Tech

The Virtual Skinny: One Day At A Time …

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

11.3.2015

Good to Know: Looks like Facebook’s Virtual Assistant for Messenger aka “M” can do almost anything. Weather updates? Finding tickets? You got it.  The technology behind “M” is still developing so things are looking pretty good …

THE SKINNY

Everyone Loves A Good Surprise … 

On Monday, e-commerce company Amazon announced that it’s changing up company policies for new moms and dads.

family first … 

Previously, paid paternity leave didn’t exist at Amazon while new moms had eight weeks to be with their new bundle(s) of joy.  Amazon thought things over and extended its maternity leave to 20 weeks.  New dads now get 6 weeks off.  Beyond that, Amazon is also offering parents a flexible return to work program so that employees can have more choice in planning what works best for their families.

Why Now?

CEO Jeff Bezos never wanted Amazon to have that “country club” type feel. But, it’s hard to stay a certain course when competitors are increasingly offering robust benefit options. Also, in the not too distant past, the New York Times published a less than flattering review of Amazon’s company culture. The company denies that article having any impact on its decision.  A rep said the company routinely reviews its policies and started looking into its leaves policies earlier this year.

Oh, One More Thing …

Amazon also announced that its opening a physical book store.  The new store called Amazon Books opens today in Seattle and will feature about 5,000 book titles.  The company’s tight-lipped on any future plans and remains focused on this single store…. for now.

WHAT ELSE IS GOING ON? 

Whatchu Talkin’ Bout, Willis? 

Late last week, we heard reports that Google planned to phase out Chrome OS, the operating system behind its Chromebook laptops, by merging it with the Android mobile operating system. Turns out this may not be true. Yesterday, Google’s Senior Vice President Hiroshi Lockheimer, who oversees both operating systems, published a blog post denying almost everything.  He says Chrome OS is here to stay and pointed to Chomebrook sales in the education market and its use by corporations like Netflix, Sanmina, Starbucks to make his point.  Also, Lockheimer says that the new Google Chromecast runs on a variation of Chrome OS. In other words, nothing to see here, folks.

When You See A Rare Sight … 

Google co-founder and CEO of Alphabet Larry Page doesn’t say much publicly these days, partly due to a medical condition.  But, Page recently made an exception to talk China, Project Loon, and Alphabet.  On the topic of China, Page admitted he typically punts questions about China to new Google CEO Sundar Pichai. He simply said “we’d like to do more.” Page is pretty amped about Project Loon and bringing Internet access to developing areas. Lastly, why did he and Co-founder Sergey Brin choose to set up a Berkshire Hathaway-type conglomerate aka Alphabet?  Simple. They wanted to see how far they could take an innovative company with endless resources. Anything is possible … 

THE STREETS ARE TALKIN’

When you start making money, everyone wants to be your friend.  Advertisers are drawn to Snapchat because the kids love it, it’s mobile-friendly, and it hosts tons of videos. But, now advertisers want Snapchat to tell them how their ads are doing.  One small problem: Coming up with those numbers is a work in progress for the company.

In 2017, Google plans to bring packages to your door via drones. The U.S. Federal Aviation Administration is expected to come out with final rules to help guide commercial drone use by early next year.

American Express loyalty points for AirBnB bookings? That’s a thing now.  The two companies are working together to make paying for your next AirBnB with your AmEx loyalty points a little easier.

Gaming company Activision Blizzard (Activision) just bought out King Digital Entertainment (King), makers of Candy Crush for $5.9 billion.  Both parties are pretty pleased with themselves. Activision says the purchase will better position the company when it comes to mobile, console and PC platforms. And, King CEO Riccardo Zacconi is looking forward to the company’s next phase.  Oh, and it doesn’t hurt that Zacconi’s now filthy rich …

Instagram wants to curate content for you, and it started over the weekend by pulling together users’ best Halloween videos.  Expect this trend to continue with Twitter and Snapchat already doing something similar on their platforms.

