Peer-To-Peer (Money) Petty

PayPal-owned peer-to-peer money transfer app Venmo is a hit among millennials because of its social feed.  While Venmo users are launching the app to complete transactions a couple of times a week, they’re spending most of their time checking out what their friends are doing. Who charged who and for what? It’s a good way to get all up in people’s business. Although the app is a quick and efficient way to reimburse your friends, it turns out that the app may be turning your peers into petty people.

venmo

A recent QZ article documented how ‘p2p petty’ may be the trend. The article suggests that “invoicing” friends after sharing an experience (i.e., a night in with Netflix and wine, sharing cab rides, meeting up for drinks, etc.) is fast becoming commonplace.  To avoid any awkward situations with friends, a select few are avoiding downloading the app and opting to deal in traditional cash money instead.

Which camp do you fall in? Tell us your petty story with Venmo or other peer-to-peer money transfer services!

The Virtual Skinny: Run That Back!

12.11.2015

Good to Know:  friendswholiketrump.com will tell you if your friends support or are at least interested in Donald J. Trump and what he has to say. 

THE SKINNY


Let’s Go Halfsies? 

After its board meeting last week, Yahoo has decided to keep its stake in Chinese Internet company Alibaba. There’s also a chance it’ll put a “for sale” sign on its main Internet business (things like Yahoo Mail and its other websites).

But, Why? 

Well, Yahoo initially wanted to keep its core Internet business and sell of its Alibaba stake. But, turns out that idea comes with some major U.S. tax headaches. So, the company is switching things up. It has two options: (1) Make the sale or (2) Split off its Internet biz into a separate publicly traded company aka a “reverse spinoff.”  CEO Marissa Mayer and Chairman of her board Maynard Webb choose #2.  They say making a sale on something of low-value is generally not a good move. But, they’re still not completely ruling out that option.

Moving Forward … 

It’s business as usual for Yahoo. It just released an app to help you sift through online streaming content called the Yahoo Video Guide.  And in the midst of all her company drams, Mayer welcomed twin daughters just yesterday. Congrats!

WHAT ELSE HAPPENED? 


We’re Here For You …

That’s what Facebook CEO Mark Zuckerberg is telling the Muslim community. Zuckerberg is committed to protecting their rights.  In the wake of terrorist attacks in Paris and San Bernardino, CA, things got downright nasty. Earlier this week, U.S. presidential hopeful Donald Trump thought it’d be a great idea to suggest banning Muslims from entering the U.S. Pretty much everyone disagreed. Zuckerberg says even though people are turning against them, Muslims are always welcome on his social platform. 

Will The Real Slim Shady Please stand up? 

We all want to know who is responsible for bringing us the virtual currency bitcoin. To date, people credit Satoshi Nakamoto, but no one really knows whether Nakamoto is a person or a group of people hiding behind the name. Recently, publications Wired and Gizmodo think they’ve figured it all out. Based on a ton of evidence, these publications are pretty convinced that Craig Steven Wright either invented bitcoin or we’ve all been royally punked. Coincidentally, Australian federal police officers busted into Wright’s home and office. Authorities say reasons for the raid are tax-related and have nothing to do with bitcoin. Now, people are wondering if id-ing bitcoin’s creator even matters. Some say “who gives” because no single person owns the bitcoin network. But, others disagree. They want someone to step up and help sort out some of the network’s bugs.

It’s All About the Benjamins, Baby… 

Twitter needs to make more money. It’s targeting people who read tweets without actually logging onto its platform. Coming to a desktop near you, Twitter will be playing around with a feature that shows ads to these non-active users. This means about a half a billion more people each month. Since we’re talking numbers, that averages out to an additional US $2.50/user. With Jack Dorsey leading the company, lots of changes are underway. Add changing up the timeline to show tweets based on relevance rather than timestamps to the list. Twitter’s just trying to make sure you get the content you want to see.

Is The Glass Half Empty or Half Full?

