jerryking + facebook   149

Hey Siri. Why did Apple pay $200m for an AI start-up?
JANUARY 15 2020 | Financial Times | Richard Waters and Patrick McGee in San Francisco.

For Apple, better on-device AI would allow the company’s customers to keep full control of their personal data.

Apple has paid almost $200m for an AI start up, Seattle-based Xnor, that specialises in bringing intelligence to “smart” devices.....Xnor specialises in running complex machine learning models on so-called edge devices — the wide range of gadgets, from smartphones to smart home devices and cars, that operate beyond the reach of the cloud data centres that currently handle most artificial intelligence processing.  Running machine learning on-device, rather than in the cloud, has become one of the most important technology frontiers in the spread of AI. For Apple, better on-device AI would allow the company’s customers to keep full control of their personal data......That has become an important part of the company’s marketing pitch as it tries to distinguish itself from Google and Facebook.

Xnor had developed a way to run large machine learning models without requiring the computing resources and power normally needed for such data-intensive work (e.g. the technology reduces network demands caused by AI aka latency). .....This means that critical applications can continue to run even when they lose a connection to the cloud, such as in driverless cars.
Apple  artificial_intelligence  cloud_computing  connected_devices  data_centers  decentralization  edge  Facebook  Google  latency  M&A  machine_learning  on-device  personal_data  Richard_Waters  Siri  start_ups  Xnor 
28 days ago by jerryking
‘Math men’ not mad men rule advertising’s data age, says Lévy
May 5, 2019 | Financial Times | by Anna Nicolaou.

Maurice Levy: 'The future [of advertising] is based on data. It is not based on any mass media.' We know that mass media is [declining] every day,” “And if an advertising agency wants to have a future, data is absolutely indispensable.”

the advertising industry was undergoing a “metamorphosis” that required big bets.......As consumers shift attention away from pricey television commercials and towards the internet, where Facebook and Google dominate, the industry is more “math men” than mad men......In light of digital disruption Publicis, the world’s third-largest advertising agency by revenues, has made a big bet on data. In April the company made its largest acquisition with the purchase of Epsilon, a digital marketing company owned by Alliance Data Systems......Like its rivals WPP and Omnicom, Publicis is under pressure as Facebook and Google have disintermediated the traditional agency model. The two tech groups account for two-thirds of digital advertising sales in the US.....The industry has been consolidating as traditional agencies look to position themselves as data analytics gurus who can help brands target shoppers online. Last year Interpublic bought data business Acxiom for $2bn, while just last month buzzy agency Droga5 sold itself to Accenture......Despite lingering fears that an economic slowdown is looming, “the situation is much better now,”.... making the Epsilon decision easier. “The fastest-growing segment in our industry is data, technology, internet. Period. All the rest is suffering.”
advertising  advertising_agencies  analytics  big_bets  data  decline  disruption  disintermediation  Epsilon  Facebook  Google  Interpublic  Mad_Men  marketing  mass_media  mathematics  Maurice_Lévy  Omnicom  Publicis  WPP 
may 2019 by jerryking
The value of a network
Business Life: The value of a network
First published in Business Life, January 2009

The value of a network is proportional to the square of the number of users (or devices) on that network.
Facebook  Microsoft  Metcalfe's_Law  networks  network_effects  social_networking  Tim_Harford  valuations 
february 2019 by jerryking
Roger McNamee on how to tame Big Tech
February 7, 2019 | Financial Times | Roger McNamee.

Government intervention of this kind is a first step on the path to resolving the privacy issues that result from the architecture, business models and culture of internet platforms. But privacy is not the only problem we must confront. Internet platforms are transforming our economy and culture in unprecedented ways. We do not even have a vocabulary to describe this transformation, which complicates the challenge facing policymakers....Google, Facebook and other internet platforms use data to influence or manipulate users in ways that create economic value for the platform, but not necessarily for the users themselves. In the context of these platforms, users are not the customer. They are not even the product. They are more like fuel.....Google, Facebook and the rest now have economic power on the scale of early 20th-century monopolists such as Standard Oil. What is unprecedented is the political power that internet platforms have amassed — power that they exercise with no accountability or oversight, and seemingly without being aware of their responsibility to society......When capitalism functions properly, government sets and enforces the rules under which businesses and citizens must operate. Today, however, corpor­ations have usurped this role. Code and algorithms have replaced the legal system as the limiter on behaviour. Corporations such as Google and Facebook behave as if they are not accountable to anyone. Google’s seeming disdain for regulation by the EU and Facebook’s violations of the spirit of its agreement with the US FTC over user consent are cases in point......AI promises to be revolutionary. That said, it will not necessarily be a force for good. The problem is the people who create AI. They are human...McNamee recommends two areas of emphasis: regulation and innovation. As for the former, the most important requirement is to create and enforce standards that require new technology to serve the needs of those who use it and society as a whole. ...... The IoT requires our approval. Do not give it until vendors behave responsibly. Demand that policymakers take action to protect public health, democracy, privacy, innovation and the economy.
accountability  Alexa  antitrust  artificial_intelligence  biases  Big_Tech  consent  dark_side  Facebook  Google  Industrial_Internet  monopolies  personal_data  platforms  political_power  privacy  Roger_McNamee  sensors  surveillance  unintended_consequences 
february 2019 by jerryking
Zucked by Roger McNamee — anti-social network
January 4, 2019 | Financial Times | Hannah Kuchler.

n Zucked, McNamee describes his evolution into one of the loudest voices calling for regulation of Facebook, after a lifetime as a “technology optimist” and a capitalist convinced markets could settle their own problems. The 62-year-old is part of the old guard of Silicon Valley, investing in companies including Electronic Arts, the video game company, and Palm, the maker of the early handheld devices. But he rebelled against the Valley’s code of silence, to become a key leader in a campaign against Facebook.

His book is the first narrative tale of Facebook’s unravelling over the past two years. McNamee tells the inside story of the campaign in which he allied with former Google design ethicist Tristan Harris and lobbied the politicians who eventually called Zuckerberg to testify in front of Congress in April 2018.

Without McNamee and Harris, would Washington have woken up to the severity of the social network’s problems — or believed they could do anything about it? Zucked lands just as the Democrats take over the House of Representatives, making US regulation more likely — although nowhere near inevitable.
books  book_review  Facebook  Mark_Zuckerberg  regulations  Roger_McNamee  Silicon_Valley 
february 2019 by jerryking
Big Tech in hiring spree for looming antitrust battles | Financial Times
Kiran Stacey in Washington DECEMBER 23, 2018 Print this page6
Big technology and telecoms companies have embarked on a hiring spree of former antitrust officials as their industries gear up for what experts warn could be an “existential” battle over whether they should be broken up.

In the last few months, Facebook, Amazon and AT&T have all hired senior antitrust officials from the US Department of Justice as they confront a new generation of regulators who are interested in preventing concentrations of economic power......Many of the biggest US technology companies have endured a difficult year, facing allegations of not protecting customer data, failing to prevent Russian interference in American democracy and showing political bias.

In response, several have beefed up their lobbying operations in Washington as they look to engage more with politicians, having previously preferred to operate under the radar. .....Experts say the hirings reflect a growing belief that competition policy could become the next significant political battleground....The European Commission has investigated US technology companies for alleged anti-competitive behaviour. Margrethe Vestager, the European Commissioner for Competition, is bringing cases against Google and is looking into Amazon.

Such cases have been more difficult to pursue in the US, where the law is focused more on whether anti-competitive behaviour is keeping prices artificially high.

