New York passed a bill in June legalizing daily fantasy sports, enabling popular services such as DraftKings and FanDuel to operate in the state. Yesterday, Governor Andrew Cuomo signed the bill into law. “Daily fantasy sports have proven to be popular in New York, but until now have operated with no supervision and no protections for players,” explained Cuomo. “This legislation strikes the right balance that allows this activity to continue with oversight from state regulators, new consumer protections, and more funding for education.” Continue reading New York Governor Signs Bill Legalizing Daily Fantasy Sports

Magic Leap has not yet set a date to unveil its mixed reality technology, and didn’t do so at a recent Fortune conference in Aspen. There, Magic Leap founder/chief executive Rony Abovitz and chief marketing officer Brian Wallace said the technology is “very real” and “not a research project anymore.” Some listeners detected a hint that a product might be released this fall, but Abovitz and Wallace never made an overt statement. The most they would say is that the public would see its products “soonish.” Continue reading Magic Leap Still Mum on Release Date, Describes Production

In the Industrial Revolution, ideas were more portable than machines, helping to spread change globally. Not so with today’s high-tech startups. Although U.S. cities as far-flung as Denver, Austin, Chattanooga and Washington, DC boast startup centers, Silicon Valley is far and away the biggest for new technology companies, offering experienced talent and more capital. Even as other cities evolve, Silicon Valley grows faster, leaving startups elsewhere at a competitive disadvantage. Continue reading Silicon Valley Still Dominates Tech Startup Culture and Power

The New York legislature passed a bill over the weekend that would legalize and regulate fantasy sports in the state. Last fall, Attorney General Eric Schneiderman said daily fantasy sports are a violation of state gambling laws; courts then ruled to shut down DraftKings and FanDuel. The new decision could impact the industry’s ongoing efforts “to pass bills in statehouses that would validate its contention the practice isn’t gambling and shouldn’t be subject to state gambling bans or other restrictions,” reports The Wall Street Journal. “The industry has won passage of bills in Indiana, Virginia, Tennessee, Mississippi, Missouri and Colorado, but it has lost battles in several other states.” Continue reading Fantasy Sports May Return to New York if Governor Signs Bill

States that want to collect sales taxes from out-of-state Internet e-tailers are tired of waiting for Congress to act. As a result, they’re passing state laws to do so. Alabama, South Dakota, Utah and 10 other states have passed legislation that directly contradicts the standing national law that states can only apply tax to businesses with brick-and-mortar locations there. State legislators are hoping that by challenging the existing law, they will spur litigation and force Congress to re-examine the issue. Continue reading States Push Web Tax, Hoping to Spur Litigation and Legislation

Amazon recently confirmed that it has acquired 2lemetry, a startup with a focus on creating real value of data being processed and shared via Internet-connected devices. Under Amazon, Denver-based 2lemetry will continue to service its existing clientele, which includes companies such as Honeywell and First Mile. All other deal details remain undisclosed. Amazon’s acquisition of 2lemetry reflects the company’s early efforts to develop an Internet of Things business strategy. Continue reading IoT: Amazon Acquires Connected Enterprise Startup 2lemetry

Gannett is once again experimenting with ways to approach journalism through virtual reality technology. This time, the company created the “World Championships Skiing Virtual Reality Experience.” Viewers can be transported to Vail, Colorado where they can watch the skiers train and hang out — or even ski down the mountain themselves. The experience features 360-degree footage of the FIS Alpine World Ski Championships and there is a 2D version for people who do not have access to an Oculus Rift. Continue reading Gannett’s Oculus Rift Experiment Covers Skiing Championships

Elon Musk, entrepreneur and CEO of SpaceX and Tesla Motors, has set global Internet access as his most recent endeavor. Working together with former Google executive and WorldVu Satellites founder Greg Wyler, Musk plans to design smaller and less expensive satellites that would compete with those already in space. Sources predict that the duo plans to launch close to 700 of these satellites. The projected cost of the project is in the range of about $1 billion. Continue reading Elon Musk Plans to Provide Internet Access on a Global Scale

DirecTV announced that it will offer its NFL Sunday Ticket to certain consumers who do not have a satellite subscription. Sports fans can register via NFLSundayTicket.TV to access streaming of live games on laptops, smartphones, tablets or game consoles. To qualify, viewers must live in an apartment building where DirecTV is not available, attend one of the universities included in DirecTV’s list, or live in metropolitan New York, San Francisco or Philadelphia.  Continue reading DirecTV Introduces NFL Sunday Ticket Free of TV Subscription

Twitter has agreed to purchase data partner Gnip, in a move that could lead to an expanded role by Twitter in analyzing tweets for businesses that are seeking new insights from social media. While financial terms of the deal have yet to be released, Gnip has reportedly raised $6.6 million in funding. Twitter also announced that it has hired Daniel Graf as its new product chief. Graf, an expert in mobile apps, most recently served as a director at Google where he oversaw Google Maps. Continue reading Twitter Acquires Gnip, Could Provide More Data to Advertisers

As Hollywood studios are shifting from distributing movies on film to digital distribution via hard drives and satellite, many small theaters cannot afford $60,000 or more to upgrade and support the new technology. Theater owners are faced with the difficult decision between investing in new equipment or closing down their theaters. Meanwhile, most major U.S. cinema chains have already converted to digital cinema, many with the support of Wall Street-financed programs. Continue reading Small Theaters Face Challenges in Shift to Digital Distribution

IP video startup Layer3 TV announced that it has raised $21 million in Series A funding. The company, staffed by cable industry veterans, describes itself as “a next-generation cable provider” combining “the best of television, social media, and digital life.” Executives include CEO Jeff Binder (founder of VOD company Broadbus Technologies), CTO David Fellows (formerly of Comcast and AT&T Broadband), and Chuck Hasek as head of video technology (formerly principal architect of video systems at Time Warner Cable). Continue reading Notable Cable Industry Vets Raise $21 Million for Layer3 TV

TV startup Aereo has temporarily shut down its service in Denver and Salt Lake City. The U.S. Court of Appeals for the Tenth Circuit refused to overturn a preliminary injunction granted by a Utah District Court judge that prohibits Aereo from operating in Colorado, Montana, New Mexico, Oklahoma, Utah and Wyoming. Aereo is issuing full refunds for this month to customers in the two cities. Despite the setback, Aereo continues its expansion with a recent launch in Austin, Texas one week before the SXSW conference. Continue reading Aereo: Internet TV Service on Hold in Denver and Salt Lake City