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The Hyatt hotel chain has revealed recently that 250 of 627 of its properties worldwide were infected with money-stealing malware. Customer financial data may have been compromised, as well.
The malware in question was designed specifically to steal financial data, including: cardholder names, card numbers, expiry dates, and the internal verification codes used to verify on-site transactions.
Hyatt hotel chain hit by financial malware; how to prevent such things? #protectmybizTweet
According to a statement issued by the company, the malware harvested credentials as they passed through Hyatt’s infected payment processing systems. The information-stealing malware was active between August 13 and December 8, 2015, but some locations may have been infected as early as July 30, 2015. Fifty-four countries, including the US, UK, Germany, Russia, France, and Japan were affected, ZDNet informed, providing a link to a global list of compromised sites. If you visited one, chances are you may be a potential victim.
This is clearly a “fail” case, but is it unique?
It is not
The Hyatt chain doesn’t look to be the only victim. Just the most recent. Last November, Hilton hotels reported a very similar cyberattack: hackers infected some of its point-of-sale computer systems with malware crafted to steal credit card information.
Four days prior to Hilton’s revelations, Starwood Hotels said its payment systems in 54 hotels have also been infected with credit card data “harvesters”.
Earlier in 2015, Mandarin Oriental chain discovered malware in its payment processing. Somebody had also been “collecting” credit card data from The Trump Hotel Collection between May 2014 and June 2015.
So, as we can see, attacks on hotels are not anywhere near unique. Unfortunately. We have previously addressed cybersecurity in hotels worldwide – in relation to Darkhotel APT, at least, and there’s really room for improvement, which is clearly shown by these attacks upon the world’s leading hotel chains.
Late in 2014, we covered cybersecurity issues in the hospitality industry, and there are lots of them aside from malware in payment systems and/or APTs targeting the top-tier residents; attacks upon the payment processing, apparently, is the most immediate problem, as a lot of people and businesses appear to be at risk.
Hotel chains have been hit before. Attackers want to be “close to money” #protectmybizTweet
What can be done against such incidents?
There are a number of cybesecurity tools and approaches available which can help the hospitality industry to prevent such disastrous experiences like that of Hyatt and others.
First of all, wherever significant volumes of personal, financial, or other sensitive data is involved, policies covering data storage and access should be especially strict. Properly set data access rules are a very significant part of establishing secure environment. Then there are the practical applications:
- Data storage security should be a top priority. This includes File Level encryption, Portable Storage encryption and perhaps even Full Disk encryption. All three are available as part of Kaspersky Endpoint Security for Business Advanced. Take a look on our whitepaper describing our approach to encryption as a security measure.
- Restrict access to the web and the use of personal storage. For this, Web Control and Device Control are available in Kaspersky Endpoint Security for Business (tiers Select and Advanced).
- Restrict the use of unsolicited applications, even considering a Default Deny scenario for certain endpoints (such as reception), whereas running any software which is not in the permitted list is denied – by default, apparently. Default Deny may seem complex, however, at times it’s the only way to ensure the necessary level of security, especially when critical data is in question. Also, the limited number of tasks undertaken by the users of such endpoints makes this scenarios less complex to deploy. Application Control technology allowing the Default Deny scenario is available in Kaspersky Endpoint Security for Business (tiers Select and Advanced).
More information on Kaspersky Endpoint Security for Business is available here.
The cases of top hotel chains, as well as earlier attacks on payment systems of large retailers, make it obvious personal data and payment systems require strong protection (in many cases, it should be stronger than it is now). The right approach and the use of proper technologies is a sort of insurance against massive data leaks and the reputation damage that would follow. And a reputation’s cost is very high everywhere, especially for businesses processing other people’s data and payments.


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Huddle.net, a developer of collaboration software, has created an application for the LinkedIn social networking site. The Huddle Workspaces product offers private online workspaces for secure team collaboration, document sharing and discussions within the LinkedIn network. The company said users receive 1Gb of free storage and can collaborate with unlimited connections.
Andy McLoughlin, co-founder and product director of Huddle.net, said the product could be used to brainstorm ideas and quickly exchange useful pieces of information while banishing confusing "reply-all" e-mail threads.
It includes document management tools that allow users to share files and create and edit documents online in .doc and .xls format. Huddel said users can post comments on files, request approvals and send notifications. Documents can be locked and checked out of the system for offline editing.
Huddle is one of a number of applications launched as part of the LinkedIn Intelligent Applications (InApps) platform, which has been designed to help companies develop professional applications for LinkedIn's 30 million members. The platform also includes applications from Amazon, Box.net, Google, Six Apart, SlideShare, Tripit and WordPress.

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Samsung announced its first Tizen powered Smartphones, the Samsung Z, early last month and said it will be available in Russia as from this month before hitting other markets. Up until this point, the Samsung Z has not been seen anywhere and even the July 10 date Samsung had set for it to go on sale passed without any news.
Samsung came around saying that it had delayed the Smartphone because Tizen doesn’t provide a full portfolio of applications. Without the full portfolio of applications the platform may not attract that many users.
Samsung hopes to solve the apps issue rapidly and for the Samsung Z to hit the market before the end of this quarter.
Even as Samsung announced the Tizen powered Smartphone last month, we did not get to see the device in flesh until now. The photo that we currently have is for the golden version and was taken at the Tizen Developer Summit in Russia. I can say the phone looks good even better than the press images Samsung released last month.
Samsung has still not confirmed the price of the phone.


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New smartphones including the return of BlackBerry and Nokia will be among the major announcements made at Mobile World Congress next week.
The technology convention is expected to be dominated by the return of Nokia - now owned by tech firm HMD Global - which will reportedly reveal at least two new smartphones, and rumours suggest a revamped version of the famous 3310 mobile phone could also be unveiled.
Fellow tech giant BlackBerry is also expected to use the Barcelona convention to announce a new Android smartphone.
Both companies have dominated the mobile phone industry in the past, but have all but vanished from the market after being usurped by the smartphone revolution led by Apple and Google
MWC is traditionally used by some of the biggest smartphone manufacturers - including Samsung, HTC, LG and Sony - to reveal new flagship devices, although Samsung and HTC are not expected to announce anything major at this year's show.
HTC recently revealed its new U Ultra and U Play phones, while Samsung is said to be taking time to perfect its next phone after the Note7 battery fire incidents last year.
Ben Wood, from analyst firm CCS Insight, said the lack of an announcement from Samsung is an opportunity for others at the show, which runs from February 27 to March 2.
"Historically, Samsung has used the event as the launch pad for its latest high-end phone. This year, the launch of its flagship device will come later, giving other manufacturers the chance to grab the limelight," he said, adding that larger screens and better cameras are expected to be a popular theme among manufacturers.
"Every phone-maker will be hoping that its latest Android device will stand out in the sea of smartphone sameness. We expect the big trend is going to be smaller bezels - it's going to be all about taking stunning screens right to edge of devices.
"In addition, we believe dual cameras and biometrics such as fingerprint and iris recognition will play big at the show."


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As the premiere U.S. annual event in Applied Power Electronics, APEC focuses on the practical and applied aspects of the power electronics business. More than 5,500 professionals from around the world attended this year’s conference, featuring more than 300 exhibiting companies with 50 countries represented.
Gallium Nitride, GaN, was at the center of many discussions at the conference. For myself and my GaN Systems’ colleagues, the industry momentum is exciting. Here are my key takeaways from APEC 2019.
1. Big Picture: This Year Versus Last Year At APEC
- This year, the conversation was all about GaN and SiC. Mostly GaN from what I saw and heard from attendees.
- No longer is the GaN conversation about “if or when”. Clearly, it’s “now.” Most all of the established GaN suppliers demonstrated use cases with products and customers. WBG semiconductors, particularly GaN, are now being used and in production.
- Significant reduction in the number of people asking how, whose driver, etc. Clearly, engineers have gained experience and are now optimizing designs rather than experimenting.
- The GaN ecosystem is much stronger. Drivers and magnetics, along with a much better understanding on how to use them – is clearly visible.
2. Wireless Power/Wireless Charging
- There was a lot to talk about around wireless power at APEC this year. I was happy to see that it is taking hold in applications beyond just the mobile phone.
- The sessions we attended focused on optimizing the electronics and coil design were very informative. From wearables to e-bikes and from underwater to EV, it was all covered in great detail.
- At APEC, we had an opportunity to demonstrate power capability from 50W to 1000W, showing that nearly any device, regardless of power level, can be wireless powered.
3. Proof Points – GaN is Happening NOW
To reinforce the point that GaN is no longer “if or when” – the APEC committee designated a track solely to the commercialization of the technology. Several companies presented case studies of customers using their product.
- In the Industry Session IS16 on 21 March (‘GaN E-HEMT Performance and Reliability in Datacenter, Solar, and Wireless Power Production Systems’), CEO Jim Witham and executives from leading companies described the importance of using GaN power semiconductors in their applications:
- Japanese automotive supplier Denso spoke about the paradigm shift happening in the transportation market and how smaller and lighter electronics using GaN enable 80% smaller electronics and lighter electric vehicles.
- Sonnen, a behind-the-meter energy storage solution provider, described the challenges they faced in creating their next-generation products and the improvements made by GaN, including decreasing the bill of materials (BoM) cost by 8%.
- Supermicro Inc of San Jose, CA, USA (which provides high-performance, high-efficiency server technology) explained how increasing data-center efficiency is reducing the total cost to the environment (TCE) and total cost of ownership (TCO) of data centers.
Overall, a great conference and exhibition. Be sure you save the date for next year.
By Paul Wiener, VP of Strategic Marketing for GaN Systems


