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Category: SmallBusinessUpdate

SmallBusinessUpdate

  • Slack CEO: No Intention To Make Slack Free

    Slack CEO: No Intention To Make Slack Free

    “There is definitely no intention to make Slack free,” says Slack CEO Stewart Butterfield. “What we’ve seen in the last little while is the biggest telco in North America is wall-to-wall on Slack. The operator of the largest integrated health care system in the United States is on Slack. The single largest government contractor in the United States is wall-to-wall on Slack.”

    Stewart Butterfield, CEO of Slack, says that both Slack and Salesforce have no intention of making Slack free for enterprises:

    Slack Connect Key To Value Unlock Of Salesforce Deal

    The simple version of the back story is this is a really unique combination. We believe we can accomplish in the next five years what might have taken us 20 years to do otherwise. That’s the heart of it and it’s a pretty big milestone for us. We’re excited. It wasn’t expected by the outside world but we have a lot of momentum now. We came out of this quarter and we announced our results and Salesforce announced their results. Then we announced the acquisition all at the same time.

    A little bit of this got lost but we added 12,000 new paying customers in that quarter. It’s up 140 percent from a year ago. It matches the crazy surge that we saw during the early days of the pandemic. That momentum is coming from product improvements and it’s coming from Slack Connect which allows two organizations to communicate across organizational boundaries. That’s actually going to be key to the value unlock over the next few years. Salesforce is all about CRM. It’s all about customers and Slack Connect is 95 percent customer-vendor relationships.

    Engagement Layer: Everyone Will See It Later

    This (acquisition) is 100% offense. There are some really unique aspects of this particular combination. We weren’t looking to sell the company. I have a great relationship with Brett Taylor, President, and COO of Salesforce. We’ve known each other for a couple of decades at this point. There’s a way in which we see the world that i think very few people see it today but everyone will see it later. One way to say that is to look at the engagement layer. That’s kind of a weird term but it is the place where the conversations are happening, the places where the decisions are being made, as the perfect place to bring together workflows across organizational boundaries.

    Salesforce has a really broad suite. But of course, we have 2,400 apps in the app directory for Slack. We have 700 000 custom integrations that were developed by customers. These are like unique little integrations, some of them very small, just sending notifications into Slack, and some of them are sophisticated workflows that run entire businesses. That’s something that we will see an increasing degree of sophistication in the messaging environment and an increasing degree of work getting done directly where the decisions are made.

    No Intention To Make Slack Free

    When Brett and I were talking we talked about the opportunity for something that’s one plus one equals seven. If you think back to the 90s and Cisco acquiring small hardware startups and then plugging it into their network of 20,000 salespeople and just selling a lot more of that thing. That’s not it. We will do that as well. We obviously have incredible distribution and incredible reach and incredible relationships across all industries and across all geographies. So we’ll sell more Slack.

    Salesforce recently announced their plan to get to $50 billion in revenue and we’ll play an important part in that. We’ll also be an accelerant for the adoption of Salesforce’s core products. There is definitely no intention to make Slack free. What we’ve seen in the last little while is the biggest telco in North America is wall-to-wall on Slack. The operator of the largest integrated health care system in the United States is on Slack. The single largest government contractor in the United States is wall-to-wall on Slack.

    We win in media and technology, kind of famously, but we also win in retail and apparel and industries that people don’t imagine seeing us. We have 142,000 customers right now. There’s going to be a lot of overlap with Salesforce but there’s also going to be 100,000 plus of those customers which are SMBs and kind of outside of Salesforce’s purview so far. We think there’s the opportunity to bring them into the fold and to connect them all together with Slack Connect.

    Slack CEO Stewart Butterfield: No Intention To Make Slack Free
  • Tips For Optimizing Your Email Marketing Strategies

    Tips For Optimizing Your Email Marketing Strategies

    Only 2.62% of recipients click links for “more information” in marketing emails; however, we will send a collective of 361 billion emails per day by 2024. More along, 90% of marketing professionals say email engagement is the number one metric that can help them measure content performance. Similarly, 87% of marketing professionals say email is one of their top free, and organic, channels for content distribution, and 81% say email newsletters are their most used form of content marketing. 

    Email newsletters can lend a great deal of help in client retention, communication, and revenue-building. Many newsletters provide readers with coupons, exclusive offers and products, as well as membership perks and discounts. As a result, experts have found shoppers to spend nearly 137% more with a business after receiving email offers. To the benefit of the brand, a $45 return is seen for every $1 spent on email marketing.

    In other words, the key to successful email marketing is getting your content seen and engaged with without getting flagged as spam. Luckily, this is achievable in various ways.

    One of the easiest things you can do to raise your email open rates is to replace any irrelevant text or uninteresting subject lines. When crafting an email, be personal. Feel free to use the recipient’s name or location as a conversation-builder. Continuing on, be brief. As a general rule of thumb, keep email subject lines under 10 words – and/or 60 characters. However, remember to keep your subject line friendly, as this personable method also increases email open rates. With this, be sure to use no more than 3 punctuation marks and 1 emoji.

    Of course, there are many methods to messaging targeted recipients. A/B comparison methods can assist as they allow for testing across various subject lines. With its results, you can learn which outreach variant your customers prefer.

    You can also categorize your contacts into interest groups and geolocation to ensure content is relevant to all receivers. Geolocations can be as specific as time zones or regions.

    On the other hand, you can increase your click-through rates using hacks just as easy. For example, change your hyperlink’s text, and avoid using “click here.” Remember: not many email recipients click for more. Instead, take the opportunity to embed multiple links to the same content, and create descriptive and concise link text when doing so. You can also use A/B style testing here to test out content blocks.

    When conducting outreach, one of the most important keys to remember is not getting marked as spam. Recipients rarely flag marketing emails as spam; but when they do, it’s because they’ve grown stale of the marketer’s content, their contact information has been purchased, they have been contacted without permission, or something else along these lines.

    As a human courtesy, ask customers to opt-in to receiving your emails before auto-blasting them with content. In fact, take the time to explain the benefits such as coupons or other exclusive offers when asking them to op-tin. Regardless of what you, never purchase email addresses. Similarly, never hide the unsubscribe link from your emails. It’s always important to keep emails and campaigns professional – so stick to any email frequency expectations you have set for your team.

    Overall, all marketers want consumers to engage with their content. The best way in doing so may be through email marketing. Do you know the best tactics for engaging with the public?

  • ‌macOS Big Sur Release Times

    ‌macOS Big Sur Release Times

    Apple announced the release of macOS Big Sur for Thursday, November 12 during its ‘One More Thing‘ event. It’s a huge upgrade that millions of Mac users will want to download ASAP. You will know when it is available in your time zone by clicking the Apple logo in the upper left of your Mac, then clicking ‘About This Mac’ and then clicking ‘Software Update.’ If it still says your Mac is up to date… then macOS Big Sur has not yet been released in your time zone.

