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Bitmain signed a deal with to sell 17,595 of its newest bitcoin mining rigs, called S19 Antminers, to Core Scientific, the Washington state-based mine hosting company said in a press release on June 26.
Why it matters: The deal is Bitmain’s largest known sale of the S19 Antminers yet. It could indicate that the worst is over for the Beijing-based manufacturer.
- Chaos has overtaken Bitmain in the last couple of months, as its two co-founders fight for control. Co-founder Zhan Ketuan stopped product deliveries in early June amid a battle for control of the company.
- The announcement comes less than a week after Bitmain’s dueling co-founders came to an agreement to resume product deliveries.
- The underlying leadership question is unresolved, as a lawsuit between the rival camps continues. So long as the litigation continues, product deliveries are still in a precarious situation.
Details: Bitmain will deliver the S19s over the next four months, the press release said. Core Scientific will deploy them in their 655,000 square feet of data centers across the US.
- Core Scientific sells the processing power of mining rigs to its “growing list of clients.”
- This is the first time Bitmain’s S19 Antminer will land in the US since its release in February 2020.
- The two companies have been working on the deal since the beginning of the year but faced delays due to Covid-19, Forbes reported.
- Core Scientific did not disclose the price of the 17,595 S19 Antminers.
Core Scientific has received and begun testing the first of Bitmain’s newest ASIC miners, and has seen material success in increasing existing hashrate to achieve a 110 TH/s ± 3%.Kevin Turner, President & CEO of Core Scientific
Context: Bitmain has had two rival CEOs since Zhan seized control of the Beijing arm of the company in May, which runs Bitmain’s manufacturing operation in Shenzhen. Wu Jihan ousted Zhan back in October 2019. He remains in control of offshore sales and procurement through Bitmain’s Hong Kong affiliate.
- Core Scientific appears to be planning on capitalizing on growing hash rates in the US. Observers often use hash rate measures to gauge overall activity in the mining of bitcoin and other cryptocurrencies.
- China, which offers cheap hydroelectric power, still dominates bitcoin mining with about 70% of the global hash rate, according to a study by the University of Cambridge.
- Core Scientific has been building a relationship with Bitmain for some time. In late May, it announced plans to bring the company’s official training program for Antminer maintenance to the US for the first time.


text: Rajat and Jayant Agarwalla, the Indian brothers who came up with the Scrabble-style word game for Facebook called Scrabulous, told fans that their country's courts ruled that their game did not violate Mattel Inc.'s copyrights. It did, however, consider the name Scrabulous a trademark violation and ordered the Agarwallas to stop using the word, the brothers said. Mattel, which owns the international rights to Scrabble, in February sued the Agarwallas in Indian court. Hasbro, the owner of Scrabble in North America, followed suit in July. Several days later, the Agarwallas pulled the application from Facebook and put up Wordscraper, a similar game that lets players modify their own board.

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Burglars staged an overnight raid on a Huddersfield town centre shop – and made off with ‘tens of thousands of pounds’ in cash and stock.
Links Mobile, in New Street, was broken into overnight on Friday.
In a carefully-planned operation, raiders knocked through the wall of an adjacent stairwell to gain entry to the room above the mobile phone shop.
They then smashed a second hole through the roof of Links Mobile and entered the shop from above.
Once inside, they took mobile phones and computer equipment before breaking into the safe and stealing a large amount of cash.
The shop didn’t have insurance and the break-in is said to have cost the owner, Babar Hussain, everything he had.
Mr Hussain’s sister-in-law, Sanna Bano, said: “He feels more devastation than anything. He built everything up with hard work and now it’s just gone.”
The shop, which Mr Hussain has owned for just less than a year, had no alarm system installed but was protected by shutters on the inside.
“There was no alarm because there were shutters on the inside of the shop and we never expected anyone to come in through a wall and then the roof,” said Mrs Bano.
“It was a pinpointed break-in. They knew exactly how to get in. The only damage they caused was to the wall and roof.
“They cut off all the electrics to the shop and took the CCTV hard drives. They took all the cash in the safe and all the smartphones. They took absolutely everything.
“In total we’ve lost tens of thousands of pounds.”
Mrs Bano said crime scene investigators spent the weekend collecting fingerprints and were now waiting for results to come back from the lab.
A spokesman for West Yorkshire Police confirmed enquiries were ongoing.
A statement said: “Suspects are believed to have broken into a New Street store overnight between Friday May 18 and Saturday May 19.
“Once inside, they stole iPhones, Samsung mobile phones, computer equipment and a quantity of cash.
“Forensic enquiries have been conducted and enquiries are ongoing.”
Anyone with information is asked to contact Kirklees Police on 101 referencing crime number 13180240606.
Information can also be given anonymously to the independent Crimestoppers charity on 0800 555 111.


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2019 Fashion Was All About The Nostalgia
Lyst's Year in Fashion has confirmed our lust for the Fendi logo and its '90s-era Baguette bag
2019 is coming to a close, but based on the year's fashion trends it looks more like we're approaching another Y2K. Global search platform Lyst has released its yearly fashion recap, which highlights our very intense nostalgia for the late '90s/early 2000s, complete with combat boots, clogs, and the ubiquitous Fendi baguette bag.
Other throwback trends that received the 2019 plug include Dr. Martens, Teva sandals, and, yes, jelly shoes. Apparently sweaty and smelly feet are not enough to deter fashion-conscious consumers, as those slippery bad boys saw an 82 percent increase month to month, peaking in April of this year.
When it comes to Fendi's baguette bag specifically, Lyst noted a whopping 164 percent spike in searches. The iconic shoulder bag from the late '90s was thrust into the sartorial spotlight with help from Sarah Jessica Parker during her Sex and the City tenure, but it saw a serious comeback this year thanks to the fashion influencers of today, including Bella Hadid and Kendall Jenner. Unsurprisingly, Fendi's classic Zucca print was also dubbed the most wanted logo of the year.
Despite the resurgence in tiny handbags (we're looking at you, Jacquemus), Lyst is predicting a revival in oversized bags come 2020, meaning our lust for the early 2000s is still very much alive and well. Prepare to see the trend welcomed by big bag OGs Mary-Kate and Ashley Olsen, who have already reintroduced oversized leather shoppers through their high-end line The Row. (And will always be remembered for toting around a large Balenciaga City bag during their NYU years.) This extra room in handbags means we can finally put both our phones and wallets back in the same place. We are so lucky.
Read the rest of Lyst's "Year in Fashion" 2019 report here.


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Deliver your message from above: the ‘texting helicopter’ that can display pictures and words from the sky
- LED lights on the rotor blades show messages
- Helicopter flown using a remote
- Messages uploaded before each flight
It is a unique way to deliver your message - by flying it over the recipients on a helicopter.
The new remote control toy aims to give text messages a new lease of life.
It uses LED lights attached to its rotor blades to spell out a massage as it flies.
Scroll down for video
The Revell 'texter helicopter' uses LED lights attached to its rotor blades to spell out messages
The aircraft measures 170mm x 90mm
Each flight lasts around eight minutes
Fully charging the helicopter takes 50 minutes
USB cable used to charge and upload new messages
Range of 20m from user
Users simply enter the message they want to send, then send the copter flying into the sky just like a normal helicopter.
The $70 toy is made by Revell, as has just been unveiled at an international toy fair in London.
Called the Texter Helicopter, the copter works by letting you upload a phrase via USB from your computer to be displayed via glowing LED lights in the upper rotor blades.
Priced at $70 (£39.99), the easy to control aircraft measures 170mm x 90mm and will last about 8 minutes on a 50-minute charge.
Software is used to program the lights, and can create basic pictures as well as text messages, the firm says.
The helicopter is controlled using a normal helicopter remote, after messages have been uploaded via a USB cable
The toy is the latest in a series of drones and helicopters adapted for the home market.
Already there app-controlled copters, as well as home drones that can send back high definition video.
Some firms are even experimenting with smart drones that could automatically control your home, calling you if they spot something unusual.
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IT WAS a mix of the old and the very new at Lookers Volkswagen Battersea as it held the official launch of its brand new £10m showroom.
The new dealership, at York Road, was officially opened to a packed audience, which included senior directors from Lookers and Volkswagen Group.
The 90,000 sq ft dealership represents £10m of a joint venture with Linden Homes and displays 90 used cars and 17 new cars.
The launch saw guests take a tour of the new three-storey building and browse the very latest models to grace the Volkswagen range, including the powerful T-Roc, Tiguan and Touareg SUVs, as well as the fully electric e-Golf.
Guests were also able to admire the ultra-futuristic Volkswagen XL-1, the most economical road car ever to reach full production, while also taking a look back at some of the brand’s most iconic models, including the 1974 Golf GTI MK1 and 1976 Polo MK1.
Attendees included Lookers chief executive Andy Bruce and Lookers chief operating officer Nigel McMinn, while VIP guests included Andrew Savvas, director of Volkswagen UK, who took the opportunity to recognise Lookers as a key partner for the brand.
Savvas said: ‘The success of Volkswagen is underpinned by strong partnerships, with the biggest opportunities coming from collaborations with our retail partners.
‘That is why we are so proud to call Lookers a partner in the United Kingdom, as it is responsible for over six per cent of Volkswagen’s total sales across 14 locations.
‘I would like to thank Lookers for its long-term commitment and for its investment in this amazing facility in Battersea, which is one of the most impressive Volkswagen retailer premises in the UK right now.
‘This is a very important location for us as we have been selling Volkswagens in Battersea since the 1970s.’
In the picture, Andrew Savvas, director of Volkswagen (UK), addresses guests at the launch. Standing from left to right are Lookers chief executive Andy Bruce, former business efficiency director for Lookers VW, Paul Wilkinson, and Duncan McPhee, Lookers Volkswagen franchise director.


