[INSIDERS] 5 Tech Info to Shine in Society
The famous American chain specializing in toys has placed itself under the protection of Chapter 11, governing bankruptcies in the United States, to restructure a debt of over $ 5 billion, of which 400 million will expire in 2018. On reading this article by Quartz, we understand that a badly negotiated digital shift in the early 2000s is the source of some of the distribution giant’s problems.
In the heyday of dot com, Toys “R” Us signed a 10-year strategic partnership with Amazon to ally in the sale of toys online: Amazon took care of the site, the management of the orders, and Toys “R” Us took care of purchases and stocks – and became the exclusive partner of Amazon in this sector .
In 2004, Amazon began to distribute competing products, ignoring its commitments. The conflict was settled in the courts and Amazon agreed to pay $ 51 million to end the litigation in 2009.
In the meantime, Toys “R” Us has been lagging behind digital more than a lot, “10 years of innovation ” to catch up. The brand recruited its first global chief technology officer in 2016 and launched a proper commerce site only this year.
We already told you about the Equifax cyberattack, which exposed data from over 143 million Americans. Equifax is one of the three major US companies specializing in credit assessment and as such has very personal and sensitive data on its customers. Since the revelation of the case, several information has come to darken the picture, between technical negligence and possible insider trading. We recap the last episodes
- Equifax said the flaw was the result of a vulnerability Apache Struts. Problem: a corrective patch was made available in March, while the hacking would take place from May to July … Equifax did not say if it had fixed the bug before the attack.
- The departures of Equifax’s chief information security officer, Susan Mauldin, and IT director, David Webb, announced by press release. Susan Mauldin was also taken to task for her lack of academic training, when her LinkedIn profile indicating a university degree in music began to circulate on the networks.
- Equifax announced asee a first attack in March, which the company says, however, would be unrelated to that of May, while the Bloomberg sources would point to the opposite.
- Brian Krebs, a famous American blogger specializing in computer security revealed that a Equifax Argentina intranet was protected by login / password: admin / admin (haha.)
- The authorities seize the case : the FTC (Federal Trade Commission) for the consumer protection component, and the Department of Justice for the suspicion of insider trading, in collaboration with the SEC (Securities and Exchange Commission) in connection with the sale of securities carried out by three senior executives of the company a few days before the hack was made public
John Chambers, who was CEO of Cisco between January 1995 and July 2016, will be replaced by current CEO Chuck Robbins, who will become CEO. Under the reign of the one who started in the company as head of sales, Cisco’s annual revenues have grown from $ 1.2 billion to nearly $ 50 billion.. John Chambers will receive the honorary title of President Emeritus.
Vision Fund is everywhere, strong of its almost $ 100 billion intended for investment in startups and new technologies, a staggering sum that makes it the largest private equity fund in the world. Created in October 2016 by the Japanese group SoftBank, and managed by its boss and founder Masayoshi Son, Vision Fund is supported by tech companies (Apple, Qualcomm, Oracle, Sharp) as well as sovereign funds (Saudi Arabia, United Arab Emirates ).
After injecting $ 4.4 billion into WeWork, $ 1 billion into Fanatics, and yesterday $ 250 million into Slack, and pending an announcement for Uber, which is assumed to be the most massive to date, the site Recode has compiled in a single graph the investments made to date by Vision Fund.
And we finish the Insiders of the day, which I notice a posteriori with horror that they can only count in billions of dollars, with a new unit like this: Intel announced yesterday that it had injected more than $ 1 billion into artificial intelligence-related start-ups, via its investment vehicle Intel Capital.
Mighty AI, Data Robot, Lumiata, AEye… Here are some of the companies that have caught the attention of the founder, who wishes to position themselves on the broad spectrum of activities which are concerned by the development of artificial intelligence: autonomous driving, medical research, climate change… These investments are in addition to the acquisitions already made by Intel in this area. Read it on TechCrunch : Intel Capital has invested over $ 1 billion in companies focused on AI