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The Plymouth branch of running gear chain Sweatshop is to close – but the brand will continue inside the city’s huge Sports Direct store.
Staff at the Sweatshop unit, in upper Cornwall Street, have been told the store is expected to shut by mid-December 2017.
They are currently staging a “closing down” sale which sees goods being sold at anything from 10 per cent to 50 per cent off.
But the six workers are expecting to be relocated just a few hundred yards down to the cavernous Sports Direct emporium in lower New George Street.
That store already has a Sweatshop section inside it, and it is expected this will be expanded.
The Sweatshop Running Community (SRC) running club, which sees up to 50 staff and customers pounding pavements every Monday and Thursday, is also predicted to continue from the new location.
The Sweatshop business was founded by famous Olympic gold medallist Chris Brasher in 1971 but only opened in Plymouth in 2011.
In 2014 Mike Ashley’s Sports Direct behemoth became the majority shareholder in Sweatshop, leading to some commentators to predict the smaller chain would be swallowed whole.
The Sweatshop branch in Bournemouth closed in September 2017, the one in Norwich shut in June 2017, but there are understood to be 19 outlets still open, including, for now, Plymouth’s.
“We are closing,” said Samuel Harrison, assistant manager in the Cornwall Street store. “But we are still awaiting confirmation of the definite date, but it will be mid December.
“We’ve moving into one unit inside Sports Direct. It’s early days but we have been told no one will lose their jobs.
“But whether all six will move depends on each individual.”
Mr Harrison said a “small store” had been operating within Plymouth’s Sports Direct outlet for about six months, and it was expected this would expand.
“The plan is to grow one by closing the other.”
Sweatshop was founded by Mr Brasher, the famous pacemaker for Roger Bannister when he ran the first sub-four-minute mile in 1954.
Mr Brasher then won gold in the 3,000 metres steeplechase at the 1956 Summer Olympics in Melbourne, Australia.
He was also one of the pioneers of orienteering in Britain and founded the London Marathon in 1984. He died in 2003.
The first Sweatshop branch was in Teddington, under the original name of Chris Brasher’s Sporting Emporium.
It changed its name to Sweatshop in 1978.
Sweatshop was voted best retailer by readers and website visitors of the British edition of Runner’s World magazine each year from 2008 to 2013.
The store targets novice runners and experienced athletes, with staff often runners themselves.
The chain has encouraged staff and customers to create SRCs.
Mr Harrison, who has worked at the Plymouth store for just less than three years, is a runner too.
He said the Sweatshop philosophy is “by runners for runners” and the SRC attracts runners of various standards, running three to five miles twice a week.
“It’s free and we have done it since we opened,” Mr Harrison said. “We presume it will continue.”
Plymouth lost sports store Intersport Tony Pryce in August 2017, after 16 years.
The business, just opposite Sweatshop in Cornwall Street, decided not to renew its lease with staff blaming reasons including competition online and the cost of business rates.
However, Mr Harrison said trade at Sweatshop had been good.
“It’s been going all right,” he said. “Closing the store has actually brought in some customers that would not usually have come in here.
“Business as a whole has not been bad, above average.”


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01 May, 2017
A new study by the Food and Agriculture Organization of the United Nations (FAO) and the European Bank for Reconstruction and Development (EBRD) aims at understanding the business case for high-quality poultry products in Turkey.
The study “Turkey: premium poultry products, willingness-to-pay and investment opportunities" analyses consumer preferences in the country and the potential return on investment for new product lines with premium attributes, such as free-range eggs and organic chicken.
Turkey’s poultry industry has expanded rapidly in recent years. In 2013, the country became the tenth largest producer of chicken meat and hen eggs. It is also a competitive exporter of poultry products, mainly to countries in the Middle East. These trends might continue, as domestic and international demand for poultry products is likely to rise in the coming years.
Price and trusted brands matter
Throughout the world, consumers want more assurances that their food is safe, nutritious and of good quality. Interest in how animals are treated - from farm to slaughterhouse - is also growing, and compliance with animal welfare standards has become an important factor in international trade agreements.
The FAO/EBRD study drew on survey work, cluster analyses and market simulations to understand Turkish consumers’ purchasing habits and preferences, and to analyse their willingness to pay for different premium poultry product attributes.
“We found that awareness in Turkey of quality attributes, especially animal welfare practices, was still in the early stages,” said Nuno Santos, FAO economist and co-author of the study. “We also found that Turkish consumers were still very price-sensitive when choosing poultry products.”
Another highlight of the study was that Turkish consumers tend to buy recognized brands, as they feel more confident that they deliver the required quality, reliability and product safety.
Animal welfare vs. human health
While most Turkish consumers do not seem to be willing to pay for substantially higher prices for products that follow animal welfare standards, they show interest in attributes related to human health. They prefer labels certifying that animal feed is free from hormones, antibiotics and slaughter by-products, and they pay attention to proof of regular food safety controls.
While animal welfare practices, such as the use of enriched cages, which are roomier than traditional cages, or free-range options, are less of a factor, the study showed some concern over the handling of animals during loading and unloading.
Uncertainty about organic products
“The benefits of organic production are not yet clear to Turkish consumers,” said Carl-Johan Lagerkvist, an agricultural economist from the Swedish University of Agricultural Sciences, who contributed to the study. “But despite these barriers, a premium market does exist for known and trusted brands that sell organic products. Consumers will pay for certainty.”
Organic eggs cost two to three times the price of standard eggs in Turkey, while organic chicken is four to five times more expensive. Given the price differentials, consumers need to be sure that displayed standards are actually enforced.
But the study found that, due to certain regulatory issues, the enforcement of free-range and organic labelling was not fully reliable.
“Despite the improved institutional environment, there’s still misuse in terms of organic labelling, making it difficult for consumers to distinguish which products are truly certified organic and what that means exactly,” Santos said. “It limits the interest of producers to invest in these premium lines because they face unfair competition from misused labels and wouldn’t reap the benefits from higher production costs.”
More competitive sector
In addition to ensuring greater control over quality labelling, the study identified other areas where improved government regulations could help Turkey’s poultry sector become more competitive.
These include setting definite timelines for converting existing cages into enriched cages, which is a requirement for exporting premium eggs to the European Union (EU).
Other areas include enforcing the ban on the use of rendering products (process that converts waste animal tissue products usually from the meat industry) in poultry feed, developing plans for manure treatment – including manure-based fertilizers and biogas production – and working on a more competitive environment given the high concentration of the industry in the country.
This study adds to a growing body of work by FAO and the EBRD on food safety and quality standards, which includes a review of animal welfare legislation in three EU countries, Turkey and five other non-EU countries.
“Even when there’s a good business case for investing in higher quality products, there is often a lack of information on which product attributes are most valued, have the largest market potential and best returns on investment,” said Nadia Petkova, and Associate Director for Turkey, Caucasus, Central Asia and Mongolia, Agribusiness, EBRD. “This type of analysis fills those key information gaps, and provides valuable insights to other transition economies.”
EastAgri is supported by:


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Over the years, Katy Perry has rocked a variety of hair styles and colours. From pastel pink and bleach blonde, to a very eye-catching electric blue, there isn’t much the Teenage Dream singer can’t pull off.
At the beginning of her music career, the star was famed for her iconic jet black hair – but that’s a look she’s steered away from for quite some time. Until now, that is.
Posting to her Instagram account, the pop singer has taken us all back in time, revealing her newest hairstyle – a jet-black shade in a sleek, lengthy style.
Katy, who recently welcomed her first child Daisy with fiancé Orlando Bloom, is seen showing off her waist-length hair in a short clip, before appearing on Jimmy Kimmel Live.
In recent years, the star has been sporting a bleached blonde bob, so it’s no surprise that the transformation has come as a shock for her 112 million followers.
The post, which some fans claim “has broken the internet”, raked in almost 3 million likes, with many pointing out the resemblance to her earlier years.
“The iconic black hair is back,” one fan says.
“Katy, your dark hair is your hallmark,” another writes. “You’re always pretty, but with black hair you’re just exquisite!
Unfortunately, the look didn’t last long, as the star later revealed her hair was nothing more than a wig.
Appearing on her Instagram stories, Katy removed her hair piece to reveal her much-shorter and blonde hair.
“Everything is fake,” she declares in the clip.
Back in December, Jesus transformed Katy’s short style into super-long princess hair, in a creamy blonde shade.
Which hair colour do you prefer on the California Gurl?


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For the past three years Bailey’s Taproom has been celebrating its anniversary a few days early to coincide with the annual Oregon Brewers Festival. This year is no different, as the downtown beer bar will host its 11th Anniversary Party + Barrel-Aged Beer Fest on Saturday, July 28th from Noon-11:00pm.
Bailey’s Taproom opened its doors on August 1, 2007 and since this time now almost 11 years ago has gone on to become one of the top beer destinations in Portland. Always one of the top go to spots for locals and travelers Bailey’s Taproom ranks is always a must stop when in downtown Portland.
For its 11th Anniversary Bailey’s Taproom will reel in its festivities a bit but will allow free flowing access between it and its sister bar upstairs, The Upper Lip. This will allow for two stories of access to its annual barrel-aged beer bonanza.
The only beer that we have been privy to that will be pouring at the anniversary is a special beer from Seattle’s Reuben’s Brews with special blend made just for Bailey’s. Reuben’s masterfully blended a Red Wine Barrel-Aged Imperial Stout with a Bourbon Barrel-Aged Belgian Strong Dark on cherries to create Bailey’s Taproom 11th Anniversary Barrel-Aged Ale.
As with events at Bailey’s Taproom, its 11th Anniversary Party + Barrel-Aged Beer Fest will have no cover charge and its team will put together an incredible tap list. Stay up to date on all of the festivities by following its Facebook Event Page.
Cheers to 11 Years!
213 SW Broadway
Portland, OR 97205


