11.5.2015
Good to Know: Who says you can’t become more cultured via the Internet?
THE SKINNY
When It’s Time to Rally …
For the first time in a long while, the price of virtual currency bitcoin is on the up and up. Wednesday morning the value of a single bitcoin skyrocketed above $500 on some bitcoin exchanges but ended the day at $400. Still not bad …
When People Start to Question You …
Bitcoin has only been around for about 6 years so naturally people were skeptical. First, we heard that it was popular among criminals. And to top that off, Mt. Gox, Bitcoin’s largest exchange, managed to lose hundreds of millions of dollars before going bankrupt. People kept their distance and what was once a hot ticket got downgraded to a basic fad.
When You’re On An Upswing …
Over the past few weeks, things are looking up for bitcoin thanks to growing interest from China and Wall Street. Banks and financial service companies are especially interested in the blockchain, the technology behind the virtual currency.
When You’re Getting Ahead of Yourself …
In the past, bitcoin has fallen just as fast as it’s risen. Though people are geeked up about bitcoin’s future, there are still some issues (e.g., majority of people aren’t using bitcoin in their day-to-day, and there’s still its link to activities that aren’t legit). But, the glass should always be half full, right?
WHAT ELSE IS GOING ON?
If It Ain’t Broke …
Coming off its successful defeat of San Francisco’s (SF) Proposition F (a proposal that would’ve restricted short-term rentals in the city), homesharing service AirBnB is taking its show on the road. In SF, the company kicked off its Anti-F campaign and relied on thousands of volunteers to defeat the proposition. Things worked out so now the company thinks it can use the same playbook in cities around the world where it faces similar regulatory issues.
Reaching Milestones …
Facebook is kicking butt and taking names. Its third quarter earnings were better than expected. The social network pulled in $4.5 billion in revenue during that time. What did we learn? Its users are up to 1.55 billion, and most of them are using FB via their phones (mobile advertising accounted for $3.4 billion of the $4.5 billion). FB’s spending more than previous quarters as it looks into virtual reality and ways to bring Internet access to everyone in the world. But don’t worry, it’s still focused on the main business. Things with FB are good and all, but people want to see how Instagram is doing. FB’s making ’em wait for those numbers.
Eye Spy…
For once how the government is looking at what you do online isn’t about the U.S. Yesterday, the United Kingdom (UK) revealed new plans for government to keep its people safe. Business groups, Internet, and tech companies are worried about undermining people’s privacy and their trust in companies’ products. Under this UK proposal, things like allowing government to see which websites people are checking out would be A-OK. Also, the UK could force communication service companies to hoard their customers’ web browsing information for one year. The U.S. is giving the UK major side-eye because this proposal wouldn’t fly State side. Other major issues: The UK could require that companies stop encrypting devices and that they hack into suspects’ devices for info. It’s a lot to digest, and that’s just the watered-down version of the bill.
THE STREETS ARE TALKIN’
Yesterday, ex Twitter engineering manager Leslie Miley posted a no holds barred explanation of why he left the company. In a nutshell, the company wasn’t doing much in the diversity department. Now, Rev. Jesse Jackson wants Twitter to release numbers on just how many people who fall into the underrepresented category have been laid off.
Uber surge pricing can be the worst. Gett, a London-based startup, “gets” how you feel so it’s refunding Uber riders’ their surge fees. It’s not exactly what you think. To compete with Uber, Gett is running a promo in New York City. New Yorkers would need to sign up on SurgeSucks.com and send their Uber surge receipts into Gett. In return, the company sends potential customers company credit in that amount for free rides.
Sports fantasy site FanDuel has run into some legal issues recently, and it isn’t making as much money off of its contests anymore. Overexposure may be to blame so FanDuel is reigning in its advertising spending. It has no plans to go public anytime soon and definitely won’t be merging with competitor DraftKings.
Travel site Expedia is stepping its game up and purchased AirBnB competitor, HomeAway, for $3.9 billion.
Google’s putting out its low-cost smartphone, Android One, in the Indian market. Android One is a lesser version of Google’s mobile operating system Android.
Dating app Tinder’s CEO Sean Rad says contrary to popular belief, most of its users (80% to be exact) are looking for something serious.