Connect with us

Delhi

House panel to publicly release Russia Facebook ads | Reuters

This story has not been edited by Firstpost staff and is generated by auto-feed.

Published Date: Oct 12, 2017 04:00 am | Updated Date: Oct 12, 2017 04:00 am

Continue Reading
Click to comment

Leave a Reply

BitTorrent

ICOs are becoming funds

What does a startup do with $48 million? $130 million? $1.7 billion? This question – one integral in the whole ICO craze – hasn’t quite been answered yet but it’s going to be far more interesting as ICOs and cryptocurrencies transform from purely product-oriented companies into actual funds.

Take the news that the creator of the TRON token bought BitTorrent for $140 million purportedly to lend legitimacy to the platform. “One shareholder we spoke to says there are two plans,” wrote TechCrunch’s Ingrid Lunden. “First, it will be used to ‘legitimize’ Tron’s business, which has met with some controversy: it has been accused of plagiarizing FileCoin and Ethereum in the development of its technology. And second, as a potential network to help mine coins, using BitTorrent’s P2P architecture and wide network of users.”

Given a $4.8 billion market cap, the cost of buying a beloved network brand, even one as tainted by controversy as BitTorrent, is miniscule. Further, it allows TRON to fill its war chest with solid businesses even as its own efforts end laughably with ham-handed announcements about non-existent partnerships and failed pumping by the idiosyncratic John McAfee.

In short, all of those massive ICO raises aren’t going to Aeron chairs and food truck rodeos in the company parking lot. Those smart enough to machinate their way into an ICO raise aren’t interested in product, no matter what they claim. They are interested in becoming investors, gobbling up products and people in order to gain a stranglehold on the space. Further, these ICOed organizations are often already registered as broker-dealers in various jurisdictions and have all of the legalities in place to take and invest large sums of cash. In short, if you think any successful ICOed company will deliver actual product before it would buy itself into multiple iterations of that same product I have a few tokens to sell you.

Startups start small for a reason. None of the current crop of successful ICOs have any technical merits, no matter how dense their white papers. While PhDs and computer scientists have great ideas, ultimately their ideas fail when dashed against the realities of the market. Most startups die because they are underfunded but they are underfunded because the risk associated with their ideas are far too high to ensure a win.

ICOs on the other hand are wild bets that a person who is connected to the crypto space will know better what to do with unearned crypto riches than the owners of those riches. It is a bet that the ICOing org is willing to work a little harder to make 10,000 Ether or a few hundred Bitcoin pay off in the long run and it’s a bet that the congregation of all that crypto wealth will bring the true sharks out to help turn a small investment into a big one. And you never get rich releasing a single product. You get rich buying and controlling multiple products.

The other important consideration? VCs will soon find themselves fighting for deals with ICOed companies. While it won’t happen soon and perhaps the big houses won’t feel it at all, expect smaller VCs to lose LPs as those LPs dump their cash into Maltese ICOs and not Sand Hill Road. It’s an interesting and overdue turnaround.

So don’t expect these ICOed companies to invest in fancy offices and ping pong tables (although they will.) If you’re a startup founder expected these ICOed companies to invest in you.

News Source = techcrunch.com

Continue Reading

Apps

Facebook launches gameshows platform with interactive video

Rather than build its own HQ trivia competitor, Facebook is launching a gameshow platform. Today the company announced a new set of interactive live and on-demand video features that let creators adds quizzes, polls, challenges, and gamification so players can be eliminated from a game for a wrong answer. The features could help Facebook achieve its new mission to push healthier active video consumption rather than passive zombie watching that hurts people’s well-being. Creators and publishers who want early access can sign up here.

Gameshow launch partners include Fresno’s What’s In The Box where viewers guess what’s inside, and BuzzFeed News’ Outside Your Bubble where contestants have to guess what their opponents are thinking. Plus, Facebook is testing the ability to award prize money with (Business) INSIDER’s Confetti, where viewers answer trivia questions and can see friends’ responses, with winners splitting the cash.

