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02 Jan 23:41

Amazon and Microsoft have yet to roll out their smart assistant partnership

by Ashley Carman

Microsoft and Amazon were supposed to play nice this past year and make their respective digital assistants available on each other's platforms, allowing users to access Microsoft's Cortana assistant on an Amazon Echo, or Alexa on any Windows 10 PC. The company said the cross-platform features would roll out by the end of 2017, but they have yet to make good on that deadline. (Thanks, Thurrott, for first spotting the missed timeline.)

The New York Times reported in August that someone using an Alexa device will have to say “Alexa, open Cortana” to access Microsoft’s digital assistant, and someone using Cortana will have to say “Cortana, open Alexa” to talk to Amazon’s. Both companies seem to have created skills on each other's platforms...

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02 Jan 17:15

Google is now testing its mysterious Fuchsia OS on the Pixelbook

by Tom Warren

Google has been experimenting with a new operating system, Fuchsia, for more than a year. Created by Google and open-sourced for a developer community to contribute to, Fuchsia is still a mysterious operating system that the search giant hasn’t detailed at all. Chrome Unboxed reports that Google has now released documentation to allow developers to load Fuchsia onto the company’s Pixelbook.

This isn’t your typical developer operating system, and you’ll need two machines to host and target a Pixelbook to load the OS. It’s very much a work in progress, with early hints at a user interface and functions. It’s still interesting that Google has chosen its own Pixelbook to experiment with, though. Fuchsia has mostly been linked to embedded...

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02 Jan 17:13

Ripple's co-founder is one of the world's richest people after XRP's 37,000% rise

by Graham Rapier

Chris Larsen Linkedin

  • Chris Larsen, the co-founder and former CEO of Ripple owns 5.19 billion XRP, Forbes reported Tuesday.
  • That stash, plus a 17% stake in the company, means he could be worth $37.3 billion.


XRP, a cryptocurrency for international money transfers by the fintech company Ripple, has been on a tear this winter, skyrocketing to the No. 2 cryptocurrency by market cap.

That astronomical rise to $2.47 a coin — up from $0.25 in mid-December — has made the co-founder and former CEO of the company one of the world’s richest people.

Chris Larsen, who founded Ripple Labs — now known as just Ripple — in 2012, owns 5.19 billion of its XRP cryptocurrency, Forbes reports. At Tuesday’s exchange rate, that gives his holdings a value of $12.82 billion. 

Forbes also reports that Larsen owns a 17% stake in the company, citing sources inside the firm, bringing his total net worth to $37.3 billion. That would make him the 21st richest person in the world, according to Bloomberg’s Billionaire Index — just behind Indian business magnate Mukesh Ambani.

The 57-year-old stepped down as CEO of Ripple in November 2016, turning over the reigns to current CEO Brad Garlinghouse, who owns a 6.3% stake in the company, Forbes reports. Larsen currently serves as chairman.

XRP was easily the best performing cryptocurrency of 2017, rising 37,900% from $0.0065 per token in January 2017, to $2.47 by the end of the year. The cryptocurrency now has a market cap of $94 billion, according to CoinMarketCap.com, placing it behind only bitcoin in total value.

XRP

SEE ALSO: Ripple hires Facebook communications manager after its cryptocurrency triples in a week

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NOW WATCH: Why bitcoin checks all the boxes of a bubble

02 Jan 17:13

Huawei reports slowest revenue growth in 4 years

by Rayna Hollander

Huawei Smartphone shipments

This story was delivered to BI Intelligence Apps and Platforms Briefing subscribers hours before appearing on Business Insider. To be the first to know, please click here.

Chinese smartphone vendor Huawei is expecting revenue growth of 15% for 2017, a notable deceleration from 32% revenue growth in 2016 and the company's slowest calendar year growth period since 2013, according to Huawei chief executive Ken Hu.

This deceleration is due in part to a shift in Huawei’s smartphone strategy which has constrained growth of its mobile devices unit; Revenue from Huawei’s Consumer Business group, which includes smartphones and smartwatches, is expected to increase 30% in 2017, decelerating from 44% in 2016 and 73% in 2015.

Smartphone shipments for 2017 are projected to reach 153 million units and grow 9% over 2016, representing a slowdown from the 40% growth Huawei saw in 2016 over 2015 (see chart, below).

Huawei has undertaken two major smartphone strategy shifts in 2017 that are impacting its growth. First, the company announced in July 2017 that it would give up on low-end smartphones, opting instead to focus only on mid-range and premium devices. Second, Huawei is focusing on growing in developed foreign markets due to competition from other Chinese vendors both at home and abroad. Here's why Huawei's looking to high-end device sales outside of China: 

  • Huawei is the market leader in China, but it can’t rely on its home market for growth as smartphone adoption there slows. Smartphone adoption in China was 71% in 2016 and will crawl to 74% in 2020, according to the GSMA. As adoption in China grows, shipment growth will be limited to users upgrading their handsets, rather than from new purchases of smartphones.
  • Competing Chinese smartphone vendors are growing their presence in emerging markets, most notably with low-end devices. Xiaomi doubled its share of the global smartphone market in Q3 2017 over Q3 2016, as it YoY shipments growth 103% according to the IDC. Meanwhile smartphone shipments for OPPO, the fourth largest smartphone vendor globally in terms of shipments, grew 19%. That’s compared to Huawei’s 16% increase in global smartphone shipments in Q3. Xiaomi and OPPO haveboth heavily invested in growing shipments in India, but Huawei’s shift to high-end devices indicates it will look to developed markets for smartphone growth.

One key market Huawei is eyeing for expansion is the US. Huawei is reportedly in talks with US carriers Verizon and AT&T about selling its smartphones to US consumers in 2018. Huawei already sells its budget devices in the US via Amazon, Walmart and other retailers, but working directly with US carriers could help guarantee success in the market because selling devices via telecoms, which are the dominant distribution channels in the nation, could strengthen its presence in the US.

And the newfound ability to further tap into the world’s third-largest smartphone market will help the Huawei expand its global smartphone shares further, which can in turn, boost smartphone revenue. This method has worked for Huawei's expansion efforts in other developed markets, where partnering with telecoms has helped the company challenge Apple and Samsung in mid-range and premium devices.