Last chance for success? This week, Blackberry is out with new smartphones powered by Android called ‘Blackberry Priv.’ The phone still keeps its physical keyboard, but there’s a touch screen overlay as well.  And, there are new features for security purposes. It comes complete with a pre-loaded app that tells you how your others apps are getting up all in your personal and location information. *Fingers crossed* 

 

The Virtual Skinny: More Time, Please!

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

11.2.2015

Good to Know: Halloween is over, which means the holiday season is kicking off. Amazon’s bringing you Black Friday deals three weeks in advance.

THE SKINNY

The Ball’s In Your Court …

To allow the class action law suit or not to allow the class action suit? That is the question the U.S. Supreme Court will consider today.  U.S. online search service Spokeo is probably hoping for the latter.

It’s Just A Technicality …

The class action case comes down to an alleged technical violation of a federal law, the Fair Credit Reporting Act. It requires that consumer reporting agencies provide accurate information; otherwise, agencies must fork over $1K per violation.  Five years ago, plaintiff Thomas Robins filed his class action against Spokeo claiming that his entry on the service was all types of wrong.  Robins had no J-O-B at the time and claimed that the incorrect entry was preventing him from locking down a 9 to 5.

Keeping An Eye Out …

Internet companies like Facebook, Google, and Yahoo are watching this case closely. They’ve had their fair share of similar lawsuits brought against them.  If this case goes in Robins’ favor, it means that users will be able to sue companies all willy-nilly without showing any actual harm caused.  Bottom line: If the Supreme Court sides with Robins, this could potentially cost companies billions of dolla dolla bills in damages.

WHAT ELSE IS GOING ON? 

When you’ve been called out … 

Last week, organizers of tech and music festival South by Southwest (SXSW) got an earful from a lot of people (including media companies and U.S. Members of Congress) when they decided to cancel two panels on harassment and bullying in the gaming world. Need a refresher?  Organizers canceled in the name of people’s safety after they received some threats.  But, many people said the show had to go on. They told SXSW to reinstate the panels or else they’d back out of the festival all together. SXSW was basically backed into a corner and now wants to smooth things over. SXSW plans to host not just a panel but an all day summit on online harassment.  Interesting turn of events …

When Things Change … 

Last Friday, the U.S. Securities & Exchange Commission approved a rule that will allow regular folks to do like the rich.  It used to be that you had to be considered an “accredited investor” to invest in private companies.  In other words, you had to be rolling in dough (either you were worth at least a milli or earned $200k or more per year).  Title III of the Jumpstart Our Business Startups Act (JOBS Act) now allows anyone and everyone to invest as much as $2k in startups, including via crowdfunding.  Equity crowdfunding shouldn’t be confused with the Kickstarters of the world.  Unlike equity-based sites, Kickstarter-type services don’t allow contributors to own a part of the funding project. Congrats, you could potentially own a piece of the next Google or Uber …

THE STREETS ARE TALKIN’ 

Hewlett Packard is now officially two companies – Hewlett Packard Enterprise (HPE) led by Meg Whitman and Hewlett Packard Co. (HP Co.) led by Dion Weisler.  While HPE will offer servers, storage and networking equipment to businesses, HP Co. will focus on your personal computer and printer needs.

The city of San Francisco is asking its residents to weigh in on what some people are calling the “AirBnB thing,” formally known as Proposition F.  If passed, Prop. F would cut down on short-term rentals, which is problematic for AirBnB’s platform.  It would also turn some neighbors into snitches, requiring people to report those who are violating the law.

Snapchat updated its privacy policy so you can understand it, but it had people scratching their heads about what Snapchat actually does with those NSFW snaps.  The company reassured us that it’s not saving your snaps on its servers.

Amazon’s officially done with Amazon Local (its daily deals biz) and Amazon Local Register (its payments processing biz and competitor to Square). Users of Local Register have until Feb. 1, 2016 to process funds, then the show’s over.