“Video is evolving away from just passive consumption to more interactive two-way formats”, Simo tells TechCrunch. “We think creators will want to reward people. If this is something that works will with Insider and Confetti, we may consider rolling out payments tools.”

When asked if Facebook was inspired by HQ, Simo repeatedly dodged the question and avoiding mentioning the startup’s name, but relented in saying “I think they’re part of a much broader trend that is making content interactive. We’ve seen that across much more than one player.”

Facebook won’t be taking a share of the prize money in this test. For now, it’s also forgoing its cut of its $4.99 per month subscriptions option that lets fans pay for exclusive content, which rolls out today to more creators. Facebook also just launched its Brand Collabs Manager that we scooped in May, which helps brands browse creators by demographic and portfolio so they can set up sponsored content and product placement deals.

Initially Facebook is not taking a cut there either. For all three of these features, though, Simo says “that doesn’t mean we never will.” Creators can sign up for these monetization options here.

The new interactive video features will be available to all publishers and creators, alongside the global launch of the Android version of Facebook’s Creator app for web celebs. The tools range from offering basic in-video polls to creating a full trivia gameshow. Creators and will be able to write out their trivia questions and designate correct answers, as well as “write down the logic of the game” says Simo.

While polls will work for Live and on-demand videos, gamification that impacts the outcome of the broadcast is only for Live. Brent Rivera and That Chick Angel are two creators who will be testing the features in the coming weeks. Facebook already found that fans enjoyed polling on its Watch show Help Us Get Married, which let viewers influence the wedding planning decisions about themes and the venue.

Facebook’s last attempt at original video, its Watch hub, saw mediocre adoption as the content felt also-ran rather than something special or must-see. That’s why Facebook is expanding Watch to offer a broader range of shows for more creators, including potentially longer or non-episodic content. That includes bringing Facebook videos originally only hosted on Pages into the Watch destination.

Facebook’s family of apps will get another chance at an original video home run when Instagram launches its long-form video hub tomorrow, according to TechCrunch’s sources.

What we’re seeing here is positioning that diverges Facebook and Instagram’s video efforts. Facebook’s might be more interactive, about playing and watching with friends, and embrace more novel new formats like mobile gameshows. Instagram, with its history of polished photos, could house more traditional high-end entertainment content.

“We’re not trying to do one show or one trivia game. We’re trying to get every creator to create such gameplay. The beauty of the creators space is that they each have a unique audience” Facebook’s VP of video product Fidji Simo tells me. With 2.2 billion users, making an in-house one-size-fits-all game may have been impossible.

News Source = techcrunch.com

Continue Reading

Delhi

Pew: Social media still growing in emerging markets but stalled elsewhere

Facebook founder Mark Zuckerberg’s (so far) five-year project to expand access to the Internet in emerging markets makes plenty of business sense when you look at the latest report by the Pew Research Center — which shows social media use has plateaued across developed markets but continues to rise in the developing world.

In 2015-16, roughly four-in-ten adults across the emerging nations surveyed by Pew said they used social networking sites, and as of 2017, a majority (53%) use social media. Whereas, over the same period, social media use has generally been flat in many of the advanced economies surveyed.

Internet use and smartphone ownership have also stayed level in developed markets over the same period vs rising in emerging economies.

Pew polled more than 40,000 respondents in 37 countries over a roughly three month period in February to May last year for this piece of research.

The results show how developing markets are of clear and vital importance for social behemoth Facebook as a means to eke continued growth out of its primary ~15-year-old platform — plus also for the wider suite of social products it’s acquired around that. (Pew’s research asked people about multiple different social media sites, with suggested examples being country-specific — though Facebook and Twitter were staples.)

Especially — as Pew also found — of those who use the internet, people in developing countries often turn out to be more likely than their counterparts in advanced economies to network via social platforms such as Facebook (and Twitter) .

Which in turn suggests there are major upsides for social platforms getting into an emerging Internet economy early enough to establish themselves as a go-to networking service.

