10.7.2015
Good to Know: Dorothy was right. There really is no place like home. Ex-NSA contractor turned whistleblower Edward Snowden is prepared to return to the good ole U-S of A to do some prison time. Snowden says he’s made this clear to the U.S. federal government and is still waiting on a response.
THE SKINNY
put me in, coach!
This week’s alleged insider trading scandal involving fantasy sports websites FanDuel, Inc. and DraftKings, Inc. has caught the New York State Attorney General’s (AG) attention, and he wants to know what the deal is with these companies’ employees.
Have Your Cake and Eat It Too …
At least one employee, DraftKings’ Ethan Haskell, missed the memo that you can’t do that. Haskell said he messed up recently when he prematurely released internal data regarding NFL games. This would’ve probably been cool except we later found out that he made $350K that same week when he placed a bet on competitor site FanDuel. Now, people want to know whether it’s fair to allow employees to participate in competitors’ services given what they know from their day jobs. Both companies denied any wrongdoing, but the NY State AG sent a letter to both companies saying that this episode has “raised[d] legal questions [of] fairness, transparency, and security.” The AG is requesting information on company employees (including Haskell) and wants answers by October 15.
Things Are About To Get Real …
Online fantasy sports is a multi-billion dollar industry that has managed to fly under the radar and avoid regulation unlike online poker. But, many people are starting to think that this is no bueno. Industry pros, who have made millions playing fantasy, think that the industry would benefit from oversight and just better industry practices. One pro Corey Albertson says companies should focus on hiring professional people who simply want to offer quality service rather than betting on games themselves (#ShadyShade). U.S. Capitol Hill is watching, and some Members of Congress are outraged. New Jersey’s Senator Bob Menendez even wants the U.S. Federal Trade Commission to launch its own investigation. Meanwhile, professional sports leagues and individual teams are watching how things unfold.
WHAT ELSE IS GOING ON?
Going local…
European privacy advocates are happy. U.S. companies, on the other hand, not so much. Remember the European Court of Justice decision, we told you about? No? Here’s a quick reminder. Companies, particularly those offering cloud based services like Amazon and Google, are shelling out money to build more data centers located in Europe. But, this will likely pay off in the long run as having more local operations could help avoid legal trouble down the road.
THE STREETS ARE TALKIN’
Microsoft announced its first ever laptop called the Surface Book. We’re talking 13.5-inch display complete with 6 million pixels and a 5-point multi-touch “precision” glass trackpad. Who’s buying?
Pandora and ticket vendor for small-scale music venues Ticketfly just finished a $450 million deal.
Reddit’s expanding with a new standalone service – a news site called UpVoted. The site will feature original stuff from its editorial team.