ReportWire

Category: Technology

Technology News | ReportWire publishes the latest breaking U.S. and world news, trending topics and developing stories from around globe.

  • Tell Us How Your Family Uses Alexa

    Tell Us How Your Family Uses Alexa

    [ad_1]

    Amazon has not figured out how to get customers to buy stuff with Alexa, its digital assistant, which is largely a disappointment for the company. But while Alexa has underperformed as a product for Amazon, we want to know how it’s performing for the people who really matter: us.

    If you have bought a smart speaker or display powered by a voice-controlled digital assistant such as Alexa, we’d like to hear from you. Does your family still use it, and if so, how?

    I am an editor on the Tech desk at The New York Times and have two boys, ages 6 and 8. In some families with young children like mine, voice assistants are hugely useful. My first-grader asks Alexa about the weather before getting himself dressed in the morning. He and his brother use it to check their math, play problem-solving games and control the music played in our house.

    They are too young for phones, so Alexa gives them access to the digital world — and without the nasty stuff like online predators.

    During dinner, when my boys ask me something I cannot answer, I don’t bring my phone to the table to search Google. We ask Alexa. I help them perfect how to ask the question to get the right result, somewhat similar I’d imagine to how previous generations of parents taught their children how to use reference books.

    I’m curious about how other families experience voice assistants. Tell us what you’ve been surprised to hear your children ask Alexa or make it do. If you’ve figured out any great life or parenting hacks with it, we want to hear about that, too.

    We’re also curious if you’re using the assistant in ways that Amazon had hoped, such as shopping online with it. Or if it has led you to sign up for one of the company’s subscription services, like Prime or Audible. Or maybe you found it to be a waste — and creepy.

    We plan to publish a selection of the responses in a future article on the ways families are using (or not using) digital assistants. We will not publish any part of your submission without contacting you first. We may use your contact information to follow up with you.

    [ad_2]

    Hanna Ingber

    Source link

  • Indiana Attorney General files lawsuits against TikTok | CNN Business

    Indiana Attorney General files lawsuits against TikTok | CNN Business

    [ad_1]


    New York
    CNN Business
     — 

    Indiana Attorney General Todd Rokita on Wednesday announced he has filed two separate lawsuits against TikTok, which accuse the company of making false claims about the safety of user data, and age-appropriate content.

    “The TikTok app is a malicious and menacing threat unleashed on unsuspecting Indiana consumers by a Chinese company that knows full well the harms it inflicts on users,” Rokita said in a statement. “With this pair of lawsuits, we hope to force TikTok to stop its false, deceptive, and misleading practices, which violate Indiana law.”

    The lawsuits mark the most serious action taken yet by a state against TikTok, amid increasing attention to and concern about TikTok from state and federal officials in recent months. Also on Tuesday, Texas Governor Greg Abbott ordered state agencies to ban TikTok use on government-issued devices, citing the threat of “gaining access to critical U.S. information and infrastructure,” following the lead of several other states, including South Dakota and Maryland.

    TikTok does not comment on pending litigation, but said, “the safety, privacy and security of our community is our top priority,” according to a statement from a company spokesperson.

    “We build youth well-being into our policies, limit features by age, empower parents with tools and resources, and continue to invest in new ways to enjoy content based on age-appropriateness or family comfort,” the spokesperson said. “We are also confident that we’re on a path in our negotiations with the U.S. Government to fully satisfy all reasonable U.S. national security concerns, and we have already made significant strides toward implementing those solutions.”

    The first lawsuit, which was filed on Tuesday, alleges that TikTok lures children onto the platform by falsely claiming it is friendly for users between 13 to 17 years old.

    American teens spend an average of 99 minutes per day on the app, the lawsuit claims, and in that time they’re exposed to content that can contain drug and alcohol use, nudity and intense profanity.

    The suit claims this exposure can negatively influence the behaviors of minors.

    A second lawsuit, filed on Wednesday, alleges that TikTok has “reams” of highly sensitive data and personal information about consumers in Indiana and that the company “has deceived those consumers to believe that this information is protected from the Chinese government and Communist Party,” the media release said.

    The lawsuit claims that TikTok’s European privacy policy has been updated “to clearly state that it permits individuals outside of Europe, including China, to access European user data,” while the company has “made no such update to its U.S privacy policy, which applies to Indiana consumers, explicitly informing them that their data is accessed by individuals and entities in China.”

    In both suits, monetary civil penalties against TikTok, along with injunctive relief are being sought.

    TikTok has for years grappled with bipartisan concerns in Washington about the possibility that US user data could find its way to the Chinese government and be used to undermine US interests, thanks to a national security law in that country that compels companies located there to cooperate with data requests. And there has been renewed criticism of TikTok this year, stemming from a Buzzfeed News report in June that said some US user data has been repeatedly accessed from China. The reporting cited leaked audio recordings of dozens of internal TikTok meetings, including one where a TikTok employee allegedly said, “Everything is seen in China.”

    In a response to the report, TikTok previously said it “has consistently maintained that our engineers in locations outside of the US, including China, can be granted access to US user data on an as-needed basis under those strict controls.” The Committee on Foreign Investment in the United States, a multi-agency government body charged with reviewing business deals involving foreign ownership, has spent months negotiating with TikTok on a proposal to resolve concerns that Chinese government authorities could seek to gain access to the data TikTok holds on US citizens.

    A TikTok executive testified before a Senate panel earlier this year that it doesn’t share information with the Chinese government and that a US-based security team decides who can access US user data from China, but stopped short of committing to cut off flows of US user data to China.

    The popular video-based app has also faced questions about the safety of young users after rocketing to popularity during the Covid-19 pandemic. Last year, TikTok’s Head of Public Policy Michael Beckerman joined executives from Snap and YouTube in a Senate hearing about children’s safety, during which he said TikTok is working to “keep its platform safe and create age appropriate experiences” but added “we do know trust must be earned.”

    And earlier this year, a group of state attorneys general announced an investigation into TikTok’s impact on young Americans focused on the app’s user engagement techniques and alleged risks that the platform may pose to the mental health of children. (At the time, TikTok said that it limits its features by age, provides tools and resources to parents, and designs its policies with the well-being of young people in mind.)

    [ad_2]

    Source link

  • US keeps eye on China’s space activities for potential risks

    US keeps eye on China’s space activities for potential risks

    [ad_1]

    BEIJING — The U.S. is closely monitoring Chinese activities that potentially threaten American assets in space as debris rapidly accumulates in low Earth orbit, the head of United States military operations in space said Friday.

    Commander of U.S. Space Command Army Gen. James Dickinson also cheered the overwhelming passage in the United Nations of a resolution that countries not conduct direct-ascent antisatellite tests that create vast fields of space debris, which endanger satellites and space stations.

    Of the four countries that have conducted such ASAT tests, the United States was the only one that voted in favor, while China and Russia voted no and India abstained.

    “We can’t continue to contribute to the debris that we find in the space domain,” Dickinson said in a telephone news conference with reporters in Asia. Most of that debris lies in crucial low Earth orbit, which has become “congested, competitive and contested,” he said.

    Even tiny shards of metal can pose a danger and the number of objects is growing rampantly. Space Command is now tracking more than 48,000 in near Earth orbit, including satellites, telescopes, space stations and pieces of debris of all sizes, up from 25,000 just three years ago, Dickinson said.

    China in 2003 became the third government to send an astronaut into orbit on its own after the former Soviet Union and the United States. Its program has advanced steadily since.

    The Chinese space program drew rare international criticism after it conducted an unannounced test in 2007 in which it used a missile to blow up a defunct Chinese satellite, creating debris that continues to pose a hazard.

    Beijing believes that “space is a very important piece to not only their economic or the global economic environment, but also the military environment, so we continue to watch that very closely as they continue to increase capabilities,” Dickinson said.

    The secretive Chinese program is run by the ruling Communist Party’s military wing, the People’s Liberation Army, precluding it from participating in the International Space Station or engaging in most forms of cooperation with NASA.

    Proceeding with little outside help, China last month launched the last of three modules for its own space station, which briefly hosted six Chinese astronauts in space during a turnover of the three-person crew. It also has rovers on the moon and Mars and is planning a crewed lunar mission sometime in the future.

    With U.S.-China tensions high over Taiwan, the South China Sea, trade and technology, space is increasingly becoming a potential flash point. In addition, the Pentagon last week released an annual China security report that warned Beijing would likely have 1,500 nuclear warheads by 2035, and that it has provided no clarity on how it plans to use them.

    China continues to “build capabilities that, really quite frankly, hold most of our assets at risk in the space domain,” Dickinson said.

    Russia’s invasion of Ukraine has further showed space to be a “contested domain that must be protected. It’s a role that we at U.S. Space Command take very seriously,” he said.

    “I’m seriously focused on our pacing challenge, China,” Dickinson said, using a description of Beijing that has become standard in the Pentagon. “The unified stance of our allies and partners is critical in countering the coercion and subversion that threatens the international rules-based order here in the Indo-Pacific and beyond,” Dickinson said.

    [ad_2]

    Source link

  • SpaceX launches 40 OneWeb internet satellites after Russian launches canceled

    SpaceX launches 40 OneWeb internet satellites after Russian launches canceled

    [ad_1]

    A SpaceX Falcon 9 rocket boosted 40 OneWeb broadband relay satellites into orbit Thursday, helping the London-based company expand its fleet in the wake of Russia’s invasion of Ukraine, western sanctions and Russia’s subsequent cancellation of previously planned Soyuz launches.

    Roaring to life at 5:27 p.m. EST, the Falcon 9 streaked away to the south from pad 39A at the Kennedy Space Center, boosting the OneWeb satellites into an initial polar orbit. The 325-pound relay stations were deployed in three batches starting about one hour after liftoff.

    120822-launch1.jpg
    A SpaceX Falcon 9 rocket blasts off from the Kennedy Space Center carrying 40 OneWeb internet satellites. Both SpaceX and OneWeb are deploying space-based broadband relay satellites, but the companies are targeting different segments of the communications marketplace with the former selling Starlink service direct to consumers while the latter focuses on government agencies and businesses.