A group of younger progressive regulators and politicians have argued in recent years, however, that technology companies that give their services away for free but dominate their markets should come in for as much attention.....Rohit Chopra, a Federal Trade Commissioner in his mid-30s, for example, recently hired Lina Khan, a 29-year-old policy thinker who has argued that large technology companies can both bring prices down and be harmful to society in general.
Amazon  antitrust  AT&T  Big_Tech  competition_policy  corporate_concentration  Department_of_Justice  FAANG  Facebook  FTC  hiring  Lina_Khan  lawyers  lobbying  market_power  market_concentration  monopolies  platforms  regulation  regulators  revolving_door  under_the_radar 
december 2018 by jerryking
Opinion | Lean Out - The New York Times
By Kara Swisher
Ms. Swisher covers technology and is a contributing opinion writer.

Nov. 24, 2018
Facebook  Google  Kara_Swisher  Mark_Zuckerberg  Sheryl_Sandberg  Silicon_Valley  women 
november 2018 by jerryking
Opinion | How Plato Foresaw Facebook’s Folly
Nov. 16, 2018 The New York Times | By Bret Stephens, Opinion Columnist

Technology promises to make easy things that, by their intrinsic nature, have to be hard......The story of the wildly exaggerated promises and damaging unintended consequences of technology isn’t exactly a new one. The real marvel is that it constantly seems to surprise us. Why?......Part of the reason is that we tend to forget that technology is only as good as the people who use it. .....It’s also true that Facebook and other Silicon Valley giants have sold themselves not so much as profit-seeking companies but as ideal-pursuing movements.....But the deeper reason that technology so often disappoints and betrays us is that it promises to make easy things that, by their intrinsic nature, have to be hard......Tweeting and trolling are easy. Mastering the arts of conversation and measured debate is hard. Texting is easy. Writing a proper letter is hard. Looking stuff up on Google is easy. Knowing what to search for in the first place is hard. Having a thousand friends on Facebook is easy. Maintaining six or seven close adult friendships over the space of many years is hard. Swiping right on Tinder is easy. Finding love — and staying in it — is hard.

That’s what Socrates (or Thamus) means when he deprecates the written word: It gives us an out. It creates the illusion that we can remain informed, and connected, even as we are spared the burdens of attentiveness, presence of mind and memory. That may seem quaint today. But how many of our personal, professional or national problems might be solved if we desisted from depending on shortcuts?... struck by how desperately Mark Zuckerberg and Sheryl Sandberg sought to massage and finesse — with consultants, lobbyists and technological patches — what amounted to a daunting if simple crisis of trust. As with love and grammar, acquiring and maintaining trust is hard. There are no workarounds.
arduous  Bret_Stephens  Facebook  Greek  op-ed  pretense_of_knowledge  Socrates  technology  unintended_consequences  shortcuts  fallacies_follies  philosophy 
november 2018 by jerryking
A New Breed of Innkeepers for the Airbnb Era - WSJ
26 COMMENTS
By Amy Gamerman
Nov. 8, 2018

To compete in the Airbnb era, a new breed of innkeepers are ditching the needlepoint pillows and potpourri in favor of free Wi-Fi and vegan breakfast sausage. “Bed-and-breakfasts were getting a bad rap for the doilies. The modern B&B doesn’t look like grandma’s house,” said Heather Turner, marketing director for the Professional Association of Innkeepers International.

There are about 17,000 bed-and-breakfasts nationwide, according the Association of Independent Hospitality Professionals, a nonprofit trade group with 625 members that was founded three years ago—partly in response to the rising number of mid-career professionals who have taken up innkeeping.

“They’ve had another career as a teacher, lawyer or doctor—they want to be in the hospitality business,”
Airbnb  bed-and-breakfast  Facebook  home_based  hospitality  Instagram  Second_Acts 
november 2018 by jerryking
Globe editorial: Does Ottawa have a plan to keep our elections safe from meddling? - The Globe and Mail
There is scant evidence that narrow-cast propaganda delivered via Facebook has a decisive effect at the ballot box. But that’s not the same as saying it can’t condition electoral, political and social environments. And that’s a real problem.

There is no easy way for users to sort through and identify millions of micro-targeted ads, messages and “news” items on Facebook. To rely on Silicon Valley’s public-spiritedness is to be in a very bad place. Plus, technology makes it simple for would-be propagandists to set up shop under a new, anonymous guise. Pick your metaphor for trying to stop them: Sisyphus’s stone or Whack-a-Mole.

And social networks create hothouse conditions for the spread of pernicious disinformation. The now-shuttered political consultancy Cambridge Analytica needed only 270,000 Facebook users to gain access to 50-million profiles......Here at home, the intelligence community has issued repeated warnings over the past year that malign foreign actors could attempt to influence our elections. Elections Canada has announced it is shoring up cybersecurity and preparing a public awareness campaign.

But given the latest Facebook revelations, Ottawa needs a more comprehensive plan to safeguard the 2019 federal vote. Now would be a good time to tell Canadians about it.
cyber_security  disinformation  elections  Elections_Canada  Facebook  narrow-framing  political_influence  propaganda  rogue_actors 
august 2018 by jerryking
Facebook’s Security Chief to Depart for Stanford University
Aug. 1, 2018 | The New York Times| By Sheera Frenkel and Kate Conger.

Alex Stamos, Facebook's Security Chief, will exit this month to join Stanford University in September as an adjunct professor and become part of a faculty working group called Information Warfare where he will examine the role of security and technology in society.....In an internal Facebook post from January Stamos wrote that the company’s security team was being reorganized and would no longer operate as a stand-alone entity. Instead, he wrote, Facebook’s security workers would be more closely aligned with the product and engineering teams and focus either on protecting the company’s corporate infrastructure or its users......Stamos had been working with the Stanford cyberpolicy program for several years and had piloted a “hack lab” class this past spring.....At Stanford, he plans to study the upcoming midterms and the role of technology, as well as election security more broadly and the topic of disinformation. He said he would also look at subjects as basic as passwords and try to reimagine how they could be made more secure.........Mr. Stamos also said Information Warfare was a new working group at Stanford with about 14 faculty members across academic disciplines. The group, which will begin meeting this fall, plans to research information warfare tactics and to develop countermeasures. Mr. Stamos said he planned to teach a class for law and policy students on how hackers attack, with the goal of familiarizing future policymakers with common hacking techniques......Stamos wants to address issues including online child safety and the naming of a country or group responsible for a cyberattack.
cyberattacks  cyber_security  Colleges_&_Universities  disinformation  Facebook  information_warfare  security_&_intelligence  Sheryl_Sandberg  Stanford  political_influence  C-suite  countermeasures  hackers 
august 2018 by jerryking
The digital economy is disrupting our old models
Diane Coyle 14 HOURS AGO

To put it in economic jargon, we are in the territory of externalities and public goods. Information once shared cannot be unshared.

The digital economy is one of externalities and public goods to a far greater degree than in the past. We have not begun to get to grips with how to analyse it, still less to develop policies for the common good. There are two questions at the heart of the challenge: what norms and laws about property rights over intangibles such as data or ideas or algorithms are going to be needed? And what will the best balance between collective and individual actions be or, to put it another way, between government and market?
mydata  personal_data  digital_economy  Facebook  externalities  knowledge_economy  public_goods  algorithms  data  ideas  intangibles  property_rights  protocols 
april 2018 by jerryking
Technology has upended the world’s advertising giants - Mad men adrift
March 31st, 2018 | The Economist |

The world’s advertising giants are struggling to adapt to a landscape suddenly dominated by the duopoly of Google and Facebook. Some of their biggest clients, such as Procter & Gamble (P&G) and Unilever, are also being disrupted, in their case by smaller online brands and by Amazon. They are cutting spending on advertising services, and also building more capabilities in-house. Consultancies with digital expertise such as Deloitte and Accenture are competing with agencies, arguing that they know how to connect with consumers better, and more cheaply, using data, machine learning and app design.......This month Marc Pritchard, chief brand officer of P&G, criticised their (i.e. the ad giants) model as a “Mad Men” operation that is “archaic” and overly complex in an era when campaigns and ads need to be designed and refined quickly across lots of platforms.

