As a new week dawns, we present a view of the future:
Apple adds satellite connectivity to iPhone
| The Apple iPhone 14 event at Apple Park campus in Cupertino, California. Bloomberg |
In brief | No Wi-Fi? No problem. Handy for hikers lost in the bush, the new iPhone front-loads a few vital questions to assess the user’s situation, and shows them where to point their phone to connect to a satellite. The messages are then relayed to centres staffed by Apple‑trained specialists, who call for help.
Meanwhile, Crash Detection on the iPhone means the device can detect a severe car crash and automatically dial emergency services when a user is unconscious or unable to reach their iPhone. The phones really are taking over.
Quoted | “We’ve had some promising conversations with Apple about Starlink connectivity. iPhone team is obv super smart. For sure, closing link from space to phone will work best if phone software & hardware adapt to space-based signals vs Starlink purely emulating cell tower."
- Elon Musk, SpaceX founder (tweeting)
Why it matters | While the satellite connectivity and crash detection won't be enough for consumers to prioritise iPhone 14, anything that saves lives is a welcome addition. It will be interesting to see if Apple reveals the number of satellite connections made in the course of a year, or the number of crash detection calls made.
And also whether people start to take risks that they wouldn't have previously taken in the knowledge that they can SOS with or without internet connection.
| A transparent, membrane-like outer layer encases a vegetation-filled interior. Photo: OBMI |
Internal forest | Dubai is already home to spectacular buildings, but how about a vertical resort filled with vegetation? International architecture firm OBMI has come up with a concept named Aera, which aims to recreate the feel of a private island in the midst of urban centres such as Dubai.
Tech transformation | Plans for the Dubai Urban Tech District were unveiled this week, with 4,000 jobs in green urban technology, education and training set to be created. The district will be able to host conferences, seminars, business incubation programmes and training and research sessions, and will be in the Al Jaddaf area.
Charging up | The electric car movement is gathering pace in the UAE, with Kizad signing a lease agreement with green mobility technology company NWTN to establish an assembly plant in Abu Dhabi. Capacity is eventually planned to reach 50,000 units annually.
Predicting the future | Signal or noise? The term "dynamic pricing" has created a buzz in Dubai this week after the toll operator Salik revealed plans as part of its future growth strategy. It is where pricing varies based on demand with real-time data on traffic conditions leading to adjustments in rates.
This is signal. Dubai is expecting its population to double in the next 20 years and this pricing method, being used in a number of other areas of the world, can help to alleviate congestion and encourage public transport use.
In Case You Missed It
| Avatars from Clinique's 'Metaverse More Like Us' campaign. Photo: Clinique |
The beauty industry has moved into the metaverse. Think virtual try-ons, skincare diagnosis and an avatar that needs dressing. The likes of Charlotte Tilbury, Clinique and L’Oreal are heavily involved.
Nasa's Artemis Moon rocket launch was delayed again after engineers detected a fuel leak. The next launch windows are September 19 to October 4 and then October 17 to 31, Nasa said
Actor Bill Murray had his crypto wallet hacked following an NFT charity auction which raised 119.2 ether (about $185,000). The hacker also tried to take NFTs from Mr Murray's collection.
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| | Emerson Collective Backing New Project to Encourage Civil Online Conversation | By Jessica E. Lessin and Nick Wingfield | Laurene Powell Jobs’s Emerson Collective is backing a new effort to encourage more civil conversation online, according to people familiar with the project. The project—which is in its early days—is being led by Nick Thompson, CEO of The Atlantic, and Raffi Krikorian, Emerson’s chief technology officer. The duo recently hired Wired’s executive editor for news, Brian Barrett, and are looking to hire two more engineers. Barrett’s departure from Wired was announced at an all-hands meeting of the magazine’s staff earlier this week. Thompson is remaining in his current role at The Atlantic, according to one of the people familiar with the project. Those people stressed that the group isn’t trying to launch a social networking site. | |
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 | | | ‘I’m Not Going to Wade Into That One’: Nasdaq’s CEO on the Downturn, Crypto and ‘Super Apps’ | By Jessica E. Lessin | 2022 has been a brutal year for the markets. But what about the markets business? With initial public offerings slumping to the lowest levels since 2009, I sat down with a woman who sees it all very up close—Nasdaq CEO Adena Friedman. Friedman runs one of the world’s most important public markets, and she is also a software CEO, overseeing a software business that powers more than 100 exchanges around the world—one of which she tells me will soon be fully in the cloud. Only a quarter of the firm’s $3.5 billion in net revenue last year came from trading. We covered a lot of ground in the interview, from where Nasdaq sees opportunity around crypto to the state of the IPO markets. Edited excerpts are below. |
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PRESENTED BY 
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Ireland's data privacy regulator has fined Instagram ~$402M for allegedly failing to better protect young people's data. A two-year investigation found that Instagram mishandled the personal information of children aged 13-17, violating the European Union's General Data Protection Regulation. It's the second-largest penalty issued under the EU data privacy rules. More: - The investigation examined how young people who switched to business accounts had their contact information, including phone numbers and email addresses, made publicly available.
