Dec
14

A woman is suing Apple because she didn't think the iPhone had a notch — check out Apple's marketing and decide for yourself (AAPL)

A notable design element of Apple's iPhone XS and iPhone XS Max phones is what most people call "the notch."

It's a cutout on the top of the phone's screen so that Apple can pack in the advanced cameras necessary for the FaceID facial recognition security without adding bezels around the phone's edges.

But in much of Apple's recent marketing, the notch blends into the screen because Apple displays a black background in many of the promotional images and on the front page of its website.

Now, someone is saying that those images are misleading — and she's suing over it.

In a complaint filed Friday in the Northern District of California, Courtney Davis' lawyers accused Apple of designing its advertising to obscure the notch, leading Davis to believe that the iPhone XS Max she preordered wouldn't actually come with a notch.

"Images that disguise the missing pixels on the Products' screens are prominent on Defendant's website, as well as in the advertisements of retailers who sell the products," the complaint said. "These images were relied on by Plaintiff DAVIS, who believed that the iPhone XS and XS Max would not have a notch at the top of the phone."

There are other matters cited in the complaint, including a claim Apple shouldn't count pixels on the corners of the device in its advertising, because they are rounded off.

The lawsuit is seeking class-action status, as well as damages from Apple. It may be years before there's any substantial developments one way or the other, given how long class-action lawsuits usually take to progress. Indeed, there's no guarantee that this will ever come to court at all.

But Friday's complaint is the first time that the marketing images related to the latest premium iPhones — starting at $1000 — are being closely scrutinized in a legal sense. When the marketing images were leaked in August, many tech commentators said the black background effectively hid the notch from being readily apparent.

Apple didn't immediately respond to a request for comment.

The entire complaint is embedded below:

Original author: Kif Leswing

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Mar
31

Facebook and Twitter blocked videos from Brazilian president Jair Bolsonaro for coronavirus misinformation

"Pokémon Go" is 2 1/2 years old, but it's still going strong — the game raked in $73 million in October alone, according to estimates, and just this week launched a long-awaited competitive-battling mode.

Now it appears that Niantic, the game's developer and a Google spinoff, is leveling up with a new $200 million funding round valuing the company at $3.9 billion, according to The Wall Street Journal. The round is reportedly led by Silicon Valley investment firm IVP, with participation from Samsung and eSports investor aXiomatic Gaming. The Inquirer previously reported that Samsung's share of the round was $40 million.

The hefty funding round shows that investors are optimistic about Niantic. A year ago, the company was valued at $2.7 billion, making this a significant up round. Previous investors in Niantic include Nintendo, The Pokémon Company, Google, and Peter Thiel's Founders Fund.

There are some obvious reasons for this excitement: Even as "Pokémon Go" continues to outperform, Niantic is slated to release "Harry Potter: Wizards Unite," a seemingly surefire hit, next year. The Wall Street Journal reported that Niantic is also in talks to develop more games based on licensed intellectual property.

However, beyond its bright future as a game studio, this investment would seem to have everything to do with Niantic emerging as a maker of software for programs. Earlier this year, Niantic previewed the Real World Platform, software that it intends to license out to developers to make their own GPS-based augmented-reality games.

Niantic's "Pokémon Go" got players to walk around in search of virtual monsters. Now it plans to license the tech to other developers. AP Photo/Nati Harnik

For Niantic, the Real World Platform appears to be the long-term play. Gaming is a hit-driven business; "Pokémon Go" revenues could evaporate tomorrow if another huge title came along. But history has shown that there's a durable business to be built in licensing out the foundational software to help others make games.

If you want an example, look no further than Epic Games, the creator of the international phenomenon that is "Fortnite." Beyond its video-game business, Epic has long offered the Unreal Engine, a wildly successful video-game engine that it licenses to other developers for free, taking a cut of their revenues in exchange.

While Epic doesn't break out how much revenue the Unreal Engine brings in, its sheer popularity in the gaming industry — smash hit "PlayerUnknown's Battlegrounds" is an Unreal Engine game, as is this year's "Dragon Ball FighterZ" — likely means that it's doing just fine. Earlier this year, Epic raised funding valuing it at $15 billion.

Niantic's big bet is that the Real World Platform will become a similarly foundational cornerstone in AR, which is the technology for overlaying digital imagery over the real world. Companies like Apple, Google, Microsoft, and Facebook all see AR as a major new phase in computing, and there's clearly at least the opportunity for Niantic to play a major role in the gaming industry yet to come.

Samsung announced that it's partnered with Niantic to build the Real World Platform, which could bring better augmented reality to its phones and other devices. Antonio Villas-Boas/Business Insider

This, too, is where Samsung comes in. In November, Samsung announced that it is collaborating with Niantic to further develop the Real World Platform, with this investment representing a deepening of that partnership. This alliance makes some sense, as Samsung has touted AR-related features as a selling point for its latest Galaxy S9 smartphones. With Niantic on its side, Samsung hopes to outdo rivals like Apple at AR technology.

