Daily Tech Snippet: Friday, September 23

• Facebook Says It Gave Advertisers Inflated Video Metrics: Facebook Inc. has been giving advertisers an inflated metric for the average time users spent watching a video, a measurement that may have helped boost marketer spending on one of Facebook’s most popular ad products. The company, owner of the world’s largest social network, only counts a video as "viewed" if it has been seen for more than 3 seconds. The metric it gave advertisers for their average video view time incorporated only the people who had watched the video long enough to count as a "view" in the first place, inflating the metric because it didn’t count anyone who didn’t watch, or watched for a shorter time. Facebook’s stock fell more than 1.5 percent in extended trading after the miscalculation was earlier reported in the Wall Street Journal. Facebook had disclosed the mistake in a posting on its advertiser help center web page several weeks ago. Big advertising buyers and marketers are upset about the inflated metric, and asked the company for more details, according to the report in the Journal, citing unidentified people familiar with the situation. The Menlo Park, California-based company has kept revenue surging in part because of enthusiasm for its video ads, which advertisers compare in performance to those on Twitter, YouTube and around the web.

• Apple Inc. has acquired Indian machine-learning startup Tuplejump  as it seeks to expand its expertise in artificial intelligence. The iPhone maker bought the Hyderabad, India-based company in June, according to a person familiar with the deal who asked not to be identified. Tuplejump’s software specializes in processing and analyzing big sets of data quickly. The deal was reported earlier by TechCrunch. The purchase price wasn’t disclosed. Tuplejump has about a dozen employees, many of whom were already based on the west coast of the U.S., the person said. Founder Rohit Rai’s LinkedIn profile says he started working for Apple in May and is now also based in Seattle.

• Yahoo has confirmed a data breach with 500 million accounts stolen, as questions about disclosure to Verizon and users grow: Yahoo confirmed today that it had been subject of a massive hacking attack that exposed the data of at least 500 million users. Recode previously reported that Yahoo was about to reveal the breach and Yahoo had declined to comment when contacted last night. Now, the company is unveiling a situation much worse than expected, although the Recode report noted that it would be. Earlier this summer, Yahoo said it was investigating a data breach in which hackers claimed to have access to 200 million user accounts and one was selling them online. “It’s as bad as that,” said one source. “Worse, really.” The announcement has huge implications on Yahoo’s pending deal to be bought by Verizon for $4.8 billion. Sources at Verizon said they were largely unaware of the severity of the attack until recently and that CEO Marissa Mayer and others did not flag them as to the extent of the issue in the bidding process. You can read that ire clearly between the lines in a statement from Verizon-owned AOL, which is expected to be integrated with Yahoo when the deal is complete. "Within the last two days, we were notified of Yahoo's security incident. We understand that Yahoo is conducting an active investigation of this matter, but we otherwise have limited information and understanding of the impact. We will evaluate as the investigation continues through the lens of overall Verizon interests, including consumers, customers, shareholders and related communities. Until then, we are not in position to further comment." In addition, internal sources at Yahoo said the company had been subjected to a number of previous incidents that were not managed swiftly by CEO Marissa Mayer. One executive close to the situation said that former Yahoo information security head Alex Stamos had tried aggressively to get management to act more strongly at the time, but he had not been successful. The well-regarded techie left Yahoo in mid-2015 for a job as chief security officer at Facebook. This whole incident was first revealed in August when “Peace,” an infamous cybercriminal, advertised the sale of user credentials for some 200 million Yahoo users on the “dark web.” The data included user names, some passwords and personal information like birth dates and other email addresses. At the time, Yahoo said it was “aware of the claim,” but declined to say if it was legitimate. Instead, it opened an investigation, but did not issue a call for a password reset to users.

• Uber rival Grab partners with driverless car firm in Singapore: Users of ride-hailing firm Grab will be able to book driverless cars from Friday as it partners with a start-up testing the technology in Singapore, just days after rival Uber debuted its self-driving vehicles in the United States. The move comes as technology companies and automakers race to build autonomous vehicles and develop new business plans for what is expected to be a long-term makeover of personal transportation. Southeast Asia's Grab said its app will allow select commuters to book and ride start-up nuTonomy's driverless vehicles within a western Singapore district, where the vehicles are being tested, and adjacent neighborhoods. A safety driver and support engineer will ride in each nuTonomy car, the two companies said in a statement. nuTonomy, which started a limited public trial of the first driverless taxi in August in Singapore, has said it hopes to have 100 taxis working commercially in the city-state by 2018. Countries around the world are encouraging the development of autonomous technologies, and Singapore, with its limited land and workforce, is hoping driverless vehicles will encourage its residents to use more shared vehicles and public transport. Grab said its data showed drivers in Singapore are less likely to accept a passenger booking request originating from or destined for remote locations, highlighting the need for "robo-cars" that can meet transportation needs in far-flung areas. If a trip requires travel on roads outside of Singapore's one-north district, the safety driver will take control of the vehicle for that portion of the trip.

• LinkedIn is bringing Lynda.com courses to its news feed and building a messaging bot. LinkedIn is finally bringing Lynda.com — the online education company it bought 18 months ago for $1.5 billion — into its news feed. Beginning Thursday, LinkedIn will start recommending online courses for its members based on things like their jobs and their listed skills, and recommended courses shared by friends of colleagues. Users can take the course on LinkedIn, then add completed courses and new skills to their profiles after completion. CEO Jeff Weiner also teased out a number of upcoming products. Among them: A new LinkedIn messaging bot that will help LinkedIn users schedule and arrange meetings. The bot will pull info from users’ calendars to help find time for people to meet, then suggest physical meeting locations based on where the two people have met in the past. It’s the first such messaging bot from LinkedIn, which is not known for having an advanced messaging product. (It didn’t even announce a text-like messaging feature until a year ago.)

Daily Tech Snippet: Tuesday, September 6

• How Uber Drivers Decide How Long to Work: For nearly 20 years, economists have been debating how cabdrivers decide when to call it a day. This may seem like a trivial question, but it is one that cuts to the heart of whether humans are fundamentally rational — in this case, whether they earn their incomes efficiently — as the discipline has traditionally assumed. In one camp is a group of so-called behavioral economists who have found evidence that many taxi drivers work longer hours on days when business is slow and shorter hours when business is brisk — the opposite of what economic rationality, to say nothing of common sense, would seem to dictate. So who is right? That’s where Uber comes in. When one of the company’s researchers, using its supremely detailed data on drivers’ work time and rides, waded into the debate with a paper this year, the results were intriguing. Over all, there was little evidence that drivers were driving less when they could make more per hour than usual. But that was not true for a large portion of new drivers. Many of these drivers appeared to have an income goal in mind and stopped when they were near it, causing them to knock off sooner when their hourly wage was high and to work longer when their wage was low.Whatever the case, the result seems to have one very obvious implication: Anyone trying to make it in the gig economy should probably pick a favorite platform or two and stick with them rather than constantly jump around from one type of gig to another.

• Goodbye, Ivory Tower. Hello, Silicon Valley Candy Store. Silicon Valley is turning to the dismal science in its never-ending quest to squeeze more money out of old markets and build new ones. In turn, the economists say they are eager to explore the digital world for fresh insights into timeless economic questions of pricing, incentives and behavior. “It’s an absolute candy store for economists,” Mr. Coles said. The pay, of course, is a lot better than you would find in academia, where economists typically earn $125,000 to $150,000 a year. In tech companies, pay for a Ph.D. economist will usually come in at more than $200,000 a year, the companies say. With bonuses and stock grants, compensation can easily double in a few years. Senior economists who manage teams can make even more. Businesses have been hiring economists for years. Usually, they are asked to study macroeconomic trends — topics like recessions and currency exchange rates — and help their employers deal with them. But what the tech economists are doing is different: Instead of thinking about national or global trends, they are studying the data trails of consumer behavior to help digital companies make smart decisions that strengthen their online marketplaces in areas like advertising, movies, music, travel and lodging. Tech outfits including giants like Amazon, Facebook, Google and Microsoftand up-and-comers like Airbnb and Uber hope that sort of improved efficiency means more profit.

