Beware of Pranksters Crashing Apple iPhones Using Twitter

If you’re an Apple iPhone user who also enjoys Twitter, listen up.

Pranksters on the social media service have been sharing a character from the Indian Telugu language that causes iPhones to crash, according to Mashable. The offending users have been putting the character into their Twitter usernames and tweets and encouraging people to share them with their friends. If the character lands in a user’s Twitter feed, it will cause the social app to crash. The app will continue to crash after users try to boot it back up, ultimately stopping victims from accessing the service on their iPhones.

Last week, reports surfaced saying that a single Telugu character was enough to wreak havoc on iPhones. When the character is sent via any messaging or social networking app, the affected user’s app will crash. While it’s an obscure bug that only affects Apple’s iOS 11, it’s one that pranksters and those trying to cause harm are exploiting across the Internet. Worst of all, there’s no fix at the moment and unsuspecting victims needn’t do anything to be affected.

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Apple acknowledged the Telugu bug last week and has promised a fix. The company hasn’t yet delivered, though, and it’s impossible to say when it’ll be released.

According to Mashable, which tested the bug on Twitter, the only way for affected users to regain access to the app is to log in via Safari and block the person that shared the character. At that point, the character won’t show up in their feeds and Twitter will be accessible.

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Here's Why You Shouldn't Pay $1.10 For A Dollar Of Investment Grade Bond Assets

I’ve received questions from prospective subscribers about the types of trade alerts that we issue to the members section of the Cambridge Income Laboratory. One type of trade is CEF arbitrage, or more specifically a pairs trade, where we simultaneously identify an overvalued CEF and an undervalued CEF in the same sector. The strategy then entails selling or selling short the overvalued fund while simultaneously buying the undervalued fund.

The advantage of a CEF pairs trade is that because both the sold and bought funds are from the same sector, we aren’t making a directional bet on the performance on the underlying assets. Instead, we’re simply relying on the powerful concept of reversion of CEF premium/discount values (see Reflections On Chemist’s CEF Report Pick Performance In 2017 for how this has worked well for us in the Chemist’s monthly CEF picks).

There are two main limitations of the CEF arbitrage strategy. The first is that the magnitude of the gains are unlikely to be very large, simply because it is by nature a hedged strategy. That’s the trade-off for the strategy being relatively low risk. The second limitation is that unless you already own the overvalued CEF identified in the pairs trade, you would have to locate shares of the overvalued CEF to sell short. With some of the smaller, less liquid CEFs, this can range from expensive to downright impossible. The most optimal set-up is therefore already owning the overvalued CEF, and then locking in profits by selling the fund and then replacing it with the undervalued CEF in the same sector.

With the introductory blurb out of the way, let’s see how this has played out for one of the more recent CEF pairs trade that we identified in the members section of the Cambridge Income Laboratory.

About 4.5 months ago (see Sell This Investment Grade Income CEF Now), we noticed the premium of Western Asset Income Fund (PAI), an investment grade bond CEF, suddenly spiking up to +10.16%. The 1-year z-score was +3.6, indicating that this fund was significantly more expensive than its recent history. My comments from the initial article are reproduced below:

I was looking through the CEF database today and noticed the Western Asset Income Fund (PAI) trading at an exceptionally high z-score of +3.6.

Its current premium of +10.16% is at a 5-year high.

(Source: CEFConnect)

A 1-year z-score of +3.6 tells us that the premium/discount is trading 3.6 standard deviations above its 1-year historical value. Statistically speaking, this would be a 0.02% probability of occurrence, assuming that the distribution of values is normally distributed (which it isn’t, but the point is that such a high z-score is a rare occurrence).

The 5-year chart above showed that the fund traded at quite substantial discounts over the past 5 years, sometimes exceeding even -10%. This makes the current premium of +10.16% even more unusual than the 1-year z-score of +3.6 would indicate.

At this juncture, I wanted to look at the entire history of the CEF since inception. Perhaps the past 5 years was just an anomaly, and that the CEF has commanded a consistent premium in the past? It turns out that was not so.

Going back to inception, only during a brief period in 2009 did the fund’s premium exceed 10%. An unusually high premium for an investment grade fund might be understood during the immediate recovery period after the financial crisis…but why now? I can’t think of a fundamental reason why someone would pay $1.10 for a dollar of investment grade debt.