    So just when will it be available? Mac Rumors provided their best time estimates based on past releases, which is typically 10 AM Pacific Time. We’ve added additional cities:

    • Honolulu, Hawaii — 8:00 a.m. HST
    • Anchorage, Alaska — 9:00 a.m. AKST
    • Cupertino, California — 10:00 a.m. PST
    • Los Angeles, California — 10:00 a.m. PST
    • San Diego, California — 10:00 a.m. PST
    • Seattle, Washington — 10:00 a.m. PST
    • Tijuana, Mexico — 10:00 a.m. PST
    • Vancouver, Canada — 10:00 a.m. PST
    • Phoenix, Arizona — 11:00 a.m. MST
    • Denver, Colorado — 11:00 a.m. MST
    • Chicago, Illinois — 12:00 noon. CST
    • Boston, Massachusetts — 1:00 p.m. EST
    • Lexington, Kentucky — 1:00 p.m. EST
    • Miami, Florida — 1:00 p.m. EST
    • New York, New York — 1:00 p.m. EST
    • Washington, D.C. — 1:00 p.m. EST
    • Toronto, Canada — 1:00 p.m. EST
    • Halifax, Canada — 2:00 p.m. AST
    • Rio de Janeiro, Brazil — 3:00 p.m. BRT
    • London, United Kingdom — 6:00 p.m. GMT
    • Berlin, Germany — 7:00 p.m. CET
    • Paris, France — 7:00 p.m. CET
    • Cape Town, South Africa — 8:00 p.m. SAST
    • Helsinki, Finland — 8:00 p.m. EET
    • Moscow, Russia — 9:00 p.m. MSK
    • Istanbul, Turkey — 9:00 p.m. TRT
    • Dubai, United Arab Emirates — 10:00 p.m. GST
    • Delhi, India — 11:30 p.m. IST
    • Jakarta, Indonesia — 1:00 a.m. WIB next day
    • Shanghai, China — 2:00 a.m. CST next day
    • Singapore — 2:00 a.m. SGT next day
    • Perth, Australia — 2:00 a.m. AWST next day
    • Hong Kong — 2:00 a.m. HKT next day
    • Seoul, South Korea — 3:00 a.m. KST next day
    • Tokyo, Japan — 3:00 a.m. JST next day
    • Brisbane, Australia – 4:00 a.m. AEST next day
    • Adelaide, Australia — 4:30 a.m. ACDT next day
    • Sydney, Australia — 5:00 a.m. AEDT next day
    • Auckland, New Zealand — 7:00 a.m. NZDT next day
  • You Can’t Find A 24-Year-Old On Facebook Today

    You Can’t Find A 24-Year-Old On Facebook Today

    “You‌ ‌can’t‌ ‌find‌ ‌a‌ ‌24-year-old‌ ‌on‌ ‌Facebook‌ ‌today,” says social media marketing expert Gary Vaynerchuk. ‌”Every‌ ‌one‌ ‌of‌ ‌them‌ ‌was‌ ‌on‌ ‌the‌ ‌platform‌ ‌eight‌ ‌years‌ ‌ago.‌ ‌So‌ ‌it‌ ‌ebbs‌ ‌and‌ ‌flows‌ ‌and‌ ‌as‌ TikTok‌ ‌gets‌ ‌older‌ ‌an‌ ‌audience‌ ‌can‌ ‌emerge.‌ ‌I’ve‌ ‌been‌ ‌putting‌ ‌out‌ ‌business‌ ‌content‌ ‌on‌ ‌the‌ ‌platform‌ ‌from‌ ‌day‌ ‌one,‌ ‌it skews ‌entrepreneurial,‌ ‌which‌ ‌may‌ ‌work‌ ‌in‌ ‌teenage‌ ‌and‌ ‌early‌ ‌20s.”

    Gary Vaynerchuk, CEO of Vayner Media, social media star and entrepreneurial guru followed by millions, says you can’t even find a 24-year-old‌ ‌on‌ ‌Facebook‌ ‌today:

    I Don’t Believe TikTok Is A National Security Threat

    The‌ ‌pitch‌ ‌started‌ ‌before‌ ‌all‌ ‌the‌ ‌brouhaha‌ ‌started.‌ ‌We‌ ‌were‌ ‌awarded‌ ‌the‌ ‌business‌ ‌(with TikTok) during‌ ‌this‌ ‌time‌. ‌Obviously,‌ ‌like‌ ‌every‌ ‌other‌ ‌American‌ ‌business‌ ‌in‌ ‌the‌ ‌world, we‌ ‌will‌ ‌deal‌ ‌with‌ ‌whatever‌ ‌the‌ ‌rules‌ ‌are.‌ ‌Like‌ ‌everybody‌ ‌else,‌ ‌we’re‌ ‌standing‌ ‌by.‌ Personally‌, ‌I‌ ‌don’t‌ (consider TikTok‌ a national security threat). ‌But‌ ‌maybe‌ ‌I’m‌ ‌not‌ ‌sitting‌ ‌on‌ ‌information‌ ‌that‌ ‌others‌ ‌are.‌ ‌But‌ ‌no‌, ‌I‌ ‌do‌ ‌not.‌

    ‌Our‌ ‌small‌ ‌scope‌ ‌with‌ ‌TikTok‌‌ ‌at‌ ‌the‌ ‌Vayner‌ ‌Media‌ ‌level‌ ‌doesn’t‌ ‌really‌ ‌impact‌ ‌what‌ ‌I’m‌ ‌interested‌ ‌in‌ ‌in‌ ‌the‌ ‌scheme‌ ‌of‌ ‌business.‌ ‌Facebook,‌ ‌Inc.‌, ‌Pinterest‌, and‌ ‌Linkedin‌ ‌all‌ ‌our‌ ‌platforms‌ ‌that‌ ‌all‌ ‌of‌ ‌our‌ ‌brands‌ ‌work‌ ‌on.‌ ‌I’m‌ ‌not‌ ‌overly‌ ‌emotional‌ ‌or‌ ‌I ‌have‌ ‌no‌ ‌feelings‌. ‌I ‌could‌ ‌care‌ ‌less‌ ‌if ‌Facebook‌, ‌Snapchat‌, ‌Linkedin,‌ ‌CNBC, ‌the‌ ‌New‌ ‌York‌ ‌Times‌ ‌disappeared‌ ‌off‌ ‌the‌ ‌face‌ ‌of‌ ‌the‌ ‌Earth.‌ ‌I’m‌ ‌focusing‌ ‌on‌ ‌attention‌ ‌and‌ ‌that’s‌ ‌what‌ ‌our‌ ‌clients‌ ‌are‌ ‌focusing‌ ‌on.‌ ‌Where‌ ‌is‌ ‌the‌ ‌actual‌ ‌attention‌ ‌and‌ ‌how‌ ‌do‌ ‌we‌ ‌advertise‌ ‌on‌ ‌that‌ ‌platform?‌ ‌

    Every Influencer Needs To Be On Every Platform

    As‌ ‌far‌ ‌as‌ ‌the‌ ‌influencers,‌ ‌every‌ ‌influencer‌ ‌in‌ ‌the‌‌ ‌world‌ ‌needs‌ ‌to‌ ‌divest‌ ‌and‌ ‌be‌ ‌in‌ ‌every‌ ‌single‌ ‌platform‌ ‌and‌ ‌create‌ ‌contextual‌ ‌content‌ ‌on‌ ‌each‌ ‌of‌ ‌those‌ ‌platforms.‌ Whether‌ ‌it’s‌ ‌a‌ ‌government‌ ‌getting‌ ‌involved‌ ‌and‌ ‌shutting‌ ‌it‌ ‌down‌ ‌or‌ ‌if‌ ‌it’s‌ ‌the‌ ‌consumers‌ ‌shifting‌ ‌if‌ ‌you‌ ‌put‌ ‌all‌ ‌your‌ ‌eggs‌ ‌into‌ ‌MySpace‌ ‌you’re‌ ‌not‌ ‌doing‌ ‌so‌ ‌well‌ ‌today.‌ ‌So‌ ‌something‌ ‌I’ve‌ ‌been‌ ‌screaming‌ ‌about‌ ‌in‌ ‌my‌ ‌content‌ ‌for‌ ‌a‌ ‌decade‌ ‌is‌ ‌if‌ ‌you’re‌ ‌not‌ ‌creating‌ ‌content‌ ‌across‌ ‌the‌ ‌board‌ ‌you’re‌ ‌losing‌. ‌It’s‌ ‌something‌ ‌that‌ ‌brands‌ ‌need‌ ‌to‌ ‌be‌ ‌doing.‌ ‌