Technological forces are buffeting this model.

(1) The first big challenge is disintermediation. Despite the growing backlash against the tech giants, Google and Facebook make it easy for firms big and small to advertise on their platforms and across the internet via their powerful ad networks.
(2) The second headache is the rise of ad-free content for consumers, especially on Netflix, and the corresponding disruption of ad-supported television, which has declining viewership globally.
(3) Third, Amazon’s e-commerce might, and the growing clout of internet-era direct-to-consumer upstarts, have weakened the distribution muscle and pricing power of the advertising giants’ biggest clients.....cost discipline among clients is driven partly by the influence of thrifty private-equity investors like 3G, the Brazilian owner of AB InBev, the world’s largest brewer......Sir Martin argues that the budgetary pressures that have forced his clients to cut back on advertising are a cyclical problem, not like the structural challenges posed by technological disruption.

In private, however, a senior executive at a rival ad-holding firm rejects much of this optimism. Technological disruption and disintermediation, he says, will only deepen. The efficiency of targeted digital ads means companies can spend less for the same outcome in branding. ....The advertising firms are responding by hiring away talent, acquiring businesses (in 2015 Publicis bought Sapient, a digital consultancy, for $3.7bn) and gradually changing how they make money. Their plans mostly boil down to two things: investing in digital services and consolidating their collections of businesses so that they can provide a range of services to one client more cheaply under one account.
advertising  economics  marketing  advertising_agencies  Martin_Sorrell  digital_strategies  WPP  Google  Facebook  Amazon  competitive_landscape  P&G  Unilever  disruption  Deloitte  Accenture  Publicis  Omnicom  via:sparkey  ad-tech  programmatic  direct-to-consumer 
april 2018 by jerryking
Acronyms Gone Wild: How FANG Has Mutated This Year - MoneyBeat - WSJ
By Steven Russolillo and Ben Eisen
Sep 27, 2017

five giants — Apple, Amazon, Microsoft, Facebook and Alphabet, Google’s parent company plus Netflix FAANG
Facebook  Netflix  Amazon  Apple  Google  Microsoft 
february 2018 by jerryking
This is the age of the Microsoft and Amazon economy
Tim Harford

the big digital players: Google dominates search; Facebook is the Goliath of social media; Amazon rules online retail. But, as documented in a new working paper by five economists, American business is in general becoming more concentrated.

David Autor and his colleagues looked at 676 industries in the US — from cigarettes to greeting cards, musical instruments to payday lenders. They found that for the typical industry in each of six sectors — manufacturing, retail, finance, services, wholesale and utilities/transportation — the biggest companies are producing a larger share of output..... “superstar firms” tend to be more efficient. They sell more at a lower cost, so they enjoy a larger profit margin. ....Superstar firms are highly productive and achieve more with less. Because of this profitability, more of the value added by the company flows to shareholders and less to workers. And what happens in these groups will tend to be reflected in the economy as a whole, because superstar firms have an increasingly important role.
Amazon  Big_Tech  corporate_concentration  David_Autor  economics  economies_of_scale  Facebook  Microsoft  monopolies  monopsony  network_effects  platforms  retailers  superstars  Tim_Harford 
january 2018 by jerryking
What the Tax Bill Fails to Address: Technology’s Tsunami -
DEC. 20, 2017 | The New York Times | Farhad Manjoo.

Manjoo posits that the Republican tax bill is the wrong fix for the wrong problem, given how tech is altering society and the economy....The bill (the parachute) does little to address the tech-abetted wave of economic displacement (the tsunami) that may be looming just off the horizon. And it also seems to intensify some of the structural problems in the tech business, including its increasing domination by five giants — Apple, Amazon, Microsoft, Facebook and Alphabet, Google’s parent company — which own some of the world’s most important economic platforms.....some in Silicon Valley think the giants misplayed their hand in the legislation. In pursuing short-term tax advantages, they missed a chance to advocate policies that might have more broadly benefited many of their customers — and improved their images, too......This gets back to that looming tsunami. Though many of the economy’s structural problems predate the last decade’s rise of the tech behemoths, the innovations that Silicon Valley has been working on — things like e-commerce, cloud storage, artificial intelligence and the general digitization of everything and everyone around you — are some of the central protagonists in the economic story of our age.

Among other economic concerns, these innovations are implicated in the rise of inequality; the expanding premium on education and skills; the decimation and dislocation of retail jobs; the rising urban-rural divide, and spiking housing costs in cities; and the rise of the “gig” economy of contract workers who drive Ubers and rent out their spare bedrooms on Airbnb....technology is changing work in a few ways. First, it’s altering the type of work that people do — for instance, creating a boom in e-commerce warehouse jobs in large metro areas while reducing opportunities for retail workers in rural areas. Technology has also created more uncertainty around when people work and how much they’ll get paid.
Farhad_Manjoo  preparation  job_loss  job_displacement  Silicon_Valley  tax_codes  corporate_concentration  platforms  income_inequality  short-sightedness  e-commerce  cloud_computing  artificial_intelligence  gig_economy  precarious  automation  uncertainty  universal_basic_income  digitalization  Apple  Amazon  Netflix  Microsoft  Facebook  Alphabet  Google  inconsistent_incomes  Big_Tech  FAANG 
december 2017 by jerryking
Should the Middle Class Invest in Risky Tech Start-Ups? - The New York Times
Farhad Manjoo
STATE OF THE ART SEPT. 27, 2017

Jason Calacanis, a start-up investor who has bet on Uber and others, cuts an unusual figure in Silicon Valley..... Calacanis’s frankness regarding his tech-fueled riches. He states plainly what many in Silicon Valley believe but are too politic to say — and which has lately been dawning on the rest of the world: that the tech industry is decimating the rest of the planet’s wealth and stability.

Its companies — especially the Frightful Five of Apple, Amazon, Google, Facebook and Microsoft, which employ a select and privileged few — look poised to systematically gut much of the rest of the economy. And while Silicon Valley’s technologies could vastly improve our lives, we are now learning that they may also destabilize great portions of the social fabric — letting outsiders wreak havoc on our elections, fostering distrust and conspiracy theories in the media, sowing ever-greater levels of inequality, and cementing a level of corporate control over culture and society unseen since the days of the Robber Barons.......Calacanis is offering a much more dismal view of the disruptions caused by tech — and a more radical, if also self-serving, plan for dealing with it. To survive the coming earthquake, he advises, you need to radically re-examine your plan for the future — and you need to learn Silicon Valley’s ways rather than expect to defeat it......“Most of you are screwed,” he writes in “Angel,” arguing that a coming revolution in robotics and artificial intelligence will eliminate millions of jobs and destroy the old ways of getting ahead in America. “The world is becoming controlled by the few, powerful, and clever people who know how to create those robots, or how to design the software and the tablet on which you’re reading this.”....His book is intended as a guide for getting into the business of investing in very young tech companies at their earliest stages, known as “angel investing.” Mr. Calacanis is peddling a kind of populist movement for investing — he wants doctors, lawyers and other wealthy people, and even some in the middle class, to bet on start-ups, which he says is the best way to prepare financially for tech change.
Farhad_Manjoo  middle_class  angels  books  Jason_Calacanis  social_fabric  Apple  Amazon  Google  Facebook  Microsoft  Silicon_Valley  financial_advisors  start_ups  risks 
september 2017 by jerryking
Can the Tech Giants Be Stopped? -
July 14, 2017 | WSJ | By Jonathan Taplin.