Facebook is improving on its ‘real name’ policy.  It first initiated the policy to encourage users to use their government names on the site, but it didn’t sit well with people who don’t identify with their legal names. To make things better, FB is asking for more information on people’s circumstances.

Need plans for the weekend?  Google’s new app called “Who’s Down?” may be worth checking out.

Calling all developers! Twitter is trying to mend its relationship with you and is asking for your feedback on products.

Apple TV reviews are in. While some are feeling the idea of watching TV via apps, others are struggling with how to find out what to watch on them.

The Virtual Skinny: Friday Night Frights

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

10.30.2015

Good to Know:  For many, it’s Halloween weekend.  In addition to seeing interesting costumes, you’ll likely be seeing Uber surge pricing. Northeastern University, in the U.S., figured out that 40% of surges last 5 minutes and 70% of surges are about 10 minutes or less.  The good news is you won’t have to wait too long. 

THE SKINNY

One Day You’re In, And The Next Day … 

Alphabet, formerly known as Google, is leaning towards Android operating system over Chrome OS these days.

When Two Become One … 

Chrome OS, the operating system, should not be confused with the web browser, Chrome.  Alphabet plans to merge Chrome OS and its other operating system Android into one by 2016. The first indication of this change is that Alphabet’s low-cost laptop, the Chromebook (which typically runs Chrome OS) will be able to run Android as well.  In 2017, we should see a full launch of the merged operating systems.

Why Is This Happening? 

Good question.  For one, people haven’t exactly been lining up to “cop” Chromebooks. Market research firm IDC says only 3.9 million Chromebooks shipped to the U.S. for a very specific market – academia. Meanwhile, Android is the most used operating system in the world. Android’s used in over a billion phones and devices.  You don’t have to be a business guru to know that this is probably the right move.

WHAT ELSE IS GOING ON?

Taking Things A Little Too Far … 

In the wake of the European Union Court of Justice invalidating the EU’s 15-year agreement with the U.S. on how American companies can transfer Europeans’ data across borders, Germany is going rogue.  German regulators decided that they won’t be giving the go ahead on any new transfers of personal info outside the country’s borders.  Looks like Germans are still feeling some type of way about the U.S. government’s surveillance practices. Digital Europe, a group representing businesses, says Germany’s new position is a bit much.  In fact, the group says that’s not what the other European Member States agreed to, and Germany’s decision will cause unnecessary issues like market volatility.

Shine Bright Like A Diamond … 

Professional network service LinkedIn ended its week on a high note.  The company surprised Wall Street with its stellar performance.  We’re talking 37% increase in revenues (now $779 million from $568.3 million) and $41 million in sales during the third quarter.  Its “Talent Solutions” division, targeting corporate recruiters, has a lot to do with this increase. Doesn’t look like LinkedIn plans on stopping anytime soon.  It’s pouring money into research and development and will be launching two new products — Referrals and the new Recruiter. Also, the company’s working on a re-design of its app so you can do your LinkedIn stalking in a simpler and faster way.

THE STREETS ARE TALKIN’ 

In more LinkedIn news, the company just added Herlihy as its new VP and Managing Director for Europe, the Middle East, and Africa (EMEA). Herlihy was previously the Head of Google Ireland.

Facebook’s testing out “Local Markets” so you can advertise things you want to sell or even do some online shopping in a more organized way on the site. Oh and, the company’s looking to rake in advertising dollars from emerging markets with its “Slideshow” ads.

Everyone wants in on the payments game.  Amazon is launching “Pay with Amazon” buttons on its mobile apps.

FRIDAY FUNDAY

Happy Halloween, ya’ll! Check out these “spooky” apps. Have a safe weekend, and see you back here on Monday, November 2.

The Virtual Skinny: Dig Deep

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

10.29.2015

Good to Know:  It’s National Cat Day, and Uber is making kitten deliveries to select cities in the U.S. and Canada to help raise awareness of cat adoption. 