Altogether, a picture begins to emerge about why Niantic seems to be in such demand. It has solid-gold gaming hits today that are delivering real revenue, a pipeline of successful games yet to come, and, perhaps most importantly, an actionable plan for generating a business that goes beyond appealing to fickle consumers. Oh, and Niantic hasn't even yet launched in China, which is the biggest smartphone gaming market in the world.

Of course, this all hinges on the expected bull market for AR technology to actually materialize. As we've seen with virtual reality, a sister technology to AR, consumer uptake of these platforms can be extremely slow. If Niantic's bet is correct, it stands to benefit — but, at least, if it's wrong, it still has "Pokémon" and "Harry Potter."

Original author: Matt Weinberger

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Dec
14

This 7-year-old company makes beautiful and inexpensive 'skins' for every piece of tech you can think of — take a look

The instructions themselves are incredibly polished and well made, with many of them featuring adorable computer animations. It feels like Dbrand went the extra mile for customers.

Original author: Dave Smith

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Aug
31

How machine learning helps the New York Times power its paywall

Amazon's highly publicized hunt for the site of its new headquarters, known as HQ2, was a brilliant strategy.

The contest resulted in cities warring for Amazon's favor with offers of billions of dollars in tax breaks and other generous promises.

It has also given Amazon something that's potentially far more valuable than any subsidies it may have gleaned: a trove of data.

"Amazon has a godlike view of what's happening in digital commerce, and now cities have helped give it an inside look at what's happening in terms of land use and development across the US," said Stacy Mitchell, a director of the Institute for Local Self-Reliance, a think tank based in Washington, DC. "Amazon will put that data to prodigious use in the coming years to expand its empire."

Amazon received proposals from 238 cities vying to be chosen as the home of its second headquarters.

The company then selected 20 finalists, and sent those cities a 29-page request for additional data.

New York City's 235-page response to that second reqeust was obtained and published by The New York Times on Friday. It contained detailed information — some of it not publicly available — on the city's work force, education systems, optimal sites for development, and current and future land use and development projects.

While the information in many of those proposals is sealed from the public or otherwise heavily redacted, it's safe to assume that most contain similar details.

Amazon could use this data to aid in future expansion as it selects sites for new stores, warehouses, data centers, fulfillment centers, and other brick-and-mortar needs.

Read more: Amazon is breaking a central promise of HQ2 by reportedly placing it in 2 different cities

In some cases, the bids could help Amazon get a leg up over its competitors, because the data they contain might not be publicly available.

"This is an incredibly valuable trove of data that 238 cities spent time compiling and submitting to Amazon," Mitchell said. "At the end of the day, it may well be that the data is the most valuable thing that Amazon has gotten out of this."

Original author: Hayley Peterson

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Aug
31

B2B marketing strategies: Everything you need to know about building an original podcast series 

Tesla employees at the company's solar panel factory in Buffalo will hold a union organizing drive, the United Steelworkers (USW) and International Brotherhood of Electrical Workers (IBEW) said on Thursday in a press release.

The unionization effort will involve production and maintenance employees, according to the USW and IBEW, which said Tesla employees contacted them about organizing.

The USW said in June 2017 that it was attempting to organize the Buffalo factory.

"Tesla greatly values its employees and the direct relationship it has with them at our Buffalo facility. We offer wages and benefits that exceed those of other comparable manufacturing jobs in the region, and we recently increased our base pay even further," a Tesla representative said in a statement to Business Insider.

"Ultimately, it's up to our employees to decide if they want to be unionized. While we will never please everyone outside of Tesla, we have an unwavering commitment to providing a great workplace for our employees."

Read more: 70-hour weeks and 'WTF' emails: 42 employees reveal the frenzy of working at Tesla under the 'cult' of Elon Musk

"I wanted to work at Tesla because I wanted a job in green energy, a job that can change the world," Rob Walsh, a Tesla employee and member of the factory's organizing committee, said in the press release. "But I also want a fair wage for my work."

USW had represented workers at the Buffalo factory when it was operated by Republic Steel. Tesla took over the factory, which it operates with Panasonic, in 2016, when it bought the solar panel installation company SolarCity, which had been using the factory before the acquisition. Production at the factory has faced delays, though Tesla says it plans to ramp up production in the first half of 2019.

Some employees at Tesla's auto plant in Fremont, California, have also attempted to unionize in the midst of reports from Reveal that Tesla has misreported workplace injuries, avoided using safety markings for aesthetic reasons, and failed to give injured employees proper medical treatment.

Tesla has denied that it has misreported workplace injuries and failed to use safety markings for aesthetic reasons. The company did not respond to requests for comment on the allegation that it failed to give injured employees proper medical treatment.

The National Labor Relations Board is investigating claims that Tesla has violated federal labor laws by interfering with union-organizing activities, retaliating against employees who supported a union, and using an overly broad confidentiality policy.

Tesla has denied those allegations.

