Business, Financial & Legal News - Page 218

The latest and most important Business, Financial & Legal news - Page 218.

California Bill Will Give Parents Access To Social Networks If Passed

Trak Lord | Mon, May 16 2011 5:19 PM CDT
Senator Ellen Corbett wants to force social network sites such as Facebook to allow parents access to their child's account. Excuse me? I thought I was living in a technology-welcoming, plugged-in liberal utopia here in San Francisco (so liberal in fact, that the public transportation has completely abandoned fascist principles like punctuality and reliability), but evidently I was incorrect.

California Bill Will Give Parents Access To Social Networks If Passed | TweakTown.com


Parents would be able to request that any content be removed from any social network (Twitter, Foursquare, etc) within 48 hours upon his or her request. More importantly, any social network that would fail or refuse to comply with these requests would be fined $10k for each refusal of compliance. This is a clear case of conservative "well-meaning" protection / governmental "nannying" that would have extraordinarily pernicious consequences for both social network sites and the concept of privacy as a whole. It's understandable that parents would want some kind of oversight over their children's public information, but won't this encourage a demographic backlash of secretive and encoded information? If the kids know the parents are "watching", won't they just find new and different forms of communication within that system to maintain their privacy? When I was a young upset, my group of friends most certainly had codewords for behavior or intentions we didn't want to expose publicly to our parents.

Continue reading: California Bill Will Give Parents Access To Social Networks If Passed (full post)

NVIDIA To Acquire Icera For $367 Million

Trak Lord | Mon, May 9 2011 6:58 PM CDT
GPU giant meets Baseband & RF superstar, and $367 Million later an acquisition is born. Everyone at both companies is clearly excited about the deal, but nothing will be set in stone until a conference call held between the two companies Thursday, May 12, at 2:00PM PDT. Anyone at all can listen in to the call to find out more details, just dial 706-679-2572- no password or meeting number required! NVIDIA and Icera will also webcast the call, and you can listen in here and here. More details below in the press release.

NVIDIA To Acquire Icera For $367 Million | TweakTown.com


SANTA CLARA, CA -- (Marketwire) -- 05/09/2011 -- NVIDIA announced today that it has agreed to acquire Icera, a leading innovator of top-performing baseband processors for 3G and 4G cellular phones and tablets.

Icera has more than 550 patents granted or pending worldwide, and its high speed wireless-modem products have been approved by more than 50 carriers across the globe. By combining the companies' products and technologies, including NVIDIA's Tegra processor, NVIDIA will enhance its position as a leading player in the growing mobile market.

The acquisition, for $367 million in cash, has been approved by both companies' boards of directors and is expected to be completed, subject to customary closing conditions, in approximately 30 days.

Continue reading: NVIDIA To Acquire Icera For $367 Million (full post)

YouTube Founders Make Delicious Deal

Trak Lord | Wed, Apr 27 2011 3:23 PM CDT
Chad Hurley and Steve Chen, founders of YouTube have acquired Delicious. Wait what? Didn't Yahoo acquire Delicious back in 2005 for like $10 million? The answer is yes, but evidently Yahoo is selling off its acquisitions.

YouTube Founders Make Delicious Deal | TweakTown.com


Delicious, formerly "del.icio.us" is a social bookmarking site- it allows you to keep track of bookmarks and access them from any computer, thus eliminating the frustration of having to access particular browsers on particular computers. We're not sure about the details of this reacquisition, but it can't an altogether bad thing to be under the auspices of the guys that brought us the most addictive website since.....uh.....ever?

Delcious will continue under Yahoo until July of 2011, and if you're a current user, the transition will be "seamless". Check out their site and/or the press release below for more details.

April 27 2011
YouTube Founders Acquire Delicious

Today, we're pleased to announce that Delicious has been acquired by the founders of YouTube, Chad Hurley and Steve Chen. As creators of the largest online video platform, they have firsthand experience enabling millions of users to share their experiences with the world. They are committed to running and improving Delicious going forward.

Providing a seamless...

