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The Virtual Skinny: Time Flies!

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

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.

The Virtual Skinny: Hello, Weekend!

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

10.9.2015

Good to Know:  It’s a long weekend (note: in the U.S., Oct.12 is Columbus Day).  No worries … We’ll be back on Tuesday, October 13! 

THE SKINNY

Pointing Fingers …

Someone hacked Uber’s system, and the ride-hailing app thinks Lyft (its U.S. nemesis) did it.

You’d Better Be Able to Back It Up … 

Someone accessed Uber’s system and downloaded up to 50,000 drivers’ names and license numbers.  Uber admits this probably all went down because an employee inadvertently made a security key code publicly available by posting it to GitHub, a website programmers use to trade code. Thanks to a Comcast IP address, Uber thinks Lyft’s Chief Technology Officer Chris Lambert is their Public Enemy #1.  The company can’t be too sure since the person’s identity is unknown.

Ok? Now What?

Uber won’t stop until it gets to the bottom of this.  Since it can’t identify the person, the company filed a “John Doe” lawsuit and got Comcast involved.  Uber convinced a federal judge to order Comcast to turn over records on the mystery subscriber.  Attorneys for the subscriber are appealing the decision to avoid any potential “embarrassment and reputational harm” that could result from a reveal.  Based on GitHub’s records, Uber’s targets could be any of four groups, including the Comcast IP address.  Investigators think the Comcast subscriber has a history of trying to scrape Uber’s website for driver data and also believe that other databases show that the IP address links to Lambert.   Lyft’s spokesperson said “no way, Jose” because Uber has no real evidence.

WHAT ELSE IS GOING ON? 

Onwards and Upwards …

Despite its legal drama with Uber, Lyft is making some important business moves.  The company is partnering with Hertz Global Holdings to rent SUVs out to potential Lyft drivers.  Stats show that over 60 million people over 25 years old in the U.S. don’t own a car.  So, car rentals may be the answer to get more drivers into Lyft’s network. The Lyft-Hertz agreement includes discounted rates for Lyft drivers. Here’s the rental price breakdown: a standard SUV – $25/day, $150/week or $540/month;  a premium SUV -$65/day, $390/week and $1,400/ month.  And in other good news for Lyft drivers, the company is launching its Express Pay service next month, which means same day payments for drivers.

Had I kNOWN … 

Earlier this week, we learned that fantasy sports websites FanDuel, Inc. and DraftKings, Inc. went into full on damage control after getting some unwanted attention, particularly from the New York State Attorney General, after news broke of potential insider trading by one of DraftKings’ employees.  Both companies banned their employees from competing in their daily contests for money and also brought in seasoned legal teams to get their houses in order.  But, as they say, things will get worse before they get better. Fantasy football player Adam Johnson who frequents both websites just filed a class action lawsuit against FanDuel and DraftKings.  Johnson says he put 100 bucks into his DraftKings account but wouldn’t have done so had he known that a company employee may not have been playing fair.  The damages Johnson is seeking have yet to be determined.

THE STREETS ARE TALKIN’

Uber is in a fighting mood. São Paulo’s  Mayor Fernando Haddad banned the service in his city recently but later came up with a proposal that would allow Uber to operate legally. The proposal involves things like Uber admitting that it’s a “black taxi,” all Uber cars must painted black, and cars must be less than 5 years old.  Not to mention, fees would apply. Uber said no thanks since it’s not a taxi service.

Price goin’ up!  Netflix’s new users will be on the hook for a dollar more in fees.  The streaming service’s price just went up to $10. No need to worry existing customers, your monthly fee will remain the same — for now.

Payment company Stripe just brought on Will Gaybrick as its new Chief Financial Officer. Gaybrick was previously an investor and software engineer with a law degree. Stay in school, kids.

Pinterest engineer Makinde Adeagbo wants to do his part to solve tech’s diversity problem. He just founded a non-profit to help connect black engineers with the resources needed to jumpstart their careers.

Next time you’re at your local KFC, Starbucks, Chili’s or Best Busy just know that using Apple Pay is an option.

Facebook’s David Marcus says messaging is the wave of the future.  Given how well things are going in Asia with other messaging apps, we could see FB Messenger grow into a full-blown business complete with peer-to-peer payments and the ability to connect directly with businesses.

The Virtual Skinny: Spring Is Springing?

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

3.17.2015

Good to Know:  SxSw is in full swing, and tech companies are naturally making big announcements from Yahoo’s on-demand passwords available only in the U.S. to the premiere of “Steve Jobs: The Man in the Machine” documentary.  Too many cool things, we can’t even stand it!  

THE SKINNY.

It’s Finally Here … 

Last week, the Federal Communications Commission released its long awaited Open Internet rules.

Maybe Legal or Maybe Not? 

For weeks, we’ve all known that the 313-page Order would go into detail on three rules – no blocking, no throttling, and no paid prioritization.  In other words, Internet service providers (ISPs) may not block access to lawful, online content or services.  ISPs will also not be able to slow down Internet traffic to certain types of content.  And lastly, ISPs cannot be monetarily compensated to permit faster access to particular types of content, services, and applications.  While we’ve been expecting these rules for several weeks, the Order also raised legal uncertainties that are open to various interpretations.  One particular section under scrutiny is the “just and unreasonable” provision.

Anything You Can Do, We Can Do Better…

Well, now that the Order is out, the Republican led U.S. Congress is set to grill the Commission’s Chairman Tom Wheeler in a number of hearings this week.  Expect questions about how the Order evolved from a hybrid approach to its current state, particularly since the change happened soon after President Obama’s endorsement of Title II.  Congress thinks it can do better on net neutrality rules.  As they say, only time will tell.

What Else Is Going On This Week?

2015 = The Year of Apple?  

Last week, we predicted that April would be an Apple takeover but now this may just extend the full year.  According to media reports, Apple is planning on launching a TV streaming service this September.  The tech company is said to be in talks with Walt Disney and Fox but no so much with NBC given its current rift with Comcast, NBC’s parent company.  This streaming service is likely to drive sales of its hardware products – iPhone, iPad, Apple TV to name a few.

It’s Not All Good News … 

Though Apple Pay debuted with a bang, banks who were once singing its praises are now not so privately complaining about the service.  Banks are complaining about increased fraud rates, but industry experts say it may not be all on Apple Pay but the banks have something to do with it.   The vulnerabilities in the system seem to be happening because Apple Pay’s “onboard” system is kept deliberately simple, requiring basic credit card information.  In turn, the banks chose not to take extra security precautions nor did it require Apple to offer more detailed customer information.

Should I Post This on My FB?

The social network is clarifying its policies on what content it may remove if its deemed too sensitive (e.g., nudity, terrorism, hate speech).  In justifying this clarifications, FB’s Chief Mark Zuckerberg says the company is simply complying with “lawful government orders” to remove certain types of content.  FB also released new data on government requests to remove content, and the numbers in the latter half of 2014 decreased for the earlier part of last year among Western countries.

The Streets Are Talkin’

Are you sick of hearing about all things Apple?  Well, we promise this is that last mention for the week, but rumor has it that the company is working on a car project.  Code name – Titan.

Uber’s Chief Financial Officer Brent Callinicos is stepping down.  Nothing controversial from what we gather.  Callinicos just wants more family time with his wife and kids.

Pinterest just got a huge influx of cash.  The only scrapbooking service is now valued at $11 billion after raising $367 million in its latest round of financing.