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Tech News: Meta Still Wants to Make Zuck Bucks

Published Apr 7, 2022, 5:57 PM

Meta ditched Diem but still plans to introduce a digital currency that employees call "Zuck Bucks." Some of Mark Zuckerberg's employees refer to him as the "Eye of Sauron" and somehow he doesn't think that's a bad thing. And we hear about a lawsuit that claims IBM fudged numbers on its revenue filings.

Welcome to tech Stuff, a production from I Heart Radio. Hey there, and welcome to tech stuff. I'm your host job in Strickland. I'm an executive producer for I Heart Radio. And how the tech are you. It's time for the tech news for April seven, twenty twenty two. Let's get into it. Here in the United States, the White House, which for those of you outside the US, isn't just the reference for you know, the place where the president lives. It's actually shorthand for the U S President and their advisors. The White House has urged US lawmakers to expedite legislation that will provide aid to the semiconductor industry here in the States. Both the Senate and the House, the two branches of Congress, have approved separate plans to provide subsidies and other aid to give semiconductor production companies here in America a boost. But the two plans take slightly different approaches, and so before things can move any further, the two branches of Congress have to reconcile those plans into a single approach, which then can be voted upon and sent up to the President to sign into law. The White House indicated that this should be a top priority for Congress as the ongoing semiconductor shortage continues to cause massive economic harm. Brian de Se, the National Economic Council Director at the White House, says that estimates suggest the semiconductor shortage here in the US shaved off a full percentage point off the nation's gross domestic product or g d P. Now, one percent might not sound like a whole lot, right, I mean, it's just a single percentage point. But just wait and in case it's been a while since you've studied economics, the gross domestic product of a country is the total value of goods produced and services prom bided in a year. So you take all of that, all the goods and services that are sold and uh provided over a full year, you added all up, you got your GDP. For the United States, the GDP and one was twenty three trillion dollars. So a single percentage point is equivalent to two hundred thirty billion dollars. That is mind boggling to me. And if those estimates are accurate, it really underlines how important it is to address this semiconductor supply chain issue. The White House also stressed that semiconductors are important, not just for consumer goods that range from phones to vehicles, but they also play a crucial role in the us is technological strategy, including national security. The White House also pointed out how the US used to be a major producer of semi conductors, being responsible fort of all chips produced in the world back in Today that number is down to twelve. Will Congress put together a plan that will help turn all that around? Well, we'll keep an eye on it and report as we learn more. Earlier this year, we heard that meta slash Facebook was pulling the plug on its DM cryptocurrency formerly known as Libra. So d M was supposed to launch a couple of years ago back in but a combination of factors, largely dealing with concern from various government regulators, and then you've had a whole bunch of partners in the project bailing on it once they saw that governments were potentially opposing this or going to highly regulated and a lot of companies said you know what, no, I'm good, I'm out, and they ended up killing off the project as a result. However, the dream of a meta based digital currency remains now. I don't think it should come as a surprise that that's the case because Meta's long term goal is to become the primary portal into whatever the metaverse ends up being. Clearly, Meta has a vested interest in dominating as much of that ecosystem as possible, including the method of exchange that people will depend upon in order to access virtual goods and services, or perhaps even real goods and services that you order through the virtual environment. Meta employees referred to the virtual currency proposal as zuck Bucks, named after Facebook founder Mark Zuckerberg. Unlike d M, which was to be a cryptocurrency built on a special blockchain, and I say special because only partners in the endeavor would have access to it, so like the big companies behind it would have the the supervision of the blockchain, but the rest of us peons wouldn't. Anyway, the zuckbox are more likely to be a simple digital currency or token with no blockchain backing. So if you're an Xbox fan, and you've been an Xbox fan for a while, you might remember that in the old days, you would purchase Microsoft Points, which you could then redeem to buy digital copies of games and other virtual goods such as avatar options for your Xbox profile and If you do remember those days, you probably also remember that the number of points you could buy per given amount of money was usually a quantity that would not align precisely with the number of points you needed in order to trade in for a game. For example, you might be able to buy four hundred or eight hundred points. Like let's say if you spend ten bucks, you get four hundred points, and twenty bucks you get eight hundred points. But you might see a game that is sold for six hundred points, and you can't buy just six hundred. It's either four hundred or eight hundred. This is the classic hot dogs come and you know in ten and hot dog buns come in eight kind of situation. Maybe I have that backwards, but anyway, you got it, like in order for the things to equal out, you have to buy multiples, and folks did not like that system. And to be clear, we have seen the same source of stuff employed elsewhere. I mean, Disney did it with Disney dollars. So it may very well be that zuckbucks are kind of similar to those earlier examples. There'll be tokens that you'll be able to purchase stuff in metaverse or in platform or whatever. The Verge reports that this does not mean that Meta has abandoned blockchain altogether. The company is exploring how to interface with n f T s. Yeah, and