1.8.2016

Good to Know: ‘ILI’ is described as the first wearable translation device. Seems like a bomb product, right? But then, this happened. #MarketingFail

THE SKINNY

Time for a Pow-Wow…

Tech leaders and White House officials are getting together today to talk terrorism.

Who’s On the List?

White House Chief of Staff Denis McDonough, presidential counterterrorism adviser Lisa Monaco, Attorney General Loretta Lynch, FBI Director James Comey, National Intelligence Director James Clapper, National Security Agency Director Mike Rogers and reps from Twitter, Apple, Google, and Facebook allegedly.

What’s on the Agenda?

(1) How to make things easier for law enforcement and intelligence agencies to I.D. terrorist groups online. (2) Ways to make things that much more difficult for militant and terrorist groups to recruit peeps via social media. (3) Specifically, how to use technology to throw militant operatives off of their violent radicalization and recruitment game.

Team Work Usually Makes The Dream Work …

But, tech companies have a tough balance to strike. While they want to seem cooperative, they also don’t want to appear too friendly with governments. Post Edward Snowden leaks, companies helping governments with surveillance is just not a good look.

WHAT ELSE IS GOING ON?

Warning Shots …

Pretty much everyone and their moms in the tech world are jazzed up about next-gen products. But, the U.S. Federal Trade Commission is letting tech companies know that they should tread lightly. The agency wants companies to watch how they are collecting and using massive amounts of users’ data aka “big data.” The FTC definitely understands that “big data” could have some important social benefits (e.g., proving people’s creditworthiness for loans), but it wants companies’ to make sure they are doing what they can to decrease social biases.

Who Does That Anymore?

If it’s up to social network Facebook, you should just forget about making regular calls and text messages. Facebook Messenger has now got over 800 million users. The company not only wants to take over how you communicate with your peeps, but it’s got a virtual assistant feature in the works to help with your scheduling, shopping, etc. Pretty cool …

We Want In …

When you see an opportunity, jump on it immediately! That’s exactly what crowdfunding platform Indiegogo is doing with its new “enterprise crowdfunding” consulting service. Crowdfunding has typically been reserved for artist-types and pretty much anyone with a slightly weird but innovative idea. Big brands like Brookstone want to be innovative too and are eyeing crowdfunding platforms. Why? Two reasons: (1) Major brands want to learn a thing or two about crowdfunding, and (2) crowdfunding platforms are a good place to scout out potential products/partnerships. Basically, a win-win situation.

THE STREETS ARE TALKIN’

It’s the same thing Netflix does every night … Try and take over the world. This week at a mega tech conference in Las Vegas, the streaming service announced that it’s now live in over 130 counties. #BizGoals

The new year may be off to a very rough start for some Yahoo employees. The company’s expected to let go of at least 10% of its workforce.

Going … going … GONE! Looks like the fashion deal site Gilt Groupe may have been a victim of its own flash sale model. The company sold yesterday for $250 Mill to Hudon’s Bay, the parent company of Saks Fifth Avenue. The sale price is a mark down from the $286 Mill that Gilt previously raised.

Social scrapbooking site Pinterest is getting serious about increasing its diversity. The company just brought on Candice Morgan help step its game up.

Turns out giving young people Internet access via mobile devices is a recipe for success. And, these days India’s the place to be for Internet companies. That’s exactly why Tinder is setting up shop in Delhi.

And ICYMI, Twitter is trying to keep its users so the platform’s playing around with a 10,000 word character limit instead of the 140 we’re used to… Some people think this is no bueno. We could see a change in the next couple of months.

11.19.2015

Good to Know: Global investment bank Goldman Sachs is telling people to buy Apple’s stock. Why though? Goldman says Apple is no longer a hardware company but evolving into a services company. This means more growth = more $$$$. Enough said.

THE SKINNY

When You Give a Helping Hand …

Many people around the world are trying to do right by Syrian refugees. Instead of funneling funds through traditional nonprofits like the Red Cross, people are choosing crowdfunding sites like Indiegogo and GoFundMe to make online donations.