(Source: CEFConnect)

I then check out the premium/discount values of the peer group. Maybe investment grade bond CEFs are for some reason on a tear thus accounting for PAI’s unusual premium? Nope, that’s not it.

The premium of PAI is 3rd-highest out of the 15 CEFs in the “investment grade” category of CEFConnect. But I don’t consider PIMCO Corporate & Income Strategy Fund (PCN) and PIMCO Corporate & Income Opportunity Fund (PTY) to be traditional investment grade income CEFs, so not counting those two funds PAI has the highest premium in the peer group.

(Source: Stanford Chemist, CEFConnect)

OK, so PAI is a pretty good sell or short candidate. What did I pair my short PAI position with?

What did I pair my short PAI position with? I chose the BlackRock Credit Allocation Income Trust (BTZ). I wanted to choose a fund with a negative z-score, but rather amazingly all 15 investment grade CEFs had z-scores 0 or greater. BTZ’s z-score of +0.8 wasn’t the lowest, but its discount of -9.04% was the widest in the peer group, as you can see from the chart above.

Next, I wanted to see compare the price and NAV returns of these two investment grade bond CEFs to check if there were signs of deteriorating portfolio values in the undervalued CEF, which might cause me to consider BTZ as the long partner in this pairs trade.

The opportunity for the pairs trade comes from the fact that PAI’s price return is significantly outpacing its NAV return, whereas that is not the case with BTZ. We can see from the chart below that PAI appears to be blowing BTZ out of the paper with a +19.29% YTD return compared to only +8.94% for BTZ.

Chart

However, their YTD NAV returns are nearly identical.

Chart

No warning signs there. That leads me to the conclusion that:

In summary, if you own PAI, now would be a great time to sell!

Let’s see how the thesis played out 4.5 months later. BTZ had a total return loss of -3.88% over this time frame. That’s bad, of course, but still relatively much better than PAI’s loss of -14.1% over the same period. In other words, BTZ outperformed PAI by 10.22 percentage points in only 4.5 months, or about 27% annualized.

Did PAI’s portfolio do much worse than BTZ’s? No, and in fact the reverse was true. PAI’s net asset value [NAV] fell by -2.10% over this time period, but BTZ’s was even worse at -3.24%.

If BTZ’s portfolio did worse than PAI’s, why was its total return (much) better? My regular readers will have already guessed at the answer: premium/discount mean reversion! Over the last 4.5 months, PAI’s premium of +10.16% has sank to a discount of -4.82%, while BTZ’s discount of -9.04% has widened slightly, to -11.9%. Therefore, the majority of the outperformance of the long BTZ/short PAI pairs trade was due to the contraction of PAI’s discount.

Chart
PAI Discount or Premium to NAV data by YCharts

Summary

This article hopefully conveys our thought process in recommending a pairs trade to our members. Anyone who owned PAI and swapped to BTZ to would have profited to the tune of ~10% in only 4.5 months (~27% annualized), which is equivalent to about 2.5 years worth of distributions from PAI!

Note that I did not need to do a deep dive analysis of either PAI or BTZ to initiate this pairs trade. This was based almost entirely on premium/discount mean reversion, or as my fellow SA author Arbitrage Trader likes to say, “simple statistics”.

Taking stock of the situation today, the long BTZ/short PAI trade has to be considered to be largely completed, as PAI is now trading with a discount of -4.82% and a 1-year z-score of -1.5, indicating that is now cheaper than its historical average. Although BTZ’s z-score of -2.5 is even lower, as is its discount (-11.9%), the gap in valuation is no longer there.

Are there any current opportunities? The following table shows the 12 CEFs in the database that currently have z-scores greater or equal to +2.5. If you own ones of these funds, if might be a good idea to seek out another fund in the same category that is trading with a more attractive valuation, particularly if the fund that you own is also trading at a premium. Don’t let mean reversion catch you out!