You can read Tesla's full statement below:

Tesla greatly values its employees and the direct relationship it has with them at our Buffalo facility. We offer wages and benefits that exceed those of other comparable manufacturing jobs in the region, and we recently increased our base pay even further. In addition, unlike other manufacturers, every single employee is an owner of Tesla, as everyone receives stock upon hire and for good performance, which results in significantly more compensation beyond our already high wages.

Other factories are shutting down in the US and we still have a long way to go to make Gigafactory 2 financially sustainable. Nevertheless, we continue to do everything we can to keep exceeding our commitments to jobs and business in Buffalo.

Today's demonstration consisted almost entirely of groups outside of Tesla, not Tesla employees. And ultimately, it's up to our employees to decide if they want to be unionized. While we will never please everyone outside of Tesla, we have an unwavering commitment to providing a great workplace for our employees. That's what matters.

Original author: Mark Matousek

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Dec
14

30 last-minute tech gifts that are Amazon Prime-eligible and guaranteed to arrive by Christmas

The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

Amazon

Nobody plans ahead to be behind on their holiday shopping, but it happens to the best of us year after year, despite always planning to do better. Thankfully, Amazon Prime offers free two-day shipping on millions of items, so nobody has to know you waited until the last minute to purchase their gift, again.

If you're shopping for last-minute tech gifts, you're in luck. There are still tons of great presents you can buy before Christmas, from noise-cancelling headphones to instant cameras to Amazon Echos.

We rounded up 30 of the best last-minute tech gifts we could find on Amazon, all of which are eligible for Prime shipping. That said, only Amazon Prime members can take advantage of Amazon's free two-day shipping perk (and dozens of others). So if you're not a member and want to try it out for a month for free, you can sign up for a 30-day trial.

Looking for more gift ideas? Check out all of Insider Picks' holiday gift guides for 2018 here.

Original author: Brandt Ranj

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Mar
31

Monzo CEO won’t take salary for 12 months after limited number of staff offered voluntary furlough

Facebook has killed off its Building 8 skunkworks lab following a significant reshuffle of its experimental-projects and hardware units.

The super-secretive organization was inspired by the Defense Advanced Research Projects Agency and billed itself as a unit dedicated to building "new, category-defining consumer hardware products." In its buzzy heyday, it worked on far-out projects like brain-scanning tech and skin sensors. It was a moonshot factory, in other words, in the same vein as Google's X.

But things have now changed. Some of its most experimental projects have been shunted over to a new division, Facebook Reality Labs, and its hardware segment has been rebranded as Portal following the launch of Facebook's home video-chat device.

The Building 8 brand, meanwhile, has quietly been killed off completely, a spokesperson told Business Insider.

CEO Mark Zuckerberg announced Building 8 in 2016. He billed it as a bold bet on hardware for Facebook, which has never managed to parlay its success in the software space into physical consumer goods like Apple and Google. It was led by Regina Dugan, a former DARPA director and Google exec, who left Facebook in January after less than two years at the company.

"I'm excited to announce that we've started a new group at Facebook called Building 8 focused on building new hardware products to advance our mission of connecting the world," Zuckerberg wrote in a post when it launched.

"We'll be investing hundreds of people and hundreds of millions of dollars into this effort over the next few years. I'm excited to see breakthroughs on our 10 year roadmap in augmented and virtual reality, artificial intelligence, connectivity and other important areas."

In October, those ambitions finally came to fruition with the launch of Portal, a touch-screen video-chat device that lets users them call their friends and consume media using Facebook's software.

With the launch, Building 8's executives and hardware-focused teams transferred to a newly formed Portal team — and Building 8 was shuttered, a previously unreported development.

Rafa Camargo, who was made the head of Building 8 when Dugan left, was appointed VP of Portal when it officially launched. Head of product Itai Vonshak, director of marketing Nick Fell, and head of device software Viresh Rustagi also all made the shift.

Some employees still advertise themselves on LinkedIn as working for Building 8, and there are still some open job advertisements for positions at Building 8 — but this is because they haven't been updated yet, a spokesperson said.

Other signs of the unit's newness abound. Building 8's official Careers page on Facebook's website has been killed — but Portal's jobs page uses all its old photos.

The Facebook Careers page for Building 8 has vanished — but Portal's page uses the same photos. Business Insider

Any other unannounced hardware projects being developed by Facebook now live under the Portal organization — excluding virtual or augmented reality efforts that would be part of Oculus, the company's AR/VR unit.

With Building 8's dissolution, its more experimental efforts have been spun out into another new group: Facebook Reality Labs.

Facebook Reality Labs was formed in May, prior to the launch of Portal, though at the time it was viewed as a rebranded Oculus Labs (Facebook's earlier AR/VR research efforts). It now holds tentpole Building 8 projects like the brain-computer interface team, which attempts to build computers that can meld with human minds. It's being led by Michael Abrash, a game-industry veteran and legendary programmer.

