Jul
02

Michael Dell will give up his power to never be fired after Dell becomes a public company again (VMW)

Amazon appears to be discouraging its sellers who use the Fulfillment by Amazon program from sending more dangerous items into its warehouses.

FBA is a program in which third-party sellers send their goods to be stored in Amazon warehouses before they are sold on Amazon.com. Items are then shipped out like a normal order by the e-commerce giant.

Amazon announced on its seller forum last Wednesday that it will be introducing a new fee for "dangerous" items like aerosol cans and lithium-ion batteries that sellers send to Amazon warehouses. The fees are higher than the regular fees Amazon charges for using Fulfillment by Amazon.

For example: a normal item with a shipping weight of between 10 and 16 ounces and is considered small would qualify for a fee of $2.48, while a "dangerous" item the same size would carry a charge of $3.45.

Amazon has a full list of items it considers "dangerous," which mostly consists of items that are "flammable or pressurized aerosol substances and items that contain lithium-ion batteries."

The new fees will go into effect on February 19, 2019, according to a note on Amazon's forum for sellers. Amazon did not immediately respond to Business Insider's request for further comment.

Amazon may have made it more expensive to sell and fulfill these risky items to discourage FBA sellers from sending them to warehouses. Earlier this month, a can of bear spray fell off a shelf in Amazon's warehouse in Robbinsville, New Jersey. The can released fumes into the fulfillment center, injuring workers.

Read more: 54 workers became sick and one is in critical condition after a can of bear repellent released fumes in an Amazon warehouse

Twenty-four people were sent to local hospitals, and one was in critical condition, local officials said. In total, 54 workers were affected by the incident.

Those affected reported having difficulty breathing and experiencing a burning sensation in the eyes and throat. Bear repellent is mostly made of capsaicin, the chemical found in hot peppers.

This isn't the first time a can of bear repellent has exploded in an Amazon warehouse, according to Wired, which reported that two other similar incidents occurred in 2015 and earlier this year.

Original author: Dennis Green

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Jul
02

Samsung smartphone users are reporting that their photos are randomly being sent to contacts without their knowledge

With the markets in turmoil, shedding loads of value seemingly by the day across the board, it's no longer a sure thing to bet on the tech sector or even its most prominent companies.

It used to be that investors could put some money in the famous FAANGs — Facebook, Apple, Amazon, Netflix, and Google parent company Alphabet — and be assured of doing well. But Apple and Google's stocks are down for the year, and Facebook's has fallen off a cliff. While both Amazon and Netflix's shares are still up for the year, they're way off their highs.

Read this: Dow drops 640 points for the worst Christmas Eve trading day on record

What's more, Wall Street analysts are forecasting that the technology sector's profit growth rate will slow dramatically next year after being boosted by President Donald Trump's tax cut this year, said Dan Morgan, a long-time tech investor with Synovus.

Going into 2019, "you just have to be very discerning in the tech sector," said Morgan, a portfolio manager at Synovus Trust. He continued: "You have to do your homework and zero in on some of [the] trends."

So what's an investor to do? What are the big trends to watch?

Many tech sectors are looking uncertain right now, said Morgan. Although he's not predicting a recession next year, he does think economic growth will slow, and that will hit some areas harder than others.

The consumer sector in particular looks shaky right now, because many of the big companies face other obstacles in addition to a potential economic slowdown, he said.

Apple's stock, for example, is highly dependent on its ability to sell iPhones, and those sales have started to decline, he noted. Google and Facebook's business models, built around collecting highly personal information from consumers, have come under increasing scrutiny of late amid a series of privacy and other scandals.

Netflix and Amazon's stocks and businesses have held up, but both look to be the exceptions in the consumer technology sector that prove the rule, he said.

So Morgan's advice is to look to the cloud.

Spending on cloud services is growing at a rapid rate as businesses of all sizes increasingly shift their technology spending to them and away from their own data centers, Morgan said. The industry will soon see a $10 billion windfall from the US Defense Department, which is planning to move some of its own computing infrastructure to the cloud as part of its Joint Enterprise Defense Infrastructure (JEDI) program, he noted.

"That's an area that's still very strong," he said.

In fact, he thinks the prospects for the area are so good, his theme or 2019 is "roll into the cloud."

With that in mind, here are Morgan's top picks in tech going into 2019:

Original author: Troy Wolverton

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Dec
24

An Audible gift subscription is a thoughtful present for people who love to read — and it starts at $15

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.

Holiday shopping used to mean going to a store, fighting for a parking spot, hoping what you wanted was in stock, waiting in line, then getting home. Online shopping has turned that nightmare into a couple of clicks you can make in your pajamas from bed.

To make things even easier, we've even done the work of finding the perfect gifts for you.

If you're shopping for someone who wished they read more but "doesn't have the time," a gift subscription to Audible is a very thoughtful choice. Audible's audiobook library has over 425,000 titles from every era and genre, so it's likely that many of the titles on their "to read" list are available.

Gift memberships start at $15 for one month, $45 for three months, $90 for six months, and $150 for 12 months. Your giftee will receive one "credit" per month, which they can spend on the book of their choice, plus two free "Audible Originals," which are shorter books and stories exclusive to the service. They'll also get a couple of additional Audible member benefits for the duration of their membership: a 30% discount on all audiobooks, and free audiobook exchanges.

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Once they've made a book selection, it's extremely easy to start listening whenever and wherever, without losing their spot.

They can use the Audible app, which is available on iOS and Android, a built-in Audible player on Amazon's Fire Tablets, or the Kindle Paperwhite and Kindle Oasis. They'll also have the ability to import Audible books into iTunes, and there's a cloud player on Audible's website. They can even ask an Amazon Echo to play it.

Audible will automatically remember and sync their place between devices, so if your giftee listens to part of a book on their phone during a morning commute, they can pick up exactly where they left off on their office computer.

