9.18.2015
Good to Know: If you are planning an extended trip but are not quite sure what to do with your place, it is probably best to list your home on AirBnB yourself rather than a house sitter.
THE SKINNY
Get Low, Low, Low, Low…
Chairwoman Janet Yellen of the U.S. Federal Reserve Board, the entity that watches over the U.S. central banking system, announced just yesterday that short term interest rates will remain low (near zero) for the time being. These interest rates are applied to loans or debts that have maturities of under a year.
Come on Big Money!
If you have ever wanted to launch your own tech startup, now is the time to do it. As long as short-term interest rates remain low, venture capitalists are willing to take the risk to invest in high growth companies. That is the better alternative to dumping their funds into bank accounts. High risk, high rewards.
Show Me the Receipts…
According to the Wall Street Journal, there are currently 121 companies that are valued at more than $1 billion (double the amount from the past year). Having invested in 55 of the 79 billion dollar private companies, mutual funds, hedge funds, and banks are fueling this trend.
The Winning Formula …
Weak global economy + low rates = Cha-ching!
WHAT ELSE IS GOING ON?
Pay Me What You Owe Me…
The U.S. Commodities Futures Trade Commission (CFTC), an independent U.S. agency that regulates futures and options markets, made a pretty significant announcement yesterday when it officially classified digital currency bitcoin as a commodity. In other words, the digital currency is now officially recognized as a basic good that is used and exchanged in commerce. Up until now, the CFTC did not know what to do with bitcoin. But after filing and settling charges with a Bitcoin exchange company, CoinFlip, the agency is clear on the fact that it will now clamp down on bad actors involved in trading digital currency futures and options.
The Glass is Half Full …
Silicon Valley (SV) wants political campaigns to focus on the positive side of immigration. Lately, the immigration debate has focused heavily on the undocumented issue, but SV group fwd.us is working to put the high-skilled immigration angle back on the map. The day after Donald Trump talked about his “build a wall” immigration solution for the umpteenth time, fwd.us President Todd Schulte said that, “[a]ttracting entrepreneurs and human capital is critical to the tech community.” Tech companies want to keep innovating and are asking Congress to increase the number of work visas, H1-B visas, permitted each year. This move would allow foreign-born high skilled professionals, often U.S. educated, to remain and legally work in the country.
The Streets Are Talkin’
Terrorists and beauty are typically not associated with each other. Modiface, an app originally designed to help read terrorists’ lips, is catching the attention of the beauty industry. The augmented reality technology behind the app is also good for figuring out what makeup shade best matches your skin. Who knew.
Luxury brand Burberry is the latest to drink the Snapchat-koolaid and plans to unveil its latest collection on the app this Sunday evening. The show kicks off at 7pm on September 20.
The BBC is developing a Netflix type service for the U.S. market. #Brilliant
Are we over apps? To get their businesses going, startups are now relying on basic text messaging rather than going through the complicated process of creating a visually appealing app.