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At launch, Resident Evil Village saw over 100,000 concurrent players on Steam, making it the most successful PC launch in series history. Prior to Village, Resident Evil 2 Remake held the throne with nearly 75,000 concurrent players.
Resident Evil Village isn’t just putting up great player counts on Steam – it’s also climbing the UK boxed charts and recently dethroned New Pokemon Snap and is vastly outperforming Returnal. As of today, Village has claimed the number one spot on the chart, with New Pokemon Snap falling to second place and Returnal tumbling down the list to number 15. Despite the strong launch for Village, its concurrent player count on Steam is well below its peak – currently sitting at just over 61,000 – although it’s still in the Top 15 most played games on the storefront.
According to SteamBD, its official all-time concurrent player record is 106,631, recorded just two days ago.
Resident Evil Village was one of the most-anticipated releases of 2021, so its breakout success doesn’t exactly come as a surprise. Fans of the series have been itching to unravel the latest installment in the story of Ethan Winters – and reviews of the game indicate Capcom has another success on its hands. It may have toned down the scares compared to previous entries, but there’s still a lot of fun to be had with Capcom’s romp through Castle Dimitrescu.
Of course, modders are also having fun with the popular game, releasing mods that replace Baby Rose with a tiny Chris Redfield and even combining Lady Dimitrescu with Mr. X – if Lady D on her own wasn’t terrifying enough for you.
Don’t expect Resident Evil Village to fall off the charts any time soon, as it’s still holding down solid numbers – although it has just about 61,000 concurrent players right now, its peak early today was over 94,000. It’s also immensely popular on Twitch, sitting as one of the Top 10 most-viewed games with 103,000 concurrent viewers.
Source: Read Full Article


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Jokr's new app offers tailored product recommendations and custom content.
Instant delivery service Jokr has unveiled a revamped mobile app that aims to customize the mobile shopping experience through curated content and personalized product recommendations. Featuring the company’s proprietary predictive artificial intelligence (AI) platform, the app offers shoppers curated product lists based on past purchases, as well as a feed filled with custom content and recipes.
"We believe in constant improvements and consumer-centric products," said Sven Grajetzki, chief product and technology officer at New York-based Jokr. “Our app is a key aspect to delighting our users with an engaging and flexible front end while using data to surface the most relevant and unique assortment of products to make it a fully personalized user experience."
The app is partially powered by Jokr’s bevy of preference and behavior data, which the company has gleaned from its customers in 15 cities around the world.
The global delivery platform launched in 2021 and aims to deliver products from hyper-local vendors in as little as 10 minutes, and currently operates stateside in New York City and Boston. It originally rolled out in São Paolo, Mexico City and Bogota.
Beyond pushing the boundaries of AI, one of Jokr’s main goals is to help keep people from overfilling their refrigerators and wasting food. To that end, Jokr teamed up with Danish tech company Too Good To Go to create an app that allows shoppers to order a surprise Jokr bag filled with groceries and pantry items that are about to go to waste. With a retail value of $15, the bags are available exclusively at Jokr hubs for just $5.
In December, the company completed a $260 million Series B funding round, which valued it at $1.2 billion, enabling it to attain unicorn status just eight months after starting operations. The round was backed by tech and growth investors including Activant Capital, Balderton, Greycroft, GGV Capital, G-Squared, HV Capital, Kaszek, Mirae Asset, Monashees, Moving Capital and Tiger Global. Jokr CEO Ralf Wenzel personally invested during the funding round, along with other co-founders.