The haptics team, which is working on tech to help people "hear" through their skin, has also been transferred, according to its members' LinkedIn profiles, and healthcare projects that were once part of Building 8 have also been moved out.

Some of Facebook's other experimental research, like its work on biologically inspired "soft robotics," is also part of Facebook Reality Labs.

Facebook says it is still working on many of the same projects, albeit with a different structure. In an email, Facebook spokesperson Lisa Auslen said: "Building 8 was the early name of the team building consumer hardware at Facebook. Building 8 is part of Facebook's AR/VR organization. Now that we're shipping, it's the Portal team. And Rafa Camargo is still leading the team; that has not changed."

"We also unified research looking at longer terms projects under one team, which became Facebook Reality Labs, which is also part of our AR/VR organization. This includes research projects like the Brain Computer Interface." She said that the restructuring did not entail any layoffs.

Zuckerberg's vision may still be in place — but the reshuffle means it's playing out in a very different way.

Do you work at Facebook? Got a tip? Contact this reporter via Signal or WhatsApp at +1 (650) 636-6268 using a non-work phone, email at This email address is being protected from spambots. You need JavaScript enabled to view it., Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.

Original author: Rob Price

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Feb
02

Slite looks to build a new smarter notes tool for internal teams

As cities and states battled to win Amazon's second headquarters, they provided the e-commerce giant with an overwhelming amount of data.

On Friday, it became clear just how much information Amazon wanted. On Monday, New York City posted its 253-page HQ2 proposal online. The city quickly took down the extensive proposal, but The New York Times downloaded the document before its removal and published it in full on Friday.

Read more: New York finally revealed the HQ2 rendering that helped it win Amazon over to Long Island City

"After Amazon announced its shortlist in January, it gave cities a 29-page request for information that required far more precision and was more about practicalities than flash," The Times reported.

Amazon's questions, as seen in the proposal, are truly far-reaching. And, New York City willingly provided the information.

"Specify the cost of a basket of goods in your community," one section said. "The basket is from Whole Foods: gallon of 2% milk, loaf of whole wheat bread, and an avocado. Also, the cost of Starbucks tall coffee, movie ticket, monthly gym membership (individual) at a YMCA (if U.S.), dry cleaning of a shirt, and a gallon of gas."

New York City dutifully answered the questions — an avocado costs $1.25 whether purchased in Midtown West or in Long Island City, Queens, though you can get a slightly better deal on movie tickets at AMC in Manhattan than UA Kaufman in Queens ($16.29 versus $16.40).

Demographics of the city, including professional breakdown, race, and education levels."Big ideas" that could lead to partnerships between Amazon and education centers. The State University of New York suggested an "Amazon Scholars Program" to enroll Amazon employees in SUNY programs of their choice. Detailed information on education systems, from prekindergarten to college. New York City provided data on average SAT scores, third graders' performance levels on mathematics testing, and how close colleges are to proposed HQ2 sites. "Quality of life" measures, including health and fitness opportunities, hate crimes, weekend travel destinations, and the cost of living. The proposal highlighted SoulCycle, said hate crimes are on the decline, and suggested that Amazon employees can visit Dia:Beacon or Fire Island on the weekend. Community challenges. New York City's biggest challenges — according to the proposal — are inequality, transportation, and sustainability. Extensive real-estate and zoning information on potential sites for HQ2. Amazon even asked for details about utility providers, parking options, and nearby restaurants. Tax policies and government organizations. New York City estimated that New York's city and state taxes will deduct $9,060 from an Amazon worker earning $100,000 annually.

The depth of the data requested by Amazon is especially interesting because the company likely collected similarly extensive information on all of its 20 HQ2 finalists. This trove of data could be valuable for the company moving forward.

"Amazon has a godlike view of what's happening in digital commerce, and now cities have helped give it an inside look at what's happening in terms of land use and development across the US," Stacy Mitchell, a director of the Institute for Local Self-Reliance, a think tank based in Washington, DC, told Business Insider's Hayley Peterson in November.

"Amazon will put that data to prodigious use in the coming years to expand its empire," she said.

Original author: Kate Taylor

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Feb
02

Tesla looks to take solar mainstream with Home Depot partnership

The world is witnessing a massive boom in skyscraper construction, led by nations like China, Saudi Arabia, and the United States. This year alone, China built more skyscrapers than at any other time in history.

Amid growing competition for the tallest and most innovative towers, one high-rise in South Korea managed to surpass all others.

Read more: Stunning photos of the 10 best skyscrapers in the world

Earlier this week, the Lotte World Tower in Seoul received the Emporis Skyscraper Award, the world's most renowned prize for high-rise architecture.

The tower's sleek design pales in comparison to its record-shattering features, which include the world's highest glass-bottomed observation deck and the world's fastest elevator.

Take a look at how it was built — and what it looks like now.