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01 Jan 20:48

Robocalls were worse than ever in 2017

by Adi Robertson

Complaints about automated telemarketing calls jumped steeply last year, and have quintupled since 2009, according to a recent FTC report. The report says that in fiscal year 2017, the agency received over 375,000 complaints per month about automated robocalls, up from only 63,000 per month in 2009. That’s a total of 4.5 million robocall complaints, plus an additional 2.5 million complaints about live telemarketing calls. For comparison, there were 3.4 million robocalls and 1.8 million live calls in 2016. (The FCC also regulates robocalls, but has received far fewer complaints — only 185,000 since August of 2016.)

The report says that robocalls are steadily increasing because of cheap access to internet calling services and autodialing,...

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01 Jan 20:48

Millennials are breaking the one big salary taboo — here are 6 reasons why

by Chris Weller

millennials

Ask a baby boomer about their salary, and you'll probably get a dirty look. But ask someone in their 20s or 30s, and the response might be different.

A survey conducted by The Cashlorette, a personal-finance site run by Bankrate, found that people 18 to 36 were far more comfortable than older workers discussing their salaries with coworkers, friends, and family members.

Thirty percent of millennials surveyed said they felt comfortable discussing pay with their coworkers. Meanwhile, just 8% of those aged 53 to 71 said they felt the same.

Millennials also said they discussed pay more with their family and friends.

Here are a handful of reasons to explain the budding trend.

SEE ALSO: The Texas church shooter was 26 — and it shows a disturbing trend about millennial men and mass murder

Millennials value equality and fairness.

There's a wealth of evidence that millennials emphasize fairness in both life and work, constituting things like diversity in the workplace and gender equality.

A 2016 Deloitte survey found that 36% of millennials working in a place with high job satisfaction said there was an emphasis on fairness, while only 17% of people in low-satisfaction jobs said the same.



Millennials value transparency.

The same Deloitte survey found that open communication was one of the guiding forces of job satisfaction where millennials work.

Forty-seven percent of millennials who said they were happy with their jobs reported that there was "open and free-flowing communication" at work, while 26% of people who were dissatisfied said the same.

The market-research firm ORC International has found in its studies that the average millennial wants to know how they're doing 71 times a year.



Millennials prefer to collaborate, not compete.

If people are focused on one-upping their colleagues, they may be more likely to keep their salary a secret. But millennials largely prefer to work together with their peers, not compete with them.

Malcolm Harris and Neal Gorenflo, the authors of the book "Share or Die," explain how the mindset applies not just to jobs, but to living situations and ride-sharing.



See the rest of the story at Business Insider
31 Dec 19:21

Chocolate is on track to go extinct in 40 years

by Erin Brodwin

CRISPR FEATURE Myeong-Je Cho looking at wheat

  • Cacao plants are slated to disappear by as early as 2050 thanks to warmer temperatures and dryer weather conditions.
  • Scientists at the University of California are teaming up with Mars company to try to save the crop before it's too late.
  • They're exploring the possibility of using the gene-editing technology CRISPR to make crops that can survive the new challenges.

Beyond the glittery glass-and-sandstone walls of the University of California’s new biosciences building, rows of tiny green cacao seedlings in refrigerated greenhouses await judgment day.

Under the watchful eye of Myeong-Je Cho, the director of plant genomics at an institute that's working with food and candy company Mars, the plants will be transformed. If all goes well, these tiny seedlings will soon be capable of surviving — and thriving — in the dryer, warmer climate that is sending chills through the spines of farmers across the globe.

It's all thanks to a new technology called CRISPR, which allows for tiny, precise tweaks to DNA that were never possible before. These tweaks are already being used to make crops cheaper and more reliable. But their most important use may be in the developing world, where many of the plants that people rely on to avoid starvation are threatened by the impacts of climate change, including more pests and a lack of water.

Cacao plants occupy a precarious position on the globe. They can only grow within a narrow strip of rainforested land roughly 20 degrees north and south of the equator, where temperature, rain, and humidity all stay relatively constant throughout the year. Over half of the world's chocolate now comes from just two countries in West Africa — Côte d’Ivoire and Ghana.

But those areas won't be suitable for chocolate in the next few decades. By 2050, rising temperatures will push today's chocolate-growing regions more than 1,000 feet uphill into mountainous terrain — much of which is currently preserved for wildlife, according to the National Oceanic and Atmospheric Administration. 

Mars Snickers

Mars, the $35 billion corporation best known for Snickers, is aware of these problems and others presented by climate change.

In September, the company pledged $1 billion as part of an effort called "Sustainability in a Generation," which aims to reduce the carbon footprint of its business and supply chain by more than 60% by 2050.

"We're trying to go all in here," Barry Parkin, Mars' chief sustainability officer, told Business Insider. "There are obviously commitments the world is leaning into but, frankly, we don't think we're getting there fast enough collectively."

Its initiative with Cho at UC Berkeley is another arm of that efforts. If all goes as planned, they could develop cacao plants that don’t wilt or rot at their current elevations, doing away with the need to relocate farms or find another approach.

Jennifer Doudna, the UC Berkeley geneticist who invented CRISPR, is overseeing the collaboration with Mars. Although her tool has received more attention for its potential to eradicate human diseases and make so-called “designer babies,” Doudna thinks its most profound applications won’t be on humans but rather on the food they eat.

Mars, chocolate, M&Ms, factory tour

An avid tomato gardener, Doudna thinks her tool can benefit everyone from large food companies like Mars to individual hobbyists like herself.

”Personally, I’d love a tomato plant with fruit that stayed on the vine longer,” Doudna told Business Insider.

The research lab she oversees at UC Berkeley is called the Innovative Genomics Institute. Many of the efforts by graduate students there focus on using CRISPR to benefit small-holder farmers in the developing world. One such project aims to protect cassava — a key crop that prevents millions of people from starving each year — from climate change by tweaking its DNA to produce less of a dangerous toxin that it makes in hotter temperatures. 

Doudna founded a company called Caribou Biosciences to put CRISPR into practice, and has also licensed the technology to agricultural company DuPont Pioneer for use in crops like corn and mushrooms. 