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Kittelson & Carpo Consulting – News and Advisories
We provide weekly updates on the latest news that affect local and foreign companies doing business in the Philippines.
Acting Socioeconomic Planning Secretary Karl Kendrick Chua announced that the updated economic blueprint will focus on fixing the COVID-19 situation in the Philippines.
The Securities and Exchange Commission, in a reminder issued on January 13, has set the deadline for the manual and electronic filing of Notice to Retain Specific Corporate Term. The notice shall be filed along with the Director’s Certificate on or prior to February 23, 2021.
The Bureau of Investments (BOI) announced that the total of its approved investments is down by 11% in 2020, despite reaching the ₱1 trillion level. BOI Chairman and Trade Secretary Ramon Lopez states that the value of total approved investments, reaching ₱1.02 trillion, is the second-highest level achieved by the agency.
The Bangko Sentral ng Pilipinas (BSP) is planning to streamline the loan application process for micro, medium, and small enterprises (MSMEs) to increase its accessibility amid the COVID-19 pandemic in the Philippines.
The Securities and Exchange Commission (SEC) warns the public from participating in investment schemes of two unauthorized investment groups.
The Malacañang approves the 2020 Investment Priorities Plan (IPP), granting tax incentives to several business activities in response to the COVID-19 pandemic.
The Department of Trade and Industry (DTI) announced that seven food manufacturing companies have confirmed that there will be no increase in their prices on Noche Buena products amid the COVID-19 pandemic.
The Department of Trade and Industry (DTI) places the Philippines as an investment destination amid the growing tension between the United States (US) and the European Union (EU) by leveraging their tariff perks in both economies.
The Department of Trade and Industry (DTI) is aiming to complete the e-commerce roadmap within this year. The e-commerce roadmap of 2022 is aimed at improving the market access of businesses through digitization and logistics integration.
The Securities and Exchange Commission (SEC), in a public notice dated September 21, 2020, has implemented a mandatory one-time 60-day grace period covering all existing, current, and outstanding loans as a relief to borrowers pursuant to Republic Act (RA) No. 11494, otherwise known as the Bayanihan to Recover As One Act.


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Earlier this week, Sen. Carl Levin, D-Mich., and Sen. Claire McCaskill, D-Mo., introduced legislation to "stop some of the most egregious credit card practices that unfairly deepen or prolong credit card debt held by consumers. The Stop Unfair Practices in Credit Cards Act (PDF) follows an investigation and hearing by the Permanent Subcommittee on Investigations, which Levin chairs and on which McCaskill serves."
In his floor statement introducing the bill, Sen. Levin said that the bill "would stop credit card companies from charging interest on debt that is paid on time. It would crack down on abusive fees, including repeated late fees and over-the-limit fees, as well as fees to pay your bill. It would also prohibit the charging of interest on those fees. It would establish guidelines on interest rate increases, including a cap on penalty interest rate hikes at no more than seven percent. And it would require that increased interest rates apply only to future credit card debt, and not to debt already incurred."


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The Food Bank of Northern Indiana hit the road today to help feed hungry families in South Bend. This morning the food bank's Mobile Food Pantry rolled into the parking lot of Charles Black Recreation Center located on West Washington Street.
They offered fresh produce and other nutritious items free of charge to anyone with a valid photo I.D. Amanda Peterson, Resource Opportunity Developer says, “A lot of the people don't want to go to the pantries because they ask for a lot of information, so they can come out here and be completely anonymous and get the food that they need.”
The pantries serve as a way to deliver food directly to those in our community who struggle to make ends meet, and who do not always have a car to get the groceries they need. Ernest Jennings, a patron of the Mobile Food Pantry says, “Here, once they have their food they can go home. It's easy to walk a couple of blocks and you don't have to go far. But when you have to carry your food three or four miles, it's a little hard on them, especially senior citizens.”
Next week the Mobile Food Pantry plans to travel to Starke County and distribute groceries.


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svetikd / Getty Images
Binance.US announced a cut of several Bitcoin trading fees, which brought down the stock of several competitors, including Coinbase. The move marks the beginning of the price war and the potential consolidation of the industry amid the crypto winter, which has led to massive layoffs in several cryptocurrency firms.
GO On The Crypto: The Latest Cryptocurrency News You Need To Know
Uber Lost and Found Index: Strange (and most common) items that people leave
On June 21, Binance.US announced it would bring zero-fee trading to all new and existing customers to trade Bitcoin against the dollar, tether, USD coin and BinanceUSD.
“As the fears of the recession increase and the costs of inflation soar, we hope to deliver greater cost savings on bitcoin and value for everyone in the crypto ecosystem,” Binance.US said in a press release. “While we are already offering 10X lower business fees than other major crypto platforms, we are looking for additional opportunities in this challenging time and providing what we call ‘real exceptional value’, which provides substantial savings to customers who trade BTC. . “
Shares of Coinbase were down 9.7% on June 22 following the news, but have since bounced and are up nearly 6% on Friday.
Steve Bossy, co-founder and CEO of PolySworm, a decentralized, crowdsourced threat-intelligence-security provider, told GOBankingRates that we are now seeing better competition for the market share, especially as many players are bankrupt or are now. On the edge of it.
“Binance and FTX are cash-strapped and Celsius and Voyager are struggling with Blockfi at the moment of acquiring various crypto platforms around the world,” Bussy said. Binance founder CZ and Sam Bankman-Fried, the CEO of FTX, could become kingmakers here, he said.
Small Business Spotlight 2022: Nominate Your Favorite Small Biz
“So when we look at major exchanges like Bitcoin, which reduces trading fees on Bitcoin to zero, this is a key signal for competitors. Said.
In fact, the effects of the “crypto winter” are wandering throughout the entire industry. Earlier this month, Coinbase was the latest crypto giant to announce a layoff. The company announced that it would lay off 18% of its staff “to ensure [they] Stay healthy during this recession.
Other platforms, including Robinhood, announced layoffs – saying it would cut 9% of its workforce in April after a period of “hyper growth” – and Gemini, run by twins Cameron and Tyler Winklewos, which cut the company’s workforce by 10%.
Zachary Friedman, co-founder and CEO of digital asset brokerage Secure Digital Markets, told GOBankingRates that Binance’s strong positioning and low fees allow it to capture customers and expand market share. In addition, they believe that the recent layoff among competitors represents an opportunity for Binance to grow.
“With the crypto winter cold settling in, the gap between strong and weak companies is widening. We expect enhanced consolidation and a different landscape in the current market cycle,” Friedman said. “It will be interesting if Binance goes beyond reducing its fees to Bitcoin to include other crypto assets – which puts more pressure on competitors.”
More from GOBankingRates


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Generational Equity announced the sale of its client Tires 2 You to West Coast Tire Pro on July 19, 2017. Generational Equity,...
Pirelli wins Tire Manufacturer of the Year at Tire Technology Awards
Bridgestone showcase new tires at Geneva International Motor Show
Continental introduces two new tire technology concepts


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A Northern California teen faces criminal charges connected with using stolen credit cards to rent a $240,000 sports car and a $12 million vacation home, authorities said.
Mohannad Halaweh, 19, of Rohnert Park, was scheduled to appear in court Monday on multiple charges, including vehicle theft and several identity theft-related charges, according to Sonoma County Superior Court records.
“He wanted to live like he was a high roller,” said Sgt. Michael Raasch of the Sonoma County Sheriff’s Department. “He wants to live the rock star lifestyle.”
He was arrested June 4 after deputies stopped him in the Roseland area near Santa Rosa after he was seen driving an orange 2012 McLaren, which had been reported stolen, Raasch said.
A passenger in the car, 19-year-old Nhimia Kahsay, of Santa Rosa, also was arrested on suspicion of outstanding fraud warrants, Raasch added.
Detectives discovered Halaweh used stolen credit cards to rent the sports car for $13,000 on June 2 and the vacation home in Glen Ellen for $27,000, Raasch said.
He reportedly rented the sports car from an exotic-car rental company in San Jose. The car rental later discovered he had booked the car with a stolen credit card and reported the theft to authorities, Raasch said.
As detectives investigated Halaweh, they also discovered he rented a vacation home June 3 and threw a party that authorities broke up, Raasch said.
Halaweh was known to authorities because he reportedly held similar parties in the past.
He was reportedly arrested in March in Berkeley on suspicion of using a stolen credit card to buy a large amount of electronics from an Apple store, Raasch said.
Halaweh was being held on $1 million bail.


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Between the 15 and 19 of october of this year will be the 53rd edition of the international Boat Show of Barcelona, which will concentrate all brands, offers and industry news.
The exhibition will have the presence of more than 900 nautical brands.
The event will be take place in the Port Vell which will be divided into 4 sections:
«Espai del Mar» Traditional Marina, Fun Beach and Village.
This year’s event will have different activities to create unique experiences with the sea. One will be the creation of artificial waves for surfing. They will also do demonstrations and outings SUP (Stand Up Paddle) Flyboards Shows, Regattas and trophies among others.
The entrance fee is 12 euros and the event shedule will be from 10:00 to 19:00.
For more info click here
Poster of the show:


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"The download will cost 99p, while the CD single will retail for £4. The song will not be made available on Spotify and other music streaming services until January."
Chancellor Osborne will be under pressure to remove any taxes payable.
The Independent writes Monday: “Speaking at a press conference in London, Geldof said: "This is the worst kept secret in the world. We will reconvene nearly 30 years to the day. Three weeks ago I got a call from the UN saying they required a 20 per cent increase across the board. They are very concerned about the situation in West Africa. We called up some giants and they said they would come again to the party."
Great but can’t any of them bring a new song with them?