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Home > News Story and Obituary Archive
News: Comic-Con International is Really Big in ‘03
posted August 30, 2003
Over 70,000 people made the trip to the San Diego Convention Center for the 2003 Comic-Con International (July 16-20), and boy, were their feet tired. This year's show featured yet another hall's worth of space opened by organizers to create room for the vast rainbow of exhibitors, giving fans some 48 rows to walk through before the Artist's Alley area, art show, and the upstairs panel and conference rooms. The elephantine room soon became the elephant in the room that no one could resist pointing out, as nearly everyone in attendance seemed shaken and stunned by the sheer size of the hall and made running commentary about it -- sort of a spatial weather report. Combined with the Balkanization of the late night social scene into tiny, fierce tribes of cocktail parties, hotel bar get-togethers and the occasional one-company soiree, and the general impulse that many had upon returning home from the show was to get on-line and read about all the people they failed to see over the weekend.
While attendees may not have seen all the people they remembered from past shows, celebrity sightings were at an all-time high. After years of slowly building star drop-ins and a small undercurrent of actual celebrity attendees, some sort of critical mass was reached in 2003 that drew the attention of media outlets like Entertainment Weekly and People Magazine to America's largest pop culture event. Fans in attendance now had the option of leaping out of the way of Halle Berry's bodyguards or being blocked from moving down an aisle by people watching Quentin Tarantino shop. Darryl Hannah visited her favorite Goth cartoonist, the actor who played Jackie Chiles showed his support for Kobe Bryant, hobbits signed autographs, and several dozen people managed to recall Brian Posehn's name.
There was actual mainstream publishing news at the show, a sign that the industry has recovered from its late 1990s doldrums at least to the point of starting to beat the crap out of each other again. Hearts of middle-aged fanboys swelled in nostalgic glee as the giant robot-style war between the American Big Two once again leapt to the industry's center stage. The presence of DC and Marvel in San Diego was a study in contrasts. DC Comics anchored the comic book publishers' portion of the main floor. Marvel decided not to exhibit at all. DC Comics wined and dined entire facets of the comic book industry in much-whispered-about fetes with the entire editorial staff on hand. Marvel offered up a reasonably well-attended hospitality suite with a few key personnel. DC Comics signed exclusivity deals with Marvel talent. Marvel did a spit take and vowed revenge at Wizard World. The announcement of new contracts is believed by many to be the sign of a new, more aggressive policy regarding talent by the venerable publisher, and the first big test for the Bill Jemas/Joe Quesada "New Marvel" to keep its sales and buzz momentum in an increasingly competitive -- at least in musical chairs fashion -- comic book market.
Other publishing and industry news abounded. Random House announced a line of manga under their Del Rey imprint to be run by former Viz marketing director Dallas Middaugh. Tokyopop provided the first details on its new line of American manga and a line of hip-hop influenced manga, in addition to describing which new titles it will release/unleash here. Mega-retailer Chuck Rozanski accepted the 2003 Defender of Liberty award from the Comic Book Legal Defense Fund. Convention guest Dave McKean told those attending his panel of his intention to do another long comics work. Writer Brian Bendis gave Marvel a mini-breakthrough at the Eisner Awards. Highwater Books ended its long publishing hiatus by arriving at the show with three new works. Fantagraphics Books thanked as many people as they could for the company-saving results of their crisis-instigated sales plea in late May. CrossGen Entertainment provided details to the press about the new DVD versions of its graphic novels (created with an in-house platform they also believe may be attractive to buyers) and its education initiatives. The substance of each announcement and event deserves its own article, but together they prove the continuing attraction Comic-Con International enjoys as a place to make news.
Comic-Con International has long been a group of shows within a show. A comic book fan might stumble across the masquerade crowd and become totally lost trying to track its big names and weekend high points. Gaming aficionados, alternative comics fans, and science fiction fan communities are among those who have for years enjoyed their own cluster of retailers, programming, and social events. More recently arrived factions began to make their impact felt in 2003. Movie-driven entertainment franchises could safely be separated into their own show at this point, dominating the convention center's big ballroom and driving the bulk of best-attended signings. On-line cartoonists were also out in force, bringing in their unique and significantly self-participatory audience; cartoonist Justine Shaw of Nowhere Girl was a key 2003 attendee if simply for the groundbreaking nature of her Eisner nominations, the first to Internet-only content. Manga publishers like Tokyopop, Comics-One and Central Park Media made for a growing presence oddly (for the comics landscape post-1949) driven to great extent by young female fans. Retailers who offered manga, anime, and related products were typically swamped, particularly on Saturday. The effect on comics industry people was both salutary in that traffic was high, but the crowds and variety of events also seemed to throw some into a degree of psychological disquiet. One joke repeated often was that alternative and mainstream comic book publishers were finally united in their fear of manga, but it was more like comics struggling to keep a place for itself in the wash of extremely popular events that had little or nothing to do with them. Comic-Con International has never contrasted more sharply with intimate, wholly comics-driven events like Small Press Expo [SPX] and the Museum of Comic and Cartoon Art's comics festival [MoCCA].
Convention organizers battled various growing pains that had little to do with issues of identity. At Thursday's panel on convention feedback, organizers sat calmly while a passionately articulate man berated them for at least a half hour on the hardships of waiting in the long lines for entry. Attendance lines were consistently an hour long, up to three or four in the early morning for those waiting to register. Because of security concerns mandated to them by fire officials, and the desire that many fans have to crash the exhibition floor as early as possible, there seems little the convention can do other than try and make things as efficient as possible and provide specific aid to anyone who finds the ordeal overpowering. The convention increasingly seems to find itself in no-win, or at least small-win, situations. A dedication to keeping Artist's Alley space (rows of mostly artists set up in mini-booth fashion) free out of respect for a beloved, interactive institution that drove early San Diego Cons has to be balanced against the needs and desires of paying exhibitors. Thus the Alley is moved to one side of the massive hall or the other, and traffic for even well established cartoonists showing in that area may frequently fail to match the number of people moving through a Lord of the Rings exhibit in the center of the room. The back issue dealers are still an important presence at the convention, but the rise in table prices and the general ability of comics fans to be able to track down their current favorites on-line has meant a larger preponderance of rarer Silver Age titles with their better per-issue return on profit. Original art, which can bring thousands of dollars for a single item, has fairly exploded as well -- the final spread from Neal Adams' Superman/Muhammad Ali team-up has become as familiar a sight to con attendees as Mark Evanier and bicycle taxis. And concerning the general placement of exhibitors, the line can be razor thin between making someone feel isolated amid dissimilar booths and making them feel like they've been placed in a ghetto out of the convention's mainstream.
Alternative: Looking Elsewhere
In the realm of arts comics publishing, perhaps the biggest news of the convention was a non-event; specifically, the decision made by Jeff Mason not to show with Alternative Comics. Mason told the Journal that the decision not to attend was due to a couple of factors. One was time. "I had a big felony trial the Thursday starting the San Diego Comic-Con and had jury selection on another big felony trial on the Monday following the San Diego Comic-Con. I have an ethical obligation not to neglect my clients. We won the first trial and the second trial was continued because the State of Florida provided us some evidence at the last minute that we'll need to still examine," the publisher told the Journal. The other reason has to do with the nature of the convention and the needs of his company. "I am still getting used to growing my company. I am publishing many, many more books than I did just a year or so ago. I simply didn't have the $1,500 to give to CCI for our booth space at the San Diego Comic-Con because I had to give that $1,500 to my printer so that our books would come out as scheduled. The space that $1,500 would have bought for us at San Diego Comic-Con would not have been large enough for us to properly display our books and cartoonists. San Diego is tremendously expensive for travel, as I and many of the Alternative Comics cartoonists live on the East coast. San Diego is tremendously expensive in terms of hotel rooms. Alternative Comics also gets rather lost in the crowd at such a gigantic show."
Questioned by the Journal, Mason added that other shows have started to play a larger role in his company's plans. "SPX, APE [Alternative Press Expo], and the MoCCA Art Festival are all much less expensive places to be an exhibitor than the San Diego Comic-Con or any of the other large shows. I am still a very small company, with a staff consisting only of myself. Because there are SPX, the Alternative Press Expo, the MoCCA Art Festival, and a surprising number of other up-and-coming smaller shows, I am not really inclined to exhibit again at the San Diego Comic-Con. SPX, the MoCCA Art Festival, the Alternative Press Expo, and others are generally geared toward the types of comic books that I publish and the types of readers that seem to be interested in my comics." The bottom line for Mason is that his company's money may be better spent elsewhere. "For the same $1,500 I could have spent on booth space at San Diego Comic-Con, I could have purchased at least ten tables at the MoCCA Art Festival just the other month. As the number of high quality small shows increases, my desire to exhibit at the larger shows decreases."
Money isn't the only concern for Mason; his company's established goals for comics shows call for at least paying for the cost of the convention, but also include putting fans in touch with Alternative cartoonists, raising the company's profile, and networking with industry folk and media. Asked if the changes at Comic-Con International over the years had led to his decision, Mason responded. "Yes, absolutely, the San Diego Comic-Con has become more of a pop-culture event. I used to exhibit at the Chicago Comic-Con until the folks from Wizard took over the show and made it into a pop-culture event, and I haven't exhibited since. I am not very interested in exhibiting Alternative Comics at 'pop-culture' shows. We don't attend comic book conventions to acquire licenses or movie options for our books." He added, "I understand that SPX, the MoCCA Art Festival, APE, and all of the other up-and-coming shows will face similar crises of identity. SPX, as reported in The Comics Journal recently, is facing such a dilemma. I would really like to see these shows retain their character and flavor as much as possible. I enjoy the more personal atmosphere of these events."
Mason isn't optimistic about his company's return. "In all honesty, 2002 was probably Alternative Comics' last exhibition at the San Diego Comic-Con. In 2002 I was not happy at all with how the location and arrangement of the booths separated artists alley, the small press pavilion, Cold Cut's Indy Island, and pushed publishers including Fantagraphics Books, Drawn & Quarterly, Top Shelf Publications, Highwater Books, Last Gasp, and Alternative Comics out into what truly felt like a ghetto. From what I've heard from exhibitors at the 2003 San Diego Comic-Con, the locations for these exhibitors did not improve over 2002." Mason added that he will continue exhibiting at shows like the Alternative Press Expo, where his company actually grossed more money than in San Diego. He also plans to explore becoming a presence at other small shows across the U.S., at book trade events, and internationally. Shows like Comic-Con International, the various Wizard-run shows, and the convention in Pittsburgh are likely to remain less of a possibility.
Alt-Comics: Conflicting Opinions
The Journal canvassed other traditional alternative comics publishers about their relationship to Comic-Con International, and how they feel about their plans to exhibit in future years. The bottom line has never been better. Publishers reported generally good to great sales. "I think we had our best year ever and best single-day ever (Saturday) in terms of gross sales," said Fantagraphics Marketing Director Eric Reynolds. Another longtime exhibitor, NBM's Terry Nantier, piped in with equally good news. "It went great. We did 20% better than last year which itself had posted a 20% gain. The show always has paid for itself, yes and is the best show hands down of any for us." Highwater Books Publisher Tom Devlin told the Journal that he always does a little better every year, and 2003 saw improvement of the last year he exhibited, 2001. Chris Oliveros reported that Drawn and Quarterly sold 110 copies of its brand-new hardcover from Chris Ware, ACME Novelty Datebook, and sold out of books from attending professional Adrian Tomine, including 60 copies of Summer Blonde. While Top Shelf did not answer an invitation to comment for the article, the company's show representative Wayne Beamer reported in the Journal's on-line forum that the company moved a staggering 530+ copies of the Craig Thompson book Blankets, a number that publisher Chris Staros later confirmed to the Journal as 536.
Many when asked agreed that the show had changed in recent years. Tom Devlin noted how the show's broad exhibitor range affected where Highwater Books was located and who they were next to. "I could see an effort on their part to make an indy area, but let's face it: I was still next to a card manufacturer with a pinball machine, Spike and Mike, some sort of mullet tee-shirt booth, a toy manufacturer and a nudie sticker booth. I guess all that stuff in one place is pretty neat but it sure does make an arts publisher feel like a fool." Yet NBM's Nantier believes that the convention's diverse appeal helps his line continue to find readers. "It is quite a circus now, not really a comics con anymore as a media con. But, in light of how the show is doing for us, it certainly looks positive," the publisher told the Journal. "I guess by attracting more of an audience, the show gives us more exposure in turn. As long as it attracts the broad cross-section of fans and readers that it always has, this show will be excellent for us, since our own publishing program has a fairly broad and diverse appeal." Chris Oliveros opined that the show's makeup is really nothing new to comics. "The San Diego convention is fairly representative of the comics industry as a whole in that somehow this small group of relatively like-minded publishers (us, Fantagraphics, Highwater, Top Shelf, etc.) co-exist with everything else that has very little in common with what we publish." Oliveros noted that most of his sales come to regular customers who attend every year and who are interested in alternative comics; Devlin and Harkham reported that most of their business to new faces came in the form of t-shirt sales. Said Harkham, "Usually at shows like APE or SPX, most people who buy a t-shirt do so because they like the comic. At San Diego, so much of the stuff there is just nice liking merchandise, and art comics I guess are just part of the general sea of ephemera, if you know what I mean."
Asked if the show had lost some of its allure to alt-comix professionals because of the changes in emphasis or the rise of other shows directly aimed at their type of work, Fantagraphics' Reynolds admits, "A little of both." He said that many of Fantagraphics' cartoonists aren't big convention-goers, citing Jim Woodring and Charles Burns, but that others may have stayed at home. "[Dan] Clowes's absence the last two years has been rather conspicuous, I think, just because he's Dan Clowes and he used to go every year," said Reynolds. "Now that he's more popular than ever but has taken two years off, it gives a sort of skewed perspective along the lines of what you're suggesting. But just as importantly, I think APE and (especially) SPX/MoCCA have grown considerably, so you're seeing San Diego lose out to those shows in terms of cartoonists who only have a budget to attend one show a year. That's especially true of East Coast cartoonists, most of whom have replaced San Diego with SPX and/or MoCCA as their convention of choice, for better or worse. As is it, I still think we had something like 17 authors or so signing in San Diego, so this distinction is a small one." AdHouse Books' Pitzer freely admitted that his company did better business at the alternative-friendly shows, explaining, "The cost is much lower and the audience is more on target." Tom Devlin calls the smaller shows like those cited by Reynolds, "the future of art comics." Noting that the books he publishers sell better there, Devlin hastened to add, "And for more than just the focused product aspect. Imagine being a kid who's into comics and you go to the local show and there are tables by Highwater, Top Shelf, Drawn and Quarterly and Fantagraphics." But until a number of regional shows achieve the status of the top indy-focused conventions, Devlin has no plans to discontinue exhibiting in San Diego.
Neither do Reynolds and the company for which he works. "It's hard to imagine the show not being an important part of our schedule, because it is still the biggest comics-related event in North America despite the influx of other pop culture detritus that increasingly obfuscates that fact as every year passes." Reynolds says that a publisher like Fantagraphics does face unique challenges that will involve some clever strategic planning. "I do think it is almost too huge, in terms of just how exhausting it is -- and please note that I am absolutely not parroting the 'boo-hoo, San Diego has gotten so big that it isn't about comics anymore' party line, that's not what I'm talking about. For us, something really has to give. I really hope the people running the convention are listening because almost every exhibitor I've spoken to has told me the same thing. Granted, it's probably not a coincidence that most of the people I'm thinking of are all longtime, mid-level exhibitors who are too poor to pay the exorbitant union fees required to have the convention center staff do your heavy-lifting, but also not a self-publisher with just one or two titles to sell who can do it super bare-bones. I'm talking about exhibitors with substantial inventories who are breaking our backs to come down and sell it and are forced to do so at a minimum of expenditures because we are a company operating close to the margins. The convention has become so huge, with so many regulations and expenses that you need to either be a giant conglomerate that can absorb the expense as part of a larger promotional budget or be a tiny self-publisher who can go the one folding table and a box of books route." While the new unionized contractor working the convention center was reported to have a more lenient policy regarding what could be brought onto the floor, it is unclear whether this is a tenable position publishers of the type publishers will be able to count on in years to come.
As for changes that could be made on the convention's end, both Oliveros and Devlin expressed their desire that media attention could be to literary comics, Drawn and Quarterly's publisher pointing out that a further commitment to that side of comics would put the convention in step with so much of the medium's best recent publicity and be good for the medium in terms of helping keep readers. FBI's Reynolds had particularly savage things to say about a more specific matter, a structural change at the show that has seen the addition of a Wednesday Preview Night whereby four-day pass holders are allowed first crack at what is being displayed at the weekend convention. Although Comic-Con International reports the added evening of display is a hit with fans and will be continued, others feel the move simply cuts into sales that would be made on other days of the show and forces exhibitors into additional work. "The addition of Wednesday night is just brutal to our staff," Reynolds said. "I'm convinced that we make no extra money despite having to spread out expenses out over an extra day, forcing us to come in a day earlier than we used to. I really think it's a bad idea; it gets the entire show off on the wrong foot. At a certain point, enough is enough, you know? I know they want to reward the people who bought four-day badges and all, but Christ Almighty, you're going four days in a row already. Does anyone really need a fifth? I've heard talk that it's also a reward for exhibitors, that it's 'our' time to shop, but I have yet to hear a logical explanation as to how an exhibitor is any more free to shop on Wednesday night than Thursday or Friday or Saturday or Sunday. If you're open for business, you're open for business, you know? I feel very strongly about this. We are a small staff, and after five days of being at the convention center from 9 AM until almost 8 PM we're ready to die." Reynolds says that because of these business strains, the company may downsize its presence at next year's show in spite of the monies earned.
The result of such overwhelming business that many publishers do at Comic-Con International is that future appearances at the show may be contingent on that business continuing. Reynolds claims that the hectic nature of the show precludes his company from doing much in the way of business or networking above manning the booth. Tom Devlin told the Journal he isn't even sure what extra business a company like Highwater could do at the convention. Only Terry Nantier at NBM claimed a full slate of business meetings the days of the show. "I was outrageously busy at this show with meetings with general trade wholesalers -- a new type of attendee -- to foreign publishers to looking at submissions, I felt pulled in all directions and spread quite thin. This is the only show where I have to deal with such an incredible variety of duties, it can be demanding but hey, that's the thrill of publishing, right?" Even so, NBM plans to downgrade some of their hands-on involvement with the convention set-up by contracting with a retailer for their display in 2004. Chris Pitzer at AdHouse Books was also able to do some business at the convention. "I met with new vendors, creators, store owners and pushed one of our upcoming releases," he said, crediting the show's diverse offerings. "Given the amount of pop culture at the show, it is a good place to meet other companies that you might not be able to meet otherwise. SDCC is a good schmooze-fest." Still, this was no guarantee of future AdHouse appearances. Pitzer: "My future exhibiting plans will depend on factors like number of new books, promoting future publications and Eisner award nominations." More succinct was Drawn and Quarterly's Oliveros, who overtly tied future appearances into a specific business model. "The decision to attend depends almost entirely now on how many new books we have to debut at the show; we need at least two or three new titles to make the show worthwhile."
Comic-Con: Hang In There
The Journal spoke to David Glanzer, the director of marketing and public relations for Comic-Con International and general spokesperson, on issues of overall interest to the convention and those areas of specific concern to traditional alternative comics publishers. Responding to the call for increasingly focused press coverage expressed by Devlin and Oliveros, Glanzer shed some light on one underutilized aspect of its press policy. According to Glanzer, the convention makes its lists of pre-registered press people "available to any exhibitor who requests it." That way, a company's press person can contact appropriate people to help arrange coverage at the show, be they comics or not. "This year we received requests from a number of comics publishers as well as movie companies and gaming companies," Glanzer said. Glanzer confirmed that this was an option open only to exhibitors as opposed to attending professionals. "We even received requests from non exhibitors, which of course we don't release to." While utilizing the list isn't a perfect solution for publishers as many press people reportedly register on-site, Glanzer suggests it as a possible resource, along with requesting a "Local Media List" from San Diego's local convention and visitors association and those of nearby towns -- essentially providing a hook for this type of television and press coverage that descends on the show from regional sources. "A number of small publishers had great local press this year because they sought out local media."
As to concerns about publishers who are feeling financial strain as the show gets bigger, Glanzer reiterated the organizers' support for comic book publishers as a key focal element of their shows. "Comic-Con International is dedicated to comics, regardless of the size of the companies producing them and that is evident not only at Comic-Con International, but in our other shows as well; WonderCon and the Alternative Press Expo." He indicated that the Independent Press Pavilion and various Small Press areas would remain part of the show's strategy to serve its smaller exhibitors, and that programming tracks featuring issues of concern to smaller publishers of all types would continue to be offered. . In terms of the financial burden involved to simply make an appearance, Glanzer announced that booth prices would go unchanged for 2004. Further, he pointed out that by looking towards future exhibitions and paying in advance exhibitors could save hundreds of dollars: $550 on a $1600 booth if they paid a year in advance and $300 on the same booth if purchased by May 1 -- saving significant enough to perhaps attract capital-light companies like arts comics publishers to make an advanced payment.
Speaking to specific concerns about the continuation of Wednesday evening's Preview Night, Glanzer explained why the event was established in the first place -- as an attendance premium. "Preview Night was created, in part, to reward pre-registered four day attendees. It would give them, and professionals and press, an opportunity to see the show in a less crowded atmosphere. It would also allow them to make purchases from exhibitors who choose to exhibit." Glanzer also indicates that, "Exhibitors aren't necessarily required to exhibit on Wednesday evening, and in fact, some choose not to." When asked why his company simply didn't skip Preview Night, Eric Reynolds pointed out that Wednesday is the only time to properly set up for a company Fantagraphics' size.
Glanzer also indicated that other publishers loved the chance to exhibit Wednesday night, and directed the Journal to Larry Young of AiT/Planet Lar. The predominantly-trades indy publisher sees the preview as an opportunity to hit a fanatical core audience. "From a business standpoint, it's a valuable tool for a publisher to have such a targeted audience of the faithful; from a personal standpoint, it's very gratifying to start the show off with such a high-energy, high-sales, high-traffic love-fest." Rather than see it as an extra night, Young says his company sees it as an added feature in the midst of a three-week convention period that includes gearing up before the show and catching up after. It also allows for the publisher to restock items that turn out to be inordinately popular. "Honestly, the Preview Night is also an insurance against dropped balls. We've set up at maybe 20 or 30 conventions and trade shows... at this point, I can pretty much predict the stock levels needed on our books to last the show. But this year I seriously underestimated the interest and attention that Last of the Independents would garner at the show. In fact, in those two-and-a-half hours of Preview Night, we sold half of the copies we had brought with us. Because of the cushion of Preview Night, not only were we able to just move those books into the hands of our most faithful readers, but I also had time the next day to have Fed Exed five more cartons without having to pay for Saturday delivery, too, like I would have had to if that had happened on a Thursday." Young told the Journal his company plans to support Preview Night for as long as the convention wants to offer one.
With different views on different events still being processed by convention organizers, much of what actually becomes policy will develop over the next several months. One area in obvious need of close attention is the show's continuing growing pains, both in terms of exhibitors and attendees, from finding a place for everyone in the hall to alleviating the suffering caused by long, crowded lines. Said Glanzer, "We hope the 2004 show will run much smoother."
Wednesday Preview Night is less than 11 months away, July 21.


