Europe

Virtual Skinny: Monday Motivation

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

3.28.2016

Good to Know:  “You’re not normal. You’re you. You’re awesome.” – @thekidpresident #mondaymotivation

Happy-Monday-awesome

THE SKINNY

When You’re Still Working Out the Kinks …

Over the weekend, a deadly bombing happened at a children’s park in Lahore, Pakistan,
taking the lives of 69 people and leaving about 300 injured. So, Facebook launched its “Safety Check” to let people “check in” as safe.  But, it didn’t work as expected. 

When Something Is A Major Fail … 

The “Safety Check” is intended to be avail for people close to the event, but that wasn’t the case on Sunday, March 27.  Instead, FB asked people all over the world (South Africa, Nepal, Canada, and U.S.): “Are you okay?”

When You Need to Apologize for Your Behavior …

Before it was too late, Facebook said “sorry.” The company copped to its mistake and blamed it on a bug that is “counter to the product’s intent.”  Safety Check’s been giving FB some issues since its debut, but those issues have been more along the lines of FB alleging playing faves on when and where to launch the features.

WHAT ELSE IS GOING ON?

What’s your motivation?

By now, you’ve probably heard a lil’ something, something about Apple’s rumble with the U.S. government over encryption. Now, the issue is going global.  With the recent terrorist attacks in Europe, France wants to act quickly. French lawmakers are seeking to make it easier for intelligence bodies to have more power in getting people’s personal data. A similar proposal allowing governments to “snoop” has cropped up in Britain. But, German and Dutch officials aren’t here for any of it and oppose “back doors” in encryption services. In the meantime, all eyes are on Britain since it’s a big market for American tech companies.

THE STREETS ARE TALKIN’

Ride-hailing app Uber is using its “Code on the Road” game to recruit engineering talent.  Fun Fact: Some people who have played already work in engineering.  Uber says it’s not playing the “targeting” game when it comes to who can play.  Rather, the company says it’s launching the game in cities where there are tons of tech jobs.  Hmmm … We’ll go along with that … for now. BTW, $10K is on the line for people who play and find bugs, which could threaten privacy and security.

Yahoo is putting its core Internet business (think search, email, etc.) up for sale. And, the latest word on the street is that Microsoft is chatting with Yahoo’s investors about a private equity deal.

You’re a lucky man, Ross Martin!  He’s the first customer to receive the first Oculus Rift virtual reality headset.

Virtual Skinny FinTech Ed: When It Rains, It Pours …

Posted by The Virtual Skinny on in FinTech Edition, Newsletter

2.3.2016

Keep Spreading the Word:  We’d appreciate if you’d tell your friends to get in on our FinTech weekly action.  They can sign up here! 

THE SKINNY

When People Are Coming For You … 

The European Union (EU) wants to do more to track how funds are transferred among terrorists.  Looking at you, Bitcoin (and prepaid cards).

Please Tell Me More …

After the Paris terrorist attacks in November 2015, the European Commission (being pushed by France) is focused on Bitcoin and prepaid cards for one main reason: identity. Using these services is a good way for bad guys (or anyone really) to hide financial transactions because it’s hard to uncover people’s identities.

When You’ve Already Got Summer Plans … 

The Commission plans to pitch some new rules by the end of June 2016 that would make users reveal their true identity.  We’ll have to wait and see how that turns out.

WHAT ELSE IS GOING ON? 

When It’s Your Time … 

Peer-to-peer (P2P) lending had a pretty good 2015 and looks like 2016 may be even better. New companies like Lending Club, OnDeck, Prosper, etc. popped up post the 2008 financial crisis to give people the loans they couldn’t get from banks. P2P lending startups will likely be on the rise this year thanks to things like an increase in interest rates, regulation, market size, and competition. Who knows? Internet companies like Facebook, Google, and Amazon have probably got next in the p2p lending game.