- The switch enabled users to view more stats, such as like counts, after Instagram deleted that feature from personal accounts in certain counties.
- Ireland’s Data Protection Commission, which issued the fine, is in charge of the EU's privacy enforcement for tech companies with their European HQs in Ireland.
- This includes Meta, the parent company of Instagram. Meta said it disagrees with how the fine was calculated and intends to appeal it.
- Full details of the decision are due out next week.
Zoom-out: - The Irish regulator fined Meta 17 million euro ($18.7M) in March over data breach notifications on Facebook.
- WhatsApp, also owned by Meta, was fined 225 million euro ($266M) last year for privacy law violations of EU data rules.
THE WALL STREET JOURNAL 
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About 4,000 food-service employees working for Google have unionized since the start of the pandemic, according to The Washington Post. Google staffs many of its on-site cafeterias with contract employees, who have been seeking higher wages and benefits in recent months. More: - According to the Post, roughly 90% of food service workers at Google are now represented by a union.
- Food service workers at Google’s Atlanta office recently told contracting firm Sodexo that they plan to unionize.
- Sodexo said it would not halt the effort if the majority of employees support a union.
- Of the unionized cafeteria employees, the average worker earns $24 an hour compared to $15 an hour for Sodexo Atlanta workers.
- Google has about 174,000 full-time employees versus 100,000+ contractors.
Zoom-out: - More than 650 Google employees recently signed a petition seeking abortion benefits for company contractors.
- Google allows "relocation without justification" at its nearly 30 locations across the U.S., including in states where abortion is illegal.
- However, the relocations are not available for Google's temporary, vendor, and contract workers. The petition seeks the same benefits for abortion and healthcare services as non-contract employees.
THE WASHINGTON POST
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 A MESSAGE FROM SECURITY COMPASS This is your show developers! Come and interact with our panel through questions or advice on how we can all improve developer-centric threat modeling. What to expect: Earlier this year, Security Compass ran a survey that probed the mind of developers. During this webinar, we'll be discussing our findings with security experts who live in the developer and threat modeling space. What you will learn: - The connection between developer user stories or requirements, coding, and threat modeling.
- How to keep up with the ongoing discovery of software weaknesses.
- Practical advice for developers is to stay current on threat modeling practices.
When: September 14, 2022, at 11am EST Whether you are a developer, lead, architect, or thread modeler, this webinar will leave you with something to think about. REGISTER HERE
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Apple will livestream its "Far Out" event starting at 10 a.m. PT Wednesday, when it's expected to reveal its new iPhone 14 lineup. The event's invitation features stars forming the Apple logo in the night sky, leading to rumors that it could unveil phone camera upgrades for improved nighttime and/or long-distance photos. More: - At the event, Apple is expected to unveil the iPhone 14, the iPhone 14 Plus, as well as the higher-end iPhone 14 Pro and iPhone 14 Pro Max.
- Analysts believe Apple will raise prices on its Pro models by $100 over the iPhone 13 Pro.
- The Pro and Pro Max allegedly feature a pill-shaped cutout to replace the phone's notch, first introduced in 2017.
- It's likely that Apple will discontinue the "mini" iPhone model with a 4.7-inch screen.
- In addition, the company is expected to launch new Apple Watches and a new version of the AirPods Pro.
- The event will likely have appearances by CEO Tim Cook, marketing SVP Greg Joswiak, and software head Craig Federighi.