One of the best features of an Audible subscription is that you don't lose access to your audiobook library when your subscription ends. If the person you gift a subscription to really loves Audible, they can continue their subscription immediately after the gift period is over. If not, they can continue to listen to the audiobooks as many times as they'd like.

This lack of pressure is part of what makes an Audible subscription such a great gift. The person you gift it to will never feel the pressure of having to continue their subscription, and there are no penalties if they don't.

Whether the lapsed reader in your life is worried about not having enough time read, or doesn't have the space to carry around books all the time, an Audible subscription is a wonderful gift that fixes both of their problems. They'll have it with them at all times, and it'll help them turn their downtime into an opportunity to hear an interesting story or learn something new.

Gift an Audible subscription from $15 here >>

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
27

Boulder Non-Profits to Support for Covid-19 Relief

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence,click here.

The smartphone is getting smarter as tech and internet companies inject increasingly sophisticated computer vision and object recognition functions into their hardware and software. The ability to "understand" what the user is pointing their mobile camera at and "read" the image has opened the door for visual search.

BI Intelligence

Foreseeing the potential for mobile visual search to create new revenue opportunities, brands are attempting to harness the smartphone camera's increasing sophistication to engage with consumers and drive sales.

In The Mobile Visual Search Explainer, Business Insider Intelligence analyzes the developing technologies behind mobile visual search and its value to businesses and brands. The report also assesses risks and opportunities inherent in developing a visual search strategy, provides a list of companies that are working in the space, and discusses what they've accomplished so far.

Here are some of the key takeaways from the report:

There is strong evidence that mobile visual search technology will take off in the near future, including growing access to technology, strong usage rates of camera-related apps, and early indication of potential revenue growth. In some instances, visual search is faster and more accurate than text or voice, as it cuts through consumer-introduced ambiguities. The mobile visual search ecosystem is growing, with a slew of enabling platforms, native apps, and internet companies all broadening their expertise in the field. Leading internet search companies, including Google and Baidu, are in a race to capture the mobile visual search market as it begins to eat into traditional forms of search. The smartphone is the perfect launchpad for visual search technology, but new form factors, like smartglasses, hold great potential.

In full, the report:

Provides an argument for the potential uptake of mobile visual search technology by tech companies, brands, and consumers. Outlines the current mobile visual search landscape. Explains how startups and tech companies with mobile visual search products are evolving their business strategies. Provides an outlook for the future of the mobile visual search industry.
Original author: Laurie Beaver

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Dec
24

Google in 2018: The good, the bad, and the ugly (GOOG, GOOGL)

Like Apple and its iPad Pro, Google also made a special keyboard and stylus that work specifically with the Pixel Slate.

The Pixel Slate starts at $600, the Pixel Slate Keyboard costs $200, and the Pixelbook Pen costs $100.

Original author: Dave Smith

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Jan
29

BigID pulls in $14 million Series A to help identify private customer data across big data stores

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here.

The mobile augmented reality (AR) market is quickly becoming primed for the retail space. By blending the online and in-store shopping journeys, mobile AR promises to provide an immersive digital shopping experience unlike anything shoppers have seen before.

Business Insider Intelligence

Mobile AR is one of the most coveted technologies for improving the digital shopping experience among consumers. That's because mobile AR can be used to bring the in-store experience to consumers' homes by recreating the try-on experience. It allows online shoppers to test out multiple sizes and variations of products, or just see what a product looks like overlaid into their home — without making a true commitment to the purchase or a trip to the store. It can also be used in-store to quickly provide product information or guide users to the right item using location-based services.

Retailers that meet this need for mobile AR stand to pull ahead of the competition. Mobile AR can help build brand loyalty, heighten engagement, increase geographical customer reach, shorten conversion times, boost purchases of larger items, and cut down on returns.

In The Mobile AR Opportunity in Retail Report, Business Insider Intelligence examines the importance of mobile AR to businesses in the retail space, explores the various ways brands are utilizing mobile AR to enhance the customer experience as well as their own, and determines the factors retailers should consider when devising a mobile AR strategy.

Here are some of the key takeaways from the report:

Nearly 75% of consumers already expect retailers to offer an AR experience. Mobile AR retail experiences are more likely to come to fruition as Apple and Google continue to build out their AR developer platforms, ARKit and ARCore, respectively, which will expand the addressable market exponentially. Retailers in certain segments, including furniture and home improvement, as well as beauty and fashion, have been the first to jump on the mobile AR bandwagon through their own apps. These sectors appear to have the most immediate need for mobile AR strategies, as trying out furniture and clothes are two of the most coveted AR use cases by consumers. Social media is emerging as a prominent channel for retailers to reach consumers through mobile AR experiences. Platforms like Facebook and Snapchat continue to build out tools that businesses and developers can utilize to enhance their advertising strategies with immersive experiences. But retailers will have to consider several factors before implementing their mobile AR strategies. These include the cost of building AR experiences, the availability of AR-compatible smartphones, consumer awareness of mobile AR apps, and the quality of mobile AR content.

In full, the report:

Explores the ways mobile AR brings value to the customer shopping experience. Highlights how the consumer benefits of mobile AR can be transformed into valuable outcomes for retailers. Discusses how major retail brands are leveraging mobile AR to enhance the customer journey, and what goals they are striving to achieve. Outlines the several factors retailers and brands will have to consider before implementing their mobile AR strategies.
Original author: Rayna Hollander

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Mar
27

Elastic Investing in Product Upgrades for Enterprises - Sramana Mitra

Ryan Kelley, a former safety driver for Uber's autonomous vehicle program, told Business Insider he felt as if he wasn't allowed to take bathroom breaks the month before he was fired.

Kelley described December, 2017, as a stressful month for Uber's autonomous driving team, which was under pressure to log as many test miles as possible. Stopping a test vehicle for a bathroom break could disturb it and ultimately require up to an hour of rebooting or troubleshooting, Kelley said, which would decrease the number of miles it would drive.

