When the COVID-19 pandemic struck and forced much of the world to live remotely, many experts feared the internet would melt down. It didn't happen. Shira Ovide of the New York Times examines what went right and spotlights the people and technologies that made our digital life sustainable.
Buzzer, a live-sports streaming service founded in January 2020, has raised $20 million in its latest founding round from venture capital firms and a group of investors including Michael Jordan, Wayne Gretzky, Patrick Mahomes and Naomi Osaka, Ad Age reports. Buzzer’s app aggregates streaming rights so users can get customized multisport alerts, notifications and live game action for a fee starting at 99 cents for 10 minutes.
A federal judge this week dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, AP reports. The judge ruled that the lawsuits were “legally insufficient” and didn’t provide enough evidence to prove that Facebook was a monopoly. The ruling dismisses the complaint but not the case, meaning the FTC could refile another complaint.
Robinhood will pay roughly $70 million in penalties for its systemwide outages and misleading communication and trading practices, the Financial Industry Regulatory Authority said this week. FINRA fined Robinhood $57 million and ordered the stock trading app to pay nearly $13 million in restitution to thousands of clients, CNBC reports. The fine was the highest ever levied by FINRA.
Founders are often faced with the question of whether their startup could survive if big tech turned around and released a competing product or service. Inc. magazine says it's possible to both survive and thrive: Last year, billions in revenue was generated by 10 startups that are competing with Google and winning.
Hrishikesh Pardeshi learned valuable lessons when he co-founded Flexiple, a startup that has achieved $2 million in annual revenues. That experience came in handy when he started Remote Tools, an online community for remote workers. Writing on Contently, he lists the "13 biggest marketing lessons I wish professors taught me in business school."
The research firm Gartner predicts that by 2024, 80 percent of tech products and services will be built by people who are not technology professionals. “The barrier to become a technology producer is falling due to low-code and no-code development tools,” Gartner VP Rajesh Kandaswamy told VentureBeat. When asked what kinds of tech products and services these findings apply to, he said “all of them.”
A blockchain-based non-fungible token representing the original source code for the World Wide Web written by inventor Tim Berners-Lee sold for $5.4 million at Sotheby's in an online auction on Wednesday, Reuters reports. While no small change, the sale price fell far short of the amount paid in March for an NFT of a digital collage by the American artist Beeple: $69.3 million.
Phan Huynh Anh Khoa capitalized on Vietnam's digital development—and Facebook's negligence—to build a wildlife trading empire and become the “King of Squirrels.” Then Vietnam’s leading wildlife protection organization brought him down, Rest of World reports.
A prototype flying car has completed a 35-minute flight between in Slovakia, the BBC reports. The hybrid car-aircraft, AirCar, is equipped with a BMW engine and runs on regular gasoline. It takes two minutes and 15 seconds to convert from car into aircraft (video).