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Tesla Bot, also known as Optimus, is a conceptual general-purpose robotic humanoid under development by Tesla, Inc.
It was announced at the company’s Artificial Intelligence Day event on August 19, 2021.
It’s a slim human-like machine. The body is white with gray accents from its feet to where its collarbone would be. Then it’s all black. The bot will also have a screen where its face should be that will present information. The robot will stand 5’8” tall, weigh 125 lbs, and be able to move at a maximum speed of 5 mph (it’s not fast). The Tesla Bots will have an alleged carrying capacity of 45 lbs and a deadlift capacity of 150 lbs.
Well, what will it do?
One of the goals of this bot is to eliminate dangerous, repetitive, boring tasks.
AI is a big part of the Tesla Bot. As a part of AI, Multi-cam video neural network, neural net planning, auto-labeling, simulation and tools, Dojo training, FSD hardware, etc will be featured in the Robot.
It becomes pretty clear that Tesla Bot- Optimus will be “controlled by the same AI system Tesla is developing for the advanced driver-assistance system used in its cars.
CEO Elon Musk claimed during the event that Tesla would likely build a prototype by this year.
It will be equipped with eight cameras that will feed into the neural network that Tesla has developed for its FSD software.
An Optimus doesn’t eat or sleep and doesn’t need any extra radiation protection or any life support system.
What if all or part of the things that needed to be done by humans could be done with Optimus?
Well, there’s the question of whether a humanoid robot is actually the most efficient way to automate things. Then there’s the question of cost and scale.
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SGR Ticket Booking: You will no longer be able to reschedule your travel time when traveling between Nairobi and Mombasa on the SGR.
This is because ticket rescheduling on the SGR has been banned by the Kenya Railways Corporation in a move to curb fraud.
Nonetheless, passengers will still be allowed to cancel tickets when they visit the terminus in person before the train departs. This cancellation will attract a 20 per cent charge on the paid ticket price.
“At the moment, we do not allow rescheduling. You can, however, cancel your ticket by visiting the terminus with your original ID before the train departs the station,” says KRA.
According toba report in the Business Daily, KRC has not started making profit since it launched the Madaraka Express service last June.
“The situation got worse last November when the police unravelled a cartel operating an SGR ticket scandal. Three Chinese officials and four Kenyans were arrested. The arrests were made by sleuths from the office of the Director of Criminal Investigation after the Chinese officials attempted to bribe the detectives with Sh. 500,000 to stop the investigations,” says the report in the Business Daily.
The ticketing scandal at the SGR has seen Sh. 1 million get lost everyday. It has also involved some leading tours and travel firms in a game that has seen touring rival firms miss out on ticket sales.
According to the Business Daily, one of the avenues used by the cartels involves deliberate manipulation of the booking system to get access to the revenues.
“The scheme also involves creating refunds for tickets already sold and issued to passengers on board and diverting the refunds elsewhere,” the paper reports.
First Class coaches on the SGR are charged Sh. 3,000 while Economy Class coaches are charged Sh. 1,000.