Regardless of which crop the public sees CRISPR successfully used in first, the technology will be a key tool in a growing arsenal of techniques we'll need if we plan to continue eating things like chocolate as the planet warms. 

SEE ALSO: 11 things people think are terrible for your diet that actually aren't

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NOW WATCH: Here's how NYC food institution Eli Zabar's makes its legendary chocolate babka

30 Dec 00:33

Samsung and LG say they don’t slow phones with older batteries like Apple

by Jacob Kastrenakes

Following Apple’s apology for its lack of communication over how it manages iPhones with older batteries, Samsung and LG have come out to say that none of their phones employ similar practices. Both companies emailed Phone Arena to say that they don’t slow down their phones’ processors as their batteries age. LG said, “Never have, never will! We care what our customers think.” Samsung said, “We do not reduce CPU performance through software updates over the lifecycles of the phone.”

Samsung and LG’s responses come a day after The Verge reported statements from HTC and Motorola, with both companies saying they did not throttle their phones’ performance as batteries age. Taken together, the statements make it clear that Apple’s battery...

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29 Dec 20:43

In a tweet, President Donald Trump calls on the United States Postal Service to charge Amazon "much more" in postage fees (Justin Sink/Bloomberg)

Justin Sink / Bloomberg:
In a tweet, President Donald Trump calls on the United States Postal Service to charge Amazon “much more” in postage fees  —  Latest criticism of online retailer and its CEO Jeff Bezos  —  Amazon stock opens as much as 0.6 percent lower after tweet

29 Dec 00:45

Apple's battery apology could be its most important ever (AAPL)

by Matt Weinberger

TimCook2016

  • Apple apologized on Thursday for slowing down iPhones with older batteries. 
  • The apology is extraordinary: Apple isn't apologizing for a hardware glitch or a software error; it's apologizing for a choice it consciously made.
  • Apple is adding new features to iOS to tell if your battery is healthy, which it should have had since the beginning.
  • It might be the most far-reaching apology Apple has had to make, and could result in a new way for the company to do business.


Apple's apology on Thursday was an extraordinary move for the company.

The iPhone maker just doesn't say, "I'm sorry," very often, so any apology at all is unusual. But even by those standards, the statement it issued regarding the slowing of iPhones with older batteries was an uncommon one — and it could have important implications.

Apple isn't apologizing for a hardware flaw, as it did with the Antennagate controversy that plagued the iPhone 4. And it's not apologizing for lackluster software, as it did in 2012 when the launch of Apple Maps was a fiasco.

No, Apple is apologizing for something it did intentionally without telling customers about it. What Apple is apologizing for isn't a bug; it's a feature. 

Now that it's been caught, Apple has basically been cornered into making the consumer-friendly moves it should have made in the first place. For the next 12 months, it will replace the batteries in customers' iPhones for $29 each, instead of the previous charge of $79. And its iOS operating system will get new features that will allow users to monitor the health of their batteries. 

But more importantly than those particulars, the apology could fundamentally change a key piece of how Apple does business. 

iPhone 'glitches' could have been fixed by swapping the battery

Many iPhone owners have upgraded their device because their older phone had gotten slow and buggy. Now, we know that in at least some cases — at least in the last year — merely swapping the battery could have fixed the problem, rendering it unnecessary to buy a new phone.

apple antennagate steve jobs 2010

Did Apple purposely keep the battery performance slowdown a secret to drive sales? Apple says no, that it was just trying to prevent phones from shutting down. You can read its apology and decide whether that's credible. Either way, what matters is that Apple knew what it was doing and users didn't.

Now, having apologized, Apple is committed to giving users the information they need to decide whether to upgrade their phone or whether they can just get by with replacing their battery. I know at least one iPhone user who — after Apple's statement — now intends to swap batteries rather than buying a new device. 

This apology will be felt for years to come

This incident — and Apple's response to it — stands apart from past scandals. Antennagate — which involved the iPhone 4's antenna losing signal strength when the phone was gripped a certain way — faded away after Apple offered customers with a free plastic shell for the phone that was supposed to address the problem and after it fixed the design flaw on the next model. Meanwhile, in response to the Maps controversy, Apple has slowly but steadily improved its navigation app so that it's no longer a huge embarrassment and is no longer the focus of customer ire.

But the implications of Apple's decision to add a battery monitoring feature to iOS are likely to endure. This information will be available on iPhones and iPads, for both current models and, presumably, future ones. Every up-to-date iPhone will carry the result of this apology from Apple for years to come. Apple can't back down — it's already essentially admitted that it made a mistake.

And yet, this whole battery-slowdown snafu could have a silver lining for the company. Assuming the data the battery monitoring feature shares is helpful and that the battery replacement program goes off without a hitch, Apple customers will be better informed and have better-functioning iPhones. 

scott forstall apple maps

Sure, Apple likely lost some goodwill. But the end-result of previous fiascos show Apple has a way of bouncing back. Maybe this will serve as a positive lesson to Apple about the value of openness and transparency — things it has long lacked.

Or, as Steve Jobs put it when he apologized for Antennagate: "So we do all this because we love our users. And when we fall short — which we do sometimes — we try harder. We pick ourselves up, we figure out what’s wrong, and we try harder. And when we succeed, they reward us by staying our users, and that makes it all worth it."

SEE ALSO: Apple apologizes for slowing down iPhones with older batteries

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NOW WATCH: The end of the iPhone X cycle could send Apple's stock tumbling

28 Dec 23:59

Ripple hits all time high

by Frank Chaparro

Screen Shot 2017 12 28 at 4.03.49 PM

  • XRP, a cryptocurrency made by Ripple, hit a fresh all-time high Thursday, according to data from Markets Insider
  • The company's Asian subsidiary and a group of Japanese financial services companies announced a consortium earlier on Wednesday. 
  • It was trading at $1.26 a coin Thursday at 4:18 p.m. ET. 


XRP, the cryptocurrency made by Ripple that is focused on bank transfers, hit a fresh all-time high Thursday of $1.30 a coin, according to Markets Insider data. It started December at around $0.25 a coin. 