Name Ticker Yield Discount z-score
MS Income Securities (ICB) 2.71% -1.47% 3.9
BlackRock Science and Technolo (BST) 5.32% 3.05% 3.2
Tortoise MLP Fund (NTG) 8.61% 9.26% 3.2
ClearBridge Energy MLP (CEM) 8.85% 5.53% 3.1
Gabelli Utility Trust (GUT) 8.50% 44.95% 3.1
Templeton Emerging Mkts Income (TEI) 3.79% -8.17% 3.1
Sprott Focus Trust (FUND) 4.97% -8.86% 3.0
Nuveen S&P Dynamic Overwrite (SPXX) 5.58% 9.54% 2.9
RiverNorth Opportunities Fund (RIV) 12.09% 6.83% 2.7
Deutsche High Income Oppos (DHG) 5.42% -0.60% 2.6
First Trust New Opps MLP & En (FPL) 10.52% 6.67% 2.5

Western/Claymore Infl-Lnk Opps

(WIW) 3.79% -9.71% 2.5

(Source: CEFConnect, Stanford Chemist)

We’re currently offering a limited time only free trial for the Cambridge Income Laboratory. Prices are going up on March 1, 2018, so please join us and lock in a lower rate for life by clicking on the following link: Cambridge Income Laboratory.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I am long the portfolio securities.

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Washington, D.C., Has Given the Boring Company a Permit for a Possible Hyperloop Station

Washington, D.C., has issued a permit allowing Elon Musk’s Boring Company to do preparatory and excavation work in what is now a parking lot north of the National Mall. The company says the site could become a Hyperloop station.

The permit, reported Friday by the Washington Post, was issued way back on November 29th of 2017. The permit is part of an exploratory push by the city’s Department of Transportation, which according to a spokesperson is examining the feasibility of digging a Hyperloop network under the city. The Hyperloop is an as-yet theoretical proposal to use depressurized tubes and magnet-levitated pods to move passengers at very high speeds.

A Boring Company spokesperson told the Post that “a New York Avenue location, if constructed, could become a station” in an underground transportation network. The Boring Company last year showcased the possibility of moving cars underground on mag-lev sleds, though that concept wasn’t quite a version of the Hyperloop proper.

The increasing prominence of Musk’s own Boring Company in pushing for Hyperloop construction is a notable reversal of the entrepreneur’s initial plans for the concept. When he unveiled a paper describing the idea in 2013, Musk said he wouldn’t be directly involved with building it. That led several independent startups, including Hyperloop One and Hyperloop Transportation Technologies, to take up the cause.

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But last summer, Musk started touting tentative Hyperloop partnerships between the Boring Company and governments in the Northeast U.S. A few weeks before the D.C. permit was issued, Maryland issued a permit for the Boring Company to build a 10.3-mile tunnel on a route between Baltimore and D.C.

Other Hyperloop projects have made headway in Europe and the American midwest, presenting the possibility of multiple regional Hyperloop systems operated by different companies.

The Hyperloop concept as a whole, though, has come under renewed scrutiny lately. It’s unclear how such a huge project would be paid for — selling Boring Company flamethrowers is unlikely to cover the bill. More fundamentally, urban planners have argued that the Hyperloop, which would use small pods to carry a few riders at a time, can’t scale sufficiently to really address urban transportation needs. Musk, in an unusual fit of pique, recently replied to one such criticism by calling its author an ‘idiot.’

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Can Machines Save Us From the the Machines?

Is it just me or is the cyber landscape getting more scary? Even as companies and consumers get better at playing defense, a host of new cyber threats is at our doorsteps—and it’s unclear if anyone can keep them out.

My doom-and-gloom stems from the dire predictions of Aviv Ovadya, the technologist who predicted the fake news epidemic, and now fears an “information apocalypse” as the trolls turbo-charge their efforts with AI. He points to the impending arrival of “laser phishing” in which bots will perfectly impersonate people we know by scraping publicly available images and social media data. The result could be the complete demolition of an already-crumbling distinction between fact and fiction.

Meanwhile, the phenomenon of crypto-jacking—in which hackers hijack your computer to mine digital currency—has quickly morphed from a novelty to a big league threat. Last week, for instance, hackers used browser plug-ins to install malignant mining tools on a wide range of court and government websites, which in turn caused site visitors to become part of the mining effort.

The use of browser plug-ins to launch such attacks is part of a familiar strategy by hackers—treating third parties (in this case the plug-ins) as the weakest link in the security chain, and exploiting them. Recall, for instance, how hackers didn’t attack Target’s computer systems directly, but instead wormed their way in through a third party payment provider. The browser-based attacks feel more troubling, though, because they take place right on our home computers.