Continue reading: YouTube Founders Make Delicious Deal (full post)

Resistance Is Futile: Fraunhofer IPMS Announces Borg Vision, Pleases The Collective

Trak Lord | Thu, Apr 21 2011 12:52 AM CDT
Fraunhofer IPMS announced today a working protoype of the world's first Borg vision. That is, a bidirectional and eye-tracking OLED micro-display. For the layperson, that's transparent screen on which you can see digital content. And it looks like this:

Resistance Is Futile: Fraunhofer IPMS Announces Borg Vision, Pleases The Collective | TweakTown.com


So basically, reflected light that generally assaults your eyes are used to overlay digital information through the eyepiece. Imagine the Monocle function in the Yelp application, but as you are walking around in real-time, without holding your iPhone out in front of you the entire time. Even better, since its an "eye-tracking" piece of hardware, it always knows where you're looking(!), allowing all sorts of interesting uses in the way of photo recognition, facial recognition, natural feature tracking, and social networking.

This bodes very, very well for Augmented Reality development, and if Fraunhofer can make sure this stuff hits industrially before it hits commercially, we'll have all kinds of crazy stuff happening, all in the blink of an eye. Too cheesy? Press release to follow.

Continue reading: Resistance Is Futile: Fraunhofer IPMS Announces Borg Vision, Pleases The Collective (full post)

Poker Site Founders Get Bitchslapped By US Department Of Justice

Trak Lord | Fri, Apr 15 2011 9:28 PM CDT
Poker Site Founders Get Bitchslapped By US Department Of Justice | TweakTown.com


Eleven defendants, including the founders of online gambling sites PokerStars, Full Tilt Poker and Absolute Poker are the subject of a United States Department of Justice indictment, unsealed today. The indictment charges the defendants with bank fraud, money laundering, and illegal gambling offenses. Authorities in New York also issued restraining orders against more than 75 bank accounts, and seized five different internet domain names. Damn, that's cold.

Evidently, Manhattan U.S. attorney Preet Bharara has charged Isai Scheinberg and Raymond Bitar, founders of PokerStars and Full Tilt Poker, respectively, and nine other defendants with fraudulently scheming to thwart a 2006 antigaming litigation that prevents US banks from processing online poker payments. Bharara said in a statement:

As charged, these defendants concocted an elaborate criminal fraud scheme, alternately tricking some U.S. banks and effectively bribing others to assure the continued flow of billions in illegal gambling profits.




This is some pretty serious stuff, poker dudes. I have multiple friends that are professional poker players and spend a good deal of time online. The saddest thing about all of this is that the fallout from some greedy and shady dudes doing greedy and shady things is going to hurt the people that actually ma

Continue reading: Poker Site Founders Get Bitchslapped By US Department Of Justice (full post)

Social Media Startup Social Guide Secure $1.5 Million Seed Funding

Trak Lord | Thu, Apr 14 2011 3:51 PM CDT
Social Media Startup Social Guide Secure $1.5 Million Seed Funding | TweakTown.com


Social is just everywhere these days. Yesterday we had news of GetGlue's 1 Million users, and today it's New York City startup SocialGuide announced the beginning of what could be a very promising future with a seed round of $1.5 million from angel investors, including Alex Zubillaga:

With more than half of the nearly 300 million Americans who watch TV having a second screen experience, the market is ripe for a social TV product that connects with consumers and networks. SocialGuide is the only product that is built around the existing social TV behavior that is happening with millions of consumers across the most popular social networks. Consumers now have one place to enjoy their favorite programming, and networks have a way to more deeply engage with their audience



CEO Sean Casey believes that the social TV space is "nascent", and spoke of the pending improvements to SocialGuide's already strong interface and user experience. SocialGuide is essentially a social data collecting service that filters and displays millions of discussions occurring in real time about televised media, and ranks them according to popularity. SocialGuide also makes it very easy to share this type of information throughout your various social networks

Continue reading: Social Media Startup Social Guide Secure $1.5 Million Seed Funding (full post)

Taiwanese NMA Animation Has Zuckerberg Pissing All Over Ceglia Emails As Lawsuit Battle Continues

Trak Lord | Wed, Apr 13 2011 11:42 PM CDT
Taiwanese NMA Animation Has Zuckerberg Pissing All Over Ceglia Emails As Lawsuit Battle Continues | TweakTown.com


If you haven't heard the news today, an upstate New York entrepreneur and convicted felon Paul Ceglia is suing Facebook founder and CEO Mark Zuckerberg for over 50% of the company. Paul, proud owner of the two shiniest, brassiest balls on the planet might actually have a case though. Evidently Zuckerberg accepted $1000 for exchange of half of a company he refers to as "the Face Book" in various email exchanges with Ceglia, who is being represented by reputable international law firm DLA Piper. He is not, as they say, @#$%ing around.