    Way‌ ‌too‌ ‌many‌ ‌are‌ ‌pot-committed‌ ‌to‌ ‌commercials‌ ‌on‌ ‌a‌ ‌TV ‌network‌ ‌when‌ ‌all‌ ‌the‌ ‌attention‌ ‌is‌ ‌shifting‌ ‌to‌ ‌your mobile device. ‌

    You Can’t Find A 24-Year-Old On Facebook Today

    What’s‌ ‌funny‌ ‌is‌ ‌if‌ ‌you‌ ‌look‌ ‌at‌ ‌what’s‌ ‌happening‌ ‌on‌ ‌TikTok‌, ‌‌we’re‌ ‌getting‌ ‌our‌ ‌advertisers‌ ‌that‌ ‌are‌ ‌trying‌ ‌to‌ ‌reach‌ ‌35‌ ‌to‌ ‌45‌ ‌going‌ ‌on‌ ‌the‌ ‌platform‌ ‌pretty‌ ‌aggressively‌ ‌because‌ ‌every‌ ‌platform‌ ‌gets‌ ‌much‌ ‌older.‌ ‌Don’t‌ ‌deviate‌ ‌from‌ ‌what‌ ‌you‌ ‌know.‌ ‌If‌ ‌you‌ ‌and‌ ‌I ‌dance‌ ‌on‌ ‌that‌ ‌platform‌ ‌I ‌don’t‌ ‌think‌ ‌we’re‌ ‌getting‌ ‌that‌ ‌many‌ ‌views.‌ ‌You‌ ‌need‌ ‌to‌ ‌stay‌ ‌in‌ ‌your‌ ‌pocket‌ ‌and‌ ‌create‌ ‌the‌ ‌content‌ ‌‌and‌ ‌let‌ ‌platforms‌ ‌evolve.‌ ‌

    https://www.instagram.com/p/B_d-65RFQNd/

    You‌ ‌can’t‌ ‌find‌ ‌a‌ ‌24-year-old‌ ‌on‌ ‌Facebook‌ ‌today.‌ ‌Every‌ ‌one‌ ‌of‌ ‌them‌ ‌was‌ ‌on‌ ‌the‌ ‌platform‌ ‌eight‌ ‌years‌ ‌ago.‌ ‌So‌ ‌it‌ ‌ebbs‌ ‌and‌ ‌flows‌ ‌and‌ ‌as‌ TikTok‌ ‌gets‌ ‌older‌ ‌an‌ ‌audience‌ ‌can‌ ‌emerge.‌ ‌I’ve‌ ‌been‌ ‌putting‌ ‌out‌ ‌business‌ ‌content‌ ‌on‌ ‌the‌ ‌platform‌ ‌from‌ ‌day‌ ‌one,‌ ‌it skews ‌entrepreneurial,‌ ‌which‌ ‌may‌ ‌work‌ ‌in‌ ‌teenage‌ ‌and‌ ‌early‌ ‌20s.‌ ‌CNBC‌ ‌and‌ ‌‌your‌ ‌incredible‌ ‌show‌ ‌could‌ ‌dominate‌ ‌on‌ ‌TikTok‌‌ ‌if‌ ‌you‌ ‌put‌ ‌out‌ ‌information‌ ‌and‌ ‌just‌ ‌had‌ ‌the‌ ‌nuances‌ ‌of‌ ‌TikTok‌ ‌more‌ ‌than‌ ‌trying‌ ‌to‌ ‌become‌ ‌Charlie Demilio.

  • SMB Manufacturers Accelerating Pivot To Digital

    SMB Manufacturers Accelerating Pivot To Digital

    A huge survey by Alibaba of 5,015 US B2B SMBs and SMB manufacturers indicates a significant pivot to digital. Small and medium manufactures have traditionally been slower to integrate digital into their businesses. However, according to the survey, SMB manufacturers have been digitizing at twice the rate of other industries during the pandemic – to support other manufacturers as they accelerate their digitization.

    Key findings from the full U.S. B2B SMB survey:

    • SMBs accelerated their pivot to digital: 93% of B2B companies are now conducting some portion of their business online, up from 90% in December, and 43% are utilizing ecommerce, an 8% increase over the same time period.
    • SMBs are finding opportunities internationally: even with supply chain disruptions during the pandemic, 63% of B2B companies report conducting some amount of cross border B2B trade, up from 59% in December.
    • SMB manufacturers surpassed other industries in digitization: amid the pandemic, manufacturers’ online B2B trade increased 8% – twice the rate of the overall 4% increase in all industries for the same period and tied with retail as the industries with the most digital growth. In December, U.S. manufacturers’ online B2B trade volume lagged all other industries except construction but have now passed multiple industries in their pivot to digital.

    “We were happy to see the increasing digitization of US B2B companies and that many are increasing trade despite the pandemic, showing the resilience and grit of American business owners and entrepreneurs,” said John Caplan, President of North America and Europe of Alibaba.com. “Our research finds that digitization is no longer a nice-to-have, but a must-have for companies in every industry to bridge from surviving to thriving in the next era of business.”

  • Zoom COO: Transaction Fees Possible For New OnZoom Service

    Zoom COO: Transaction Fees Possible For New OnZoom Service

    Zoom COO Aparna Bawa says that Zoom is open to experimenting with transaction fees for its new OnZoom service targeting video delivered services like piano lessons.

    “We still are watching and waiting to see what the economics look like,” said Zoom COO Aparna Bawa at WSJ Tech Live. “We want to make sure that the customer base that we’re serving finds it helpful, it’s priced at the right point, it’s beneficial to all,”

    When asked about getting a cut of online video services Bawa said: “We’re not quite sure how that’s going to work. “For us, it’s a long game. The more and more we can build our user base and establish trust with folks like you, the more sort of legs we have as a company.”

    OnZoom, currently in beta, is a service for paid Zoom users to create, host, and monetize events like fitness classes, concerts, stand-up or improv shows, and music lessons on the Zoom Meetings platform.

    “We were humbled and inspired by all of the amazing ways the world adapted to a literal shutdown of in-person events amid COVID-19,” says Zoom product manager Aleks Swerdlow. “When business owners, entrepreneurs, and organizations of all sizes had to find some way – any way – to stay the course and continue providing services to their customers, many turned to Zoom. OnZoom simplifies that experience.”

    In short, OnZoom is Zoom for paid events or services. It has the potential to vastly increase Zoom revenues by tapping into entrepreneurs and small businesses that want to provide a service specific to individuals or groups and not just give it away on YouTube. Think personalized Yoga training, tutors for your kids, computer support, and cooking classes personalized to you. It also includes event discovery features and can be used for free events as well.

  • Airbnb: Working From ‘Any Home’ Huge 2021 Trend

    Airbnb: Working From ‘Any Home’ Huge 2021 Trend

    An Airbnb commissioned survey reveals that the work at home trend will be transforming into the ‘working from any home’ in 2021. The survey conducted by ClearPath Strategies says that 83% of employees are in favor of relocating as part of remote working. Over 25% believe they will be able to ‘live where they want to and work remotely’. This would assume that many companies will not require employees to come into physical locations on a regular basis for group meetings or strategy sessions.

    One in five of those surveyed have relocated their living situation during the pandemic either temporarily or permanently, according to the survey. Surprisingly, 60% of parents are very or somewhat likely to consider working remotely and traveling with their children if schools continue to be disrupted.