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Toyota Thailand has just confirmed via a teaser video today that the next-generation Vios will make its official debut on August 9, or just about two weeks from now.
The teaser video also gave us a brief glimpse at what we can expect on the all-new B-segment sedan, including the car’s overall silhouette, which seems to take on a fastback-like shape with its raked rear windscreen.
The headlights look to be inspired by the Toyota Corolla, and flank a massive Camry-esque grille that makes up much of the front fascia. Moving over to the back, the teaser video also shows off the all-new Toyota Vios’ sleek LED taillights, replete with sequential turn indicators.
Only one single shot of the interior can be seen in the video, which shows off the next-generation Toyota Vios’ sleek dashboard finished in a striking maroon colour, with a freestanding touchscreen infotainment display up top. The horizontal layout and clean lines even reminds us of Mazda interiors!
Technical information on the all-new Toyota Vios remains scarce at the moment, but Thai publication Headlight Magazine suggests that the B-segment sedan will be offered with two powertrain options in the Kingdom, including a 1.2-litre naturally aspirated four-cylinder petrol engine specifically designed in-line with the country’s eco-car regulations, as well as a 1.5-litre hybrid mill to put it right up against the all-new Honda City.
The former will most likely be exclusive to Thailand, with the rest of the world’s most likely retaining the same or similar 1.5-litre naturally-aspirated mill. As for the latter, Headlight Magazine reports that it’ll most likely be a Hybrid THS-II system, consisting of a 1.5-litre four-cylinder DOHC petrol engine and an electric motor.
More information on the all-new Toyota Vios should be coming out soon ahead of the launch, so keep your eyes peeled!


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A Federal Trade Commission (FTC) lawsuit against an investment advising company for deceptive money-making opportunities and earnings claims has resulted in the company having to refund millions of dollars to consumers and also pay a significant civil penalty.
This enforcement result is significant as it’s the first time that the FTC has collected civil penalties related to the Notice of Penalty Offenses regarding money making opportunities that was sent to hundreds of companies, including direct sellers, last October. According to this JD Supra article:
“On January 13, 2023, the Federal Trade Commission announced that as a result of a Federal Trade Commission lawsuit, investment advice company WealthPress has agreed to a proposed court order that would require it to refund more than $1.2 million to consumers and pay a $500,000 civil penalty for allegedly deceiving consumers with purportedly “outlandish and false claims about their services.”
The case marks the first time that the FTC has collected civil penalties against a company that received the Notice of Penalty Offenses regarding money-making opportunities sent last October, and the first civil penalties for violations of the Restore Online Shoppers’ Confidence Act. (ROSCA)
“We’ve brought several cases this year against companies making false earnings claims, and we won’t hesitate to bring more,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “WealthPress is now paying the price for deceiving its customers and ignoring our Notice of Penalty Offenses on money-making claims.”
The FTC’s complaint against WealthPress and its owners, Roger Scott and Conor Lynch, alleges that the company used deceptive claims to sell consumers investment advising services—often claiming that the services’ recommendations were based on a specific “system” or “strategy” created by a purported expert. The company charged consumers hundreds or even thousands of dollars for access to these services.”


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In China's secondhand luxury goods market, Louis Vuitton has become the most popular brand, followed by Gucci and Chanel, according to a ranking released by Hongbulin, a secondhand luxury trading platform.
During the first six months of 2021, LV was searched more than 33 million times on Hongbulin's platform, while Gucci and Chanel had over 24 million and 18 million searches respectively. The ranking was reported on by Beijing Business Today.
In the past, the Chinese used luxury goods market was in its infancy, because Chinese consumers were previously unwilling to buy secondhand products. However, in recent years, the market has undergone some changes. Due to the impact of COVID-19 on the global economy, and growing environmental consciousness, attitudes are changing more rapidly.
Compared with complicated distribution processes and slow delivery by some luxury brands, secondhand luxury trading platforms provide a more cost-effective alternative, the report said.
Multidimensional data, such as sales of used luxury products and number of orders, have showed secondhand luxury goods are becoming more accepted among domestic consumers. One user of Hongbulin placed a total of 470 orders on the platform during the first half of this year, or 2.5 orders per day.
Research firm Bain & Co said China's domestic luxury market had a difficult start in early 2020. However, after COVID-19 was brought under control, the market began to rebound in April and realized 48 percent growth last year.
With the circular economy under consideration, buying and selling idle items, a new type of consumption which is environmentally friendly and fashionable, can help young people improve their quality of life, Hongbulin's founder and CEO Xu Wei said.
According to the ranking, Chanel Classic Flap, Gucci GG Marmont, Louis Vuitton Speedy, Hermès Birkin and Christian Dior Lady Dior were the top five most popular handbags.
For some experienced users, buying some classic styles and limited editions of secondhand luxury goods is also a new type of wealth management. One user earned a profit of 37,264 yuan by reselling a Chanel vintage CC necklace on Hongbulin.


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With the release of the iPhone 5, Apple took the decision to increase the size of its smartphone’s display, while at the same time retaining the ability to easily hold it in one […]
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Giant 369MB transaction block has been minted on the Bitcoin SV network this weekend. The block contains 1.3 million transactions and is currently the largest block, the blockchain has ever seen.
The historical block was processed by blockchain service provider TAAL on May 16. The company shared the message on Twitter, saying it is another world record block:
Another world record block,1.3M txn/369MB, processed by TAAL proves that on-chain scaling and big blocks are needed for businesses adopting blockchain. Contact [email protected] for enterprise level, guaranteed transaction processing at volume discounted rates. pic.twitter.com/IYbA9Ioufa— TaalBlockchain (@TaalBlockchain) May 16, 2020
The largest-ever single block was created just days after the other world record block of 309 megabytes (MB) or 1.1 million transactions was processed on the same network of Bitcoin SV and by the same provider on May 13. In the meantime, the block is larger than any blocks processed on Bitcoin (BTC) or Bitcoin Cash (BCH) networks.
It is known that a gigantic amount of transactions was processed during the competition, which was held in order to test the Bitcoin SV network’s transaction capabilities.
The record of blockchain records
The blockchain blocks contain the transaction records made on the particular network. The transaction processing capacity is, however, limited by the block creation time and the block size. The block size meanwhile contains the number of transactions that can be confirmed on the network within the individual time interval.
The biggest ever transaction block mined on the Bitcoin network was the block 540107. The 2.26MB block was created back in September 2018 and was the biggest Bitcoin block to date. At the time the average Bitcoin block size was around 0.8MB with approximately 1600 transactions per block. However, the historical block 540107 looked more like an anomaly with a size of 2.26MB and only 230 transactions.
Despite the fact, the network of Bitcoin also has the record of the biggest transaction in Bitcoin’s history. The single transaction of 94.504 Bitcoins was made back in September 2019. With a Bitcoin’s price at the time being around $10.600, the transaction was worth approximately $1 billion.
But even though the record of the world’s biggest transaction in value belongs to Bitcoin, the network of Bitcoin SV is still the one with the unbeaten record of the biggest transaction amount processed in a single block.
The network of Bitcoin SV
Bitcoin Satoshi Vision – or in other words Bitcoin SV – is the hard fork of Bitcoin Cash (BCH), that split from it back in 2018. The BCH, on the other hand, is the Bitcoins hardfork itself, established after the 2017 update.
The network of the world’s 6th largest cryptocurrency by market capitalization, claims to be the only one “adhering to Bitcoin creator Satoshi Nakamoto’s original protocol, design, and vision for Bitcoin.”
Moreover, the Bitcoin SV network aims to provide a clear choice for miners and allow businesses to build applications and websites on it reliably. According to the annual report of the Bitcoin Association, the network is already able to process a similar amount of transactions as VISA. Furthermore, it offers higher rewards for its miners than Bitcoin.
It is known that BSV network can process 1.3000 transactions per second for a prolonged period, in addition to loads of 6.400 transactions during peak moments. Meanwhile, VISA which has long been considered as the gold-standard for payment operators, processes around 1.700 transactions per second.
The network completed its first halving process this April when its block reward split to 6.25 BSV. The miners, however, seem to be back on the Bitcoin SV network as the hash rate charts show the constant increase since the first week of May.


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A factory fire at a 92-year-old Long Island bakery has created a nationwide shortage of knishes just weeks before it was poised to become Thanksgivukkah's rightful treat. The September fire damaged machinery at Gabila's Knishes, touted as the largest knish producer in the world, creating a chain reaction in supermarkets and delis across the nation.
"Our customers ... are calling us saying they are literally searching supermarkets and stores and they're all asking when we'll be back," Stacey Ziskin Gabay, one of the owners of Gabila's Knishes ("The Original Coney Island Square Knish"), told the AP. Gabay says they sell about 15 million knishes per year.
But this year isn't like any other year. For the first time since 1888, two great holidays — Hanukkah and Thanksgiving — will fall on the same day. Now dubbed Thanksgivukkah, it's a once in a lifetime, super holiday of merriment. However, we cannot celebrate yet.
This year's joint celebration could mean more demand and a lost opportunity for Gabay. (No one really knows what to expect since the last one was 125 years ago.) Carol Anfuso, an Atlanta transplant living in New York told the AP, "For the last month I haven't had any knishes — my heart is broken." Another Gabila fan was heartbroken when he went to the legendeary Katz's Deli on Manhattan's Lower East Side and didn't find any there either. (Katz's sells around 6,000 of Gabila's knishes a month.) "It's something I grew up with. I like the taste, sliced with mustard. ... I always look for them, and I haven't seen them recently," he said.
Understandably, this is not good news. But there are options, like making your own at home or scouring the black market. And there's always waiting. Gabay says that they are hoping to end the six-week shortage on the day of Thanksgivukkah. That's something to be thankful for.


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Luxury bag re-seller Rebag has opened its second New York City store at 575 Madison Avenue. Last November, the company launched its first brick-and-mortar shop in SoHo at 390 West Broadway.
Masterminded by design firm Red Antler, Rebag’s Madison Avenue store features the company’s signature pastel yellow, while the new exterior design, which include a floor-to-ceiling glass storefront, prominently highlights the Rebag brand and elevated shopping experience.
The interior of the store is uniquely designed to create space, depth, and dimension with different textures and materials – like handcrafted wooden fixtures by Waka Waka Studio – to bring the space to life.
The new store will also integrate the company’s app, in which the potential seller can simply submit pictures on the app and will receive a free quote in less than one business day. However, like the SoHo flagship, the store will also feature Rebag’s signature “Rebag Bar” where customers are encouraged to bring their previously owned bags and receive payment within one hour or less, an industry first. Rebag will continue to offer prepaid shipping labels nationwide as well as complimentary white glove pickup service in Manhattan for those who can’t make it into the store.
“Today, people want everything to be both instant and transparent, with the touch of a button on their phone; including the way they resell luxury goods,” said Charles Gorra, founder and CEO of Rebag. “The resale value proposition is flawed and downright frustrating for sellers. Despite all recent attempts to digitalize the experience, the core concept of consignment has largely gone untouched since its inception in the 1900s. It is time for a change.”


