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Backpage Shuts Down ‘Adult’ Section, After Senate Investigation

Business

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January 10, 2017

Backpage Shuts Down ‘Adult’ Section, After Senate Investigation

Hours after the Senate subcommittee on Investigations released their report on Backpage.com, the classified ad listing platform has shut down their Adult section.

Senate Backpage.com Investigation

On Tuesday, the US government released their investigative report into Backpage.com. Led by the Permanent Subcommittee on Investigations, the US Senate titled their report “Backpage.com’s Knowing Facilitation of Online Sex Trafficking”.

Inside the 53 page report, the Senate committee reveals that 73% of all child-trafficking reports from the National Center for Missing and Exploited Children (NCMEC) were found on the website. In addition, the report goes on to call Backpage the center of “human trafficking, especially the trafficking of minors.”

The report goes on to assert that the company began editing “adult” ads on the website, deleting incriminating words, and coaching users how to post “clean” ads for illegal business transactions. The US Senate subcommittee also argues that the company knew that the website facilitated child sex trafficking.

Following the report, the website has shut down their “Adult” ad section for users in the United States. In addition, the platform has placed the word “CENSORED” over adult section saying the ads were removed due to “unconstitutional government censorship.”

Launched in 2004, Backpage is similar to Craigslist as the website offers classified listings featuring jobs, real estate and other services. By 2011, the website was the 2nd largest classified advertisement listing company in the US following Craigslist.

Then in 2016, the company’s Dallas headquarters were raided and Backpage’s CEO, Carl Ferrer, was arrested on felony charges of pimping conspiracy, pimping a minor and attempted pimping of a minor. This came after a three year investigation by the California Department of Justice. California’s attorney general explained that most of the company’s profit came from users who posted ads in the “Adult” section.

It’s important to point out that child sex trafficking is on the rise. As the the Senate report highlights, the NMEC reported an 846% increase from 2010 to 2015 in the number of suspected child sex trafficking reports. The NMEC goes on to say that child sex traffickers are increasingly using the the Internet to sell children for sex.

Pokemon Go is Not Heading to China Any Time Soon

Business

Jonathan Antonio

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January 10, 2017

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Pokemon Go is Not Heading to China Any Time Soon

Pokemon fans in China will not be able to play the hit Pokemon Go any time soon. Following an investigation by the Chinese government, Pokemon Go will not be allowed in the country over security and safety concerns.

Pokemon Go is an augmented reality mobile game that allows for users to capture and train virtual Pokemon. The game works by using Google Maps technology, which is currently blocked in China.

Initially, Reuters reports that the Chinese government said the game would not be licensed until the app was evalated and measured for potential security and safety risks. Some of the risks included a potential threat to government information and the safety of Pokemon Go users.

But, the reasoning over safety concerns may be warranted. There have been several reports of Pokemon Go users getting targeted by robbers. For instance, last July, criminals lured Pokemon Go players using the app’s geolocation features. Consequently, four people in O’Fallon, Missouri were robbed. Then in Arizona a family abandoned their child to play Pokemon Go. Not to mention, several men fell off an ocean cliff in California after trying to catch a Pokemon.

Despite being banned in China, Pokemon Go was a hit in the US. In fact, Niantic, the company behind Pokemon Go, in the app’s first month the company earned $200 million in app sales.

Pikachu Pokemon Go — Stock Photo: Bangkok, Thailand – December 17, 2016 : woman playing pokemon go on his iphone -holiday pikachu for christmas event (enchanted_fairy / Shutterstock.com)

However, Niantic has struggled to keep users interested. A Forbes report found that nearly 80% of the paying players have since quit the game. In order to keep fans absorbed into the app the company has introduced themed driven events and it appears to be paying off. For example, a recent Halloween-themed event increased the company’s revenue by over 100%.

It’s interesting to point out that other apps such as Candy Crush Saga have done extremely well in China. In fact, a recent study found that 7.3% of Candy Crush players in China were actually addicted to the mobile game.

