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Toy Fair 2019: Power Rangers Lightning Collection adds Lord Zedd and more – CNET

Exclusive: The Mighty Morphin villain is among several Power Rangers icons coming to Hasbro’s Lightning Collection.
Source: CNET

US needs an internet data privacy law, GAO tells Congress – CNET

Chief auditor cites Facebook’s Cambridge Analytica data scandal as an example of why a privacy law is necessary.
Source: CNET

How to read fiction to build a startup

“The book itself is a curious artefact, not showy in its technology but complex and extremely efficient: a really neat little device, compact, often very pleasant to look at and handle, that can last decades, even centuries. It doesn’t have to be plugged in, activated, or performed by a machine; all it needs is light, a human eye, and a human mind. It is not one of a kind, and it is not ephemeral. It lasts. It is reliable. If a book told you something when you were 15, it will tell it to you again when you’re 50, though you may understand it so differently that it seems you’re reading a whole new book.”—Ursula K. Le Guin

Every year, Bill Gates goes off-grid, leaves friends and family behind, and spends two weeks holed up in a cabin reading books. His annual reading list rivals Oprah’s Book Club as a publishing kingmaker. Not to be outdone, Mark Zuckerberg shared a reading recommendation every two weeks for a year, dubbing 2015 his “Year of Books.” Susan Wojcicki, CEO of YouTube, joined the board of Room to Read when she realized how books like The Evolution of Calpurnia Tate were inspiring girls to pursue careers in science and technology. Many a biotech entrepreneur treasures a dog-eared copy of Daniel Suarez’s Change Agent, which extrapolates the future of CRISPR. Noah Yuval Harari’s sweeping account of world history, Sapiens, is de rigueur for Silicon Valley nightstands.

This obsession with literature isn’t limited to founders. Investors are just as avid bookworms. “Reading was my first love,” says AngelList’s Naval Ravikant. “There is always a book to capture the imagination.” Ravikant reads dozens of books at a time, dipping in and out of each one nonlinearly. When asked about his preternatural instincts, Lux Capital’s Josh Wolfe advised investors to “read voraciously and connect dots.” Foundry Group’s Brad Feld has reviewed 1,197 books on Goodreads and especially loves science fiction novels that “make the step function leaps in imagination that represent the coming dislocation from our current reality.”

This begs a fascinating question: Why do the people building the future spend so much of their scarcest resource — time — reading books?

Image by NiseriN via Getty Images. Reading time approximately 14 minutes.

Don’t Predict, Reframe

Do innovators read in order to mine literature for ideas? The Kindle was built to the specs of a science fictional children’s storybook featured in Neal Stephenson’s novel The Diamond Age, in fact, the Kindle project team was originally codenamed “Fiona” after the novel’s protagonist. Jeff Bezos later hired Stephenson as the first employee at his space startup Blue Origin. But this literary prototyping is the exception that proves the rule. To understand the extent of the feedback loop between books and technology, it’s necessary to attack the subject from a less direct angle.

David Mitchell’s Cloud Atlas is full of indirect angles that all manage to reveal deeper truths. It’s a mind-bending novel that follows six different characters through an intricate web of interconnected stories spanning three centuries. The book is a feat of pure M.C. Escher-esque imagination, featuring a structure as creative and compelling as its content. Mitchell takes the reader on a journey ranging from the 19th century South Pacific to a far-future Korean corpocracy and challenges the reader to rethink the very idea of civilization along the way. “Power, time, gravity, love,” writes Mitchell. “The forces that really kick ass are all invisible.”

The technological incarnations of these invisible forces are precisely what Kevin Kelly seeks to catalog in The Inevitable. Kelly is an enthusiastic observer of the impact of technology on the human condition. He was a co-founder of Wired, and the insights explored in his book are deep, provocative, and wide-ranging. In his own words, “When answers become cheap, good questions become more difficult and therefore more valuable.” The Inevitable raises many important questions that will shape the next few decades, not least of which concern the impacts of AI:

“Over the past 60 years, as mechanical processes have replicated behaviors and talents we thought were unique to humans, we’ve had to change our minds about what sets us apart. As we invent more species of AI, we will be forced to surrender more of what is supposedly unique about humans. Each step of surrender—we are not the only mind that can play chess, fly a plane, make music, or invent a mathematical law—will be painful and sad. We’ll spend the next three decades—indeed, perhaps the next century—in a permanent identity crisis, continually asking ourselves what humans are good for. If we aren’t unique toolmakers, or artists, or moral ethicists, then what, if anything, makes us special? In the grandest irony of all, the greatest benefit of an everyday, utilitarian AI will not be increased productivity or an economics of abundance or a new way of doing science—although all those will happen. The greatest benefit of the arrival of artificial intelligence is that AIs will help define humanity. We need AIs to tell us who we are.”

It is precisely this kind of an AI-influenced world that Richard Powers describes so powerfully in his extraordinary novel The Overstory:

“Signals swarm through Mimi’s phone. Suppressed updates and smart alerts chime at her. Notifications to flick away. Viral memes and clickable comment wars, millions of unread posts demanding to be ranked. Everyone around her in the park is likewise busy, tapping and swiping, each with a universe in his palm. A massive, crowd-sourced urgency unfolds in Like-Land, and the learners, watching over these humans’ shoulders, noting each time a person clicks, begin to see what it might be: people, vanishing en masse into a replicated paradise.”

Taking this a step further, Virginia Heffernan points out in Magic and Loss that living in a digitally mediated reality impacts our inner lives at least as much as the world we inhabit:

“The Internet suggests immortality—comes just shy of promising it—with its magic. With its readability and persistence of data. With its suggestion of universal connectedness. With its disembodied imagines and sounds. And then, just as suddenly, it stirs grief: the deep feeling that digitization has cost us something very profound. That connectedness is illusory; that we’re all more alone than ever.”

And it is the questionable assumptions underlying such a future that Nick Harkaway enumerates in his existential speculative thriller Gnomon:

“Imagine how safe it would feel to know that no one could ever commit a crime of violence and go unnoticed, ever again. Imagine what it would mean to us to know—know for certain—that the plane or the bus we’re travelling on is properly maintained, that the teacher who looks after our children doesn’t have ugly secrets. All it would cost is our privacy, and to be honest who really cares about that? What secrets would you need to keep from a mathematical construct without a heart? From a card index? Why would it matter? And there couldn’t be any abuse of the system, because the system would be built not to allow it. It’s the pathway we’re taking now, that we’ve been on for a while.” 

Machine learning pioneer, former President of Google China, and leading Chinese venture capitalist Kai-Fu Lee loves reading science fiction in this vein — books that extrapolate AI futures — like Hao Jingfang’s Hugo Award-winning Folding Beijing. Lee’s own book, AI Superpowers, provides a thought-provoking overview of the burgeoning feedback loop between machine learning and geopolitics. As AI becomes more and more powerful, it becomes an instrument of power, and this book outlines what that means for the 21st century world stage:

“Many techno-optimists and historians would argue that productivity gains from new technology almost always produce benefits throughout the economy, creating more jobs and prosperity than before. But not all inventions are created equal. Some changes replace one kind of labor (the calculator), and some disrupt a whole industry (the cotton gin). Then there are technological changes on a grander scale. These don’t merely affect one task or one industry but drive changes across hundreds of them. In the past three centuries, we’ve only really seen three such inventions: the steam engine, electrification, and information technology.”

So what’s different this time? Lee points out that “AI is inherently monopolistic: A company with more data and better algorithms will gain ever more users and data. This self-reinforcing cycle will lead to winner-take-all markets, with one company making massive profits while its rivals languish.” This tendency toward centralization has profound implications for the restructuring of world order:

“The AI revolution will be of the magnitude of the Industrial Revolution—but probably larger and definitely faster. Where the steam engine only took over physical labor, AI can perform both intellectual and physical labor. And where the Industrial Revolution took centuries to spread beyond Europe and the U.S., AI applications are already being adopted simultaneously all across the world.”

Cloud Atlas, The Inevitable, The Overstory, Gnomon, Folding Beijing, and AI Superpowers might appear to predict the future, but in fact they do something far more interesting and useful: reframe the present. They invite us to look at the world from new angles and through fresh eyes. And cultivating “beginner’s mind” is the problem for anyone hoping to build or bet on the future.