• Satellite owner says SpaceX owes $50 million or free flight: Israel's Space Communication Ltd said on Sunday it could seek $50 million or a free flight from Elon Musk's SpaceX after a Spacecom communications satellite was destroyed last week by an explosion at SpaceX's Florida launch site. Officials of the Israeli company said in a conference call with reporters Sunday that Spacecom also could collect $205 million from Israel Aerospace Industries, which built the AMOS-6 satellite. SpaceX said in an email to Reuters that it does not disclose contract or insurance terms. The company is not public, and it has not said what insurance it had for the rocket or to cover launch pad damages beyond what was required by the Federal Aviation Administration, which oversees commercial U.S. launches, for liability and damage to government property. SpaceX has more than 70 missions on its manifest, worth more than $10 billion, for commercial and government customers. The space launch company is one of three major transportation and energy enterprises Musk leads. The others are electric car maker Tesla Motors Inc and SolarCity Corp, and Musk faces separate challenges at each of those money losing companies. Spacecom has been hit hard in the aftermath of the Thursday explosion that destroyed the SpaceX Falcon 9 rocket and its payload. The Israeli company said the loss of the satellite would have a significant impact, with its equity expected to decline by $30 million to $123 million. Spacecom shares dropped 9 percent on Thursday, with the explosion occurring late in the last trading day of the week.

Daily Tech Snippet: Tuesday, August 30

• Alphabet’s Legal Chief Steps Down From Uber Board: David Drummond, the chief legal officer at Alphabet Inc., has stepped down from Uber Technologies Inc.’s board of directors as the two companies move further into each other’s territories. Drummond joined the board in 2013 when GV, the venture capital arm of Alphabet formerly known as Google Ventures, led a $258 million round of financing for Uber. It remains GV’s largest investment, and the two companies worked together on projects, including the ability to call a car through Google Maps. However, relations between Alphabet’s Google unit and Uber have become strained in recent years. Bloomberg reported last year that Google had been working on a ride-hailing service using self-driving cars. Uber acquired Otto, an autonomous driving startup staffed by former Google employees, and is working with Volvo on driverless vehicles of its own, which the companies expect to begin rolling out in Pittsburgh this month. Uber has been developing its own mapping operation and is shooting street photography to create an alternative to Google’s map data. 

• EU to hand Apple Irish tax bill of $1.1 billion, source says: The European Commission will rule against Ireland's tax dealings with Apple (AAPL.O) on Tuesday, two source familiar with the decision told Reuters, one of whom said Dublin would be told to recoup over 1 billion euros in back taxes. The European Commission accused Ireland in 2014 of dodging international tax rules by letting Apple shelter profits worth tens of billions of dollars from tax collectors in return for maintaining jobs. Apple and Ireland rejected the accusation; both have said they will appeal any adverse ruling. The source said the Commission will recommend a figure in back taxes that it expects to be collected, but it will be up to Irish authorities to calculate exactly what is owed. A bill in excess of 1 billion euros ($1.12 billion) would be far more than the 30 million euros each the European Commission previously ordered Dutch authorities to recover from U.S. coffee chain Starbucks (SBUX.O) and Luxembourg from Fiat Chrysler (FCHA.MI) for their tax deals. Apple employs 5,500 workers, or about a quarter of its European-based staff in the Irish city of Cork, where it is the largest private sector employer. It has said it paid Ireland's 12.5 percent rate on all the income that it generates in the country. Ireland's low corporate tax rate has been a cornerstone of economic policy for 20 years, drawing investors from major multinational companies whose staff account for almost one in 10 workers in Ireland. Some opposition Irish lawmakers have urged Dublin to collect whatever tax the Commission orders it to. But the main opposition party Fianna Fail, whose support the minority administration relies on to pass laws, said it would support an appeal based on the reassurances it had been given by the government to date.

• You earn a million dollars a year and can’t get funded? If you’re in the position of struggling to raise funds, here are some reasons why your pitch may not be resonating. You paid $1.2 million to make $1 million: The most common case of seemingly successful businesses struggling to raise funding is when they are paying $1.2 million to generate $1 million. Or, it’s not clear how you’ll turn $1 million into $10 million: We seriously don’t expect every company to be a billion-dollar business. Our model works with $50 million and $100 million exits, but if you’re going to raise venture capital, youshould also be able to explain how you’ll achieve step-function growth — convincingly. A hockey-stick growth path to a billion dollar valuation isn’t required; it can be as simple as taking revenue from $1 million to $10 million. So… If you’ve built a million-dollar business and are struggling to convince VCs, we’d love to talk to you! Just know that when you’re pitching investors, not all revenue is valued equally, and it’s just one factor among many that investors will use to evaluate your business. Bryce Roberts put it well when he tweeted “Not all good businesses are good investments. Not all good investments are good businesses.” Your favorite neighborhood restaurant might generate a million dollars a year in revenue, but it would be a bad bet for VCs. Facebook lost money for years before going on to dominate global communication. If youdecide you want to play the VC game, just be sure to learn how the score is tallied.

Daily Tech Snippet: Friday, August 26

• Four years and $22 billion later, WhatsApp has decided ads aren’t awful, after all: First rule about being bought by an advertising company: You’re probably going to end up selling advertising.  WhatsApp to share user data with Facebook for ad targeting. Facebook-owned messaging giant WhatsApp has announced a big change to its privacy policy which, once a user accepts its new T&Cs, will see it start to share some user data with its parent company — including for ad-targeting purposes on the latter service. “[B]y coordinating more with Facebook, we’ll be able to do things like track basic metrics about how often people use our services and better fight spam on WhatsApp,” WhatsApp writes in a blog on the change today. “Facebook can offer better friend suggestions and show you more relevant ads if you have an account with them. For example, you might see an ad from a company you already work with, rather than one from someone you’ve never heard of.” WhatsApp will also be sharing the data with the “Facebook family of companies” — so presumably its user data could also be fed to VR firm Oculus Rift, another Fb acquisition, and photo-sharing network Instagram. WhatsApp data that will be shared under the new T&Cs includes the phone number a user used to verify their account, and the last time they used the service. Two pieces of data which — on a creepiness scale of ‘personal intel you’d rather not hand over to a data-mining tech giant’ — are both right up there.

• Google Fiber is pulling back on its broadband rollout as pressure grows to cut costs: For the past year, Ruth Porat, the CFO of Google and its parent Alphabet, has told Wall Street that Google Fiber is her most expensive unit outside of the core business — and is well worth the costs. Her bosses may be telling Fiber employees the opposite. According to a report in The Information, Alphabet chiefs Larry Page and Sergey Brin recently instructed Fiber to severely trim staff and expenses, frustrated with mounting costs of delivering high-speed internet by digging up dirt. Creating broadband networks via traditional pipes is enormously expensive. And Fiber still hasn’t proven that it has figured out a better way to do it. The Information story comes on the heels of reports that Fiber has put plans to build broadband networks on hold in two cities as it ponders ways to roll out experimental wireless tech. Fiber, like the “Other Bets” businesses outside of Google, is facing ongoing scrutiny about its operations. Here are the key parts of The Information’s report. The unit initially shot for five million broadband subscribers in its first years, but has fallen short of that. Last month, Page told Craig Barratt, the CEO of Fiber (or Access, as it’s known), to halve his staff down to 500. Porat, who has developed a reputation as a cost cutter, interceded on Fiber’s behalf, arguing to Page that Fiber’s business model is defensible. Barratt considered leaving earlier in the year, reportedly irked by the changes at Alphabet. If he did, he would not be the first “Other Bets” exec to do so.

• Uber Loses at Least $1.2 Billion in First Half of 2016: The ride-hailing giant Uber Technologies Inc. is not a public company, but every three months, dozens of shareholders get on a conference call to hear the latest details on its business performance from its head of finance, Gautam Gupta. On Friday, Gupta told investors that Uber's losses mounted in the second quarter. Even in the U.S., where Uber had turned a profit during its first quarter, the company was once again losing money. In the first quarter of this year, Uber lost about $520 million before interest, taxes, depreciation and amortization, according to people familiar with the matter. In the second quarter the losses significantly exceeded $750 million, including a roughly $100 million shortfall in the U.S., those people said. That means Uber's losses in the first half of 2016 totaled at least $1.27 billion. Subsidies for Uber's drivers are responsible for the majority of the company's losses globally, Gupta told investors, according to people familiar with the matter. "You won't find too many technology companies that could lose this much money, this quickly," said Aswath Damodaran, a business professor at New York University who has written skeptically of Uber's astronomical valuation on his blog. "For a private business to raise as much capital as Uber has been able to is unprecedented." Bookings grew tremendously from the first quarter of this year to the second, from above $3.8 billion to more than $5 billion. Net revenue, under generally accepted accounting principles, grew about 18 percent, from about $960 million in the first quarter to about $1.1 billion in the second. Uber also told investors during the call that it was changing how it calculates UberPool's contribution to revenue in the second quarter, which had the effect of increasing revenue. Uber's losses and revenue have generally grown in lockstep as the company's global ambitions have expanded. Uber has lost money quarter after quarter. In 2015, Uber lost at least $2 billion before interest, taxes, depreciation and amortization. Uber, which is seven years old, has lost at least $4 billion in the history of the company.