    William Harwood/CBS News


    The Falcon 9’s first stage, meanwhile, completed its fourth flight with a double sonic boom and a picture-perfect return to landing on a concrete pad at the nearby Cape Canaveral Space Force Station. It was the company’s 55th launch so far this year, its 188th Falcon 9 flight overall, and its 154th successful booster recovery.

    While SpaceX’s fast-growing Starlink system also provides space-based broadband internet services, Massimiliano Ladovaz, OneWeb’s chief technology officer, had nothing but praise for the California rocket builder, saying the two companies are targeting different segments of the data communications marketplace.

    “It’s incredible what SpaceX can achieve in such a short amount of time,” he told Spaceflight Now. “The launch people are really focused on getting the job done. We have very good relations with SpaceX in general. We’re not competing in the same markets, this is about, really, cooperation.”

    While SpaceX is launching thousands of Starlink internet satellites, OneWeb plans a fleet of “just” 648 higher-altitude relay stations. With Thursday’s launch, the constellation grew to 504 satellites, with four more launches planned to complete the fleet — three aboard Falcon 9s and one atop an Indian GSLV Mark 3 rocket.

    Released into an initial 373-mile-high orbit tilted 87 degrees to the equator, the 40 satellites launched Thursday will use onboard xenon ion thrusters to reach their operational altitude of about 745 miles.

    120822-launch2.jpg
    A dramatic long-range tracking camera view of the Falcon 9 second stage heading to orbit (lower center) on the power of its single engine while the first stage restarts three engines (upper center) to reverse course and begin heading back for landing at the Cape Canaveral Space Force Station.

    SpaceX


    OneWeb already was providing service to government agencies, businesses and internet service providers in Alaska, Canada and northern Europe. Thursday’s flight was “very, very important for us because it’s going to allow us to increase significantly the coverage of our service,” Ladovaz said.

    “Basically, with this launch, we’ll be able to cover … the entire United States and up (north) and half of Australia down and South America.”

    It hasn’t been easy.

    Last March, OneWeb was gearing up to launch 36 satellites aboard a Russian Soyuz rocket when the Ukraine invasion triggered harsh western sanctions. In retaliation, Russia demanded that OneWeb cut its ties with the British government, which is a partial owner of the company.

    OneWeb refused, and Russia confiscated the satellites awaiting launch at the Baikonur Cosmodrome in Kazakhstan. OneWeb then scrambled to build replacements and booked its next flight on an Indian GSLV that successfully flew in October. Thursday’s SpaceX launch was the second since OneWeb and Russia parted ways.

    One silver lining to the launch shuffle: the team that builds the OneWeb satellites at a small factory just outside the Kennedy Space Center did not have to watch the Thursday flight on the internet. For the first time, they could watch their satellites fly in person.

    William Harwood


    headshots_William_Harwood.jpg

    Bill Harwood has been covering the U.S. space program full-time since 1984, first as Cape Canaveral bureau chief for United Press International and now as a consultant for CBS News. He covered 129 space shuttle missions, every interplanetary flight since Voyager 2’s flyby of Neptune and scores of commercial and military launches. Based at the Kennedy Space Center in Florida, Harwood is a devoted amateur astronomer and co-author of “Comm Check: The Final Flight of Shuttle Columbia.”

    [ad_2]

    Source link

  • Akros Technologies, an AI-powered asset management platform, raises funding from Z Holdings

    Akros Technologies, an AI-powered asset management platform, raises funding from Z Holdings

    [ad_1]

    Artificial intelligence is taking over almost every industry. The investment and finance industry is no exception. In Deloitte’s 2019 report, the firm reveals that AI is transforming the financial ecosystem to reduce costs and make operations more efficient by providing automated insights and alternative data, analysis and risk management.

    Technology such as AI has digitized the finance sector, ranging from payments and remittances to lending. However, asset management is still in the nascent stage of digitization, according to the chief strategy officer and co-founder of Akros Technologies, Jin Chung.

    Akros Technologies wants to disrupt the current asset management industry via its AI-driven asset management software platform that mines market data for stocks. Akros just raised $2.3 million from Z Venture Capital, the corporate venture capital wholly owned by Z Holdings, which also owns the Japanese messaging app Line and internet portal Yahoo Japan.

    Akros intends to strengthen strategic ties with Z Holdings via strategic investment, the startup said. The latest funding, which brings Akros’s total amount raised to $6.1 million since its 2021 inception, will help Akros to scale its software platform and asset management products and ramp up its users, including local and global financial institutions and fintech companies.

    The outfit is already in discussions with potential partners to expand its AI-powered product called portfolio management as a service, or PMaaS, an all-in-one operating system for portfolio management. Chung explained to TechCrunch that PMaaS “enables B2B clients such as financial institutions, fintech startups and robot-advisors to launch their own exchange-traded funds (ETFs) without having to set up ETF teams and infrastructure.”

    He added that it expects to secure more than five B2B clients in the first quarter of 2023.

    The startup claims that its AI-powered portfolio management platform can reduce “the overall cost structure [of] the traditional fund development,” including management fees and unnecessary fees involved in the investment process, by more than 80%. The outfit aims to maximize the finance management performance of data-driven ETFs and offer a portfolio management solution via the PMaaS for Akros’s users to help them compete with global ETF institutions like Vanguard or JPMorgan.

    In August, Contents Technologies launched Korean pop music, also known as K-pop, and Korea Entertainment ETF, on the NYSE Arca Exchange under the ticker KPOP, using Akros’s PMaaS solution to develop the ETFs. In addition, Akros listed an AI-driven target income ETF, called Akros Monthly Payout ETF (ticker: MPAY), on the NYSE in May with monthly distributions at an annualized target rate of 7%, according to the startup.

    To build a slew of investment strategies that lower the cost of portfolio modeling and generate scores of investment portfolios, Akros applies a generative AI model based on a decision transformer, which predicts future actions through the sequencing model, Chung said, adding the company also employs GPT-3 natural language processing (NLP) to analyze unstructured language data.

    Akros plans continuously to enhance its engineering technology by bolstering its business to disrupt the asset management market and attract new partners across the globe, including Japan, Singapore and the U.S., co-founder and chief executive officer Kyle Moon said in a statement.

    Founded by CEO Moon, CSO Jin and chief marketing officer Justin Gim, Akros employs seven people.

    Co-founders of Akros Technologies: (Left to right) Justin Gim, Kyle Moon and Jin Chung. Image Credits: Akros Technologies

    Moon previously worked for Qraft Technologies as head of AI research and CSO and had experience listing four ETFs on NYSE. Before co-founding Akros, Gim had more than nine years of experience in the asset management industry; Chung did research work for Bayesian deep learning in autonomous driving cars at Oxford Robotics Institute.

    In March, Akros raised $3.75 million in funding from PeopleFund, a South Korean peer-to-peer lending platform. The company declined to provide its valuation when asked.

    [ad_2]

    Kate Park

    Source link

  • FTC sues to block Microsoft-Activision Blizzard $69B merger

    FTC sues to block Microsoft-Activision Blizzard $69B merger

    [ad_1]

    The Federal Trade Commission on Thursday sued to block Microsoft’s planned $69 billion takeover of video game company Activision Blizzard, saying it could suppress competitors to Microsoft’s Xbox game console and its growing games subscription business.

    The FTC’s challenge could be a test case for President Joe Biden’s mandate to scrutinize big tech mergers. The commission voted 3-1 to issue the complaint after a closed-door meeting, with the three Democratic commissioners voting in favor and the sole Republican voting against.

    The complaint points to Microsoft’s previous game acquisitions, especially of well-known developer Bethesda Softworks and its parent company ZeniMax, as an example of where Microsoft is making some upcoming game titles exclusive to Xbox despite assuring European regulators it had no intention to do so.

    “Microsoft has already shown that it can and will withhold content from its gaming rivals,” said a prepared statement from Holly Vedova, director of the FTC’s Bureau of Competition. “Today we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets.”

    The FTC said it was filing the complaint through its administrative process rather than taking the case to a federal court. An administrative law judge it set to hear evidence but not until August 2023, according to the complaint.

    Microsoft’s president, Brad Smith, signaled in a statement Thursday that the company is likely to challenge the FTC’s action.

    “While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court,” Smith said.

    The company had been ramping up its public defense of the deal in recent days as it awaited a decision. Smith said Microsoft has been committed to addressing competition concerns and brought proposed concessions to the FTC earlier this week.

    “We continue to believe that this deal will expand competition and create more opportunities for gamers and game developers,” Smith said.

    Microsoft announced the merger deal in January but has faced months of resistance from Sony, which makes the competing PlayStation console and has raised concerns with antitrust watchdogs around the world about losing access to popular Activision Blizzard game franchises such as the military shooter game Call of Duty.

    Antitrust regulators under Biden “have staked out the view that for decades merger policy has been too weak and they’ve said, repeatedly, ‘We’re changing that,’” said William Kovacic, a former chair of the FTC.

    That has put pressure on the FTC to fulfill its bold promises to “not allow dodgy deals and not accept weak settlements,” said Kovacic, who was a Republican commissioner appointed in 2006 by then-President George W. Bush. But he said Microsoft has a good chance of winning its legal challenge.

    “It’s evident that the company has been making a number of concessions,” he said. “Microsoft would likely raise them in court and say the FTC is being incorrigibly stubborn about this.”

    Microsoft announced its latest promise Wednesday, saying it would make Call of Duty available on Nintendo devices for 10 years should its acquisition go through. It has said it tried to offer the same commitment to Sony.

    In an appeal to Biden administration priorities, Microsoft had also sought to characterize its deal as worker-friendly after announcing a “labor neutrality agreement” in June with the Communications Workers of America that would allow workers to unionize after the acquisition closes. The union’s president, Chris Shelton, wrote an opinion column in The Hill this week calling on the FTC to “seal the deal, not blow it up.”