THE SKINNY

It’s A Bird, It’s A Plane, It’s … A Balloon …

Alphabet Inc., formerly known as Google, is bringing its Project Loon to Indonesia.

What’s That? 

Project Loon is Alphabet’s way of bringing 4 billion people around the world Internet access via solar-powered balloons. These balloons hover about 16,000 feet over a particular region and rely on antennas attached to buildings to beam down Internet access. The company previously tested out the project in New Zealand, Brazil, and Australia.

Show Us Who You’re Workin’ With … 

For the first time, Alphabet is teaming up with not one but three Indonesian telecom providers including Telkomsel, XL Axiata Tbk PT, and Indosat Tbk PT.   About 16,000 Project Loon balloons will be released next year over Indonesia’s 17,000 islands. If all goes well, the project could reach about 100 million users.

What Else Is Going On?

The Glass Is Half Full …. 

First the European Union and now the U.S.  Penny Pritzker, the U.S. Secretary of Commerce, is hopeful that both economies will reach a new deal to govern how U.S. companies can transfer Europeans’ personal information across borders.  Prtizker refers to the agreement as Safe Harbor 2.0 and says that it’s “totally doable.” You know what they say about the power of positive thinking.

Honesty Is The Best Policy …  

Yahoo has had its fair of drama among its executives.  As CEO Marissa Mayer is still working on strategies to turn the company around, media reports turned up about execs abandoning ship.  Shortly after we learned about these departures, Mayer took to Twitter to let everyone know that these decisions were carefully planned.  Turns out, this may not be the case.  Some of these execs are saying that Mayer’s explanation is downright “disgraceful” and even a bit dishonest.  Reports indicate that Mayer’s management style is rather controlling, and some execs simply have better offers elsewhere.

The Streets Are Talkin’

Alphabet has got its eyes on three tech-friendly U.S. cities – Jacksonville, Fla., Tampa, Fla., and Oklahoma City, Okla. – as candidates for its next Google Fiber deployment.

PayPal’s earnings are up 29% and its revenues saw a 14% increase. The payment company’s expanding Venmo beyond people being able to send money instantly to their friends.  Paying with Venmo at any PayPal merchant is coming soon. 

Bitcoin startup investor Digital Currency Group announced that it will be more careful when it comes to investing in those startups.  Increased compliance costs associated with starting a bitcoin company and potential difficulty raising money during Series A rounds from venture capitalists are to blame.

French music service Deezer says things are rough in the markets and won’t be moving forward with its initial public offering plans.

Snapchat’s out with a new filter called “Speed Modifiers” to either slow down, fast forward, or rewind your videos.

And, Mark Zuckerberg wants to do something about those annoying Candy Crush invite notifications on Facebook.

The Virtual Skinny: From Coast to Coast

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

10.28.2015

Good to Know: Who are you wearing? Amazon.  The e-commerce company may release its very own clothing line. 

THE SKINNY

When No One Likes You … 

Yesterday, the U.S. Senate passed the Cybersecurity Information Sharing Act (CISA), and pretty much everyone hates it.  For tech companies, Internet companies, and people who want to protect your online privacy, it’s “all hate, all shade.”

What’s gOING On Here? 

The legislation is intended to better prep the U.S. government against cyber attacks. How? Well, the government’s telling U.S. companies that its got their backs if they voluntarily pass along cyber-threat data to Uncle Sam on the low.  You’d think this would be a good thing for companies, but not so much.

I’ve Got 99 Problems And CISA Is One … 

The approval of CISA basically puts tech and Internet companies between a rock and a hard place.  CISA will expand the U.S. government’s surveillance practices without doing much to protect against cyber attacks.  Perhaps, CISA’s opposers would be able to stomach it had a certain someone (*cough* ex U.S. NSA contractor Edward Snowden *cough*) hadn’t told everyone and their moms about the U.S. government’s surveillance practices.  U.S. businesses, particularly tech and Internet companies, went THROUGH it after the revelations.  People, including important markets like Europe, called foul.  They want the U.S. to clamp down on surveillance practices and better protect people’s online privacy.  CISA won’t make things easier.

