annoying notification to us regular folks, but media companies and amateurs are loving it. Drawing large audiences FTW …

eHarmony is known for matchmaking for dating, and now it wants to help folks find the right careers with new site, Elevated Careers.