    The deal is also under close scrutiny in the European Union and the United Kingdom, where investigations aren’t due to be completed until next year.

    FTC’s decision to send the complaint to its in-house judge instead of seeking an urgent federal court injunction to halt the merger could drag the case out for months and give more “confidence to authorities outside the U.S. to take a swing at the deal on their own,” said Kovacic, who is now a professor at George Washington University Law School.

    Activision Blizzard CEO Bobby Kotick said in a message to employees Thursday that the FTC’s action “sounds alarming, so I want to reinforce my confidence that this deal will close.”

    “The allegation that this deal is anti-competitive doesn’t align with the facts, and we believe we’ll win this challenge,” Kotick wrote.

    Kotick said the deal will be good for players, employees, competition and the industry.

    “We believe these arguments will win despite a regulatory environment focused on ideology and misconceptions about the tech industry,” he said.

    Led by FTC Chair Lina Khan, a legal scholar who’s advocated for tougher antitrust enforcement, the commission is made up of three Democrats and one Republican after a second Republican stepped down earlier this year and left an open seat on the panel.

    Democratic U.S. Sen. Elizabeth Warren tweeted Thursday that she welcomed the FTC action, noting that she had urged Khan to scrutinize the proposed merger.

    “Corporate monopolies have had free rein to hike prices and harm workers, but now the Biden admin is committed to promoting competition,” Warren said.

    Both the Justice Department and the FTC this year have looked at strengthening merger guidelines to better detect and prevent illegal and anticompetitive deals.

    Federal regulators also on Thursday opened their campaign to block Facebook parent Meta’s acquisition of a virtual-reality company Thursday in a San Jose, California, courtroom.

    In that case, the FTC sued to prevent Meta’s acquisition of Within Unlimited and its fitness app Supernatural, asserting it would hurt competition and violate antitrust laws.

    Microsoft in recent years has largely escaped the more intense regulatory backlash its tech rivals such as Amazon, Google and Meta have endured. But the sheer size of the Activision Blizzard acquisition — which could be the priciest in tech industry history — has drawn attention.

    Microsoft’s last big antitrust battle occurred more than two decades ago when a federal judge ordered its breakup following the company’s anticompetitive actions related to its dominant Windows software. That verdict was overturned on appeal, although the court imposed other, less drastic, penalties on the company.

    [ad_2]

    Source link

  • F.T.C. Sues to Block Microsoft’s $69 Billion Acquisition of Activision

    F.T.C. Sues to Block Microsoft’s $69 Billion Acquisition of Activision

    [ad_1]

    The deal between Microsoft and Activision has been under review by 16 regulators around the world, but the F.T.C. is the first of three key regulators, including in Britain and the European Union, to reach a decision on the acquisition.

    Microsoft has argued that the deal benefits consumers because Microsoft could make Activision’s broad library of games available to more people on different platforms and as part of a bundled subscription to Xbox Game Pass, its Netflix-like streaming offering, instead of downloading and buying each game individually.

    But the F.T.C. said customers would be harmed because Microsoft could misuse Activision’s hugely popular games to its advantage, by withholding them from competitors like Sony or leveraging them to get an upper hand as more gaming is streamed online by harnessing the power of Microsoft’s data centers.

    Legal experts said the case could be challenging for the F.T.C. to win because Microsoft and Activision do not really play in the same industry, reducing potential monopoly concerns. But the F.T.C. may be trying to pressure European regulators to step up, while making it more difficult for the companies to complete their deal.

    The lawsuit follows a final scramble by Microsoft to assuage regulators’ concerns.

    In mid-November, Microsoft offered Call of Duty to Sony for 10 years, significantly longer than in a previous offer. On Monday, Brad Smith, Microsoft’s president who leads its lobbying operations, said in a Wall Street Journal opinion piece that the company was “open to providing the same commitment to other platforms and making it legally enforceable by regulators in the U.S., U.K. and European Union.”

    Late Tuesday night, in an announcement intended to placate regulators, Microsoft said it reached a deal to bring the Call of Duty franchise to Nintendo’s Switch devices — where the games currently are not available — for 10 years if the Activision deal closes.

    Microsoft has also gone on the offensive against Sony, which emerged in recent months as the primary opponent of the Activision deal. Sony, which makes the popular video game console PlayStation, told British regulators that the acquisition would put crucial games “under Microsoft’s sole control, giving it an unprecedented content advantage,” and that Microsoft had not offered to make Call of Duty available on Sony’s game streaming service.

    [ad_2]

    Karen Weise and David McCabe

    Source link

  • Goodbye airplane mode? Some countries could allow phone calls during flights

    Goodbye airplane mode? Some countries could allow phone calls during flights

    [ad_1]

    Airline passengers flying in the European Union will soon bid adieu to airplane mode and could even be able to make phone calls from the sky. 

    The European Commission ruled in late November to allow airlines to provide the latest 5G technology on planes, alongside previous mobile technology generations.

    “Since 2008, the Commission’s implementing decision has reserved certain frequencies for mobile communications on planes, allowing airlines to provide messaging, phone calls and data services to passengers flying in the EU. This update of the commission implementing decision on mobile communications on-board aircraft paves the way for the widespread deployment of 5G services,” it said in a release. 

    The executive of the European Union said mobile phones could be used to the “maximum of their capacity and features.” 

    HOW TO SCRUB YOUR PHONE NUMBER AND ADDRESS FROM GOOGLE SEARCH

    European Union flags flutter outside EU Commission headquarters in Brussels, Belgium, Sept. 28, 2022.
    (Reuters/Yves Herman//File Photo)

    “5G will enable innovative services for people and growth opportunities for European companies. The sky is no longer a limit when it comes to possibilities offered by super-fast, high-capacity connectivity,” Thierry Breton, commissioner for the Internal Market, said.

    The release said the deployment of 5G services would be provided within the cabin of an equipped aircraft using special network equipment – the so-called “pico-cell” – to connect the users and route calls, texts and data, typically via a satellite network, between the airplane and the ground-based mobile network.

    The deadline for member states to make 5G technology available on aircraft is June 30, 2023.

    The details of how this would be implemented remain unclear.

    While the previous service has been reportedly slow, according to the BBC, the new system would take advantage of faster download speeds provided by 5G.

    European Internal Market Commissioner Thierry Breton speaks at a news conference in Brussels, Belgium, Sept. 19, 2022.

    European Internal Market Commissioner Thierry Breton speaks at a news conference in Brussels, Belgium, Sept. 19, 2022.
    (Reuters/Yves Herman)

    WANT YOUR IPHONE TO RUN FASTER? HERE’S A SIMPLE FIX

    Dai Whittingham, chief executive of the U.K. Flight Safety Committee, told the outlet that steps would be taken to ensure that whatever is done will be done safely. 

    “There is much less prospect of interference,” he said, “We have a different set of frequencies for 5G, and there are lower power settings than those that have been allowed in the U.S.”

    Airbus A320 of EasyJet at Vaclav Havel airport, in Prague, Czech Republic, July 1, 2015.

    Airbus A320 of EasyJet at Vaclav Havel airport, in Prague, Czech Republic, July 1, 2015.
    (iStock)

    In addition, the European Commission also amended an implementing decision on 5G frequency bands, which makes the bands available for Wi-Fi in road transport,

    CLICK HERE TO GET THE FOX NEWS APP 

    In the U.S., the Federal Aviation Administration will reportedly continue to regulate the use of airplane mode for passengers, the agency told USA Today.

    Fears of 5G antennas on the ground interfering with aircraft equipment led to flight cancellations early this year.

    Julia Musto is a reporter for Fox News and Fox Business Digital. 

    [ad_2]

    Source link

  • FTC moves to block $69 billion Microsoft-Activision deal

    FTC moves to block $69 billion Microsoft-Activision deal

    [ad_1]

    Federal regulators are seeking to block Microsoft’s proposed purchase of video game powerhouse Activision Blizzard, the Federal Trade Commission said Thursday. The $69 billion deal — the largest ever for Microsoft and for the gaming industry as a whole — would undermine competition for the software giant’s Xbox gaming console, the agency said.

    “Microsoft has already shown that it can and will withhold content from its gaming rivals,” Holly Vedova, director of the FTC’s Bureau of Competition, said in a statement. 

    The FTC cited Microsoft’s recent purchase of ZeniMax, parent company of software developer Bethesda Softworks, after which Microsoft decided to make several Bethesda titles, including Starfield and Redfall, exclusive to its consoles. 

    The FTC voted 3-1 to file a lawsuit to stop the deal, with the three Democratic commissioners voting in favor and the sole Republican voting against. A fifth seat on the panel is vacant after another Republican left earlier this year.

    The FTC noted that Activision, maker of bestselling games such as Call of Duty and World of Warcraft, was among “a very small number of top video game developers” that publish titles for multiple devices, including consoles, PCs and mobile. Globally, some 154 million people play the company’s games every month, the FTC said.

    With Microsoft in control of Activision, the software maker “would have both the means and incentive” to raise prices, issue lower-quality games or keep content off other platforms altogether, the agency said.

    Microsoft defended the transaction, saying in a statement that the deal “will expand competition and create more opportunities for gamers and game developers.”

    “While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court,” the statement said.

    Activision CEO Bobby Kotick express confidence the companies would prevail in court and complete the deal. “The allegation that this deal is anti-competitive doesn’t align with the facts, and we believe we’ll win this challenge,” he said in a statement.

    “Dodgy deals”

    The Biden administration has emphasized the importance of competition in the economy. Current antitrust leaders “have staked out the view that for decades merger policy has been too weak and they’ve said, repeatedly, ‘We’re changing that,’” William Kovacic, a former chair of the FTC, told the Associated Press.

    The goal is to “not allow dodgy deals and not accept weak settlements,” said Kovacic, who was a Republican commissioner appointed in 2006 by then-President George W. Bush. But he said Microsoft has a good chance of winning its legal challenge.