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By 2020, Apple is set to have a new way of making your body look better.
According to new reports from Engadgets, the company is reportedly preparing to introduce a new body tech that will let its Apple Watch band look and function like a real body.
The report says that Apple has been working on a body tech for years, but it was only recently that Apple began using its wearable to test and develop new technologies that were then incorporated into the Apple Watch itself.
According the report, the body tech will allow Apple to improve its smartwatch functionality.
The report says the new technology will be unveiled on Wednesday at the WWDC 2017 conference.
Apple has previously been working to improve the Apple watch’s battery life, but the new report says it is aiming to improve battery life as well.
The technology, according to the report says, will allow the Applewatch to keep working longer without needing to recharge.
Apple is expected to unveil a new Apple Watch at WWDC, which will be the company’s first wearable product in more than 20 years.
Apple’s first smartwatch was the AppleWatch 1, which was released in 2011.


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Hero MotoCorp has very well managed to stay in the buzz of the Indian two wheeler market, post its split with its Japanese counterpart. The company has been keenly front-footing every step of it and its recent entry into the African market is a good example of the same.
The company market its entry into Kenya last week, thereby giving the nation the status of the first African market for the company. The brand ‘HERO’ was launched with much fanfare in Kenya and the models that would ply on the Kenyan roads were also showcased.
HMC has also set up an international assembly unit in Kenya to cater to the needs of African markets. Besides Kenya, the company is also focusing on slating its launches in Burkina Faso and Ivory Coast as well next week.
There are in total 5 models that would initial pave way for Hero’s entry out there. Out of the five models, four are the Splendor Pro, Glamor, Hunk and the Karizma. This bunch would take care of Deluxe and Premium segment markets. In addition to this, to offer a whole new feel for the African commuters, Hero has also managed to launch a new bike under the name of ‘Dawn’. This bike is developed in tie up with a local business house of Kenya, RYCE EAST AFRICA, to bring its two-wheelers to the country. Under the alliance, Sameer Group, which is a part of RYCE EAST AFRICA, has been appointed as the authorized distributor of Hero MotoCorp range of two-wheelers in Kenya.
Excited Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp said
“We are delighted to see Brand Hero make its debut in the African continent with the first launch in Kenya. This is a strategic market for us in our overall plan for the continent, which is why we are also starting our first Africa CKD assembly operations here. Our vision is to provide convenient, fuel-efficient mobility to every customer, and with our wide range of products, we are committed to serving two-wheeler customers across Africa. We are confident our products will appeal to customers across a wide price spectrum and create a new benchmark for mass mobility in Kenya. Indeed, our Africa business is going to play a crucial role in our plans of taking Hero global.”
As part of its marketing campaign for the Kenyan customers, HMC is working on an English version of ‘Hum Main Hai Hero’ that would soon be aired in the radios out there.
HMC’s foray into the African market comes close on the news of its recent launch in Central America, where the company commenced its operations in Guatemala, El Salvador and Honduras in the month of May. Hero MotoCorp’s other export markets are Sri Lanka, Bangladesh, Nepal and Colombia.


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Faber: China’s stock market and economy may crash within 12 months
Marc Faber talks with Bloomberg about the outlook for China’s economy. Faber also discusses Greece’s debt crisis and the euro, the commodities market, and the implications of political unrest in Thailand for the nation’s economy and stock market.
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Welcome to the new era!The Scrambler 1100 PRO and the Scrambler 1100 Sport Pro are now available in India startin… https://t.co/ZBKjs9GHzg— Ducati India (@Ducati_India) 1600757853000
The bikes come with an 1100-cc engine mated to a six speed gearbox.
All pros, no cons. Discover the pro way of life with the all-new Scrambler 1100 PRO lineup. #JustPROs… https://t.co/6NoM9hakqn— Ducati India (@Ducati_India) 1600756230000
Bookings for the bikes are now open across all Ducati dealerships in the country, the company said.
BatPod, Hell Cycle & Moto-Terminator: Monstrous Bikes From Movies That Will Blow Your Mind
Power And Torque
- Front Page
- Pure Politics
- Brands & Companies
- Sebi Set to End Permanent Board Positions
Reining in special rights, ASBA-like system for stock trades, and allowing PEs to become MF sponsors are also on agenda.Vedanta Likely in Talks to Sell 10% in India Unit
With debt repayments up to $2 billion maturing by June, billionaire Anil Agarwal-led Vedanta Resources Ltd (VRL) has reached out to investors for a strategic stake sale of up to 10% in India-listed Vedanta Ltd (VEDL), said people with knowledge of the matter.India’s Return to Normalcy has a Price & Households are Paying It
The return to normalcy from the pandemic has turned out costly for households with office and school requirements triggering a spike in prices of items such as shirts, trousers, shoes, coats and school uniforms among others.
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ETPrime stories of the day
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India’s rich are growing in numbers, but why luxury car sales aren’t. (Think value-seeking buyers)
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A division of the Indy Chamber is applying to become a U.S. Small Business Administration-affiliated microlender, a move aimed at boosting its available capital and expanding its territory in a wide-open frontier of finance.
The Greater Indianapolis Chamber of Commerce will lead economic development efforts for central Indiana by merging with Develop Indy, Indy Partnership and Business Ownership Initiative, the groups announced Thursday.
Participation at Business Ownership Initiative-led training sessions is up nearly 30 percent so far this year as more Hoosiers start businesses of their own. Executive Director Julie Grice is looking for more counselors and money.
Julie Grice, a 10-year veteran of the Greater Indianapolis Chamber of Commerce and former business owner, began her tenure as executive director of the not-for-profit Business Ownership Initiative of Indiana on Sunday.


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12 November 2015
- Proportion of fires caused by electrical faults has increased by 29% over last three years
- Electrical faults now account for 23% of all fire claims
- Damage to household contents caused by fires worth £4,000 on average
The proportion of fire claims caused by electrical faults has jumped by 29% in the last three years, now accounting for almost a quarter (23%) of overall fire claims, according to figures from Co-op Insurance.*
Claims analysts at the insurer say that in addition to some of the more traditional causes for electrical faults such as tumble dryers and washing machines, other common culprits for these type of fires include electric blankets, in addition to smaller appliances which require chargers such as e-cigarettes and mobile phones.
The amount of technology people have in their homes has vastly increased over recent years, with 1.8 million mobile phone chargers being bought online in the UK each year and an estimated 2.6million people now using e-cigarettes in Great Britain. This number has tripled from 700,000 in 2012.**
According to the insurer, the cost of fire damage which can be caused by trying to make short cuts is much more costly in the long-run, and in tragic circumstances can sadly result in loss of life. On average, Co-op Insurance pays out £14,000 for a fire claim under a buildings insurance policy. Damage to contents caused by fire is worth on average £4,000 and a large loss fire can cost hundreds of thousands of pounds.
Co-op Insurance is warning home owners to make sure they buy electrical goods from reputable sources and to check that any chargers used are compatible for their device by following the manufacturer’s guidelines. As larger appliances such as washing machines are high powered, people are also being advised to use one plug per socket and not to overload extension cables with multiple appliances.
Jonathan Guy, Head of Claims at Co-op Insurance, says:
“Over the last few years we have seen a surge in fire claims caused by electrical faults, but also a rise in large fire claims as a result of these. Sadly, when it comes to fires, tragic circumstances could often be avoided by following some simple precautionary steps to protect you and your family.
“Fires in homes are among the most costly claims to deal with, as in addition to cosmetic repairs, structural damage to the property may also need to be fixed. If your home becomes uninhabitable as a result of the fire, you may require alternative accommodation, therefore it is important to speak to your insurer and make sure you have the right level of cover in place.”
Lewis Ramsay, the Chief Fire Officers Association’s Director of Prevention, Protection, and Road Safety, said:
“Electrical fires in the home can be devastating; causing both large amounts of damage to homes and also destroying personal items which are impossible to replace. We would recommend you do not leave electrical items on when out of the house, or leave them unattended and don’t over load plug sockets. In addition, make sure you take a few seconds to regularly test smoke alarms and make sure you have one installed on each level of the home. Also if you are renting privately, a change in the law means your landlord now needs to provide smoke alarms in your home.
“In the run up to the Christmas period, I would also urge people who are buying electrical goods as gifts to make sure they comply to the correct British Standards to reduce the likelihood of electrical fires. We are already seeing fires from new – yet increasingly popular - items such as ‘balance boards or hover boards’. We have seen instances where the chargers are supplied with non-standard plugs, leading to fires, which cause thousands of pounds worth of damage.”
Co-op Insurance’s top tips for reducing fire risks in the home:
- Don’t leave appliances charging unsupervised for long periods of time
- Use official/original chargers and electrical cables
- Purchase electrical items from a reputable source and check it has a British or European safety mark when buying it
- Follow the manufacturer’s instructions on the device
- Don’t charge a battery that looks like it could have been damaged or dropped
- Don’t cover items when you are charging them as they emit heat
- Don’t leave large household appliances e.g. washing machines or tumble dryers on when you leave the house or overnight
- Make sure you have a smoke alarm fitted in the home and regularly check it to make sure it works
Based on Co-op Insurance’s claims data, the top five regions for fire claims are:
- East Anglia
- North West
- North East
Notes to editors
*Fire claims analysis from The Co-operative Insurance (2009-2014)
** Mobile phone charger figures according to Electrical Safety First. http://www.electricalsafetyfirst.org.uk/guides-and-advice/electrical-items/chargers/
E-cigarette figures according to ASH (More than 12,000 people across the UK surveyed by YouGov on behalf of ASH)
E-cigarettes were introduced to the European Union in 2005.
About The Co-operative Group
The Co-operative Group, one of the world’s largest consumer co-operatives, with interests across food, funerals, insurance, electrical and legal services, has a clear purpose of championing a better way of doing business for you and your communities. Owned by millions of UK consumers, The Co-operative Group operates a total of 3,750 outlets, with more than 70,000 employees and an annual turnover of approximately £10 billion.
For further information contact:
Press & Media Relations Manager
The Co-operative Group
0161 767 4281/07540 641368