    Not so surprisingly, Airbnb says that from July to September of this year, there has been a 128% increase in guest reviews mentioning “relocation”, “relocate”, “remote work” and “trying a new neighborhood” in comparison to the same time frame last year.

    There is also a big trend out of cities and into suburbs and rural areas. Since the pandemic started, 24% of people say they moved to a suburb and 21% to a rural area. Additionally, Airbnb reveals that those that can work from anywhere are booking longer stays of two or more weeks.

    One of the ways travelers are taking advantage of this trend is trying before they buy–turning to Airbnb to test new neighborhoods and cities before making a long-term commitment. From July to September this year, there has been a 128 percent increase in guest reviews mentioning “relocation”, “relocate”, “remote work” and “trying a new neighborhood” in comparison to the same time frame last year. 

    Source: Airbnb
  • Apple Launches 5G iPhone 12

    Apple Launches 5G iPhone 12

    Apple CEO Tim Cook announced today the launch of iPhone 12 and iPhone 12 Pro with 5G:

    Today we’re bringing 5G to iPhone. This is a huge moment for all of us and we’re really excited. 5G will bring a new level of performance for downloads and uploads, higher quality video streaming, more responsive gaming, real-time interactivity, and so much more. 5G networks are more advanced with lower latency and less network congestion so you can get higher network speeds even in densely populated areas. 5G even helps protect your privacy and security since you won’t need to connect to unknown unsecured public wi-fi hotspots as often.

    Each generation of cellular network technology on the iPhone has enabled breakthrough innovations and entirely new opportunities for our developers and our users. 5G is the most exciting step yet. For so many people this all becomes real with 5G coming to iPhone.

    Verizon CEO Hans Vestberg also spoke at Apple’s launch event about the impact of 5G for the iPhone:

    5G just got real. Of course, what’s the most exciting part for me as a guy who has worked in networking for 25 plus years? The fact that for the first time ever iPhone can now access Verizon’s 5G Ultra Wideband. It’s built with large quantities on millimeter wave spectrum that enable unprecedented performance. 5G Ultra Wideband has already been recognized as being the fastest 5G in the world and it’s getting even faster. Our 5G network now gives you double the peak download speeds, over 4 gigabits per second today in ideal conditions. And even higher over time.

    It also gives you double the upload speeds at over 200 megabits per second. So whatever you’re watching, a high definition movie or you’re planning business workflows with real-time augmented reality, you can be sure that there’s no faster 5G anywhere on earth. 5G Ultra Wideband has also a massive capacity. We’re building it to help remove bottlenecks in crowded places where thousands of people use their phones at the same time. Because one day we’ll be safely back in those places.

    Watch Apple’s 5G launch even in full:

  • Lyft Co-Founder Says Rides Are Still Down 50%

    Lyft Co-Founder Says Rides Are Still Down 50%

    “The impact of the pandemic to us in the broader market is rides being down about 50% now,” says Lyft co-founder and President John Zimmer. “They were down 75%. So we are halfway recovered across the board. That impacts individual drivers as well. If you look at how some drivers have shifted, we actually have higher driver earnings now per hour than even pre-pandemic.”

    John Zimmer, co-founder and President of Lyft, discusses the impact of the pandemic on Lyft, noting that daily rides are still down by half since March 2020:

    Lyft Rides Still Down 50%

    Drivers 4 to 1 want to remain independent contractors and want to retain flexibility. Depending on the market, 80 to 90% drive less than 20 hours a week. We think there is a much better way forward than saying (in California) that everyone should become employees. That way forward is to say let’s retain the flexibility and let’s add more protections and benefits like we are pushing for in California.

    The impact of the pandemic to us in the broader market is rides being down about 50% now. They were down 75%. So we are halfway recovered across the board. That impacts individual drivers as well. If you look at how some drivers have shifted, we actually have higher driver earnings now per hour than even pre-pandemic. There’s equilibrium between demand and supply, between riders and drivers.

    Impact Of Lockdowns And The Virus Is Real

    The impact to the broader economy and the impact with lockdowns and the virus is real for our business. Transportation is directly tied to people’s movement and the broader economy. That said, we’ve continually week over week seen incremental improvements going from negative 75% to now above 50%.

    We see markets like Toronto back to 80% of where we were before. As countries get better and as states get better at living with the conditions we have because of the virus I see continued improvement. Driver earnings per hour are higher today than they were pre-pandemic. We are looking right now for more drivers.

    Regulation Has Been Part Of Our History From Day One

    Regulation has been a part of our history from day one. We are as much in the transportation business as we are in the technology business and transportation historically has been a regulated industry. Within our first year of operation, we worked with California regulators to create a new category for regulation.

    It’s been part of our business and will always be part of our business. It’s part of how we think about the path to profitability but we are just moving forward on that path despite anything that is going to change around us in terms of regulation.

    Largest Bike-Share Program In North America

    We also have a diversified set of transportation that we offer. We have the largest bike-share program in North America with City Bikes in New York City and Bay Wheels in the Bay and Divvy in Chicago. Our bike systems are in many cases above where they were pre-COVID. They are a great way to get around and get some fresh air and not be next to someone else.

    Lyft Co-Founder John Zimmer Says Rides Are Still Down 50%
  • Box CEO: Pandemic Opened Up New Way Of Working

    Box CEO: Pandemic Opened Up New Way Of Working

    “It’s been a funny journey working remotely,” says Box CEO Aaron Levie. “A month or two into the pandemic I distinctly remembered that we actually started our company completely remotely. The move to this remote work style is causing us to realize how different managing and leading businesses and executing can be if we were able to take advantage of virtual technology more even when we go back to the office. This completely opens up a new way of working.”

    Aaron Levie, co-founder and CEO of Box, discusses at the CNBC @Work Summit how remote working that was forced upon companies has actually opened them up to a completely new way of working:

    It’s Been A Funny Journey Working Remotely

    It’s been a funny journey working remotely. A month or two into the pandemic I actually distinctly remembered that wait a second, we actually started our company completely remotely. My co-founder and I were going to two different colleges at the time and so the whole business was run over instant messaging. Before we had Slack we had AOL Instant Messenger. Before we had Okta we had really bad passwords. We were a remote company and we started our own product because we wanted to make it so people could easily access and share files from anywhere. That was the origin of the business.

    Fast forward 15 years later, we have 2,000 employees, we work in offices, we have a lot of the standard ways you think about when scaling up the company. When we had to instantly move to a remote and distributed way of working it really hit me how much of the work style that gets embedded into our companies are really actually things that just carried forward from the 20th Century when everything was analog and everything was done in person. All communication was done between people either through written communication or just a meeting.

    Pandemic Opened Up New Way Of Working

    You realize that when you go virtual and you go remote there is actually so much potential to be able to work in a digital-first way. When you think about a team meeting as an example, so many of our meetings are arbitrarily sized to the number of people that fit into a conference room. So it’s kind of bizarre that work just happens to be the six to twelve people that can fit into a conference room space. Certainly for software projects or a particular team that’s a pretty good logical size. But that’s not the right size that contributes to a brainstorm. That’s not inherently the right size of people that you want when you’re communicating information and getting the best ideas around how to go drive the business.

    So having that Slack channel with 150 people in it that cuts across different parts of the organization we are able to get contributions from people that would have never been in that conference room previously. That completely opens up a new way of working. Think of what you now do on video and the ability to include voices and ideas from people that previously wouldn’t have spoken up or wouldn’t have had an easy opportunity to contribute to some particular part of the business or strategy or have a two-way dialogue on a really important business topic.