    “It’s evident that the company has been making a number of concessions,” he said. “Microsoft would likely raise them in court and say the FTC is being incorrigibly stubborn about this.”

    Microsoft announced the merger deal in January but faced months of resistance from Sony, which makes the competing PlayStation console and has raised concerns with antitrust watchdogs that it would lose access to popular Activision Blizzard game franchises such as Call of Duty. 

    The company’s latest concession, announced Wednesday, was to make Call of Duty available on Nintendo devices for 10 years should its acquisition go through. It has said it tried to offer the same commitment to Sony.

    Union friendly?

    In an appeal to Biden administration priorities, Microsoft has also sought to characterize its deal as worker-friendly after announcing a “labor neutrality agreement” in June with the Communications Workers of America that would allow workers to unionize after the acquisition closes. 

    Technology companies historically have shown little support for employees seeking to organize. Workers at two Activision Blizzard divisions also recently voted to unionize, but the company has fought those efforts.

    In a statement, the CWA said allowing the deal to close “would have sent a game-changing message to corporate America that workers do indeed have a seat at the table and their concerns matter and must be addressed.”

    “Workers across the country, including in the video game industry, understand that one of the most effective ways to fight consolidated corporate power is to consolidate their own power by joining together in unions,” the CWA said.

    The deal is also under close scrutiny in the European Union and the United Kingdom, where investigations aren’t due to be completed until next year.

    The Associated Press contributed reporting.

    [ad_2]

    Source link

  • FTC sues to block Microsoft’s $69 billion acquisition of Activision Blizzard | CNN Business

    FTC sues to block Microsoft’s $69 billion acquisition of Activision Blizzard | CNN Business

    [ad_1]


    Washington
    CNN
     — 

    The Federal Trade Commission on Thursday sued to block Microsoft’s $69 billion acquisition of Activision Blizzard, challenging one of the largest tech acquisitions in history.

    The administrative complaint filed Thursday by the FTC alleges that the blockbuster deal, which would make Microsoft the third-largest video game publisher in the world, would give Microsoft “both the means and motive to harm competition” — claiming it could negatively affect prices of video games as well as game quality and player experiences on consoles and gaming services, according to an agency release.

    “We continue to believe that this deal will expand competition and create more opportunities for gamers and game developers,” Brad Smith, Microsoft’s president, said in a statement Thursday. “We have been committed since Day One to addressing competition concerns, including by offering earlier this week proposed concessions to the FTC. While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court.”

    In an email sent to employees and provided to CNN, Activision CEO Bobby Kotick said the FTC suit may sound “alarming” but he remains confident the deal will close. “The allegation that this deal is anti-competitive doesn’t align with the facts, and we believe we’ll win this challenge,” he said.

    The US merger challenge reflects the biggest setback yet for Microsoft as it has aggressively courted regulators around the world in hopes of persuading them to bless the deal. It also marks the FTC’s most significant challenge to the tech industry since it sued to break up Facebook-owner Meta in 2020, underscoring US officials’ vocal promises of a tough antitrust enforcement agenda.

    “Today we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets,” said Holly Vedova, director of the FTC’s Bureau of Competition, in a statement.

    Microsoft’s proposed deal would give it control over key video game franchises, including “Call of Duty,” “World of Warcraft” and more.

    Officials in the United Kingdom and the European Union have also scrutinized the deal as potentially anticompetitive. But the FTC complaint marks the first attempt by an antitrust regulator to block the deal outright.

    Microsoft could use its ownership over Activision titles to raise prices, or to try to funnel players to gaming platforms it controls, such as Xbox or Windows, the FTC said. The deal could also affect the emerging market for cloud-based gaming services, the FTC said, which Microsoft is involved with through its subscription service, Xbox Game Pass.

    In recent days, Microsoft has announced a slew of partnerships apparently intended to head off claims that it would withhold gaming content from rivals. This week, Microsoft said it had reached a 10-year deal with Nintendo ensuring that it will have access to Call of Duty for the foreseeable future.

    In a Wall Street Journal op-ed Monday, Microsoft’s Smith said an FTC suit to block the Activision deal would be a “huge mistake” and added that the acquisition would allow Microsoft to innovate new features such as the ability for consumer to play the same game on multiple devices, just as they can with streaming TV shows or music.

    Months earlier, in February, Microsoft made an 11-point pledge related to all of its app marketplaces and its gaming business. The list included a promise, which would cover the proposed Activision deal, not to give preferential treatment to its own published games on digital marketplaces it runs.

    [ad_2]

    Source link

  • Pitch Deck Teardown: Rootine’s $10M Series A deck

    Pitch Deck Teardown: Rootine’s $10M Series A deck

    [ad_1]

    If you told me that a company that’s charging $70 per month for multivitamins would be able to raise a $10 million round, I’d demand to see the receipts, and I’d be very curious indeed to see its pitch deck. It looks like today is my lucky day!

    Rootine is the company, and the founders were gracious enough to share their pitch deck with me. Let’s figure out what the investors saw in this startup.

    The company first turned up in TechCrunch’s coverage as part of the Techstars accelerator back in 2018. Anthony Ha reported that the company had 1,500 paying customers in Europe and was gunning for a U.S. expansion. It looks like that was a long journey that ultimately worked out.

    Rootine’s deck is my 30th teardown — time flies! You can see the rest of them here, in case today’s read isn’t quite enough pitch decking for you.

    We’re looking for more unique pitch decks to tear down, so if you want to submit your own, here’s how you can do that. 

    Slides in this deck

    The Rootine deck consists of 29 slides, and the team tells me there have been no omissions or redactions — this is what the investors saw when they were getting pitched!

    1. Cover slide
    2. Summary slide
    3. Traction summary slide
    4. Team slide
    5. “Why” slide
    6. Market context slide
    7. Market size and market trajectory slide
    8. Problem slide
    9. Solution slide
    10.  “Community enhances member experience” — community slide
    11.  Business model slide
    12.  “The Precision Multivitamin”— product slide
    13.  “Supported by a variety of at-home lab tests”— product slide
    14.  “Innovative form factor for nutrition products”— product slide
    15.  Technology slide
    16.  “Feedback loop”— product slide
    17.  “How it works” slide — tracking member outcomes
    18.  Customer (“member”) results slide
    19.  Product traction slide
    20.  Customer traction slide
    21.  Partnership traction slide
    22.  Competitive landscape slide
    23.  Vision slide
    24.  Product road map slide
    25.  Revenue projection slide
    26.  Go-to-market evolution slide
    27.  Advisors slide
    28.  The ask and use of funds slide
    29.  Contact info slide

    Three things to love

    Rootine’s slide deck is a masterclass; it covers everything I would expect in a deck. It does go deeper than I would have liked into the product, but when I looked through it again, there’s not a lot I can remove from this deck to make it much better. Incidentally, there’s also not a lot I would add. That’s a great sign. Let’s check out some of the highlights.

    An “ask” slide

    By quite some considerable margin, the “ask and use of funds” slide is the most frequently screwed-up slide in pitch decks, in my experience. This one isn’t perfect, but I’m so glad it’s there, because it helps lead the conversation for what happens next.

    [Slide 28] Great use of funds slide. Image Credits: Rootine

    I wish the company had included how much money it was raising on this slide to give it a sliver of additional context. But that’s an aside; I love the clarity here. Increasing ARR and membership numbers 3x and launching eight new products is a great set of goals. I wish the company had included deadlines (yes, 3x ARR … but when?), and “key hires” and “expand teams” are too fluffy. But most startups don’t include any of this, so very well done there.

    One little detail, though: 30% growth, 40% tech, 20% community, 20% ops. Oops. I love the realism that everything in startups can run over budget, and I believe in the wisdom of raising more than you think you’ll need, but I’m pretty sure most investors would prefer the use of funds to add up to 100%.

    As a startup, the lesson here is to show that you have clarity around why you are raising money, as well as what you’re going to accomplish with the money. It’s embarrassingly rare to see either of these things clearly outlined — and it’s literally the whole purpose of a pitch deck. Rootine’s example above is a good jumping-off point. Make it your own; make it good.

    Traction galore

    Rootine has a few traction slides in its deck (one that makes me unhappy, but we’ll get to that one), but I love how it flexes its numbers in various ways to show how well the company is doing. Slide 19 showcases some really cool traction:

    [Slide 19] Holy traction, Batman. Image Credits: Rootine

    An 18x increase in two years is objectively powerful. Not having numbers on the axes is a bit of a cheat (why‽), but the trend is clear, so that’s encouraging. The slide I really want to celebrate Rootine for, though, is the “summary” slide far earlier in the deck. Slide 2:

    [Slide 3] Kicking off the story with a summary of the metrics. Image Credits: Rootine

    I’m a sucker for a good business-by-the-numbers-type slide. I’m a little confused by the inconsistencies. TechCrunch reported that the company had 1,500 or so customers back in 2018, so the 2019 “launch” seems odd. It’s also risky to show projected numbers as part of slides; having it in two colors (blue for “real” numbers and perhaps gray for the projected numbers) might have felt more honest.

    I’d also have liked to see more detail about the numbers behind the numbers. Acquisition costs, margins and all the numbers that drive a business forward. Especially at a Series A, where a company is explicitly setting itself up for growth, it would be good to have more detailed breakdowns of how the various key metrics have evolved over time.

    How has the customer acquisition cost (CAC) evolved over time? How has the initial spend per customer and assumed lifetime value per customer shifted? What about the costs of goods sold (COGS), etc.? As an investor, this is where I would spend a lot of my due diligence time, so it makes sense to include most — if not all — of that as part of the presentation. If you’re positioning yourself as being ready for growth, show that the numbers support that!

    As a startup, consider how you can use the numbers driving your company to tell the story, both of what you have done and what you are about to do. If you have meaningful numbers that truly show the growth of your company — use ’em to ram that point home. What you are doing is hard; brag, brag, brag!