just a quick reminder on what those are. N f T stands for non fungible token and uh. It's essentially a digital marker or certificate that indicates that you have ownership over some digital asset. An example might be an instance of a particular digital drawing. Your n f T shows that you own that particular instance of the digital drawing. I usually say it's kind of like having a receipt, but you don't have the physical thing that the receipt represents. Anyway, it's interesting to me that Facebook is moving ahead with this as n f T s I think peaked more than a year ago, and the general feeling I get, and I know anecdotal evidence is worthless, but the general feeling I get is that a lot of folks have kind of soured on n f T s, largely because there were such crazy speculation in the early days, coupled with con artists who were running n f T scams, and it really soured people on the whole thing. One more quick Meta related item, mark Zuckerberg sat down for an interview on the Tim Ferris Show recently and revealed that some employees that Meta have a cute pet name for him, the Eye of Soon. Now, I don't expect all of y'all to be fully versed in the Lord of the Rings mythology. I mean, I have a Lord of the Rings tattoo on my left arm, but that's just me. Anyway, Soon in the Middle Earth mythology is the big bad who way before the Lord of the Rings story. He was defeated in battle. His physical form was destroyed, but he still existed, right, His physical form was gone, but the essence of Suron remained and would sometimes manifest as this enormous eye that can see across all of Middle Earth. And if the eye falls on you, then it means Sauron is watching you, and bad things are likely to happen to you. So my interpretation of this pet name is that employees that Meta really hope that they can do all their work without catching Zuckerberg's attention, and that if he should see what you're working on, chances are your life is about to get a whole lot more complicated. Now, granted, this is my interpretation, and perhaps I'm well off the mark pun intended, but I can't imagine a world where being called I have Sauron is a good thing. The Wall Street Journal reports that Google has pulled several laps, dozens of them in fact, after researchers from UC Berkeley and University of Calgary showed that the apps contain code that would pull personal information from users, including stuff like the user's phone number, email address, and precise location it was harvesting personal data this code and the code came from a single source, according to the researchers, a company called Measurement Systems, which may have ties to a defense contractor company in Virginia, which is something that Measurement Systems vehemently denies. Now obviously, the idea that the company was purposefully introducing covert surveillance code in what appeared to be innocent apps, ranging from weather apps to QR scanner apps to even prayer apps that can get a bit big brother ish. Apparently, the company told developers that it was primarily interested in user data on people from Central and Eastern Europe, the Middle East, and Asia. As the researchers noted, the type of info collected could end up putting people in danger. I mean, just imagine a political activist or maybe a journalist who had is one of these apps installed on their device. UH Measurement Systems or perhaps one of his clients could potentially track that person simply by looking up their phone number or email address and then looking over their location history. Measurement Systems issued a statement denying the Wall Street Journal piece, claiming the company has no knowledge of this defense contractor that was cited in the in the article, and whether that's true or not, Google did take steps to pull the associated apps out of its app store. We have several more news items to go over, but before we get to that, let's take a quick break. Apple Insider reports that Apple is testing a feature with developers that would allow those developers to administer price hikes on in app subscriptions without first getting users permission to do so. The standard Apple policy is that if an app developer decides to raise sub ccription prices, the information is sent out as a notification to users, who can then either agree to the new price and then keep using the app, or decline and allow their subscription to lapse. This new approach alerts users, but it doesn't have an agree feature. You're not being asked to agree to the price actor you're being told that the price is going up, and there's a large okay feature that just dismisses the alert, and then there's a much smaller review your subscription or something similar if you want to go and adjust your subscription and cancel it. So in other words, this has gone from an opt in approach where the user agrees to pay the higher price, to an opt out approach where the user has to purposefully navigate through the system to cancel their subscription if they don't want to spend that much per month. Disney Plus has already made use of this feature, alerting users to increase prices without giving an obvious way to decline and cancel the subscription, and so far this feature has only been rolled out to a few developers like Disney and obviously, switching from an opt in model to an opt out model will likely mean a big boost in user retention because fewer people will actually go through the trouble to take the necessary steps to cancel if it's more than just a single button push, which gets pretty insidious in my opinion. Recently, I talked about how Microsoft browser Edge scooched ahead of Apple's Safari on the desktop browser market share, not in mobile but desktops, and I mentioned that one reason that may have contributed to that was that for a while, Microsoft made it pretty darn hard to switch to a different default browser than Edge if you were on the Windows eleven machine. Microsoft then issued an update to Windows eleven that's simplified the process, but the update is an optional update. Now, the fact that it is optional and not listed as something, you know, more urgent as upset other browser companies. So the concern is that less savvy users won't have the competency to seek out and install an optional update, and that microsoft solution to the problem wasn't really to address the