• First driverless taxi hits the streets of Singapore: The first driverless taxi began work on Thursday in a limited public trial on the streets of Singapore. Developer nuTonomy invited a select group of people to download their app and ride for free in its "robo-taxi" in a western Singapore hi-tech business district, hoping to get feedback ahead of a planned full launch of the service in 2018.The trial rides took place in a Mitsubishi i-MiEv electric vehicle, with an engineer sitting behind the steering wheel to monitor the system and take control if necessary. The trial is on an on-going basis, nuTonomy said, and follows private testing that began in April. Parker, whose company has partnered with the Singapore government on the project, said he hoped to have 100 taxis working commercially in the Southeast Asian citystate by 2018.

Daily Tech Snippet: Monday, August 22

• Lyft Is Said to Seek a Buyer, Without Success: It is not an easy thing to be an independent ride-hailing company these days. For one, it takes billions of dollars and hundreds of employees to spread to new cities, to market the service and to recruit drivers. Legislators and local laws are often not in your favor. And competitors with deep pockets from all over the world are waiting to cheer if you happen to fail. Lyft, the second-biggest ride-hailing company in the United States behind Uber, is grappling with those forces — but has found that its options are limited. The company, which is based in San Francisco, has in recent months held talks or made approaches to sell itself to companies including General Motors, Apple, Google, Amazon, Uber and Didi Chuxing, according to a dozen people who spoke on the condition of anonymity because the discussions were private. Lyft’s discussions were most serious with G.M., which is one of the ride-hailing company’s largest investors. Still, G.M. never made a written offer to buy Lyft, said the people, and in the end, Lyft did not find a buyer. Lyft is not in danger of closing down and has a cash cushion of $1.4 billion, some of these people added, so the company will continue as an independent entity. Still, the talks underline how difficult it has become to operate in the ride-hailing market, where people can book rides from drivers through a smartphone app. While ride-hailing companies do not own fleets of cars and instead rely on drivers who have their own vehicles, the business is highly capital-intensive. Venture capitalists and other investors have poured billions of dollars into the companies.

• Uber Tells Investors It Wouldn’t Pay Above $2 Billion for Lyft: As Lyft Inc. was gauging interest from prospective acquirers, executives from Uber Technologies Inc. told investors in the past few weeks that the company wouldn't pay more than $2 billion to purchase its main U.S. ride-hailing competitor, said people familiar with the matter. Uber didn't make a formal offer, said the people, who asked not to be named because the discussions were private. Uber had previously considered purchasing Lyft as far back as 2014, and the two San Francisco companies have discussed the prospect informally, one of the people said. Despite executives floating the $2 billion price tag, Uber Chief Executive Officer Travis Kalanick has said privately that he would not support such a deal because he believes it would face intense regulatory scrutiny, the person said. Regardless, Lyft wouldn't consider $2 billion to be a credible offer, said another person familiar with the matter. Recode reported on Friday that Lyft sought as much as $9 billion but failed to secure serious interest. As fierce rivals, Uber has every incentive to downplay Lyft's value to investors and has done so in the past. Lyft and Uber declined to comment.

• Hampton Creek, Maker of Just Mayo, Is Said to Be Under Inquiry: Hampton Creek, a prominent start-up that is trying to bring tech industry panache to the world of mayonnaise, ranch dressing and other food products, has come under scrutiny by regulators for its business practices. The Securities and Exchange Commission has opened a preliminary inquiry into Hampton Creek, according to a person briefed on the situation who asked not to be named because it had not been announced publicly. The S.E.C. inquiry is a response to a recent report from Bloomberg News that described an organized effort by Hampton Creek to buy large quantities of its Just Mayo product — a mayonnaise that uses a plant-based ingredient instead of eggs — by sending undercover contractors into stores.Bloomberg’s report said the product buyback effort, which took place in 2014, made Just Mayo seem more popular than it was, not long before Hampton Creek raised $90 million from venture capitalists and other private investors. The basic details of the program were confirmed by a former Hampton Creek employee, who asked for anonymity because of confidentiality restrictions with his onetime employer. The inquiry may be only the start of tougher questions facing Hampton Creek. The company is believed to be losing significant amounts of money. It is raising up to $220 million from investors, according to a Delaware filing provided by Equidate, which tracks private company shares. It’s not uncommon, of course, for start-ups to bleed red ink in their early days. But Hampton Creek, founded in 2011, faces some basic challenges with the manufacturing costs for its products. According to one former employee, in 2014 the company had negative gross margins of about 20 percent on Just Mayo, meaning that the raw cost to the company for every $1 it got in sales was about $1.20. The issue arises from Hampton Creek’s use of premium ingredients in its products without charging shoppers the often eye-popping prices attached to such food products. The vegetable oil used in Just Mayo, for example, does not come from genetically modified organism sources, which adds significant cost, according to the former employee. But on Walmart.com on Friday, a 30-ounce jar of Just Mayo was selling for $3.66 — 32 cents less than a jar of Hellmann’s mayonnaise of the same size.

Daily Tech Snippet: Friday, August 19, 2016

• Uber Aims for an Edge in the Race for a Self-Driving Future: On Thursday, Uber said that it would begin testing self-driving cars in Pittsburgh in a matter of weeks, allowing people in the city to hail modified versions of Volvo sport utility vehicles to get around the city. Uber also said it had acquired Otto, a 90-person start-up including former Google and Carnegie Mellon engineers that is focused on developing self-driving truck technology to upend the shipping industry. Those moves are the most recent indications of Uber’s ambitions for autonomous vehicles that can provide services to both consumers and businesses. And they come after Ford Motor’s announcement this week that it would put fleets of self-driving taxis onto American roads in five years. As part of that effort, Ford said it had acquired an Israeli start-up, Saips, that specializes in computer vision, a crucial technology for self-driving cars. Ford also announced investments in three other companies involved in major technologies for driverless vehicles. Suddenly, it seems, both Silicon Valley and Detroit are doubling down on their bets for autonomous vehicles. And in what could emerge as a self-driving-car arms race, the players are investing in, or partnering with, or buying outright the specialty companies most focused on the requisite hardware, software and artificial intelligence capabilities.

• When Google quietly began working on cars that drive themselves, über was just a German word. Now, nine years later, Uber the ride-hailing company looks set to get regular people inside autonomous vehicles first — a move that’s critical for Uber, and dispiriting for the audacious project hatched inside of Google. Uber said on Thursday that, along with Volvo, it will test a fleet of on-demand autonomous cars in Pittsburgh later this month. An Uber driver will still be in the car. But, more importantly, so will a customer. That’s something that Google has yet to do. When the search giant first unfurled its self-driving plans, it was the only company tackling the advanced tech. Not anymore: All the major car companies have joined the fray — and shown a willingness to cut big checks for the tech behind it. Google is well ahead on the technical challenges of driverless vehicles, according to most in the industry. But those same people, in recent months, have begun asking why, nearly a decade after hiring top roboticists to build its project, Google has not delivered something to market. There are a number of reasons why Google has been a laggard to new rivals in the field. One is its devotion to going fully driverless, a far more difficult feat. That’s partially because, unlike the car companies and Uber, the Google self-driving cars don’t need an immediate revenue stream. They have search ads to bankroll them. Yet other forces may be holding back Google’s cars — like internal dynamics at the project, now within the X subsidiary under Google parent Alphabet. Alphabet has kept its revenue strategy for the unit under wraps. Some sources say that is because they have not settled on one yet. “They went back and forth all the time,” said one person who recently left X. Still, frustration with the inertia of Google’s self-driving car looks to be hitting its own ranks. Chris Urmson, the CTO and former director of the car unit, recently departed, along with two early engineers. Earlier this year, several members of the project, including co-founder Anthony Levandowski, decamped to form Otto, an autonomous trucking startup. With its announcement this morning, Uber also said it had acquired Otto.