THE STREETS ARE TALKIN’ 

Stellar, an open-source payment network based in Silicon Valley, wants in on the instant money transfer situation in Nigeria.  It’s teaming up with fintech company Oradian that deals with microfinance systems in the name of financial inclusion. Transferring money may just get a lot easier for underbanked rural Nigerians.

While we’re on Nigeria, fintech startup Interswitch is about to make it big! It’s CEO isn’t talking, but we have it on good authority that the digital finance infrastructure (think platforms used for processing payments) may soon make its debut on the London Stock Exchange and become Africa’s first tech unicorn (meaning its worth at least a billion dollars). Kind of a big deal…

Ex-JPMorgan Chase exec Blythe Masters is keeping it in the family. Masters’ startup Digital Assets and the bank are playing on the same team for a blockchain trial run on how to make trading faster and more efficient. Oh, and Goldman Sachs and IBM also want a piece of the company for about $8 million combined.

Bitcoin and blockchain are blowing up in Asia. Here’s the rundown: Japanese VC firm SBI Investment pours money into bitcoin exchange Kraken; Bank of Tokyo-Mitsubishi UFJ, Tokyo’s largest bank, has got its own digital currency, “MUFG coin.” Add South Korea’s Central Bank to the growing list of entities looking into blockchain technology.

 

 

 

The Virtual Skinny: Go Time …

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

11.23.2015

Good to Know: ‘Tis the season for giving. Turn to Charity Navigator or the Better Business Bureau’s Wise Giving Alliance to avoid being scammed by an online charity this holiday season. 

THE SKINNY

Re-Thinking Your Approach … 

U.S. company Shotspotter wants to use its technology to help cities around the globe better respond to terrorist attacks like the ones we’ve seen in Paris, Beirut, Mali, Mumbai, Kenya, etc.

What Does It Do? 

The technology, which is currently deployed in 90 cities around the world, relies on Internet-enabled microphones to hone in on specific areas where there’s gunfire or explosions. In a matter of 30-45 seconds, authorities are alerted of a potential attack. The company wants to expand beyond 90 cities so its teamed up with General Electric.  Both companies think that incorporating the technology into street lamps is the best way to go for full coverage of entire cities. Understandable … GE’s been on its “smart cities” mission for a while and already has “smart” streetlights.

Why Not Cover the Entire Globe? 

David Bray, an executive in residence at Harvard University, wants to see a Shotspotter-style system created worldwide. Bray thinks including Shotspotter-type microphones in devices like cellphones would do the trick. But, for that idea to work, governments need to partner with private companies like Google.  The Internet company declined to comment. We’re thinking this raises all sorts of red flags for people’s privacy. Also, it probably isn’t a good look for government surveillance, which isn’t a fan favorite for Internet and tech companies.

WHAT ELSE IS GOING ON? 

When You Make Light of a Pretty Serious Situation …

Brussels is on a high terrorist alert and issued a city-wide lockdown over the weekend. After the Paris terrorist attacks, authorities are still on the hunt for suspects in Belgium. Yesterday evening, Belgian police asked citizens to step away from the Twitter-verse to avoid tipping off suspects about their armed operations. Belgian citizens didn’t exactly follow orders. They turned fear into humor by kicking off a tweet-storm about their pet cats with the hashtag #BrusselsLockDown. On a serious note, Belgian police carried out 22 raids and ultimately arrested 16 people.  Police are still unsure of suspected gunman Salah Abdeslam’s whereabouts.

Decisions, Decisions … 

Austrian student Max Schrems will keep going after Facebook (FB).  Schrems is partly responsible for the European Court of Justice recently throwing out the US-EU Safe Harbor, a longstanding data transfer agreement between the U.S. and European Union. Schrems has got major problems with FB’s privacy policy.  An Austrian court has already let him file a personal suit against FB because of it. But now, he’s looking to team up with 25,000+ people for a class action against the social media company.  He just needs the go ahead from the court. Meanwhile, FB says it’s done nothing wrong.