"They made it clear you probably should hold it," he said.

Read more: Uber employees describe a stressful and 'ridiculous' culture at the self-driving car unit under its current leader Eric Meyhofer

Uber's autonomous driving software was prone to overly aggressive braking on one day that month, leaving Kelley's vision blurred and stomach upset, he said. He described the experience of operating the vehicle that day as similar to "being in a series of low-end collisions for three hours, with my head slamming against the headrest constantly."

Kelley and other drivers told their supervisors about the headaches they experienced that day. After the manager responsible for safety, Rob Shoup, heard about the drivers' complaints, he accused the drivers of faking their symptoms.

"They are just faking it, trying to shirk work," Shoup said, according to Kelley (although Uber denies that Shoup accused anyone of faking their complaints).

Kelley left work early that day and was diagnosed with a mild concussion "consistent with symptoms for a low-speed car accident," after his wife made him go the emergency room, he said.

He said he brought his ER diagnosis to work the next day as evidence of his and the other safety drivers' headaches and reported Shoup's comment to Uber's human resources department.

About a month later, on January 26, Kelley was fired.

Uber's HR told him he had let the car roll through a stop sign on January 3 and failed to report it. Kelley denied that this incident occurred to Business Insider and told us he was never shown the car's video of the incident. Uber says that after initially denying it, Kelley later admitted fault and apologized. His apology did not get him reinstated to his job.

"I truly believe I was let go because I was a squeaky wheel. I made safety concerns," he said.

In an emailed statement, Eric Meyhofer, the current leader of Uber's self-driving car unit, acknowledged that the team made "missteps" in the past but said it had done some soul-searching in the nine months since the fatal accident.

"Our team continues to demonstrate a strong commitment to building a culture rooted in safety, transparency, and continuous improvement across every facet of our self-driving development," he said. "While we have made some missteps in the past, we are optimistic that the changes we've made over the last 9 months reflect the kind of culture we want to foster at ATG."

Uber received permission on December 18 to resume testing its self-driving vehicles on public roads in Pittsburgh, nine months after a fatal accident in Arizona.

Have you worked for Uber? Do you have a story to share? Email this reporter at This email address is being protected from spambots. You need JavaScript enabled to view it..

Original author: Mark Matousek and Julie Bort

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Dec
24

The 25 most valuable American startups that died in 2018

Having millions of dollars in backing from venture capitalists doesn't guarantee the longevity of a startup.

Even well-established private companies are at constant risk of failure, as evidenced by some of the startups that went out of business this year. PitchBook compiled data on the 25 most valuable startups that failed in 2018; three of these companies have been around for more than 20 years and were still forced to shutter.

Startups in the healthcare industry took a big hit — seven companies on the list are in the medical sector.

The list is headed by Theranos, the blood-testing company, whose $9 billion valuation was greater than those of all the other startups on the list combined. It ultimately flamed out after a series of Wall Street Journal reports raised serious questions about its technology.

Here are the 25 most valuable VC-backed startups that failed in 2018:

Original author: Paige Leskin

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Dec
24

Watch this hilarious bad lip reading of Apple's product launches

Original author: Paige Leskin

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Dec
24

The 5 biggest things to expect from PlayStation in 2019 (SNE)

It's true: Sony has already announced its ongoing work on a successor to its current game console, the PlayStation 4 — which it may have already hinted will be called (what else) the PlayStation 5.

Starting as early as May 2018, Sony executives were openly discussing work on the new console. And with PlayStation skipping the game industry's annual June trade show, E3, for the first time ever, it's entirely possible that the company will hold its own event specifically to announce the next PlayStation.

That said, we know little about what the console will be. We do know that it might not arrive until 2021.

"We will use the next three years to prepare the next step," PlayStation head John Kodera said in May.

Here's what we expect from the next PlayStation console:

1. More horsepower, offering 4K/HDR support natively and, likely, support for G-Sync/FreeSync. 2. Backwards compatibility: Support for PlayStation 4 games, and potentially more. 3. A new, more powerful virtual reality headset. 4. An evolution of the PlayStation Now streaming service, potentially with PlayStation 5 games outright streamable.

Original author: Ben Gilbert

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Jul
10

Lodgify, the SaaS for vacation rentals, books $5M in Series A funding

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.

Gifting is hard.

Let's face it; no matter how many gift guides you scour through, how many hours you pour into trying to find a website where their size is in stock, or how much you spend, you can never really know what someone wants — unless you ask them of course, but we're trying to be discreet here.

Choosing that unexpected, yet perfect gift that wows the recipient is a great feeling, but the other end of the spectrum isn't so pretty. A lackluster gift — or one that's really great but just not really their taste — will likely end up in the overflow hall closet, brought to a White Elephant party, or even worse, back to the store where it was purchased.

If you've ever been in this predicament, or are currently in this predicament because you couldn't land on that totally perfect gift, that's okay; we found a surefire way to solve your holiday gifting woes.

GiftNow is a new service that takes the guesswork out of gifting — and honestly, I can't believe it didn't exist before.

Essentially, GiftNow lets you instantly send someone a mold of the gift you want to get them, and then the recipient can take it from there, personalizing with their correct size and preferred color. It's a simple process that ensures your gift recipient will get something they love.

To better understand the concept, we just tested it out. It's an easy-to-use, efficient way to gift — here's how it works.

GiftNow is available at a range of retailers ranging from big-box stores like Target, to high-end department stores like Neiman Marcus and Saks Fifth Avenue.

To test, I went over to Uniqlo where the service is also available.

Find the GiftNow option on the product page at plenty of your favorite retailers. Uniqlo

When you have chosen a product you're interested in, you'll see GiftNow listed with the rest of the purchase options. You don't even have to select a size or color; simply choose to GiftNow. Once you click, you'll be directed to the GiftNow window, which explains how the service works and lets you choose how you want to give the gift.