Google, Facebook, Amazon and other tech behemoths are transforming the U.S. economy and labor market, with scant public debate or scrutiny. Changing course won’t be easy....."we are rushing ahead into the AI universe with almost no political or policy debate about its implications. Digital technology has become critical to the personal and economic well-being of everyone on the planet, but decisions about how it is designed, operated and developed have never been voted on by anyone. Those decisions are largely made by executives and engineers at Google, Facebook, Amazon and other leading tech companies, and imposed on the rest of us with very little regulatory scrutiny. It is time for that to change.

Who will win the AI race? The companies that are already in the forefront: Google, Facebook and Amazon. As AI venture capitalist Kai-Fu Lee recently wrote in the New York Times , “A.I. is an industry in which strength begets strength: The more data you have, the better your product; the better your product, the more data you can collect; the more data you can collect, the more talent you can attract; the more talent you can attract, the better your product.”".....How did we get here? I would date the rise of the digital monopolies to August 2004, when Google raised $1.9 billion in its initial public offering......This shift has brought about a massive reallocation of revenue, with economic value moving from the creators of content to the owners of monopoly platforms. Since 2000, revenues for recorded music in the U.S. have fallen from almost $20 billion a year to less than $8 billion, according to the Recording Industry Association of America. U.S. newspaper ad revenue fell from $65.8 billion in 2000 to $23.6 billion in 2013 (the last year for which data are available). Though book publishing revenues have remained flat, this is mostly because increased children’s book sales have made up for the declining return on adult titles.....The precipitous decline in revenue for content creators has nothing to do with changing consumer preferences for their content. People are not reading less news, listening to less music, reading fewer books or watching fewer movies and TV shows. The massive growth in revenue for the digital monopolies has resulted in the massive loss of revenue for the creators of content. The two are inextricably linked......In the third quarter of 2016, companies owned by Facebook or Google took 90% of all new digital ad revenue. ....The history of Silicon Valley itself offers some guidance here. The astonishing technological revolution of the past half-century would never have occurred without the impetus of three seminal antitrust prosecutions. ....The clear historical lesson, which is waiting to be rediscovered in our own day, is that antitrust action has often served not to constrain innovation but to promote it.
Apple  Alphabet  Big_Tech  Google  Amazon  Microsoft  Facebook  artificial_intelligence  privacy  antitrust  Silicon_Valley  content  platforms  virtuous_cycles  content_creators  public_discourse  oligopolies  oversight  value_migration  regulation  innovation  seminal  no_oversight  imperceptible_threats  FAANG  backlash  Kai-Fu_Lee 
july 2017 by jerryking
Conglomerates Didn’t Die. They Look Like Amazon. - The New York Times
Andrew Ross Sorkin
DEALBOOK JUNE 19, 2017

Amazon's purchase of Whole Foods re-opens the debate about conglomerates which supposed to be dead, a relic of a bygone era of corporate America as investors supposedly want smaller, nimbler, more focused companies......Amazon is just one of several digital-economy conglomerates. Alphabet, the parent company of Google, is another. Facebook is quickly becoming a conglomerate, too...... today’s tech-enabled conglomerates, are spending, and often losing, tens of billions of dollars annually on all sorts of projects and acquisitions that may or may not turn out to be successful. But investors are seemingly willing to give these new behemoths a free pass in the name of growth and innovation — until they aren’t.

If there is any lesson from the last breed of industrial conglomerates, it is that there is a natural life cycle to most of them....When it comes to Amazon (or Alphabet, or any of the new conglomerates), the question is whether there is something fundamentally different about these businesses given their grounding in digital information — especially as they expand into complex brick-and-mortar operations like upscale supermarkets.

In an age of big data and artificial intelligence, are businesses that look disparate really similar? And can one company’s leadership really oversee so many different businesses? When does it become too big to manage?...a recent article in the Yale Law Journal made a compelling case that Amazon has built perhaps the ultimate economic mousetrap — one impervious to the natural life cycle of a conglomerate, but one that might ultimately prove to be anticompetitive.

The author, Lina M. Khan, a Yale Law student who has written about antitrust law and competition policy, argued that Amazon had created a “platform market” and can use its size and scale to subsidize its entrance into new businesses through predatory pricing.....The economics of platform markets create incentives for a company to pursue growth over profits,.....Amazon’s role as both a distributor and cloud provider for many of its competitors gives it an unfair advantage. “This dual role also enables a platform to exploit information collected on companies using its services to undermine them as competitors,”.....Jeff Bezos, is clear. The man who is assembling the 21st century’s most fearsome new conglomerate once explained his view of competition this way: “Your margin is my opportunity.”
conglomerates  Andrew_Sorkin  Jeff_Bezos  Amazon  GE  Jeff_Immelt  unfair_advantages  Whole_Foods  Silicon_Valley  digital_economy  Alphabet  Facebook  lessons_learned  Yale  Charles_Munger  antitrust  competition  Berkshire_Hathaway  platforms  predatory_practices  diversification  FTC  margins  staying_hungry  life_cycle  Lina_Khan  competition_policy 
june 2017 by jerryking
Amazon Is Leading Tech’s Takeover of America - WSJ
By Christopher Mims
June 16, 2017

The impact of all this is clear: Existing businesses that can’t respond by becoming tech companies themselves are going to get bought or bulldozed, and power and wealth will be concentrated in the hands of a few companies in a way not seen since the Gilded Age. The rest of us will have to decide how comfortable we are buying all our goods and services from the members of an oligopoly.

Think about it: Apple, a computer company that became a phone company, is now working on self-driving cars, original TV programming and augmented reality, while pushing into payments territory previously controlled by banks, moves that could make it the first trillion-dollar company in the world.

Facebook , still seen by some as a baby-pictures-and-birthday-reminders company, is creating drones, virtual-reality hardware, original TV shows, even telepathic brain-computer interfaces.

Google parent Alphabet Inc., still largely an ad company with a search engine, built Android, which now runs more personal computing devices than any other software on Earth. It ate the maps industry; it’s working on internet-beaming balloons, energy-harvesting kites, and ways to extend the human lifespan. It’s also arguably the leader in self-driving tech.

Meanwhile, serial disrupter Elon Musk brings his tech notions to any market he pleases—finance, autos, energy, aerospace.
Amazon  disruption  oligopolies  Facebook  Google  Apple  Gilded_Age  Elon_Musk  augmented_reality  Christopher_Mims 
june 2017 by jerryking
Instagram Finds Focus Under ‘Efficiency Guru’
April 13, 2017 | WSJ | By Deepa Seetharaman

Ms. Levine’s biggest contribution, Mr. Systrom says, is helping Instagram avoid the fate analyst Ben Thompson described: “Companies break every time they double.” [See reference to sublinearity in new book of Geoffrey West, “Scale: The Universal Laws of Growth, Innovation, Sustainability and the Pace of Life in Organisms, Cities, Economies, and Companies” (Penguin). Specifically, "infrastructure growth scales in analogous sublinear fashion]

In 2014, Mr. Systrom said he realized he and his co-founder, Mike Krieger, needed help to grow Instagram. Facebook had bought the startup for $1 billion two years earlier, when it had just 13 employees. The pressure was on for Instagram to make money and roll out products at a more rapid clip, and the co-founders saw the need for an executive to manage the expansion.