Original author: Aria Bendix

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Dec
14

Niantic reportedly raising $200M at $3.9B valuation

Pokémon GO creator Niantic is raising a $200 million Series C at a valuation of $3.9 billion, according to a report from Katie Roof at the WSJ. The round is expected to be led by IVP with participation from Samsung and aXiomatic Gaming.

The upcoming raise would bring the company’s total funding to $425 million, according to Crunchbase. Niantic’s last round was raised at a $3 billion valuation.

TechCrunch has reached out to Niantic for comment.

The gaming startup, which has invested significantly in augmented reality technologies, is also behind titles such as its recently updated Ingress title and an upcoming Harry Potter mobile game. The company was founded as a startup within Google in 2010 and was spun out as its own entity in 2015, releasing its hit title Pokémon GO the next year.

The company is currently working on its next big augmented reality mobile title, Harry Potter: Wizards Unite, aiming to create a proper follow-up hit that can capture the excitement of its Pokémon title. The app’s success will likely be crucial to perceptions that Pokémon GO was more than a fluke breakout success. A release date has not yet been set for the title.

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Dec
14

Tesla lowered the price of the Model S and Model X in China following scheduled tariff decreases (TSLA)

Tesla has lowered the price of its Model S sedan and Model X SUV in China after the country temporarily lowered some tariffs on cars imported from the US, a Tesla representative confirmed to Business Insider.

For Chinese customers, the Model S starts at around $107,000, while the Model X starts at around $115,000, according to Tesla's Chinese website. For US customers, the Model S starts at $78,000 and the Model X starts at $84,000.

The Chinese government will temporarily remove 25% tariffs on 144 US vehicle and auto parts and 5% tariffs on 67 auto-related items between January 1 and March 31, Reuters reports. China has also reportedly decided to lower tariffs on some cars and auto parts from 40% to 15%.

Have a Tesla news tip? Contact this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it..

Original author: Mark Matousek

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Dec
14

1Mby1M Virtual Accelerator Investor Forum: With Bill Baumel of Ohio Innovation Fund (Part 1) - Sramana Mitra

Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Kara Weber was recorded in November 2018. Bill...

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Original author: Sramana Mitra

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Jan
30

Fools and their crypto

The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

Through December 22 at Target online, enjoy free shipping and returns on thousands of items with no minimum purchase required. Target

It seems like you've been brainstorming what gifts you're getting for everyone on your list for months. You've curated a Pinterest board of thoughtful products and your laptop is a mess of tabs of the gifts you need to remember to buy, but now Christmas is less than two weeks away and you haven't bought one thing.

If you're a last-minute shopper, you're not alone.

A recent Hilton Honors study discovered that 50% of all shoppers wait until the last month before the holidays to get their gifting done, while an even more surprising 40% wait until the last week.

If you're a member of that 40%, don't lose hope — you can still get all of your holiday shopping done without giving up your procrastinating ways.

Plenty of online retailers are offering free two-day shipping that guarantees you'll have your gifts by Christmas. We went through your favorite sites and found all of the important deadlines you need to know to make sure all of your gifts make it under the tree.

Read on for all of the shipping deadlines from some of your favorite online retailers, so you can get your gifts by Christmas:

Looking for more gift ideas? Check out all of Insider Picks' holiday gift guides for 2018 here

Amazon:

Bed Bath & Beyond:

Best Buy:

Best Buy is offering free shipping on everything, all season long. Order large home delivery items by December 19 and most other items by December 20 for guaranteed pre-Christmas delivery. Shop bestbuy.com.

Crate & Barrel:

December 19 (4 p.m. CT) is the last day to order for guaranteed delivery, many items ship free. Shop crateandbarrel.com.

J.Crew:

Today only, get free shipping on all orders. Shop jcrew.com.

Jet.com:

For a limited time, get free same- and next-day delivery on select gifts. Only available in select New York metro zip codes, on orders of $35 or more. Shop jet.com.

Lands' End:

L.L.Bean:

Order by December 21 (noon ET) and get free shipping on orders of $50 or more. Shop llbean.com.

Nordstrom:

December 18 is the last day for free standard shipping (order by noon ET for pre-Christmas arrival). Shop nordstrom.com.

Sephora:

Order by December 20 (noon local time) and get free shipping on orders of $50 or more. Shop sephora.com.

Target:

Through December 22, enjoy free shipping and returns on thousands of items with no minimum purchase required. Shop target.com.

The Home Depot:

Get free two-day delivery on thousands of items. Shop homedepot.com.

Walmart:

Free two-day shipping on millions of items, with a minimum $35 order. Shop walmart.com.

West Elm:

Order by December 20 (3 a.m. ET) and get free shipping on orders $29 and over. Shop westelm.com.

Williams-Sonoma:

Today only, get free fast shipping with the code "FRIENDS" at checkout. Otherwise, order by December 20 (3 a.m. ET) for guaranteed December 24 delivery. Shop williams-sonoma.com.