You can choose to email, text, Facebook message, or hand deliver the gift. If you're curious about which you should choose, the window offers very helpful instructions on exactly how each method differs.

Then choose from a few designs — I went for the festive and personal "Just For You." Write a custom greeting to go with the gift and finish off with the standard salutations of "To" and "From" — then your gift is ready to be given. The link is ready instantly, so you can choose when to send it to your giftee. If you're emailing it directly to them, you can have it sent immediately or schedule it for a specific date and time.

Personalize messages, designs, and more before it's sent to your recipient. Uniqlo

The gift comes to your recipient looking as much like an actual present as an online gift can — a gift box that opens to reveal a picture of the item you chose.

Once your recipient opens the gift, the rest of the process is in their hands.

From there, they choose their preferred size and color of the product and where they want it shipped. If they don't like the product at all — sorry — they can exchange it for something else on the site. Since you're actually picking out a gift, this still feels thoughtful and personal, but it also has just the right amount of personalization to guarantee that the person gets something they actually want. Plus, it's ready in a snap, which is great news for us last-minute gifters.

So, this holiday season avoid the awkwardness of choosing the wrong size or picking out a shirt in their least favorite color. With GiftNow you can play it safe, but still manage to give a gift that has that surprise factor. That's a holiday miracle.

Shop gifts at Target, Uniqlo, Neiman Marcus, Saks Fifth Avenue, Kate Spade, Coach, Michael Kors, and more using GiftNow.

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

Original author: Remi Rosmarin

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Dec
24

Elon Musk revealed his favorite character in 'Super Smash Bros. Ultimate'

With more than three million copies sold in the US in less than two weeks, "Super Smash Bros. Ultimate" is one of the most popular video games of 2018 — and Nintendo can count Tesla CEO Elon Musk as one of its many players.

At its core, the Super Smash Bros. series is Nintendo's love letter to video games. It's a massive crossover between historic franchises that lets players battle each other with their favorite characters.

Seeing Nintendo's iconic characters duking it out side by side is the gaming equivalent of watching The Avengers assemble on screen.

When a Smash fan tweeted at Musk to ask which character he was playing in the new game, Musk responded with Zero Suit Samus, the protagonist of Nintendo's Metroid series.

Samus in her power suit. "Super Smash Bros. Ultimate"/Nintendo

"Metroid" introduced bounty hunter Samus Aran in 1986, but it's not until the end of the game that her face, and more notably her gender, are revealed.

As a space adventurer Samus understandably spends most of her time in her power suit, which also appears in "Super Smash Bros. Ultimate." Zero Suit refers to the rare occassions where Samus is forced to fight without her suit, equipped with rocket boots and her paralyzer pistol.

For dedicated players, choosing a "main" character to play in Smash often says something about your identity as a player. Your character dictates your strategy and also reflects your aesthetic taste.

Read more:What are Elon Musk's favorite video games?

In her skintight outfit, Zero Suit Samus seems ripe for objectification, but she also reflects a cool confidence with a fighting style that remains both lithe and lethal after she's been (literally) stripped of her powerful arsenal of missiles, bombs, and energy cannons.

She also happens to be pretty darn good in the game.

There are plenty of reasons for Musk to choose Zero Suit Samus as his favorite "Super Smash Bros. Ultimate" character, and plenty of fun to be had speculating just how much he knows about the femme fatale. Musk's general love of video games is no secret, so maybe someday we'll see just how well he can smash with Samus.

Original author: Kevin Webb

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Mar
27

Roundtable Recap: March 26 – It’s Therapeutic to Discuss Business in These Troubled Times - Sramana Mitra

Durability is one of the most important factors to consider when buying a car. For the vast majority of consumers, buying new cars on impulse is not a financially or logistically feasible option. And for those who own a single car, a breakdown can be a major disruption to a daily commute or travel plans.

The automotive data and research site iSeeCars.com has compiled a list of the 10 vehicles that are most likely to last for 200,000 miles. The website compiled the list by looking at more than 13.5 million used cars, from model years 1981 through 2017, that were sold in 2017 and tracking which models were most likely to have at least 200,000 miles at the time of sale.

Seven of the 10 spots on the list were taken by SUVs, with the other three taken by a pickup truck, minivan, and sedan. Toyota and General Motors each have four vehicles on the list, more than any other automaker. The Toyota Sequoia took the top spot, with 6.6% of the used Sequoias analyzed by iSeeCars being sold with at least 200,000 miles. The average across all vehicles was 1.2%.

These vehicles are the most likely to last 200,000 miles. Next to each vehicle is the percentage, between model years 1981 and 2017, that were sold used with at least 200,000 miles in 2017, according to data analyzed by iSeeCars.com.

Original author: Mark Matousek

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Dec
24

This is why the US military has tracked Santa Claus every Christmas since 1955

Santa's on his way. AP Photo/Dusan Vranic

Today, the North American Aerospace Defense Command — better known as NORAD — celebrates its 63th year of tracking Santa Claus on his annual Christmas Eve flight around the world.

It's a veritable Christmas tradition in the United States.

Even tech giants like Google have gotten in on the action, using NORAD's data to give kids a map showing where Santa's sleigh is flying, right up until Christmas morning.

You can track Santa's flight on Google, here, or via NORAD directly, here.

(And in case you were wondering: No, this project isn't affected by the current partial government shutdown. The project is staffed by volunteers and was already previously funded in full, the AP reports.)

Read more: Here's how to track Santa's Christmas Eve journey around the world

But 63 years is a long time. There weren't cell phones back then. Or personal computers. Back when it started, the only way to find out Santa's location was a phone call.

The whole thing started in 1955.