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Samsung has launched its Portable Solid State Drive (SSD) T7 and 870 QVO SSD in India. This based on the USB 3.2 Gen 2 standard offering up to 1,050 MB/s transfer speed, twice as fast as its predecessor, the T5 that was launched back in 2017.
The 870 QVO SSD comes with up to eight terabytes (TB) of storage capacity and is built on the company’s second-generation quad-level cell (QLC) technology. It promises sequential read and write speeds of up to 560 MB/s and 530 MB/s and Random Read and Write Speed up to IOPS 98K and 88K, respectively.
The Samsung SSD T7 comes with a promise of durability and shock resistance technology which has an AES 256-bit hardware encryption for better security. Utilizing the DTG (Dynamic Thermal Guard) and ePCM (Encapsulated Phase Change Material) the new device protects user data from thermal damage by maintaining optimal operating temperature to avoid low-temperature burns.
The Samsung Portable SSD T7 comes in Metallic Red, Indigo Blue and Titan Gray colours, is priced at Rs. 9,999 for 500GB, Rs. 17,999 for 1TB, and Rs. 29,999 for 2TB. It is available from Amazon.in and other online and offline stores.
The Samsung 870 QVO SSD is priced at Rs. 9,999 for 1TB, Rs. 19,999 for 2TB, Rs. 39,999 for 4TB and Rs. 74,999 for the top-end 8TB model. It will be available across retail channels, online and offline from July 20, 2020.


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TESTS ON MEAT products will be made publicly available under a new scheme agreed between food authorities and the food industry yesterday.
The decision was taken at a meeting to address how testing can maintain consumer confidence in the accuracy of food labelling; this followed recent discoveries of horse meat in burgers and pork DNA in halal pies and pastries.
Representatives from the foodservice sector were among those who attended an emergency meeting with the Food Standards Authority (FSA) and government ministers on 4th February.
An FSA spokesman told Footprint that the “very large meeting” included caterers, suppliers, producers and the major retailers – and relevant industry groups.
The FSA and the food industry will now agree a standardised sampling and testing system which will meet accredited standards and test to an agreed level of DNA. No timeline has been set.
FSA chief executive Catherine Brown said: “I am pleased that we have been able to agree a way forward to maintain consumer confidence in the food that people eat. We need to move swiftly to get this work under way to reassure consumers.”
Food and farming minister David Heath added: “This is a shared problem, and it needs shared solutions. Food businesses’ agreement to give regular updates on meat testing is a significant move that will give consumers confidence in what they’re buying. It’s now important that the industry starts sharing this information as soon as possible.”
The FSA called the meeting following two cases of contamination in meat products. The first involved horsemeat found in burgers supplied by Irish firm Silvercrest to the likes of Tesco and Burger King. Then, late last week, pork DNA was discovered in halal pies and pasties supplied to prisons through 3663. Having recognised a potential connection between a supplier of halal products for the Ministry of Justice and one of its suppliers, the distributor tested five products and was “shocked” to find pork DNA. 3663 has now revealed the products came from McColgan’s Quality Foods, based in County Tyrone. A spokeswoman told national press that no other customers have been affected.


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UK brewer Greene King has just launched a year-long experiential and social campaign to celebrate the new look and taste of its capital-inspired ale, London Glory, by engaging the city’s inhabitants through the launch of its interactive What’s The Story campaign.
To drive awareness for the ale, a stand-out branded taxi with a ‘writer in residence’ in the driving seat was positioned across key high footfall locations in London including Queen Street, Spitalfields Market and The Stoop, Twickenham, in the three days up to and including the Harlequins versus Northampton Saints match at The Stoop on February 6th 2016.
Greene King partnered with London-based rugby union team Harlequins as part of the marketing campaign, and used the match as the new look beer’s official launch date.
Londoners were invited into the taxi to tell stories about their home city over a free pint of London Glory, giving participants the chance to enjoy 15 minutes of fame when their tale was broadcast to the Greene King brewery’s social audiences through a dedicated social media campaign.
Prompting brand engagement and trial, over 5,000 people sampled London Glory across the three days culminating. Those who visited the London Glory Taxi were rewarded with a free sample of ale in exchange for a social media post using the dedicated #whatsthestory hashtag which reached over 300,000 people to date across the three days.
Chris Houlton, managing director of Greene King brewing and brands, said: ‘’The London Glory experiential activation was designed to really engage the people at the heart of the brand and celebrate the wonderful diversity of our capital city. The wider Greene King partnership with Harlequins offered a natural opportunity for us to engage with a new and responsive audience, particularly via social media.”
The #WhatstheStory campaign continues over the coming weeks with captured content shared and amplified across Greene King’s social channels, including dedicated stories from Harlequins rugby players, in addition to a series of consumer incentive prizes, including once-in-a-lifetime opportunities to share pints with Harlequins players, hosted via leading consumer media.
The branded taxi will return for a range of further experiential activities.
The campaign will drive momentum across the year as it continues to celebrate and amplify the very best and most glorious elements of the UK’s capital city.
Greene King, the pub retailer and brewer, was founded in 1799 and is headquartered in Bury St. Edmunds, Suffolk. It employs over 40,000 people following the recent acquisition of Spirit Pub Company. It operates around 3,100 pubs, restaurants and hotels across England, Wales and Scotland. Its leading retail brands include Hungry Horse, Old English Inns, Chef & Brewer and Flaming Grill.
Greene King also brews ale brands from its Bury St. Edmunds and Dunbar breweries, and is the UK’s leading cask ale brewer and premium ale brewer with brands such as Greene King IPA, Old Speckled Hen, Abbot Ale and Belhaven Best.


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Daimler Truck’s all-electric FUSO eCanter has arrived in Scandinavia – Europe’s leading region in terms of sustainability. Two vehicles are now operating in Denmark’s Capital Copenhagen.
The Danish Transport Minister Benny Engelbrecht personally handed over the two FUSO eCanter to the two well-known Danish customers “Citylogistik” and “Aarstiderne”.
Both customers have the goal of reducing CO2 emissions and changing transport logistics within the urban environment. In doing so, the locally emission free FUSO eCanter is just the right vehicle to offer responsible, environmentally friendly logistics and transport solutions.
Christoph Fitz, Head of Sales and Marketing FUSO Europe points out the importance of this customer handover in a new market for e-mobility as a whole: “Urbanization is a major global trend increasing the demand for goods in cities rapidly. Thus, trucks are and will remain an indispensable backbone of society. With every new metropolis in Europe that the eCanter drives in, we make a lasting contribution not only to visualizing the future of logistics in the city, but also to put it through its paces.”
The all-electric light-duty truck is FUSO’s answer to the public’s need for a zero-emission and zero-noise truck for inner-city distribution. It helps to solve the increasing noise and pollution problems in urban environments across the globe. With the handover in Denmark, the FUSO eCanter is already running in nine European cities in Germany, the UK, France, Portugal, the Netherlands and Denmark to deliver better urban living. With a range of 100 kilometres, the 7.49 tonne vehicle is well suited to meet the inner-city short-range distribution requirements of its customers.
The FUSO eCanter is the world’s first all-electric light-duty truck in small-series production. In January 2020, FUSO also delivered four eCanter to two customers in Japan. This means around 150 vehicles are now running with customers in Japan, the United States and Europe. More deliveries are set to follow successively.


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The 2009 Dodge Viper SRT10 Coupe (Ingo Barenschee)
There is no killing the Snake.
The new management at Chrysler Group LLC has decided to keep building the iconic Dodge Viper SRT10, meaning the Conner Avenue Assembly Plant in Detroit won't be shuttered in December, as had been planned.
The Viper was to slither into extinction, having failed to attract a buyer after more than a year of trying and eliciting bids of as little as $10 million for the division that makes a 600-horsepower rocket with an 8.4-liter V-10.
Chief executive Sergio Marchionne and his new management team have been conceiving a future product plan to better define the Chrysler, Jeep, Dodge and Mopar brands.
The Viper's future was first on the agenda, and the new team decided the Dodge halo vehicle should stay, a spokesman said.
The first Viper concept was introduced in 1989 at the Detroit auto show, to much public clamor. Three years later, production began at the New Mack Assembly Plant in Detroit with an aluminum V-10 from the Mound Road plant.
In 1995, assembly moved to Conner Avenue and the engine followed in 2001. The specialized workforce has assembled, almost by hand, more than 25,000 Vipers, at times alongside the Plymouth Prowler roadster.
The Prowler was discontinued, but the Viper proved timeless, with sales spiking every time the automaker tried to kill it.
"The Dodge Viper has successfully captured the hearts and imagination of performance enthusiasts around the globe," said Mike Accavitti, head of the Dodge brand.
"The ultimate American-built sports car with its world-class performance will live on as the iconic image leader for the Dodge brand."


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Integrated payments platform Paysafe is extending its longstanding relationship with Microsoft. As a result, Microsoft will offer an online cash payment option to its customers by enabling paysafecard as a payment option in Microsoft Store in 22 countries across Europe.
Paysafecard is available in 50 countries through a distribution network of more than 650,000 points of sale. It enables consumers to use cash to shop for goods and services online. Payment transactions are completed simply and securely, using a 16-digit code. Via an online ‘my paysafecard’ account, consumers also have the option to combine credit balances. Sensitive financial data such as bank account or credit card details are not required.
Paysafecard: extension to purchases on Xbox console
The collaboration between Microsoft and Paysafe integrates paysafecard as a payment option for individual purchases of digital consumer goods available through Microsoft Store and Xbox.com. It is now available in 22 countries and more countries will be added. paysafecard’s availability as a payment option will be extended to purchases on the Xbox game console in early 2021.
Udo Müller, CEO of paysafecard, says: “Working with a technology giant like Microsoft that offers such a vast variety of hardware and software products that millions of people use every day allows us to reach an enormous new customer base. And for Microsoft, whose mission it is to empower every person and every organisation on the planet to achieve more, having this simple eCash solution as a user-friendly payments option makes them even more accessible.”
Trevor Nies, Sr. Director of Payments at Microsoft adds: “We are proud to enable cash-based customers to access the world of online shopping with a solution that is as reliable, easy and secure as paysafecard. Making Paysafe’s eCash payment solution available to millions of our customers who are shopping for our products online was a logical next step for us.”
Paysafecard was founded in 2000 and is headquartered in Vienna. In 2018, paysafecard developed Paysafecash, with which customers can shop online first and then pay securely for their purchases with cash offline at the next payment point. Paysafecash is already available in almost 30 countries. In 2018, paysafecard reached a transaction volume of more than €3 bn.