underlying issue, but rather to skirt criticisms that the company was behaving in an anti competitive way. Folks who know Microsoft's history in general, especially when it comes to web browsers, might get the feeling that history is repeating itself. The company faced antitrust lawsuits a few decades ago on a similar issue, and it sounds like at least some folks are suggesting it may soon again face similar anti trust lawsuits, including ones in the EU. Meanwhile, IBM has been hit with a lawsuit that claims the company shifted numbers around on its revenue reports in an effort to boost the company's stock price and executive bonuses. And this, I guess you could argue this is tangential to tech, but I think it's important that we recognize when companies do this. And here's what the lawsuit says happened. IBM took revenue that came from its non strategic businesses, primarily a mainframe business, and then shifted that revenue so that instead, on paper, appeared to come from business divisions that the company had identified as being strategic are crucial. Those businesses are cloud analytics, mobile, social media, and security, which collectively are called CAMS, c A, M S S. Executive bonuses tied into CAMS revenue at least until two thousand nineteen, but it did not tie into non strategic businesses. And the whole idea was that the strategic businesses were the ones that are critical for IBMS growth and success. That, in other words, if the company is doing well in those divisions, then it is performing well according to the views of the stock market, and that the company is succeeding. But if it were just making money and other businesses that are not considered strategic, like there's no way to easily grow that or develop it into more sophisticated businesses, then that that's not really a marker of success. This is because we frequently define success as growth, not revenue. Right. Revenue is important, but it's not as important as growing the business. So that's what came down to. And the idea here is that the CAMS businesses were not performing to the level that IBM wanted, so they just quietly started shifting money around so that this non strategic stuff would be put into strategic businesses. Uh. And thus executives would end up raking in huge bonuses and the stock market price would improve, right it would. It would go up because the company looks like it's doing great. But according to this lawsuit, that was all a ruse um at least until two thousand nineteen, when the company shifted its formula to depend on total IBM revenue when it comes to executive bonuses. So part of the lawsuit also says that IBM ended up laying off thousands of account executives and shifting higher level executives around in an effort to kind of obview skate what had happened. Again, this is all according to the lawsuit. Obviously, IBM will have its own, uh response to this. We'll have to wait and see what happens, and it may take a while before the whole story comes out, and in fact, it may never come out. This might be one of those matters where the parties settle out of court and they do it on the hush hush, and we never really learn more about it. But yeah, it sounds pretty questionable to me. Twitter has changed up how it treats embedded tweets, which has caused a big stir in the online community. Let's break this down really quickly. So you probably are aware that you can embed a specific tweet into a web page and news Outlet's do this all the time, right. They'll do a story about something and then you'll scroll down through the story and you'll see a bunch of embedded tweets that relate to the story. I had this happened to me with a goofy tweet I made once. I can't remember what it was. I just remember, out of nowhere, my notifications exploded because some some publication somewhere pulled one of my tweets on context and put it up on an article. Anyway, you probably also know it's possible to delete a tweet, but until recently, embedded tweets were not affected if the original tweet was deleted. So if I posted something and someone embedded my tweet in their article, and then I went on and deleted my tweet, the embedded tweet would still be there. That's no longer the case. Twitter has now changed it so that a JavaScript will cover up the contents of a Twitter message that has been deleted and and hide it. So now there's a concern that the historical record can't be preserved because if someone just goes in and starts deleting their their Twitter messages, then it's going to disappear everywhere, not just on Twitter, but anywhere where the tweet was embedded did so. It will probably take a little bit to see how this shakes out, but the early response has been uh very critical, let's say. And finally, a hacker managed to compromise the Vivo based YouTube accounts of several notable celebrities in music. They included Justin Bieber, a little non sex The Weekend and Harry Styles, among many others. The hacker then uploaded videos arguing for the release of Paco Pans, a guy who received a two year jail sentence because he scammed people out of money after he lied that he had terminal cancer. Vivo acknowledged that quote some videos were directly uploaded to a small number of Vivo artists channels earlier today by an unauthorized source. End quote now. The company also stated it was reviewing its security practices to make certain something like this does not happen again. And in case you weren't aware, Vivo serves as a type of go between that sits between musical artists or their label and YouTube, and Vivo handles official music video uploads and then those uploads can appear on an artist's own YouTube channel as if they themselves had uploaded it directly to YouTube. So it does look like these instances indicate that the security breach was on Vivo side, not YouTube's. That's it for the Tech News for Thursday, April seven, two thousand twenty two. As always, if you have suggestions for topics I should cover on tech stuff, reach out to me on Twitter. The handle for the show is text Stuff hs W and I'll talk to you again releas soon. Tex Stuff is an I Heart Radio production. For more podcasts from my Heart Radio, visit the i heart Radio app, Apple Podcasts, or wherever you listen to your favorite shows.

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