As NORAD's own story goes, a Colorado Springs-area Sears store printed a newspaper ad urging children to dial in to talk to Santa. Except there was a typo, and the number actually went to CONAD, a military agency charged with spotting nuclear missiles fired from the Soviet Union.

When a child called in to CONAD on Christmas Eve asking where Santa was, man-in-charge Colonel Harry Shoup first thought it was a prank call. But then he decided to run with it, ordering his men to field calls from children on Santa's whereabouts all night.

A heartwarming tradition was born.

Members of the American Air Force track Santa in 2008. Wikimedia Commons

Unfortunately, this version of history doesn't really hold up to scrutiny, as reported by Gawker's Paleofuture back in 2015.

The part about a kid dialing into CONAD asking about Santa was true, but it was in late November, not Christmas Eve. There was probably no typo in that Sears ad; the kid just dialed a wrong number. And Shoup didn't really have that great a sense of humor.

The more cynical version of the story is that the US military saw an opportunity to score some PR points with the public at the height of the Cold War, and took inspiration from that kid's call for a marketing stunt.

By Christmas, CONAD and the United States military were boasting how it would keep tabs on Santa and the North Pole, just in case the Soviet Union tried to wage a real, actual war on Christmas. Really.

Regardless of its origins, NORAD Tracks Santa grew from there into something that kids have looked forward to for generations.

Track Santa via Google here.

Original author: Matt Weinberger

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Mar
27

Bootstrapping a Perishable Meat Business To Significant Scale: ButcherBox CEO Mike Salguero (Part 2) - Sramana Mitra

Gatwick Airport is Britain's second busiest by passenger volume, and Europe's eighth. And yet it was brought to a standstill for two days by two people and a single drone.

Its vulnerability reminded me of a conversation I had two years ago, at the Web Summit conference in Lisbon with cybersecurity investor Sergey Gribov of Flint Capital. He was talking up one of his investments, an industrial cybersecurity firm based in Israel called CyberX. Half-bored, I girded myself for his pitch. They usually go like this: "The internet is full of hackers! They want to steal your data and your money! If only companies used my company's awesome product, we would all be safe!"

I have heard hundreds of pitches like this.

But my conversation with Gribov was different. It was ... extreme. The criminals who break into the web sites of banks or chainstores and steal personal data or money are not the scariest people out there, he told me. The hackers we really ought to be worrying about are the ones trying take entire countries offline. People who are trying to take down the internet, switch the lights off, cut the water supply, disable railways, or blow up factories.

The West's weakness is in the older electronics and sensors that control processes in infrastructure and industry. Often these electronics were installed decades ago. The security systems controlling them are ancient or non-existent. If a hacker can gain control of a temperature sensor in a factory, he — they're usually men — can blow the place up, or set it on fire. "The problem people don't realise is it becomes a weapon of mass destruction. You can take down a whole country. It can be done," he said.

And then, how do you respond? Does the country that was attacked — the one struggling to get its power grid back online — launch nukes? Probably not, he said, because "you have no idea who did it."

"You can have a team of five people sitting in a basement and be just as devastating as WMDs," he said. "It's really scary. In some sense it's a matter of time because it's really easy."

At the time, I discounted my conversation with Gribov. His VC fund was invested in CyberX, so he had an obvious interest in propagating the idea that the world is full of bad guys.

But in the years since we talked, two unnerving things happened.

"Someone is learning how to take down the Internet," Bruce Schneier, the CTO of IBM Resilient believes

The scope of the 2016 internet outage after the attack on Dyn.Wikimedia, CCBoth attacks were conducted by relatively unsophisticated actors. The Dyn attack was done by three young men who had created some software that they merely hoped would disable a competitor's company, until it got out of control. The Mauritania attack was probably done by the government of neighbouring Sierra Leone, which was trying to manipulate local election results by crippling the media.

Apparently, it is possible to take the world offline.

It's not merely that "someone" out there is trying to figure out how to take down the internet. There are multiple someones out there who want that power. In June 2018, Atlanta's city government was hobbled by an attack that wiped out a third of its software programs. The FBI told Business Insider earlier this year that it believed terrorists would eventually attempt to take America's 911 emergency system offline.

"Someone is learning how to take down the Internet," Bruce Schneier, the CTO of IBM Resilient believes.

Three major power suppliers simultaneously taken over by hackers

Next, I talked to Nir Giller, cofounder and CTO of CyberX. He pointed me to the December 2015 blackout in Ukraine, in which three major power suppliers were simultaneously taken over by hackers. The hackers gained remote control of the stations' dashboards, and manually switched off about 60 substations, leaving 230,000 Ukrainians in the cold and dark for six straight hours.

The hack was almost certainly done by Russia, whose military had invaded Crimea in the south of the country in 2014.

"It's a new weapon," Giller says. "It wasn't an accident. It was a sophisticated, well-coordinated attack."

The fact that the hackers targeted a power station was telling. The biggest vulnerabilities in Western infrastructure are older facilities, Giller believes. Factories, energy plants, and water companies all operate using machinery that is often very old. New devices and software are installed alongside the older machinery, often to control or monitor it. This is what the industrial "internet of things" looks like. Hackers don't need to control an entire plant, the way they did in Ukraine. They only need to control an individual censor on a single machine. "In the best-case scenario you have to get rid of a batch" of product, Giller says. "In the worst case, it's medicine that is not supervised or produced correctly."

CyberX has done work for the Carlsbad Desalination Plant in California. It claims to be the largest seawater desalination plant in the US. And it serves an area prone to annual droughts. Giller declined to say exactly how CyberX protects the plant but the implication of the company's work is clear — before CyberX showed up, it was pretty easy to shut down the water supply to about 400,000 people in San Diego.

2010 was the year that cybersecurity experts really woke up to the idea that you could take down infrastructure, not just individual companies or web sites. That was the year the Stuxnet virus was deployed to take down the Iranian nuclear program.