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The LG G2, also known as the LG Optimus G2, is one of the more anticipated smartphones coming out in the second half of 2013. So far the rumors are plentiful but not much has been set in stone yet. This may have changed as LG recently sent out a press release for a full HD smartphone panel. Given that the LG G2 is the next big thing coming out of LG, it’s not a giant leap in logic to guess that this state of the art HD smartphone panel is for LG’s next state of the art smartphone.
Here is everything about the panel as per the press release:
- It is a “state-of-the-art 5.2-inch panel.”
- The screen is 2.2mm thin.
- It has a 2.3mm bezel.
- Uses LG Display’s One Glass Solution. According to LG, “Dual Flexible Printed Circuits, superior to a single circuit, have been inserted between the panel and touch film, reducing the number of lines on the panel by more than 30 percent.“
- 1080×1920 Full HD resolution.
- LG makes it a point to tell everyone about the brightness. Apparently, Intertek has confirmed that this screen is capable of performing just fine in “strong outdoor sunlight” the photo at the bottom shows LG accepting a certificate from Intertek to this affect.
It’s hard to get overly excited about a display but LG seems to have put enough info into this display for it to actually be a little exciting. As you can see from the pictures above and below, this screen is ridiculously thin, bright, and colorful. Of course, only time will tell if it looks this good in a smartphone as it does in these photographs. LG also claims that the thinness of this display will also help improve grip. Again, though, these are things we won’t know for sure until this bad boy is released on a smartphone.
The most important part is that this hasn’t been 100% confirmed as the screen for the LG G2. It might as well be, but LG hasn’t directly come out and said that this will be on their LG G2 behemoth. Rumors state that the screen will be between 5 and 5.5 inches and be 1080p. This screen satisfies all that criteria. Also, as this screen has an official press release and the rumored unveil for the LG G2 is less than a month away on August 7th, there’s no reason to believe it won’t be prepared to be inserted into the G2’s body. To read the press release for yourself, we’ve put it in below.
[press]LG Display Introduces World’s Slimmest Full HD LCD Panel for Smartphones
New panel will enable sleeker Full HD smartphones delivering superior viewing experience
Seoul, Korea (July 11, 2013)
– LG Display [NYSE: LPL, KRX: 034220], a leading innovator of display technology, today announced that it will unveil the world’s slimmest Full HD LCD panel for smartphones.
The state-of-the-art 5.2-inch panel is an exciting advancement for the premium mobile device market enabling sleeker Full HD smartphones featuring better “grip-ability” and a superior viewing experience.
Only 2.2mm thin with a 2.3mm bezel, LG Display’s new panel is both slimmest and narrowest among existing
Full HD LCD panels designed for mobile devices. This world’s slimmest Full HD LCD panel will provide larger visible display space on smartphones, critical as mobile devices are used for multimedia viewing more than ever before. Additionally, the panel will
make devices easier to grip as well as lighter in weight.
Key to realizing the world’s slimmest panel is LG Display’s Advanced One-Glass-Solution (OGS), the latest
touch technology enabling an enhanced touch screen experience, developed and applied to the new panel for the first time ever. Dual Flexible Printed Circuits, superior to a single circuit, have been inserted between the panel and touch film, reducing the number
of lines on the panel by more than 30 percent. Utilization of a direct bonding system has also resulted in Optical Clear Resin between the panel and touch film for greater brightness.
The new panel’s superiority in displaying resolution, brightness, and contrast ratio results in enhanced outdoor readability.
By utilizing 1,080X1,920 pixels consisting of Red, Green, Blue (RGB) sub-pixels, the panel is a true Full HD display. And with a brightness of 535 nits at maximum, LG Display’s panel outperforms all current mobile Full HD LCD panels. Finally, measuring contrast
in real-life surroundings with Ambient Contrast Ratio results in a reading of 3.74:1 based on 10,000 lux, confirming the perfect performance of the panel even in strong outdoor sunlight conditions. Renowned testing firm Intertek has officially
certified these results.
“Today’s introduction of the world’s slimmest Full HD LCD panel represents an exciting advancement for
the high-end smartphone segment, and is possible due to our world-class expertise in IPS and touch technologies,” said Dr. Byeong-Koo Kim, Vice President and Head of LG Display’s IT and Mobile Development Group. “LG Display will continue its commitment to
developing products that maximize consumer value as well as opening new doors for the mobile and tablet PC industry.”
About LG Display
LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels,
OLEDs and flexible displays. The company provides TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, mobile products and other various applications. LG Display currently operates nine fabrication facilities and
seven back-end assembly facilities in Korea, China, Poland, and Mexico. The company has a total of 56,000 employees operating worldwide. For more news and information about LG Display, please visit
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations,
are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation
to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained
in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.[/press]


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In accessing financial services or products, individuals are often required to share financial information stored with other entities. The lack of a centralised mechanism to access information makes the process time-consuming and often unreliable
The Singapore Corporate Counsel Association (SCCA) has created Peers.Online, a virtual platform that serves as a connectivity hub for corporate counsel around the world
In this digital age, where social media has become all the rage and sharing content on the internet has become possible with just a click of a button, businesses need to be more vigilant on the content available on social media platforms or intermediaries
Are existing copyrights laws redundant in the case of NFTs, as blockchain technology itself provides for the protection of proof of authenticity and ownership of underlying digital assets?
As Chinese financial markets become more sophisticated, companies are eyeing new possibilities to unlock value


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Givaudan and LanzaTech collaborate on sustainable fragrance ingredients from renewable carbon
Givaudan and LanzaTech NZ, Inc. (LanzaTech) have announced a collaboration to develop sustainable fragrance ingredients from renewable carbon. Renewable carbon is carbon that avoids or replaces the use of additional fossil carbon. Examples include carbon from CO₂ and carbon recycling.
Related: Coty Deploys Carbon Capture Ethanol In Globally Distributed Fragrances
Several commercial facilities are already licensing LanzaTech’s technology, converting various carbon waste sources into ethanol, including the conversion of industrial emissions in China, using the power of industrial biology and a proprietary biocatalyst. With over 15 years of scaling experience, LanzaTech’s approach to carbon transformation brings renewable carbon into people’s lives through the conversion of emissions into ethanol and the subsequent conversion of ethanol into the building blocks needed to make a wide range of consumer goods, such as laundry detergent, clothing, footwear and food packaging. Additionally, LanzaTech’s synthetic biology and modeling capabilities are designed to introduce new pathways into their biocatalyst to produce a variety of different chemicals through this process.
The research collaboration with Givaudan is expected to leverage this synthetic biology capability and go beyond ethanol production, with the companies working together to establish new pathways to key fragrance ingredients used across the Givaudan portfolio. . Looking for new opportunities to bring fragrance material innovations to life, the companies have a common goal of using sustainable methods to continue to serve consumers by improving the fragrance palette and also being good for the planet.
Jeremy Compton, Global Head of Science and Technology, Fragrances, at Givaudan, said: “We are delighted with this strategic collaboration with LanzaTech, a highly respected sustainable materials company with an impressive heritage and cutting-edge technology. art research platform in renewable carbon solutions. Our goal to “create for healthier, happier lives with love for nature” fully aligns with our two companies’ aspiration to develop products that help us be carbon neutral in the future. Together, we have the potential to grow with our respective businesses while increasing our positive impact on the world with products that consumers feel good about and that preserve our planet.
Jennifer Holmgren, CEO of LanzaTech, said: “Givaudan has long been an expert in bringing together innovation and technology in the world of fragrance and we are delighted to work with a company that shares our vision of a post-pollution future. Together, through the power of synthetic biology, we are expanding how we can deliver sustainable solutions to all consumers, giving them choice in where their carbon comes from while protecting our planet. Both companies are long-time members of the Renewable Carbon Initiative, an organization whose goal is to support and accelerate the transition from fossil carbon to renewable carbon for all chemicals and organic materials.
Michael Carus, Founder of RCI, said: “The industry must go beyond the use of renewable energy. All use of fossil carbon must cease, because the carbon contained in the molecules of chemicals and plastics is bound to end up in the atmosphere sooner or later. Only a complete elimination of fossil carbon will help prevent a further increase in atmospheric CO2 concentrations.


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NEW YORK — More people will travel in the United States this Labor Day holiday than they have on any of the September breaks since the 2008 financial crisis, U.S. travel group AAA said on Tuesday.
Falling unemployment, better consumer finances, rising house prices and faster economic growth in the United States have all contributed to the forecast, issued every year by the AAA and prepared with research group IHS Global Insight.
AAA and IHS expect 34.1 million people in the country to take a trip of 50 miles or more, a 4.2 percent increase on the 32.7 million that traveled during the holiday a year ago.
Labor Day lands on Monday, Sept 2. It is considered to be the traditional end of the summer driving season which starts on Memorial Day on Monday, May 27. The price of gasoline tends to rise during the season as people go on vacation and drive more.
In 2008, 45.1 million people took a break away from home. The number dropped sharply to 31.3 million in 2009 as the financial crisis unfolded.
For graphics showing previous Labor Day travel and the number of gallons of gasoline that can be bought with the average hourly wage, click here: http://link.reuters.com/kag52v
This year, 85 percent of those going away, or 29.2 million people, will travel by car, rising from 28 million last year. Air travel is also expected to increase though, by almost 3 percent to 2.6 million, AAA and IHS said.
"AAA is forecasting a lift in Labor Day travel this year due to the increasingly positive economic outlook and optimism in the housing market," AAA President and CEO Robert Darbelnet said in a statement.
"For many Americans, their home is also their biggest asset, as home prices improve in many parts of the country more families are feeling comfortable about traveling this Labor Day holiday," he said.
Gasoline prices are currently 2.7 percent lower on average than a year ago although AAA warned they could rise later in the month should hurricanes and tropical storms or refinery outages dent production. It said however prices will have little bearing on whether people choose to travel or not.
The average traveler will journey 594 miles and spend $804 during the long weekend round trip, the two groups said.
AAA and IHS forecast the number of people traveling based on a variety of economic indicators while their prediction of behavior, such as journey length and money spent, is based on interviews with people intending to travel from a survey of 1,350 households.