    Real Potential That We Want To Continue

    We had a meeting with all of our top 200 leaders in the company last week and that was a complete bidirectional discussion in a way that would never have been possible in person. That’s usually a person with a microphone just communicating outward to everybody in the business and not actually having it be a dialogue to get feedback. The move to this remote work style is causing us to realize actually how different management and leading businesses and executing can be if we were able to take advantage of virtual technology more even when we go back to the office.

    None of this requires you to be remote it’s just sort of the remote that was forced upon all of us to the point that we are now realizing that there is actually some real potential here that we want to continue to maintain going forward.

  • Tilman Fertitta: New York Restaurants Are Not Going To Last

    Tilman Fertitta: New York Restaurants Are Not Going To Last

    Landry’s CEO Tilman Fertitta said on CNBC that at only 25% maximum capacity New York restaurants are going to go out of business:

    New York Restaurants Are Not Going To Last

    Restaurants are not going to last at these kinds of numbers. Anybody who has a restaurant in New York that is full-service casual dining at 25% is going to go out of business. It’s really a shame. People have taken years and years and years to build these restaurants up. I have a huge company with restaurants in 40 states. I have casinos that are doing well. But if you are a New York restaurateur you’re in for a long haul right now.

    I will say it again. I don’t think that the government officials realize it because they get their paycheck every single week. They don’t realize that these cooks, these waiters, these hostesses, and then the managers at these restaurants, and how difficult it is when you are not getting a paycheck every week. And you don’t get that $600 kick from the government anymore. So you are going to see unemployment stay probably where it is until we get through the winter months and we start to improve things hopefully or the vaccine comes out.

    Don’t Punish Me Just Because I’m Big

    My whole problem has been I definitely want to take care of the small mom and pop businesses. I think we should also take care of the airlines. But you can’t leave people out like me. I’m a 100% owned family business. Don’t punish me just because I’m big and I provide 60,000 jobs out there. I can’t make a 60,000 payroll if they shut us down again. I don’t want to have to lay my employees off again. There has got to be something that treats everybody. Forget about the ownership.

    Why should an employee (not get helped out) because you work for a billionaire and you don’t? Or, a person that isn’t the front person of the company. I know people that have billionaires that really own restaurants and the chef only owns a small percentage but they were all able to take PPP money because they are not at the forefront like I am. I just want to see everybody treated the same. The government definitely needs to come in and help everyone but it should be for all employees of all businesses, especially restaurants and retail. Don’t look at ownership. Make the money go to the employees. Don’t worry about me.

  • WSJ: Google Deal With Apple Worth $13 Billion A Year

    WSJ: Google Deal With Apple Worth $13 Billion A Year

    The Wall Street Journal is reporting that Google may be paying Apple as much as $13 billion per year to be the default search engine for the Safari web browser which is included on all Apple devices. That’s up from $1 billion that Google paid Apple in 2014 which was disclosed in a court filing during a legal battle with Oracle. If the $14 billion is accurate it amounts to approximately 25% of Apple’s total services revenue.

    The DOJ is currently meeting with state attorney generals in anticipation of filing an antitrust case against Google which is officially owned by Alphabet, Inc. The New York Times says that a primary focus of a lawsuit by the Justice Department is the default search deals that Google has with Apple and other companies. These agreements make it virtually impossible for competitors to ever make a dent into Google’s 92.1% US search engine market share.

    Google has repeatedly said that the simple reason it is popular is that it works hard to deliver the best search results. The WSJ article notes that even if Google was precluded from default search deals many people would still choose to use Google for search, validating Google’s argument.

    A recent post by Google advanced that point:

    Products like Search, Gmail, and Maps help Americans every day. Survey research found that these services provide thousands of dollars a year in value to the average American. We provide these tools to everyone for free.

    Our products increase choice and expand competition. They level the playing field for small businesses everywhere—enabling them to sell their products, find customers, reduce their costs and, in difficult times, get back on their feet.

    Source: Google Blog

    Google says that its free products help people and small businesses across America. They make the case that their technologies help America maintain its competitive edge. In other words, Google doesn’t charge for its search engine and is providing a service loved by millions, so it’s not anti-competitive simply because people choose it instead of competitors.

  • Video Timeline: Richest Billionaires Over The Last 10 Years

    Video Timeline: Richest Billionaires Over The Last 10 Years

    Forbes created a cool two-minute video timeline of the richest billionaires in America over the last ten years. The current wealthiest American, of course, is Amazon founder and CEO Jeff Bezos who is worth $179 billion. He is followed by Microsoft co-founder Bill Gates who is only worth $111 billion. Interestingly, both of these billionaires would be even richer had Bezos not divorced and Gates didn’t give away a huge chunk of his fortune to his family foundation.

    Bezos’s divorce cost him $38 billion in stock at 2019 prices. If he had stayed married and held onto his shares he would be $57 billion richer and be worth an astounding $236 billion. Bill Gates has reportedly given away over $50 billion to charitable causes over the years. If he had held on to his Microsoft shares who knows, he might even be richer than Jeff Bezos!

    Rounding out the current Top Ten Richest American Billionaires are Facebook’s Mark Zuckerberg at $85 billion, investor Warren Buffett at $73.5 billion, Oracle founder Larry Ellison and current potential TikTok investor at $72 billion, former long-time Microsoft CEO and current Clippers owner Steve Ballmer at $69 billion, PayPal-Tesla-SpaceX entrepreneur Elon Musk at $68 billion, Google co-founders Larry Page and Sergey Brin at $67.5 and 65.7 billion, and last but not least Sam Walton daughter and Walmart heiress Alice Walton at $62.3 billion. Notably, Alice Walton is the richest woman in the world.

    Video Timeline: Richest Billionaires Over The Last 10 Years
  • Harnessing The Power Of Mobile Communication For Your Business

    Harnessing The Power Of Mobile Communication For Your Business

    As technology changes so does the way we interact with each other. Before smartphones and ordering online, popping into a shop to search for a particular item or calling around to find it before heading out were both common things to do. The internet and later smartphones changed all that. Now we have access to whatever information we need right at our fingertips at all times. If we are searching for something hard to find we can simply order it online. If we are planning to go purchase something in person or we want more information about an item before we buy it, we often consult our smartphones for further information rather than asking a store employee for help. In fact, even before the COVID-19 pandemic, 69% of people would rather search for information on their phones instead of asking for help from a store employee, and the pandemic has just made this practice all the more practical.

    All the information and technology we carry around in our pockets has changed the way we interact with the world. We send text messages and emails more frequently than calling now and if we don’t know something it’s just a matter of knowing how to find it. With the spread of the pandemic accessing information has become even more crucial. We can look up mask policies and procedures before we go to a business, find out if a business has special hours for those with disabilities and the elderly, and look up every-changing hours and services.

    Consumers And Mobile Communication

    Before the pandemic, 81% of consumers used mobile to manage finances, while 79% used mobile to make online purchases. Any why wouldn’t they? The days of getting up and going to the computer every time you wanted to look something up, pay a bill online, or buy something are long over.

    Increasingly, stores are giving information to consumers that they have never given out before. One of the things customers can look for online with many businesses is not only where an item is located in a store, but also how many of that item are in stock at any given time. Customers want accurate information and they want it now, as their time is becoming more valuable than ever. What’s more, knowing you will find what you are looking for before you leave the house is actually pretty critical during the age of social distancing.

    Mobile Communication In Retail

    Communicating with customers is changing thanks to the mobile revolution. Answering phone calls from customers is no longer the main interaction with them. In fact, 85% of those who own smartphones prefer text messages to calls or even emails, which means that businesses that aren’t responsive to this type of communication are likely missing out on customers.