Yahoo Sheds Light on Company’s Future

Business

Reginald Edward

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January 10, 2017

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On Tuesday, regulatory disclosures from Yahoo shed some light on the company’s future following the planned sale to Verizon. The revelations were made during a routine disclosure to the Securities and Exchange Commission (SEC) and they pointed to a name change the exit of embattled CEO, Marissa Mayer.

While many of the planned changes are pending the finalization of a nearly $5 billion sale of the internet company’s core assets to Verizon, the exit of Ms. Mayer would be welcomed by many shareholders.

These shareholders view Ms. Mayer’s time as CEO of the once dominant search engine as largely ineffective. Even though Yahoo was heading towards irrelevance long before Ms. Mayer took over, her time as CEO has done little to change the company’s fortunes.

Stock Photo:
New York City, USA – November 11, 2015: Sign at the New York Stock Exchange as the e commerce company the Alibaba Group records blockbuster Single’s Day sales in New York City. (Christopher Penler / Shutterstock.com)

In fact, the only positive highlight of her tenure was the Alibaba IPO – though the company has been hard pressed to reinvest the proceeds in a worthwhile effort.

Beyond that, most of the recent news about Yahoo has been less than positive. This includes confirmation of two data breaches. The most recent report came in December when the company acknowledged that the records of close to 1 billion users were compromised.

This incident was so bad Verizon is reportedly reconsidering its planned acquisition of Yahoo. While some version of the deal is likely, most analysts believe Verizon is seeking to negotiate a sizable discount for the company.

Even if the sale does go through, Yahoo’s board needs to map out a long-term strategy for the company’s remaining assets. The SEC disclosure helps to shed some light on the board’s plans as it notes that the new company will change its name to Altaba and will focus on its remaining stake in Alibaba and Yahoo’s partnership in Japan.

Another change would be the exit of four current members of the Board including Ms. Mayer and Yahoo co-founder David Filo, and current Chairman Maynard Webb. While the disclosure document notes that Ms. Mayer’s exit is not due to any disagreement with the board, observers believe the move creates the opportunity to reinvigorate the company’s management.

The newly christened Altaba will look nothing like the current Yahoo. However, this could be a big plus for the company with a pile of cash and the enviable position of being one of Alibaba’s largest shareholders. The company could also be able to aid Alibaba’s move into the U.S. market – one which founder Jack Ma has talked up in recent days.

However, these plans are very much dependent on the sale of Yahoo’s core operations to Verizon. If the sale does not go through, then Yahoo would be in a very tough position. Some industry observers noted the only option might be delisting and then selling parts of Yahoo’s operations to various players.

Potential suitors in this scenario could include Disney, Microsoft, and even Verizon. But most analysts believe the windfall for investors would be significantly less than the current deal on the table from Verizon.

Yahoo is Changing Their Name. Here’s Why.

Business

Reginald Edward

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January 9, 2017

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Yahoo is Changing Their Name. Here’s Why.

Say goodbye to Yahoo as you know it. The company will be renamed Altaba, inc after their $4.8 billion merger with Verizon.

Along with changing their name, Yahoo’s CEO Marissa Mayer will be stepping down from the company once the company completes their merger with Verizon.

According to filings with the Securities and Exchange Commission, Yahoo is going to undergo significant changes once the company merges with Verizon. In fact, Yahoo’s cofounder David Filo and several other board members will step down.

Who is Marissa Mayer?

Marissa Mayer was appointed President and CEO of Yahoo in 2012 after working as a spokesperson for Google for several years. Under Mayer’s guidance, Yahoo acquired Tumblr for $1.1 billion. However, by 2016 Yahoo revealed the value of Tumblr had decreased by over $200 million. In addition, reports surfaced that Mayer would lay off over a thousand employees to focus on their search engine system and email service. But, another problem was around the corner for Yahoo.

Yahoo Hack

Late last year, Yahoo revealed that the company became victim to what became the world’s biggest security hack. Over 1 billion accounts were compromised in a cyberattack.

Yahoo’s Bob Lord explained explained that their cyber forensic experts found an unauthorized third party gained access to over a billion accounts in 2013. Since then, Yahoo has prompted their users to change their personal passwords, security questions and other information. In addition, the former social engine giant suggested users to review their accounts to see if there is any suspicious activity.