The cryptocurrency, which is up 71% this week, has been on a tear since Ripple's Asian subsidiary and a group of Japanese credit card companies announced a new consortium Wednesday. The consortium aims to identify how blockchain and distributed ledger technology can be deployed in credit card payments.

The news of the consortium follows a bullish month for the coin, which has been propelled to new heights by interest from Asia, according to reporting by Forbes.

"Asians are going mad for Ripple," Alexey Ivanov, CEO and cofounder of Polynom Crypto Capital, a Moscow-based cryptocurrency and blockchain investment fund manager, told Forbes. 

XRP overtook bitcoin cash as the third largest cryptocurrency on the market on December 14. It is up more than 4,100% year-to-date. 

Founded in 2012 by what was then known as Ripple Labs, XRP aims to use blockchain technology to speed up cross-border money transfers and bank settlements.

Subscribe to our Crypto Insider newsletter for the best of the blockchain every day.

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NOW WATCH: The chief global strategist at Charles Schwab says stocks will keep soaring in 2018

28 Dec 20:47

Google has quietly stopped selling the Pixel C Android tablet

by Dieter Bohn

You’re forgiven if you’ve forgotten about the Pixel C, an Android tablet Google started selling two years ago. At its launch, it was a confounding device with clever (or, as I said in our review, “too clever”) hardware saddled with software that didn’t work well on a tablet. Now its dubious run has ended, as you can no longer buy it from Google’s online store, as noted by Android Police.

Here’s Google’s statement on the “retirement” of the Pixel C:

​As is common when a device has been out for a few years, we're now retiring Pixel C and it is no longer available for sale. However, we are committed to updating and supporting it, including the recent update to Android 8.0, so customers can continue to get the best out of their device. Our...

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28 Dec 19:42

Traders are betting billions that the hottest stocks of 2017 will get crushed (FB, AAPL, AMZN, GOOG, NFLX)

by Akin Oyedele

tim cook trump satya nadella jeff bezos

  • Facebook, Apple, Netflix, and Google are high up on the list of S&P 500 companies that investors added the most notional amount of short interest to this year.
  • They're also among the most heavily shorted right now, according to S3 Partners, a data analytics firm.
  • Short sellers defied the tech rally and increased bets for sell-offs even while they were losing money.

 

The so-called FANGS — Facebook, Apple, Netflix, and Google — helped drive the S&P 500 to what's set to be its best year since 2013.  

But they've also attracted a swarm of short sellers. These are traders who borrow shares, then sell them in the hope they'll become cheaper so they can buy them back at a lower price and pocket the difference.

All the FANG stocks are high up on the list of S&P 500 companies that investors added the most notional amount of short interest, which represents outstanding shares that have been sold short, from January through December 27. 

change in short interest

The data from analytics firm S3 Partners also shows that all the FANG stocks were among the top 10 companies with the highest short interest as of December 27: 

level of short interest

This year through Thursday, Facebook was up 55%, Apple was up 48%, Netflix was up 55%, and Google was up 36%. This kind of run-up is perhaps part of the reason why some traders are betting on a reversal.  

It wasn't surprising that the best-performing stocks in 2017 also drew the most downside bets. What was surprising, S3 Partners noted earlier this year, was that short sellers showed defiance by increasing their positions while their losses mounted. 

One analyst who's skeptical of the FANGs going in 2018 is Tom Lee, the cofounder of Fundstrat.

"We continue to like technology, despite its substantial outperformance in 2017, but we see the performance driven more by non-FANG stocks," he said in a recent note. 

One red flag, he said, is that the FANG rally has them left those stocks with an expensive price-to-earnings ratio near 46. It's worth mentioning that shareholders have been willing to overlook this kind of valuation for big tech; Amazon, for example, is trading at nearly 300 times earnings.  

But there's also the repeal of net neutrality, which means that internet service providers will be able to charge customers more for the services (like Netflix and YouTube videos) they help deliver. It's "ultimately a shift in cost sharing — as those networks sending downstream traffic (to end users) need to potentially compensate telecom/cable networks for traffic imbalances," Lee said. 

Many analysts do expect that the FANGs would continue to rally in 2018, driven by earnings growth and a potential windfall from repatriated cash thanks to tax reform. That would mean another painful year for short sellers. 

SEE ALSO: Here's what 12 Wall Street pros are predicting for the stock market in 2018

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NOW WATCH: PAUL KRUGMAN: Bitcoin is a more obvious bubble than housing was

28 Dec 18:38

SoftBank and its partners are primed to buy around 20% of Uber shares at a huge discount from its previous $69 billion valuation

by Matt Weinberger

Dara Khosrowshahi smile

  • Employees and shareholders have offered to sell at least 20% of Uber to SoftBank.
  • SoftBank will buy the shares at a 30% discount.
  • Assuming the deal goes through, SoftBank has agreed to buy another $1 billion worth of Uber shares at the company's previous $69 billion valuation.


A group of investors led by SoftBank looks set to acquire a 20% stake in Uber at a whopping 30% discount, the Wall Street Journal reported.

SoftBank and its partners offered to buy shares from Uber employees and existing investors at $33 a share, according to Recode. That would value the app-based taxi company at $48 billion, or about 30% less than the $69 billion valuation it had after its last funding round. 

An Uber spokesman confirmed the $48 billion valuation in an emailed statement. If the deal is successful, SoftBank will buy another $1 billion worth of Uber shares at the company's prior $69 billion valuation, the spokesman said.

Following SoftBank's tender offer, Uber employees and investors offered to sell shares equivalent to about a fifth of the company to the investment firm at its proposed discounted price, according to the Journal. By itself, SoftBank will likely only acquire enough shares to gain a 15% stake in the company; its partners will likely purchase the remaining 5% stake on offer, the Journal reported.

The deal is somewhat in flux. Employees could choose not to sell before SoftBank's offer expires at noon Pacific Time on Thursday.

With Uber's initial public offering not expected to come before 2019 and the company having just experienced a rocky 2017 with massive ongoing losses, many early Uber investors have appeared eager to cash in some of their shares in what has become the world's most valuable privately held tech startup. However some Uber investors were concerned the price SoftBank was offering was too low, according to Recode.

The Uber deal would mark the latest massive investment by SoftBank's $93 billion Vision Fund.