The Chinese government says “half full” when talking about it web censorship.  China’s government says bringing more “order” leads to increased online freedom.  And, by order, it means doing things like shutting out Western Internet platforms like Facebook and Gmail. Oh, did we mention detaining bloggers for “spreading rumors online” and “picking quarrels?” China wants people to back off. It says if things were so bad, then its online economy wouldn’t be growing so quickly. Also, it doesn’t appreciate people bashing its ways then trying to make money off of its people.

When Things Aren’t Looking Good … 

In the U.S., drivers for ride-hailing app Uber want employee benefits and are fighting to upgrade from just contractors for the company to legit company employees.  Ohio and Florida state legislators have denied their wishes.  Both states just passed laws classifying Uber drivers as contractors.  It’s unclear what these laws say exactly, but these moves could potentially ease Uber’s pain if it loses a class action lawsuit drivers brought against it in California.

THE STREETS ARE TALKIN’ 


Walmart wants in on the mobile payment game along side Apple and Google. The mega-retailer introduced Walmart Pay, its new mobile payment system. The word is Walmart still plans to work with other retailers like Target and BestBuy on CurrentC, the collective’s answer to Apple Pay.

Speaking of Apple, all you iPhone 6 and 6s users will love this … The smartphone manufacturer’s developed a battery case called the Smart Battery Case.  It’ll let you run your mouth for 25 hours.

Streaming service Netflix raked in more Golden Globe nominations than old-school TV broadcasters (8 nominations to be exact).

Turkey’s government is telling Twitter to pay up TL 50,000 (US $51,000) for not taking down alleged “terrorist propaganda.” At least it’s a fine this time, Turkey’s been known to shut down Twitter within its borders all together.

When you think you’re doing a good thing but not really… Tech company IBM quickly ended its #HackAHairDryer campaign initially intended to encourage female coders and engineers. The “hair dryer” angle didn’t go well … Women engineers fired off tweets letting IBM know that they are capable of much more.

Crowdfunding site GoFundMe just landed its new Vice President of Policy & Communications, Dan Pfeiffer. He was formerly the White House’s Communications Director.

Who hasn’t this guy gone after?  U.S. Presidential hopeful Donald Trump piped up about e-commerce company Amazon’s alleged “tax shelter.” Amazon’s CEO Jeff Bezos now wants to #sendDonaldtospace.

Yahoo can’t keep its people. It wasn’t so hard for Ad Product Chief Prashant Fuloria to say goodbye to the com-pah-nee. He’s getting back into startups.

The Virtual Skinny: Cheers!

11.20.2015

Good to Know:  Singer Adele’s much-anticipated album, “25,” drops today. If you want to hear it in full, get ready to either fire up iTunes or physically make your way to a store. She’s keeping the album off of all streaming services like Spotify and Apple Music. Some people think this could backfire and make her fans pretty angry. But, we suspect many of you won’t care since Adele’s music is SO good. Cue the tears…  

THE SKINNY


Now That’s What We Call A Rally … 

Things were looking pretty bleak for mobile payments company Square when it set its IPO price at $9/share.  But, after making its New York Stock Exchange debut yesterday, its share shot up by 45%. By day’s end, the company was valued at $4.2 billion ($13.07/share). Hopefully, this performance will be the gift that keeps on giving for CEO Jack Dorsey who turned 39 yesterday.

Onwards and Upwards … 

Moving forward, Dorsey just wants to get back to business as usual. The company’s still focused on making payments easier via its infamous card reader.  But, investors are uncertain of the company’s ability to grow as it goes up against competitors like PayPal and Verifone.  Not to worry, Square’s looking to diversify its business with services that take care of company payroll or that help set up appointments. It’s even acquired a startup called Caviar that’s in the food delivery biz.

What Does This Mean? 

TBH, it’s unclear. There’s been speculation that Square’s low IPO price could mean that unicorns in Silicon Valley, private companies in the billion dollar club, would start to see low market valuations moving forward. It’s hard to say what’s really happening. While there’s certainly a shift towards more conservative valuations, financial experts are saying we shouldn’t expect to see any drastic changes.

WHAT ELSE IS GOING ON? 


