11.13.2015
Good to Know: Google’s new “About Me” page lets you see exactly what’s being shared about you publicly by the site. You can control what you don’t want people to see. Happy Friday, ya’ll!
THE SKINNY
Just A Question of When …
A few months back, the U.S. Federal Reserve (Fed) opted to keep interest rates low (near zero); but come December that will change. Rates are expected to increase.
Ok, And?
Since it’s pretty much a done deal that interest rates will go up next month, people are looking at if and when it’ll go up a second or a third time. The Fed is cautious because the economy’s still weak.
What Does This All Mean?
If we take a look back, reports told us that for regular folks, it means things like mortgage rate increases. But, it also means employment numbers are up. And for tech companies, it means it may not be a ‘free for all’ in terms of funding new startups like we’ve seen. It’ll likely become increasingly difficult for new companies to raise capital. Borrowing costs are already up.
WHAT ELSE IS GOING ON?
Tell Us Anything …
New York Attorney General (NY AG) Eric Schneiderman doesn’t believe AirBnB and its attempts to make nice with local governments. This week, the home-sharing service put out a pledge outlining certain things it’s willing to do in order to cooperate with cities (e.g., paying taxes, sharing anonymized data about its hosts, etc). The NY AG says it’s all just a PR stunt and advises that “no one should take this press release seriously.” Hard feelings much? Meanwhile, AirBnB took its pledge on the road. The company held a conference in Paris, and its head of policy Chris Lehane basically said no one can stop home-sharing. Interpret that how you will.
Placing Bets …
Japanese e-commerce company Rakuten is going left when other Japanese companies are going right. It’s decided not to go down the path more traveled, which is Japanese companies looking to deepen their roots in Silicon Valley (SV). Rakuten wants to stay close to home and is looking to transform Tokyo into Japan’s very own tech capital. The company’s founder Hiroshi Mikitani is banking on Tokyo’s innovative spirit and the fact that the U.S. isn’t always quick on consumer trends. Anything to stay relevant in the digital economy …
THE STREETS ARE TALKIN’
Remember when Snapchat CEO Evan Spiegel told Facebook to take a hike with its $3 billion offer? Well now, FB is going after Snapchat in a different way. The social network’s testing out Snapchat-style disappearing messages (but just in France).
Speaking of turning down tons of cash … Wish, a five-year old e-commerce startup that most of us have never heard of, is rumored to have walked away from a $10 billion offer courtesy of Amazon.
One more thing on Snapchat … Wall Street Journal is its next media partner for the Discovery feature on the app. Marks the first time a major business publication will be on display.
It took almost no time for people to start talking about Zenefits, a startup that’s changing things up in the Human Resources world with its online software. Things are cooling off a bit. The startup is struggling to meet sales goals, and its value has been halved. Meaning, the company isn’t looking to hire, current employees’ salaries are getting cut, and some execs have abandoned ship.
The new YouTube Music app is here! Think of it as a standalone music service where you can access about 30 million audio tracks for free.