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.’

Virtual Skinny FinTech: Stick the Landing

Posted by The Virtual Skinny on August 14, 2016 in FinTech Edition, Newsletter 0 Comment

8.14.2016

THE SKINNY

When You Stick to the Plan …

Even though Britain said yes to Brexit, it’s still got lofty goals to be the center of all things fintech. (BTW, Brexit means that time Britain voted to leave the European Union then immediately regretted it).

When You Keep On Keeping on…

Two years. That’s how long it’ll take for Britain to exit stage left (if it actually happens). It’s also the deadline that Britain’s Competition Market Authority (CMA) is giving British banks to stop being stingy with their customers’ data.

When You Know What’s Up…

CMA is very aware that bank fees can be…excessive. Customers are paying up but aren’t getting what they deserve. Enter fintech companies. CMA is drinking the ‘fintech koolaid’ and wants banks to share customer data with fintech startups and third party apps. Bank customers must approve first of course.

When ‘Many People Are Saying It…’

CMA thinks by 2018, fintech will not only help save British bank customers money and get them better services but also earn the economy the top spot in “fintech” around the world.

When You Need to Watch Your Back…

About that Brexit thing. No one knows exactly how Britain saying ‘bye’ to the EU will play out. But, Germany’s taking full advantage. It’s on a full on recruitment mode to get fintech companies based in London to hop on over to Deutschland. Do you blame them?

WHAT ELSE IS GOING ON?

Lies, Fairytales, and Fallacies…

Chip and pin cards (we’ve covered this; those cards you dip instead of swipe) were supposed to protect us from thieves. But, it’s not as safe as you think. Payment technology company NCR just unveiled a way for fraudsters to still get at your money. Apparently, they’ve used their genius for evil to figure out how to make chip cards seem cardless. Then, it’s off to the races. Retailers are thinking, ‘more reason not to buy those EMV card reader machines.’ But, it’s not all a lost cause, even with this security flaw, chip and pin cards are still slightly safer than regular ole swipe cards.

THE STREETS ARE TALKIN’

Thanks to Square Capital aka Square’s lending business, the company’s stock is wayyy up. It should feel blessed. Square Capital doles out loans to the company’s existing merchants in exchange for a piece of merchants’ sales. It’s all love all around (for now). Merchants love that they can get loans fast (within a few days) and low default rates. Investors love it too. But, to keep growing, Square Capital will have to do something else (e.g., handing over $$$ to non-Square merchants).

The war on cash in Boston is on its way. Boston area eateries like Sweet Green, Amsterdam Falafelshop, and Clover Food trucks want to go cash-less. They’ve picked up on the trend that young people are choosing plastic over paper when it comes to payment. But, a little known law in Massachusetts makes it illegal to turn down cash. The law and how it’s enforced is all very wishy-washy. But, seems like shops are willing to take the risk.

Been Around the World, Uh Huh

India’s mobile phone game is strong (smartphones are up 220 million making it the second largest market in the world). Should be good news for financial inclusion but not so much. Not many rural and underbanked folks are using their phones for banking or payment. And, taxes for use aren’t helping. But, the Indian government won’t be giving up on this.

The Nigerian Central Bank likes to walk the road less traveled when it comes to remittances (transferring money across borders from one country to another). The rest of the world wants to cut down costs on remittances. But, no. Not Nigeria. It’s going the opposite way. No secret that Nigeria’s economy is struggling. So to ‘maintain the exchange rate’ it’s up-ing the price on remittances.

In other news dealing with the continent, the Brookings Institute (U.S. think tank) says more regulations protecting consumers will help grow financial inclusion and innovation in countries like Kenya, South Africa, Uganda, Rwanda and Nigeria. Interesting since, a lack of banking regulations is a major reason money transfer service M-PESA is a success in Kenya …

Australia’s postal service is looking to the future. It’s looking into applying blockchain technology to the mail – mainly for identity reasons.

Virtual Skinny: Get the News While Well-Rested…

Posted by The Virtual Skinny on February 16, 2016 in Internet & Tech, Newsletter 0 Comment

2.16.2016

Good to Know: Make sure not to change the date on your iPhone to January 1, 1970. Unless of course, you want to destroy it. You’re welcome!

THE SKINNY

Beep, Beep …

Unlike in Europe, carpooling hasn’t really been a thing in the U.S. But, could that be changing?

Not Feeling It …

Americans aren’t into sharing a car ride with others. Only about 10% of U.S. commuters are doing it these days. One reason? Gas is cheaper in the U.S. than in other area. Oh, and no one in the U.S. has managed to come up with a bomb app to get people into carpooling.

Trying to Make ‘CarPooling’ Happen …

New startup Scoop wants to be the go-to app for carpooling. It’s launched in San Francisco (for now) and is working with companies in the Bay Area whose employees aren’t close to public transit access. The idea is that these apps can take out the uncertainty with carpooling by taking care of the logistics planning and money transactions in advance. Unclear whether Scoop can help turn American attitudes around about carpooling especially since oil prices are at an all time low.

WHAT ELSE IS GOING ON?

