Twitter banned a ton of fake accounts this quarter, and as a result, not only lost 1 million active users, but also saw their stock take a dump. Even though they made $20 million in the process. But Wall Street says that Twitter isn't growing, and as a result, the value declined. Even Facebook took a hit this week, in the single largest stock loss in Wall Street trading history. $120 Billion in lost value. Mark Zuckerberg lost over half his personal wealth. But Leo says he'll likely bounce back over time.
Celebrating its 10th anniversary, the Apple App Store has created millions of jobs and is a multi billion dollar industry worldwide. Leo says that it is estimated that Apple sees over $100 Billion a month in app sales.
A federal judge approved the merger of Time Warner and AT&T this week, opening the floodgates for even more large mega corporate mergers. Comcast moved almost instantly to provide a massive bid on 21st Century Fox, outbidding Disney by over 15%, setting off a huge bidding war. Leo says that the judge got it wrong and this represents a serious problem for consumers, even though customers like it because it saves them money in the short run.
Doctor Mom heard about Amazon Alexa recording conversations and sending them to contacts by mistake. How can she make sure that doesn't happen, since she is a doctor and has HIPPA concerns? Leo says Business Insider has a piece on how to prevent it, here.
Europe's new General Data Protection Regulation or GDPR has gone in effect, and it has some teeth as companies who fail to comply will face a fine of 4% of their annual income. Leo says that larger companies could face fines in the millions. Leo also says that companies have 72 hours to report all data breaches and give customers the right to have their data deleted upon request.
Google I/O kicks off a busy developer season this week. Followed by Microsoft's developer conference later this week, then Facebook's F8 and finishing up with Apple's Worldwide Developers Conference in June. Leo says that both Google and Microsoft will have a message on Progressive Web Apps. These are apps that will be web centric, with the idea that you can download pieces of the app that will operate off line, but with the rest of the work on a backend in the cloud. Leo says that it's no longer about the operating system.
April has been a bad month for self driving cars, as both a driver and pedestrian have died from accidents. Leo says that California is giving Google a permit for a self driving car called WayMo, which will have no safety driver. The irony isn't lost on Leo, and while he believes that self driving cars are better than human control, they're never going to be 100%. There's more testing that needs to be done and they should have a safety driver until the bugs are ironed out.
Now that pin numbers have been associated with credit cards via the chip, the major credit card companies have announced that effective today, they will no longer require a signature when using a credit card. Leo says that's not only not surprising, but merchants rarely check anyway. But those who do, can still require it for their own records.
In light of the Cambridge Analytica scandal, Facebook's Mark Zuckerberg has continued apologizing for allowing user data breaches that violated people's privacy. The problem though, according to Leo, is that he's been apologizing for the same thing since college. He's really learned nothing.
News has come out the US Department of Homeland Security is compiling a list of press, influencers, and bloggers to just keep track of what they report in pertaining to National Security. Leo says that this is something that we should be vigilant in watching because it could be very easy to misuse such data.