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The next content update for Elite: Dangerous, titled Beyond — Chapter One, comes out Feb. 27. The game’s designer and publisher, Frontier Developments, announced that the update is free for all players, and it will release simultaneously on PC, PlayStation 4 and Xbox One.
Elite: Dangerous is a spacefaring game that plays out on a realistic model of all 400 billion star systems in the Milky Way galaxy. In the past year, the game world was invaded by an alien menace known as the Thargoids. Beyond pushes the game’s storyline forward, and promises to reveal more about the alien’s motives and goals.
The update also introduces the Chieftan, a new ship designed to directly engage with the Thargoids.
Beyond also changes how the surfaces of planets are rendered, adding new details and colors to enhance the experience when flying low to the surface or driving around in rovers. Crime and punishment is being enhanced as well. Serial offenders will find themselves attacked by powerful AI-controlled units from Advance Tactical Response. The in-game newsfeed, GalNet, which is responsible for delivering major story beats to players all across the far-flung game world, is also getting an audio version.
Finally, Frontier said that it has also made changes to the in-game economy that should put some high-level equipment within easier reach.


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In November Tesla laid out plans to change the way its Supercharging network is operated, moving from a completely free network that allowed Tesla owners to charge their vehicles at no additional cost, to a pay-per-use model.
In a follow-up, Tesla stated that free Supercharger access will be permitted for customers who purchased a Model X or Model S before January 15th 2017. Those customers that have their vehicle delivered after that date will be subject to the new policy, including those who have pre-ordered the Model 3. The pay-per use model is only charged after a customer has exceeded their yearly balance of 400 kWh (about 1609 km).
“To put the affordability of Supercharging into perspective, customers will pay about $15 for a road trip from San Francisco to Los Angeles, about $120 from Los Angeles to New York”
Now, the company has revealed the specific Canadian pricing for Supercharging. The charging rates in Canada are applied per-minute, where as in other countries Tesla is charging per kWh. The prices in Ontario are $.13 for tier one and $.26 for tier two.
In its blog post, the company explained that tier one charging is when your vehicle is charging along side another Tesla vehicle and tier two is when your car can use the full power of the Tesla Supercharger.
“To put the affordability of Supercharging into perspective, customers will pay about $15 for a road trip from San Francisco to Los Angeles, about $120 from Los Angeles to New York,” stated the company.
Throughout the post on the company blog Tesla has stated that it does not intend to profit off the cost of the super charger network and that the included 400 kWh that is given to every Tesla owner on their delivery anniversary, is more than enough for most of their customers, based upon prior Supercharger network data.


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Microsoft to launch social entrepreneur accelerator programme in March
Thursday, February 28, 2019
Aiming to nurture and grow an ecosystem of tech-enabled start-ups focused on social and environmental issues, Microsoft on Tuesday announced the launch of a new social entrepreneur accelerator programme in India and France next month.
The programme named Microsoft-Ashoka Accelerator, is in partnership with AshoksaFoundation, a global non-profit of leading social entrepreneurs, and France-based digital learning startup Simplon.co.
“Microsoft has always been an ardent enabler of the start-up ecosystem in the country,” Anant Maheshwari, President, Microsoft India, said in a statement.
Photo courtesy of Sudipto Sarkar.


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[dropcap]B[/dropcap]ryan Barton stormed onstage at a bitcoin meetup in Sunnyvale last month to tell roughly 200 people about his Save Bitcoin Rally. What does bitcoin need to be saved from, exactly? Well, apparently, something called BitLicense, which only allows companies approved by the State of New York to traffic in cryptocurrency, a crushing blow to the libertarian ideals of the earliest adopters.
Barton wore a T-shirt emblazoned with the logo of the Silk Road, an online black market where bitcoin first gained traction as a currency, thanks to its untraceable and pseudo-anonymous nature. Bitcoin and other cryptocurrencies have seen a meteoric rise, culminating with one bitcoin exchanging for nearly $20,000 in December—pretty amazing for a currency created practically out of thin air by Satoshi Nakamoto, a person (or perhaps group of people operating under a collective name) who no one knows anything about.
Since then, the price of bitcoin has tumbled, down to $13,500 by mid-January, the last time GT covered the trend (“Bit of Wealth,” 1/17), at which time we thought it had “stabilized.” But in early February, it dipped down below $7,000. The price currently sits at $9,055, and it’s doubtful that number will be current by the time you pick up this paper.
For its believers, bitcoin represents the first sparks of a global revolution to democratize wealth, the internet and maybe even society as a whole. In theory, the underlying technology that bitcoin uses to store its data—the blockchain—has the power to decentralize all online information, storing it in cryptic jumbles across the hard drives of millions of computer users, freeing us from the tightening grip of greedy banks, monopolizing tech giants and overeager governments.
Will bitcoin and other cryptocurrencies reach their full utopian potential? Probably not, but that’s not a question to be answered for many years. The equation on the minds of the folks at the Sunnyvale meeting on Feb. 13 was: will this make me rich?
After what I saw that night, I wouldn’t bet on it.
The bitcoin Meetup took place at the Plug and Play Tech Center, a startup accelerator, where organizers have reserved parking spaces for “venture capital investors” 20 feet away from a massive brass statue of Siddhartha. It doesn’t seem there’s any irony intended.
The hallway walls feature the signatures of big money tech investors. And within these walls, there’s a sea of cubicles dedicated to the creation of startups—doing what, I honestly have no idea.
Upstairs are about 20 boxes of pizza and five icy metal bins of free beer and soft drinks, all of which were consumed during the two-hour event.
Over a slice of pizza, Fernando Serrano says he bought his first cryptocoin in October of 2017—in time for the big rise, but also the subsequent fall. I ask how the experience has been. “It sucks,” he acknowledges, but he thinks it should be “good” again by the end of the year.
“Why?” I ask.
Serrano compares cryptocurrency and the blockchain to the early internet, which also had its skeptics, but ultimately made trillions for its adopters. He also thinks cryptocurrency will gain holds in India and China and that one coin, Ripple (a BitLicense holder), is going to be worth a lot. I nod while drinking beer.
At the event, some of the day’s speakers make promises that seem to veer into the shadowy realm of get-rich-quick schemes. Honestly, when it comes to cryptocurrency, transparency can often be in short supply.
One cryptocurrency site, Prodeum, went down on Jan. 28, then replaced its webpage with one word: “penis.”
It’s All Rigged
Ed Zitron, the founder of EZPR, owns several cryptocurrency mining rigs—the loud, expensive supercomputers that pull coins from the digital ether by doing math problems. Zitron recently started a satirical e-newsletter where he lobs hot crypto takes as a fictional pundit who is both deeply in debt and fiercely devoted to cryptocurrency. Despite his foray into mining, Zitron thinks bitcoin—and, frankly, America’s whole investment system—is a bit of a crapshoot.
“There’s nothing to know with bitcoin,” he says. “There has never been. And let’s be honest, does any stock really follow much logic? It follows more logic than bitcoin. But it doesn’t follow much. Being able to read the tea leaves is pretty unlikely.”
Zitron got into mining by leveraging some bitcoin he purchased at a low price years ago. And as opposed to just buying the coins on internet exchanges, mining provides him some security because he consistently gets more coins, even if their values fluctuate. But he’s only put in money that he says he can afford to lose. He feels for those people who just want to make a quick buck during tough times.
Zitron thinks of buying cryptocurrencies as little more than glorified gambling. Like at a craps table, you place your bets and roll the dice, hoping that your gut prediction is rewarded. He compares it also to the Gold Rush—wherein a bunch of prospectors went broke looking for the gold that mostly ended up in the hands of larger conglomerates. He says now that the cost of getting into and staying in the game has gotten so high, it’s mostly a way for the rich to get richer.
Dr. Enrique Pumar, the sociology department chair at Santa Clara University, notes a variety of factors that could push people to engage in riskier investment behavior. In the current economic climate, only 39 percent of Americans report having $1,000 in savings, according to a report by Bankrate.
Pumar offers a few factors that may have contributed to that situation: mounting debt, scaled-back retirement plans, slow wage growth, and the rising costs of college and housing, as well as a lack of knowledge about investing—all this while public trust in major institutions flirts with all-time lows.
Although there’s not much quantitative data, Pumar thinks that all may lead to more risk-taking, especially since Americans are expecting to work much longer than prior generations. They may feel like they have time to save money for retirement.
“People say, ‘wait a minute, I’m not going to retire until 40 years from now. I can be entrepreneurial, and, if I have a little bit of money, I can play around with it. Because if it works out, I lucked out. If it doesn’t work out, I have plenty of time to make up the difference,’” he says.
So with all this financial uncertainty, some Americans have tossed their money at something they think promises to make them rich quickly, and cryptocurrencies can be a tremendous opportunity to make money. In January of 2017, this was an industry valued at more than $830 billion. Ten days later, that number dropped by more than $360 billion, and nobody knows why. But no one knows why the stock market does what it does, either. Wall Street’s last crash erased $19.2 trillion in household wealth from 2007 to 2009, according to the U.S. Department of the Treasury.
After the Meetup ended, I wandered the nearly empty facility, staring at hundreds of cubicles underneath dozens of signs bearing the logos of startups. There’s no guarantee they’ll make it—just like most of us have no guarantee we’ll get a raise, a promotion or even a job that will pay us as long as we need money. So with most of America facing a steep uphill climb to financial security, it’s hard to blame folks for investigating a shortcut.
“They just wanted a chance at a better life,” Zitron says. “On one hand, you could say it’s risky. And it absolutely was. It definitely was a stupid decision to invest in funny money. But what more human thing is there, than [thinking] ‘this is going to work’ and taking a chance? It’s not smart. But it’s human.”