    The path to $1 billion

    [Slide 25] That’s a bold claim. Image Credits: Rootine

    The whole purpose of a startup is to scale outrageously fast. The exponential curve Rootine is showing in this curve looks impressive, and I am unsurprised that the investors got excited. I also suspect investors would ask how at this point. I think making a claim to be a $1 billion business within six years is bold and exciting. But you’d best show up with the receipts.

    I hinted at that above; I’d want to see the numbers that drive this aggressive curve. Doubts aside; if you’re playing the VC game and you’re raising growth capital, this is precisely the sort of claim you need to be able to make, backed with some confidence and the numbers to back it up.

    In the rest of this teardown, we’ll take a look at three things Rootine could have improved or done differently, along with its full pitch deck!

    [ad_2]

    Haje Jan Kamps

    Source link

  • Best smart thermostats to keep you at the perfect temperature

    Best smart thermostats to keep you at the perfect temperature

    [ad_1]

    You’ve heard of smartphones, smart light bulbs, and even smart air conditioners, but what about a smart thermostat?

    CLICK TO GET KURT’S CYBERGUY NEWSLETTER WITH QUICK TIPS, TECH REVIEWS, SECURITY ALERTS AND EASY HOW-TO’S TO MAKE YOU SMARTER  

    It’s hard not to blast the cold air in the summer or heat in the winter, but with fuel costs rising it is paramount to find ways to manage your energy output. That’s where having a smart or Wi-Fi thermostat can come in handy.

    WHO HAS CASH TO BURN FOR THESE EXTRAVAGANT $1,000+ AMAZON GIFTS?

    A Honeywell smart thermostat is seen above. 
    (Fox News/Honeywell)

    Smart vs. Wi-Fi thermostat

    While all smart thermostats are Wi-Fi thermostats, not all Wi-Fi thermostats are smart! Both smart and Wi-Fi thermostats connect to the internet to perform their functions.

    Smart thermostats, however, are a step above a just Wi-Fi enabled thermostats because they can ‘learn’ your behavioral habits and adjust temperature settings accordingly without you having to constantly check or manually adjust it. Whereas, a Wi-Fi thermostat that isn’t “smart” will only adjust based on your prompts or settings.

    A common struggle is forgetting to turn off your heating or cooling system when leaving for work or travel. No one likes returning to a freezing or scalding hot home only to realize that they’ve been flushing their money down the drain. With a smart thermostat, these scenarios are issues of the past because it recognizes when you or your family are home and automatically adjusts the temperature for cooling or heating is optimal for energy savings. Additionally, because it is so “smart” it will preheat or pre-cool your home in anticipation of your arrival, so you don’t risk having frozen pipes or a “sauna” upon your return.

    WAVE OF GRINCH PORCH PIRATES TRYING TO RUIN CHRISTMAS

    Amazon joined a $61 million funding round into smart thermostat maker ecobee Inc. last March. 

    Amazon joined a $61 million funding round into smart thermostat maker ecobee Inc. last March. 
    (Getty Images)

    Will a Smart or Wi-Fi thermostat put me at risk?

    Recently I got a question sent online at CyberGuy.com:

    “I’d like to see an article about Wi-Fi thermostats. We are having issues with the furnace system we had installed a year and a half ago and we’ve had the dealer in four times in the last week. I’ve been trying to do research and we are at wits end and wonder can hackers cause issues through a Wi-Fi thermostat. I read hackers broke into a casino’s system through their thermostat. – Sharon F.”

    As with any device that connects to the internet, there is an inherent risk of being vulnerable to hackers. At most, however, the hackers will likely only be able to access what the thermostat is “privy” to, which would be temperature preferences and the behavioral patterns (arrivals and departures) of those living where the thermostat is operating. 

    For a thief looking to rob your home, the general whereabouts of its owners might prove useful. But to hackers looking to exploit data, the likelihood of accessing private information is highly unlikely. It does bear repeating that practicing good security hygiene is still worth it. 

    Making sure to use strong passwords to secure your thermostat and the network it is on will help reduce your risk of falling prey to opportunist hackers looking for a loophole into your home.

    SAVINGS TIPS ON THE HOTTEST GIFTS THIS HOLIDAY SEASON

    Female hand setting thermostat to 68 degrees Fahrenheit to save energy in the winter.

    Female hand setting thermostat to 68 degrees Fahrenheit to save energy in the winter.
    (Fox News)

    Smart Thermostats

    Benefits of a Smart Thermostat

    • Take the guesswork around controlling temperature to maximize comfort, environmental efficiency, and cost
    • Cost savings can be 10-23% off utility bills; some utility companies have rebates when you buy smart thermostats
    • Adaptability – not only does it do the work for you, but it learns as it goes, so it is continuously optimizing the cooling and heating of your home
    • So smart that it knows to apply temperature settings when you’re not home without you having to change the programming – it will know you are not home or asleep
    • Works fluidly with smart home network systems such as Google Assistant or Amazon’s Alexa
    • Can be set up to send you alerts for maintenance on HVAC systems, which can save you from breakdowns or additional costs in the future.

    Cons of a Smart Thermostat

    • More expensive than a normal digital thermostat, which can be as low as $25 (comparatively, Smart Thermostats start at around $100)
    • Not all Smart Thermostats are compatible with your current HVAC system
    • May require additional help with installation from a professional.

    TOP TOYS FOR KIDS THIS CHRISTMAS INCLUDE SOME ‘MAGIC’ AND A SURPRISE PLUSH TOY

    A Nest thermostat is installed in a home in Provo, Utah, Jan. 15, 2014. Google took its biggest step to go deeper into consumers' homes, announcing a $3.2 billion deal Jan. 13, 2014, to buy smart thermostat and smoke alarm-maker Nest Labs Inc, scooping up a promising line of products and a prized design team led by the "godfather" of the iPod.

    A Nest thermostat is installed in a home in Provo, Utah, Jan. 15, 2014. Google took its biggest step to go deeper into consumers’ homes, announcing a $3.2 billion deal Jan. 13, 2014, to buy smart thermostat and smoke alarm-maker Nest Labs Inc, scooping up a promising line of products and a prized design team led by the “godfather” of the iPod.
    (REUTERS/George Frey)

    Wi-Fi Thermostats

    Benefits of a Wi-Fi thermostat (that isn’t “Smart”):

    • Alerts you when your home changes in temperature range, so you can decide whether to raise or lower the temperature
    • Unless you’re able to set up reminders or alerts, if you forget to turn off the system or have temperature parameters set, it will continue to run until you turn it off (manually or remotely)
    • Set the thermostat to raise or drop the temperature when it hits a certain degree
    • Saves you money by adjusting temperature vs. keeping the system running all day or night
    • Usually able to control settings remotely through your smart home integrated system or mobile app for the thermostat.

    Cons of a Wi-Fi thermostat

    • More expensive than a normal digital thermostat, which can be as low as $25 (comparatively, Wi-Fi Thermostats start at around $50-60)
    • Needs you to make decisions to make changes in temperatures, and it can’t sense the changes of your home (whether people are home or not, etc.) to make adjustments

    GIVING TUESDAY: BLANKETS OF HOPE HELPS KEEP THE HOMELESS WARM IN ‘MASSIVE MOVEMENT OF KINDNESS’

    The Nest smart learning thermostat adopts to its user's lifestyle as well as weather conditions. Will the company's next product be a smoke detector?

    The Nest smart learning thermostat adopts to its user’s lifestyle as well as weather conditions. Will the company’s next product be a smoke detector?
    (©DE)

    Top Smart Thermostats + 1 Wi-Fi Thermostat

    As technology has become fine-tuned and more sophisticated, there are many options in the market. To narrow it down as well as give you some options to compare, below are my top smart thermostats as well as one Wi-Fi thermostat.

    Amazon Smart Thermostat

    Pros:

    • Depending on your area, it comes with a rebate from your local energy provider via email
    • Not expensive as most smart thermostats usually start at the $100 range
    • An ENERGY STAR certified thermostat – estimated by the EPA that thermostats with this designation tend to save users an average of $50/year on energy bills
    • Created to “seamlessly” integrate with Alexa
    • Made with Honeywell Home Thermostat Technology, which is a well-known brand in thermostat technology
    • Simple digital display (3 buttons on device: Temperature up, Temperature down, and Select/Mode).

    Cons:

    • Doesn’t have a speaker or microphone to utilize voice control, so you’d have to use an Alexa-enabled device like an Echo, which you’d have to purchase separately, or the Alexa App
    • Not compatible with all HVAC systems
    • If your home system requires a c-wire or power adapter kit, the thermostat with that adapter is approximately $24 more expensive
    • Only connects to 2.4 GHz 802.11b/g/n and does not support 5GHz
    • Does require installation with a power drill and level as well as potential wiring.

    ecobee Smart Thermostat

    Pros:

    • More number of controllers it is compatible with: Apple HomeKit, Google Assistant, Amazon Alexa, IOS, Android
    • About the mid-price range for Smart thermostats, approximately $159 at the time of reporting
    • Boasts a savings of 26% per year on heating or cooling energy costs
    • ENERGY STAR certified
    • Automatically heats or cools your home, so you are never heating or cooling an empty home
    • Easy installation – most of their customers are able to install in 45 minutes or less
    • Compatible with a wider range of systems: most 24VAC HVAC equipment, including conventional furnaces and air conditioners (2H/2C), heat pumps (2H/2C + 1 stage AUX heat), boilers, and PTACs or fan coil units with up to 3 fan speeds
    • Includes power extender kits (for systems without a c-wire)
    • Made to last 10 years and backed with a warranty for 3 years.

    Cons:

    • Smart sensors are sold separately, but it allows you to control the temperature of specific rooms.

    Honeywell Home T9

    Pros:

    • ENERGY STAR CERTIFIED
    • Connects to both 2.4 & 5 GHz Wi-Fi connections
    • Simple, digital display for ease of use
    • Works with App, touch or voice control
    • In addition to indoor and outdoor temperature control, it does sense humidity levels as well
    • About the mid-price range for Smart thermostats, approximately $158 at the time of reporting.