When Your Current Mood is Damage Control …

Fantasy sports websites FanDuel and DraftKings are still reeling from the alleged insider trading scandal that happened last year. After the media frenzy followed by the companies’ fallout with states like Nevada and New York, some companies that process payments for the sites decided it was time to go their separate ways. T o stop the bleeding, both companies are leading the charge at the Fantasy Sports Association to influence state lawmakers across the country. The group is unleashing an army of lobbyists to push states to pass laws that in part protect fantasy-sports operators. #FullCourtPress

When You’re Trying to Drum Up Support …

Nigeria’s economy is going through it right now. The country’s government put out some new monetary policies to try to save face, but these policies aren’t working as planned. Foreign reserves are depleting, and the government is look for ways to turn things around. So, the government is now turning to Twitter to encourage Nigerian citizens to do their part. The idea is that if Nigerians buy locally, then that’ll help restore some value in its currency (the Naira) and also help boost the economy. Some people are all for it while others say that local options need to be just as quality as foreign imports. Also, there’s chatter about how Nigeria needs to look beyond the social media campaign and make the country more business-friendly. #BuyNaijaToGrowTheNaira

THE STREETS ARE TALKIN’

Apple Inc. is getting into original content. Who knew that it’s first foray into content was Drake’s ‘Hotline Bling’ music video? The company apparently had a role in its production and shelled out some cash to release the video via its streaming service. Up next? Its first original TV show with Dr. Dre.

If at first you don’t succeed, dust yourself off and try again. And, that’s exactly what Google did with Project Loon, its attempt to use balloons to bring wi-fi to remote areas. The company is planning a test run in Indonesia.

Making moves … Twitter’s former News Manager Mark S. Luckie is headed over to Reddit as its first-ever head of journalism and media.

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

Posted by The Virtual Skinny on February 3, 2016 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: Just One of Them Days…

Posted by The Virtual Skinny on November 18, 2015 in Internet & Tech, Newsletter

11.18.2015

Good to Know: “Where is the opportunity? The opportunity always lies where people worry.” – Jack Ma, CEO of Chinese Internet company Alibaba, during a sit down with U.S. President Obama on why his company will prop up startups trying to prevent climate change. Also, just some solid advice for your next venture …

THE SKINNY

When Will It End?

Last night, a bombing went down in the city of Yola in Nigeria. It claimed about 31 lives and injured 72 others. No one knows who’s responsible just yet, but Islamist militant group Boko Haram is no stranger to the area.

Making Good on Your Promise …

Earlier this week, we told you that people had a lot to say about how the general media covered the Paris attacks in comparison to the Beirut bombings, which both happened last week. Facebook came under fire for ‘perceived Western bias’ because it launched its “Safety Check” after the Paris attacks but didn’t do the same for Beirut. Facebook promised to change its policy and said it would activate that feature for human disasters moving forward. The social network delivered. It launched “Safety Check” for Yola residents to show that the company “cares about all people equally.”

Raising More Questions Than Answers …

FB has come a long way from its debut ten years ago. These days, it’s taken a massive role in how people interact and keep up with each other. The company is on a mission to bring Internet access to everyone around the world. With ‘Safety Check,’ it raises questions of FB’s social responsibilities (e.g., Will the feature be applied uniformly across the world? Or, does it require a tailor-made approach for different regions? And, how will FB define what ‘safe’ means? Lots of questions but no answers.

WHAT ELSE IS GOING ON?

Putting Plans Into Action …

There’s just a lot going on at Facebook. When it’s not dealing with serious human crises, it’s trying to outfit the world with Internet access. The social network announced that it’s entered a deal with telecom company Airtel Africa to bring basic Internet access aka ‘Free Access’ via its Internet.org initiative. Seventeen African countries will reap the benefits of this deal including countries like Burkina Faso,Chad, Gabon, Madagascar, Niger, Nigeria, Republic of the Congo, Sierra Leone and Uganda.

**Don’t Give Up … Don’t Ever Give Up …**

Google tried to get into the social game with its Google Plus service to compete with the likes of Facebook. It didn’t quite work out. Rather than throwing in the towel, Google went back to the drawing board and did a complete redesign of the feature. It’s now geared towards a “mobile first” experience and focused on ‘Communities’ (where people with similar interests can virtually gather) and ‘Connections’ (a place for virtual scrapbooking). It’s sort of a cross between Facebook and Pinterest. Interesting …

If You Can Make It There, You Can Make It Anywhere …

Hell hath no fury like a NY Attorney General (AG) scorned … The AG is not letting up on fantasy sports sites FanDuel and DraftKings. The AG’s office filed an injunction (order issued by a judge to prevent someone or an entity from starting or continuing to engage in certain activities) against both sites. The 35-page report rips into the sites’ arguments on why they should not be considered online gambling sites. FanDuel ( which has already stopped accepting contest entries from NY residents) and DratKings aren’t the only ones that should be worried. The jig is up for Yahoo. The Internet vet runs its own fantasy sports service and has done so long before FanDuel and DraftKings even existed. Yahoo isn’t officially part of the investigation just yet, but the AG is watching. The relevant parties head to court next week (November 25).

THE STREETS ARE TALKIN’

Flu shot season is in under way, and ride-hailing app Uber is taking away your excuses. This Thursday, the company’s re-launching its UberHealth to bring those dreaded flu shots to your desired location.

On a side note: NY taxi drivers are still peeved at Uber and plan to sue New York City and its Taxi and Limousine Commission. The basis of the suit? Violating their right to pick passengers up street-side.

Amazon’s Black Friday kicks off this Friday (November 20). See here for how to properly secure your Amazon.com account information. It’s called two-factor authentication. Don’t worry … It’s pretty straightforward.

Boards of tech companies are including more women (it’s up to 18.3% in 2014 compared to 13.7% in 2010). But, tech still falls behind other industries on gender diversity. If we talk about it enough, then things have to change, right?

Mobile payments Square is set to announce its long-anticipated IPO price today. The thing is, we already know that the price will be discounted from what people originally expected. Unicorns (aka private companies worth a billion dollars or more) are watching this closely.

You can make a few extra bucks by selling some of your photos via apps like EyeEm and Snapwire.

German company Jobspotting GmbH, competitor to professional network platform LinkedIn, is looking for funds to get into the U.S. market.

Ride hailing company and Uber rival, Lyft says it needs $500 million.