All of this raises the question of how we’re supposed to defend ourselves against this next generation of threats. One option is to cross our fingers that new technologies—perhaps Microsoft’s blockchain-based ID systems—will help defeat phishing and secure our browsers. But it’s also hard, in an age when our machines have run amok, to believe more machines are the answer.

For a different approach, I suggest putting down your screen for a day and picking up How to Fix the Future. It’s a new book by Andrew Keen, a deep thinker on Silicon Valley culture, that proposes reconstructing our whole approach to the Internet by putting humans back at the center of our technology. Featuring a lot of smart observations by Betaworks founder John Borthwick, the book could help us fight off Ovadya’s information apocalypse.

Have a great weekend.

Jeff John Roberts

@jeffjohnroberts

jeff.roberts@fortune.com

Welcome to the Cyber Saturday edition of Data Sheet, Fortune’s daily tech newsletter. You may reach Robert Hackett via Twitter, Cryptocat, Jabber (see OTR fingerprint on my about.me), PGP encrypted email (see public key on my Keybase.io), Wickr, Signal, or however you (securely) prefer. Feedback welcome.

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'Black Panther' Review: All That a Superhero Movie Can Be, and More

What should a superhero movie be? What can it be? With Black Panther, we finally have an answer worthy of our time.

In the last decade alone—where the promise of progress in Hollywood read first as fantasy, then as farce—America’s cathedral of heroes offered little access to depictions that fell outside the mechanisms of the industry. Batman and Iron Man, billionaires. Thor, a Norse god. Spider-Man, a youthful prodigy. Captain America, a World War II recruit, became the literal manifestation of national courage and hope.

Black superheroes were never afforded the same deification. During the tail end of black cinema’s golden age, Wesley Snipes’ early-aughts Blade trilogy flirted with pop immortality, but even that character’s legend faded across the years. I sometimes wondered if black superheroes were ever meant to endure in the mainstream, the truth of America being what it is, or if the recurring image of black valor was too much of an irritant to the illusion Hollywood needed to project, to protect.

As you can imagine, what emerges in the opening tints of Black Panther sets the stage for no ordinary undertaking. Here, the past and present are linked by a shared future. Writer-director Ryan Coogler, raised as he was in Northern California, stays close to home, dropping us in the murk of 1992 Oakland. The occasion—death.

We are first introduced to Prince N’Jobu (played pristinely by Sterling K. Brown), a Wakandan spy who is secretly selling vibranium—the meteoric ore native to Wakanda that is the life source to the nation’s technological prosperity—to Ulysses Klaue, a rogue black market dealer. When N’Jobu’s misdeeds are unearthed, King T’Chaka, his brother, is forced to confront him. Their meeting ends fatally, and the king must bear the weight of his secret: that it was he who murdered his brother to save the life of Zuri (Forest Whitaker), his trusted advisor. And though we don’t know it yet, this is the film’s heart, the moment every subsequent action will flow through.

The ensuing story splits along dueling ideologies. It picks up where Captain America: Civil War drew to a close, with T’Challa (Chadwick Boseman) assuming control of his country’s fate in the wake of his father’s death. For decades, Wakanda’s utopian spirit has thrived under the cloak of East Africa’s ethereal beauty, believing that if world powers discovered its technological and scientific ingenuity, the country would risk constant threat. Old-guard preservationists—among them, T’Challa’s mother Ramonda (Angela Bassett) and Okoye (Danai Gurira), head of the king’s women-only security unit, Dora Milaje—believe the country must continue as it has for centuries, solely nurturing its own people. Others, like W’Kabi (Daniel Kaluuya) and Nakia (Lupita Nyong’o), confidants to T’Challa, subscribe to a more pan-Africanist worldview, believing that Wakandans have a great duty to aid the less fortunate—be they refugees, poor kids in the US, or activists caught in the tempest of protest against unjust state influence. The time comes when Wakanda can remain immune no longer, realizing that it too must yield to the cry of a changing world.

A specter of change arrives in the form of Erik “Killmonger” Stevens (a villainous, power-drunk Michael B. Jordan); he’s a former Black Ops mercenary fueled by blood and vengeance for the death of this father, Prince N’Jobu. His price is T’Challa’s throne and sovereignty over the nation. Killmonger, who finds an ally in W’Kabi, believes Wakanda must position itself as a global wellspring by equipping marginalized factions with its cutting-edge weaponry—a move he’s sure will liberate the country from the shadows and into an international superpower. Coogler and Joe Robert Cole, who co-wrote the script, turn an age-old narrative on its head via Killmonger’s revisionist fury: The colonized as the colonizers.

