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Starting April 15, Apple retail outlets will be moving away from their well-liked plastic drawstring bags to new paper bags made out of 80 percent recycled materials, according to a note sent to retail employees. The note also instructs employees to give out the old bags until they're all gone and to ask customers if they want a bag or not, in order to potentially further cut down on waste.
Apple VP of environment, policy, and social initiatives Lisa Jackson last month discussed environmental efforts at the company's press event, noting 93 percent of its operations around the globe are powered by renewable energy, and that its new robot 'Liam' can disassemble iPhones for recycling. As well, Jackson declared all of Apple's packaging would eventually be paper.
After stating his new album The Life of Pablo would be exclusive to Jay-Z's Tidal service, Kanye West has changed his mind and signed contracts with Spotify and Apple Music. The album is available on both services now.
Just earlier today it was reported Jay-Z has sued the original owners of Tidal for misrepresenting subscriber figures. Between that and the news with West, this hasn't been the smoothest of his business ventures. We've reached out for comment from him and will update this story should we hear back.
Tidal current sits at 3 million subscribers, good for 27 million behind Spotify and 8 million behind Apple Music.
While Warner Bros. might not be enjoying the best critical reception to Batman v Superman: Dawn of Justice, the movie has just smashed through the $500 million barrier - only five days after its release.
Batman v Superman pulled in $12.2 million on Tuesday domestically, taking in another $20.7 million overseas. This kicks the global total of BvS to $501.9 million, thanks to it opening in virtually every major foreign territory, including China - the world's second-largest market for movies.
Have you seen Batman v Superman: Dawn of Justice yet? What did you think?
Netflix has some of the best TV shows around, with original series like House of Cards and Orange is the New Black - but did you know their original content creation has increased by 185% per year? That's impressive.
According to data published by AllFlicks, which has mined Netflix's online catalog and cross referenced it with Wikipedia's list of Netflix original programming - Cordcutting.com created a chart that shows the sharp rise in original content from Netflix. From Q1 2012 to Q2 2016, Netflix added 111 original series and films, an impressive feat to say the least.
We see a quarterly growth rate of 34.22%, and an average annual growth rate of an astonishing 185.41%. The future growth rate should be higher, with Netflix announcing it will spend a huge $6 billion on original content in 2016 alone.
Smart home company Nest hasn't been doing well. Last year, it brought in about $340 million in revenue, according to three sources familiar with the matter. It's no small figure, but it's still below expectations, keeping in mind Google purchased the company for $3.2 billion in 2014, and that its initial budget was said to be $500 million annually.
This puts Nest in a difficult position, as its allocated budget is said to expire at the end of 2016. Whatever happens, it will be known before long whether now-parent company Alphabet chooses to soldier on or part ways.
As for why the company has struggled, some might say the high price tag is difficult to justify (Nest's thermostat is $250, and most home want more than one).
Well... the fight between Spotify, Google and Apple just heated up with Spotify raising a huge $1 billion - but not from the usual investors and funding methods. It has borrowed $1 billion in convertible debt from TPG, Dragoneer, and clients of Goldman Sachs.
Why is raising debt different than equity? Well, as TechCrunch reports that by "raising debt rather than equity, it doesn't have to worry about poor signaling from a down-round raised at a lower valuation than the $8.5 billion it set in June 2015". Spotify has confirmed the news, with TPG telling TechCrunch: "This financing gives them the strategic resources to further strengthen their leadership position", and that the money will be pumped into growth and marketing.
But what happens if Spotify doesn't do well over the next year or two? Well, this is an aggressive deal with some razor sharp terms - with TPG and Dragoneer to convert the debt to equity at a 20% discount, or whatever share price Spotify sets for its eventual IPO. If the IPO doesn't arrive within the next 12 months, this discount increases by 2.5% every 6 months. Spotify will also have to cough up 5% annual interest on the debt, and 1% more every 6 months up to a total of 10%. Yeah, it's not good at all.
The long-running lawsuit between Oracle and Google over the latter's use of Java in Android just got spicier: Oracle is seeking up to $9.3 billion in damages according to recent court filings. Lawsuit damages aren't typically a worry for the ever-rich Google, but an amount this high is plenty enough to worry even the search giant, which made $4.9 billion in profits last quarter.
The suit began in 2010 and went to trial two years later, where the jury was divided on whether Google was protected under fair use laws. A new trial is set for May 9 with a pre-trial scheduled for April 27; Oracle's Larry Ellison and Google's Eric Schmidt will take the stand, among other faces.
The new figure is about 10 times the original amount Oracle asked for, a reflection of Android's growth and subsequent releases. Google has hired a damages expert, presumably to push the figure way down. While its counter-offer isn't public, another filing indicates at least a portion of the damages are capped at $100 million. With a disparity this large, it's plausible the jury will settle somewhere in the middle (around $4.6 billion in this case, or one quarter's worth of profits for Google as opposed to two).
We know that Yahoo is in trouble and has decided to sell off its core business (seach, mail, and news sites); what we didn't know was Microsoft is allegedly in talks to be a contributor in the acquisition. Someone familiar with the matter relayed as much to Reuters, and added Microsoft wants to preserve the relationship between the two parties, which have long-running search and advertising agreements. It's also said Yahoo approached Microsoft.
Microsoft declined to comment on the reports.
As it stands, Verizon and Time Inc. (which published People and Time) are the other two companies known to be interested in acquiring Yahoo's core business.
Microsoft's CEO at the time Steve Ballmer attempted to acquire Yahoo in 2008 for $45 billion (the same as its total asset worth now).
Pebble isn't having a good time right now, with the indie smartwatch maker having issues - so much so that Pebble CEO Eric Migicovsky told Tech Insider it is cutting 25% of its workforce - or 40 people, this week.
The company has said that money is "pretty tight" right now, with the tap slowly being tightened by Silicon Valley venture capitalists. The company has raised $26 million over the last eight months, but the cash isn't flowing quick enough. Migiovsky reiterated that Pebble is here for the long-term, and they have an idea of where wearable technology is headed in the coming 5-10 years.
By early 2015, Pebble had sold over 1 million smartwatches, the month before the company launched its new Time watches - and just before the big Watch unveiling by Apple. Pebble has to convince both consumers and potential investors that it can not only survive in a now much more crowded smartwatch market, but beat the likes of Apple at its own game.
There's a lot more money to be made from Linux and open-source software than you probably realized: Red Hat just became the first open-source company to make $2 billion. This isn't the first time it's set a record, either: four years ago it became the first Linux company to make $1 billion. All this without relying on venture capitalists, no less.
Red Hat president and CEO Jim Whitehurst says "enterprises increasingly adopting hybrid cloud infrastructures and open source technologies" are largely responsible for the big numbers. In hard terms, Red Hat Enterprise Linux and cloud operating system RHEL are doing better than ever subscription-wise.
The company expects to make between $2.38 and $2.42 billion in the 2016 fiscal year; if this keeps up, they'll set another record in short order.