Source: TechCrunch

5G Moto Mod gets FCC certification – CNET

Attachment that will make the Moto Z3 the first phone upgradable to 5G speeds.
Source: CNET

Investor momentum builds for construction tech

Although it’s not the sexiest of industries, the hefty construction sector in 2018 attracted not only the attention but, more importantly, the dollars of investors.

Historically, the multi-trillion-dollar sector has been slow to adopt new technologies, as builders rely on a variety of disparate systems to manage projects, traditional building methods to construct homes and non-smart materials.

But a wave of startups is looking to capitalize on opportunities within the sector. Companies that have developed software solutions aimed at streamlining processes and increasing efficiencies are increasingly common. Prefab construction has evolved thanks to innovation in that space, and 3D printing technology can create homes in a matter of days.

Investors are taking notice. Funding in U.S.-based construction technology startups surged by 324 percent, to nearly $3.1 billion in 2018 compared with $731 million in 2017, according to Crunchbase data. While the 2018 numbers are impressive, it’s important to note that a few large rounds did take place last year and thus skewed the results. One startup alone, Menlo Park-based Katerra, brought in $865 million from SoftBank Vision FundRiverPark Ventures and Four Score Capital in a Series D round last January. And, smart glass company View closed a $1.1 billion Series H in November. Also, Procore, a (unicorn) provider of cloud-based construction management applications, in December raised a $75 million Series H round from Tiger Global Management.

Without those two rounds, the construction tech sector saw just $1.135 billion in funding in 2018, up a more modest 55 percent over 2017’s totals.

The industry continues to see M&A activity. Larger software companies are recognizing that it makes more sense to acquire companies in this space rather than try to reinvent the wheel from within. For example, in the fourth quarter of last year, 3D design software provider Autodesk announced plans to acquire two cloud-based software startups in the space: PlanGrid for $875 million and BuildingConnected for $275 million. Publicly traded software developer Trimble in July acquired construction management software startup Viewpoint for $1.2 billion.

Jerry Chen, partner at Greylock Partners, is bullish on the sector and expects 2019 will only see more funding and acquisitions. His firm invested in San Francisco-based Rhumbix, which has raised $28.6 million to grow its mobile platform designed for the construction craft workforce. That company, he says, had a “record year” in terms of customers and users.

“2018 was an inflection point for the construction tech industry,” Chen told Crunchbase News. “Major venture investing and strategic M&A by incumbent players continued… and I think you will see other major enterprise software companies begin to invest more in construction in 2019.”

One construction tech startup founder, Nick Carter of Chicago-based IngeniousIO, believes that despite the big numbers, the industry has a ways to go in terms of true startup growth. Part of that is simply due to one thing: tech founders and some investors are intimidated by the space.

“A lot of people don’t understand it,” he said. “There’s a massive learning curve. Companies have been building buildings the same way for hundreds of years and not everyone understand its complexities.”

The fact that construction is a largely unregulated industry is also a factor, Carter believes.

“Eventually money will flow into the sector because of the pure size of the market,” he told Crunchbase News. “The money is there. There are VCs at every angle wanting to get into this space, but they’re looking for the right opportunities. There just aren’t a ton of startups in the space.”

Construction is also a very cyclical business, and one has to wonder if a potential economic downturn would give investors pause. But to Carter, a downturn would only create more need for products like the one his company is working to build. IngeniousIO’s platform uses artificial intelligence to redefine the process of construction projects by creating what Carter describes as “a unifying, data-driven approach.”

“Tighter budgets are where a company like ours can do very well,” he said. “Companies wouldn’t have the overhead of outdated apps that take a significant amount of support to manage, scale and implement.”

The construction sector may not have the cache of other more Twitter-friendly markets, but it does have the sheer size and potential to provide ripe soil for investors willing to break ground on new opportunities.


Source: TechCrunch

Detective Pikachu trailer reveals creepy Lickitung – CNET

At least Bulbasaur and Growlithe look cute in the short TV spot.
Source: CNET

Visa and Mastercard could raise interchange fees

According to a report from the WSJ, Visa and Mastercard are considering raising interchange fees on card transactions in the U.S. Visa and Mastercard generate most of their revenue from these small processing fees, and it could have implications for merchants and fintech startups.