Subscribe to our newsletter. Find all the best offers at our Coupons page. Disclosure: This post is brought to you by the Insider Picks team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

Original author: Remi Rosmarin

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Feb
02

This Is A Really Good Place To Be Right Now

The "League of Legends" developer Riot Games has acknowledged Chief Operating Officer Scott Gelb's role in upholding a culture of toxic masculinity that has made the company the target of a gender-discrimination lawsuit.

Reports of Riot's "bro culture" first surfaced in late August, detailing multiple allegations of sexual misconduct and gender discrimination in the workplace. Gelb specifically has been accused of repeatedly farting on employees, humping them, and hitting their testicles as a part of what was described as a running workplace gag.

Following the allegations that it fostered a work environment unwelcoming to women, Riot apologized and pledged to conduct an internal review and make necessary changes to its culture.

Now, more than three months into its 16-month "cultural transformation timeline," Riot has informed employees that Gelb will be suspended without pay for his behavior and undergo training before returning to the company in two months, Kotaku reported on Thursday.

Riot, whose extremely popular "League of Legends" is the most watched esport, has 2,500 employees, 80% of whom are men, according to Kotaku. Riot is a subsidiary of Tencent, the Chinese conglomerate and world's largest video-game publisher.

In an internal email first obtained by Kotaku and later published in full by Variety, Riot CEO Nicolo Laurent said the decision to suspend but ultimately retain Gelb was made following a joint investigation by a board-of-directors committee and the law firm Seyfarth Shaw.

Riot said in a statement: "After carefully reviewing and considering the findings, the Special Committee of Riot's Board of Directors determined that a two-month, unpaid leave of absence, along with training, was the appropriate action given the allegations that were substantiated. We can also confirm that many of the rumors circulating about Scott within the company, the media, and other channels were actually not true."

The email and statement don't specify what Riot found to be false or the behavior Gelb was suspended for, though it was generally described as inappropriate, unprofessional, and unacceptable.

Read more: The company behind one of the biggest video games in the world was just slammed with a lawsuit alleging its 'bro-culture' created a sexist workplace where women were rated on their 'hotness,' told that 'no doesn't necessarily mean no,' and shown unsolicited photos of male genitalia

Laurent asked Riot employees to join him in uplifting Gelb as a leader upon his return, commending his fellow executive's choice to seek "redemption" rather than leave the company. He said Gelb would "help make Riot a more diverse and inclusive organization."

"Scott could have avoided owning his past and his consequences," Laurent said in the email. "He could have left Riot. Scott chose ownership and redemption. I will root for him, will support him through this journey, and will leverage him as a great leader when he returns next year. I hope you will join me."

Kotaku said it spoke to several current Riot employees who were frustrated with the company's decision to retain Gelb. One person likened the two-month suspension as "a tiny slap on the wrist" and described the decision to keep Gelb as disrespectful to employees affected by his behavior.

In its August apology, Riot said it was willing to remove employees and make large-scale changes as part of its internal investigation.

"No one and nothing is sacred," the company's blog post said. "We are prepared to make big changes and have begun taking action against specific cases, including removal of Rioters, though we aren't likely to get into those details publicly on a case-by-case basis for legal and privacy reasons."

Laurent said in the email that Riot remained committed to protecting employees during the investigation but that Gelb's case was an exception because of his high-visibility role within the company.

The company is also facing a legal challenge from a class-action gender-discrimination lawsuit filed in November by two female Riot employees, one former and one current, alleging that the company's "bro culture" negatively affected their careers.

Other Riot employees have been accused of sending unsolicited pictures of their genitals and maintaining a list of the "hottest" employees. The lawsuit also alleges that male Riot employees used the word "dick" 500 times in the workplace over a month.

Original author: Kevin Webb

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Feb
02

Polish hackers create an indoor location system for disabled students

Robinhood will rename and revamp its upcoming checking and banking features after encountering problems with its insurance. The company published a blog post this evening explaining “We plan to work closely with regulators as we prepare to launch our cash management program, and we’re revamping our marketing materials, including the name . . . Stay tuned for updates.”

Robinhood’s new high-interest, zero-fee checking and savings feature seemed too good to be true. Users’ money wasn’t slated  to fully protected. The CEO of the Securities Investor Protection Corporation, a nonprofit membership corporation that insures stock brokerages, tells TechCrunch its insurance would not apply to checking and savings accounts the way Robinhood originally claimed. “Robinhood would be buying securities for its account and sharing a portion of the proceeds with their customers, and that’s not what we cover,” says SIPC CEO Stephen Harbeck. “I’ve never seen a single document on this. I haven’t been consulted on this.”

That info directly conflicts with comments from Robinhood’s comms team, which told me yesterday users would be protected because the SIPC insures brokerages and the checking/savings feature is offered via Robinhood’s brokerage that is a member of the SIPC.