Time’s Supposed to Heal Ya, But You Ain’t Done Much Healing … 

That’s probably because you’re still Facebook friends with your ex whose new fab life is taking over your newsfeed.  So, not cool!  Facebook doesn’t want you feeling down anymore when break ups happen.  The company’s testing out a new tool that’ll help people distance themselves from their exes without de-friending them. This means seeing less of the ex’s name, profile picture, and posts on your newsfeed.  Why didn’t anyone think of this sooner? Just saying …

When The Stakes Are Just Too Damn High … 

Starboard Value, an activist hedge fund, has an idea for Yahoo. It wants the Internet veteran to sell off its core advertising business.  Whaaa? It’s no secret that Yahoo is struggling and has tried almost everything under the sun to get back on track. Nothing has worked. One thing the company has tried to do is sell off its ownership stake in Chinese Internet company Alibaba. But, pursuing this spin-off could take forever and who knows how the U.S. Internal Revenue Service would handle that transaction.  Basically, the spin-off comes with too much uncertainty and too much risk. Starboard wants Yahoo to strip down to just its stake in Alibaba and Yahoo Japan.  That’s a sure thing in the company’s opinion.  No comment from Yahoo on this recommendation.

Keep A Closer Watch, Will Ya?

U.S. Democratic presidential candidate Hillary Clinton wants social media companies to make more of an effort when it comes to preventing terrorists from recruiting followers and spreading their ideas via companies’ platforms.  Hacker group Anonymous recently waged war against Islamist militant group ISIS and claims that it has personally closed down thousands of “pro-ISIS Twitter accounts.”  Companies like Facebook, YouTube  and Twitter say that they take this type of thing seriously, which is reflected in their policies. They keep a close watch on terrorist-type activity and have no problem taking down content or shutting down accounts when users violate these policies.

THE STREETS ARE TALKIN’


Jack Dorsey, CEO of mobile payments company Square, wants to bring Square Wallet back. He thinks the digital wallet could work a second time around.

It’s a good day to be Diane Greene.  Google just brought on Greene, a veteran in the cloud computing industry, to run point on its growing enterprise cloud business. And, it also scooped up bebop, Greene’s enterprise development startup.

Online music streaming service Spotify says employees can take up to six months of parental leave. Did we mention, its six months PAID? The Swedish company wants make sure all of its employees world-wide are on the same page after their bundle of joy(s) arrive.

Oops! Their b … Indonesia only meant to cut off access to social and messaging platforms like Facebook, WhatsApp, and Viber, but the government inadvertently kicked off a country-wide black out of the entire Internet instead. Could you imagine absolutely no Internet access for an hour? The horror!

 

The Virtual Skinny: Surprise, Surprise

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: House of Cards Season 3 Recovery

3.3.2015

Good to Know:  We all know that eBay is a major e-commerce website but ever wondered how it got its name?  Turns out that the “e” doesn’t stand for electronic after all.  According to founder Pierre Omidyar, the company’s name has connections to Ebola. Omidyar had once populated the site with content related to Ebola. So, the “e” stands for ebola and the “Bay” is for none other than the Bay Area. #TheMoreYouKnow      


THE SKINNY.

Getting Things Done.

Last week, we gave you the heads up that the U.S. Federal Communications Commission would be voting on its Chairman Tom Wheeler’s net neutrality rules.  Well, the vote went down and in a 3-2 party line vote among the Chairman and his four Commissioners (2 Democrats and 2 Republicans), it was net neutrality for the win.  While the FCC Dems were all in, the two other Republicans on the other hand called out the rules’ flaws and even laid out ways that these rules could get overturned whether through a new Commission, Congress, or the courts system.  Republicans on Capitol Hill are not pleased either as they see this as big government seeking increased control over the Internet, but solutions to address this issue is causing some rifts in the party.  Outside of government, the usual lines of demarcation remain the same.  Internet companies are pleased with the rules approach to reclassify Internet providers as public utilities in efforts to ban blocking and paid prioritization while increasing transparency.  Cable companies/Internet service providers are not. Needless to say, a legal challenge of these rules is on the horizon.  #DejaVu But in the meantime, on March 18, the U.S. Senate Commerce Committee will hold a hearing featuring Wheeler. Fun Times.

When Do We Get To See It?