This dynamic doubtless explains why Facebook has been so leaden in its response to some very stark risks attached to how its social products accelerate the spread and consumption of misinformation in some developing countries, such as Myanmar and India.

Pulling the plug on its social products in emerging markets essentially means pulling the plug on business growth.

Though, in the face of rising political risk attached to Facebook’s own business and growing controversies attached to various products it offers, the company has reportedly rowed back from offering its ‘Free Basics’ Internet.org package in more than half a dozen countries in recent months, according to analysis by The Outline.

In March, for example, the UN warned that Facebook’s platform was contributing to the spread of hate speech and ethnic violence in crisis-hit Myanmar.

The company has also faced specific questions from US and EU lawmakers about its activities in the country — with scrutiny on the company dialed up to 11 after a major global privacy scandal that broke this spring.

And, in recent months, Facebook policy staffers have had to spend substantial quantities of man-hours penning multi-page explanations for all sorts of aspects of the company’s operations to try to appease angry politicians. So it looks pretty safe to conclude that the days of Facebook being able to pass off Internet.org-fueled business expansion as a ‘humanitarian mission’ are well and truly done.

(Its new ‘humanitarian project’ is a new matchmaking feature — which really looks like an attempt to rekindle stalled growth in mature markets.)

Given how the social media usage gap is closing between developed vs developing countries’ there’s also perhaps a question mark over how much longer Facebook can generally rely on tapping emerging markets to pump its business growth.

Although Pew’s survey highlights some pretty major variations in usage even across developed markets, with social media being hugely popular in Northern America and the Middle East, for example, but more of a patchwork story in Europe where usage is “far from ubiquitous” — such as in Germany where 87% of people use the internet but less than half say they use social media.

Cultural barriers to social media addiction are perhaps rather harder for a multinational giant to defeat than infrastructure challenges or even economic barriers (though Facebook does not appear to be giving up on that front either).

Outside Europe, nations with still major growth potential on the social media front include India, Indonesia and nations in sub-Saharan Africa, according to the Pew research. And Internet access remains a major barrier to social growth in many of these markets.

“Across the 39 countries [surveyed], a median of 75% say they either use the internet occasionally or own a smartphone, our definition of internet use,” it writes. “In many advanced economies, nine-in-ten or more use the internet, led by South Korea (96%). Greece (66%) is the only advanced economy surveyed where fewer than seven-in-ten report using the internet. Conversely, internet use is below seven-in-ten in 13 of the 22 emerging and developing economies surveyed. Among these countries, it is lowest in India and Tanzania, at a quarter of the adult population. Regionally, internet use is lowest in sub-Saharan Africa, where a median of 41% across six countries use the internet. South Africa (59%) is the only country in the region where at least half the population is online.”

India, Indonesia and sub-Saharan Africa are also regions where Facebook has pushed its controversial Internet.org ‘free web’ initiative. Although India banned zero-rated mobile services in 2016 on net neutrality grounds. And Facebook now appears to be at least partially rowing back on this front itself in other markets.

In parallel, the company has also been working on a more moonshot-y solar-powered high altitude drone engineering to try to bring Internet access (and thus social media access) to remoter areas that lack a reliable Internet connection. Although this project remains experimental — and has yet to deliver any commercial services.

Pew’s research also found various digital divides persisting within the surveyed countries, related to age, education, income and in some cases gender still differentiating who uses the Internet and who does not; and who is active on social media and who is inactive.

Across the globe, for example, it found younger adults are much more likely to report using social media than their older counterparts.

While in some emerging and developing countries, men are much more likely to use social media  than women — in Tunisia, for example, 49% of men use social networking sites, compared with just 28% of women. Yet in advanced countries, it found social networking is often more popular among women.

Pew also found significant differences in social media use across other demographic groups: Those with higher levels of education and those with higher incomes were found to be more likely to use social network sites.

News Source = techcrunch.com

Continue Reading

Most Shared Posts

Follow on Twitter

Trending