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21% of the grocery market across the UK.
According to research by analysts at IGD, the convenience sector was worth £37.5bn out of a total grocery market of £179bn in 2017. This figure is expected to grow by 11.7% over the next 5 years to £42bn as shopping habits are changing, with consumers increasingly turning their backs on the weekly shopping trip in favour of more frequent top-up shops.
With major supermarkets declaring their aim to reduce the cost of all products – both branded and own brand – to their customers by 10%, the growing independent retailers are becoming increasingly vital for manufacturers.
“The key is to take your brand and establish an ongoing connection direct with the retailer be it grocery, garage forecourt or drinks trade. The campaign results are measured both before and after using live data.” – Richard
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Weed is now legal in California
Customers crowded into marijuana dispensaries that opened early in the East Bay on Monday, the first day recreational marijuana became legal in California.
Some dispensaries in Berkeley and Oakland opened as early as 6 a.m. after being licensed in California and their respective cities for recreational sales following the passage of Proposition 64 in November 2016.
Underscoring the new legal status of the herb, a personage no less impressive than the mayor of Berkeley, Jesse Arreguin, attended the ribbon-cutting ceremony at Berkeley Patients Group on San Pablo Avenue.
“It’s an exciting moment. We worked really hard in the fall to be sure BPG was ready to open,” said Arreguin, who cut a green ribbon to officially open the dispensary to recreational sales.
People were waiting outside the door before BPG opened at 6 a.m., and the same was true art Purple Heart Patient Center on Fourth Street.
“We opened at 6 a.m. We had people waiting in line,” said Kell McKenzie, a team leader at Purple Heart.
Reached by telephone around 10 a.m., McKenzie said the store was crowded and the mood upbeat.
“It’s great seeing the new customers and they seem really excited about looking at the products,” McKenzie said.
Oakland’s Harborside dispensary opened at 6 a.m. The Harborside in San Jose opened at 9 a.m. Emails and phone calls to the dispensary and its chief executive were not returned.
While Oakland, Berkeley and San Jose signed off on various dispensaries to begin recreational sales starting Monday, other cities including San Francisco did not approve legislation for it in time for the start of the new year.
In San Francisco’s case, legislation was not signed until early December following lengthy debates over regulatory issues for the dispensaries.
Ultimately, the board opted for a 600-foot buffer zone around city schools and did not institute bans or caps for the number of dispensaries in each supervisorial district.
The City’s existing 45 medical marijuana dispensaries and delivery services will be able to begin recreational sales as early as Saturday.


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The Tom Boonen juggernaut continues to roll on, with the World Champion notching up seven victories already this season. As well as giving Belgian cycling another lift, Boonen is now promoting a range of smallgoods... Sabine Sunderland reports on the latest round of Boonen-mania.
Cycling fever is rising in Belgium and even though Tom Boonen is training on the sunny Côte d'Azur and not on the parcours of Het Volk, the media are heating up the discussion about the next winner of the opening race of the 2006 calendar in Flanders. Tom Boonen's name seems to be named the most as possible winner, and his popularity in Belgium is benefiting the sport of cycling immensely.
Sporza.be reports that everyone wants to be become the new Tom Boonen and they are actually not talking about the other sprinters in the peloton. According to the latest figures, last year no less than 587 kids signed up with a cycling club in Belgium, a considerable growth of 42% compared to five years ago.
Former cycling start Rik Van Looy comments: "A similar progress was noted in tennis over the last years, thanks to the successes of Kim Clijsters and Justine Henin, and currently cycling is profiting from the success of Tom Boonen. Tom Boonen is a the guy of the many victories. He's an example for our youth."
If you really would like to get a piece of Tommeke Boonen, you can now literally put your teeth in. The World Champion will be featuring in the publicity for Fresty Fresh, a new brand of meats, sandwich spreads and sauces produced by Van Baelen NV. Not only the food sector has discovered Boonen as a great marketing tool; he'll also be the face of a telecommunication company and a third endorsement is being analysed.
Click here for the full feature.


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Watch: Raya and the Last Dragon trailer
With coronavirus having closed cinemas for the best part of year, the boss of Disney has said that shorter theatrical windows – the time between cinema and home release – will likely become the norm.
Bob Chapek, Disney's CEO, said that movie fans won't 'have much of a tolerance for a title, say, being out of theatrical for month', before reaching streaming platforms at home.
He made the comments at an online investment conference held by Morgan Stanley (via Deadline).
“The consumer is probably more impatient than they’ve ever been before, particularly since now they’ve had the luxury of an entire year of getting titles at home pretty much when they want them,” he said.
“So, I’m not sure there’s going back. But we certainly don’t want to do anything like cut the legs off a theatrical exhibition run.”
Many studios have decided to take the unprecedented move of releasing movies direct to streaming in the wake of cinema closures.
Although there was early resistance – the row between Cineworld and Universal over the early release of Trolls World Tour among them – it appears that studios are now significantly less bashful about sending new movies direct to people's homes.
The move also fits with Disney's current entertainment focus - Disney+ - which has already seen dividends by expanded many of its franchises onto the small screen rather than the big one, from The Mandalorian in the Star Wars universe to Marvel's WandaVision.
Disney movies like Pixar's Soul and the big budget remake of Mulan have gone straight to streaming in recent months, with the upcoming Raya and the Last Dragon doing the same, via its premium access model.
The lockdown measures battered cinema revenues last year.
The US box office alone slumped a devastating 71%, to $12.4 billion, with the UK box office down by 76% from the previous year.
UK cinemas earned £322 million in 2020, compared with £1.3 billion in 2019.
Watch: Teyonah Parris on WandaVision stunt


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IBM, Microsoft and even Amazon paused their facial recognition programs because this technology is often biased along the lines of age, gender, race, and ethnicity. Even more concerning, evidence suggests that even when facial recognition works as expected, it's often used to surveil people of color. Bottom line: facial recognition and law enforcement just don't mix.
The story doesn't end there, though. Amazon's Ring doorbell cameras pose similar risks, because Ring shares its footage with law enforcement through its Neighbors Law Enforcement Portal, which has been called the "perfect storm of privacy threats."
If Amazon is serious about its new police policies, it must extend its moratorium to include Ring.
Sign the petition to ask Amazon Ring to immediately press pause on its partnerships with law enforcement.
By immediately halting Ring's police collaborations, Amazon will be honoring its own statement that it "stand[s] in solidarity with the Black community — [its] employees, customers, and partners — in the fight against systemic racism and injustice."
The protests surrounding the police killings of George Floyd and Breonna Taylor have highlighted the disproportionate levels of police surveillance used on Black people. Right now, Amazon is collaborating with over 1300 police departments in the United States alone. Ring cameras have already been documented to facilitate racial profiling, and activists have been organizing to protect communities of color from Amazon's law enforcement collaboration.
We are calling on Amazon to make good on its pledge to fight systemic racism by:
- Issuing a moratorium on Ring police partnerships, including with federal authorities.
- Not deploying facial recognition in Ring.
- Ensuring that these actions apply globally, not just in the United States.
Amazon has made the right move with its Rekognition moratorium, and now we’re hopeful it continues to do the right thing.
Will you join us and ask Amazon Ring to immediately press pause on its partnerships with law enforcement?