Lines are drawn, and what transpires is a film of beauty, backbone, and startling discipline. Technically lush, Black Panther infuses itself with diasporic hybridity: Wakandan dress, architecture, and dialect pull from Mali, Nigeria, Kenya, Ethiopia, and Tanzania. Rachel Morrison, the Academy Award-nominated cinematographer attached to the film, delivers shots full of color and pure awe. When T’Challa travels to the ancestral plain to seek advice from his father, its gaping purple skies extend into the theater, as if we are on this dreamlike quest too. As Marvel films go, Black Panther is rife with franchise touchstones: thrilling action scenes—the most daring of which begins in an underground South Korean casino and rockets into a car chase through the frenzied streets of Busan—are undercut with moments of human spirit and levity (Letitia Wright’s Shuri and Winton Duke’s M’Baku offer up well-timed blushes of humor).

Coogler and T’Challa chart a parallel path here, seeking answers to the same question: who are you ultimately responsible to, your people or the people of the world? For his part, Coogler does due diligence by injecting the film with nods to black culture beyond the backdrop of Wakanda and the traditions of its people. I especially loved the moment when Jordan’s Killmonger, revealed to be of royal blood, calls Bassett’s Ramonda “auntie” with a razor-thin smirk. Or when Shuri jokes with T’Challa about the time-honored footwear he wore to impress tribal leaders, laying into him with, “What are thooose?!?!”

Even free of such context, Black Panther is an unmistakable triumph. Delivered through Coogler’s judicious eye, its existence alone generates a counter-history in film and mass media—first by scraping whiteness from its narrative core, then by making black people and black self-determination the default.

The 31-year-old writer-director has redefined the possibility of a superhero epic, a credit to his singular vision and belief that black stories matter, and that they imbue relevance on the big screen no matter what narrative shape they take. He proved that with Fruitvale Station, his breakout 2013 film about the killing of Oscar Grant, and again with Creed, the 2015 boxing flick that mined the importance of legacy and family.

Black Panther will manifest as a movement bigger than this moment. It’s more than historic pre-sale records, or box-office predictions. The collective hype that’s followed the film since inception has been absolutely volcanic, like nothing I’ve witnessed before.

It’s not that our need for black superheroes has shifted. Films like The Meteor Man and Steel may not have been commercially vibrant, but their stories and their images remain vital to black communities as what one friend described as “arbiters of hope and virtue in ways that transcend the limitations of our everyday, colonized lives.” Another friend who I spoke to this week shared a comparable sentiment: “we need black superheroes to remind ourselves that inventing yourself is not only possible, but necessary for survival.” I cite them because Black Panther, Coogler’s pièce de résistance, has been a reflection of shared hopes in creative industries where black identity is either undervalued or co-opted for empty laughs. These worlds, these august narratives, have always been viable to us.

So, what can a superhero movie be? It can be truth and fire and love. If we’re lucky, it is all of those things, perhaps more. It’s no mistake that Black Panther overflows with them.

All Hail King T’Challa

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Number of crypto hedge funds doubles in four months: Autonomous NEXT data

LONDON (Reuters) – Hedge funds focused on trading cryptocurrencies more than doubled in the four months to Feb. 15, hitting a record high of 226, showed new data from fintech research house Autonomous NEXT on Thursday.

The firm had recorded just 110 global hedge funds with a similar strategy as of Oct. 18, up from 55 funds at Aug. 29 and just 37 at the start of 2017.

Assets under management hit between $3.5 and $5 billion, according to the firm.

Reporting by Maiya Keidan and Jemima Kelly

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2 Big Misconceptions About Work-Life Balance That Will Get In Your Way Of Achieving It

I run a small business. I’m also a writer who is married raising four kids of various ages ranging from baby and toddler to teenager and young adult. In it’s most cartoon-like moments, I feel like I’m part of a three-ring circus with everything I’m trying to manage in work and life. Even in the less crazy times, it is still a daily work-life balance challenge.

For the last year, I’ve been trying to get a handle on all of this work-life balance stuff, which has put me on a search for the “holy grail” of sorts of work-life balance.