If Robinhood checking and savings is indeed ineligible for insurance coverage from the SIPC, and since it doesn’t qualify for FDIC protection like a standard bank, users’ funds would have been at risk. Robinhood co-CEO Baiju Bhatt told me that “Robinhood invests users’ checking and savings money into government-grade assets like U.S. treasuries and we collect yield from those assets and pay that back to customers in the form of 3 percent interest.” But Harbeck tells me that means users would effectively be loaning Robinhood their money, and the SIPC doesn’t cover loans. If a market downturn caused the values of those securities to decline and Robinhood couldn’t cover the losses, the SIPC wouldn’t necessarily help users get their money back. 

Robinhood’s team insisted yesterday that customers would not lose their money in the event that the treasuries in which it invests decline, and that only what users gamble on the stock market would be unprotected, as is standard. But now it appears that because Robinhood is misusing its brokerage classification to operate checking and savings accounts where it says users don’t have to invest in stocks and other securities, SIPC insurance wouldn’t apply. “I have an issue with some of the things on their website about whether these checking and savings accounts would be protected. I referred the issue to the SEC,” Harbeck tells me. TechCrunch got in touch with the SEC, but it declined to comment.

Robinhood planned to start shipping its Mastercard debit cards to customers on December 18th with users being added off the waitlist in January. That may now be delayed due to the insurance problem and it’s announcement that it will change how it works and is positioned.

Robinhood touted how its checking and savings features have no minimum account balance, overdraft fees, foreign transaction fees or card replacement fees. It also has 75,000 free-to-use ATMs in its network, which Bhatt claims is more than the top five U.S. banks combined. And its 3 percent interest rate users earn is much higher than the 0.09 percent average interest rate for traditional savings, and beats  most name-brand banks outside of some credit unions.

But for those perks, users must sacrifice brick-and-mortar bank branches that can help them with troubles, and instead rely on a 24/7 live chat customer support feature from Robinhood. The debit card has Mastercard’s zero-liability protection against fraud, and Robinhood partners with Sutton Bank to issue the card. But it’s unclear how the checking and savings accounts would have been protected against other types of attacks or scams.

Robinhood was likely hoping to build a larger user base on top of its existing 6 million accounts by leveraging software scalability to provide such competitive rates. It planned to be profitable from its margin on the interest from investing users’ money and a revenue-sharing agreement with Mastercard on interchange fees charged to merchants when you swipe your card. But long term, Robinhood may use checking and savings as a wedge into the larger financial services market from which it can launch more lucrative products like loans.

That could fall apart if users are scared to move their checking and savings money to Robinhood. Startups can suddenly fold or make too risky of decisions while chasing growth. Robinhood’s valuation went from $1.3 billion last year to $5.6 billion when it raised $363 million this year. That puts intense pressure on the company to grow to justify that massive valuation. In its rush to break into banking, it may have cut corners on becoming properly insured. It’s wise for the company to be rethinking the plan to ensure it doesn’t leave users exposed or hurt its reputation by launching without adequate protection.

[Update 12/14/2018 9:30pm pacific: This article has been significantly updated to include information about Robinhood planning to change its checking and savings feature before launch to ensure users aren’t in danger or losing their money.]

[DIsclosure: The author of this article knows Robinhood co-founders Baiju Bhatt and Vlad Tenev from college 10 years ago.]

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Feb
02

February 7 – Rendezvous with Sramana Mitra in Menlo Park, CA - Sramana Mitra

In the world of entrepreneurship, there are endless things to do. Tasks, to do lists, new initiatives, new projects, and P1s. Leaders spend a lot of time planning, especially in the context of “we have to grow more, do more, and get bigger.”

Lately, I’ve been suggesting to a few of the CEOs who I work with to make a “2019 Won’t Do List.” While this is a high-level list of things not to do, it can be on multiple dimensions.

I like to start with things that often are optional, but consume a lot of time and energy. Examples would be “an acquisition” or “a financing” or “an IPO.” Let’s take “acquisition” as an example. Assume you are a fast growing company with plenty of financial resources. Maybe you’ve made some acquisitions in the past. But, you haven’t thought about it specifically, so it’s a reactive or opportunistic move. It’s very freeing to decide “this year we aren’t making any acquisitions and we aren’t going to be distracted by the motion around an acquisition.”  The nice thing about being a CEO, especially of a company in a strong position, is that you can change your mind. But by declaring what you won’t do up front for some time, it makes the decision one where you have to actively change your mind about what you won’t do.

Then, I like to roll into metrics that create a floor on how the business will operate. For example, “We won’t have a month of negative EBITDA.” Or, “well never have negative cash flow of more than $500,000.” Or, we won’t hire anyone new, other than replacing attrition, until after we have revenue of $X / person.” These are different than what your goals are, where the goals look like “We are going to grow 10% month over month” or “We will adhere to the rule of 40 for a healthy SaaS company.”

Then, I like to end by pushing the CEO to define personal Won’t Dos. These can be behavioral or functional. Most people are comfortable with the functional ones, but struggle to identify the behavioral ones. I like the struggle around this – it almost always generates fascinating conversations that are highly personal.