• Applied Materials forecast beats on chip, display demand: Applied Materials Inc forecast current-quarter revenue and profit far above analysts' estimates as the company benefits from demand for newer technology to make displays and smartphone memory chips. Shares of the world's largest supplier of tools used to make semiconductors rose 5.7 percent to $29.25 in after-hours trading on Thursday. If the current gains hold, the stock is set to open at a 15-year high on Friday. The rising popularity of mobile devices has fueled demand and investments in 3D NAND memory chips, which can store data without using up power. Applied Materials is considered an bellwether and its results are seen as an indicator for the overall chip industry. The company has also gained from growing demand for displays using organic light-emitting diode (OLED) technology, where its products help manufacture displays used in televisions, phones and computer screens. Orders in the business surged 153 percent to $803 million in the latest quarter. Applied Materials' net sales rose 13.3 percent to $2.82 billion in the third quarter. The company's net income rose to $505 million, or 46 cents per share, from $329 million, or 27 cents per share, a year earlier.Up to Thursday's close, the company's stock had gained about 48 percent this year.

Daily Tech Snippet: Thursday, August 18

• Pinterest Follows Rivals Into Selling Video Ads: Pinterest is finally taking the plunge that many other tech companies already have: It has started selling video advertising. Video ads from brands like Kate Spade and bareMinerals will start appearing in the virtual scrapbook-like Pinterest feed on Wednesday and into the coming weeks, and Pinterest is hopeful that ads from other brands will soon follow. The new ads will show up in a silent, GIF-like format within Pinterest’s feed, and will play with sound once clicked. Users will be able to click images, or pins, of featured products next to the videos. That could, for instance, bring them to a brand’s website or allow them to buy the product without leaving Pinterest. The move puts the social-bookmarking site in competition with the likes of Facebook, Twitter and Snapchat, as well as large digital publishers, which are all vying for the increasingly large amounts of marketers’ digital ad dollars. Pinterest allows people to save links to images and videos, known as pins, to aesthetically pleasing virtual bulletin boards, and to follow the boards created by others. It has become a popular destination for consumers looking to buy goods, particularly in areas like home improvement and cooking, and for the brands looking to reach them. Pinterest says 75 percent of the content people consume on its site comes from businesses. Pinterest, which says it has more than 100 million visitors a month, has largely been absent from conversations about videos, even as such content has boomed in popularity on its site. The company said it had seen a 60 percent increase in the number of videos saved by users in the last year. Last year, Etsy was the website with the greatest number of links from Pinterest’s Save button. Now, it is YouTube. “Candidly, the company just in general has underinvested until now in video as a platform,” Jon Kaplan, the head of global sales at Pinterest, said in an interview. “We wanted to make sure it was customized and specific to the way people use our platform. What you’re going to see going forward is a very big investment in video.”

• An Expert in Valuation Says Uber Is Only Worth $28 Billion, Not $62.5 Billion: According to Aswath Damodaran, a professor who specializes in equity valuation at NYU's Stern School of Business, Uber is running up against the roadblock that has thwarted many upstart businesses: Profit. While Damodaran thinks Uber and riding sharing will continue to expand, albeit at a slower pace, he's concerned about whether revenues will follow. China especially worries him given Uber's recent sale of its operations in that country to Didi Chuxing, its biggest rival there. The decision to exit "even if it was the right one from the perspective of saving itself from a cash war, will reduce its potential revenues in the future."  In the other places where Uber does continue to operate, there are often large discounts for riders and other special promotions. This is proof that the business model is challenged, according to Damodaran. "I believe that a significant portion of their expenses are associating with maintaining revenues rather than growing them," he says. "In effect, it looks like the business model that has brought these companies as far as they have in such a short time period are flawed, because what allowed these companies to grow incredibly fast is getting in the way of converting revenues to profits, since there are no moats to defend." Damodaran says that young companies all face a point in time that he calls the "Bar Mitzvah Moment," when the focus shifts from growth to evidence that the business model can be profitable. In his mind, that moment is right now for ride sharing. "After an initial life, where investors have been easily sated with reports of more ride sharing usage (number of cities served, rides, drivers etc.), these investors are starting to ask the tough questions about how ride sharing companies propose turning these impressive usage statistics into profits."

• Lenovo's first-quarter profit jumps 64 percent, beating estimates: China's Lenovo Group Ltd, the world's biggest personal computer (PC) maker, said on Thursday its first-quarter net profit rose 64 percent, beating estimates as solid PC sales offset tepid smartphone demand. Beijing-based Lenovo said in a filing that net profit grew to $173 million for the quarter ended June from $105 million in the same period a year earlier. That was more than the $130.1 million average of analysts polled by Thomson Reuters SmartEstimates. First-quarter revenue dropped 6 percent to $10.05 billion from a year earlier, compared with an average of $9.63 billion estimated by analysts. Lenovo consolidated its hold on the slowing PC market during the quarter. PC shipments fell 2 percent year-on-year, compared with a 4 percent decline in the broader industry. Like peer Xiaomi Inc, Lenovo has been focusing on diversifying away from intense competition in low-margin devices in China - still the world's largest handset market but affected by the slowing Chinese economy.According to researcher TrendForce, Lenovo had a 4.5 percent share of the global smartphone market in April-June, leaving it a distant seventh after top player Samsung Electronics Co Ltd's 24 percent and Apple Inc's 15 percent.

Daily Tech Snippet: Tuesday, August 2nd

• Uber to Sell to Rival Didi Chuxing and Create New Business in China: In a stark signal of how difficult it is for American technology companies to thrive in China, Uber China said it was selling itself to Didi Chuxing, its fiercest rival there. The sale, which would create a new company worth about $35 billion, would end the great ride-hailing battle of China. A person with knowledge of the deal said Uber investors had been pushing for such a transaction. The companies have been fighting relentlessly for market share in mainland China for two years, spending tens of millions of dollars every month to attract riders and drivers. The merger would end that competition and create significant scale, but it would also be a repudiation of Uber’s ambitions to take on local Chinese competitors in their huge home market.Still, it is by no means a financial catastrophe for Uber, which for about $2 billion of investment in the Chinese market gets a $7 billion share in a company that is likely to grow. It also saves the cash it may have spent competing in China for other projects.Under the terms of the deal, the new company’s estimated worth is a combination of Didi Chuxing’s $28 billion valuation and Uber China’s $7 billion, according to two people with knowledge of the deal, who spoke on the condition of anonymity because the information had not yet been made public. Uber shareholders would receive a 20 percent stake in the new company. Didi Chuxing would also make a $1 billion investment in the company’s operations in the rest of the world, called Uber Global, which was lastvalued at $62.5 billion, according to the two people with knowledge of the sale. Bloomberg first reported news of the deal.

• Didi Schools Uber on Doing Business in Cut-Throat Chinese Market: The deal is the culmination of more than a year of take-no-prisoners war between the world’s two largest ride-sharing companies, a series of clashes played out in the media and on the dusty streets of hundreds of cities. That battle, waged through massive subsidies on rides, wound up costing Uber $2 billion, the people said. Alarmed, its investors clamored for a ceasefire.In the end, Didi proved too resourceful -- and too well-connected -- for the ride-sharing giant to dethrone. Uber threw in the towel just days after China banned the practice of charging less than the cost of a ride, depriving the U.S. company of a tried-and-true engagement tactic. In a blogpost obtained by Bloomberg before an official announcement, Kalanick portrayed the deal as a merger that strengthens both parties; others, including Grab CEO Anthony Tan, saw it as a humbled Uber taking its ball elsewhere.But Didi proved more creative, and local connections came through. The conflict took an unusual turn as third parties began to get drawn into the mix. In August, Uber complained it had been blocked from WeChat, the popular messaging service run by Didi-backer Tencent. Then Didi recruited allies, forging a four-way alliance with ride-sharing services that compete with Uber, including Lyft Inc. in the U.S., Grab and India’s Ola. Didi gained confidence as it entered the new year. From President Jean Liu on down, its executives were determined to deal a knockout blow. Didi began raising more money and its emboldened executives openly declared victory. “We will be the last one standing,” Stephen Zhu, vice president of strategy, said in what proved to be a prescient April address.Recent funding saw Uber’s valuation swell to $68 billion and the company said it had access to more than $11 billion on its balance sheet. Didi, said to be valued at close to $28 billion, had more than $10 billion at its disposal. In the end, Didi proved too large an opponent, with backers including some of China’s largest government institutions and even Apple Inc. The four-year-old company now handles more than 11 million rides a day and serves about 300 million users across some 400 cities, offering taxis, private cars, ride sharing and test driving.