In that journey, I’ve done a lot of things that have helped a lot. I’ve learned how to create a realistic vision of what I really want my work-life balance to look like. I’ve learned how to define boundaries better, in particular as it pertains to my cell phone. I’ve even learned to prioritize better in both work and life and build in time for a daily regenerative activity.

I’ve also come to realize that some of the problems many of us have with trying to get work-life balance might be coming from a misconceived notion of what it is. That was certainly the case for me.

Here are the two biggest misconceptions I had about work-life balance that stood in my way until I changed my thinking about them.

1. Better work-life balance = more fun

I have to admit that I went into my search for work-life balance with a belief that it was just about trying to put more fun back into my life. Maybe I was just a hopelessly busy entrepreneur and dad who was looking for more vacations, more relaxing at the beach, more sleeping in, and more of all of that kind of stuff.

As I got more into trying to really figure out my work-life balance problem, I realized that whereas most of us that are entrepreneurs and parents certainly would like more of all of those fun and relaxing things, getting work-life balance wasn’t just about that. I started to call this the “Carnival Cruise” version of work-life balance, and I found that many people I talked with about work-life balance had a similar version of it.

As I started to really get into the nuts and bolts of putting together my work-life plan – and allocating real hours and real time to real things on both sides of the work-life equation – I realized that getting true work-life balance might not mean doing all of the fun things but instead was about having the right amount of time to put into the most important things both at work and at home. 

Sometimes these things were not fun at all but were incredibly meaningful and important.

Once I got my work-life balance right, I thought about the fact that I now had the time to spend with our teenager during some crisis times. I now had the time to spend with our two-year old son as he worked through a speech challenge.

Neither of these things would fall into the category of beach relaxation or the world’s best vacations, but I had created work-life balance to allow me to do those things. And that’s what work-life balance might really be about.

2. Work-life balance does not always mean a 50:50 split between work and life activities

Maybe I was being a bit literal, but seemingly every visual depiction of work-life balance (including the one for this article) showed a scale with equal amounts of things on each side of the work-life see-saw.

This kind of made me feel like it had to be a 50:50 split in terms of how much went to each side. What I started to realize on my own journey was that very rarely is it ever 50:50. Maybe more importantly, it is perfectly fine if it isn’t.

For me at this point in my life, my work-life balance scale is skewed to about 65:35 on the “life” side of the equation. If I looked at a scale, that could appear like imbalance and make me feel like I hadn’t succeeded in getting balance. But in reality, it is perfectly balanced for my current wants and needs.

Until I came to terms with this, I kept feeling like I had to eliminate certain elements of the life side of my equation to get it to a perfect 50:50 balance.

If you are on the quest for your own holy grail of work-life balance, try thinking about these two misconceptions and applying different thinking about them to your own situation. I know that I got stuck halfway down the road until I figured them out myself.

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The No. 1 Reason Entrepreneurs Fail to Achieve Their Goals

We are officially mid-way through first quarter, 2018. How are you doing on the goals you set at the first of the year?

I can say with a reasonable amount of certainty that the average small business owner won’t complete their goals list, not even by fourth quarter. Why? Because they’re not addressing this goal-crushing problem: an environment that doesn’t support their growth.

You can’t possibly expect more of yourself if you don’t change the environment that consistently prevents you from acting on your growth plans. Things like interruptions, client demands, employee issues, and spending time in the small details may come to mind. Sure, these problems will only continue to block your growth if you don’t address them, but the real problem isn’t around you, it’s inside of you.

While the above examples may exist in your external environment, and they are a problem, it’s also very important to consider your internal environment. What about self-doubt, fear of failure, and belief systems like there’s never enough money. The truth is, money and time blocks are usually more significant in the mind than in reality. There is almost always a work-around for lack of funds and a tight schedule, but entrepreneurs fail to see it. As you address these bigger issues, solutions to the common problems will surface.

Ask this question first. 

As my clients form new goals I ask them this question: “Can you list ten things that may get in the way of achieving this goal?” Usually there aren’t ten things, but it forces them to dig deep. Typically, it’s not until number seven or eight that they reach the golden nugget: the real problem is within them, not outside of them.