- It's unlikely that Apple will debut its rumored augmented reality headset on Wednesday. Analysts believe the company won't release new Macs or iPads until October, at the earliest.
THE VERGE
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The Biden administration on Tuesday disclosed how it plans to allocate $50B to boost U.S. semiconductor manufacturing and research. The investment stems from the CHIPS and Science Act signed into law by President Biden last month. More: - The Commerce Department said $28B of the CHIPS for America Fund is set aside to ramp up the production of logic and memory chips using advanced processes.
- About $10B is dedicated to building older chips for autos, medical devices, defense, and communications technologies.
- Another $11B is earmarked for semiconductor R&D.
- The Commerce Department will open up applications for the loans and grants in February and could begin dispersing them in the spring.
Zoom-out: - The new law allows for $52.7B in subsidies for U.S. semiconductor companies, as well as a four-year 25% tax credit, worth around $24B, to encourage them to build plants in the U.S.
- It authorizes another $200B over the next decade to spend on U.S. science research to stay competitive with China.
THE U.S. COMMERCE DEPARTMENT
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CVS Health has finalized a deal to acquire tech-focused home health services provider Signify Health for about $8B. Doctors use iPads equipped with Signify's analytics and technology platform to assess patient needs and assign follow-up services during in-home visits. More: - CVS announced plans to pay $30.50 a share in cash for Signify.
- The sale also drew bids from Amazon, UnitedHealth Group, and Option Care Health.
- With the purchase, CVS gains access to home-based clinical care and Signify's 10,000+ clinicians in the U.S.
- According to Signify CEO Kyle Armbrester, its clinicians operate similar to Uber drivers, offering a flexible model in the gig economy.
- CVS has previously acquired pharmacy benefits manager Caremark for $27B in 2007 and insurance provider Aetna for $69B in 2018. It's reportedly seeking a buyer for its benefit tech business, BSwift.
FIERCE HEALTHCARE
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Sony's Masayasu Ito, who led the development of the Playstation 4 and Playstation 5, is retiring after 36 years. The EVP of hardware engineering and operation started out in Sony's in-car audio division before transferring to its console unit in 2000. More: - Ito oversaw hardware development for the PS4, PS4 Pro, and PS5, and led the design of the handheld PlayStation Portable and its virtual-reality headset.
- He has been the public face of Playstation through many interviews and appearances over the years.
- In 2020, Ito appeared in a popular teardown video for the PS5 ahead of its debut that November, describing a "generational leap in terms of performance."
- Ito is also the representative director of Sony Interactive Entertainment (SIE). His replacement will be SIE director and deputy president, Lin Tao. Ito will stay on as an executive adviser for SIE’s Platform Experience Group until March 2023.
BLOOMBERG
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QUICK HITS - Origin Investments’ IncomePlus Fund has seen its 27th consecutive month of positive returns, generating 18.7% over the past 12 months.*
- Google has sent out invitations for its Oct. 6 event, when it's expected to launch new Pixel 7 phones and the Pixel Watch.
- TikTok has denied being hacked after last week's data leak reports. It claims that neither the source code nor customer data that was published in forums belong to the company.
- The White House announced the recipients of a $1B economic development competition for projects in areas like clean energy and technology.
- Honda Motor Co. partnered with trading firm Hanwa Co. to secure supplies of nickel, cobalt, and lithium for its EV batteries in the medium- to long-term.
- Encrypted messaging app Signal has hired ex-Google manager Meredith Whittaker as its president. Whittaker, a tech researcher, helped organize the 2018 mass walkout at Google.
*This is a sponsored post.
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Upcoming Events: - September 07 - AMA with Andrew Gazdecki (Founder of MicroAcquire) (Register Here)
- September 09 - AMA with Jay Ryan (U.S. Federal Government Program Manager at Security Compass) (Register Here)
- September 14 - What Do Developers Think of Threat Modeling? (feat. security experts from Security Compass, Dell, and Tricentis) (Register Here) *
- September 14 - AMA with Brian Dean (Founder of Backlinko) (Register Here)
- September 21 - AMA with Kristen Ruby (Founder of Ruby Media Group) (Register Here)
- September 28 - AMA with Leigh-Ann Buchanan (Founder of aīre ventures) (Register Here)
- October 05 - AMA with Ram Bartov (Chief Accounting Officer at TripActions)* (Register Here)
- October 12 - AMA with Bill Glenn (Executive Chairman at Crenshaw Associates) (Register Here)
- October 19 - AMA with Zecca Lehn (Responsibly VC) (Register Here)
- October
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Hours before reminiscing about Steve Jobs at a tech conference on Wednesday evening, Apple CEO Tim Cook presided over a decidedly un-Jobs-ian unveiling of an updated iPhone.