• Didi’s acquisition of Uber China throws the global anti-Uber alliance in doubt: Didi Chuxing, China’s homegrown ride-hailing startup, was the glue that held together the global anti-Uber alliance that included Lyft, Grab and Ola. But now that Didi has acquired Uber’s China operations, that partnership has been thrown into doubt. In addition to a $1 billion investment Didi is making into Uber, the deal also brings Uber CEO Travis Kalanick onto Didi Chuxing’s board and Didi Chairman Cheng Wei onto Uber’s board. Both Kalanick and Wei are non-voting members of the board. That means, as of last night, Didi Chuxing is more invested in Uber’s success than it is in the alliance. Didi, so far, had invested about $100 million in Lyft, $350 million in Grab and $30 million in Ola, altogether about $480 million, less than half of what it just invested in Uber.

• More news on this: Uber’s surrender in China puts more pressure on big tech companies to thrive in India

• Delphi, Singapore launch test of self-driving taxis: Delphi Automotive Plc will launch a small test fleet of automated taxis in Singapore next year, aiming to ferry passengers around a city district in one of the first real-world tests of automated rides on demand, the company said on Monday. The project, run in partnership with the Singapore Land Transport Authority, will road test a concept that many companies investing in automated driving believe offers the fastest path to making such technology commercially viable. A cab ride in a dense urban area can cost $3 to 4 a mile, Delphi vice president of engineering Glen DeVos said in an interview. “We think we can get to 90 cents a mile” with an automated vehicle. That drops the price of transporting goods and people, and allows for the costs of automated driving systems to be spread over hours of operation and multiple users. Initially, the cars will have drivers ready to take over if the piloting systems fail, DeVos said. But by 2019 or 2020, “we’ll have removed drivers from the car,” Glen DeVos, Delphi’s vice president of engineering said in an interview.

• Microsoft Sells $19.75 Billion of Bonds in Its Biggest Ever Sale: Microsoft Corp. raised $19.75 billion in the third-largest U.S. corporate bond sale of the year to help finance its planned purchase of LinkedIn Corp. Investors put in more than $50 billion of orders for the deal in the software maker’s biggest ever sale. The strong demand helped Microsoft to borrow at lower rates than it paid for the $13 billion of bonds it raised in October. It also saved about $40 million in annual interest payments compared with what it was offering to pay initially, according to people familiar with the matter. Investors have been clamoring for U.S. corporate debt in recent months. Yields are turning negative on a growing number of bonds globally as central banks in Japan and Europe ramp up stimulus packages, spurring money managers to seek higher returns in the U.S.S&P Global Ratings assigned the bonds the top AAA grade in a note reviewing the sale on Monday. Moody’s Investors Service also gave the bonds its top grade. The longest portion of the debt is a 40-year bond that yields 1.8 percentage points above Treasuries. On Thursday, Apple Inc. sold $7 billion of bonds. Investors opened their wallets for the iPhone maker, allowing the company to lower yields on all portions of the offering, which was funding shareholder buybacks. Like Apple, Microsoft’s debt issuance is tied to avoiding an increase in its tax bill. Companies with cash holdings from overseas profits have to pay a 35 percent tax to repatriate those funds to the U.S. Rather than use that cash to fund its acquisition and pay the hefty taxes that result, it is far cheaper for large multinationals like Microsoft to borrow the funds.

Daily Tech Snippet: July 21, 2016

• Dollar Shave Club hit the jackpot when Unilever agreed to buy the online men's razor merchant for $1 billion. Other e-commerce startups such as Birchbox and Stitch Fix can't necessarily expect their own suitor to sweep in with such sweet deals. That's because the key to Dollar Shave Club's appeal is not so much its online prowess but the fact that it built a powerful brand in four years.  Dollar Shave Club upended the industry's traditional business model by offering a subscription service that sells blades for as little as $3 a month (including shipping and handling). The day Dollar Shave Club started selling subscriptions in March 2012, the company released a YouTube video starring founder Michael Dubin. He tells viewers the product is f***ing great, "so gentle a toddler could use it." The website crashed, but the blades sold out in six hours. The video has been viewed about 23 million times. The company reached $150 million-plus in sales in 2015, Unilever said in a press release announcing the deal. That despite the fact that the blades lack many of Gillette's high-tech enhancements. Few other e-commerce startups can claim to have built a brand so quickly. Unilever and P&G are masters at traditional marketing, mostly offline, but they struggle with the direct-to-consumer brand-building at which upstarts like Dollar Shave Club excel.

• Intel's slowing data center growth overshadows strong profit: Intel on Wednesday reported slower revenue growth at its data center business, which makes semiconductors used in high-end servers, overshadowing a better-than-expected quarterly profit. Shares of the world's largest chipmaker fell 3 percent in after-hours trading. Hurt by weak demand from enterprises, revenue at the highly-profitable unit rose 5 percent to $4 billion, but lagged the previous quarter's 9 percent increase and remained below Intel's annual target of low double-digit growth.Net revenue rose 2.6 percent to $13.53 billion, narrowly missing the average analyst estimate of $13.54 billion.Intel reported a better-than-expected profit as its cost-cutting begin to pay off. In April it announced plans to slash 12,000 jobs, or 11 percent of its global workforce, of which it said about half was already complete. Intel's forecast for $14.9 billion in current-quarter revenue topped the average analyst expectation of $14.63 billion. Net income fell to $1.33 billion, or 27 cents per share, in the second quarter, from $2.71 billion, or 55 cents per share, a year earlier

• Uber Investors Said to Push for Didi Truce in Costly China Fight: Uber Technologies Inc. investors have a message for management: It’s time to wrap up the costly fight in China. Several institutional investors are pushing the ride-hailing company to ink a partnership agreement with China’s market leader Didi Chuxing, according to people familiar with the matter, stemming the billions of dollars Uber is spending to expand in the region.Uber and Didi are bleeding cash in China as they fight for dominance in the world’s most populous country. Uber has said that it is spending at least $1 billion a year to expand its business in the country. Both are giving out incentives for drivers and free rides to compete for market share.Benchmark’s Bill Gurley -- an Uber investor and board member -- spoke briefly with Didi President Jean Liu at the Code Conference in Rancho Palos Verdes, California, a few months ago, according to a person familiar with the matter. Didi is in the lead on its home turf, with 14 million drivers signed up in 400 Chinese cities. Uber has set a target of operating in 100 cities this year. Uber set up a separate corporate entity to insulate its Chinese business, which has gathered local Chinese investors. Still, the parent company has also invested its own money, keeping the units financially intertwined. Among private technology companies, the rivals are giants. Uber, which was last valued at nearly $68 billion, says it has access to more than $11 billion in cash and equity. Didi, which was last valued at $28 billion, says it has more than $10 billion at its disposal in cash and equity.

• Strong demand from China buoys Qualcomm forecast: Qualcomm Inc forecast current-quarter profit largely above market estimates as it sees strong demand for its mobile chips in China and expects to sign more licensing deals. Shares of the company, which also posted a better-than-expected third-quarter profit, rose about 7 percent in extended trading on Wednesday.The company, whose chips are used in Apple Inc and Samsung Electronics Co Ltd smartphones, is focusing on its flagship mobile processors to regain the market share. Qualcomm expects to launch Snapdragon 821, an advanced and a faster version of Snapdragon 820, which powers Samsung Galaxy S7 and S7 edge smartphones."I think it is pretty straightforward...Samsung is back as their customer and...more people in China are ready to pay to license their technology...so it looks like the company is well positioned for the coming quarters," said Patrick Moorhead, an analyst with Moor Insights & Strategy.Revenue rose to $6.04 billion quarter ended June 26 from $5.83 billion a year earlier. Net Income attributable to Qualcomm rose to $1.44 billion, or 97 cents per share, from $1.18 billion, or 73 cents per share.

• EBay beats revenue estimate, bumps up forecasts: Online retailer eBay Inc reported better-than-expected quarterly revenue and raised its sales forecast for the year as efforts to revamp its online marketplace start to pay off. EBay shares were up 8 percent after the bell on Wednesday after the company's board also authorized an additional $2.5 billion stock buyback program. The company, which spun off PayPal last July, has tackled slowing growth by focusing on small business sellers, while offering a bigger selection of products. Gross merchandise volume, or the total value of all goods sold on its sites, was up 4 percent at $20.9 billion in the second quarter ended June 30, helped by strength in its U.S. business. The number of active buyers rose 4 percent to 164 million. The company's revenue also got a boost from robust sales at Stubhub, which won a 6.5 year revenue-sharing deal to resell tickets for the New York Yankees last month.The company's net income rose to $435 million, or 38 cents per share, in the latest quarter from $83 million, or 7 cents per share, a year earlier. Revenue rose 5.7 percent to $2.23 billion, ahead of analysts' average estimate of $2.17 billion. Up to Wednesday's close, shares of the San Jose, California-based company had fallen 5.6 percent in the past 12 months.

