In 1979, when Sony introduced the Walkman—a 14-ounce cassette player, blue and silver with buttons that made a satisfying chunk when pushed—even the engineers inside Sony weren’t impressed. It wasn’t particularly innovative; cassette players already existed, and so did headphones. Plus, the Walkman could only play back—it couldn’t record. Who was going to want a device like that?
WITHIN HOURS OF its splashy Libra announcement last month, Facebook’s cryptocurrency plans had become a political cudgel. Drawing on Facebook’s privacy missteps and a gathering storm over antitrust, lawmakers swiftly demanded the company halt work on Libra while it addressed how it would avoid past mistakes. Those calls didn’t pose an immediate threat. Now, though, the project is getting attention from those who could potentially cool or delay Facebook’s ambitions: global regulators. Continue reading THE FED CHAIR SAYS FACEBOOK’S LIBRA RAISES ‘SERIOUS CONCERNS’
Marriott might soon face a stiff penalty for the massive November 2018 data breach. The UK’s Information Commissioner’s Office plans to fine the hotel chain £99,200,396 (about $123.7 million) for allegedly violating the EU’s General Data Protection Regulation through the incident. Marriott didn’t conduct “sufficient due diligence” when it bought Starwood, according to the regulator, and “should also have done more” to improve security.