The 14th version of Apple’s signature smartphone, set to arrive in mid-September through early October, doesn’t feature any of the monumental leaps in which Jobs delighted.
Sure, there are several notable updates, including higher-performing cameras, better battery life, and a more-powerful processor on the higher-cost Pro model. But prevailing wisdom (including that of Jobs’ daughter) suggests that the perpetual update cycle and deeply ingrained buying habits, rather than excitement about technological advances, will drive tens of billions of dollars in new iPhone sales.
Instead, the iPhone 14 garnered more headlines for something which Jobs considered secondary to the product: price. Despite inflationary pressures and climbing supplier costs, Apple opted against charging more for the latest version of its smartphone in the U.S. and China, its two largest markets. (Apple hiked iPhone 14 prices in parts of Europe and Japan, where currency values have deflated in recent months, among other locations.)
While the focus on price surely wouldn’t have thrilled Jobs, it reflects the realities of Apple’s current state of operations. Under Cook, less of a tech visionary and more a businessman than Jobs, the balance of Apple’s consumer electronics attention has shifted a bit toward quantity over quality.
Some of this adjustment reflects the technological limitations of our smartphones, which feel like they’ve reached near-peak performance. The iPhone already processes at high speeds, takes remarkably clear pictures, offers copious amounts of storage, and fits beautifully in your hand. In recent years, the biggest jumps in the iPhone’s utility derived from the software, not the hardware, side of Apple’s operations.
But a sizable portion of the company’s repositioning centers on Cook’s vision for an extensive Apple ecosystem, one where consumers own several pieces of interconnected hardware (smartphone, personal computer, tablet, watch, headphones). If Apple customers get locked into multiple devices, the thinking goes, they’ll have a harder time switching to Samsung or Google products. (Wall Street and tech wonks call this a “moat.”)
The strategy not only boosts hardware sales, but gets more customers to buy into Apple’s services products—an iPhone user is more likely to download apps from the App Store, use Apple’s credit card, or subscribe to the company’s music streaming service. While Apple’s services account for 19% of total revenue, their profit margins are double that of hardware products.
These realities were clearly seen in Apple’s approach to its latest product line.
By holding steady on the iPhone’s price, Cook and company will earn another serving of loyalty from customers—not that they needed much more—and keep more of them within the Apple ecosystem. As Wedbush Securities analyst Dan Ives noted, Apple’s adoption of internally designed iPhone chips allows the company to better absorb any profit margin shrinkage.
Meanwhile, Apple can focus on other products that expand its moat. The latest iterations of the Apple Watch and AirPods, for example, included notable improvements that could bring in additional customers.
The Apple Watch Ultra marks the company’s most ambitious attempt to win over the outdoorsy crowd, which has gravitated to Garmin’s wearables. The base Apple Watch SE also got a makeover that boosts processing speed by 20% and incorporates car crash detection technology, advances that should help fend off competition from the imminently arriving Google Pixel Watch.
The newest line of AirPods Pro includes better noise-cancellation technologically and features that make the small buds easier to find, important developments in a wireless headphones market that, according to Counterpoint Research, grew 25% in 2021.
After the product launch, when Cook was on stage at the Code Conference on Wednesday evening, the CEO alluded to Steve Jobs’ dedication to product quality over quantity: “He always said Apple should make the best products, not the most.”
Cook, however, keeps trying to have it both ways. He’s mostly succeeded so far, evidenced by Apple’s record-breaking revenue of $366 billion last year and customers’ iron-clad allegiance. The Apple Watch and AirPods, two new categories of products that were introduced during Cook’s tenure, have helped Apple deepen its moat.
But another year of merely iterative iPhone updates makes the balancing act just a tad harder. At some point, Apple will need to land another technological leap that would make Jobs beam with joy. The iPhone 14 sure ain’t it.
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