SoftBank's investment will spur Uber to overhaul its corporate governance, according to previous reports. How the company is run became a hot-button issue this year, which saw a seemingly never ending string of crises at the company and the resignation of cofounder and CEO Travis Kalanick. It's not immediately clear when those reforms will be put in place.

SEE ALSO: 'The most important Apple executive you've never heard of' is now also Apple's 2nd-best paid

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NOW WATCH: Uber created a fake 'city' to test out its self-driving cars

28 Dec 18:26

'Heed these words of warning:' Ethereum founder threatens to leave if the crypto community doesn't grow up

by Frank Chaparro

vitalik buterin ethereum

  • Ethereum's founder is fed up with the immaturity of the cryptocurrency community. 
  • He threatened on Twitter Wednesday that he would leave if folks in the space don't get their act together. 


Vitalik Buterin, the founder of Ethereum, thinks crypto is heading in the wrong direction. 

The 23-year-old took to Twitter on Wednesday to lament the immaturity of communities across the cryptocurrency market. He said folks in the space should understand the difference between enacting positive change for society, and just moving a bunch of money around. Here's Buterin:

Screen Shot 2017 12 28 at 10.03.27 AM

Energies are being squandered on memeing about luxury cars and inappropriate jokes, according to Buterin. And if things don't change he warned he would leave the space altogether. 

Screen Shot 2017 12 28 at 10.12.14 AM

The market for digital coins has exploded this year, with bitcoin and ethereum leading the way. Ethereum is up more than 8,500% since the beginning of the year. Also, ethereum paved the way for hundreds of initial coin offerings, a cryptocurrency twist on the initial public offering process. Autonomous NEXT, a fintech analytics firms, estimates over $4 billion has been raised via ICOs, which help startups raise capital outside traditional financial services. In total, the market for digital coins has exploded from just under $18 billion at the start of the year to a whopping $560 billion at last check, according to data from CoinMarketCap.com

Still, Buterin has questioned whether such gains are grounded in reality. Here's Buterin in a tweet soon after the crypto market surpassed $500 billion for the first time:

Screen Shot 2017 12 28 at 10.51.06 AM

He went on:

Screen Shot 2017 12 28 at 10.45.14 AM

SEE ALSO: A partner at one of the top bitcoin trading firms told us why crypto is 'such an amazingly fun space to be in'

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NOW WATCH: The 5 issues to consider before trading bitcoin futures

28 Dec 18:22

The TSA is now waiting until 2020 before it forces some Americans to use a passport to fly domestically

by David Slotnick

airport security TSA line

  • ID requirements for air travel were set to change in January 2018. 
  • Nine states' IDs were not in compliance with the Real ID Act requirements, which meant that travelers from those states would be required to use their passport to fly domestically.
  • The TSA told Business Insider Thursday that those requirements have now been postponed until October 1, 2020.


If you've flown at all in the past year or so, you've probably noticed conspicuous signs at every security checkpoint warning that "ID requirements are changing." According to the signs, beginning January 22, 2018, driver's licenses from nine states will no longer be considered "valid" identification for air travel starting early in 2018.

But on Thursday the TSA confirmed to Business Insider that the new requirements are being postponed until October 1, 2020. That means that drivers licenses from the nine states — Kentucky, Maine, Minnesota, Missouri, Montana, Oklahoma, Pennsylvania, South Carolina, and Washington — will remain valid for air travel for the next few years.

The new ID requirements are detailed by the REAL ID Act. Among other things, the 2005 law outlines new federal requirements that must be met in order for state-issued IDs to be considered valid for federal purposes, such as entering secure federal buildings or traveling by air. 

TSA ID Requirements

In particular, the requirements pertain to what information states collect before issuing identification.

For a driver's license to be REAL ID-compliant, a state must require applicants to present either a photo ID or an ID which includes a full name and birth date, proof of birth date (generally a birth certificate), proof of resident status and social security number, and proof of address.

REAL IDs are also required to have the holder's signature, gender, a unique identifying number, and certain anti-tampering or counterfeiting measures.

A TSA spokesman told Business Insider the reason that the new requirements will not be put into effect next month is that the nine states which were going to become non compliant have all been granted extensions.

Implementation of the law for air travel has been postponed a few times previously as individual states have filed for extensions as they build the infrastructure necessary to meet the requirements of the law. The latest postponement gives states more time to change their ID-issuing process. Some states, like Massachusetts, have outlined plans to begin issuing REAL ID-compliant licenses.

While a TSA webpage still shows January 2018 as the deadline; the TSA spokesman confirmed to Business Insider that drivers licenses from the nine listed states will continue to be valid for air travel until October 2020. 

SEE ALSO: RANKED: The 10 best economy-class airlines in the world

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NOW WATCH: Cryptocurrency is the next step in the digitization of everything — 'It’s sort of inevitable'

27 Dec 19:58

What You May Have Missed in UC This Year

by Dave Michels
By Dave Michels
An insider's take on how events unfolded...
27 Dec 16:05

The Verge 2017 tech report cards

by Natt Garun

2017 has been a tough year for most people, and tech companies were not spared. Most companies found themselves grappling with moral, cultural, and political responsibilities, such as fighting the spread of fake news and advertisements and correcting toxic corporate cultures. Others found runaway success with a viral release of a much needed, innovative product. So, how did giants like Facebook, Google, Nintendo, Uber, Tesla, Samsung, Apple, Microsoft, and more do compared to last year? Find out as we take a look back in our 2017 tech report cards, compiled by The Verge staff.

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22 Dec 17:24

Amazon just bought Blink, a startup that makes wireless security cameras (AMZN)

by Avery Hartmans

Blink camera

  • Amazon has acquired Blink, a startup that makes wireless security cameras.
  • Terms of the deal haven't been disclosed, but Blink will continue to operate under Amazon's umbrella.


Amazon is getting into the home-security game with its latest acquisition. 

The ecommerce giant has acquired Blink, a startup that makes wireless home-security cameras. 

Blink announced the news on its website, but terms of the deal haven't been disclosed. 

Customers who already own a Blink system won't see any change, the company wrote. Instead, Blink will continue to make and sell its cameras under the Amazon umbrella. 

