Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

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Tablets and Slackers

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Happy Friday.

Feels like this week blew by pretty quickly

So what’s the close of the week looking like for tech news?

First thing that caught my attention was Computerworld reporting that Google is officially done making its own tablets.

The last model, the Pixel Slate, was introduced into the market last year, and though Google apparently had two smaller-sized tablets under development, it opted to drop work on those devices and refocus its efforts on laptops.

For the record, I’m writing this post on a Google Pixelbook from 2018, a hybrid laptop-tablet that has exceeded my expectations (in terms of performance, etc.)

And Google also has its Pixel line of smartphones, so it probably makes sense to focus on a couple of form factors that represent where the market is leading, and to orient those efforts around Chrome OS.

Meanwhile, if you’re wondering which telco provider has the fastest mobile network in the U.S., PC Mag is reporting AT&T overtook Verizon this year for first place with its not-quite-full-5G offering, "5G Evolution."

AT&T has also secretly been helped by improvements in smartphone modems over the past two years. Wireless spectrum forms the lanes on which all smartphone traffic travels, and AT&T has more LTE spectrum than T-Mobile or Verizon, according to Fierce Wireless. But AT&T’s spectrum is typically highly fragmented, coming in many small pieces rather than a few large chunks. New modems are better able to aggregate a lot of small channels into one fast connection, which is working to AT&T’s advantage.

Next time you’re in a Walmart and thinking to yourself, "I think I’ll just walk out of here with this George Foreman Grill hidden under my jacket." Well, think again.

According to a report from The Verge, Walmart has been surveilling its checkout registers with a computer vision technology called "Missed Scan Detection" to identify when items move past the scanner without having been scanned.

The system runs on cameras that watch as items move across the register. If an unusual activity occurs, such as an item moving into a bag without being scanned, a checkout attendant will be notified to take action. Missed Scan Detection was designed to help reduce theft and other losses, a problem that has cost US retailers up to $47 billion in 2017.

And if you were wondering how Slack’s IPO worked out yesterday, it closed the day at $38.62, 48% above its $26 reference price (and valuing Slack at $20B).

Hardly a Slacker of an IPO…Keep an eye out for the floats of Postmates and Peloton soon.

Written by turbotodd

June 21, 2019 at 11:36 am

No Slackers

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Greetings from my South Austin bunker on a hill.

There’s an onslaught of relevant tech news this AM. First, let’s cover off the mo-nay situations.

Slack is expected to go public today, and it’s direct listing reference price has been set at $26. That would value Slack at roughly $15.7B

In case you didn’t know what a direct listing is, The Wall Street Journal explains:

In a

direct listing

, a company simply floats its existing stock onto a public exchange without raising any money or using underwriters. The company doesn’t choose an IPO price or who gets to buy in the night before trading begins, as is the case in a traditional IPO. Spotify Technology SA, which made its trading debut in April 2018, is the only other major company to go public via direct listing.

I think, therefore I Slack. All day, every day.

So, good luck, Slackers everywhere.

You know who’s not Slack? Apple, which, according to a report from Nikkei and as reconnoitered in The Verge, is looking at moving between 15 and 30 percent of its hardware production out of China and has apparently asked key partners like Foxconn, Pegatron, and Wistron to “evaluate the available options.”

The catalyst for the shift is the ongoing trade war between China and the US, which is expected to intensify at the end of this month with the

introduction of 25 percent tariffs

on devices including phones, laptops, and tablets. However, Apple reportedly wants to shift production regardless of whether the trade dispute gets resolved.

Florida’s Riviera Beach has decided to pay $600K in ransom to hackers that took over its computer system. It was a classic email spearphish attack that led to ransomware situation, and, according to a report from the AP, spokeswoman Rose Anne Brown “said Wednesday that the city of 35,000 residents has been working with outside security consultants, who recommended the ransom be paid.”