The public still hasn’t seen the 317-page Order, but Wheeler hopes it’ll be released soon.  The Commission’s General Counsel Jon Sallet recently penned a blog post explaining the agency’s process when it comes to adopting rules.  In a nutshell, Sallet explained that the Commission simply follows Congress’s “blueprints” through the Communications Act and the Administrative Procedure Act, which provides guidance on federal administrative action.  These blueprints are followed in order to make sure that the rule “reflects public input, permits internal deliberation, and is built to withstand judicial review.”  Sallet indicated that once statements and requests for clarity are incorporated into the rule, then it’d be ready for public release.


What Else Is Going On This Week?

Belle of the Ball … 

Chairman Wheeler’s timing is impeccable.  Approval of his net neutrality rule came just in time for this year’s Mobile World Conference (MWC) in Barcelona.  The MWC is an annual conference attended by the who’s who in the mobile space.  This year, the spotlight is on Wheeler and his decision.  According to media reports, telecom execs want Wheeler at their table to question him about his thoughts on the implications of the rules.

Can You Feel The Tension?

Tensions between tech and telecom may be at an all time high at MWC, particularly in light of the Commission’s adoption of net neutrality rules.  Around the globe, telecom companies use the same argument against Internet companies offering over the top services.  Their number one gripe is that they’ve invested so much dolla dolla bills into building their infrastructure, and Internet companies are essentially free riding and profiting off of telecom companies’ networks and are not sharing.  And as people move to mobile, carriers are concerned that they’ll remain cut out of the revenues enjoyed by Internet companies.

But, Why Can’t We All Be Friends?

Google and Facebook think that this doesn’t have to be the case and are approaching relationships with carriers through partnerships with carriers.  For instance, Google’s Sundar Pichai announced at the mobile conference that the company has plans to launch its own brand of wireless service this year (at a small scale) and is reaching out to several carriers for potential partnerships.  Both Google and Facebook are also focused on bringing Internet access to emerging markets.  Facebook’s chief Mark Zuckerberg mentioned that he’s tried to forge partnerships with carriers on Internet.org, an initiative intended to bring access to 2/3 of the world’s population currently offline.  Airtel Africa is one willing participant to work with Facebook, and as these companies develop new technologies to bring access to developing areas without infrastructure, perhaps the tides may change in terms of which carriers are willing to forge partnerships.  If you can’t beat ’em, join ’em.

While You Were Celebrating…

Though most of the attention last week was focused on the Commission’s Net Neutrality Order, the Obama Administration released its long anticipated consumer privacy bill.  This bill is intended to take a comprehensive approach to privacy rather than a sectoral approach.   Already, it does not seem that many people including the broader technology industry and privacy advocates are not fans of this proposal.  Even the Federal Trade Commission weighed in.   A commission spokesperson said, “we have concerns that the draft bill does not provide consumers with the strong and enforceable protections needed to safeguard their privacy.”  It’s unclear who will champion this bill in Congress, if at all.

In Other News…

President Obama is out publicly criticizing China’s plans to impose rules on U.S. technology companies.  In order to do business in China, these companies would be required to give the Chinese government encryption keys and passcodes intended to protect data.  Companies would also be required to create “backdoors” in their systems for surveillance reasons.


The Streets Are Talkin’

eBay/PayPal are acquiring Paydiant, a mobile wallet platform for retailers and companies.

Tinder is trying to generate revenue and is hoping that Tinder Plus is the answer.  The pricing of this premium service will depend on agenda and users’ location.  Sorry J.Lo, but turns out that love does cost a thing.

The Virtual Skinny: Brrr, It’s Cold Out There!

11.18.2014

Good to Know:  Ever had trouble finding a parking spot in a major city?  Luxe Valet, a new app offering on-demand valet parking service, is about to change your life.  How does it work?  Simply turn on the app, input your destination and be on your way.  Once you arrive at your destination, a Luxe valet will greet you (by name). The valet does all the work while you go about your business.  Ready to leave? Just hit the app to get your car back.  All of this for just $5/hour and $15 daily. Luxe is set to launch in the LA area soon but could be coming to a city near you.  We can’t wait! 

THE SKINNY.