When Someone’s Got Your Back … 

Ever tried watching a video on YouTube but can’t? You’ve probably seen some variation of the following: “This video is no longer available due to a copyright claim by [insert media company, network, artist, etc. here].” Under U.S. copyright law (the Digital Millennium Copyright Act specifically), sometimes a video take-down (like what you see on YouTube) is legit; but other times, it’s not. The law isn’t exactly intuitive, and regular folks, who aren’t well-versed in the law, can be intimidated by the process.  They often choose not to fight back against take down requests by rightsholders such as music labels, media companies, networks, etc. Google is sick and tired of YouTube content creators being unfairly targeted under the law so it wants to help out.  The company wants a select few to fight back and is prepared to financially support their legal woes up to US $1 million.

THE STREETS ARE TALKIN’ 

Does our pact mean nothing to you? Yahoo CEO Marissa Mayer asked her execs to take a pledge to stand by the struggling company for three to five years.  It may not be working. Rob Barrett, Yahoo’s head of media strategy and operations, turned in his walking papers, making him the latest employee to dip out on the company.

What do you do when your daily deals company is on a financial decline? Pen a blog post comparing your company to a drug, of course. Andrew Mason, Co-founder and former CEO of Groupon, says “Groupon is powerful like morphine is powerful … If you use it too much, you’ll overdose and die. But take it in moderation and it can do wonders.” Interesting …

Google backed out of China five years ago after refusing to keep up with the country’s self-censorship policies. But, a lot can change in five years. China’s a pretty big market for Internet companies, and Google wants back in.  The company plans to launch a country-specific version of Google Play in China.

Alphabet, Google’s parent company, is placing big bets on Nest – one of its acquisitions worth $3.2 billion.  With devices and products such as “smart” thermometers and smoke detectors, Nest is the company’s way into the smart home market.

Facebook CEO Mark Zuckerberg and his wife Priscilla Chan will soon welcome their first child, a daughter.  The Zuck is taking two months of paid paternity leave. We care because gender norms is a hot topic in the tech industry.

The Virtual Skinny: Surprise, Surprise

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

11.12.2015

Good to Know:  We all know what it’s like to have the case of the Mondays but turns out that people actually hate Thursdays more according to posts on the Whisper app. 

THE SKINNY

Yikkity Yak, Don’t Post That … 

Using anonymous messaging app Yik Yak to post racial threats is a pretty terrible idea. Just ask 19-year-old, Missouri University of Science and Technology student Hunter Park.

What Went Down? 

Park took the app and allegedly posted a message threatening black students and faculty at the University of Missouri (Mizzou), the sister campus to Missouri University of Science and Technology. The actual words used were “I’m going to shoot any black people tomorrow, so be ready.”  Umm… terrifying … Black students fled campus before police arrested Park on suspicion of making terrorist threats.

Posters Beware … 

College kids are very into Yik Yak, but most of them probably didn’t read the fine print. The app says it can hand over users’ information (e.g. Internet protocol address, GPS coordinates, date and time of message, etc.) to police if there’s a subpoena, court order, or search warrant involved. But, all that paper work isn’t needed in the event of an emergency like death threats.

Not the First Time …

Park’s threats along with some others surfaced on Yik Yak after Mizzou’s President and another senior university official were forced to step down.  Their departure came after weeks of protests calling out the university’s handling of students’ concerns over racial incidents on campus. The app has a history of users’ posting these types of messages. In recent weeks, a few arrests have been made on college campuses across the U.S. for similar threats by other students.  Yik Yak founder Brooks Buffington says the app is not meant for this type of behavior. 

WHAT ELSE IS GOING ON? 

Paying Your Fair Share …

AirBnB was fired up when it scored its major “W” by shutting down San Francisco’s Proposition F, which would have been bad news bears for short-term rentals.  But now, the home-sharing service is taking things down a notch. This week, the company’s out with what it’s calling the “AirBnB Community Compact” to mend relations with local governments. AirBnB is willing to pay taxes, share unidentified data on its hosts and guests, and banning illegal hotels for participating on the platform.