While there were reports that Verizon would back out of their deal with Yahoo, it appears as though the telecommunications giant is moving forward.

It Now Costs $233,610 to Raise a Child

Business

Reginald Edward

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January 9, 2017

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The United States Department of Agriculture (USDA) reports that it takes $233,610 to raise a child in America.

The USDA released their ‘Expenditures on Children by Families’ annual report on Monday. Their yearly report analyzed the estimated cost to raise a child from birth until they are 17 years old. Within the $233,610 estimate the USDA calculated how much it costs for a middle-income family to buy food, housing, transportation, health care, clothing and education amongst other things for their child.

In a press release, Kevin Concannon, Under Secretary for Food, Nutrition and Consumer, explained that the annual report gives American families an inside look at how much it costs to raise a child. In addition, the report, which has been around for over five decades, the Concannon explains the annual report also shows the type of expenses families are expected to face as they raise their child.

Louisa Quittman, Director of the Office of Financial Security for the U.S. Department of the Treasury explained, “Understanding the costs of raising children and planning for anticipated and unexpected life events is an important part of securing financial health.”

Some of the results of the study found that it was more expensive to raise a child in the Northeast and urban South than the Midwest and rural areas. In fact, USDA researchers explain expenses for raising a child in rural areas were 24% lower than urban cities such as New York.

Moreover, the USDA’s Center for Nutrition Policy and Promotion (CNPP) estimates that for a baby born in 2015 to a middle-income married couple will spend between $12,350 and $13,900. Meanwhile, families with lower incomes are expected to spend approximately $60,000 less than middle income families over 17 years.

This news comes after the USDA announced a brand new partnership that will allow for companies such as Amazon to accept food stamps for SNAP beneficiaries. Last Thursday, the USDA explained that in the next few months several companies including Amazon, FreshDirect, Safeway, ShopRite, Hy-Vee, Inc, Hart’s Local Grocers and Dash’s Market will soon be able to accept food stamps as a form of payment in order to combat hunger in America.

Alibaba’s Jack Ma Plans to Create 1 Million US Jobs

Business

Reginald Edward

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January 9, 2017

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On Monday, Donald Trump met with China’s Alibaba Group’s executive chairman Jack Ma.

Following a 40 minute meeting with President-elect Donald Trump, Jack Ma revealed his plan to create one million jobs in the U.S. in the next five years. How does Ma plan on doing this? The executive chairman explained that he wants to help small businesses sell their products in China.

Trump followed up by saying, “we had a great meeting…and (he’s) a great, great entrepreneur, one of the best in the world, and he loves this country, and he loves China.” Trump added that Jack Ma plans on doing “great things for small businesses”.

Alibaba Group is an ecommerce company based in China that works as a platform to deliver services to people. Similar to how Amazon delivers products, Alibaba Group is the Chinese version of the American e-commerce giant. In 2012, the company had over $100 billion sales. In 2013, the company accounted for 60% of all mail delivered in China. By 2014, Alibaba Group accounted for 80% of the country’s online sales.

But, the biggest day for the e-commerce company takes place on China’s Singles’ Day, which takes place on November 11th. This year, Alibaba Group earned a record breaking $20 billion in sales on Singles’ Day alone.

However, it is important to point out that the U.S. has not always had a welcoming relationship with Jack Ma’s Alibaba Group. Last year the U.S. Trade Representative’s put one of Alibaba Group’s e-commerce websites, Taobao, on the government’s black list of “notorious marketplaces”. Calling the website a known platform for the sale of counterfeit products. Apparently, Taobao did not effectively stop the sale of fake items that were in violation of intellectual property rights. With that being said, despite being blacklisted, the U.S. did not financially penalize Alibaba Group.

Facebook May Start Sharing Video Ad-Revenue with Facebook Users

Business

Jonathan Antonio

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January 9, 2017

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Facebook May Start Sharing Video Ad-Revenue with Facebook Users

Facebook may start sharing advertising revenue with publishers.