    Cons:

    • Does not work with heating-only oil furnace systems unless a C-Wire is present, which needs to be purchased separately.

    Google Nest Learning Thermostat

    Pros:

    • Compatible with 95% of cooling & heating systems
    • Most people can install the thermostat in 30 minutes or less
    • Can be controlled by remote, app, or voice
    • Connects through Bluetooth and Wi-Fi
    • ENERGY STAR certified
    • According to independent studies, Nest thermostats saved people approximately 10-12% on heating and 15% on cooling energy costs.

    Cons:

    • Expensive – starting at $200 & up.

    EMERSON Sensi Touch

    Unlike the other thermostats listed in this article, this is a Wi-Fi thermostat, not a smart thermostat. While you can add parameters such as temperature lows and highs that cue the thermostat to turn on or off, it does not learn the behavioral habits of its user to adjust intuitively. You have to manually adjust settings in order to gain energy cost benefits.

    Pros:

    • Large, clear digital display with menus easily accessible on thermostat
    • Additional privacy protection as Sensi will not sell your data to third parties
    • Works with most HVAC systems, but requires c-wire, which is sold separately
    • ENERGY STAR-certified and boasts energy savings of 23%
    • Compatible with Amazon Alexa, Apple HomeKit, Google Assistant and Samsung SmartThings
    • Can be controlled remotely with the Sensi Mobile App available.

    Cons:

    • Expensive as it starts at $165, which is the price point for smart thermostats boasting better features
    • Requires 2.4 Ghz Wi-Fi connection
    • Most systems require a c-wire for setup, which is sold separately.

    CLICK HERE TO GET THE FOX NEWS APP

    With energy costs fluctuating and the winter months taking full effect, will you invest in a smart or Wi-Fi thermostat? Already have one? Share any positive or negative experiences you’ve had as well as any cost-savings you gleaned!

    Copyright 2022 CyberGuy.com. All rights reserved. CyberGuy.com articles and content may contain affiliate links that earn a commission when purchases are made.

    Kurt “CyberGuy” Knutsson is an award-winning tech journalist who has a deep love of technology, gear and gadgets that make life better with his contributions for Fox News & FOX Business beginning mornings on “FOX & Friends.” Got a tech question? Get Kurt’s CyberGuy Newsletter, share your voice, a story idea or comment at CyberGuy.com.

    [ad_2]

    Source link

  • Wave of Grinch porch pirates trying to ruin Christmas

    Wave of Grinch porch pirates trying to ruin Christmas

    [ad_1]

    Al Diaz of Rialto, California watched packages his father ordered get ripped off minutes after they were delivered. This grinch of a porch pirate drove away with over $1,000 worth of gifts in seconds. A pair of pajamas he had purchased for his dog and himself, as well as three Movado watches, said to be worth a combined $1,000, were all stolen from his porch in plain sight.

    Thanks to online shopping and delivery services, holiday shopping has never been easier.

    Rather than deal with the hustle and bustle of shopping malls and department stores, people are now able to perform all of their holiday shopping with one click from the comfort of their own homes.

    CLICK TO GET KURT’S CYBERGUY NEWSLETTER WITH QUICK TIPS, TECH REVIEWS, SECURITY ALERTS AND EASY HOW-TO’S TO MAKE YOU SMARTER  

    Unfortunately, the gifts don’t always make it to their intended recipients, as across the country, packages continue to mysteriously disappear from doorsteps and patios.

    No, it’s not the devilish Grinch trying to steal Christmas, but rather what has come to be known as “porch pirates.“

    Beware of porch pirates going after your deliveries this holiday season.
    (Fox News)

    Close to 290 Million packages were stolen from porches in 2021.

    According to a recent study by research company Safewise, 260 million packages, collectively worth an estimated $19.5 billion have already been stolen from porches across the country in the last 12 months.

    This is a statistic that is no doubt only going to grow as the holiday season approaches.

    TEXAS POLICE URGE RESIDENTS TO BE ON ALERT FOR ‘PORCH PIRATES’ THIS HOLIDAY SEASON

    Armed and dangerous

    Things got even more frightening in Antioch, Tennessee, where three porch pirates were spotted following a FedEx delivery truck and stealing the packages being delivered.

    What’s more, these men were spotted carrying loaded guns.

    Thankfully, after the black Dodge Charger they were driving was reported, the three culprits were caught, arrested and charged.

    HOLIDAY SHOPPING: BEST TIPS FOR SAVING MONEY THIS SEASON, FROM A RETAIL EXPERT

    The police are on the lookout.

    With reports of stolen packages continuing to grow, local authorities are doing their best to keep an eye out for porch pirates.

    The police department of Van Alstyne, Texas even came up with a surefire way of ensuring packages make it to their intended recipients this holiday season.

    By allowing residents to have their packages delivered to the police station.

    With the station being open 24 hours a day, seven days a week, Van Alstyne residents are permitted to show up any time to pick up their presents, only needing to show a valid form of ID.

    Should your local police department not be offering this service, however, or if you’d rather not have to make the trek to the police station to pick up your presents, fear not.

    As previously reported on a story at CyberGuy.com, there are 8 simple methods to avoid becoming the victim of local porch pirates.

    Best ways to avoid porch pirate package theft

    TOP TOYS FOR KIDS THIS CHRISTMAS INCLUDE SOME ‘MAGIC’ AND A SURPRISE PLUSH TOY

    Invest in a video doorbell

    Installing a video doorbell, such as WYZE, could potentially stop a porch pirate dead in their tracks.

    Even if it doesn’t deter them from thievery, you will still get an alert that someone has approached your front porch door, whether they ring the doorbell or not, catching them red-handed, with their face fully visible.

    You could even go a step further and install cameras on trees around your driveway, possibly getting a clear shot of a license plate. While this won’t guarantee you’ll get back your stolen merchandise, it will greatly help your local police track down the culprits.

    LOS ANGELES POLICE ANNOUNCE 18 ARRESTS IN MASSIVE ORGANIZED RETAIL THEFT RING DAY AFTER NEW SHERIFF SWORN IN

    Pick A Delivery Date

    Most online retailers allow you to schedule a delivery date, giving you a day and rough wind of time when the package will arrive. This allows you to be ready and waiting for its arrival and safely stash your presents away behind locked doors.

    Amazon, UPS and FedEx are also able to alert you if you’ve received a delivery.

    THE GRINCH COULD BE STEALING YOUR CHRISTMAS CHECKS

    Get To Know Your Delivery Drivers

    Next time you see your mail carrier arrive at your home, introduce yourself, and maybe ask if he can place your packages in a less conspicuous place than the front porch.

    Porch pirates all but exclusively snatch packages from front porches, where it’s easy for them to grab them and even easier to run away. Having your packages placed at the back door or another more stealth location is bound to keep them safer.

    In select areas, Amazon even offers a service known as Amazon Key, where with the purchase of a smart garage controller such as myQ, Amazon delivery drivers can leave your packages securely in your garage.

    Rest assured, drivers are only granted access to your garage for the one-time delivery.

    Lock boxes can help keep your packages safe.

    Lock boxes can help keep your packages safe.
    (Architectural Mailboxes)

    Lock Boxes

    Another way to ensure your packages will be securely waiting for you when you get home is to invest in secure delivery boxes, such as The Elephantrunk Parcel Drop.

    Deliveries are placed in the top of the box, then lowered into a locked chamber only accessible by the owner.

    Shock-absorbing cushions as well as water-resistant coating ensure your items will be safe from thieves and the elements alike.

    Of course, if you’d rather not invest in a lock box of your own, and don’t mind making the trip, you can always have your packages delivered to an Amazon locker.

    Once your package has arrived, you will receive a notification and a delivery.

    CLICK HERE TO GET THE FOX NEWS APP

    Stay alert for pirates in the neighborhood

    By signing up for a neighborhood watch app such as Neighbors or Nextdoor, you can keep track of any stolen packages in your neighborhood, where users also post any pictures of porch pirates they might have caught on their doorbell cameras.

    One thing to keep in mind should you happen to spot a porch pirate stealing a package, try to avoid “being the hero”.

    As much as we want to jump into action and stop them, one never knows just how dangerous these porch pirates might be, so best to call the police or notify another neighbor before taking matters into your own hands.

    Copyright 2022 CyberGuy.com. All rights reserved. CyberGuy.com articles and content may contain affiliate links that earn a commission when purchases are made.

    Kurt “CyberGuy” Knutsson is an award-winning tech journalist who has a deep love of technology, gear and gadgets that make life better with his contributions for Fox News & FOX Business beginning mornings on “FOX & Friends.” Got a tech question? Get Kurt’s CyberGuy Newsletter, share your voice, a story idea or comment at CyberGuy.com.

    [ad_2]

    Source link

  • Microsoft could soon have its first union | CNN Business

    Microsoft could soon have its first union | CNN Business

    [ad_1]



    CNN
     — 

    Some 300 quality assurance workers at Microsoft-owned gaming studio ZeniMax are in the process of voting to form what would be the first union at the tech giant, organizers confirmed to CNN Business.

    The workers are organizing with the Communications Workers of America (CWA) union and have until the end of December to vote on it. Microsoft has agreed to recognize the union if a majority of the workers vote in favor of it, according to the CWA.

    “We applaud Microsoft for remaining neutral through this process and letting workers decide for themselves whether they want a union,” CWA President Christopher Shelton said in a statement to CNN Business. “Other video game and tech giants have made a conscious choice to attack, undermine, and demoralize their own employees when they join together to form a union. Microsoft has made a different choice, which other corporations would be wise to emulate for the good of their corporate culture, their workers, and their customers.”

    The organizing efforts at the gaming studio come amid a broader labor awakening that has erupted across major companies in the tech industry and beyond, including retail and warehouse workers at Amazon, Apple and Starbucks. Some companies like Amazon have so far refused to recognize workers who have voted to form a union.