When Someone Tries To Put You in a Box … 

“Don’t do it,” says Chinese Internet company Alibaba.  The company thinks it can do better and is looking to expand its empire.  Alibaba is getting into U.S. territory by throwing money at high-tech U.S. startups. The company also wants to export goods from U.S. small and medium-sized businesses over to China.  Btw, the company’s setting the record straight … It’s no e-commerce company. Instead, it wants to help other businesses compete with the Amazons of the world.

We Still Need Confirmation … 

The U.S. and EU are working hard to figure out a deal that will allow American companies to transfer Europeans’ data back to the States.  The EU may have some new stipulations. EU Justice Commissioner Vera Jourova says it may want American companies to turn over reports detailing just how many times U.S. intelligence agencies are reaching out to them and inquiring about EU residents. You know, just to double-check that things aren’t getting out of hand.

THE STREETS ARE TALKIN’

Social media company Facebook’s out with its new “breaking news” feature called Notify. You get your pick of what type of news you want to see from over 70 publishers.

Apple wants you to be able to make instant payments to your friends. It’s rumored to be working with banks to figure out a mobile peer-to-peer payment service.

Ride hailing app Uber wanted to get Nokia Maps in its corner to improve its navigation service, but things didn’t work out.  Uber has moved onto navigation company TomTom and worked out partnership deal.

Online music streaming service Spotify’s trying to get you to the next big show with concert recommendations curated just for you.

IAC/Interactive Corp, owner of brands like OkCupid and CollegeHumor.com, wants to add Angie’s List, reviewer of local businesses, to its collection via a merger. Angie’s List is thinking things over.

LinkedIn knows it sends way too many emails and is working on a tool to fix that. Internally, the tool is known as Air Traffic Controller.

The Virtual Skinny: Give Me A Beat

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

10.21.2015

Good to Know:  Facial recognition technology can tell if people are depressed just by the muscles they use to smile. 

THE SKINNY

When Your grades come out, but … 

Yahoo released its earnings report for the third quarter, and the numbers are dim. Though revenues went up by 7% reaching $1.23B, sales fell by 8% to $1B. After three years on the job, CEO Marissa Mayer is still trying to make Yahoo work.

It’s Definitely Broken, Fix It … 

Advertisers aren’t flocking to Yahoo anymore, and Mayer anticipates that things won’t improve during the fourth quarter. This is concerning because the holiday season is usually when advertisers score big.  But, Mayer says not to worry.  She’s a woman with a plan.

The Glass is Half Full … 

Mayer’s looking on the bright side and sees this as an opportunity to narrow the company’s focus and prioritize its transition in becoming more mobile-friendly. Cue the cuts. First up? Yahoo’s foray into content has gotta go.  It took on NBC’s axed show Community and other original programming for $42 Mill but saw no clear path to making money from its investment.  That’s what we call a sunk cost, folks. Mayer also wants everyone to take a chill pill over recent news about some of her execs leaving the company.  She says those decisions came from “careful planning.”

What Are We Going To Do?   

Yahoo thinks teaming up with Google will make things better.  The search company will return search results and display ads for Yahoo users.  But first, the Department of Justice needs to give the Yahoo-Google partnership its blessing.  Mayer’s got more things lined up and will let us know more over the next three months.

WHAT ELSE IS GOING ON? 

Courage Social Media Under Fire … 

Austrian law student Max Schrems initially wanted the Irish Data Protection Commissioner (IDPC) to look into how Facebook was handling Europeans’ information.  Specifically, Schrems was concerned that the U.S. government (NSA) was poking around Europeans’ private details via FB’s system. At the time, the IDPC said no. But, things change. After a major decision by the EU Court of Justice that invalidated the way U.S. companies move data across the Atlantic, the IDPC has decided it will launch an investigation into the matter.  FB says it’s done nothing wrong and plays by Irish and EU rules. To be continued … 

I Want You Outta My System … 

U.S. law enforcement wants to see what’s in your iPhone (in the name of criminal investigations of course). But, Apple isn’t buying it. The company is very vocal about its commitment to making sure Apple users are secure and protected.  The smartphone manufacturer just told a judge that if users protect their latest iPhone with a password, pin, or fingerprint, the company simply cannot get into the device on behalf of law enforcement. iOS encryption just won’t allow it.  Sorry Department of Justice, looks like Apple won’t be giving you the access you want.