I guess that whole “We don’t negotiate with terrorists” thing is an outdated trope when it comes to the cyber realm, because it appears more and more municipalities are paying the ransom, as opposed to just saying “No.” Call me old fashioned, but just saying “Yes” simply invites more such attacks.

And yes, the payment is being made via Bitcoin.

Closing on a positive note. Fresno-based Bitwise Industries, which offers training for software developers, has raised a $27M Series A round led by Kapor Capital, which will allow the firm to potentially expand its training to other unusual suspect, underserved cities for tech (like El Paso, Texas, and Knoxville in Appalachia).

As James Fallows writes in The Atlantic:

“Some people have had opportunities by accident, and others do not,” she said [Irma Olguin, from venture firm New Voices Fund]. “We need to make those opportunities less a matter of chance and serendipity, and more a matter of deliberately creating opportunities and exposing young people to different possibilities for their lives.”

Written by turbotodd

June 20, 2019 at 10:52 am

Microsoft Purchases A Panda

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Hola, and Happy Hump Day.

Yet more deal making going on in the tech sphere.

Today, it was Microsoft’s acquisition of GitHub tool vendor Pull Panda for an undisclosed.

According to a report from ZDNet, the tech will be used to improve code-review workflows on GitHub, which Microsoft acquired last June for $7.5B:

The year-and-a-half old Pull Panda provides Pull Reminders, Pull Analytics and Pull Assigner to improvde the code-review process. Pull Reminders allow developers to notify developers that a collaborator needs their review. Pull Analytics can provide stats on everything from wait times to top contributors. And Pull Assigner helps automatically distribute code across teams. 

Also…Mattermost, an open source messaging platform, raised $50M in a Series B lead by the Y Combinator Continuity fund…VentureBeat reports that’s a total of $70M, and that the company is positioning itself as an alternative to Slack. 

The company hosts clients for Mac, iOS, Android, Windows, and Linux, along with prebuilt images for Amazon Web Services, Microsoft’s Azure, and Google Cloud Platform, all of which are designed to integrate with over 600 third-party apps and services, including GitHub and Trello. Mattermost can be deployed to a private cloud or on-premises and configured to work with mobile security systems (e.g., SSL, VPN, and DMZ), with high availability and speedy search, thanks to a clustered infrastructure and efficient databases.

And…Postman, a five-year old startup focused on development, testing and management of APIs, also raised a Series B round, also for $50M led by CRV.

The what: 

Postman offers a development environment which a developer or a firm could use to build, publish, document, design, monitor, test, and debug their APIs. Postman, like some other startups such as RapidAPI, also maintains a marketplace to offer APIs for quick integration with other popular services.

The why:

The modern software development relies heavily on APIs as more businesses begin to talk with one another. According to research firm Gartner, more than 65% of global infrastructure service providers’ revenue will be generated through services enabled by APIs by 2023, up from 15% in 2018.

Software is eating the world, and developers are buying and building more and more of the tools that are eating it.

Written by turbotodd

June 19, 2019 at 10:45 am

Moving Insurance

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You may think the insurance business is boring, but hey, my dad was an insurance agent, and he sure was never boring (anything, but!)

But he’s been retired for a few years, and the insurance biz is changing.

Example: TechCrunch is reporting on a London-based startup called Zego, a firm that foresaw the need for gig-economy workers to have insurance. 

Though its first products were pay-as-you-go scooter and car insurance for food delivery workers, it has now announced a $42M Series B raise that will help it cater to a variety of “the new mobility services,” including ride-hailing, ridesharing, car rental and scooter sharing.

From a risk management perspective, things get even more interesting, because the company will now offer a range of policies, “from minute-by-minute insurance to annual cover[age], providing more flexibility than traditional insurers, with pricing based on usage data from vehicles.”