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AI or BS? How to tell if a marketing tool really uses artificial intelligence
Amid the giddy excitement about artificial intelligence, chronicled in our latest deep dive, columnist Sam Scott cautions us to look twice at some of the big claims about how AI is supposedly remaking marketing.
/ Photo by Michael Dziedzic on Unsplash
Advertisers and publicists know that they can use the phrase “artificial intelligence” to describe software and that almost everyone will repeat it without giving it a second thought. Well, let’s give it a second thought.
A common way to seem trendy is to use a new buzzword to refer to something that already exists. The “cloud” is usually just using someone else’s IT infrastructure. The “blockchain” is just a digital ledger. An “NFT” is just an online graphic design accompanied by the ludicrous proposition that someone can pay to own it.
One of the most recent buzzwords, of course, is the “metaverse.” But it is simply the virtual reality platform of Meta, the company formerly known as Facebook. And VR is nothing new – look up “AI Winter.” From stereoscopic images in 1838 to Second Life in 2003, VR keeps trying to come back, but it is never successful.
Last week, a New York magazine feature by Paul Murray proclaimed the metaverse a “deserted fantasyland.” At the same time, Meta’s commerce and fintech lead, Stephane Kasriel, announced on Twitter that the company would be “winding down digital collectibles (NFTs).”
Mark Zuckerberg himself told his employees last week that now “our single largest investment is in advancing AI and building it into every one of our products. We have the infrastructure to do this at unprecedented scale, and I think the experiences it enables will be amazing.”
And what about all those marketing consultants and influencers who breathlessly proclaimed that the metaverse and NFTs were the future and that all companies should immediately use them or perish?
That sound you heard last week was them switching their Twitter and LinkedIn profiles from proclaiming their expertise in the metaverse and NFTs to artificial intelligence. Even though they have likely never taken a single university course in the subject.
Several marketing software companies have done similar pivots and recently released tools that purport to use AI. But is that true – or are they just using that newly popular buzzword? For this column, I contacted Folloze, HubSpot, Intercom, Prequel and Propel to see. More on their answers below.
What is AI in general?
First, AI is not some superintelligence. Basically, it is a computer program that “learns” and “improves itself” over time by detecting patterns in sets of information and calculating probabilities.
Take the text outputs of the trendy ChatGPT tool. Last month, Stephen Wolfram, the British pioneer in the development and application of computational thinking, explained how it works in a post on his personal website’s blog.
“What ChatGPT is always fundamentally trying to do is to produce a ‘reasonable continuation’ of whatever text it’s got so far, where by ‘reasonable’ we mean ‘what one might expect someone to write after seeing what people have written on billions of web pages,” he wrote.
Put simply, ChatGPT takes an initial prompt and determines – on an individual, word by word basis – what most often comes next based on the existing texts that it has scanned throughout the internet. In Wolfram’s words, “it’s just adding one word at a time” – but doing it so quickly that it seems as though a robot is writing an original, whole block of text.
Essentially, ChatGPT is a gigantic version of Google autocomplete. Here is an example that I did based on what Google suggested as the most common words based on the search for “London is so.”
Here is what my imitation of ChatGPT wrote: “London is expensive because it requires a lot of electricity to run.” (I have not lived there since 2001, when I worked as a bartender and could get a pint of Foster’s in South Kensington for £2.50. So I have no idea if that statement is true.)
What is artificial intelligence on a technical level?
Like “metaverse” and “NFT,” I think that “artificial intelligence” is just a new buzzword for something mundane – in this instance, pattern-recognition software that sees the patterns in whatever trains it and then just repeats those patterns. To me, ChatGPT just sees what words most commonly follow other words and then uses them as well. It just does it very quickly.
But I will be the first to say that I am not an expert. Is my definition of AI accurate?
“I always describe it as ‘matrix multiplication with gradient descent,’ but your ‘pattern recognition’ definition is pretty good,” British technology entrepreneur Dr Ewan Kirk told me in an interview for this column.
Dr Kirk is the chair of Cambridge-based accelerator DeepTech Labs, founder of Cantab Capital Partners, chair of the Isaac Newton Institute for Mathematical Sciences and non-executive director of BAE Systems.
He added: “The one thing it doesn’t capture is its probabilistic nature. It doesn’t quite ‘repeat the patterns.’ What it does is construct the most likely pattern given the inputs. The pattern can be a digit (given a handwritten number, what’s the most likely candidate for the real value), or it can be much more complicated (given a textual prompt like ‘teddy bears programming a computer underwater,’ what’s the image that can be constructed that most closely matches the prompt).”
So, on a basic level, what exactly is AI?
“In technical and scientific terms, it’s generally ‘machine learning’, which uses various complicated and subtle statistical techniques to extract statistical relationships from data,” Dr Kirk said.
“In almost all cases, this involves running a labeled data set (such as lots of pictures of animals labeled with their type like dog, cat, meerkat) many times through an algorithm and tuning the algorithm so that when it has to guess what an image is when it’s not labeled, it gets the answer right as often as possible.”
He added: “For lay people, AI can mean anything from an AI-enabled toothbrush to HAL 9000.”
The FTC is concerned about fake AI claims
The average person might call many things “artificial intelligence,” but the US Federal Trade Commission does not want companies to do the same thing.
“One thing is for sure: [AI is] a marketing term. Right now, it’s a hot one,” it said in a blog post last month. “And at the FTC, one thing we know about hot marketing terms is that some advertisers won’t be able to stop themselves from overusing and abusing them.”
One of the FTC’s concerns? Whether companies are making fake claims that they use artificial intelligence. According to a 2019 report from London venture capital firm MMC, for example, 40% of European “AI” startups that are classified as AI companies do not actually use AI in a material way.
“If you think you can get away with baseless claims that your product is AI-enabled, think again,” the FTC wrote. “In an investigation, FTC technologists and others can look under the hood and analyze other materials to see if what’s inside matches up with your claims. Before labeling your product as AI-powered, note also that merely using an AI tool in the development process is not the same as a product having AI in it.”
The FTC added: “You don’t need a machine to predict what the FTC might do when those claims are unsupported.”
How to tell if a product actually uses AI
How would Dr Kirk see if a company might be fabricating its AI claims?
“The top sign is that the company doesn’t have a background in data science, and they suddenly start talking about AI,” he said.
“Another sign is that when the company talks about AI, there’s no real detail about the benefits of whatever AI they are pushing. If there is somebody selling an AI-enabled toothbrush, ask yourself, ‘Why do I need an AI-enabled toothbrush? What tangible benefits will it give me over my old-fashioned manual toothbrush? Could this ‘sprinkling of magic AI fairy dust’ just be marketing?’ It often is.”
Basically, when a company is selling a marketing tool that purports to use artificial intelligence, marketers should see if the organization has an active data science team. If not, they might have just slapped the term “AI” on a product for the buzzword effect – perhaps just like this Lynx deodorant that m marketing consultant and commentator Tom Goodwin recently saw and tweeted.
Other things to look for
Arif Janmohamed, a partner at Lightspeed Venture Partners, wrote in Fortune magazine in 2018 that “AI incorrectly has become a catchall phrase for anything that has to do with data or workflow. They also tend to liberally throw around 'algorithm,' a word often associated with AI. But just because a system has algorithms that drive certain outcomes doesn’t necessarily mean it is AI.”
In response, Janmohamed suggested that people ask these questions: do the people claiming to be AI experts have experience taking on huge AI challenges, to the point that they have an extreme advantage over competitors? Do they understand the intricate technical details of what it takes to build an autonomous system? Are they attracting the talent to attack the market?
Writing in The Enterprisers Project, a community for chief information officers and IT leaders, in 2020, Stephanie Overby described these signs of “AI washing”: the product requires minimal data for training, the "AI" needs business rules in order to work, there is a notable lack of case studies, the solution does not get better over time, the staff is light on AI talent, and there's no clarity about how the AI works.
The best question to ask
Several martech companies have recently released new tools that purport to use artificial intelligence. But do they really do so?
Folloze has an AI content recommendation and buyer insight engine. HubSpot has a Chatspot and Content Assistant. Intercom has three features: a composer AI, conversation summarization, and article generator AI. Prequel has an Artique AI advertising and marketing graphics platform. Propel has an AMIGA AI Assistant for PR.
In 2017, Galen Gruman, executive editor of the tech publication InfoWorld, wrote that the quickest way to see if a tool or software is truly using AI is to ask whether it can learn and adjust on its own without a software update.
So, I asked spokespersons for those five martech companies Gruman’s specific question. I have put their responses in alphabetical order in full below so that readers can judge for themselves.
Folloze: “[Chief product officer and cofounder David Brutman] said yes, the model is adjusting the recommendations based on additional behavioral data captured.”
HubSpot did not respond to my request for comment on that specific question.
Intercom: “Our Inbox features powered by GPT-3.5 use it in a stateless way. We don't update the GPT-3.5 model weights. However, the context that is in the prompts to GPT-3.5 varies depending on the user context, and so is customized. Additionally, we have version 2 features that are currently in testing and will get better as there is more customer support data available. These also don't fine-tune the model however; pretty much no one is fine-tuning GPT-3.5 or GPT-4 models...these features aren't generally available yet. But the system overall will learn and adapt.”
Prequel: “I do not believe so.”
Propel: “Yes, the solution can learn and adjust on its own. Amiga utilizes the constantly updating pitch data from Propel's proprietary dataset. In addition, because Amiga leverages Open.AI's API, and because of the nature of that API, the AI is constantly learning and evolving.”
What marketers should remember
But it is not just potentially exaggerated claims of using AI that bothers me. First, it is that we are heading towards a world that will lose all creativity and become extremely boring. Basically, AI finds the most prevalent existing patterns and commonalities and then reproduces them quickly and cheaply. It cannot create anything completely new and original.
An obsession with “optimization” is already making all advertising and music sound the same. Alex Murrell, strategy director at the British brand agency Epoch, also recently published an essay entitled The Age of Average in which he shows how everything from apartment interiors to coffee houses to architecture to people to media to brands all look the same.
Now, to borrow a good line from a recent Farnam Street blog post, tools such as ChatGPT are merely creating “average writing available on demand.” And never forget what David Abbott said: “Shit that arrives at the speed of light is still shit.” Even if it is created by AI.
Second, AI will mean that what we see online will increasingly be fake.
Third, it seems that many AIs are getting trained on and using others’ intellectual, creative property without any due payment. Take AI Seinfeld, which is a Twitch stream called Nothing, Forever that debuted last month and plays supposedly AI-generated content based on the famous 1990s US sitcom. Did NBC, Jerry Seinfeld or Larry David get paid for that?
Stanford University’s Center for Research on Foundation Models announced this month that they had basically cloned ChatGPT to create Alpaca GPT for a mere $600. But isn't that what AI always does anyway? Get trained on and recreate others' intellectual property for cheap or free?
Creative technologist Paul DelSignore also recently reminded us on Medium that companies do not own anything that they create with AI tools. Patent offices will not register such material because it is created by machines, not humans.
Regardless, remember that the metaverse has just been Meta and Facebook’s individual virtual reality platform. Everyone who talked about the “metaverse” instead of “virtual reality” was doing the company a favor. The same is true when people talk about a company’s “AI” without verifying it.
This is why the marketing industry should never be cheerleaders by repeating buzzwords and accepting technical claims without having independent technical experts review those claims. Just because advertisers and publicists tell you that something is using artificial intelligence does not make it so. Just see this tongue-in-cheek Havas Tel Aviv ad for the Israeli convenience store chain AM:PM.
AI is the new metaverse is the new NFT is the new Clubhouse is the new podcast is the new personalization is the new brand purpose is the new blockchain is the new chatbots is the new growth hacking is the new agile is the new Pokemon Go is the new QR code.
Or as Dan Ariely, a professor of psychology and behavioral economics at Duke University, once put it in the context of another recent fad: “Big data is always like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it.”
The Promotion Fix is an exclusive column for The Drum contributed by Samuel Scott, a global keynote marketing speaker and head of marketing at the IT mapping platform Faddom in Tel Aviv. His opinions are only his own.