Can you list ten things? Name a goal and ask yourself why you haven’t moved the needle on it. Be honest with yourself. Look at the problems on the outside, as well as the inside. If you examine your deeper thoughts, you’ll most likely become aware of the limiting beliefs that contribute to all of the other issues. Beliefs like, no one else can do these things for me, or, I have to be available to my customers and employees round the clock. Neither of which are true.

We unconsciously create excuses such as these because something deeper and more significant is in the way and we don’t know it–or don’t want to admit it. The bigger issue is usually rooted in fear. From fearing failure to lack of self-worth and not believing in one’s self.  What are the odds of getting what you want if you continue to buy into your excuses, or worse–if deep down inside, you don’t believe in yourself?  

This is not an easy exercise to do on your own, so you may wish to work with a coach or design a support system of peers with whom you have a foundation of trust.  As you unearth your blocks, don’t get down on yourself. It’s an exciting time because now you can address them, at last. Eliminating what I call the root cause of your problem will change everything.

But how?

Sometimes, the mere recognition of the problem will push an entrepreneur into action. However, most often it takes a fair amount of work to change and there’s no shame in that. Consider how long the beliefs or fears you’ve listed have been in existence. Five years? A lifetime? How can you expect to change things overnight?

The first thing to abolish is any belief that you can do it alone. Asking for help does not make you weak, it makes you human–and very smart. The most brilliant entrepreneurs surround themselves with advisors, mentors, and coaches.

Name one big step toward changing your belief system that you can take today. A commitment to journaling every day, hiring a coach, or simply taking small steps in spite of your inner beliefs and fears. Base your most immediate goals on changing how you think, rather than business-focused results. Once you do this, there will be no stopping you from building your ideal business.

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?The most popular Linux desktop programs are…

Video: Barcelona: Bye Microsoft, hola Linux

LinuxQuestions, one of the largest internet Linux groups with 550,000 members, has just posted the results from its latest survey of desktop Linux users. With approximately 10,000 voters in the survey, the desktop Linux distribution pick was: Ubuntu.

While Ubuntu has long a been popular Linux distro, it hasn’t been flying as high as it once was. Now it seems to be gathering more fans again. For years, people never warmed up to Ubuntu’s default Unity desktop. Then, in April 2017, Ubuntu returned to GNOME for its default desktop. It appears this move has brought back some old friends and added some new ones.

An experienced Linux user who voted for it said, “I had to pick Ubuntu over my oldest favorite, Fedora. [That’s] Simply based on how quick and easy I can get Ubuntu set up after a clean install, so easy with the way they have it set up these days.”

Right behind Ubuntu was Linux Mint. Mint is a favorite for users who want an easy-to-use Linux desktop — or for users who want to switch over from Windows.

http://www.zdnet.com/article/the-most-popular-linux-desktop-programs-are/, followed closely by antiX. With either of these, you can run a high-quality Linux on PCs powered by processors as old as 1999’s Pentium III.

In the always hotly-contested Linux desktop environment survey, the winner was the KDE Plasma Desktop. It was followed by the popular lightweight Xfce, Cinnamon, and GNOME.

If you want to buy a computer with pre-installed Linux, the Linux Questions crew’s favorite vendor by far was System76. Numerous other computer companies offer Linux on their PCs. These include both big names like Dell and dedicated small Linux shops such as ZaReason, Penguin Computing, and Emperor Linux.

Many first choices weren’t too surprising. For example, Linux users have long stayed loyal to the Firefox web browser, and they’re still big fans. Firefox beat out Google Chrome by a five-to-one margin. And, as always, the VLC media player is far more popular than any other Linux media player.

For email clients, Mozilla Thunderbird remains on top. That’s a bit surprising given how Thunderbird’s development has been stuck in neutral for some time now.

When it comes to text editors, I was pleased to see vim — my personal favorite — win out over its perpetual rival, Emacs. In fact, nano and Kate both came ahead of Emacs.

There was, however, one big surprise. For the best video messaging application the winner was… Microsoft Skype. Now, Skype’s been available on Linux for almost a decade, and recently, Canonical made it easier than ever to install Skype on Linux. But, still, Skype on Linux?

Jeremy Garcia, founder of LinuxQuestions, thought the result might have come about because: “Video Messaging Application was a new category this year and participation was extremely low. Additionally, Secure Messaging Application was broken out into a separate category that had higher participation and resulted in a tie between Signal and Telegram.”