THE STREETS ARE TALKIN’

Facebook is bringing TechPrep to the industry’s diversity party.  TechPrep is a way for students and their parents to learn how to get a jumpstart in computer science. The resource will be available in English and Spanish.   Oh, and it’s also taking cues from emerging markets when it comes to product development. 

Sukhinder Cassidy founded Boardlist to place women on companies’ Board of Directors. The org, which counts former Twitter CEO Dick Costolo as a member, took just 2 months since launching to make its first placement. Cassidy says she’s working with women first but could see this being an effective resource for underrepresented groups too.

Tyra Banks tried to teach us all how to “smize” with her app.  It failed (just keeping it real). Banks is giving it another go with her new beauty startup, which she hopes will empower women entrepreneurs.

Add ’em to the line up. New York federal prosecutor Preet Bahara just joined the list of people trying to figure out whether fantasy sports sites like FanDuel and DraftKings are legal under U.S. federal law.

Yahoo execs aren’t the only ones making moves.  Snapchat’s Chief of Communications Jill Hazelbaker is catching a ride over to Uber (see what we did there?) as its new VP of Communications and Public Policy.

Uber has no plans to make a Wall Street debut anytime soon.  CEO Travis Kalanick said “We’re like eighth graders and someone’s telling us we need to go to the prom.” We guess that means he thinks the company needs more time to grow and mature before going public. Kalanick also wants you to know that his company’s China strategy may be working. China now accounts for 30% of Uber’s rides.

After five years, Google is getting back into the Chinese market with an investment in artificial intelligence (AI) company Mobvoi. The AI company operates a language voice activated search engine.  In other news, Google wants merchants to see just what products people across the U.S. search for on its machine.

Chinese e-commerce company Alibaba is getting a little help from Russian shops to grow its marketplace.

All this talk about shopping.  Amazon’s prepping for the holiday season by bringing on 100k temp employees.

Ex-military officers are a big draw for Israeli tech startups apparently.

SHARING IS CARING

We appreciate you taking a few minutes to be with us on a daily basis and would love if you shared this newsletter with your friends! They can go here to join us.

 

 

The Virtual Skinny: Time to Give Thanks.

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

11.25.2014

Good to Know: Thursday, November 27 is American Thanksgiving.  Of course, there will be a lot of turkey eating that day, but the question is – conventional (factory farmed) or heritage (free-range turkeys – which is popular amongst the foodies type)?  It pays to eat well as heritage turkeys are pricier than their conventional counters.  This year, Americans will eat an estimated 234,000 conventional turkeys compared to 30K-40K heritage. If you want to know more about what you’ll likely be eating this week, check out Bloomberg’s infographic.

THE SKINNY.

Breaking Point?

Google’s legal battles in Europe have reached an all time high.  In the midst of the European Union’s 4-year antitrust investigation into whether the Internet company favors its own services over competitors, the European Parliament announced last Friday that it is considering legislation to split up the company.

Wait… For Real?

Well, technically the European Parliament isn’t authorized to tell antitrust regulators what to do in terms setting policy or influencing their investigations.  However, it still plans to move ahead with a vote on a resolution to break up Google.  The vote is set to go down on Thursday, November 27.

In A Nutshell …

If the Parliament’s resolution turns out the be popular with European politicians, there’s a chance this could put pressure on Margrethe Vestager, Europe’s competition commissioner, to file formal charges against Google.  This would further derail efforts to settle the issue.  Like most things, we’ll have to wait and see.  But in the meantime, Pope Francis spoke to Parliament this week and said that Europe is seen by the world as “somewhat elderly and haggard.” He said it, we didn’t.