Marne Levine is “an efficiency guru” who has helped the Instagram app avoid some of the pitfalls of rapid growth. Ms. Levine has skills that are in high demand in Silicon Valley, where startups often struggle to get past their adolescence. Uber Technologies Inc., for instance, is seeking a second-in-command to help founder Travis Kalanick repair the ride-sharing company’s image after allegations of sexism and sexual harassment and the departure of several top executives. “We want to be the 10x company,” Ms. Levine, 46, says. “That means we need to think carefully about how we set up our operations, how we grow and how we scale.”.....A seasoned manager can instill discipline and order, helping new companies avoid wasting time and resources while adding a veneer of professionalism to attract potential customers.
Instagram  Facebook  focus  scaling  growth  Snap  Snapchat  expansions  COO  efficiencies  sublinearity  powerlaw  product_launches  speed  blitzscaling  operational_tempo  10x 
april 2017 by jerryking
Building an Empire on Event Data – The Event Log
Michelle WetzlerFollow
Chief Data Scientist @keen_io
Mar 31

Facebook, Google, Amazon, and Netflix have built their businesses on event data. They’ve invested hundreds of millions behind data scientists and engineers, all to help them get to a deep understanding and analysis of the actions their users or customers take, to inform decisions all across their businesses.
Other companies hoping to compete in a space where event data is crucial to their success must find a way to mirror the capabilities of the market leaders with far fewer resources. They’re starting to do that with event data platforms like Keen IO.
What does “Event Data” mean?
Event data isn’t like its older counterpart, entity data, which describes objects and is stored in tables. Event data describes actions, and its structure allows many rich attributes to be recorded about the state of something at a particular point in time.
Every time someone loads a webpage, clicks an ad, pauses a song, updates a profile, or even takes a step into a retail location, their actions can be tracked and analyzed. These events span so many channels and so many types of interactions that they paint an extremely detailed picture of what captivates customers.
data  data_driven  massive_data_sets  data_scientists  event-driven  events  strategy  engineering  Facebook  Google  Amazon  Netflix 
april 2017 by jerryking
Virtual beauty parade; Publishers
Technology has put the squeeze on publishers in online advertising

BREAKFAST CEREALS ARE usually harmless enough, but Kellogg's, which makes a lot of them, has become many publishers' worst nightma...
Kelloggs  publishing  Google  Facebook  behavioural_targeting  programmatic  from notes
february 2017 by jerryking
Little Brother
Sep 11th 2014 | The Economist | Alexandra Suich.

In 1963 David Ogilvy, the father of Madison Avenue and author of a classic business book, “Confessions of an Advertising Man”, wrote: “An advertisement is like a radar sweep, constantly hunting new prospects as they come into the market. Get a good radar, and keep it sweeping.”.....Behavioural profiling has gone viral across the internet, enabling firms to reach users with specific messages based on their location, interests, browsing history and demographic group......Extreme personalisation in advertising has been slow to come... online advertising space is unlimited and prices are low, so making money is not as easy as it was in the offline world,.....Digital advertising is being buoyed by three important trends. The first is the rise of mobile devices, such as smartphones....The second, related trend is the rise of social networks such as Facebook, Twitter and Pinterest, which have become an important navigation system for people looking for content across the web. ......The third big development has been the rise of real-time bidding, or “programmatic buying”, a new system for targeting consumers precisely and swiftly with online adverts. Publishers, advertisers and intermediaries can now bid for digital ads electronically and direct them to specific consumers at lightning speed.....The lines between established media businesses are becoming blurred. Richard Edelman, the boss of Edelman, a public-relations firm, describes the media and advertising business as a “mosh pit”. .... clients’ biggest question is whether people will even notice their ads. ...This special report will show that technology is profoundly changing the dynamics of advertising. Building on the vast amount of data produced by consumers’ digital lives, it is giving more power to media companies that have a direct relationship with their customers and can track them across different devices. ....Consumers may gain from advertising tailored to their particular needs, and so far most of them seem content to accept the ensuing loss of privacy. But companies are sensitive to the potential costs of overstepping the mark. As the head of one British advertising firm puts it: “Once people realise what’s happening, I can’t imagine there won’t be pushback.”
Facebook  Twitter  Pinterest  Ogilvy_&_Mather  David_Ogilvy  behavioural_targeting  pushback  books  effectiveness  haystacks  privacy  native_advertising  ad-tech  Conversant  Kraft  personalization  trends  mobile_phones  smartphones  social_media  real-time  auctions  programmatic  advertising  online_advertising  Omnicom 
february 2017 by jerryking
Advertising: Facebook and Google build a duopoly
JUNE 23, 2016 | Financial Times | by Matthew Garrahan.

Google and Facebook compete in some areas such as digital video advertising but are present “across every part of the food chain”, according to one ad executive. This seismic shift to a digital and mobile ad landscape effectively controlled by two companies has wide repercussions for agencies, media buyers, publishers and the brands that want to sell more products.

Advertisers like the targeting they get with Facebook and the trove of data it has on its 1.6bn users, just as they like the efficiency of Google search. But they are worried about a concentration of market power in two companies that not only own the playing field but are able to set the rules of the game as well.

Facebook and Google “are hegemons” that could soon be taking campaigns away from television, says Brian Wieser, analyst with Pivotal Research. Paul Frampton, chief executive of Havas Media Group UK, says they are “black boxes” that have too much power. “They don’t give agencies or the brands access to their algorithms and the data being mined are for Google and Facebook — and not for the brand.”
advertising  advertising_agencies  Facebook  Google  Amazon  WPP  duopolies  media_buyers  dislocations  Mary_Meeker  seismic_shifts 
february 2017 by jerryking
Facebook Is Rolling Out a Handful of New Measurement Tools for Advertisers – Adweek
By Marty Swant|September 21, 2016

Third-party partnerships help track sales, lift and clicks
Facebook  LBMA  Tune  measurements  omnichannel  effectiveness  tools  partnerships 
february 2017 by jerryking
Change the World - The New Yorker
MAY 27, 2013 ISSUE
CHANGE THE WORLD
Silicon Valley transfers its slogans—and its money—to the realm of politics.
By George Packer
Silicon_Valley  George_Packer  start_ups  Facebook 
january 2017 by jerryking
Facebook and the future of travel | McKinsey & Company
December 2015
Facebook and the future of travel
By Alex Dichter and Nathan Seitzman
Facebook  future  travel  McKinsey  mobile_applications  frictions 
december 2016 by jerryking
Universities’ AI Talent Poached by Tech Giants - WSJ
By DANIELA HERNANDEZ and RACHAEL KING
Nov. 24, 2016

Researchers warn that tech companies are draining universities of the scientists responsible for cultivating the next generation of researchers and who contribute to solving pressing problems in fields ranging from astronomy to environmental science to physics.

The share of newly minted U.S. computer-science Ph.D.s taking industry jobs has risen to 57% from 38% over the last decade, according to data from the National Science Foundation. Though the number of Ph.D.s in the field has grown, the proportion staying in academia has hit “a historic low,” according to the Computing Research Association, an industry group.

Such moves could have a long-term impact on the number of graduates available for teaching positions because it takes three to five years to earn a doctorate in computer science. ....The squeeze is especially tight in deep learning, an AI technique that has played a crucial role in moneymaking services like online image search, language translation and ad placement,
Colleges_&_Universities  poaching  Alphabet  Google  Stanford  artificial_intelligence  Facebook  machine_learning  talent_pipelines  research  PhDs  deep_learning  war_for_talent  talent 
november 2016 by jerryking
China, Not Silicon Valley, Is Cutting Edge in Mobile Tech - The New York Times
AUG. 2, 2016 | NYT | by By PAUL MOZUR.