Amazon's push into the home security space may have something to do with one of its chief rivals in the smart-home space, Google. Nest, which is owned by Google's parent company Alphabet, makes both indoor and outdoor security cameras, though they cost about twice as much as Blink's $99 system. 

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21 Dec 21:06

Comcast is giving its employees $1,000 bonuses because net neutrality is dead

by Nick Statt

Comcast today announced that it would be doling out $1,000 employee bonuses in response to the Federal Communications Commission’s repeal of net neutrality rules last week, as well as the Senate and House’s passing of Republicans’ tax reform bill poised to provide a substantial windfall to wealthy Americans and corporations. Comcast has long been an opponent to Title II classification, which gave the FCC the authority to regulate telecommunications companies and ISPs like utilities. The company sought to kill those consumer protections under the guise they harmed investment, and it celebrated the FCC’s actions last week.

Following the net neutrality repeal, Comcast was unwilling to say it would never block or throttle content or offer...

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21 Dec 21:04

LG announces '5K ultrawide' HDR monitor

by Sam Byford

LG has just announced some impressive-sounding monitors that it’ll be bringing to CES in a couple of weeks. First up is the 32UK950, a 32-inch 4K monitor with HDR support, Thunderbolt 3 connectivity, 98-percent P3 color gamut coverage, and similar Nano IPS technology to LG’s LED TVs. LG isn’t going into details about supported HDR formats, however. The press release mentions “HDR600,” which could just be the company’s own term for a monitor with 600 nits peak brightness, but may refer to the new DisplayHDR certification that does include a “DisplayHDR 600” tier.

If 16:9 isn’t wide enough for you, LG is also announcing the ridiculous sounding 34WK95U, a “5K ultrawide” version of the 32UK950. That resolution needs explaining a bit — it’s...

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21 Dec 21:04

Windows 10’s face authentication defeated with a picture

by Tom Warren

Windows Hello, a new face scanning security feature in Windows 10, has been defeated with the use of a printed out picture. ZDNet reports that security researchers from German firm SYSS have defeated Windows Hello on Windows 10 machines running older versions of the operating system. Multiple versions of Windows 10 are affected, and a number of different hardware.

SYSS tested Microsoft’s own Surface Pro 4 device running last year’s Windows 10 Anniversary Update, and found it was vulnerable. Even Microsoft’s anti-spoofing feature of Windows Hello didn’t help protect systems running older versions of Windows 10. SYSS found that if the anti-spoofing feature is disabled on the Creators Update (released earlier this year) or Fall Creators...

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21 Dec 21:03

This burger chain recognizes your face to place an order

by Thuy Ong

A California burger company called CaliBurger has introduced AI-enabled Kiosks to its stores, as spotted by Business Insider. The kiosk can identify a customer, pulling up their loyalty account and order preferences after they look into the camera. As a customer approaches the kiosk, they’ll be given the option to access their account without entering any details or swiping a card. The loyalty account remembers what they’ve ordered in the past and allows customers to place orders in seconds, the company claims.

It’s a pilot program at the moment and is being trialed at CaliBurger’s Pasadena store. If successful, it’ll be rolled out to more locations next year. "Our goal for 2018 is to replace credit card swipes with face-based payments....

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21 Dec 17:37

Check out LG’s gorgeous new 5K ultrawide monitor

by Avery Hartmans

LG 34 inch UltraWide monitor

  • LG unveiled two new 32-inch and 34-inch monitors on Thursday.
  • The 34-inch ultrawide model will have a "5K resolution" and a nearly borderless display.
  • Both monitors will be introduced at the Consumer Electronics Show in January.


LG on Thursday added two new monitors to its lineup — including a 34-inch, "5K ultrawide" option. 

LG introduced the 32-inch 32UK950 and the 34-inch 34WK95U models, both of which are set to be unveiled at the Consumer Electronics Show (CES) in January. LG didn't say yet how much the monitors are expected to cost.

LG said the 32-inch monitor will have brighter, more intense colors, the ability to set up dual 4K monitors, and Thunderbolt 3 connectivity, which means it can connect to devices like a MacBook Pro with a single cable. 

The larger 34-inch monitor has a 21:9 aspect ratio and what LG calls a "5K resolution." But as The Verge's Sam Byford points out, the monitor has the same vertical resolution as LG's 4K monitors at 5120 x 2160, meaning it's closer to a 4K ultrawide monitor. That said, it's still expected to be quite impressive.

Here's another look at it:

LG 34 inch UltraWide monitor

LG says the 34-inch monitor will also have excellent color reproduction capabilities, Thunderbolt 3 connectivity, and a near-borderless display. 

SEE ALSO: The 9 best affordable smartphones you can buy

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20 Dec 20:03

AT&T is handing out more than $200 million in special bonuses because of the GOP tax cut (T)

by Jonathan Garber

att ceo randall stephenson

  • AT&T says it will pay a $1,000 bonus to more than 200,000 US employees after the Republican tax bill is enacted.
  • The bill cuts corporate tax rates to 21% from 35%.
  • Meanwhile, AT&T has feuded with the Trump administration over its bid to acquire Time Warner, and the Department of Justice has sued to block the deal.


AT&T says it will pay a $1,000 bonus to more than 200,000 US employees after the GOP tax bill is enacted — an announcement sure to please Republican lawmakers who have been pitching corporate tax cuts as a boost for American workers.

The bill, which Congress passed this week, reduces the corporate tax rate to 21% from 35% while allowing a one-time repatriation of overseas cash. Companies are mostly expected to buy back stock or pay down debt with their savings.

Still, AT&T was quick to announce its plan after the House voted to pass the bill on Wednesday.

"Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T US employees — all union-represented, non-management and front-line managers," the company said in a press release. "If the president signs the bill before Christmas, employees will receive the bonus over the holidays."

At an event at the White House on Wednesday afternoon, President Donald Trump called AT&T's plan "pretty good."

Last month, Stephenson blasted the Department of Justice over its plans to sue to block his company's $84.5 billion takeover of Time Warner. At the time, Stephenson called the lawsuit "unprecedented" and said it "defies logic."