Daily Tech Snippet: Friday, July 8

• Uber Is Said to Close $1.15 Billion High-Yield Leveraged Loan: Uber Technologies Inc. closed a $1.15 billion high-yield leveraged loan, a person familiar with the matter said, bringing the total equity and debt raised by the ride-hailing mobile app to more than $15 billion. Bloomberg reported last month that Uber was seeking to raise $1 billion to $2 billion in debt. Morgan Stanley, Barclays Plc, Goldman Sachs Group Inc. and Citigroup Inc. facilitated the deal. Creditors will receive about a 5 percent yield on the loan, said the person, who asked not to be identified because the terms aren’t public.

• Amazon’s Audible Goes Long on Short-Form Audio: Amazon hopes to persuade people to pay for something they have traditionally enjoyed free: short-form audio. Audible, Amazon’s audiobook and spoken-word subsidiary, on Thursday announced Channels, a subscription service that will offer a new library of audio, including original programs, articles read aloud and more. At $4.95 a month, it presents a lower-priced entry point to the service and significantly expands on Audible’s core audiobook offering, while giving listeners more incentive to stick with the company. Channels will be free under Audible’s traditional $14.95 monthly membership, which provides access to hundreds of thousands of programs and audiobooks.Roughly two out of five Audible customers listen to podcasts, he said. But those customers are not always satisfied with what they find. “When you talk to those customers and you ask them about podcasting, they describe something that equally enthralls them and frustrates them,” he said. In that frustration, Audible sees an opportunity. Similar programs, in the form of podcasts — a label Audible resists as too narrow — have traditionally been free, supported by advertising, sponsorships, user donations or support from media and radio organizations. That a subsidiary of a company as aggressive as Amazon would invest in such a service suggests that it anticipates a willingness among the public to pay for short-form audio.

Daily Tech Snippet: Friday, June 24

• Twilio, a Cloud-Based Business, Soars After Its IPO: Shares of Twilio, a maker of software that helps companies like Uber and Nordstrom communicate with their customers, soared 92 percent on Thursday, their first day of trading after becoming the largest technology initial public offering of stock so far this year. Twilio began trading in a market that has not been receptive to tech initial offerings. Only three technology companies have made their debuts so far in 2016.The company said on Wednesday that it had raised $150 million, pricing 10 million shares at $15 each, above the range it marketed to investors. The I.P.O. price yielded a market valuation of $1.2 billion, slightly higher than the $1.1 billion valuation Twilio received in a private funding round a year ago. Twilio, based in San Francisco, has been hailed as a trailblazer compared with the almost 170 unicorns — companies with valuations above $1 billion — that have chosen to stay private for now. Twilio was a test of investor receptivity to the software company’s finances, which show 88 percent revenue growth over last year but consistent net losses. As markets became more uncertain, investors preferred that companies going public turn a profit. Twilio had $167 million in revenue last year from about 25,000 active customer accounts. WhatsApp, the messaging service owned by Facebook, represented 17 percent of that revenue.

• InMobi, fined $1m for tracking users, had fine reduced based on 'company's financial condition': Mobile advertising network InMobi has been fined $950,000 by the US Federal Trade Commission (FTC) for tracking the locations of millions of consumers, including children, without their knowledge or consent. InMobi was subject to a $4-million civil penalty, but it was reduced to $950,000 based on the company's financial condition. In addition, the company will be required to delete all information it collected from children, and will be prohibited from further violations of the Children's Online Privacy Protection Act (COPPA).

• BlackBerry Rises on Profit Forecast After More Software Gains: BlackBerry Ltd. rose as much as 4.6 percent after forecasting better-than-expected profit and insisting there was a way to make its ever-shrinking phone business profitable again. Fiscal first-quarter earnings per share, excluding some items, broke even, compared with analysts’ average estimate of a loss of 7 cents. Revenue in the quarter was $424 million, including software and services revenue of $166 million that was 21 percent higher than the same period last year ($137 million). Analysts had estimated total revenue of $471 million. BlackBerry changed its reporting structure to include revenue from both smartphone sales and licensing deals. The new unit -- “mobility solutions” -- accounted for 36 percent of revenue. The company sold 500,000 devices in the quarter, compared with 600,000 in the previous quarter. Shares gained 2.4 percent to $6.90 at 9:57 a.m., after reaching as high as $7.05 in New York in Thursday.

• Uber switches out surge for price transparency: No more pop-ups asking you to agree to those murky “2.1x” (or some other “x” amount) surge fares on the Uber app. Soon Uber will just tell you the price of your ride up front. Uber pricing will still fluctuate with demand, but now you’ll know the dollar amount you’ll be paying for the ride, instead; “no math and no surprises,” says Uber. The new costs are calculated similarly to the old “x” surge pricing so you might still end up paying a ridiculous sum in certain places or times of day where demand for a ride home is going to be high. The price is based on expected time, distance, traffic, the number of riders requesting rides at that time and the number of drivers available nearby, but at least now you’ll know exactly how much of a punch the ride will make to your bank account. Uber will also allow either the driver or rider to update the app if you change your destination in the middle of the ride and says you’ll get a notification in the app with the change in price. The rideshare company also told me you won’t have to worry if your Uber driver goes way off the map and tries to charge you more or if the route is suddenly busy and they need to change course. The price you agreed on will still be the price you pay. So no more lightning bolts and pop-up screens asking you to agree to “3x” surge or whatever it is after you stumble out of the bar or head all the way across town. Just like with hotels and airfare, the prices change all the time, but you’ll know what the price is before you book. According to Uber, “hundreds of thousands of riders” have already received the pricing transparency rollout — including those in Miami, San Diego, Seattle, New Jersey, New York and some of the bigger cities in India like Mumbai and Hyderabad. Uber plans to roll out the changes to pricing in the app globally in the next few months.

Daily Tech Snippet: Friday, 17 July

• Uber Rival’s $28 Billion Valuation Shows Size of China’s Ride-Sharing Market: The Chinese car-hailing app Didi Chuxing said on Thursday that it had brought in $7.3 billion in its latest round of fund-raising, which included Apple, Alibaba, and SoftBank as investors. The new funds give the company a total of $10.5 billion in disposable funds, and put its valuation at $28 billion, according to a person familiar with the fund-raising. That Didi’s valuation is now almost half that of the $62.5 billion valuation of its main rival in China, Uber, shows how much potential investors see in China. Yet the size of the cash infusions also underscores the market’s difficulties. In part because of China’s widespread blocking of foreign websites, the competition between Uber and Didi marks the first time in recent history a major foreign tech company has vied so intensely with a local Chinese business. In other markets the contest over ride-sharing has focused on regulation and technology, but in China it has been much more about cash, with the two companies spending billions. The most recent round has also pulled in Apple, pitting America’s biggest tech company against America’s best-known start-up, Uber, in a tricky Chinese market. Both see China as critical to growth. The fund-raising comes as executives from Didi and Uber have signaled that they are focusing on profitability in China. Since then both companies have been locked in a spending war. Though it has primarily taken the form of subsidies, both companies have also tried to develop technology specific to China, and have actively wooed both local and national government officials. Didi has focused on technology that better predicts car arrival times, given China’s unruly traffic, while Uber has developed a commute function that links drivers with riders based on where they live and work.

• Why back-up cameras haven’t stopped drivers from backing into stuff: With or without eyes in the back of their heads, drivers keep hitting things. Despite the growing prevalence of back-up cameras, federal data shows that this technology hasn't significantly cut down on cars backing into people and causing them harm. That research on so-called "back-over incidents" comes as the National Highway Traffic Safety Administration moves to make back-up cameras standard and presses automakers to add a bevy of new technologies -- from automatic braking to lane collision warnings -- to even entry-level cars to reduce accidents on the road.As car companies and even regulators increasingly lean on technology to make roads safer, the tepid success of the back-up camera is a red flag. Sure, drivers can see more of what's behind them -- the cameras reduce blind zones while in reverse by 90 percent, according to a study by the Insurance Institute for Highway Safety -- but they keep hitting things.Even with back-up cameras, drivers still don’t look around their vehicles enough when in reverse and sometimes get distracted by any number of things as their cars roll backward. Back-up cameras also often beam images to display screens in the front of the car, and drivers can become too reliant on them. Instead of looking backward and through their rearview window or checking mirrors, their eyes are glued to a screen.