Watch out YouTube, Facebook is reportedly considering testing mid-video advertisements and sharing the revenue with Facebook users. According to multiple reports, instead of playing an advertisement at the beginning or the end of the video, Facebook will release “mid-roll” ads that will be shown in the middle of the video.

In addition, the program will split the revenue with 45% going towards the social media giant and the remaining 55% going towards the publisher.

Reports also suggest that advertisements will be seen in videos that run for at least 90 seconds or more and will be shown at least 20 seconds after a Facebook user hits play.

While this is groundbreaking for the social media giant, YouTube and YouTubers have made millions over the years by splitting advertising revenue. In fact, one of the most popular YouTubers, PewDiePie, was named one of the highest earning publishers on YouTube. Moreover, PewDiePie earned over $10 million in 2015.

YouTube Ads Video — Stock Photo:
Man using Youtube application on his smartphone, background is an image from the projector – photography from social media meeting in city of Lodz, Poland 07.11. 2014 (Michal Ludwiczak / Shutterstock.com)

But, Facebook’s video programming especially, Facebook Live has opened the doors to violent content on millions of Facebook user’s news feeds. Last week, four African American men and women were arrested after broadcasting live on Facebook. The video featured a special-needs teenager getting taunted, abused humiliated and reportedly tortured. The four teenagers now face several charges including kidnapping, hate crime and battery charges. In addition, Cook County Judge Maria Kuriakos Ciesil denied the four teens bail.

But, this is not the first time Facebook’s video content sparked controversy. Last October, Philando Castile was shot by a St. Anthony, Minnesota police officer after getting pulled over. Castile’s girlfriend, who was sitting on the passenger side, immediately went on Facebook Live to broadcast her dying husband’s last words to the public. It immediately sparked controversy, protests, and vigils.

Why Being a Weekend Warrior is Better Than Not Working Out

Business

Brent Edward

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January 9, 2017

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Why Being a Weekend Warrior is Better Than Not Working Out

Researchers discover the benefits of being a weekend warrior.

Published in JAMA Internal Medicine on Monday, Hannah Arem from Milken Institute of Public Health at George Washington University, discovered “weekend warriors” benefited from working out once or twice per week.

In fact, Arem and her team of researchers explained that weekend warriors were less likely to suffer from cardiovascular problems and were less likely to die from cancer.

Researchers argue that working out once or twice a week maybe enough to reduce deaths attributed to cardiovascular diseases and cancer. Also, scientists argue that the new report illustrates that men and women can still benefit from occasional exercise routines and physical activity.

This is not the first time researchers studied the benefits of the “weekend warrior” exercise routine. In 2004, Harvard School of Public Health researchers found weekend warriors were less likely to die in comparison to men who did not engage in physical activity. The study also found that working out one to two times per week generating 1,000 kcal/week can decrease mortality rates.

Obesity is an epidemic across the United States. Recent research has shown a correlation between obese parents and developmental disorders in children. For example, children from two obese parents were 3 times more likely to have problem solving issues by the time they turn 3 years old.

In addition, one of the most popular surgeries for obesity, gastric bypass surgery, has been linked to digestive issues. In fact, researchers found men and women who had gastric bypass surgery complained of having issues eating foods such as red meat.

Overall, the World Health Organization recommends a minimum of over 2 hours of moderate-intensity aerobic exercise every week.

Studies have shown that 24% of US adults did not engage in physical activity in 2013. But, the US is working on increasing physical activity with a new program. The initiative is called the National Physical Activity Plan. The mission of the program is to hopefully make all Americans physically active.

McDonald’s Plan to Build 1,500 Stores in China

Business

Reginald Edward

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January 9, 2017

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McDonald’s Plan to Build 1,500 Stores in China

In an effort to expand into China, McDonald’s has given up their majority share in their company to a major a Chinese financial company.

Along with The Carlyle Group, Citic will be purchasing a majority stake in the fast food giant for approximately $2 billion. In fact, at the end of the day McDonald’s will only hold retain 20% of their business in China.

The fast food giant’s CEO Steve Easterbrook explained that the new partnership would allow for the home of the Big Mac to better understand the food industry in China.