    55% of people ignore marketing emails because they get too many emails, and 29% never listen to voicemail. On the other hand, 90% of people open a text message within minutes. In fact, there is a:

    Before the COVID-19 pandemic 68% of businesses were already using some form of messaging to connect with their customers. This placed them in a considerably better position when the pandemic hit because they already had the infrastructure in place to meet the changing needs of customers in response to social distancing.

    Now customers need information before they show up to a business, and mobile messaging is the way they often prefer to receive it. Curbside pickup has doubled since last year and 59% of customers plan to continue using it after the pandemic passes, and this service is made possible through the use of mobile messaging.

    Mobile Communication In Foodservice

    Mobile ordering and messaging has also been a boon to restaurants since the start of the pandemic. In many places restaurants have only been open for takeout orders, so having apps and messaging abilities for taking orders and telling customers when their orders are ready has helped them to run on a skeleton crew while making the changes necessary to function as a takeout only business.

    In March of this year pizza deliveries went up 44% in a single week, and many companies used online ordering and mobile communication to ensure contactless deliveries.

    As restaurants begin to reopen with new social distancing guidelines in place, mobile messaging helps to keep communication going for reservations, when tables are ready, and more.

    Mobile Communication In Medicine

    Accessing medical services has been challenging because of the pandemic, and early on laws were relaxed to allow people to access telehealth services. In order to make the transition easier for medical providers and patients alike, all messaging and video call services were allowed so that doctors could get care to those who needed it via whatever means they were able to use. Teladoc saw a 50% increase in use in the first week alone.

    Mobile messaging can be used for appointment reminders, prescription refill verifications, and more, and 72% of organizations plan to implement more and better digital customer experiences throughout the rest of 2020.

    Mobile Communication In Customer Service

    When it comes to customer complaints, nothing makes customers angrier than sitting on hold for hours waiting for their call to be answered, which makes it not the best way to solve customer complaints to begin with.

    Chats and mobile messaging give customers the ability to initiate contact and then do other things while they await a response. It’s a much less stressful way to deal with contacting customer service, and it’s a lot more effective than airing out grievances on social media, which can come back around with undesirable consequences later on.

    But text messaging has to go both ways. It’s not enough to send marketing messages via SMS, businesses also need to be able to respond to messages they receive. One in three customers report sending a message to a company and never hearing back from them, and in many cases it is simply because the company has not enabled two way messaging.

    65% of customers have positive feelings toward businesses that offer messaging as a means of communication, likely because it shows the company respects the customer’s communication style and choices.

    Harnessing The Power Of Mobile Communications

    Customers say that businesses that offer messaging respect their time, which makes them more likely to choose to do business with that company. It also means those happy customers are more likely to recommend that business to friends and family.

    As technology changes, the ways that businesses interact with customers have to keep up with the times. The first rule of customer service is to meet customers where they are, and if that means hanging up the phone and sending out a text message that’s how it has to be.

    Mobile communication is likely to hinge on SMS messages for some time to come, and businesses that aren’t already using this method are missing out on business. Is your business ready to harness the power of mobile communication?

  • Slice CEO Leading Digital Transformation Of Pizzerias

    Slice CEO Leading Digital Transformation Of Pizzerias

    “We want to make sure that 70 to 80 percent of the volume for pizzerias is digital., says Slice CEO Ilir Sela. “This is very comparable to Domino’s and Papa John’s and other big chains. We’ve got to lead the digital transformation of these small businesses. We bring technology and marketing and we enable the existing operation of the pizzeria. We make them more efficient and we make these Pizzerias really powerful and valuable.”

    Ilir Sela, CEO of Slice, discusses how the Slice app is driving the digital transformation of small pizzerias so that they can compete effectively with the national pizza chains:

    Leading Digital Transformation Of Pizzerias

    We take a merchant friendly approach because we really believe in the power of small business and the American dream. I am third generation in the pizza industry. My family consists of a ton of entrepreneurs who mostly opened up small business pizzerias. The goal for us was to make sure that as digital becomes an important component of their business that it doesn’t cannibalize the physical location.

    So we take a digital-first approach in a way that means we want to make sure that 70 to 80 percent of the volume for these pizzerias is digital. This is very comparable to Domino’s and Papa John’s and other big chains. In order to do that you have to take a long-term view and you’ve got to take a merchant friendly view around loyalty and online ordering. Obviously, in order to do that we’ve got to run the playbook. We’ve got to lead the digital transformation of these small businesses.

    All Pizzerias Need To Digitize Their Platforms

    We are actually an all-in-one platform where we partner with a small business in order to digitize their operation. We are not a logistics company ourselves. We empower small businesses to have what we call first-party delivery. In a way, that’s been done forever. Small business pizzerias have delivered across the entire country for decades and they’ve made it work incredibly well.

    The reality is that in the world of COVID and as we go further into the 2020s, all these pizzerias really need to digitize their platforms in order to become more efficient. What we do is we bring technology and marketing and we enable the existing operation of the pizzeria. We make it more efficient and we make it really powerful and valuable.

    Slice CEO Ilir Sela Leading Digital Transformation Of Pizzerias
  • Businesses Being Reimagined In A World That Is Now Entirely Digital

    Businesses Being Reimagined In A World That Is Now Entirely Digital

    “There’s a real recognition that digitization and transformation are not doing what you used to do in the physical world,” says Publicis Sapient CEO Nigel Vaz. “Digitizing that and translating that is essentially the journey of going from being a caterpillar to a butterfly. Real transformation. How do you reimagine yourself in the context of a world that now is entirely digital? Customers are thinking very actively about how they actually create products and services that essentially create value for customers entirely digitally.”

    Nigel Vaz, CEO of Publicis Sapient, discusses how the current pandemic has forced organizations to reimagine their businesses digitally. Nigel works closely with clients such as McDonald’s, Nationwide, and Unilever to deliver transformative experiences and business models:

    https://youtu.be/VOKcTLcxHXw
    Businesses Being Reimagined In A World That Is Now Entirely Digital

    Digitization Has Become Existential For Business

    I think Digital has always been important for business. Now more than ever what’s becoming very clear is this has gone from being something that’s important to something that’s existential. How do you support customers to make orders entirely online when your stores are closed? How do you create mashups with other partners to be able to facilitate deliveries when your own deliveries don’t suffice? How do you try to create experiences online through self-service that minimize the impact of people calling your call centers? 

    All of these things are things clients are facing on a regular basis. Most CEOs I’m in conversation with are acknowledging the fact that this has now got to be a priority, that they have to be ready more so than they’ve ever thought before.

    3 Key Things Happening With the Transformation

    There are three things happening here in terms of transformation. The first is the change in human behavior where I think there’s a recognizable shift now. We’re seeing significant accounts of over-70s, for example, ordering from retail and ramping that up. We’re seeing a big shift in institutions like schools and educational institutions, which historically had not thought about transformation as particularly applicable to them. 

    We’re also seeing a shift in industries like leisure looking at creating virtual experiences since physical experiences are essentially restricted and people can’t use them. The human behavior shift is translating to big investments in technology and technology platforms that enable this. 

    Businesses Being Reimagined In A World That Is Now Entirely Digital

    Then lastly, new business models. There’s a real recognition that digitization and transformation are not doing what you used to do in the physical world. Digitizing that and translating that is essentially the journey of going from being a caterpillar to a butterfly. Real transformation. How do you reimagine yourself in the context of a world that now is entirely digital?

    Customers are thinking very actively about how they actually create products and services that essentially create value for customers entirely digitally. There are plenty of examples in this from telemedicine and from the educational space with new courses coming online which can scale faster than traditional courses limited by a classroom and a professor.