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Both Paytm and Airtel assume leadership position in terms of the number of tags issued last month. Can they create new use cases on top of this?
Payment banks, which have not been able to establish a profitable business model, may have found a life saver in the form of FASTags.
In an interesting twist, Paytm as well as Airtel Payment Bank have emerged as the largest issuer of tags for the month of January, giving tough competition to full scale commercial lenders active in this business.
While for Paytm the leadership position in this business is not new, Airtel's ascension has come as a surprise.
The question is whether payment banks can leverage these FASTag wallets and create diversified use cases on top of them. At present, these closed loop payment instruments are being loaded only for highway toll payments but the government wants to extend it to payments for parking in the future. In this way, more use cases can be brought in.
The biggest question for wallets was how to get users to park larger funds in these instruments and FASTag in a way solves that problem. Further, it also brings in people with higher spending potential into the wallet ecosystem. These customers own private vehicles or are fleet owners getting acquired at almost zero cost for these wallet companies.
"FASTag is a very high frequency use case and is a high value product, our FASTags directly connect to the wallet as a funding source thereby driving growth for the payment bank in turn," said a Paytm Payments Bank spokesperson.
Paytm has sold over 35 lakh Fastags and has set a target of 50 lakh by end of the current financial year. It further claimed to have a share of more than 40 percent of all the tags issued last month.
On the other hand, Airtel, which started on a slow note, issued more than 2.8 lakh tags in January overtaking other banks. Thereby, the total number of tags issued has reached 6 lakh. Paytm now has a more than 20 percent share of the 1.4 crore FASTags issued overall, while Airtel's share has gone up to almost 5 percent.
Commercial banks are very close in terms of the number of tags issued and capturing the value of transactions flowing through their systems. ICICI Bank seems to be the clear winner on this front.
"We have issued over 30 lakh FASTags. The bank customers' FASTag spends grew to Rs 610 crore last month and transactions at ICICI Bank acquired toll plazas jumped to Rs 720 crore in January," a spokesperson of ICICI Bank said.
Besides, the 214 toll plazas already acquired by the bank, it is also targeting state highways like Mumbai Pune Expressway, Agra Lucknow Expressway and others.
Another private sector lender Axis Bank, which is also actively pushing the FASTag business, has issued over 16 lakh tags.
"A total count of 70 lakh in December 2019 and 1.1 crore transactions were received in January 2020. Almost 150 percent increase in the value of transactions is noted through Fastag from November last year to January for the bank," said Naveen Tahilyani, head- banking operations and transformation at Axis Bank.
After all these tags bring in huge sums of money at the end of the day into the babnking ecosystem. As per data released by NPCI, in January alone Rs 1600 crore flowed through the Fastag platform, this number was Rs 1200 crore in December, thereby showing a jump of more than 30 percent.
"This float is the main reason why banks are pushing hard for digitising toll plazas, if payment banks can corner a significant chunk of this float, it will open a big business opportunity for them," said a top executive at a payments bank.
Except for Fino Payments Bank, which had a strong use case for rural payments and remittances, the other payment banks have not been able to create a unique business case. While the largest payments company Paytm has managed to become synonymous with digital payments and fintech, the other telcos have been extremely slow in the banking business. India Post has openly spoken about its desire to move into small finance banking while NSDL has not done much in payments. Closed loop payment instruments can perhaps bring a new lease of life to the payment banking business."We are looking at ways to push adoption of Fastags at fuel stations and even for so many other forms of payments where a vehicle is involved, but these are still early stages but this instrument has enough potential," said the banker quoted above.
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2020 has been the biggest year for podcasts for Spotify
In one year, from September 2019 to June 30, 2020, the number of podcasts created on Anchor has increased by more than 380%. Launched in 2015, Anchor is a free platform for podcast creation and distribution. It was acquired by Spotify in February 2019 and operates as a subdivision of the streaming company.
Spotify is doing a few fun things to mark the day There is an Instagram filter for International Podcast Day and the top 5% podcast listeners in English-speaking countries will receive special notifications letting them know that they are in the top 5%.
Spotify is also releasing a Best of 2020 So Far podcast playlist full of this year’s top pods, handpicked by Spotify’s editorial team.


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Updates and new launches: Time Inc. launches NOOK Color version of Real Simple; The Tennessean gets a quick update; Apple updates its own iBook app
A few months ago Time Inc. made it clear that for them the future would include tablets when they promised that the company would “launch tablet editions for its entire portfolio of 21 titles by year’s end.”
And the reason for that commitment couldn’t have been clearer, either: “Having our entire portfolio available on tablets will create a significant new digital reach for our advertisers,” said Maurice Edelson, EVP at Time Inc.
Time Inc. says that so far more than 11 million copies of their digital magazines and apps have been downloaded, resulting in over 600,000 single copy sales (this doesn’t include the number of times their print subscribers have logged into their accounts to access the digital versions of their print magazines).
Today the publisher announced that it had just released its November issue of Real Simple for Barnes & Noble’s tablet, the NOOK Color. “Our consumers have been asking for Real Simple on NOOK Color, so we are very excited to make this announcement,” said Kristin van Ogtrop, Managing Editor of the magazine.
But the announcement also makes clear that the November issue that NOOK owners will find on their tablets contains all the same advertisers that can be found in the print edition. Time Inc. lists Campbells, The Container Store, Estee Lauder, JC Penney, Kia and others as appearing in the issue.
“Our advertising partners are always looking for new ways to connect with our consumers, so we’re thrilled to bring Real Simple to NOOK Color – and soon, to all major tablet platforms,” said Evelyn Webster, Executive Vice President, Time Inc. Lifestyle Group.
Last week I wrote about the new iPad edition of The Tennessean, the Gannett newspaper. I wasn’t thrilled with the fact that the digital product appeared to have no business plan, any strategy that would allow it to make any money. I also said that the app seemed to have performance issues.
Well, I see that the app has received an update today. The “What’s New” section clearly states the reason for the update: “Made numerous bug fixes to enhance stability.” Good for them.
If you have as many apps as I do (you really have no idea), then your iTunes account will be filled with updates over the next few days as developers ensure their apps become iOS 5 compliant.
Apple, too, is issuing updates. This afternoon it issued an update for iBooks.
Wunder Radio is one of the apps now showing an update. It lists iOS 5 and Twitter integration as reasons for the update. This morning I mentioned that not apps are performing the same under iOS 5, which I’ve had on my iPhone for the past week. The AOL Radio app, I mentioned, would not continue to play when the display went to sleep. I would expect an update of that app soon, assuming they read TNM, of course!
The WSJ has updated its new WSJ Live apps, but, get this, the reason for the update, the app description says, is “watch our WSJ Live Commercial”. Guess I’ll wait to update that one.


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TraFon Group looks to expand while maintaining high-value, low-cost structure in an ever-changing market.
Puerto Rico has experienced a dynamic demographic shift over the past decade even as importers and distributors such as TraFon Group feel the pressure to maintain competitive pricing while the island remains in a recession. As a result, TraFon Group has put greater emphasis on building its Caribbean Cold Storage & Logistics business to meet evolving market needs.
“Puerto Rico has lost 500,000 consumers over the past 10 years and the demographics as a whole have changed,” Senior Executive Vice President Javier Pietrantoni explains. “This change brings about a shift in consumption patterns in the market, both from a retail and foodservice standpoint.”
Competitive pricing is key for TraFon Group to maintain its marketshare. The company services 38 customers in Puerto Rico through its cold storage and logistics business, handling more than 1,200 containers per year. “It’s become an important business for us,” Pietrantoni adds. “By adopting a competitive strategy centered on providing stakeholders a unique platform to benefit from our economies of scale, we are able to deliver service solutions that create value to our customers.”
The Merchant Marine Act, also known as the Jones Act was enacted in 1920 and requires that all goods transported by water between U.S. ports be carried on American-made ships with an American crew. “Limiting the competitiveness of ocean carriers to bring cargo to Puerto Rico makes the cost of transportation expensive,” Pietrantoni says. “Twenty years ago there were more than 10 ocean freight companies. Two years ago there were four or five and today there are three. With only two transport reefers available, importing frozen or refrigerated products is very pricey. It’s critical to optimize the container, so understanding the subtleties of inland and ocean freight costs is imperative in the formula for success.”
TraFon Group continuously evaluates the individual cost components of its operational activities and compares it among all players in the market to benchmark its cost structure. “By deconstructing our value chain, we were able to identify opportunities to become a more efficient operation. In that process we are able to bridge opportunity with viable service solutions. We provide a differentiated value proposition from a cost standpoint and are able to share the benefit of economies of scale with our customers,” Pietrantoni explains. “We can do that because of our volume, size and processes. If you are in the logistics business, besides being able to provide excellent service and deliver a high-quality product in a timely manner, the only other differentiator is cost. We maintain our cost at a level that gives us a competitive edge.”
If the Jones Act were not in place and TraFon Group could utilize any carrier, Pietrantoni says it would cost companies and the end consumer less for the products purchased. “Puerto Rico imports about 90 percent of what it consumes, so the Jones Act creates an unnecessary inflationary cost. Today, ocean freight rates from China are almost half when compared to ocean freight rates from Jacksonville, Fla.” he adds.
TraFon Group, through its Packers Provision business, has been the island’s exclusive distributor of Chobani since January 2016 and by June, sales had already exceeded the company’s expectations. “In Puerto Rico, there wasn’t a developed Greek yogurt category,” Pietrantoni explains. “There was a clear market space for consumers craving a high-quality product.”
As the population’s attitude toward food changes, Packers Provision is focused on identifying – from a sociographic and socioeconomic perspective – where the opportunities are in the market. “That’s how we go about evaluating the different brands we distribute,” Pietrantoni says. “Consumer patterns, attitudes, behaviors, needs and wants, the size of the market and whether the category is trending up and down – there are needs not being attended to.”
Packers Provision partnered with Chobani after seeing how the Greek yogurt brand took over the category over the past six to seven years in the United States and felt the model could be replicated in Puerto Rico. “We invested heavily on the launch of Chobani by hosting promotional and sponsorship events, tastings and media investments,” Pietrantoni says. “We launched in January and in June it covered our sales plan for the year. It doubled our expectations.”
Chobani is a good fit for Packers Provision, Pietrantoni says because the companies share a lot of the same values. “As a company, from its founder down is an exemplary company to do business with,” he adds.
TraFon Group and its Packers Provision, Caribbean Cold Storage & Logistics and Star Meat business operations rely heavily on its warehouse and truck management systems. “The system provides us with all the necessary data to be efficient,” Pietrantoni says. “When we receive product, the system tells us to what location that pallet has to go in the warehouse and rotates product accurately.”
Trafon Group operates on a first-in or first expiration date/first-out system. Once all the product information is entered into the warehouse management system, product moves in and out depending on those details. Its hands-free voice recognition system allows pickers to call out an order number and the system will tell them where in the warehouse to go and the number of cases to pick. “It makes the process paperless and efficient,” Pietrantoni says. “Our error rate is reduced to basically zero and we have eliminated the cost of miss picks.”
The truck management system allows Trafon Group to optimize cases or pallets in its trucks for delivery, which is vital because the company’s fleet is almost at full capacity. “All those different pieces and parts make the operation more efficient,” Pietrantoni says. “The processes and systems are in place for a very versatile and effective system.”
Moving forward, TraFon Group looks to continue expanding its customer base and portfolio of brands focusing on healthy, natural and organic products. The company expects volume to continue to increase and plans to expand or move into a larger facility. TraFon Group also plans to increase its fleet of 50 trucks by about 30 to 40 percent. “We are almost at 100 percent capacity,” Pietrantoni adds. “All 50 trucks go out every day, so we need to expand our capacity.”