Throughout his presidential campaign, Trump blasted the AT&T-Time Warner merger, saying, "Deals like this destroy democracy." More recently, the president said he "always felt that was a deal that's not good for the country."

Shares of AT&T were up 1.16% on Wednesday, to $38.49. Time Warner was up about 0.5%.

AT&T isn't alone in touting its plans to spend a portion of its windfall on workers — Boeing and Fifth-Third Bank have also released plans. Boeing announced what it described as a $300 million "employee-related and charitable investment" stemming from the tax bill, while Fifth Third said it would raise its minimum wage to $15 an hour and distribute a one-time bonus of $1,000 for more than 13,500 employees. 

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20 Dec 19:21

Congress has just days to extend, reform, or repeal FISA — the controversial law that lets the US government track calls and emails

by Brennan Weiss

spying

  • A controversial surveillance law is set to expire at the end of the month.
  • But Congress is still bitterly divided over whether to reauthorize it, reform it, or completely repeal it.
  • FISA Section 702, which allows the US government to conduct warrantless communications collections, was born out of the post-9/11 surveillance era.


Congress has just days to extend, reform, or repeal Section 702 of the Foreign Intelligence Surveillance Act (FISA), a highly controversial surveillance law that allows the US government to track and collect the communications of foreigners overseas without a warrant, even if Americans' communications are incidentally picked up along the way.

Lawmakers have until they leave for the holiday break on Friday to reauthorize Section 702 before it expires on December 31, but they're still divided over how to address it.

While US officials say it's integral to national security, citing its use in disrupting a terrorist plot to blow up the New York City subway system in 2009, privacy rights advocates worry the law oversteps its bounds and infringes on Americans' Fourth amendment rights.

For example, when foreigners subject to US surveillance are in contact with people in the US, the government can incidentally pick up the communications of those Americans through what is called "backdoor" collection.

Edward Snowden's leaks of classified NSA documents in 2013 revealed widespread abuse of this kind of collection. The leaks showed that the government had been using the 702 provision to sweep up vast amounts of Americans' data directly from the servers of major Internet companies like Microsoft, Google, and Facebook through the legal authority of a surveillance program called PRISM.

The Electronic Frontier Foundation, a privacy rights group, argues on its website that the Snowden revelations show that "the fact that Section 702 surveillance regularly results in the collection and search of innocent Americans' communications is an intended and inherent part of the system."

But the US government defends its use of Section 702 and maintains that it does not target Americans or any other people located inside the country.

More than four years since Snowden's leaks, the debate over the government's spying authority rages on.

Here's how we got here and what lawmakers are doing about it:

SEE ALSO: Intelligence Chief: Here's What PRISM Is

DON'T MISS: Federal agents can search your phone at the US border — here's how to protect your personal information

2001: USA Patriot Act

A month after 9/11, Congress passed the USA Patriot Act, which, among a number of measures, improved information-sharing among federal agencies, beefed up border security, and expanded the FBI's authority to search phone, email, and financial records without a warrant for national security purposes.

Many aspects of the law have since expired or been amended, but the landmark bill was only the beginning in the ongoing debate over the government's spying powers.

 

 

 

 



2008: Section 702 becomes law

Congress established FISA Section 702 in 2008 when amended the Foreign Intelligence Surveillance Act of 1978. This was the provision Snowden leaked the info about.

A year earlier, former President George W. Bush signed the Protect America Act of 2007, which removed the requirement for the government to have to get warrants to track foreigners. This provision was reauthorized with the 2008 FISA amendments and became the crux of Section 702.

Congress renewed the measure in 2012.

 



2013: The Snowden leaks

In 2013, Edward Snowden, a disillusioned NSA contractor, leaked an estimated 1.7 million classified intelligence files, covering a wide range of secret government surveillance tactics and programs.

The files revealed that Section 702 was being used to justify the PRISM program, which allowed the government to collect communications from tech companies through fiber-optic cables to then feed into a main database.

 



See the rest of the story at Business Insider
20 Dec 19:20

Right On Cue, Marsha Blackburn Introduces A Fake Net Neutrality Bill To Make The FCC's Idiotic Decision Permanent

by Karl Bode

As we just got done saying, giant ISPs are well aware that last week's unpopular FCC vote to repeal net neutrality rests on very shaky legal ground. The agency will be facing all manner of lawsuits in the new year from competitors and consumer groups that quite correctly highlight the blatant fraud and bizarre missteps that occurred during the proceeding. Those lawsuits will also argue that the FCC is violating the Administrative Procedure Act by passing a law without proving that the broadband market had changed enough in just two years to warrant such a severe, unpopular reversal (tip: it didn't).

As such, ISPs are already pushing hard to codify the FCC's idiotic and unpopular repeal into law. ISPs like Comcast are claiming they're just so interested in protecting the open internet (after spending millions to dismantle real net neutrality rules) that a law their lobbyists likely wrote is the only path forward now. But these bills have one purpose: to prevent any future FCCs or Congressional lawmakers from passing meaningful rules down the road.

Enter Tennessee Representative Marsha Blackburn, who has for years been a glorified rubber stamp for AT&T and Comcast, going so far as to support state-level laws that hamstring competition and erode local rights. Today Blackburn unveiled the "Open Internet Preservation Act" (pdf), which, as we predicted, bans things like outright throttling, but ignores numerous other possible avenues of abuse by ISPs, including zero rating, paid prioritzation, and interconnection shenanigans. The bill also tries to ban states from trying to protect net neutrality in the wake of federal apathy, another gem ISPs like Comcast have been coincidentally lobbying for the last few months.

Blackburn made sure to leak first looks at her bill to news outlets she knew would be sure to parrot any number of net neutrality falsehoods that were debunked years ago:

"Rep. Blackburn told Breitbart News why she decided to unveil her legislation to codify the laws of a free and open Internet. She said, “When you talk to innovators in the online space, one of the things that is frustrating to them is that the rules of the internet continue to change over the last few years. What we want to do is codify the rules of an open internet."

“What we saw with the Wheeler order in 2015 was really control of the Internet. We are going to put rules in place that will stop the ping-ponging depending on who’s in charge of the FCC. This is an issue that should be decided by Congress,” Blackburn added.