WHEN YOU HAVE All The Feels …

Norwegian web developer and activist Gissur Simonarson saw a pic on Twitter of a Syrian refugee dad holding his daughter while trying to sell pens on the streets of Beirut, Lebanon. The image touched Simonarson so much that he wanted to do something help. So this past August, he tracked them down and launched a pretty successful Indiegogo campaign.

When Something’s not what you expected …

The campaign raised about US $190,000, and the family ended up using the money to buy a bakery. But, Simonarson says issues came up that he didn’t anticipate. First, between Indiegogo and the payment service PayPal, the family lost about US $20,000 of their donations to fees charged by these platforms. Sidenote: Indiegogo’s new charity platform eliminates these fees. Second, so you’ve raised the money, now where do you keep it? Yes, a bank account would be logical, but there was no way for Simonarson and the family to set one up. Add security and safety to the list of concerns.

WHEN YOU’RE DOWN FOR THE CAUSE …

People pouring money into online platforms to help others is a good thing, right? Well, yes and no. There’s concern that increased online giving to individuals may create issues of equitable distribution since crowdfunding platforms may reflect biases of societies that use them. Also, opting for online platforms takes money away from nonprofit institutions capable of addressing crises at a macro-level. In other words, crowdfunding platforms may potentially hurt the larger cause. Perhaps, online platforms will put pressure on traditional organizations to reform their practices, some of which have not been great (e.g., mismanaging funds).

WHAT ELSE IS GOING ON?

Playing the Blame Game …

In the wake of the Paris attacks, U.S. lawmakers and law enforcement launched a blame game targeted towards today’s technology. First up? Encrypted devices. CIA director John Brennan said it’s hard to uncover info because of encryption. Then, some lawmakers blamed the Internet. One lawmaker thought it would be a great idea to shut down “ISIS websites and social networks.” Now, U.S. Federal Communications Commission Chairman Tom Wheeler is saying that it’s time for Congress to look into the Communications Assistance for Law Enforcement Act (CALEA). Basically, CALEA would make companies build mandatory pathways or “backdoors” into their technology to decipher encrypted messages. May sound good in theory, but in reality, a backdoor in these technologies would be accessible by anyone and everyone savvy enough. Privacy issues much?

On High Alert …

The European Union (EU) is considering ways to cut off terrorist financing. Virtual currencies like Bitcoin and anonymous forms of payment are on the chopping block so to speak. EU officials met last Friday and concluded that they’ll try to convince the European Commission to tighten up controls of “non-banking payment methods such as electronic/anonymous payments and virtual currencies and transfers of gold, precious metals, by pre-paid cards.”

When people aren’T Feelin’ yOU like they used to …

Match Group, the parent company of dating apps like Tinder, is now officially ‘MTCH’ on NASDAQ. The company’s IPO price came in at US $12/share, the low end of the US $12-$14 expected range. Mobile payments company Square is officially public as of today. Its price came in at an underwhelming US $9/share, way below the expected $11-$13 range we originally thought. Ouch! Attention companies worth at least a billion dollars or more (aka unicorns): These are probably more signs that investors are cooling off on tech IPOs.

It’s All About Mobile These Days …

Google is changing up how mobile search works. The company’s transitioning into the mobile age and will start indexing content from Android apps, even if these apps don’t have a corresponding website. Google is letting mobile users “stream” content from apps (Note:app downloads not necessary). The company’s testing things out with a few partners including horoscope sites and the New York Subway.

THE STREETS ARE TALKIN’

Yesterday, we said that ride-hailing app and Uber rival, Lyft, is looking for $500 million. Now, we know why thanks to some leaked docs. In the first half of the year, Lyft lost a ton of money and didn’t bring in much revenue. To be more specific, we’re talking losing $127 million on $46.7 million in revenue. We’re not financial experts, but …

Dutch file-sharing service WeTransfer is tapping into the online music streaming game alongside Spotify and Apple Music. For the company, it’s not about making money from music (ha!) but simply about getting on the map in the U.S.

Social network Facebook is improving its “Donate” button to help nonprofits raise funds. Organizations like Mercy Corp, National MS Society, and Worldwide Wildlife Fund are the first to get on board. BTW, #IStillUseFacebook was trending on Twitter. #NoHate #NoShade, but we chuckled at some tweets, especially those poking fun at how FB is late to the party when it comes to breaking news.