What’s Next?

Well, the U.S. House of Representatives (House) already passed a similar bill. So, the Senate and the House need to work some things out to reach a final bill for President O’s signature.  It’s hard to say how much this will impact tech and Internet companies.  But, it’s not great, especially since the U.S. and Europe are trying to work out a new agreement for how U.S. businesses can transfer Europeans’ data across borders.

What Else Is Going On?

We Don’t Respond To Threats … 

Vox Media and BuzzFeed are ready to sit out next year’s South by Southwest (SXSW), an annual Austin, TX festival bringing together techies and music lovers.  “South by” planned to host two panels on the topic of bullying and harassment in the gaming world.  Citing safety reasons, organizers later backed away from the idea after threats were made. The irony!  Media companies and even Members of Congress are calling for SXSW to handle its biz and reinstate the panels. SXSW heard people out and are working with law enforcement to see what it can do.

Guess Who’s Back, Back Again?

Facebook’s Mark Zuckerberg is back in India. It’s all to continue his efforts in getting the “next billion” online and reducing global poverty while he’s at it.  On his trip, he’s stopped by the Indian Institute of Technology for a little chat with 900 students.  Meanwhile, FB wants its employees to know what it’s like to have access to a more basic, slower version of the Internet we know and love. Employees will get the experience via what the company’s calling 2G Tuesdays as in here’s what the Internet’s like for many people in developing areas.  Apparently, the experience isn’t fun so FB’s limiting the experience to an hour. #FirstWorldProblems

The Streets Are Talkin’ 

The European Union gave its net neutrality legislation a thumbs up with no additional changes.  Cue the outcry from net neutrality advocates.

More quarterly earnings report cards are in.  Apple is the kid who made the Honor Roll.  The smartphone maker posted great numbers. Thanks to iPhone sales (48 million sold), it’s profits went up by 31 percent. 

Twitter, on the other hand … Struggled. It’s having a tough time bringing more people into the Twitter-sphere. 

 

 

 

The Virtual Skinny: Money, Money, Money …. MON-NAY!

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

10.27.2015

Good to Know:  Looking for holiday gift ideas? Forget clothes and the latest tech gadgets. What about gifting someone an investment? Startup SparkGift  is working on that. 

THE SKINNY

I got my mind on my money and my money on my mind… 

Banks, Internet companies, and tech companies don’t want you messing around with cash or even your credit card the next time you make a purchase.  At this year’s Money 20/20 conference, bank JP Morgan Chase (Chase) and Internet vet Google made two huge announcements.

Are You Going To Tell Me Or What? 

Chase just launched its own mobile wallet, Chase Pay.  Google, on the other hand, debuted Android Pay (its upgraded version of Google Wallet) this past September and is looking to get more people like you to use it via loyalty rewards programs.

Ok? Go On …  

Chase Pay works a little differently from Android Pay and other mobile payments.  Rather than tapping your smartphone to pay, you’ll display a QR code at checkout. Or, you can pay by just taking a picture of your bill according to a demonstration video. Chase Pay should work with most iPhones and Droids.  Back to Google:  Its Senior Vice President of Ads & Commerce Sridhar Ramaswamy wasn’t exactly forthcoming with details about the two-month old Android Pay.  But, we do know that there are about a million account holders. Google is teaming up with Coke on a rewards program.  The Internet company’s looking for other companies to work with to up Android Pay usage.

random fact …

Millennials (18-34 year olds) apparently can’t live with out banking apps, which came in second only to social media. The source? Market research firm Chadwick Martin Bailey and venture capital firm Foundation Capital.