Silicon Valley has long been the world’s tech capital: It birthed social networking and iPhones and spread those tech products across the globe. The rap on China has been that it always followed in the Valley’s footsteps as government censorship abetted the rise of local versions of Google, YouTube and Twitter.

But China’s tech industry — particularly its mobile businesses — has in some ways pulled ahead of the United States. Some Western tech companies, even the behemoths, are turning to Chinese firms for ideas.

“We just see China as further ahead,” said Ted Livingston, the founder of Kik, which is headquartered in Waterloo, Ontario.

The shift suggests that China could have a greater say in the global tech industry’s direction. Already in China, more people use their mobile devices to pay their bills, order services, watch videos and find dates than anywhere else in the world. Mobile payments in the country last year surpassed those in the United States. By some estimates, loans from a new breed of informal online banks called peer-to-peer lenders did too.....“The cool thing about chat is it becomes an operating system for your daily life,” Mr. Livingston said. “Going up to a vending machine, ordering food, getting a cab: Chat can power those interactions, and that’s what we’re seeing with WeChat.”....Chinese companies also approach the internet in a different way. In the United States, tech firms emphasize simplicity in their apps. But in China, its three major internet companies — Alibaba, Baidu and the WeChat parent Tencent — compete to create a single app with as many functions as they can stuff into it.

On Alibaba’s Taobao shopping app, people can also buy groceries, buy credits for online games, scan coupons and find deals at stores nearby. Baidu’s mapping app lets users order an Uber, reserve a restaurant or hotel, order in food, buy movie tickets and find just about any type of store nearby.

Tencent has opened up WeChat to other companies, allowing them to create apps within WeChat.
chat  China  conversational_commerce  Facebook  Kik  mobile_phones  mobile  Silicon_Valley  Stratechery  Tencent  WeChat 
august 2016 by jerryking
Live Streaming Breaks Through, and Cable News Has Much to Fear - The New York Times
Farhad Manjoo
STATE OF THE ART JULY 13, 2016
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livestreaming  Facebook  television  CATV  Farhad_Manjoo 
july 2016 by jerryking
Europe should forget Google and investigate its own shortcomings — FT.com
APRIL 22, 2016 | FT | by Michael Moritz

There’s nothing new about this strain of anti-Americanism running rampant in Brussels. Some of its intellectual roots stretch back 50 years to Jean-Jacques Servan-Schreiber, the French publisher and journalist, who tried to galvanise Europeans into countering the threat from across the Atlantic with the publication, in 1967, of The American Challenge. Its echoes can be heard in this week’s press conferences in Brussels. Forget the fact that American ingenuity and daring has brought to hundreds of millions of Europeans phones cheaper and more powerful than the supercomputers of the 1970s, thousands of films and TV shows that can be streamed at the touch of a button, free text-messaging services, books that are delivered overnight and thousands of comfortable cars that can be summoned at a moment’s notice.

Rather than pointing across the Atlantic and seeking scapegoats, the Commissioners who have just launched another fusillade against one of their favourite American bogeymen may want to start a series of investigations into Europe’s own shortcomings. This may be a more fruitful exercise than reigniting the spent flames of the 1960s.
1967  Michael_Moritz  Google  Facebook  Silicon_Valley  anti-Americanism  monopolies  Europe  EU  shortcomings  Sequoia  ingenuity  daring 
may 2016 by jerryking
What Comes After Apps - WSJ
By CHRISTOPHER MIMS
Updated Feb. 22, 2016

The first and most intriguing alternative to apps is chat. This is hard to understand for anyone who hasn’t spent time in Asia or at least read about the dominance of WeChat and its competitors, but in China chat apps are used for everything from hailing a car to paying for your Coke at a vending machine.

Kik, a chat app that doesn’t get as much attention as rivals but for U.S. teens is on par with Facebook Messenger and Snapchat in terms of users and importance, will roll out similar functionality within six months, says Chief Executive Ted Livingston.

A growing share of these commercial chats take place with so-called chat bots—interactive computer programs that prompt users to select from among several options, for example. Imagine scanning a chat code on the back of the seat in front of you at a ballpark and having a brief conversation with a chat bot about how many and what kind of beers you want to order.

Chat, says Mr. Livingston, could manage most of the real-world interactions that previously would have required us to visit a mobile Web page, download an app, or—in some cases—give up in frustration with a phone’s constraints. Chat apps won’t solve the walled-garden problem of apps, but they could at least create lightweight interactions with services that happen in seconds and don’t require us to spend time downloading or loading anything.

A TechCrunch article in January indicated that Facebook will soon reveal similar technology within its Messenger app. At least at first, building chat bots that work on any chat app should be easier for developers, because they have similar interfaces. Chat, in other words, could become the new Web browser.
bots  chat  chatbots  Christopher_Mims  conversational_commerce  Facebook  Kik  lightweight_interactions  messaging  mobile_applications  walled_gardens  WeChat 
february 2016 by jerryking
The Rise of the Platform Economy - The CIO Report - WSJ
Feb 12, 2016 | WSJ | By IRVING WLADAWSKY-BERGER.

A platform or complement strategy differs from a product strategy in that it requires an external ecosystem to generate complementary product or service innovations and build positive feedback between the complements and the platform. The effect is much greater potential for innovation and growth than a single product-oriented firm can generate alone.”

The importance of platforms is closely linked to the concept of network effects: The more products or services it offers, the more users it will attract. Scale increases the platform’s value, helping it attract more complementary offerings which in turn brings in more users, which then makes the platform even more valuable… and on and on and on.
Alibaba  Apple  Facebook  Google  IBM  Microsoft  scaling  economies_of_scale  Uber  Salesforce  platforms  ecosystems  network_effects  Irving_Wladawsky-Berger 
february 2016 by jerryking
All hail the hashtag: How retailers are drawing you in, one Facebook post at a time - The Globe and Mail
MARINA STRAUSS - RETAILING REPORTER
The Globe and Mail
Published Tuesday, Sep. 29, 2015

Welcome to Retail 3.0, in which retailers use social media in a bid to draw young shoppers such as Campos back to bricks-and-mortar outlets.

Just a few years ago trendy shops lured consumers with an in-store coffee bar or barber shop. But today a hot brew or hair trim isn’t enough: Retailers increasingly feel the pressure to attract cyber-savvy shoppers to their physical outlets with eye-catching social media experiences that can be shared multiple times.

The social-media initiatives range from fitting rooms in Kate Spade stores that provide a backdrop for selfies with “like?” in a speech bubble to luxury parka purveyor Nobis installing photo booths at its store launch parties; and department store Nordstrom, whose roots are in shoes, encouraging shoppers to “shoefie” (take a selfie of their footwear) next to the store’s name. The images, uploaded on social media, put a spotlight on the brands.....social-media posts can pump up sales during an event as much as 20 per cent. About 60 per cent of Canadian consumers say they’ve come into contact with different products and brands through social media and, of those, 46 per cent say the interactions resulted in them making more purchases, up from 32 per cent in 2014, according to a survey this year by consultancy PwC.
digital_influencers  event-driven  social_media  Retail_3.0  imagery  Marina_Strauss  product_launches  selfies  retailers  millennials  Instagram  Facebook  e-commerce  bricks-and-mortar  in-store  footwear 
october 2015 by jerryking
Malcolm Gladwell: the Snapchat problem, the Facebook problem, the Airbnb problem | VentureBeat | Marketing | by John Koetsier
JULY 24, 2015 | Venturebeat | JOHN KOETSIER.