Zego’s mission statement in a nutshell can be found in this quote:

Sten Saar, CEO and co-founder of Zego, said: “When we built Zego from scratch three years ago, our mission was to transform the insurance sector by creating products which truly reflected the rapidly changing world of transport… The world is becoming more urbanized and because of this, we are moving from traditional ownership of vehicles to shared ‘usership’. This means that the rigid model of insurance that has existed for hundreds of years is no longer fit for purpose.”

Written by turbotodd

June 18, 2019 at 3:07 pm

Facebook Introduces Crypto Play

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Facebook introduced its new plan around cryptocurrency earlier today, including Libra, a new cryptocurrency, and Calibra, a new Facebook subsidiary that will oversee Libra financial services.

It was a crypto shot hear ‘round the world.

More details from The New York Times:

The effort, announced with 27 partners as diverse as Mastercard and Uber, could face immediate skepticism from people who question the usefulness of cryptocurrencies and others who are wary of the power already accumulated by the social media company.

The cryptocurrency, called Libra, will also have to overcome concern that Facebook does not effectively protect the private information of its users — a fundamental task for a bank or anyone handling financial transactions.

But if the project, which Facebook hopes to begin next year with 100 partners, should come together, it would be the most far-reaching attempt by a mainstream company to jump into the world of cryptocurrencies, which is best known for speculative investments through digital tokens like Bitcoin and outside-the-law e-commerce, like buying drugs online.

If Facebook treats our money the way they’ve treated our personal information, buying drugs online will very well appear a viable option.

All kidding aside, the move is already sending shockwaves through nation states and federal banks around the globe.

According to a report in Bloomberg, French Finance Minister Bruno Le Maire said Libra shouldn’t be seen as a replacement for traditional currencies, that “it is out of the question” that Libra “become a sovereign currency. It can’t and it must not happen.”

A German member of the European Parliament, Markus Ferber, said that “Multinational corporations such as Facebook must not be allowed to operate in a regulatory nirvana when introducing virtual currencies.”

So where should we land on this?  We’ve seen all manner of cryptocurrency plays come and go, Mt. Gox crash and burn, etc.  

I think we should all take a deep breath and remember we’re not talking about some upstart ICO. We’re talking about the world’s biggest social network with the largest number of users introducing a form of digital currency that could upend traditional banking and fiat currency as we know it.

Potentially.

But only if its user base, and the vendors who participate, trust in the new system and, ultimately, in the currency (and, hence, in blockchain).

And trust is not something Facebook has exactly had an overabundance of the past couple of years.

Facebook tries to offer reassurances. Back to the Times: “Your financial data will never be used to target ads on Facebook,” said Kevin Weil, vice president of product for Calibra. 

The currency itself is being built so that any software developer in the world can build a digital wallet or other services on top of it, similar to the way that Bitcoin can be sent between people.

The structure of the new Libra currency is based on the blockchain technology made famous by Bitcoin.

The blockchain concept makes it possible to hold and move digital currencies almost instantly, usually with low transaction fees. Because blockchains are shared databases, they can function without any central operator like the central banks that have historically governed currencies. This structure will allow Libra to be overseen by many companies.

Customers will be able to hold and spend their Libra with businesses that accept the currency, and there will be services that quickly convert Libra into traditional currencies and send the money to traditional bank accounts, according to project documents released on Tuesday.

And the most important graph:

Initially, the Calibra subsidiary will offer little more than a wallet to hold and spend Libra. When Libra is released next year, the plan is to make the wallet available to the billions of people who have accounts with Facebook Messenger and WhatsApp.

If Facebook can create a viable, useful form of currency on platforms with the scale of Messenger and WhatsApp — as Tencent has done with WeChat in China — well, it could literally break the bank.

All of them.

Written by turbotodd

June 18, 2019 at 10:39 am

Who Turned Out The Lights?

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Happy Monday!

Okay, golf fans out there, how about that U.S. Open?  Hats off to Gary Woodland, who held off the always lurking Brooks Koepka (and previous two-years-in-a-row U.S. Open winner) and fastidious Justin Rose to win his first ever major championship.