"Stuxnet in 2010 was groundbreaking"

The principle behind Stuxnet was simple: Like all software viruses, it copied and sent itself to as many computers running Microsoft Windows as it possibly could, invisibly infecting hundreds of thousands of operating systems worldwide. Once installed, Stuxnet looked for Siemens Step7 industrial software. If it found some, Stuxnet then asked itself a question: "Is this software operating a centrifuge that spins at the exact frequency of an Iranian nuclear power plant that is enriching uranium to create nuclear weapons?" If the answer was "yes," Stuxnet changed the data coming from the centrifuges, giving their operators false information. The centrifuges stopped working properly. And one-fifth of the Iranian nuclear program's enrichment facilities were ruined.

"Stuxnet in 2010 was groundbreaking," Giller says.

North Korean leader Kim Jong Un and his sister Kim Yo Jong on April 27, 2018. North Korea is a major provider of malware. Korea Summit Press Pool via Reuters

Groundbreaking, but extremely sophisticated. Some experts believe that the designers of Stuxnet would need access to Microsoft's original source code — something that only a government like the US or Israel could command.

Russia is another state actor that is growing its anti-infrastructure resources. In April 2017 the US FBI and the British security services warned that Russia had seeded UK wifi routers— the little boxes that serve wireless internet in your living room — with a hack that can read all the internet traffic going through them. It's not that Vladimir Putin wants to see what you're looking at on Pornhub. Rather, "What they're doing there is building capability," says Andrew Tsonchev, the director of technology at Darktrace Industrial, a London-based cybersecurity firm that specialises in artificially intelligent, proactive security. "They're building that and investing in that so they can launch attacks from it across the world if and when they need to."

A simple extortion device disabled Britain's largest employer in an afternoon

Then, in 2017, the Wannacry virus attack happened. Like Stuxnet, Wannacry also spread itself through the Microsoft Windows ecosystem. Once activated, it locked up a user's computer and demanded a ransom in bitcoin if the user wanted their data back. It was intended as a way to extort money from people at scale. The Wannacry malware was too successful, however. It affected so many computers at once that it drew attention to itself, and was quickly disabled by a security researcher (who ironically was later accused of being the creator of yet another type of malware).

During its brief life, Wannacry became most infamous for disabling hundreds of computers used by Britain's National Health Service, and was at one point serious threat to the UK's ability to deliver healthcare in some hospitals.

The fact that a simple extortion device could disable Britain's largest employer in an afternoon did not go unnoticed. Previously, something like Stuxnet needed the sophistication of a nation-state. But Wannacry looked like something you could create in your bedroom.

A screenshot shows a WannaCry ransomware demand, provided by cyber security firm Symantec. Thomson Reuters

Tsonchev told Business Insider that Wannacry changed the culture among serious black-hat hackers.

"It managed to swoop across, and burn down huge sectors in different countries for a bit," he says. "In the course of that, the shipping industry got hit. We had people like Maersk, and other shipping terminals and operators, they went down for a day or two. What happened is the ransomware managed to get into these port terminals and the harbours that control shipping ... that intrigued attackers to realise to realise that was something they could deliberately try and do that wasn't really in their playbook at that point."

"Oh look, we can actually start to do things like take down manufacturing plants and affect the global shipping industry"

"So this year, we see follow-on attacks specifically targeting shipping terminals and ports. They hit the Port of Barcelona and the Port of San Diego and others. That seemed to follow the methodology of the lessons learned the previous year. 'Oh look, we can actually start to do things like take down manufacturing plants and affect the global shipping industry.' A couple years ago they were just thinking about stealing credit card data."

Another scary thing? The Wannacry attack was in May 2017. By December 2017, the US government confirmed that the North Korean government was responsible for the attack. The North Koreans probably just wanted money. The hermit-communist state is chronically poor.

But it may have taught North Korea something more useful: You don't need bombs to bring a nation to its knees.

Oddly, you have a role to play in making sure this doesn't happen. The reason Russia and North Korea and Israel and the US all got such devastating results in their attacks on foreign infrastructure is because ordinary people are bad at updating the security software on their personal computers. People let their security software get old and vulnerable, and then weeks later they're hosting Stuxnet or Wannacry or Russia's wifi listening posts.

National security is, somehow, about "the absurdity of the mundane," says Tsonchev. "These little annoying popups [on your computer] are actually holding the key to national security and people are just ignoring them. Individuals have a small part to play in keeping the whole country safe."

So if you're casting about for a New Year's resolution right now, consider this one: Resolve to keep your phone and laptop up to date with system security software. Your country needs you.

Original author: Jim Edwards

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Dec
22

Slack apologizes after users who travelled to Iran had their accounts shut down

$7 billion workplace chat app Slack apologized on Friday for mistakenly shutting down the accounts of several users this week in its efforts to comply with US sanctions towards countries like Iran.

Slack said that it uses location information such as IP addresses to block users from countries affected by US trade embargoes and economic sanctions, and that in doing so it "inadvertently de-activated" the accounts of certain users. The company did not specify how the mistake was made, but stressed that it did not block any users based on nationality or ethnicity.

Read more: It looks like Slack, the $7 billion chat app, is banning some users because of Iran sanctions — even if they don't live or work in Iran

Earlier this week, several ethnically Iranian users tweeted their concerns that their accounts were abruptly shut down even though they didn't live in Iran or have any professional ties to the country. One PhD student in British Columbia wondered on Twitter what Slack's basis was for determining his ethnicity.

"We do not collect, use, or possess any information about the nationality or ethnicity of our users," Slack said on Friday.

Several of the affected users had said they recently travelled to Iran, which may have caused Slack to flag their IP addresses.

Slack said it's working on restoring mistakenly blocked accounts, and apologized for not handling the communication well. The company also noted that it will soon begin blocking accounts with IP addresses associated with an embargoed country and said that users traveling to a sanctioned country may temporarily not be able to access their account.