    The union bid at the Microsoft subsidiary, however, stands out from some of the others because Microsoft has previously vowed to recognize the rights of workers to organize. Earlier this year, Microsoft entered into a neutrality agreement with the CWA, which is also supporting organizing efforts from workers at Activision Blizzard, the gaming giant Microsoft agreed to acquire for $68.7 billion. (The deal is pending regulatory approval.)

    Over the past year, the gaming sector has seen a larger worker-led push for improved workplace conditions after a number of controversies related to grueling work-life balance, pay inequities, poor job stability and other complaints over workplace culture at some of the country’s biggest gaming studios.

    A Microsoft spokesperson told CNN Business on Monday evening that its neutral stance toward the organizing efforts of ZeniMax employees is “an example of our labor principles in action.” The spokesperson said Microsoft remains committed “to providing employees with an opportunity to freely and fairly make choices about their workplace representation.”

    Joe Slack, an associate quality assurance tester who is part of the organizing committee for the ZeniMax union, said workers are “not starting a union to be against the company.” Instead, the effort is largely about giving workers a seat at the table as management makes decisions that will impact them.

    “We just really wanted to have a voice,” Slack told CNN Business, “and try and help with communication with management, and figuring out how we can deal with all these different things that challenge the group as a whole.” Slack said workers came together after seeing “just so much room for improvement” in their workplace.

    Slack said Microsoft has been “very accommodating” throughout the process, ever since organizers first approached the company about the union. “They understand that it’s a right and they wanted to leave it up to the workers,” Slack said.

    “There’s this perception of an adversarial relationship between the union and management, and it doesn’t have to be that way,” Slack added. “I’m happy to be part of a group that’s trying to prove that and improve everybody’s life and well-being in the process.”

    [ad_2]

    Source link

  • Sigfox tech owner UnaBiz doubles its Series B funding to $50 million

    Sigfox tech owner UnaBiz doubles its Series B funding to $50 million

    [ad_1]

    UnaBiz, the Massive Internet of Things service provider and owner of Sigfox’s technology, announced today it has raised another $25 million in Series B funding. This doubles the round’s total amount to $50 million, after the first tranche was announced in October 2021. UnaBiz, which is based in Singapore, has now raised $60 million in total.

    The funding was led by SPARX Group, an investment company based in Tokyo, with participation from G K Goh Holdings and Optimal Investment, all returning investors. A UnaBiz representative told TechCrunch that the new capital will prepare UnaBiz for its next stage of growth so it can focus on driving commercial activities and delivery to customers in 2023, regardless of economic conditions.

    UnaBiz acquired Sigfox’s tech in April after the French IoT startup filed for bankruptcy protection. The acquisition doubled UnaBiz’s office locations and tripled its headcount to more than 240 employees. The UnaBiz representative said it has closed down SigFox’s loss-making entities and brought in new executives, including a chief customer officer to focus on pipeline and revenue streams, a chief operating officer to oversee operations stability and cost optimization and a chief technology officer. Its goal is to consolidate its business more quickly.

    UnaBiz plans to invest in four verticals (utilities, security, facilities management and supply chain and logistics) across Latin America, APAC and EMEA. The funding will also be used on research and development for the company’s 0G capabilities and expand its product portfolio to include more LPWAN and satellite tech.

    In a statement about its investment in UnaBiz, SPARX Group president and CEO Shuhei Abe said, “As the technology owner of the most energy-efficient LPWAN technology available on the market, UnaBiz is in a prime position to champion the convergence of Massive IoT communication technologies (from 0G to 5G) to help enterprises achieve their digitalization and sustainability goals.”

    [ad_2]

    Catherine Shu

    Source link

  • Murderous 1600s pirate hid out in US colonies with impunity

    Murderous 1600s pirate hid out in US colonies with impunity

    [ad_1]

    WARWICK, R.I. — One tarnished silver coin at a time, the ground is yielding new evidence that in the late 1600s, one of the world’s most ruthless pirates wandered the American colonies with impunity.

    Newly surfaced documents also strengthen the case that English buccaneer Henry Every — the target of the first worldwide manhunt — hid out in New England before sailing for Ireland and vanishing into the wind.

    “At this point, the amount of evidence is overwhelming and indisputable,” historian and metal detectorist Jim Bailey, who’s devoted years to solving the mystery, told The Associated Press. “Every was undoubtedly on the run in the colonies.”

    In 2014, after unearthing an unusual coin engraved with an Arabic inscription at a pick-your-own-fruit orchard in Middletown, Rhode Island, Bailey began retracing Every’s steps.

    Research confirmed that the exotic coin was minted in 1693 in Yemen. Bailey then discovered that it was consistent with millions of dollars’ worth of coins and other valuables seized by Every and his men in their brazen Sept. 7, 1695, sacking of the Ganj-i-Sawai, an armed royal vessel owned by Indian emperor Aurangzeb.

    Historical accounts say Every’s band tortured and killed passengers aboard the Indian ship and raped many of the women before escaping to the Bahamas, a haven for pirates. But word quickly spread of their crimes, and English King William III — under enormous pressure from a scandalized India and the influential East India Company trading giant — put a large bounty on their heads.

    Detectorists and archaeologists have since located 26 similar coins stretching from Maine to the Carolinas. All but three coins turned up in New England, and none can be dated later than when the Indian ship was captured.

    “When I first heard about it, I thought, ‘Wait a minute, this can’t be true,’” said Steve Album, a rare coin specialist based in Santa Rosa, California, who helped identify all of the silver Arabic coins found in New England.

    “But these coins have been found legitimately and in a few instances archaeologically, and every single one predates the sacking of the ship,” said Album, who has lived in Iran and has traveled widely in the Middle East.

    Detectorists have also unearthed a gold nugget weighing 3 grams (a tenth of an ounce) — slightly heavier than a U.S. penny — from a potato field perched on a hilltop in seaside Little Compton, Rhode Island.

    There’s no documented evidence that naturally occurring gold has ever been found in the state. Bailey and other experts believe that the nugget likely originated somewhere along Africa’s Gold Coast, a center for the slave trade in the late 17th and early 18th centuries. Adding to the intrigue, two silver Arabic coins were recovered not far from the nugget, and Every is known to have seized a considerable amount of gold while sailing off the coast of West Africa.

    The latest evidence putting Every on American soil isn’t just metallic — it includes paper and pixels.

    Bailey had already found records showing that the Sea Flower, a ship used by Every and his men after they ditched the vessel they’d used in their murderous raid, arrived in 1696 in Newport, Rhode Island. He’s since surfaced documents that show that the pirate captain was accompanied by three Rhode Islanders he took aboard from another pirate vessel when he fled India. All three came ashore with Every in the Bahamas on March 30, 1696, and Bailey said that they essentially served as getaway drivers in exchange for plunder.

    Captured pirates William Phillips and Edward Savill testified on Aug. 27, 1696, that one of two ships that left the Bahamas went to Virginia and New England before reaching Ireland. Critically, Bailey said, the records clarify a muddy timeline that long has been misinterpreted by historians to suggest Every lingered two months on the Caribbean island — something he’d never have done as a fugitive.

    “There’s no way he stayed in the Bahamas to sit on the beach and work on his tan while waiting to be captured,” Bailey said. “Indeed, Every was in New England for over a month weighing his options for starting his life anew in the colonies or going back home to England.”

    Every’s exploits have inspired Steven Johnson’s book “Enemy of All Mankind,” and the final installment of PlayStation’s popular “Uncharted” video game franchise. Earlier this year, Sony Pictures released a movie adaptation starring Tom Holland, Mark Wahlberg and Antonio Banderas.

    Bailey’s next challenge: figuring out what happened to Every after the trail ran cold following his arrival in Ireland on June 20, 1696. It’s the mystery’s elusive final chapter — one he hopes to detail in a forthcoming book about the cold case.

    “We’re chasing down the lost history behind one of the greatest crimes of the 17th century,” he said.

    [ad_2]

    Source link

  • Stalkers use Apple AirTags to track victims, lawsuit claims

    Stalkers use Apple AirTags to track victims, lawsuit claims

    [ad_1]

    Stalkers use Apple AirTags to track victims, lawsuit claims – CBS News


    Watch CBS News



    At least two women have filed a class-action lawsuit against Apple, claiming their ex-partners used AirTags to track and stalk them. Lilia Luciano has more details.

    Be the first to know

    Get browser notifications for breaking news, live events, and exclusive reporting.


    [ad_2]

    Source link

  • Indiana sues TikTok, citing safety and security concerns

    Indiana sues TikTok, citing safety and security concerns

    [ad_1]

    INDIANAPOLIS — Indiana’s attorney general on Wednesday sued Chinese-owned social media app TikTok, claiming the video-sharing platform misleads its users, particularly children, about the level of inappropriate content and security of consumer information.

    Republican Attorney General Todd Rokita claimed in a complaint filed Wednesday that while the social video app says it is safe for users 13 years and older, the app contains “salacious and inappropriate content” available to young users “for unlimited periods of time, day and night, in an effort to line TikTok’s pockets with billions of dollars from U.S. consumers.”

    A separate complaint from Rokita argues the app has users’ sensitive and personal information but deceives consumers into believing that information is secure.

    “At the very least, the company owes consumers the truth about the age-appropriateness of its content and the insecurity of the data it collects on users,” Rokita said in a press release Wednesday.

    TikTok is owned by ByteDance, a Chinese company that moved its headquarters to Singapore in 2020. The app has been targeted by Republicans who say the Chinese government could access its user data like browsing history and location. U.S. armed forces also have prohibited the app on military devices.

    In a company statement, TikTok said its “top priority” is “the safety, privacy and security of our community.”

    “We build youth well-being into our policies, limit features by age, empower parents with tools and resources, and continue to invest in new ways to enjoy content based on age-appropriateness or family comfort,” the statement said. “We are also confident that we’re on a path in our negotiations with the U.S. Government to fully satisfy all reasonable U.S. national security concerns, and we have already made significant strides toward implementing those solutions.”