Seven years later, after already having been convicted of fraud for his woodchipper fuel company (I know, right?), Ceglia stumbled upon these emails and contracts while researching his defense for his fraud case. If you want to take a look, the evidence is pretty solid, and DLA wouldn't stake their reputations on evidence that was shoddy.

Facebook, wonder of wonders, is claiming that Ceglia fabricated all of the emails and contracts. Honestly, I'm really curious as to how this one will play out.

Continue reading: Taiwanese NMA Animation Has Zuckerberg Pissing All Over Ceglia Emails As Lawsuit Battle Continues (full post)

Google Invests $168 Million In Tower Of (Solar) Power

Trak Lord | Mon, Apr 11 2011 6:01 PM CDT
Google Invests $168 Million In Tower Of (Solar) Power | TweakTown.com


Silicon Valley's favorite search engine giant just dropped a whopping $168 million in a new solar energy plant in California's Mojave Desert designed and developed by BrightSource Energy. Google is counting on BrightSource's Ivanpah Solar Electric Generating System (ISEGS) to generate 392 MegaWatts (gross) of minty-fresh clean solar energy. In a blog post today, Google wrote:

That's the equivalent of taking more than 90,000 cars off the road over the lifetime of the plant, projected to be more than 25 years.



Which would be no small contribution to our nation's energy qualms, something Google is clearly dedicated to aiding as the tech firm has now invested more than $250 million in the future of clean, renewable energy. Google is investing in the proven technology of "Power Towers", which use fields of mirrors (heliostats) to focus solar rays onto a receiver placed on top of a large tower (seen above in the photo). According to the post, the first use of the technology was the fabled existence of Archimedes' heat ray that used a similar system to focus solar energy to burn the sails...

Continue reading: Google Invests $168 Million In Tower Of (Solar) Power (full post)

US Department of Justice Approves Google's ITA Bid

Trak Lord | Fri, Apr 8 2011 1:36 PM CDT
In an interesting game of cat and mouse, the United States Department of Justice has approved Silicon Valley's most successful tech company's intent to acquire ITA, a travel information search service based in Cambridge, MA.

The DoJ filed a consent decree with the conditions that Google continue to license ITA"s tech to existing clients such as Kayak and maintain the fairness of its current availability. Also in the decree consent were stipulations that Google erect firewalls to ensure that ITA data is blocked from other areas of Google.

Interestingly enough, the DoJ has evidently filed a civil antitrust lawsuit to block the impending acquisition of ITA if Google did not consent to the conditions. Google really didn't have a choice, especially with the rampant antitrust allegations running around, as recently reported by Bloomberg.

Google was very happy to accept the terms and conditions, and posted the following on their blog today:

It's important to us that ITA continue with business as usual, providing great service to its business partners. We indicated last July that we would honor ITA's existing contracts. Today we've formally committed to let ITA's customers..

Continue reading: US Department of Justice Approves Google's ITA Bid (full post)

MySpace Loses 10 Million Users in Four Weeks

Trak Lord | Mon, Mar 28 2011 3:04 PM CDT
MySpace Loses 10 Million Users in Four Weeks | TweakTown.com


MySpace has seen better days. And months. And years, for that matter. After eliminating "major redundancies" to the tune of about 500 positions, MySpace's company profile is beginning to resemble more and more their color scheme: black and blue all over.

Everyone is pointing the finger at Facebook, the White Whale of social media- and they're all correct. Facebook's success has overshadowed MySpace for the last two years, if not longer. It got to the point where CEO Mike Jones was forced to admit in November of 2010 that MySpace couldn't compete anymore, would be rebranding itself as a social media entertainment destination of sorts. For all of you keeping track, Yahoo pulled a similar maneuver in the past few years when it failed to stack up to Google in Search- they repositioned themselves as an entertainment news site. And furthermore, if anyone reading this is old enough to remember AOL when it didn't own like 23498 blogs, they did pretty much the same thing when their subscription service tanked (you know, when people realized they could just download an internet browser?).

Despite the repositioning efforts which netted the implacable MySpace 95 million unique users, its reported that the site went from 73 million to 63 million unique users in a four-week span between January and February.

Continue reading: MySpace Loses 10 Million Users in Four Weeks (full post)

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