• LG Electronics sells mosquito-repelling TV in India: The Indian arm of South Korea's LG Electronics Inc has begun selling a TV with a feature that it says repels mosquitoes, which can spread diseases such as malaria, Zika and dengue. The TV's "Mosquito Away Technology" uses ultrasonic waves that are inaudible to humans but cause mosquitoes to fly away, according to the company. It was released in the country on Thursday, LG said. The same technology, which was certified as effective by an independent laboratory near Chennai, India, has been used by LG in air conditioners and washing machines, the company said. The technology, which also functions when the TV is switched off, is available in two models, priced at 26,500 rupees and 47,500 rupees ($394 and $706). The TV is targeted at lower-income consumers living in conditions that would make them vulnerable to mosquitoes. It will go on sale next month in the Philippines and Sri Lanka. Kim Sang-yeol, an LG Electronics official, said there are no plans for now to market it elsewhere.

• Oracle's cloud strength boosts quarterly revenue: Business software maker Oracle Corp reported a higher-than-expected quarterly revenue as sales in its cloud business surged due to more customers. Shares of the Redwood City, California-based company rose as much as 3.8 percent to $40.10 in extended trading on Thursday. Like its rivals such as SAP SE, IBM Corp and Microsoft Corp, Oracle has focused on moving its business toward the cloud-computing model, essentially providing services remotely via data centers rather than selling installed software. Total revenue from the company's cloud-computing software and platform service rose 49.1 percent to $859 million in the fourth quarter ended May 31. It contributed 8 percent of Oracle's total revenue during thequarter. The company's total revenue fell 1 percent to $10.59 billion, beating analysts' average estimate of $10.47 billion. Oracle's net income rose to $2.81 billion, or 66 cents per share, in the quarter ended May 31, from $2.76 billion, or 62 cents per share, a year earlier. Excluding items, it earned 81 cents per share, meeting average analysts' estimate. Up to Thursday's close, Oracle's stock had risen 5.8 percent this year.

• Salesforce also made a bid for LinkedIn, CEO Benioff confirms: Salesforce was also a serious bidder for LinkedIn, the business networking site that sold to Microsoft for $26 billion this week, said CEO Marc Benioff. While he would not give details of the effort, sources said Salesforce was primarily interested in LinkedIn's recruiting business, which makes up the bulk of its revenue. Sources said LinkedIn was already deep into negotiations with Microsoft when Salesforce made its approach, which would have required both debt and stock financing. Microsoft was able to buy LinkedIn in cash and also promised to let it operate independently. Interestingly, sources confirmed numerous reports that Microsoft had tried to buy Salesforce earlier this year, and both price and the way it would be operated within the company were among the issues that resulted in it not happening. Indeed. Salesforce recently bought Demandware for $2.8 billion.

• InMobi Technologies to discontinue use of mascot function on Miip platform:  InMobi on Thursday said it has shuttered the animated-discovery commerce part of Miip for now, a product it launched amid much fanfare in July last year. Instead, the firm will look to help e-commerce companies reach inactive customers using more traditional ad formats, using the underlying technology it built for the platform. In July, InMobi launched a beta version of Miip, which took the form of an animated monkey, that tracked users’ browsing habits across various mobile apps and showed ads in the forms of bubbles and animations instead of traditional display ads. It allowed consumers to interact with the mascot and tell it what they liked, and how they felt about the products and ads they saw. The promise of such a technology was that first, it enabled personalised discovery of products, and second, the completion of purchases within the ad itself as InMobi had tied up with payments providers like Stripe, AliPay and Paytm. This hasn’t worked out. “The larger vision behind Miip is to enable consumers to buy products and complete transactions through ads. The mascot was conceptualized simply as a ‘face’ to the Miip platform. Over the course of testing, users responded better to an advertiser’s brand as against the Miip branding on an ad unit,” said Arun Pattabhiraman, vice president and global head of marketing, InMobi

Daily Tech Snippet: Thursday, June 16

• Good VR is great — and bad VR is abysmal: VR is a powerful medium, but difficult to work with — because the developer is put in the position of creating a sense of self and presence, more is required of them, and while successes are almost impossible to describe properly, failures are conspicuous and easily dissected. It’s easiest to illustrate with actual examples. Easily the most interesting VR experience I’ve had at E3 (of a dozen or so) was an Oculus demo called “The Climb,” by a team at Crytek. Using the Touch controllers (a new innovation; previously a gamepad was used), you manipulate a pair of disembodied hands, gripping ridges and cracks to make your way up a cliff face. Like many VR games, it sounds rather… boring. In fact, it’s genius, but only within VR — and like so many other games, the only way to find that out is to play it. Nevertheless, It’s excellent for several reasons, and these act as sort of guidelines for content that fits VR’s strengths and avoid its weaknesses. Alas, I was disappointed by “Final Fantasy XV: The VR Experience,” despite being hyped for the game itself. Here, I found, was the worst possible outcome: a game that should and could be interesting, but does almost nothing right. Unlike “The Climb,” it sounds like a blast on paper. You and the other main characters from the game are in a battle with a Behemoth, one of the game’s most well-known monsters. You’re Prompto, the one who has a gun, supporting your buddies as they fight hand to hand. What it amounts to, however, and I’m heartily sorry to say it, is a disjointed and boring five minutes that may leave you less excited for the game than when you donned the headset.

• What are leveraged loans and why does Uber want one? Uber, fresh off $3.5 billion from the Saudi Arabia Public Investment Fund, is in talks to closeanother $1-2 billion in the form of leveraged loans. Over the last 24 hours, the term “leveraged loans” has been thrown around a lot, but few in the startup world have seen this term before.The Wall Street Journal reported that the company would like to settle on a 4-4.5 percent interest rate. This appears ambitious but let’s assume that it is accurate. While not completely applicable, Apple issued $12 billion in bonds at a 3.22 percent blended interest rate excluding floating rate debt. Yes, 4.5 percent is greater than 3.22 percent but junk bond references by the Wall Street Journal and Recode should be taken lightly. Junk bonds can generate upwards of 7 percent interest. Plenty of well-known publicly traded companies have issued bonds at rates higher than 4.5 percent and survived to fight another day. Yes, both leveraged loans and junk bonds have higher-than-normal interest rates. Unlike junk bonds, a 4-4.5 percent interest rate for Uber shouldn’t invoke images of the subprime mortgage crisis.

• SpaceX’s latest rocket landing ended in a ‘rapid unscheduled disassembly’: Elon Musk's SpaceX failed to complete what would have been its fifth landing of a reusable booster rocket Wednesday, a down note on what appeared to be an otherwise successful mission to deliver two Boeing-built communication satellites to high orbit above the Earth. "Falcon 9 was lost in this attempt," the company said in its webcast. As the satellites headed on their way Wednesday, the booster rocket began its descent toward the ocean for a landing on a special floating platform. Video footage of the attempt seemed to show the booster touching down, then flames, before the picture froze.As with previous attempts, SpaceX had said landing the reusable booster rocket would be made more difficult by the fact that it would be falling from higher up. And, the company said, the rocket would have less fuel than normal to control its descent. SpaceX founder Elon Musk later tweeted that it appeared the the thrust in one of three landing engines was insufficient, causing the rocket to come in far too fast. In what he said may have been SpaceX's "hardest impact" ever, the booster ultimately suffered an RUD, or "rapid unscheduled disassembly." Upgrades to compensate for the problem could come by year's end, said Musk.