    The app exploded in popularity with a nearly addictive scroll of videos, but it has also struggled to detect ads that contain blatant misinformation about U.S. elections, according to an October 2020 report from nonprofit Global Witness and the Cybersecurity for Democracy team at New York University.

    Most recently, Maryland Gov. Larry Hogan on Tuesday banned the use of TikTok and certain China and Russia-based platforms in the state’s executive branch of government, a measure to address cybersecurity risks presented by the platforms.

    That directive followed Republican South Dakota Gov. Kristi Noem banning state employees and contractors on Nov. 29 from accessing TikTok on state-owned devices, citing the app’s ties to China. South Carolina Gov. Henry McMaster, also a Republican, on Monday asked the state’s Department of Administration to ban TikTok from all state government devices it manages. In August 2020, Nebraska Gov. Pete Ricketts blocked TikTok on state electronic devices.

    ———

    Arleigh Rodgers is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Arleigh Rodgers on Twitter at https://twitter.com/arleighrodgers

    [ad_2]

    Source link

  • FTX Founder Sam Bankman-Fried Faces Market Manipulation Inquiry

    FTX Founder Sam Bankman-Fried Faces Market Manipulation Inquiry

    [ad_1]

    Federal prosecutors are investigating whether FTX’s founder, Sam Bankman-Fried, manipulated the market for two cryptocurrencies this past spring, leading to their collapse and creating a domino effect that eventually caused the implosion of his own cryptocurrency exchange last month, according to two people with knowledge of the matter.

    U.S. prosecutors in Manhattan are examining the possibility that Mr. Bankman-Fried steered the prices of two interlinked currencies, TerraUSD and Luna, to benefit the entities he controlled, including FTX and Alameda Research, a hedge fund he co-founded and owned, the people said.

    The investigation is in its early stages, and it is not clear whether prosecutors have determined any wrongdoing by Mr. Bankman-Fried, or when they began looking at the TerraUSD and Luna trades. The matter is part of a broadening inquiry into the collapse of Mr. Bankman-Fried’s Bahamas-based cryptocurrency empire, and the potential misappropriation of billions of dollars in customer funds.

    Federal prosecutors and the Securities and Exchange Commission have been examining whether FTX broke the law by transferring its customer funds to Alameda. Last month, a run on deposits exposed an $8 billion hole in the exchange’s accounts, causing the company to collapse. Mr. Bankman-Fried stepped down as FTX’s chief executive when the company filed for bankruptcy on Nov. 11.

    FTX is also under investigation for violating U.S. money-laundering laws that require money transfer businesses to know who their customers are and flag any potentially illegal activity to law enforcement authorities, three people familiar with the investigation said. That investigation, first reported by Bloomberg News, began several months before the bankruptcy of FTX. Investigators are also looking into the activities of other offshore cryptocurrency trading platforms.

    In a statement, Mr. Bankman Fried said he was “not aware of any market manipulation and certainly never intended to engage in market manipulation.”

    “To the best of my knowledge, all transactions were for investment or for hedging,” he added.

    Representatives of the U.S. attorney for the Southern District of New York declined to comment. Representatives of FTX did not immediately respond to requests for comment.

    The focus on possible market manipulation adds to the legal storm brewing around Mr. Bankman-Fried. It is illegal for an individual to knowingly stage market activity designed to move the price of an asset up or down.

    TerraUSD was a so-called stablecoin, but unlike other stablecoins, its value wasn’t backed directly by the U.S. dollar. Rather, it maintained its value from a second coin called Luna through a complex set of algorithms. Traders within the digital ecosystem could mint these coins, the prices of which would fluctuate based on how many were in circulation. Anytime the price of TerraUSD fell, the supply of Luna would increase, as traders created more Luna to try to capitalize on the difference.

    In May, major cryptocurrency market makers — exchanges or individuals who arrange for buyers and sellers to be matched — noticed a flood of “sell” orders coming in for TerraUSD, said one person with knowledge of the market activity. The orders were in small denominations, but they were placed very quickly, the person said.

    The sudden jump in sell orders for TerraUSD overwhelmed the system, making it hard to find matching “buy” orders for them. Under normal conditions, any sell orders that remained unfulfilled for too long would be matched with buy orders at a lower price. The longer the orders lingered without being matched, the more they forced down the price of TerraUSD and caused a corresponding drop in Luna prices because of the way the two coins were linked..

    The exact causes of the collapse of the two cryptocurrencies remain unclear. However, the bulk of the sell orders for TerraUSD appeared to be coming from one place: Sam Bankman-Fried’s cryptocurrency trading firm, which also placed a big bet on the price of Luna falling, according to the person with knowledge of the market activity.

    Had the trade gone as expected, the price declines in Luna could have yielded a fat profit. Instead, the bottom fell out of the entire TerraUSD-Luna ecosystem. The collapse caused more trouble in the cryptocurrency industry, sending several prominent companies into bankruptcy and erasing about $1 trillion in value from the crypto market.

    The ripple effects from the Luna crash ultimately contributed to the collapse of Mr. Bankman-Fried’s business empire. In November, Caroline Ellison, the chief executive of Alameda, told staff that loans to Alameda were recalled as a result of the market chaos unleashed by the crash, according to a person familiar with the matter. But the funds that Alameda had borrowed were no longer easily available, Ms. Ellison told the staff, so the company used FTX customer funds to make the payments.

    An attorney for Ms. Ellison did not return requests for comment.

    [ad_2]

    Emily Flitter, David Yaffe-Bellany and Matthew Goldstein

    Source link

  • Former Theranos exec Ramesh

    Former Theranos exec Ramesh

    [ad_1]

    The former chief operating officer of disgraced biotech startup Theranos has been sentenced to 12 years and 10 months in prison.

    Judge Edward Davila of the Northern District of California sentenced Ramesh “Sunny” Balwani to 155 months in prison and three years of probation. Balwani, 57, must surrender himself on March 15, Davila ruled.

    Balwani was Theranos’ chief operating officer for six years, during which time he also maintained a romantic relationship with Holmes. He was convicted in July of 12 counts of fraud and conspiracy for his role in the company, which fraudulently claimed it developed a medical device that could scan for hundreds of diseases with a few drops of blood.


    Former Theranos CEO Elizabeth Holmes sentenced to more than 11 years in prison for fraud

    02:05

    Balwani convicted of 12 felony counts

    Prosecutors had asked for Balwani to serve 15 years in prison. Balwani’s defense team had asked for probation only, arguing that he had invested his own money into Theranos and lost it all.

    Balwani did not speak at his sentencing hearing in San Jose, which stretched over four hours. He intends to appeal the sentence, his attorney told reporters.

    The sentencing comes less than three weeks after Elizabeth Holmes, the company’s founder and CEO, received more than 11 years in prison for her role in the scheme. The scandal revolved around the company’s false claims to have developed a medical device that could scan for hundreds of diseases and other potential problems with just a few drops of blood taken with a finger prick.

    On the stand, Holmes described her relationship with Balwani as controlling, and said Balwani manipulated her through years of emotional and sexual abuse. Balwani’s attorney has denied the allegations.

    While Balwani was convicted of all 12 felony counts, Holmes was convicted of just four. The jury acquitted her of several charges of defrauding and conspiring against people who paid for Theranos blood tests that produced misleading results. The jury in Holmes’ trial also deadlocked on three charges.

    Balwani’s trial was sparsely attended, and on Wednesday no one was in line an hour before the courthouse opened to attend his sentence. That’s a sharp contrast to the queue that began to form five hours before the doors opened at Holmes’ November 18 sentencing.


    Impact of Elizabeth Holmes’ guilty verdict on Silicon Valley

    01:48

    Portrait of hardworking immigrant

    In court documents, Balwani’s lawyers painted him as a hardworking immigrant who moved from India to the U.S. during the 1980s to become the first member of his family to attend college. He graduated from the University of Texas in 1990 with a degree in information systems.

    He later moved to Silicon Valley, where he first worked as a computer programmer for Microsoft before founding an online startup that he sold for millions of dollars during the dot-com boom of the 1990s.

    Balwani and Holmes met around the same time she dropped out of Stanford University to start Theranos in 2003. He became enthralled with her and her quest to revolutionize health care.

    Balwani’s lawyers said he eventually invested about $5 million in a stake in Theranos that eventually became worth about $500 million on paper — a fraction of Holmes’ one-time fortune of of $4.5 billion.

    That wealth evaporated after Theranos began to unravel in 2015 amid revelations that its blood-testing technology never worked as Holmes had boasted. Before Theranos’ downfall, Holmes teamed up with Balwani to raise nearly $1 billion from deep-pocketed investors that included software mogul Larry Ellison and media magnate Rupert Murdoch.


    Tyler Shultz reacts to Elizabeth Holmes verdict

    07:02

    “Not the same as Elizabeth”

    “Mr. Balwani is not the same as Elizabeth Holmes,” his lawyers wrote in a memo to the judge. “He actually invested millions of dollars of his own money; he never sought fame or recognition; and he has a long history of quietly giving to those less fortunate.” Balwani’s lawyers also asserted that Holmes “was dramatically more culpable” for the Theranos fraud.

    Echoing similar claims made by Holmes’s lawyers before her sentencing, Balwani’s attorneys also argued that he has been adequately punished by the intense media coverage of Theranos, which has been the subject of a book, documentary and award-winning TV series.

    Balwani “has lost his career, his reputation and his ability to meaningfully work again,” his lawyers wrote.

    Federal prosecutors cast Balwani as a ruthless, power-hungry accomplice in crimes that ripped off investors and imperiled people who received flawed results. The blood tests were to be available in a partnership with Walgreen’s that Balwani helped engineer.

    “Balwani presented a fake story about Theranos’ technology and financial stability day after day in meeting after meeting,” the prosecutors wrote in their memo to the judge. “Balwani maintained this façade of accomplishments, after making the calculated decision that honesty would destroy Theranos.”

    [ad_2]

    Source link