Below is Slack's full apology:

Two days ago, we updated our system for applying location information to comply with U.S. trade embargoes and economic sanctions regulations.

Soon after updating, we discovered that we made a series of mistakes and inadvertently deactivated a number of accounts that we shouldn't have. We recognize the disruption and inconvenience this caused and we sincerely apologize to the people affected by our actions. In fact, we also apologize to the people whose accounts we intended to disable in order to comply with these regulations. We did not handle the communication well and in both cases we failed to live up to our own standards for courtesy and customer-centricity.

We did not block any user based on their nationality or ethnicity. As is standard in the enterprise software industry, Slack uses location information principally derived from IP addresses to implement these required blocks. We do not collect, use, or possess any information about the nationality or ethnicity of our users.

We have restored access to most of the mistakenly blocked accounts, and we are working hard to restore any remaining users whose access was blocked in error. If you think we've made a mistake in blocking your access, please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. and we'll review as soon as possible.

We would also like to notify our users that as we continue to update our systems over the next several weeks, we will soon begin blocking access to our service from IP addresses associated with an embargoed country. Users who travel to a sanctioned country may not be able to access Slack while they remain in that country. However, we will not deactivate their account and they will be able to access Slack when they return to countries or regions for which no blocking is required.

Original author: Rosalie Chan

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Dec
21

The world's most popular video game chat app is now worth more than $2 billion, as it gears up to take on the makers of 'Fortnite'

Discord, the most popular group chat program for video gamers, is now valued at $2.05 billion after raising $150 million in a new funding round, it announced on Friday. The round was led by Greenoaks Capital and also includes participation from Firstmark, Tencent, IVP, Index Ventures, and Technology Opportunity Partners.

Since its launch in 2015, Discord has drawn in more than 200 million users worldwide. The chat program offers a variety of impressive features for free, and lets users create and customize their own voice and text chat channels. It's become one of the premiere places for online communities to gather. The company was last valued at $1.65 billion in a funding round earlier this year.

Having established a huge userbase, Discord launched a new online store within the chat platform earlier in October. The majority of the games offered in the store come from independent developers, and Discord recently announced that creators would earn 90% of the revenue generated from each sale. Those who subscribe to Discord's "Nitro" service pay $99/year or $9.99/month to gain unlimited access to more than $1,000 worth of games from the store, and gain additional chat features.

Notably, this new store places into competition with some industry heavyweights: The Discord Store goes right up against Steam, far and away the largest PC digital games store, as well as the new Epic Games, from the creators of "Fortnite." In a bid to win developer support, Discord and Epic alike are offering developers more favorable terms than Steam, which usually takes a 30% cut of all sales.

At the same time, Discord has courted controversy. The open and relatively anonymous nature of the platform has led white supremacists and other problematic groups to gather on Discord. It was reported that the white supremacist group behind the infamous Unite the Right rally in Charlottesville, Virginia in 2017 used Discord to organize and plan.

Read more:A popular chat app just shut down a major online hangout for the alt-right after Charlottesville

Discord has tried to fight back against bad actors on the platform, banning known servers associated with white supremacy and hate speech, while also working to enforce terms of service that prohibit those behaviors. Still, those communities are said to still linger on the service.

Though the platform started as a niche app for gamers, Discord has secured a foothold as one of the most popular chat services in the world. As the platform continues to grow, the company will be challenged by a welcoming wider range of communities while working to stay true to its core userbase.

As for the future of Discord: It's been reported that the company has been exploring a sale, though it's unclear how raising this funding would affect its intentions in that regard.

Original author: Kevin Webb

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Dec
21

MoviePass's parent company is in dire danger of having its stock delisted by the Nasdaq (HMNY)

The parent company of MoviePass may soon no longer have its shares trading on the Nasdaq market.

The Nasdaq warned Helios and Matheson on Wednesday that it plans to suspend trading in the company's shares on December 28 and will move to have them delisted, Helios and Matheson disclosed Friday in a document filed with the Securities and Exchange Commission. The company plans to delay and potentially head off the delisting by appealing the exchange's decision.

But the company's chances of winning an appeal could be slim. The Nasdaq already decided that it won't give Helios and Matheson a 180-day extension to get its stock back above $1 a share, the standard which it has failed to meet since May of this year.

Helios and Matheson "received a written notice from [Nasdaq's] staff that the company has not regained compliance with [Nasdaq's listing standards] and is not eligible for a second 180-day period because the staff determined that it does not appear that it is possible for the company to cure the deficiency," the company said in its regulatory filing.

The MoviePass owner indicated in the document that it still believes it can boost its stock above $1 a share and regain compliance. It said it would appeal the decision and ask for a delay so that it can reverse split its stock a second time. It also said it would "continue considering all available options to resolve the company's noncompliance" with the listing standard.

Read this:MoviePass' parent company just bought itself more time to live, but it's still in imminent danger of being kicked off the stock exchanges

Nasdaq's rules require it to put the delisting process on hold when a company appeals the delisting decision. Appeals are typically held within 45 days of their filing, according to the document. Should Helios and Matheson not actually appeal the delisting decision or lose its appeal, its shares would likely end up on the over-the-counter markets where they would be more difficult to trade and would likely decline even further than they already have. The company's stock has lost more than 99% of its value this year as its burned through more than $300 million in cash and sold off billions of shares to stay in business.

In June, after Helios and Matheson's stock had been below $1 a share for more than a month, the Nasdaq sent the company a letter warning that it was not in compliance with the market's listing standards. Nasdaq gave Helios and Matheson 180 days to boost its share price and solve the problem.

After getting approval from shareholders, it reverse split its stock by a 250-to-1 ratio in July, temporarily boosting its stock price above $20 a share. But the shares quickly plummeted below $1 a share again as the company issued and sold massive quantities of new shares to fund its ongoing losses.