When you pay with a credit or debit card, merchants pay a small fee to the bank that issued this card. Your bank then pays an even smaller fee to the company that operates the card network.

In most cases, card issuers and card networks are separate companies. For instance, Chase issues a Visa card, Chase gets an interchange fee on every card transaction, and Chase pays a tiny fee to Visa. Some companies also operate a network and issue cards themselves, such as American Express.

The WSJ says that Mastercard and Visa will raise their fees in April — Visa confirmed the change. While fees on each transaction are nearly unnoticeable, they add up quite rapidly. They generate a ton of revenue for Visa and Mastercard, and they represent significant costs for large merchants.

It could become a consumer protection issue as customers often end up paying higher prices because of those fees. While Visa and Mastercard mostly negotiate with financial institutions, those financial institutions still want a cut on interchange fees. That’s why those fees are passed on to the merchants.

Merchants take into account the fact that a large portion of their customers are going to pay with a card. They end up raising prices for everyone, even if you pay using cash, a debit card or a credit card.

Fees on credit cards are generally higher and are the reason why points and rewards exist. Banks attract customers with advantageous reward systems because they want to get your interchange fees. Interchange fees are also much higher in the U.S. than in Europe because there has been more fraudulent activity — the U.S. has switched to chip-and-pin cards years after Europe.

An increase in interchange fees could also affect consumer fintech startups. Many challenger banks have been relying on interchange fees as one of their revenue streams. That’s part of the reason why European fintech startups, such as N26, Monzo and Revolut, have been looking at the U.S. as a potential market. There’s an entire industry built on top of those interchange fees.


Source: TechCrunch

Uber sues NYC to contest cap on drivers

Uber filed a lawsuit against New York City, The Verge reported. The company wants to overturn New York City’s rule that caps the number of new ride-hailing drivers. Last summer, the city approved legislation that halts the issuing of new licenses to drivers for 12 months.

It has been a multi-year fight between Uber and New York City. NYC mayor Bill de Blasio has been in favor of new legislation to regulate ride-hailing companies for years. And the NYC Council finally voted in favor of such a new rule back in August 2018.

Uber has had a strong stance against the new regulatory framework. Before the vote, the company even called loyal customers to ask them to call local council members and support Uber.

There are a few reasons why policymakers have been in favor of the halt. First, taxi medallion holders have been suffering from the sudden market changes caused by Uber, Lyft and other ride-hailing companies. The value of their licenses have dropped significanyly, which created some financial issues for drivers who got a credit to acquire those licenses.

Second, ride-hailing services have fostered congestion across the city. It seems a bit counterintuitive as some Uber users have given up on their personal cars to switch to Uber. But Uber also replaces a lot of other transportation methods, such as subways, buses, bikes, etc.

In addition to that usage pattern switch, many drivers are still driving around New York City, waiting for the next ride. Those idle cars clog the streets.

Third, there are also economical reasons for this change. Uber is a marketplace that matches drivers with riders. The company is leveraging the fact that rules aren’t as strict for ride-hailing drivers as for taxi drivers. This way, Uber can accept a ton of drivers even though demand doesn’t necessarily match. Uber can then leverage this market imbalance to drive down wages.

As part of the vote, New York City has also agreed on a minimum wage for ride-hailing drivers. Eventually, it could lead to an increase in price for customers. But so many customers have turned their back on public transportation that it is now generating too many issues when it comes to infrastructure investments and traffic congesting.

It’s a chicken-and-egg situation. You can’t expect a better subway system if nobody is interested in taking the subway anymore. And you can’t expect customers to rely on the subway if there hasn’t been enough investment to make it reliable.


Source: TechCrunch

TCL is working on a foldable phone that bends into a smartwatch – CNET

It’s one of a family of foldable devices in development with the Chinese company, best known for budget televisions.
Source: CNET

High-end sound gets truly portable with the Woo WA11 headphone amp – CNET

The Woo WA11 Topaz is an amazingly compact, yet truly high-end headphone amplifier.
Source: CNET

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