Amazon’s robust holiday shopping quarter garnered $125.5 billion in sales and net income of $7.2 billion, the first time the company reached $100+ billion in quarterly revenue, and only days after Apple achieved the same milestone. Amazon amped up sales when it moved its two-day Prime Day shopping event from summer to October. The company’s overall 2020 sales hit $386.1 billion, a 38-percent year-over-year jump. According to analysts, e-commerce grew about 50 percent during the last year due to the coronavirus pandemic. Continue reading Amazon Exceeds $100 Billion in Quarterly Sales for First Time

Amazon has unveiled plans for its HQ2 complex to be located in northern Virginia and accommodate about 13,000 employees with “room for more.” The “centerpiece” is the Helix, a 350-foot tower featuring two spiraling walkways with native plants and trees that twist to the building’s highest point. The development, which highlights an “outdoors theme,” also includes three 22-story office buildings, smaller retail buildings in a woodsy setting, an outdoor amphitheater, a dog run and parking for about 950 bicycles. Continue reading Amazon Plans for HQ2 Include Helix Tower, Outdoors Theme

When Facebook launched Groups in 2019, it was intended to be, per chief executive Mark Zuckerberg, the “heart of the app.” This last August, however, its own data scientists warned about “blatant misinformation and calls to violence” in the site’s top “civic” Groups. Facebook was aware of the problems for years but accelerated plans to make actual changes after rioters broke into and vandalized the U.S. Capitol on January 6. The Groups in question, dedicated to politics, together reached “hundreds of millions of users.” Continue reading Facebook Plans Changes to Groups, Controls for Advertisers

The COVID-19 pandemic is driving increased demand for augmented reality at some companies, including Mercedes-Benz and L’Oréal (whose brands include Lancôme, Kiehl’s and Maybelline New York), in the last year. L’Oréal chief digital officer Lubomira Rochet stated that, “we saw the appetite, it grew and it’s our responsibility now to continue to innovate.” That company has debuted a number of AR projects for employees and customers in the last few months. One uses ModiFace AR to connect consumers with beauty advisers. Continue reading Pandemic Is Accelerating the Adoption of Augmented Reality

In its first fiscal quarter, ending December 2020, Apple earned record-breaking profits with $111.4 billion in sales driven by high-end iPhone sales and a pandemic-related demand for laptops and tablets. Investors are worried if high-flying companies including Tesla and Facebook can sustain rapid growth. Tesla posted a sixth straight quarter of profits and Facebook also reported record net income. But Apple’s strong numbers came under attack from Facebook chief executive Mark Zuckerberg, who sees the company as a rival. Continue reading Apple Reports Record-Breaking Profits for Fiscal First Quarter

Facebook chief executive Mark Zuckerberg has identified Apple as one of the company’s biggest rivals, even as it posted record-breaking revenue and profit in Q4. The two companies have clashed over data collection, app-store fees and, most recently, Apple’s plan to enable users to opt-out of data collection by third-party apps. That disadvantages Facebook, which has become an online advertising giant. Zuckerberg noted that Apple’s move will interfere with Facebook’s ability to target ads to its 1.85 billion daily users. Continue reading Zuckerberg Anticipates Broader Competition with Rival Apple

Individual investors are savoring their win over hedge-fund investors of GameStop, AMC Entertainment, BlackBerry and other companies perceived to be failing. As stocks go through the roof, individual investors gather on Reddit, Discord, Facebook and Twitter to encourage each other and brag, while investors lose the money they bet on short-selling stocks of troubled companies. Treasury Secretary Janet Yellen and her economic team are monitoring the situation. The SEC revealed it was “evaluating the extreme price volatility of certain stocks’ trading prices over the past several days” and would “review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities.” Continue reading Government Monitoring Trade Activity of AMC and GameStop

Senator Amy Klobuchar, once an avid supporter of Big Tech companies and now Senate antitrust panel leader, is expected to play a role in bipartisan efforts to impose regulations on those companies’ market power and data privacy policies. Facebook and Google face federal and state allegations of anticompetitive behavior and Amazon and Apple are under investigation for antitrust violations. President Biden and others in his administration have vowed to hold Big Tech accountable for users’ speech on their sites. Continue reading Bipartisan Efforts Underway to Regulate Big Tech Companies

Australia is introducing a law that would make Google, Facebook and possibly other tech companies pay news publishers for their content. In response, Google threatened to remove its search engine from the country, fearing the law would set a dangerous precedent. Australian prime minister Scott Morrison said the country’s lawmakers will not respond to threats. News makes up 12.5 percent of Google searches there. In France, meanwhile, Google inked a deal with that country’s media publishers to negotiate individual license agreements. Continue reading Australia Proposes Google, Facebook Pay for News Content

Google issued its first formal rejoinder to the Justice Department’s charges that the company has used its position, including deals with other Big Tech companies, to maintain its dominance in online search. Google denies, in a sentence-by-sentence rebuttal, charges of violating antitrust laws or engaging in anticompetitive behavior. Evidence was uncovered that Google and Facebook agreed to “cooperate and assist” one another should they be investigated for working together on online advertising. Continue reading Google Files First Formal Counter to Justice Department Suit

Companies such as Intel and Nvidia have long dominated the design and manufacture of semiconductor chips, but they are now facing competition from their own customers. Amazon, Google and Microsoft, all of which have seen strong growth in cloud computing, are looking to create their own chips to ensure better performance and lower costs. Amazon, for example, debuted a chip intended to speed up AI algorithms. Traditional chip manufacturers are creating specialized processors to retain their long-time customers. Continue reading Chipmakers Intel, Nvidia Now Compete with Their Customers

New Zealand-based Weta Digital, a visual effects company that has worked on such high-profile films as “Avatar” and “Avengers: Endgame,” is making a play to create its own original content. Co-founded by “Lord of the Rings” director Peter Jackson, Weta Digital recently added firepower to its board of directors, including former Disney chief operating officer Tom Staggs, and is also searching to make strategic purchases in the special effects and animation business since animation can be produced remotely during the coronavirus pandemic. Continue reading VFX House Weta Digital Aims to Become a Content Producer

Walmart and TikTok partnered to create a shoppable one-hour live-stream event let week — the Holiday Shop-Along Spectacular — that allowed TikTok creators to feature Walmart fashion items that users can buy without leaving the app. This is the first time that TikTok has hosted such a shoppable live stream in the U.S. Following the event, the items will continue to be featured and available for sale on Walmart’s TikTok page. Walmart is not sharing revenues with TikTok. Meanwhile, Instagram is also bringing shopping to Reels. Continue reading Walmart and TikTok Team Up for Shopping via Live Streaming

Facebook took the offense against Apple for its new policies limiting personalized ads on its products, stating that this would disproportionately hurt small businesses that rely on such ads. It pointed to internal research that found small businesses earned 60 percent less without access to targeted advertising. Facebook vice president for ads and business products Dan Levy called Apple’s move anticompetitive, benefitting the company’s own profits at the expense of not just small businesses but also app developers. Continue reading Tension Erupts Between Apple, Facebook Over Targeted Ads

In the U.S. District Court for the Eastern District of Texas, 10 state attorneys general charged Google with abusing its dominance by overcharging publishers for ads and elbowing out rivals. The lawsuit also contends that Google struck a deal with Facebook to limit the latter’s efforts to compete for ads. Google claimed the suit is “baseless” and said that it intends to fight it. Another group of states is expected to file a case against Google. This lawsuit is the first to focus on tools that connect buyers and publishers of ad space. Continue reading States Focus on Ad Tech in Antitrust Lawsuit Against Google