Helios and Matheson proposed reverse splitting its stock again this fall, but it ended up abandoning the effort in the face of widespread investor opposition.

The Nasdaq cited that history in explaining why it wouldn't give Helios and Matheson a second 180-day period to get back in compliance with its listing standards, according to the regulatory document.

Original author: Troy Wolverton

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Jan
26

Furniture maker Floyd raises $5.6m to expand product line, move into new Detroit HQ

Hector Vivas/Latin Content/Getty Images

Netflix shares were hit hard for a third straight session Friday and were on track for their lowest close since January.The selling has come amid broader stock-market weakness, with the tech-heavy Nasdaq Composite index losing 6.4% since Wednesday, when the social-media network Facebook was sued by Washington, DC.Netflix has tanked 33% since its October peak despite the company posting strong third-quarter earnings and subscriber growth on October 16.Watch Netflix trade live.

Netflix tumbled as much as 7.3% Friday to an intraday low of $241.36 a share and was on track for its lowest close since January.

The streaming-video giant was under pressure for a third straight session Friday amid broader stock-market weakness that has seen the tech-heavy Nasdaq Composite index shed 6.4% since Facebook was sued on Wednesday by Washington, DC, over its Cambridge Analytica data scandal. On Tuesday evening, Facebook admitted that Netflix and Spotify were able to access Facebook's user messages.

Netflix shares have slumped more than 30% over the past two-and-a-half months despite the company posting strong third-quarter earnings and subscriber growth on October 16. Bernstein analyst Todd Juenger says the sell-off could be a result of the current environment of rising interest rates, which tends to penalize companies, such as Netflix, that are short of cash. 

Netflix management warned investors in October that its cash burn will hold steady at $3 billion for the fiscal year 2018 and that next year's negative free cash flow will be roughly unchanged.

That was "a very similar scenario to when 2018 free cash flow guide was first provided a year ago, coming in worse than consensus on higher programming expense," Juenger said. "Only last time, the market believed that higher programming spend was a 'good guy' (or not as much of a 'bad guy'), as it likely fuels future sub adds. This time, the market isn't buying into that."

On Thursday, the Federal Reserve hiked its key interest rates for the fourth time this year, making debt more expensive. Rising interest rates decrease "the present value of future cash, which is especially impactful for a company like Netflix where positive cash flow is many years into the future," Juenger said.

Netflix was up 23% this year.

Markets Insider

Original author: Ethel Jiang

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Jan
26

Billion Dollar Unicorns: Is the Duopoly Keeping AppNexus from Listing? - Sramana Mitra

Uber is sending its self-driving cars back on the public road this week in Pittsburgh, with a whole new set of revamped safety procedures and a lot of public promises to further fix its safety culture after one of their autonomous cars killed a pedestrian back in March.

Last month, Uber CEO Dara Khosrowshahi responded to Business Insider's investigation into that fatal accident by telling employees at an all-hands meeting, "We have screwed up," as Business Insider was first to report.

So, it may comfort you to know that as Uber's self-driving cars hit the streets again, employees internally are feeling good about their company's current commitment to safety and their own ability to build a safer car, according to a leaked employee culture survey seen by Business Insider.

Read more: Uber employees describe a stressful and 'ridiculous' culture at the self-driving car unit under its current leader Eric Meyhofer

In October, 91% of employees at the unit, known internally as the Advanced Technologies Group or ATG, took the survey, according an email sent to the troops by the head of the division, Eric Meyhofer seen by Business Insider.

Their biggest praise about ATG's culture was about safety. Employees were asked how much they agree or disagree with this statement: "I believe ATG values safety when it comes to the development of self driving technology" and 83% of them indicated they agreed. 14% of them were neutral, neither agreeing or disagreeing, which means only 3% disagreed. That was the highest scoring response in the survey, Meyhofer discussed in his email.

82% also agreed with the statement "I feel empowered to report safety concerns and/or suggestions without fear of retaliation" with 15% neutral, leaving 3% who disagreed.

The other very positive topic of feedback involved trust, with 82% agreeing with "I trust my team" (16% neutral). 80% also said they trusted their managers, with 16% neutral. Meyhofer said that trust was up 4% compared to the previous six-month survey.

We've heard ongoing tales of how political, backstabbing, and dysfunctional this unit is from a growing list of employees and former employees, so it's good to know that most people who work there aren't feeling that way about their own teams and supervisors.

Not that employees are delirious. The overall satisfaction score was 70%, with 26% neutral. Meyhofer also indicated that this was 1% lower than overall satisfaction at Uber's main division, the one that hosts its active commercial businesses like ridesharing and Uber Eats.

There were several red flags about ATG's culture in the survey as well. The scores on questions concerning how well people feel supported to do their jobs were abysmal. When asked, "Most Uber wide systems and processes help me get work done effectively," only 43% of people agreed.

And only about half of employees reported feeling like they had growth opportunities at the company.

Most telling of all was the question about stress. Employees who felt like they were doing a good job managing work stress were down by 6%, although Meyhofer didn't share the specific number.

Here's a rundown of the ATG employee survey results we saw, not all the numbers were shared:

91% participation of ATG's 1,100 employees. Overall satisfaction 70% positive, 26% neutral "I believe ATG values safety when it comes to the development of self driving technology": 83% positive, 14% neutral. "I feel empowered to report safety concerns and/or suggestions without fear of retaliation": 82% positive, 15% neutral. "I feel good about Uber's mission": 81% positive "I feel good about Ubers company performance": 82% positive Uber is in a position to succeed: % not shared but positive responses were up 10% "I trust my team": 82% positive, 16% neutral "I trust my manager": 80% favorable, 16% neutral "Most Uber-wide systems and processes help me get work done effectively": 43% positive "I have good opportunities for professional growth": 51% positive, 38% neutral "I am able to manage my work stress in a healthy way": positive responses were down by 6% over the previous survey.
Original author: Julie Bort

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