Why marketers have a job
The deficiencies not only in data but of data are the reason marketers have a job, Gladwell said. In fact, it goes deeper than that:

“The reason your profession is a profession and not a job is that your role is to find the truth in the data.”

And that’s a significant challenge.
data  Malcolm_Gladwell  skepticism  Facebook  Snapchat  Airbnb  sharing_economy  marketing  shortcomings  developmental_change  generational_change  customer_risk  millennials 
july 2015 by jerryking
Baltimore live streams riots with Periscope app - The Globe and Mail
Apr. 30 2015|G&M| Shane Dingman.

live, unfiltered moments streamed for an audience in the millions. Citizens and journalists have spent the week capturing and sharing moments on Vine, Instagram, Twitter, Facebook and a new breed of live-video apps like Periscope and Meerkat.

“For a breaking news event, like a riot scenario, you can provide a raw, unedited and probably more intimate window into what it is like on the ground than a TV network could never provide,” said Mr. Lewis, who is still covering the Baltimore story. “Partly that is because journalists holding smartphones are less conspicuous than those with satellite TV trucks. But I think there is also something about the immediacy and intimacy of a snapped conversation on a smartphone that brings a very different perspective.”...One of the ways to measure Periscope’s impact is whether it was being talked about on Twitter, which owns the service and lets users seamlessly share it. Data from Twitter analytics site Topsy shows that so far the most widely seen Periscopes were by celebrities like Ellen DeGeneres and Mariah Carey, though Baltimore’s unrest was among the most watched news events thus far.
Periscope  livestreaming  Baltimore  riots  bite-sized  mobile_applications  Freddie_Gray  immediacy  intimacy  smartphones  Vine  Instagram  Twitter  Facebook  Meerkat 
may 2015 by jerryking
On the Case at Mount Sinai, It’s Dr. Data - NYTimes.com
MARCH 7, 2015 | NYT |By STEVE LOHR.

“Data-ism: The Revolution Transforming Decision Making, Consumer Behavior, and Almost Everything Else,” by Steve Lohr,
Steve_Lohr  data  data_driven  data_scientists  Wall_Street  Facebook  hospitals  medical  books  Cloudera  consumer_behavior 
march 2015 by jerryking
Sandy Pentland on the Social Data That Business Should Use - WSJ
Feb. 10, 2014 | Journal Report - CIO Netowrk| WSJ's Steve Rosenbush speaking with MIT's Sandy Pentland.

MR. ROSENBUSH: For most of us, social data is Twitter, it's Facebook. What do you mean by it?

MR. PENTLAND: Those sorts of things are people's public face. On the other hand, for instance, there's badge data. Every corporation has name badges. Many of these record where people come and go, door swipes and things like that. That's a different type of social media. Or if I look at cellphone data, I can tell when people get together, what they search for, who they talk to. You can look at connections between people in ways you never could before. The way most people approach this is incorrect, because they're asking questions about individuals. A better way to approach is asking questions about interactions between people.
social_data  interpretation  Twitter  Facebook  social_physics  Communicating_&_Connecting  informed_consent  location_based_services  data  massive_data_sets  contextual  LBMA  interactivity  traffic_analysis  mobile_phones 
february 2015 by jerryking
The Web Is Dying; Apps Are Killing It - WSJ - WSJ
By CHRISTOPHER MIMS
Updated Nov. 17, 2014 2:53 p.m. ET
142 COMMENTS
The Web—that thin veneer of human-readable design on top of the machine babble that constitutes the Internet—is dying. And the way it’s dying has farther-reaching implications than almost anything else in technology today.
mobile_applications  Google  Facebook  Christopher_Mims 
november 2014 by jerryking
Insurance companies see threat in technology - The Globe and Mail
JACQUELINE NELSON
Insurance companies see threat in technology Add to ...
SUBSCRIBERS ONLY
The Globe and Mail
Published Wednesday, May. 21 2014,

Other industry leaders share his worries. Half the global insurance CEOs polled in a PricewaterhouseCoopers (PwC) study earlier this year said new market entrants threatened growth prospects, more so than in most other industries.

“The industry, being conservative by nature, has a tough time catching up with consumers’ expectations, which are changing rapidly,” said Charles Brindamour, CEO of Canada’s largest property and casualty insurer, Intact Financial Corp. His main concern is at the distribution level. Insurers are increasingly using social media and websites to target potential customers.

Life insurers such as Manulife Financial Corp. are monitoring the changing ways customers seek insurance.
disruption  insurance  mobile_applications  Google  Facebook  Intact_Financial  challenges 
may 2014 by jerryking
Facebook Plans Mobile-Ad Network - WSJ.com
By REED ALBERGOTTI and JACK MARSHALL CONNECT
April 21, 2014
Facebook  mobile  advertising_networks 
april 2014 by jerryking
Jobs: optional
March 28, 2014 |Report on Business Magazine |Eric Reguly
Facebook's purchase of WhatsApp - $19 billion for 55 people - shows how technological change and employment growth are becoming uncoupled
Eric_Reguly  Facebook  WhatsApp  digital_economy  productivity  the_Great_Decoupling  technological_change  digitalization 
march 2014 by jerryking
Kabbage s Fresh Idea for Small Business Finance - American Banker Magazine Article
Glen Fest
JUN 1, 2013

For the past three years, Atlanta-based Kabbage has used social media analytics in part to quantify a borrower's propensity to repay. The underlying logic, says chairman and co-founder Marc Gorlin, is that a small business actively promoting itself or receiving customer attention through these channels is a better risk candidate than a less socially savvy merchant even with a similar credit score and product line....Whereas a bank would require extensive and audited financial data, says Scott Thompson, the former PayPal president and Yahoo! ex-CEO who was recently appointed to Kabbage's board, Kabbage "offers up this very simple signup flow," where the application and approval process can take less than seven minutes.

"What they've done is they've assembled a richer set of data, they have better technology, better science, better attributes, and are looking at better signals to try to attempt to get a current understanding of what your small business is," Thompson says.
massive_data_sets  data  data_driven  Kabbage  unstructured_data  social_media  social_data  online_banking  small_business  Facebook  Twitter 
february 2014 by jerryking
After WhatsApp Deal, Visions of Magic Numbers - NYTimes.com
February 23, 2014, 11:00 am
After WhatsApp Deal, Visions of Magic Numbers
By NICK BILTON
WhatsApp  Silicon_Valley  Facebook  work_life_balance  messaging 
february 2014 by jerryking
Super Bowl advertising won’t wait for commercial breaks - The Globe and Mail
SUSAN KRASHINSKY - MARKETING REPORTER

TORONTO — The Globe and Mail

Published Thursday, Jan. 30 2014
Susan_Krashinsky  Oreo  Facebook  brands  public_relations 
february 2014 by jerryking
Six habits of successful digital firms - The Globe and Mail
Jan. 07 2014, The Globe and Mail HARVEY SCHACHTER

Strategic Digital Marketing
By Eric Greenberg and Alexander Kates
(McGraw-Hill Education, 352 pages, $31.95).

the Amazon Price Check app on their mobile device, they can be in a store and, by scanning the bar code, see whether that item can be obtained more cheaply from Amazon, which offers lures like free shipping.......a phrase Google uses, "Zero moments of truth," to describe the critical times when consumers use the Internet to evaluate your offering. It might be the Amazon Price Check. It might be a consumer visiting your website and then plugging into social feedback from Facebook and Twitter. Prospects might scan reviews by recent purchasers. This information can be accessed quickly and could determine whether they will deal with you – now, or forever...... little attention is paid to return on investment when digital marketing strategies are developed. They believe that less than 10 per cent of large organizations base their digital initiatives on some measure of financial return on investment (ROI). Instead, the talk is of "likes" that might be generated by a Facebook campaign, or the followers and awareness a Twitter initiative might spark.