    COVID-19 Is Forcing Businesses To Change
  • Zoom Has Transformed Into a Consumer Platform, Says CFO

    Zoom Has Transformed Into a Consumer Platform, Says CFO

    “The (COVID-19 crisis) has really transformed what used to be a business platform primarily used for enterprises to now be used for all kinds of new consumer and small business use cases,” says Zoom CFO Kelly Steckelberg. “I don’t see everybody going back to the way that it was before. I don’t think that everybody that’s working from home today is going to go back to their office necessarily or that these small business owners are going to stop using it in the way that they’ve had.”

    Kelly Steckelberg, Chief Financial Officer of Zoom, discusses how the COVID-19 crisis has transformed Zoom into a consumer platform with a 20-times increase in daily usage:

    Zoom Has Transformed Into a Consumer Platform

    We are proud that we’ve enabled over 90,000 schools in over 25 countries around the globe to use a Zoom. That along with many other use cases that we didn’t contemplate before this such as grandmother’s using Zoom to read bedtime stories to their grandchildren across the country. We are also seeing small businesses using it now to do tutoring or give yoga lessons. It has really transformed what used to be a business platform primarily used for enterprises to now be used for all kinds of new consumer and small business use cases.

    That has caused a 20-times increase in our daily participants from just December through March. Yes, with that has come new opportunities and challenges as well including opportunities to educate and enable our users in a very different way than we needed to before. Coming into this pandemic and seeing the increase in demand we have been very focused on ensuring that the platform is stable and reliable and available for everybody who needs it. 

    When we had our earnings call on March 4th we did talk about this that we already had started to see the rise in demand. While I’m not confirming guidance today, we did indicate then that we expected to see an increase in our cost of goods sold that would have an impact on our gross margins. That is consistent with what we’ve continued to see. 

    I Don’t See Everybody Going Back To The Way It Was

    In terms of what does this mean going forward and are we trying to convert some of these users, we have a freemium version of our product that many of these new users are using today. We are really focused on ensuring that everybody and anybody who needs Zoom or has a use for it today can get access to it. We really want to focus on minimizing the disruption and communication during this difficult time for everyone. 

    It’s too early to tell what comes next. Ideally, in a few months, we’re all back to a more normal state. I don’t see everybody going back to the way that it was before. I don’t think that everybody that’s working from home today is going to go back to their office necessarily or that these small business owners are going to stop using it in the way that they’ve had. So we’ll just see what that brings. it’s really too early to tell today.

    Zoom Has Transformed Into a Consumer Platform, Says Zoom CFO Kelly Steckelberg
  • Yelp: 61% Of Restaurant Closures Permanent

    Yelp: 61% Of Restaurant Closures Permanent

    By far, the hardest hit segment of the economy impacted by the forced government closures mandated by various state governor executive orders over the last six months has been restaurants. According to a Yelp COVID Impact Report, 61 percent of restaurants closed during the pandemic will never reopen. Remember, these are businesses that never should have closed in the first place considering that Walmart, Target, Kroger, and hundreds of so-called ‘essential’ businesses remained open.

    The obvious question that the media seems oblivious to is if social distancing and preventive measures could be implemented in the busiest of all retail establishments like Walmart, then why on earth couldn’t they have been implemented at restaurants, small businesses, and other chain stores also? In fact, they are being implemented now, months later, which proves that just like Walmart they could have been implemented six months earlier and saved thousands of businesses and jobs.

    “The restaurant industry continues to be among the most impacted with an increasing number of closures – totaling 32,109 closures as of August 31, with 19,590 of these business closures indicated to be permanent (61%). Breakfast and brunch restaurants, burger joints, sandwich shops, dessert places and Mexican restaurants are among the types of restaurants with the highest rate of business closures. Foods that work well for delivery and takeout have been able to keep their closure rates lower than others, including pizza places, delis, food trucks, bakeries and coffee shops.

    Yelp: Local Economic Impact Report – September 2020

    Yelp says that a total of 163, 735 business on Yelp have closed since the pandemic closure mandates and reopening restrictions started. Yelp focuses on restaurants, services businesses, and retail, many of which are locally owned and family-owned establishments. As one would expect, the mandates hurt these businesses very badly. In fact, according to the study, over 60 percent of all businesses that closed will never reopen. That equates to 97,966 businesses closed for good.

    The last Yelp Economic Average showed a decreasing number of overall closures, 132,580 in total. As of August 31, 163,735 total U.S. businesses on Yelp have closed since the beginning of the pandemic (observed as March 1), a 23% increase since July 10. In the wake of COVID-19 cases increasing and local restrictions continuing to change in many states we’re seeing both permanent and temporary closures rise across the nation, with 60% of those closed businesses not reopening (97,966 permanently closed).

    Yelp: Local Economic Impact Report – September 2020
    Yelp: Local Economic Impact Report – September 2020

    According to the Yelp report, Hawaii, California, and Nevada have the highest rate of total closures and permanent closures. They are also the three states with the highest unemployment rates. The states with the least business restrictions, West Virginia and the Dakotas, not so coincidentally, also have the lowest closure rates. The cities with the highest number of permanent business closures also tend to be in areas where the government has been the harshest on businesses imposing full closures for the longest periods and only allowing partial reopenings. The top five states with the most businesses closed are Los Angeles, New York, San Francisco, Chicago, and Dallas.

    Yelp: Local Economic Impact Report – September 2020
  • Amazon Now Playing Podcasts

    Amazon Now Playing Podcasts

    Amazon has entered the super hot podcasting arena, adding podcasts to their Amazon Music platform. All podcasts will, of course, be able to be accessed via Alexa, through its voice-activated Echo speakers, and are free to Amazon Prime members. Check the podcasts out here: Amazon Podcasts

    “Our customers’ listening habits are constantly evolving, and we know they’re looking to us to provide them with a rich experience rooted in music and entertainment,” said Steve Boom, VP of Amazon Music. “With this launch, we’re bringing customers even more forms of entertainment to enjoy, while enabling creators to reach new audiences globally, just as we’ve done with music streaming. Podcasts, paired with our recent partnership with Twitch to bring live streaming into the app, makes Amazon Music a premiere destination for creators.”

    Popular shows such as Crime Junkie, What A Day, Radiolab, Revisionist History, Planet Money, Ear Hustle, Why Won’t You Date Me? with Nicole Byer, and Stuff You Should Know are available now, and millions of episodes from top shows, with more being added all the time. Amazon Music will also soon be the exclusive home of the music-meets-true-crime podcast, Disgraceland, a show exploring the criminal antics and connections of some of the world’s favorite musicians, from the Rolling Stones to Tupac. Disgraceland’s narrative storytelling highlights tales of getting away with murder and behaving badly, chronicling some of the craziest criminal stories surrounding some of the most interesting and infamous pop stars. Disgraceland will arrive exclusively on Amazon Music in February 2021.

    “Partnering with Amazon Music allows me to really give my listeners what they’ve always asked for: more Disgraceland content,” said Jake Brennan, host of Disgraceland and cofounder at Double Elvis Productions. “Through this partnership with Amazon Music, we’re enhancing the future of the show for fans, expanding our output of content by moving to an ‘always on’ weekly schedule, which will translate to more episodes for listeners on a more consistent basis.”

    Amazon Music has also partnered with creators to produce original, exclusive podcasts. Coming soon, customers will be able to listen to “The First One,” a new audio experience hosted by one of the most prolific hit makers of the 21st century, DJ Khaled. Developed by Amazon Music and the Springhill Company, in “The First One” the mogul and superstar will interview his all-time favorite artists about the hits that made them iconic and eventually legendary.