What Else is Going On This Week? 

And, the Drama Continues…

Uber’s been having a tough time lately.  First, one of its executives made a highly controversial comment about “digging up dirt” on reporters who aren’t their #1 fans.  Then came allegations of its “God View” internal tool to track a journalist without her permission.  This prompted the company to hire an expert privacy attorney to conduct an internal review of its privacy policies.  Now, Brussels is gearing up to put together a new law to regulate the app.  No word on the details of this legislation, but services like Uber often finds themselves at odds with traditional taxi firms.  Traditional taxis are subject to all sorts of safety requirements, insurance rules, and taxes.  Regulators say that Uber currently doesn’t pay taxes in Brussels so the legislation may aim to address that.  But, Uber says that it follows all applicable tax laws and pays taxes where it plays.  #TheStruggleIsReal

Somethin’ Is Better Than Nothin’… 

Last week, President Obama talked about his plans for an executive order on immigration.  For a while now, technology companies have been asking for changes to the immigration system that would allow more H1-B visas for foreign-born high-skilled workers and making the green card process more efficient, streamlined, and generally faster. While Obama can’t make that happen without Congress, his plan includes efforts such as giving special founder’s visas to foreign entrepreneurs and extend the amount of time someone with a U.S. technical degree has to temporarily work under an “optional training program.”   Some in the technology industry are pleased, but there’s still more work to be done – looking at you, U.S. Congress.

Speaking Of …

In 2013, Spain passed a law to help local businesses attract talented, foreign entrepreneurs.  The visa application is pretty straightforward merely requiring a government-approved business plan, health insurance, and enough funds to live in the country.  In addition to entrepreneurs, the government is also offering to investors who at least $625k in real estate, high skilled workers, and researchers, scientists, teachers, etc.  The new law isn’t without its challenges, especially if you’re a non-Spanish speaker; however, it’s said to be a fast track process with decisions made within 10 and 20 working days depending on the type of application.

The Streets Are Talkin’

The new thing for teens and investors is a new anonymous messaging app called Yik Yak.  It recently raised $62 million.  Unfamiliar with Yik Yak? Here are some “gems” to get familiar how it’s being used.

Rakuten, the Japanese e-commerce company, is looking to expand its reach, and it’s investing into a Singapore-based mobile ad tech company called PocketMatch.

Sony is not into its TV and mobile products. The company will be cutting these product lines to cut costs and is re-focusing on its PlayStation 4 and image sensor portfolio over the next three years.

The Virtual Skinny: Brazil Futbol Has Seen Better Days

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

7.9.2014

GOOD TO KNOW:  Next time you want a new, culinary adventure but are short on cash, just launch a Kickstarter campaign. That’s exactly what  Zack Brown of Ohio did for his first attempt at making potato salad.  Brown jokingly sought to raise $10 to fund his trial run but ended up raising about $44,000.  Best. Potato salad. Ever!  

THE SKINNY.

 

SHARING IS CARING. 

In a 12-3 vote, the Senate Intelligence Committee led by Chairwoman Dianne Feinstein (D-CA) passed the Cybersecurity Information Sharing Act (CISA).

THE CYBER-WHAT, NOW? 

Authored by Feinstein and Senator Saxby Chambliss (R-GA), CISA seeks to improve the nation’s cybersecurity measures by allowing private companies to voluntarily share real-time information regarding potential hacks or cyber threats with the federal government.

PLEASE, TELL ME MORE. 

The bill grants legal immunity for companies that choose to share threat data with the federal government but also with each other.  It also allows companies to monitor their private networks for threats and implement measures to counter potential attacks.  Privacy advocates are not happy. They say the bill basically gives Uncle Sam authority to use the information beyond thwarting cyber threats.  To them, this is a major step back for privacy reform efforts in a post-Snowden world (yeah, that guy again). Senators Ron Wyden (D-OR) and Mark Udall (D-CO) agree that there should be “strong protections for Americans’ constitutional privacy rights.”