Daily Tech Snippet: Wednesday, June 15

• Uber Sets Sights on Leveraged Loans for Even More Money: Uber has raised more than $14 billion using all sorts of creative funding sources. Now it may add something new to the list: the leveraged loan market. The ride-hailing start-up is looking to issue as much as $2 billion in securities to investors, said a person briefed on the discussions, who spoke on the condition of anonymity. Morgan Stanley, Barclays, Goldman Sachs and Citigroup are managing the process, said the person, adding that the deal has not begun yet and may still fall apart.By tapping leveraged loans, Uber is adding to its trove of billions made up of many types of securities, which the company has been spending as it expands worldwide. Uber has raised equity from traditional venture capital sources, strategic corporate investors and private equity. This month, the company said that it had raised $3.5 billion from Saudi Arabia’s Public Investment Fund. Uber has also raised billions in convertible debt, which can be exchanged for equity at a future date. Uber has redefined private fund-raising, drawing hundreds of millions in new cash or debt at a rapid pace of once every few months. The company needs financing as it now operates in at least 69 countries and is fighting an expensive battle in China against a rival, Didi Chuxing, which is also raising money to expand. Leveraged loans are rarely used among start-ups. A leveraged loan is a security issued to a company that has a lot of debt on its books already, and thus is perceived by investors as being a higher risk. The loans are typically used for leveraged buyouts and are seldom seen in Silicon Valley. Uber has been able to tap less traditional funding sources because investors think its size and scale make it a safer bet than other Silicon Valley companies. Uber’s valuation of $62.5 billion — making it the highest valued venture-backed start-up in the world — would not change with this new investment. Leveraged loans also allow Uber to raise money without diluting the holdings of its many equity investors — some of which have been through more than a dozen rounds of financing.

• Twitter has invested in music streaming service SoundCloud: Two years ago Twitter thought about buying SoundCloud, but ended up walking away from the music service. Now Twitter has bought a piece of SoundCloud instead. Twitter has invested around $70 million in the music service, as part of a round that should end up in the $100 million-range, according to sources familiar with the deal. The round is expected to value SoundCloud at about $700 million — the same value that investors placed on the company in 2014, when it raised $60 million; since then it has also raised a debt round. It’s unclear whether the Twitter investment is part of a strategic partnership, but that would make sense: Twitter might view via an integration with SoundCloud as a way to increase growth and engagement, and SoundCloud may look at Twitter as a way to promote its newly launched subscription service, which is crucial to the company’s plans. And both companies could use some help. Twitter has been punished by Wall Street for its inability to add users at a rapid clip; SoundCloud’s flat valuation indicates that investors are also worried about its own growth prospects.

• Alibaba Tries to Shore Up Investors’ Confidence: The Alibaba Group of China has disappointed investors since its record-breaking American stock listing nearly two years ago, as volatile financial results and regulatory run-ins have driven the price of its shares down almost to where they began. Now the e-commerce giant is trying to reassure. For the first time, Alibaba on Tuesday offered investors financial guidance for the coming year, saying that it expected revenue growth to accelerate from last year’s pace. At a meeting at its Hangzhou headquarters, Alibaba cited strength in its core business, despite China’s slowing economic growth, as well as benefits from new ventures that have raised eyebrows among some investors The forecast comes as Alibaba seeks to demonstrate that its strategy, which has long focused on growth, is good for business. In China, Alibaba operates online sales platforms that connect consumers with mom-and-pop stores, as well as with global brands like Burberry and Zara. It has been showing sales growth on its platforms using a measure called gross merchandise volume, a yardstick for transactions across its platforms. Alibaba said on Tuesday that it would de-emphasize that figure, saying it would no longer report it quarterly. It will continue to report an annual figure, and offered a target for 2020.

• India's Space Program Takes On Elon Musk: India’s space agency will launch a record 22 satellites on a single rocket as it tries to ease a global backlog and demonstrate the ability to compete with commercial spaceflight companies run by billionaires Elon Musk and Jeff Bezos.Satellites from the U.S., India, Canada and Germany will enter orbit after a scheduled June 20 liftoff from the Sriharikota barrier island along the southeast coast, the agency’s chairman, A.S. Kiran Kumar, said in an interview in Bengaluru.The 22 machines being launched next week include an Earth observation satellite to capture light invisible to the naked eye. It is the biggest single launch by India, trailing Russia’s 33 in 2014 and NASA’s 29 the year before. India last month successfully launched a scale model of a reusable spacecraft, a project that in time could pit the nation against Bezos and Musk in the race to make access to space cheaper and easier. The country also injected a probe into Mars’ atmosphere in 2014 for just $74 million, about 11 percent of the cost of the U.S.’s Maven probe.

Daily Tech Snippet: Friday, June 10

• Thomas J. Perkins, Pioneering Venture Capitalist in Silicon Valley, Dies at 84: Thomas J. Perkins, who nurtured Silicon Valley’s venture capital industry into a force that later helped foster the growth of companies like Google and Amazon, died Tuesday night at his home in Marin County, Calif. He was 84. Mr. Perkins co-founded the venture capital firm Kleiner Perkins Caufield & Byers in 1972, at a time when parts of Silicon Valley were still fruit orchards. Mr. Perkins and his partners popularized a model of investment that involved putting small amounts of money into promising young start-ups in return for a stake in the companies, giving them advice and counsel to spur their growth. Some of the investments turned into gigantic hits. Mr. Perkins had said that his favorite investment was Genentech, a biotechnology company that has since been acquired by Roche. Over time, Kleiner Perkins — and its home on Sand Hill Road in Menlo Park, Calif. — became a destination for other venture capitalists. Mr. Perkins helped recruit venture capitalists like John Doerr to his firm, leading to investments in a new generation of technology companies, including Netscape, AOL, Amazon and later Google. The firm’s success transformed Silicon Valley and the technology and biotechnology industries, leading to a proliferation of venture firms in the region and creating an ecosystem of investment in start-ups that today remains unrivaled in any other part of the world. Later in his life, Mr. Perkins was embroiled in several controversies. In 1996, he was convicted in France of involuntary manslaughter from a yacht collision. In another, he stepped down from the board of Hewlett-Packard in 2006 after he said the company had used illegal methods to obtain his phone records. The allegations led to the resignation of H.P.’s chairwoman and an overhaul of the board. He also publicly broke with Kleiner Perkins in 2014 after writing an opinion piece in The Wall Street Journal in which he compared the “progressive war on the American 1 percent” to the persecution of Jews in Nazi Germany. The comments set off a firestorm, and the firm moved to distance itself from Mr. Perkins, who later apologized for his language. David A. Kaplan, who wrote a biography of Mr. Perkins titled “Mine’s Bigger: The Extraordinary Tale of the World’s Greatest Sailboat and the Silicon Valley Tycoon Who Built It” (2007), said in an interview on Thursday that Mr. Perkins’s “legacy won’t be helped by all the excessive things he said in recent years and the grudges he nursed,” though he was a “seminal figure” for Silicon Valley.

• Amazon confirms international expansion of its Fresh grocery delivery service: Amazon announced an overseas expansion of its Amazon Fresh grocery delivery service on Thursday, starting with a rollout in certain neighborhoods in London. Recode reported two weeks ago that Amazon planned to expand to a variety of new markets this year, including the U.K. and Boston in the U.S., after an 18-month hiatus on new city launches. The service will cost Londoners about $10 a month on top of their regular Amazon Prime membership, or about $120 a year. In the U.S., an Amazon Fresh membership costs about $200 on top of the normal $99 Prime membership program. Orders of around $58 or more come with free delivery in London. Amazon delivers the groceries — which can include both packaged groceries as well as perishable items like meat and cheese — on the same day for morning orders, or the next day for late afternoon and evening orders. Amazon Fresh launched nearly a decade ago, but has expanded slowly as the company has tried to figure out a business model that works. The service was previously only available in parts of Washington, California, New York, New Jersey and Pennsylvania. The online grocery market is still tiny in the U.S., but is more mature in the U.K. That means more competition for Amazon, but perhaps the opportunity to grow the business more quickly.

• Uber Feels UberPop Hangover With French, German Legal Setbacks: Uber Technologies Inc. is feeling the sting of European judges from Paris to Frankfurt over UberPop, suffering setbacks in France and Germany months after it took the ride-sharing option out of its app there. On Thursday, a French criminal court fined the company and two of its executives a total of 850,000 euros ($960,000), half of which was suspended, and a German appeals court separately said it wouldn’t overturn a ban of UberPop in the country. French prosecutors had attacked Uber for fraudulent commercial practices and encouraging illegal activity through UberPop, as well as improper use of personal data. “UberPop went on for months illegally, though the company and its executives knew very well what the applicable legal context was,” judge Cecile Louis-Loyant said in Paris. She fined Uber France 800,000 euros, the head of its French operations, Thibaud Simphal, 20,000 euros and Pierre-Dimitri Gore-Coty, the company’s general manager for Europe, the Middle East and Africa, another 30,000 euros, saying they incited others to break the law by working for the service, leading to riots and taxistrikes in the French capital. UberPop, which allows anyone with a vehicle and driver’s license to offer a cab-like service, stopped in July in France and was banned in Germany in March 2015. Meanwhile Uber’s main chauffeured-car service, that requires registration with authorities, is still going.