    “I’m recording my podcast with the greatest musicians of all time, and with some of my best friends who also happen to be the most iconic artists on the planet,” said DJ Khaled. “We’ll talk about fame, fortune, life, and success. These stories are here to motivate you because everybody starts from somewhere, from the ordinary to extraordinary. Before you get to another one, you got to get to ‘The First One,’ only on Amazon Music.”

    Also coming to Amazon Music is a brand-new multimedia podcast hosted and curated by superstar Becky G, featuring audio and corresponding video broadcast on Amazon Music’s Twitch Channel. Titled “En la Sala,” every week, you’re invited to join Becky G as she calls on some of the biggest names in music and entertainment, her familia and friends, to discuss Latinx pride, women empowerment, LGBTQ+ rights, relationships, politics and sports, all while unpacking the most important issues facing the Latinx community today. Developed by Amazon Music and Gema Productions, Becky G has also dedicated each episode to a nonprofit organization related to the theme of the week. With a charitable donation attached to each episode to pay it forward to organizations directly impacting the Latinx community in a positive way, Becky sets the standard for her guests and listeners, since En La Sala, you can’t just talk about it – you have to be about it too.

    “To me, my voice has always been about more than just singing, it’s using it for the greater good and creating a destination for change,” said Becky G. “In quarantine, with so much time to consider the world around us, it felt like the perfect opportunity to open a new line of communication and pay it forward, and I’m so thankful that Amazon Music and Gema approached me with the opportunity to create this podcast. I’m excited to be joining forces with Amazon Music so we can start to have conversations about looking within to see how we can all be better.”

    Broadcasting legend Dan Patrick and IMDb will soon give movie fanatics exclusive interviews with top Hollywood stars in his new show, “That Scene with Dan Patrick.” Produced in collaboration with IMDb, this new podcast will dissect memorable scenes from some of the biggest films and television series. And coming soon to Amazon Music and Audible, is a project from Jada Pinkett Smith and Will Smith’s Westbrook Audio, a co-production with Audible.

    With Amazon Music visual apps on mobile and web, customers will be able to discover new favorites through curated recommendations across top categories, popular podcasts charts, and access to trailers on show pages. Whether listening on mobile, web, or on Echo devices with Alexa, Amazon Music makes it easy for customers to find, start, and continue listening to their favorite podcasts throughout the day. Only with Amazon Music can customers ask for the latest episode of their favorite show on Echo Auto during their morning commute, resume playback on their phone while working out, and seamlessly move to their Echo device when getting home – just by asking Alexa, with no additional sign in or device linking needed.

    “We’re thrilled to offer customers a convenient podcast listening experience that fits their lifestyle,” said Kintan Brahmbhatt, Director of Podcasts for Amazon Music. “Never before has listening to podcasts on the move, in the car, or at home been so simple. Our customers will be able to utilize the voice functionality they know and love with music, to now enjoy a superior podcast experience and uncover a brand-new selection of favorites.”

    Podcasts are now available to stream on all tiers of Amazon Music at no additional cost, including free access on Echo, web, and in the Amazon Music mobile app.

  • TikTok Oracle Deal Approval Imminent

    TikTok Oracle Deal Approval Imminent

    The Financial Times reports that under Oracle’s proposal currently under review by various entities within the US government including Treasury and Homeland Security, TikTok is set to become a standalone US company to satisfy White House conditions. The agreement would keep ByteDance as majority shareholding, with Oracle holding a minority stake. This condition would seem to be at odds with Trump’s mandate for TikTok to become an American owned company to satisfy the terms of his executive order designed to protect the privacy and security of the American public.

    However, President Trump told reporters today that he heard that Oracle and TikTok are “very close to a deal.” He said that a decision on the pending deal will be made “pretty soon.” He noted that he has “high respect” Oracle Chairman Larry Ellison. Ellison is a well-known supporter of President Trump. The trust that the President has with Ellison is likely key to making this deal happen.

    CNBC’s Jim Cramer who has both tech world sources and is friends with Treasury Secretary Steve Mnuchin said this today:

    I think there’s a deal as soon as today. I think that the review is almost complete. They like Oracle. They don’t feel that Oracle has any ties (to China). I think that they are going to get all of TikTok worldwide. They are going to hire 25,000 people in America. Apparently Secretary Mnuchin is very happy about the security concerns. Oracle CEO Safra Catz is saying we are ready. We have a gigantic cloud presence and we are already doing a lot in advertising. This is going to be today or maybe tomorrow.

    There are 55 million users at 79 minutes a day and there are 100 million users per month. It is a prize asset. The reason why the deal is going to be done is because Oracle is a trusted company in the White House. It’s not going to be that Oracle owns it. It is going to be owned by these PE firms, some of it Oracle, and that’s why I think the deal is going to be approved.

    The Wall Street Journal tonight is reporting that the deal may actually include a piece of the TikTok globally as well:

    China’s ByteDance Ltd. would retain a majority ownership stake in its TikTok app as part of a proposal to be reviewed by national-security regulators on Tuesday with an eye toward settling the high-profile deal by a deadline Sunday, according to a person familiar with the situation.

    The proposal includes Oracle Corp. ’s bid to become TikTok’s U.S. technology partner as part of an effort to address the administration’s national-security concerns surrounding the Chinese-owned video-sharing app.

    Source: Wall Street Journal

    “We just got this proposal over the weekend it would be inappropriate for me to comment on it,” said Treasury Secretary Steve Mnuchin yesterday in an impromptu press gathering this afternoon. “It’s going to go through a national security review in the next couple of days and then we’ll be sitting down and reviewing it with the President. But as we’ve said before a condition of any deal is to make sure that we believe that the code is safe, that U.S .citizens personal data is safe, and that the phones are safe. We have a lot of confidence in Oracle so we’ll be reviewing the technical issues with them.”

  • Taboola – Outbrain Merger Falls Apart

    Taboola – Outbrain Merger Falls Apart

    It was a merger that started out nearly a year ago as a perfect idea and was even approved by the U.S. government. In the end, it turned into a perfect storm because of the ad industry upheaval caused by the coronavirus and subsequent business closures followed by massive unemployment and fewer clicks on ads. Ad prices then dropped dramatically which changed the value proposition for both Outbrain and Taboola.

    The world’s two leading companies in the discovery & native advertising industry will remain fierce competitors in what still is a chaotic and unpredictable ad market.

    “As part of the process we exchanged financial information with each other,” says Taboola Founder & CEO Adam Singolda in a blog post. “Based on the relative performance of the two companies, we decided the original deal does not make sense anymore. We could choose to pay the same price of 30% in equity + $250M, but our shareholders thought it’s too much for what we would get based on the relative contribution of the two companies. Nothing emotional, not about culture fit, just data.”

    “Out of deep respect, we tried to do a deal that was equity only (but less equity), or equity and cash (but less cash) that matched Outbrain’s financial contribution to Taboola. We failed, and we called it off.”

    Outbrain Co-Founder and CEO Yaron Galai expressed his own thoughts on the collapse of the merger:

    “It is now public news that Outbrain’s planned merger with Taboola is heading to termination in the near future. This isn’t the outcome any of us anticipated for this process. We believed when entering this deal that there is great potential value to be had for our employees, our marketers and publisher partners, and our shareholders. However, this combination apparently was simply not meant to be. We worked hard to mix water and oil, but ultimately the companies proved to be too different to be mixed.” 

    “During a very stormy year for the Outbrain team, due to both the pandemic and the cloud of the merger, Outbrain’s character as the #1 most trusted partner for the world’s best publishers has shone through very brightly. We’re excited to continue innovating and building the best native advertising products for publishers and marketers as an independent company for many years to come.”