LET’S AGREE TO DISAGREE.

Though Feinstein and Chambliss agree that the bill isn’t perfect, they both maintain that the  bill and its seven amendments strengthen privacy protections.  For example, companies must strip personally identifiable information from data before turning it over the government.

IN A NUTSHELL.

This bill becoming the law of the land will be a challenge to say the least. First, it must pass the full Senate. If that happens, it’ll need to be coordinated with a similar bill that passed the House. No word yet on when it will be up for a full vote.

 

 WHATELSE IS GOING ON? 

 

HOW TO MAKE THE BEST OF A BAD SITUATION… 

Like good business people, companies are making the most of the European Court of Justice’s ruling that permits anyone in Europe to request that Google remove links to content based on a belief that the information breaches their privacy.  These companies such as Britain’s Hit Search and French startup Reputation VIP are seeing dollar signs and are offering services ranging from monitoring how many times people are mentioned online to managing their online reputations by assisting people in submitting requests for the search engine to take down less than favorable stories about them.

HOW TO PULL OFF A GOOD ROLE REVERSAL…

The U.S. and China are trying to work things out.  Administration officials, including Secretary of State John Kerry, Ambassador Michael Froman, Treasury Secretary Jack Lew, and Commerce Secretary Penny Pritzker were in Beijing for the U.S.-China Strategic and Economic Dialogue to discuss ways to improve economic relations.  Coming off that meeting, Congressional trade leaders fired off a letter expressing frustrations with China’s trade secret theft and economic espionage impacting the U.S.  Meanwhile, also happening in China, U.S. electric automaker Tesla Motors Inc. is being sued for trademark infringement by a Chinese businessman because he registered the trademark before Tesla entered the Chinese market. He’s asking that the automaker stop all sales and marketing in China and also fork over about $4 million (or about 24 million yuan). It’s important to note that this same court just heard Apple’s case against Shanghai company Zhizhen Internet Technology where the U.S. tech company alleged that Zhizhen’s  patent for speech recognition technology is valid.  The Beijing court felt otherwise and ruled in favor of Zhizhen.

HOW TO START COLLEGE OFF ON THE RIGHT FOOT…

Just get an internship with Facebook.  According to media reports, the social media giant is following in the footsteps of LinkedIn and AirBnB and is opening its doors to high school students. Seventeen-year-old Michael Sayman recently landed a summer gig with FB, indicating that Silicon Valley wants to maintain its youth culture and recruiting top talent from high schools or even middle school may eventually become commonplace.  With a healthy compensation and company perks, there is a possibility that these kids may skip college all together.  Sayman is unsure whether he’ll pursue a higher education.

 

THE STREETS ARE TALKIN’ 

 

Things are heating up in New York City, and it’s not just the summer solstice.  Lyft is officially entering the New York market this coming Friday.  While Lyft is offering discounts in the form of unlimited free rides in exchange for driver feedback and $25 vouchers for newbies.  Uber also recently temporarily discounted its UberX fares by 20 percent.  We’ll see how this plays out.

In other Uber news, the ride-sharing company just reached an agreement with New York’s Attorney General.  The company has agreed not to kick in its surge pricing during emergencies but will instead limit prices during trying times (to the extent possible within state laws).

Back in June, Yelp – an online review website – filed an objection to the European Union’s proposed antitrust settlement with Google.  This proposal would impose significant penalties on Google but for the most part, reports on this settlement indicate that the search giant would remain unscathed as there will be no regulatory oversight of its secret algorithm.  Yelp says that Google search results favor its services like Google Plus Local, which competes directly with the review site.

Also in Europe (Spain in particular), Catalonia’s regional government is looking to impose fines on AirBnB for being in “serious” breach of its laws. The regional government wants to take it a step further and also block Catalonia users from accessing the company’s site.