WHAT ELSE IS GOING ON? 

You Know What Happens When You Assume Things … 

Austrian Max Schrems may be wrong about his prediction that the U.S. and European Union (EU) won’t be able to reach a new agreement on how U.S. companies may legally transfer Europeans’ personal information across borders.  Schrems played a key role in the EU Court of Justice throwing out a 15-year old agreement to allow for just that. The court basically said that the U.S. is all up in Europeans’ private info and has zero chill when it comes to Europeans’ privacy. But, things may be moving in the right direction. The U.S. and EU have agreed in principle on a new framework.  There are some things to work out though (e.g., setting boundaries on the U.S. government in how they access Europeans’ data). No deadline yet on when a new agreement will be reached. Baby steps … Meanwhile, Schrems still says the EU can’t get the job done.

Hold Up, Wait A Minute …

Investors are putting the brakes on handing out cash to bitcoin startups.  Things have definitely cooled off since earlier this year when investors showered bitcoin startups with $373 million. Two potential reasons: (1) They are waiting to see returns on their investments since some startups have already gone bust; (2) The virtual currency bitcoin’s price is pretty volatile and has gone down by almost 10 percent since the start of the year. Basically, bitcoin has lost it’s “cool factor” to the blockchain – the underlying technology behind bitcoin that let’s people see exactly how their virtual coins are spent.

THE STREETS ARE TALKIN’

Online marketplace for artists and crafters Etsy is getting into on-demand delivery. Say hello to Etsy ASAP. It’s starting with the NYC area. Same day and next day delivery for 20 bucks.

Dear Upstate NY College Students, We know you work hard and party harder. Let’s get you home safe.  Love, Uber.  Uber is focusing on its designated driver role as it looks to expand into the upstate NY area.

Someone hacked UK telecom company TalkTalk. Irish police arrested a 15-year old boy who is allegedly responsible (at least in part). 

In more UK tech related news … Oxford is besting Cambridge in number of investments poured into startups coming out of each institution. 

Wrap it up … Payments company Square is still losing money. Chinese Internet company Alibaba is the comeback kid on Wall Street.  All eyes are on Twitter and Apple today.

The Virtual Skinny: Here We Go, Again…

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

10.26.2015

Good to Know:  Just a reminder that we’re out in Vegas this week for Money 20/20, a huge financial services conference.  Financial technology (aka FinTech) is all the rage. Follow us on Twitter to see what’s going on: @virtual_skinny. 

THE SKINNY

Get On Board… 

Facebook CEO Mark Zuckerberg’s Internet.org has some convincing to do. The initiative, which is intended to bring online some 4 billion people, is facing some roadblocks in India.

What Do You Mean? 

Internet.org has to convince Indian cellphone shop owners to sell the FB’s free Internet service package via local mobile carrier Reliance Communications.  Couple of issues with that: (1) some shop owners are not quite sure what Internet.org is and (2) there’s a general consensus that Reliance Communications isn’t that…reliable.

We Want More…

For those who have accessed it, Internet.org’s free service offers news articles, health and job info, and basic, text-only version of FB. The project says it offers simple versions of services to introduce those who have never been online before to the Internet.  It also wants to cut down on data use and costs to the phone carriers. But, it looks like Indian citizens want more than basic access.  Also, there are some complaints that Internet.org is just a ploy for FB to grow its user base.

CHARM OFFENSIVE…

The Zuck isn’t deterred by some of the criticism and continues to build relationships with India. The company has heard what people have to say and is willing to make changes to the Internet.org initiative – namely, allowing other companies to get in on the free service game.

WHAT ELSE IS GOING ON?