"If increasing sales is the ultimate goal, shouldn't we always evaluate digital marketing, and all marketing for that matter, through an ROI lens?"

1. Platform convergence, not product conformity. Companies such as Google, Amazon and Facebook are knocking heads, not operating in the separate niches where they started, but fighting to be the go-to platforms for online denizens.
2. Big data, not blind deductions.These companies rely heavily on data to drive their decisions, rather than guessing. They also run tests to see what might work, learning early from interaction with real customers.
3. Customer experiences, not conventional expectations. The best companies are fiercely focused on customers, relentlessly looking for new ways to refine and improve the customer experience.
4. Networks, not bulwarks.
These firms understand the importance of their networks, such as customers and corporate partners.
5. Top talent, not hired hands. These companies realize the importance of talent, and actively seek the best people they can find.
6. Innovation, not immediate gratification
Amazon  books  conformity  customer_experience  data_driven  delayed_gratification  digital_economy  digital_strategies  FAANG  Facebook  Google  Harvey_Schachter  habits  innovation  marketing  massive_data_sets  mobile_applications  moments_of_truth  networks  platforms  ROI  talent 
january 2014 by jerryking
Data, Data and More Data
July-August 2013 | Campaigns & Elections | by Colin Delany.

...The picture often portrayed--the Obama campaign as a relentlessly efficient data juggernaut--paints over a lot of workarounds, hacks and improvisations. I'd heard this before, for example at CampaignTech in April, when Obama data manager Ethan Roeder had mentioned that plenty of the campaign's technology was held together with "duct tape and baling wire." He echoed that sentiment in Philadelphia, and he wasn't alone: Obama Chief Scientist Rayid Ghani said that for every mention of "data integration" on the campaign, he had "20 caveats" about how less-than-perfect it actually was in practice...Ghani said that the Obama voter file was actually the smallest data set he'd worked with as a technology professional, in part because people vote so rarely. Elections simply don't come around that often, and compared with commercial marketers (who can draw on thousands of purchases and other transactions to predict buying patterns), political campaigners don't have much historical data to work with.
data  data_driven  political_campaigns  Campaign_2012  Facebook  data_scientists  data_management  historical_data  small_data 
december 2013 by jerryking
From Google Wallet to bitcoin, banks’ grip on savers is loosening - The Globe and Mail
CARL MORTISHED
From Google Wallet to bitcoin, banks’ grip on savers is loosening Add to ...
Subscribers Only

If HSBC is contemplating becoming less local in its U.K. home market, it may be because their “local” knowledge tells them that in parts of Africa, ordinary people are doing cashless payment transactions by cellphone without the need of complex apps, not to mention debit cards or cheques....The real risk for the banks, however, is disintermediation, where the social media and Internet platforms simply channel moneydata from customers to retailers or from lenders to borrowers without bank intervention. Crowd funding and peer-to-peer lending platforms are still in their infancy, but that is probably because they lack the connection to the vast pot of money that would be available from a Google-bank or Face-bank.

Finally, there is the money issue, made relevant by the bizarre phenomenon of bitcoin, the ultimate disintermediation tool. If the unit of value as well as the medium of exchange moved out of the world of banking and into the ether, the transition to a debanked world would be complete.

LONDON — The Globe and Mail

Published Thursday, Dec. 12 2013
banks  banking  Google  Facebook  P2P  peer-to-peer  HSBC  disintermediation  bitcoin  regulation  mobile_payments 
december 2013 by jerryking
Messaging Service Snapchat Spurned $3 Billion Facebook Bid - WSJ.com
By
Evelyn M. Rusli and
Douglas MacMillan
connect
Updated Nov. 13, 2013

Mr. Spiegel's company has no sales and no business model—but it does have a smartphone app that delivers hundreds of millions of messages, mostly from teenagers and young adults, that disappear in 10 seconds or less.
Snapchat  Facebook  M&A  mergers_&_acquisitions  ephemerality 
november 2013 by jerryking
The Financial Bonanza of Big Data
March 7, 2013 | WSJ | By KENNETH CUKIER AND VIKTOR MAYER-SCHÖNBERGER:
Vast troves of information are manipulated and monetized, yet companies have a hard time assigning value to it...The value of information captured today is increasingly in the myriad secondary uses to which it is put—not just the primary purpose for which it was collected.[True, but this secondary or exhaust data has to be placed in the right context in order to maximize value]. In the past, shopkeepers kept a record of all transactions so that they could tally the sums at the end of the day. The sales data were used to understand sales. Only more recently have retailers parsed those records to look for business trends...With big data, information is more potent, and it can be applied to areas unconnected with what it initially represented. Health officials could use Google's history of search queries—for things like cough syrup or sneezes—to track the spread of the seasonal flu in the United States. The Bank of England has used Google searches as a leading indicator for housing prices in the United Kingdom. Other central banks have studied search queries as a gauge for changes in unemployment.

Companies world-wide are starting to understand that no matter what industry they are in, data is among their most precious assets. Harnessed cleverly, the data can unleash new forms of economic value.
massive_data_sets  Amazon  books  Google  branding  Facebook  Wal-Mart  Bank_of_England  data  data_driven  value_creation  JCK  exhaust_data  commercialization  monetization  valuations  windfalls  alternative_data  economic_data  tacit_data  interpretation  contextual  sense-making  tacit_knowledge 
march 2013 by jerryking
Feminists need to challenge themselves, too
Mar. 04 2013 |The Globe and Mail | by NAOMI WOLF.
[dissatisfaction = challenging oneself = self-challenge]
Ms. Sandberg is seeking not just to raise consciousness, but to forge a social movement. She wants her “Lean In” circles – all-women spaces to be supported by corporate workplaces – to teach women negotiation, public speaking and other skills, all merged with upbeat collective support....the opportunity to learn and practise speaking and negotiating skills is hardly inconsequential for women’s advancement... Institutional battles to redress women’s underrepresentation in land ownership, politics, and so on must be coupled with individualized leadership and skills training for women, ideally in an atmosphere of mutual support in which women learn from peers how to achieve and enlarge their own goals.
Sheryl_Sandberg  glass_ceilings  Facebook  social_movements  women  self-scrutiny  mentoring  movingonup  life_skills  workplaces  self-promotion  land_ownership  leadership_development  consciousness-raising  feminism  dissatisfaction  under-representation 
march 2013 by jerryking
The value is in the details
November 30, 2012 | FT.com | By Ravi Mattu.

Troy Carter is the Founder and CEO, Atom Factory. He's also
Lady Gaga's manager used the web to help build her career and is turning his sights to big data.

One of those friends was Joe Lonsdale, co-founder of the Palo Alto-based data management company Palantir. “He said, ‘Send me all the data you have.’ So, we sent him everything and he said it was the worst data he had ever seen in his life.” The problem wasn’t the amount of data – they had lots of it, from Ticketmaster, Lady­gaga.com and merchandise sales – but the quality. Existing social media platforms weren’t much better. “When you deal with Facebook, the information you get is geographical – what city people are logging in from, what time of day – but you don’t get the behavioural information to help you build a better experience.”
massive_data_sets  music_industry  Lady_Gaga  data_driven  Facebook  African-Americans  behavioural_data  entrepreneur  data_quality  haystacks  data_management  customer_experience  detail_oriented  Palantir 
february 2013 by jerryking
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