There’s No “I” in Team But There’s A “Me”…

According to media reports, President Obama is planning to take executive action on immigration this week. His plan is expected to permit 5 million immigrants to change their undocumented status from illegal to legal by granting them work permits.

Changing Times… 

For a few years now, President Obama has consistently stayed away from taking executive action on immigration reform but has looked to Congress to pass comprehensive legislation for a much-needed overhaul of the current system.  Though the Senate passed a bipartisan comprehensive bill last year, efforts stalled in the House.  And with Republicans set to take control of both the Senate and the House next year, things may become increasingly difficult. Though President Obama previously stated that acting by his lonesome on this issue would be “very difficult to defend legally,” he now believes that it would be “legally unassailable.”   In other words, he’s ready to get things done.

What About Me? 

The tech industry has been lobbying hard for the U.S. government to make more H1-B  visas (or high-skilled worker visas) available in order to increase America’s competitiveness.  After all, immigrants founded some of the tech and Internet companies we know and love today (i.e., Google and Yahoo).  But, there’s only so much the President can do.  While there are no specific details on the plan, it’ll likely only make small changes to address this specific issue. Congress will have to act to bring about any major changes.

What Else is Going On This Week?


Back In the News… 

Spotify is making the media rounds again, but this time it’s much less controversial and doesn’t involve Taylor Swift. Uber announced this week that it’s teaming up with the online music service just to make you feel more at home while in an Uber car.  From what we hear, once you jump into an Uber, you’ll be able to listen to your Spotify music playlist. No word yet on how this will work technically.

Can We Talk?

Telecom companies and Google are talking but haven’t quite yet defined their relationship.  Google’s Project Loon aims to bring Internet access to rural, less populated areas via balloons suspended at about 65,000 feet.  The Internet company is already partnering with Australia’s largest telecom provider Telstra to test these balloons in Western Queensland.  While Google is optimistic about potential collabos to bridge the gap between telcos and rural populations, telecom analysts think that the telcos are a bit more skeptical.  Analysts say telcos fear that Google could turn into a potential competitor.  Keep you friends close and your enemies closer.

I Got My Mind on My Money, and My Money on My Mind Phone …

Since Apple launched Apple Pay, there’s been a lot of chatter about the future of mobile payments.  And, with its recent plans to work with UnionPay and AliPay (both Chinese payment systems), Apple intends to keep the chatter going.  This week, Apple announced that its working to allow consumers to link their Apple ID to their UnionPay accounts. This move makes it easier for Chinese consumers to purchase Apple’s apps.  As Oprah would say during the holiday season, you’re ALL getting AH-AHPPSSSS … You get an app, and You get an app … In other mobile payment news, Snapchat is working with Square on a new payment feature called SnapCash. This new feature will allow SnapChat users to quickly message funds to each other.

The Streets Are Talkin’


Did you get my Facebook ping? Facebooking at work may soon be safe.  The social network is reportedly gearing up to offer its services at work via “Facebook@Work.”  This new service will allow people to group chat at work but also work jointly on projects and documents.

You’ve been summoned. And by “you,” we mean Twitter and Facebook.  According to reports, Russia is requesting to meet with the Internet companies to discuss the country’s new laws basically requiring government registries for bloggers and also that Internet data about Russian residents be kept within the country’s borders.

Alibaba keeps making moves. The Chinese e-commerce company now wants to get into the movie making business with Hollywood. It has plans to be a major player in the content distribution business.  Bloomberg says the company wants to do so “by using customer shopping and viewing data” to predict what movies will be successful in the Chinese market.

Things That Break The Internet …


The verdict is still out on whether Kim Kardashian’s highly controversial, NSFW Paper Magazine pics actually broke the Internet, but it’s safe to say that LifeTime’s Aaliyah biopic and Solange’s recent wedding are definitely this week’s hot topics.

Note to LifeTime: Next time, maybe consider better casting choices – or not.  We did enjoy these HI-LARIOUS #LifeTimeBeLike memes. #WeCant #StopIt

And Solange, keep doing what you’re doing because your wedding jumper and cape and pretty much everything else about your wedding was perfection!