When Things Could Seriously Go Left … 

The European Union is voting tomorrow on it’s net neutrality (NN) legislation, and people are very worried.  Well, the word is that the legislation has some issues. If the legislation passes, it would allow certain entities to pay for faster delivery of their services to consumers, which many NN advocates says goes against the very concept of keeping the Internet free and open. It could mean higher prices for consumers to access services. And, small businesses can forget about trying to compete with the big boys because they simply won’t be able to afford it. Other things people are worried about? Zero-rating, which is basically what Internet.org is doing in India. There’s hope that changes to the bill before it’s voted on can fix these issues …

The blue or red wire? 

Russia recently parked submarines and spy ships by hard to reach, undersea data cables. The U.S. military has its eye on this because it thinks that in the event of a conflict, Russia may literally pull the plug on these cables. Well, it’d be more like cutting the cable. Regardless, depending on which cable, this could mean no Internet access for some countries (even those involved in a potential conflict).  No word yet on whether this is a real or empty threat …

THE STREETS ARE TALKIN’

Yahoo live-streamed its first ever National Football League game (Buffalo Bills played the Jacksonville Jaguars in London).  Though definitely not seamless for some viewers, it looks like overall the live stream turned out well for everyone involved. Well, maybe except the Bills…

Voice controlled smart speaker Amazon Echo or “Alexa” now lets U.S. users get info about local restaurants, shops, etc.  Amazon has integrated Yelp into the device. 

The new James Bond movie is out next month, and Snapchat’s got what went down behind the scenes..

No one likes a fake review. Restaurants, food writers, and diners are taking to Twitter to express their frustration. They want TripAdvisor to handle the “fake review” issue on its site.  The hashtag that’s trending is #noreceiptnoreview . In other words, these businesses want the travel and recommendations site to only permit posts from commenters who submit scanned copies of their receipt from the place they are reviewing….

The Virtual Skinny: Celebrate Good Times

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

10.23.2015

Good to Know:  We know you were all wondering how Drake came up with those moves that caused the Internet to go nuts this week.  Looks like Drake wasn’t choreographed and free-styled the whole thing. We’re having mixed feelings about this. It’s Friday.  Enjoy the fruits of the Internet’s labor. 

THE SKINNY

When Something’s Not What You Think It Is … 

With Uber and other sharing economy companies like AirBnB, Lyft, Thumbtack, etc. on the rise, there’s been a lot of chatter that the U.S. economy is turning into a ‘gig economy.’ In other words, more people are turning to self-employment than not.  But, the Pew Research Center (Pew) says not so much. 

Time for A Reality Check … 

Pew looked into it and found out that the number of people who say they are self-employed is actually on the decline.  Its report gets into demographic details and how many jobs self-employed people create but shies away from the question of why the ‘gig economy’ isn’t widespread.

It’s All About Timing … 

The ‘gig economy’ probably isn’t as widespread as people think it is for a couple of reasons. First, there just aren’t that many Ubers of the world.  And second, independent contractors have always been more fitting for certain industries. It’s just that now, companies are being created to better connect people who need a particular service with those who offer them. But, who knows?  It could be just a matter of time …

WHAT ELSE IS GOING ON?

Haven’t You Done Enough? 

Austrian Max Schrems is doing the most.  Schrems already scored a major “W” by kicking off a series of complaints that ultimately prompted the EU Court of Justice to invalidate a 15-year agreement between the European Union (EU) and U.S.  The agreement, known as the U.S.-EU Safe Harbor, allowed U.S. companies, including Internet companies, to transfer Europeans’ personal information from the EU to the U.S. as long as they followed certain rules.  As both economies try to hash out a new deal, Schrems is pretty confident that it’s not going to happen.  Why?  He says the U.S. would basically have to agree to end mass surveillance, which he thinks probably won’t happen. It’s like throwing salt on an open wound …

THE STREETS ARE TALKIN’

Google, Microsoft, and Amazon are killing the game on Wall Street.  Here’s how:

Twitter’s Jack Dorsey is in a giving mood.  Dorsey plans to give a third of his company shares to employees. Hopefully, this should do a lil somethin’ somethin’ for employee morale post the company’s recent layoffs.