In fact, the company will use this new partnership to add over 1,500 in China in the next few years.

“China and Hong Kong represent an enormous growth opportunity for McDonald’s,” Easterbrook explained. “This new partnership will combine one of the world’s most powerful brands and our unparalleled quality standards with partners who have an unmatched understanding of the local markets and bring enhanced capabilities and new partnerships, all with a proven record of success”

The CEO of McDonald’s added, “By working together, we will unlock even faster growth and be closer to the customers and communities we serve as McDonald’s works to be the leading Quick Service Restaurant across the Chinese mainland and Hong Kong.”

At the end of the day, CITIC and CITIC Capital will own a 52% share in the company. While, The Carlyle Group will own 28% of the fast food giant in China. The remaining 20% stake will be held by the fast food giant.

The fast food giant sees the large working population, growing middle class, and increasing disposable income in China as an investment opportunity for the company.

McDonalds in China — Stock Photo:
HONG KONG – APRIL 03, 2015: McDonald’s restaurant interior. The McDonald’s Corporation is the world’s largest chain of hamburger fast food restaurants, serving around 68 million customers daily (Sorbis / Shutterstock.com)

It is important to note that this deal is not set in stone and is still subject to regulatory approvals. However, McDonald’s believes that the deal will close in the next few months.

McDonald’s is currently changing the way the company handles business. Late last year, the company partnered with UberEats to provide delivery service in Orlando, Miami, and Tampa. The company explained that they plan on providing worldwide delivery service by 2018.

IBM’s Watson Partners with Illumina For Cancer Research

Business

Brent Edward

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January 9, 2017

0

IBM’s Watson Partners with Illumina For Cancer Research

IBM and Illumina announced on Monday a new partnership to use Watson’s technology to analyze and understand genomic data derived from Illumina’s cancer profiling system. The goal of the partnership is to “simplify genomic data interpretation” or in other words, make it easier to understand the genes within cancer cells.

In a statement, IBM explains by adding Watson’s technology and partnering with Illumina, researchers will be able to gain more information not currently available with Illumina’s technology. In fact, Illumina will be using their trademarked TruSight Tumor 170, which profiles variations across 170 genes.

IBM continues by saying that Watson for Genomics will filter through medical literature, previous clinical trials, and other data to provide a comprehensive look inside the genetic data. In fact, IBM points out that Watson for Genomics collects over ten thousand scientific articles and a hundred new clinical trials every month. Essentially, IBM’s Watson allows for a computer to filter through hundreds of thousands of research articles and studies saving scientists time and energy.

The President and CEO of Illumina, Francis deSouza explained in a statement that the comprehensive genetic profile collected by Illumina’s TruSight Tumor 170 and analyzed via IBM’s Watson the CEO hopes to collect more information surrounding genomic changes faster than ever before.

Stock Photo:
CHIANGMAI, THAILAND – November 18, 2015: The homepage of the official IBM website on iPad (GongTo / Shutterstock.com)

IBM’s Watson is becoming big business for the tech giant. The company’s Watson first launched into the scene in 2011 after defeating a long list of Jeopardy champions. Since then, the company has partnered with Pfizer, The Weather Channel, BMW and other tech companies.

More specifically, IBM Watson Health and their corresponding Watson Health Cloud platform provides additional information for doctors, scientists and insurance companies to search through personal health data and the latest research.

Meanwhile, artificial intelligence is becoming a big business. A 2016 study by CB Insights found that more than $1 billion has been spent on promoting AI companies.

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Backpage Shuts Down ‘Adult’ Section, After Senate Investigation

Senate Backpage.com Investigation

Pokemon Go is Not Heading to China Any Time Soon

Yahoo Sheds Light on Company’s Future

Yahoo is Changing Their Name. Here’s Why.

Who is Marissa Mayer?

Yahoo Hack

It Now Costs $233,610 to Raise a Child

Alibaba’s Jack Ma Plans to Create 1 Million US Jobs

Why Being a Weekend Warrior is Better Than Not Working Out

McDonald’s Plan to Build 1,500 Stores in China

IBM’s Watson Partners with Illumina For Cancer Research

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