An example of something from my Won’t Do list is “take on another book project.” I have several that I’m working on and I’m happy about them, but once I’m finished with them, I’m not going to do any more non-fiction for a while. I have a desire to write some near-term science fiction and see if I’m any good at it. Since I want to finish the projects I have and know that I have poor impulse control around says “sure – I’ll work on that book project,” by putting this on my Won’t Do list for 2019, I say no to everything.

A personal example on my Won’t Do list is “buy another big thing other than art” (e.g., house, car). I’ve got enough. Amy and I talked about this around my birthday (she was looking into getting me a new car) and I didn’t want one. I suggested that we buy a half dozen Subarus and park them in front of my friend Dave’s house (Dave hates Subarus) and call them an “art installation” instead. As I thought through this, I realized I don’t want something new like this for a while. In contrast, I exempted art because when I thought about it, I wanted to buy some additional art this year (especially sculpture.)

What’s on your Won’t Do list for 2019?

Also published on Medium.

Original author: Brad Feld

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Dec
14

Last call for Polish pitch-offs

I’m heading back to Europe to hang out in Wroclaw and Warsaw so it’s last call for pitch-off applications.

I’ll be at a Wroclaw event, called In-Ference, which is happening on December 17; you can submit to pitch here. The team will notify you if you have been chosen. The winner will receive a table at TC Disrupt in San Francisco.

The Warsaw event, here, is on the 19th at WeWork in Warsaw. You can sign up to pitch here. I’ll notify the folks I’ve chosen and the winner gets a table at TC Disrupt, as well.

Special thanks to WeWork Labs in Warsaw for supplying some beer and pizza for the event and, as always, special thanks to Dermot Corr and Ahmad Piraiee for putting these things together. See you soon!

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Dec
14

Billion Dollar Unicorns: Lime Rides its way into the Club - Sramana Mitra

The ride-sharing industry is going through an overhaul with the rapid emergence of bikes and scooters to address the demand for “micro-mobility”. According to CB Insights, more than 60% of US trips...

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Original author: MitraSramana

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Jan
18

LaunchDarkly CEO Edith Harbaugh explains why her company raised another $54M

Matthew Sappern: Where computers are so helpful with that, as you can imagine, is computers don’t get tired. They’re not getting  coffee or arguing with someone. They look at the same series of data...

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Original author: Sramana Mitra

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Oct
05

You can now share Spotify songs and playlists easily with your Snapchat friends — here's how (SPOT, SNAP)

TransferGo, the London-based international money transfer startup, has raised just over $17.6 million in Series B funding, including an earlier tranche of funding closed in May. The round is led by Vostok Emerging Finance and Silicon Valley’s Hard Yaka, with participation from Revo Capital, U-Start Club and Practica Capital. The figure also includes around $830,000 in equity crowdfunding via Seedrs.

Founded in 2012, TransferGo currently operates in 47 countries around the world, with offices in London, Vilnius, Berlin, Warsaw and Istanbul. It claims a customer base of 833,000 users, adding more than 1,000 new customers per day, and positions itself as offering one of the fastest international money transfer services on the market. This sees it able to provide international “cross-network” transfers in 30 minutes.

The fintech company also recently launched a free international money transfer service, with what it says is a a zero transaction fee and with no mark-up on exchange rates, allowing customers to transfer money globally at no cost. Essentially, if you aren’t time-sensitive or perhaps are transferring larger amounts, you can elect to use the free tier. If you need a guaranteed arrival time for the money you are sending, you can use the paid tier, which still looks pretty competitive.

In a call and over follow-up emails, TransferGo co-founder and CEO Daumantas Dvilinskas explained that the fintech has built out its own “proprietary technology and infrastructure” to enable it to do 30-minute transfers on the corridors it offers and at a cost that remains low. This means having partner bank accounts as close to the final destination as possible, and re-routing the money being transferred to avoid unnecessary charges and to enough volume to afford economies of scale at the point of conversation.

“We cross-sell our customers different delivery options based on how quickly they want to receive the money,” Dvilinskas tells me. “The TransferGo Now product, where customers can get a 30-minute guarantee, together with other speedy delivery options, effectively pays for the TransferGo Free product… At the same time, economies of scale have been decreasing our direct cost of transactions to a point when we can offer the free product in a sustainable fashion.”

Dvilinskas says TransferGo’s typical customer is “a global citizen” who receives a salary abroad and sends around $500 back home every month. “Before using us they would have been using a cash bureau, bank or PayPal. In addition to this core segment, we see a growing larger transaction segment who are leveraging our competitive currency conversion rate for larger transactions to pay bills or buy goods abroad,” he adds.

Historically, TransferGo launched to enable people in the U.K. to send money to Central and Eastern Europe, a corridor where it claims 20 percent market share (based on the World Bank data). However, the fastest growing corridors today are Continental Europe to Ukraine, Turkey, India and other emerging market destinations.

“Specifically, Poland, Germany and Turkey are emerging as important send markets, which is where we opened up offices last year,” says Dvilinskas.

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