Starting today, you can search all of FB’s 2 trillion posts.  The social network wants you to know what people are talking about on FB in real-time. This new way to search will allow you to see what your friends (and strangers) are saying about a trending topic.

The Virtual Skinny: Come Fly With Me…

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

10.22.2015

Good to Know:  Next week, we’ll be at Money 20/20, a huge financial services conference with big names like PayPal.  FinTech is on fire right now, and we’ll be right there keeping you in the loop via our tweets.  Twitter handle: @virtual_skinny  

THE SKINNY

WHEN YOUR RELATIONSHIP STATUS IS “IT’S COMPLICATED…” 

Twitter CEO Jack Dorsey is trying to make things right with the company’s outside app developers.  He issued a very public apology.

Getting Back On Track … 

Dorsey admits Twitter has had a complicated relationship with developers and wants a “do over.”  Basically, under Twitter’s last CEO who will remain unnamed (*cough* Dick Costolo), the company put strict rules on what developers could and couldn’t do. Why? Mainly because Twitter was becoming almost like a free for all, and we were seeing all sorts things that were taking away from the platform’s user experience.  But, some cool things came out that time too (e.g., ability to post pics to Twitter and shorten links you want to share).

You Help Me, I Help You … 

Twitter is trying to mend relationships by offering new tools to lure developers back to the platform.  In a nutshell, developers making cool things brings more users to Twitter.

WHAT ELSE IS GOING ON? 

Everything’s Gonna Be Alright … 

For a while there, people were worried about eBay after it separated from PayPal.  But, the online marketplace saw a 9% spike in its stock price after reporting third-quarter earnings amounting to $539 Mill. Revenues came in at $2.1 billion.  eBay says it “can’t stop, won’t stop” bringing its A-game. Next, the company says it’ll offer better tools to its top sellers for them to better manage inventory and customer returns.

Seeing Red … 

It’s been a long time coming. Online video platform YouTube just introduced us to Red, its new subscription service.  The company’s Chief Business Officer Robert Kyncl says more and more people would rather pay up than sit through ads when watching online content. Google’s YouTube wants to make you happy. So for $10/month, you can watch your fave videos ad-free. It’s also getting into original programming with YouTube Originals.  You can expect reality shows like “Scare PewDieDie” where the Swedish YouTube star (whose government name is Felix Kjellberg) will be put in precarious situations. As the name suggests, we assume he’ll be scared most of the time.  Media companies such as Time Warner, NBC, and Fox will be offering up programming as well.  Watch your back, Amazon and Netflix…

Stealth Mode … 

Balaji Srinivasan, CEO of bitcoin startup 21, says the underlying technology behind virtual currency bitcoin, known as blockchain technology, is going to change things up in a big way.  Blockchain technology is used to track how every single Bitcoin user is spending their virtual coins. Basically, it’s just a big ole’ ledger that anyone using Bitcoin can see. Srinivasan says blockchain technology usually flies under the radar but has potential to be a game changer in how we pay for stuff. He says there’s no stopping the technology once it starts being included in our devices. We’ll see… 

In Other Bitcoin-Related News …

The European Union (EU) decided that for tax purposes, bitcoin should be treated as “real” money. And for bitcoin exchanges that convert “real” money into the virtual currency, they’re not on the hook for taxes. 

THE STREETS ARE TALKIN’

Crowdfunding platform Indiegogo just launched a new site, Generosity.com, for all non-profits seeking to raise money. It’s for your personal fundraising efforts too.  Unlike its main site, Generosity.com won’t be charging fees for campaigns.

Vietnam’s government is testing out its very own Facebook page called “Government Information.”  From press releases about government policies to pics of its Prime Minister meeting with foreign leaders, the government is using the page to make sure its young people are aware of what the country’s doing. But, Vietnamese citizens should take note, don’t get too crazy with your FB comments about the government because it’ll likely be deleted. 

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.

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