And there was hardly any bitching about the conditions of the venue, Pebble Beach, which I consider to be a good sign (i.e., no out of control rough, crazy fast greens, streaking fans…okay, that last one I made up just to see if I have your attention).

Of course, it’s kind of hard to bitch much about Pebble Beach — I’ve never been there in person, but even on TV it’s breathtaking.

Now, if you happened to be at a Target over the weekend trying to buy some merch, you might have had reason to bitch. For two days in a row, Target experienced a register outage that caused long lines and forced some customers to pay with cash.

You remember cash, right? That green stuff issued by the Federal Reserve that has pictures of past presidents and stuff on it?

Target shares are down more than 1.5% today as investors figured the missing weekend cash into the investment equation. The Wall Street Journal “Morning Download” email newsletter this morning cited Target as explaining the incident wasn’t security related, but rather blamed the outage on a data center issued related to “routine maintenance.” 

Tell me about those self-driving cars, again?  You know, the ones inextricably linked to the same clouds that are running the Target cash registers??

It could have been worse. You could have been trying to do the tango in Argentina (and Paraguay…and Uruguay…and parts of Chile…and Brazil). The power went off and left tens of millions in darkness for several hours on Sunday, and nobody seems to know why.

This as The New York Times on Sunday reported that the U.S. is escalating cyber attacks on Russia’s electric power grid and has placed potentially crippling malware inside the Russian system. Moscow responded today by saying such hacks could escalate into a cyberwar with the U.S.

Mutually assured power outages, anyone?

And on the subject of mutually assured whatever, Huawei’s CEO is doing some advance damage control on the U.S./China Chill-But-Getting-Colder trade war, explaining he expects the company’s revenues to drop $30B below forecast over the next two years.

That’s due largely to a drop of 40 to 60 million international smartphone shipments. 

I would recommend he go talk to Alexa about his problems, but according to a recent survey of 1,000+ U.S. adults, 46 percent never use voice assistants, and 19 percent use them less than once a month.

And for those who do use virtual assistants, 49 percent use them via smartphones as opposed to 18 percent on smart speakers.

Siri, tell Google Assistant to text Alexa not to bother me!

Written by turbotodd

June 17, 2019 at 11:14 am

Facebook Coin

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Happy Friday.

For you golf fans, this year’s U.S. Open is off to a walloping good start, and, even better, if you’re a Tiger Woods fan, he’s in the hunt (-1 in the first round).

Justin Rose seems to have put together quite the round, tying the record 65 (-6) that Tiger himself set at Pebble Beach back in 2000. We’ll see if the wind starts whipping and the greens start firming up in round 2. Or perhaps the marine layer will blow, and nobody will be able to see anything, including the golfers.

While the golfers do their thing, Facebook’s long-not-very-well-kept secret blockchain/cryptocurrency payment project, "Project Libra," is getting some big named backers, according to a report from The Wall Street Journal.

Visa, Mastercard, PayPal, and Uber have all backed the new cryptocurrency, and each will invest around $10 million in a consortium that will govern the digital coin, the "Libra."

According to the Journal, that money would be used to fund the creation of the coin, one which will be pegged to a basket of government-issued currencies to avoid the wild swings witnessed by other cryptocurrencies.

The Verge also reported on the development, and addressed how the new "stablecoin" might be used:

As well as allowing users to send money over Facebook’s messaging products like WhatsApp and Messenger, Facebook hopes that its partnerships with e-commerce firms will allow users to spend the currency online. The company is reportedly also looking into developing ATM-like physical terminals for people to convert their money into Libra.

The Block reports that Facebook has also posted additional blockchain jobs this week, just ahead of the release of a whitepaper next week formally announcing Project Libra.

Be interesting to see whether or not the value of a bitcoin changes one way or the other over the course of the next week.

Written by turbotodd

June 14, 2019 at 10:00 am

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