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Blending tradition with innovation in the next-gen vending landscape
The future of retail is evolving at a rapid pace, and the same is apparent in the vending industry. Vendingland, a leading European vending machine operation and service company, has been at the forefront of this transformation, leveraging data and technology to offer exceptional customer experiences. We spoke with Niels van Noort, CTO of Vendingland, to gain insights into how they've tapped into Selfly Store's intelligent vending machines and cloud data to supercharge their business.
Vendingland’s journey into intelligent vending
Vendingland started out 17 years ago as a family-owned business within the traditional vending and coffee machine sector. In 2019, the company expanded its offerings to include intelligent vending machines, smart fridges, from Selfly Store. The intelligent machines opened new avenues for Vendingland to supply a broader range of products like fresh food and juices not previously possible with the traditional machines. The COVID-19 pandemic further accelerated this shift, as businesses increasingly sought 24/7 flexible food services, a need traditional catering couldn't fulfill as readily.
Today the company comprises around 60 employees and has grown significantly over the years. Data has always been at the core of the operations and has ensured Vendingland can optimize their business and drive efficiencies. Despite doubling their business over the last few years, they haven't had to add any new employees. "We analyze data to manage more machines with as few people as possible," says Niels.
Becoming a data-driven company
One example of how Vendingland works with data is related to the discovery of issues and problems. As one of the pioneers at that time, Vendingland started using QR codes on their machines to manage malfunctions more efficiently about 12 years ago. Previously, when a machine malfunctioned, the technical team had to manually verify each machine in a building, wasting precious time and resources. Vendingland's implementation of QR codes was a game-changer. Each machine was assigned a unique QR code. Whenever a machine faced a malfunction, consumers or building personnel could quickly scan the QR code, which instantly sent a notification to Vendingland's central system, detailing the exact machine location and its issue. This data allowed technicians to address the problem without delay, improving machine uptime and customer satisfaction. Today QR codes have become a best practice amongst many vending companies. And today, when Vendingland is operating on increasingly intelligent technology, they get automated reporting and alerts as soon as machines themselves discover any issues, for example with a rejected payment.
Another example of how Vendingland has pushed the boundaries in becoming data-driven is how they have evolved their replenishment process with help of data. “Initially, we worked with static picklists. For instance, if we aimed to restock 10 cans of cola for a machine, we'd prepare 10 cans on the picking day. But often, a few days later, by the restock day, a few slots would already be empty due to interim sales. Recognizing this, we began analyzing sales data and adjusted our replenishments. If we're picking the products on a Monday, but doing the replenishment on Wednesday, we now account for sales during those days. This ensures that when we arrive for replenishment, the machine is optimally restocked. By embracing this approach, our machines remain consistently full, and we've been able to cut back on replenishment trips, sometimes halving them from four to just twice a week”, Niels explains.
Read the other blogs in the series here:


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11th November 2020
UK government still hasn’t produced a lorry drivers’ guide
Jack Ma, the world’s most successful retailer and possibly China’s most successful businessperson ever, was brutally shown on November 4 how the country really works.
The Shanghai Stock Exchange said in a statement that Ma, who founded Alibaba, had been called in for “supervisory interviews” over his planned $37 bn flotation of Ant Group. The summons followed his public complaint that the Basel Rules, the world’s international banking supervision framework, “are like an old people’s club . . . we can’t use yesterday’s methods to regulate the future”
“This material event may cause your company to fail to meet the issuance and listing conditions or information disclosure requirements,” the Shanghai Exchange said, “Our exchange has decided to postpone the listing of your company.”
The instruction is thought by many to have come from the very top of the Chinese government, potentially from President Xi Jinping himself.
Though the exchange cited “other major issues”, including changes in “the financial technology regulatory environment”, Ma’#s real offence seems to be using the language of almost all Western financial managers wanting to get quoted in a country where only the government decides who gets publicised.
The decision slows down the growth of Ant, widely expected to have achieved a valuation of $300 bn: about the same as JP Morgan Chase. Ant had taken just 16 years to develop from a payments app invented by Ma’s Alibaba platform.
While Western corporate strategists fantasise about digital retailers dominating the universe, Ma really has managed to create a financial outcrop of his retail business. Ant had about half of all China’s third-party payments market in the first quarter of 2020.
Westerners fear its arrival on their turf, while China’s government is happy to trim its wings if it wants to get too big. The lesson seems clear: no-one in China, except Xi, is too big to be told to fail.


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Since its Black Sea ports were essentially shut down last month, a third of Ukraine’s agricultural exports have been destroyed, demonstrating the success of the Kremlin’s attempts to stymie food shipments from the nation.
Even with a €1 billion drive by the European Union to develop alternate channels since the beginning of Russia’s invasion, the decline represents a serious setback for the economy of Ukraine and world food security. This week, the US announced that it is collaborating with its European allies to maintain the flow of grain exports, depending on rivers like the Danube and other routes once sea passage has become unsafe.
According to Evghenia Sleptsova, senior economist at Oxford Economics, “the river ports are the key question.” However, increasing the flow through those would be challenging because “now Russia started bombing Izmail and Reni,” two Danube ports that were assaulted earlier this week.
According to projections from analyst UkrAgroConsult, Ukraine was only able to export 3.2 million tons of grains, vegetable oils, and meals in the four weeks leading up to August 15 compared to 4.4 and 4.8 million tons in May and June when the Black Sea agreement was still in effect. Better-than-expected harvests will now likely result in larger crop stocks during the following year as there will be fewer routes to market.
Even in times of war, Ukraine is a significant exporter of grains, and the Black Sea agreement that Russia abandoned on July 17 contributed to stabilizing market prices and maintaining consumer flows. The weakness of Ukraine is helping Russia’s own grain trade. Its agricultural exports are rising and are anticipated to account for about a quarter of the world’s wheat trade in the 2023–2024 growing season.
In a sign of how difficult it has been to identify dependable workarounds, Ukrainian President Volodymyr Zelenskiy stated that seven drone and missile strikes on ports had already occurred within a month of the grain deal failing.
Additionally, there are logistical challenges. According to Alex Lissitsa, a member of the board of the Ukrainian Agribusiness Club, certain cargoes now take four times longer to reach the Danube than they did a month ago due of traffic bottlenecks.
Higher transportation expenses are partly a result of the delays and lower shipment quantities. Even before the grain contract fell, Olena Vorona, operational director at the supplier Agrotrade Group, said that her company totally reoriented flows to Danube ports and trains. However, shipping prices have increased by up to 50% as a result.
According to Lissitsa, “farmers in many regions will probably consider reducing the sowing of winter cereals because the prices offered by the market do not cover the costs.”
The train company in Ukraine reported that the current wait times at border crossings with European nations are around 5 to 6 days. Yevhen Lyashchenko, its CEO, told Bloomberg that the company is geared up for a rise in rail exports.
But it’s possible that won’t be enough to prevent a worse downturn. According to Sleptsova of Oxford Economics, the second half of the year might witness a 25% decrease in the exports of grains and oilseeds from Ukraine.
“That would be a 3% drag on Ukraine’s gross domestic product in the second half of the year,” she said.


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Whistleblower LeaksApplePro has this time got us something on Apple’s most looked-for product for a decade now- the Apple Car. Codenamed Project Titan within the company circles, the development of Apple’s first automobile is up and running, as the leaker was quoted in Taiwan’s Economic Daily. Going at the current pace, fans can expect the car’s release in 2025 or even by the end of 2024.
Apple car key features
More than 1000 engineers are breaking their necks in shaping up what the company considers the biggest thing it has ever worked on. Apple is truly going the extra mile, by driving cars in California to test and gather data for the LiDAR sensors it got manufactured and installed in these custom-made cars in collaboration with Lexus.
The vehicle would be cast in high-quality titanium alloys. With the use of this premium material, the company plans to offer the same aura that it plans to grant to its Pro iPhones and other devices.
Apple Car price
Apple is yet to grow its reputation as a car manufacturer and it would make sense if it targets a market that automobile giants like Tesla are not dominating. It is time till the company can rival Tesla at a competitive price, and all odds suggest that Apple’s first automobile would be launched in the high-end market for $100,000 and above. And the car would cost a notch expensive if you do not already own an iPhone. The report says that the Apple car would not have a physical key but would instead open with your iPhone handset.
Information coming through multiple sources hints that the company aims to start production of the car by late 2024 or 2025. That, however, does not guarantee a launch in 2025 itself, as mass-producing a car takes way longer than what an iPhone or an Apple Watch would take.