Your boy is back!
I had to spend some time away with the mrs. and wasn’t on the one and two’s last week on First News 570. Despite the big breakdowns in technology during last week’s Consumer Electronics Show, I think these stories are a little more compelling. Mark and I discussed these stories this morning with Asheville’s listeners.
THE SPECULATORS GIVETH AND THEY TAKETH AWAY
For the first time since December 2017, Bitcoin’s value has dropped below $10,000. It’s easy for me to go out on the Internet and say, I told you so. Yesterday, Bitcoin closed at the price of $9, 958, in essence losing 53% of its value. Analysts are finding a few reasons why BTC is closing down, South Korea is thinking about imposing trading restrictions on the currency, the Chinese are intending to restrict local trading platforms for the currency, Bitconnect, a BTC lending and exchange platform, stated that they were shutting down their service after receiving cease and desist letters from US government regulators, and of course, Warren Buffet has flat out stated he hasn’t invested any of Berkshire Hathaway’s money in BTC investments, and doesn’t plan to. I told you so.
APPLE PAYS WHOPPING $38 BILLION TAX BILL AND ANNOUNCES $350 BILLIONS IN INVESTMENT
The California fruit company, Apple, has announced that it is paying $38 BILLION in overseas tax payments on $252 BILLION, BILLION with a ‘B”, of cold hard cash it’s holding in overseas banks. The announcement follows its plan to spend $350 BILLION, I think this is the most times I’ve said BILLION in a paragraph, over the next 5 years in the US on a new 2*PI*r campus in Cupertino. Apple holds more cash in hand than any other company in the world and its burning a whole in its pocket. How about investing 20 million in Studio?
IT’S TRUE, IT’S TRUE. FACBOOK’S NEWS FEED BOOSTS FAKE NEWS
We already know that actors using social networking platforms may have influenced at least one presidential election, and now we’re finding out that Facebook’s news feed may be a spreader of fake news. The New York Times is reporting that Facebook is testing a new feature called Explore, which separates posts from user content and news stories. According to the Times, a fake news story began to spread in Slovakia involving a muslim man who thanked someone for returning his wallet by revealing a terrorist plot. At the same time fake news was spreading, publishers like the Times and others are seeing their clicks fall. This new feature follows Facebook CEO Mark Zuckerburgs desire to increase individual connections opposed to the constant sharing of vitriolic news reports on the platform. All of this is following data and anecdotal evidence that time spent on Facebook isn’t the most valuable and doesn’t lead to peace of mind. We’ll see what happens.