Of course Blackburn would have you ignore the fact that her rhetoric almost exactly mirrors a blog post Comcast posted just a few days ago, or the fact that her bill was likely written by Comcast and AT&T lawyers and lobbyists. She'd also have you ignore that the "innovators" she pays lip service to strongly oppose the repeal of the current rules, as nearly 1000 startups made very clear back in April. Blackburn also took to Twitter to regurgitate numerous debunked industry canards, like the entirely bogus claim that net neutrality rules hurt sector investment:

Again, these folks couldn't give less of a damn about "protecting the open internet." They're solely looking out for the interests of AT&T, Verizon, Comcast and Charter. And what these ISPs want (and are in the process of getting) is a complete dismantling of both federal and state oversight of telecom duopolies so they can continue abusing the lack of competition in the sector for the foreseeable future. They know the FCC's repeal is in jeopardy of being overturned by the courts, so they're trying to rush through shitty legislation that effectively makes violating net neutrality legal.

It's likely this will be the first of several bills of this type, and the inclination on some fronts will be to suggest that "a bad bill is better than no protections at all." But that's a naive interpretation of what ISPs are attempting here. As we just noted, any ISP-supported net neutrality legislation will ban things ISPs never intended to do (like outright blocking of Netflix), but won't cover any of the more nuanced areas where net neutrality violations are now occurring (usage caps, zero rating, interconnection). Why rush to support a bill that simply acts to make most violations legal?

A better solution is to find away to keep the current rules intact. It's unlikely, but that could occur via use of the Congressional Review Act. Much more likely is the repeal being overturned by the courts, thanks to the FCC's apathy toward fraud and the public interest. Even if ISPs win in the courts, net neutrality fans are better off riding the looming backlash and using it to drive ISP-loyal sycophants out of public office at the polls, then attempting a real net neutrality law later -- when Congress is a little less mindlessly loyal to the desires of some of the least-liked, least-competitive companies in America.



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20 Dec 16:29

Airline seats have shrunk as much as 4 inches over the years

by Rob Ludacer

If you've taken a flight in coach anytime in the last 20 years, you may have noticed the seat in front of you creeping closer and closer to your knees. No, you're not growing.

Yes, the airlines have been squishing seats closer together. It's called the pitch, and it's been chopped down by two to three inches over the years.

That's not the only place where the big three are sneaking space from you. Here's a helpful representation of just how much room your ticket gets you on your next flight. The following is a transcript of the video.

How airline seats have shrunk over the years. Feeling cramped? You're not alone. Airlines are adding more seats, leaving less room for individual passengers. The pitch, or distance between seats, has shrunk. The minimum pitch has gone from 31"/32" to 30".

It's not just the pitch. Seat width has also been narrowed over the years. Each airline has lost about 2 inches in seat width. These aren't even the smallest. Some airlines fill the Airbus A330 with 16.7" seats. For comparison, the average first class seat is 21" wide.

One small study compared sleep quality in 17" vs. 18" wide seats. 2/3 of passengers who slept in the 18" seats reported better quality sleep. Plus, passengers fell asleep faster and had fewer twitches in the 18" seats. So if you plan on catching some Zzz's on your flight, dish out the cash for a seat upgrade.

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20 Dec 16:28

MoviePass boasts it reached 1 million paid subscribers faster than Netflix and Hulu (HMNY)

by Jason Guerrasio

Moviepass

  • Movie theater subscription service MoviePass said it's passed one million paid subscribers.
  • The company said it hit the milestone faster than Netflix and Hulu.


The movie theater subscription service MoviePass has hit a major milestone. 

The company announced on Wednesday that its surpassed one million paid subscribers. In August, the company changed to a $9.95 per month pricing model, and according to the company, its subscription base since then has increased over 6,500%.

MoviePass boasts that after shifting its price on August 15, the company reached one million subscribers in less time than paid subscription services Spotify, Hulu, and Netflix.

MoviePass has disrupted the movie theater business since it dropped its price. Shortly after the news, AMC attempted to try and block the use of the service in its theaters, though that would be impossible unless the theater chain stopped accepting MasterCard, which is the credit card service MoviePass uses.

Earlier this month, Cinemark introduced an $8.99 monthly membership program for its customers that offers one ticket per month to a non-3D movie anytime, 20% discount on concessions, and the option to buy additional tickets at $8.99.  

SEE ALSO: The 10 highest-grossing movies of 2017 that ruled the box office

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20 Dec 16:28

This burger chain wants to replace cashiers with machines that analyze your face and know your order

by Kate Taylor

CaliBurger

  • A burger chain has created a machine that uses facial-recognition technology to remember customers' past orders.
  • Customers can order at CaliBurger simply by smiling at a kiosk. 
  • The high-tech chain has already started using robots to flip burgers in its kitchens. 

 

A burger chain that uses robots to flip burgers is replacing cashiers with machines that know your order by analyzing your face. 

CaliBurger

CaliBurger, a burger chain with more than 40 locations globally, is now allowing customers to order using a kiosk that automatically recognizes the faces of certain loyal customers. The burger chain and the NEC Corporation of America, which made the machines' artificial intelligence technology, unveiled the self-ordering kiosks on Tuesday. 

Customers use the new kiosk by creating an loyalty account with CaliBurger, linking their faces to past orders. Then, when they return to the burger chain, they simply need to look into the machine's camera — and their orders will automatically pop up.

Currently, CaliBurger is testing the kiosk at a single location in Pasadena, California. If all goes well, the chain plans to roll out the self-ordering, face-recognizing kiosk at all locations in 2018. 

"Our goal for 2018 is to replace credit card swipes with face-based payments," Cali Group CEP John Miller said in a statement. "Facial recognition is part of our broader strategy to enable the restaurant and retail industries to provide the same kinds of benefits and conveniences in the built world that customers experience with retailers like Amazon in the digital world." 

CaliBurger has made waves with its focus on using robots for jobs typically reserved for humans. The chain uses an robot to flip burgers in the kitchen and is developing infrastructure to replace food deliverers with autonomous vehicles. 

Here's the CaliBurger's face-recognizing, self-ordering robot in action: 

SEE ALSO: CaliBurger plans on using these burger-flipping robots

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