Of course, it’s also possible that even passionate Linux people can like a Microsoft product. After all, Microsoft now supports multiple Linux distributions on its Azure cloud.

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Alibaba signs deal to offer Disney shows on video platforms

SINGAPORE (Reuters) – Alibaba Group Holding Ltd’s entertainment arm has signed a licensing agreement with Walt Disney Co in a deal that will provide the Chinese group’s Youku video streaming platform with the largest Disney animation collection in China.

Alibaba said in a press release on Monday that the multi-year licensing agreement signed between Alibaba Digital Media and Entertainment Group and Disney subsidiary Buena Vista International Inc will see more than 1,000 Disney episodes released on Alibaba platforms which include set-top boxes.

The deal comes as Disney has faced obstacles in getting digital television content into China. In 2016, its DisneyLife online content venture, which it launched with Alibaba, was shut down by Chinese regulators less than five months after operations began. The reason for the shutdown was not made public.

FILE PHOTO: The sign of Walt Disney Studios Park is seen at the entrance at Disneyland Paris ahead of the 25th anniversary of the park in Marne-la-Vallee, near Paris, France, March 21, 2017. REUTERS/Benoit Tessier/File Photo

“The addition of Disney content greatly enriches the library of quality international content on Alibaba’s media and entertainment ecosystem, giving us a leading edge in foreign content distribution in China,” said Yang Weidong, president of Youku at Alibaba Digital Media and Entertainment Group.

Alibaba did not disclose the value of the deal.

Youku reaches 580 million devices and gets about 1.2 billion views each day, according to Alibaba’s news website Alizila. It said the platform already has similar licensing deals with Warner Bros., Paramount, Fox, NBCUniversal and Sony Pictures Television, among others.

Reporting by Brenda Goh

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Exclusive: Amazon paid $90 million for camera maker's chip technology – sources

SAN FRANCISCO (Reuters) – Amazon.com Inc (AMZN.O) paid about $90 million to acquire the maker of Blink home security cameras late last year, in a secret bet on the startup’s energy-efficient chips, people familiar with the matter told Reuters.

The deal’s rationale and price tag, previously unreported, underscore how Amazon aims to do more than sell another popular camera, as analysts had thought. The online retailer is exploring chips exclusive to Blink that could lower production costs and lengthen the battery life of other gadgets, starting with Amazon’s Cloud Cam and potentially extending to its family of Echo speakers, one of the people said.

Amazon views its in-house devices as key to deepening its relationship with shoppers. The Cloud Cam and Echo currently need a plug-in power source to operate. Blink, which says its cameras can last two years on a single pair of AA lithium batteries, could change that.

Amazon declined to comment on the acquisition’s terms or strategy.

The deal so far has drawn little attention. The camera maker announced its takeover by Amazon with scant details in a Dec. 21 blog post. Analysts have viewed Blink as part of the retailer’s strategy for Amazon Key, a new program where shoppers can set up a smart lock and surveillance camera so delivery personnel can slip packages inside their homes when they are away. Amazon also sees opportunity in the security camera market as smart-home technology expands.

But Blink was not merely a camera business. Its little-known owner, Immedia Semiconductor, was started in Massachusetts by old hands from the chip industry. Chief Executive Peter Besen and two of his co-founders came from Sand Video, which had designed chips in the early 2000s that decoded a new and improved video standard.

In 2004 they sold Sand Video to Broadcom Ltd (AVGO.O) and remained there as executives, according to an Immedia website. The group left in 2008 to create Immedia, aiming to design chips for video conferencing, and later targeting laptop makers as potential customers.

Dan Grunberg, a co-founder who left Immedia in 2016, said that plan fell through. Laptop makers were unwilling to pay $1 per chip when cheaper options were on the market. So Immedia pivoted.

“If we make our own camera, we don’t have to sell a hundred million” chips, he said. Grunberg declined to discuss Immedia’s sale to Amazon.

The Blink security camera, which hit the market in 2016, did not require a power cable like many rival products, making it easier to place around users’ properties. It was cheaper, too, starting at $99. Amazon’s wired Cloud Cam launched at $119.99, while Netgear Inc’s (NTGR.O) wire-free Arlo cost more still. Netgear said last week it plans to spin off its Arlo business.

“Battery life is a big issue in connected devices,” said Scott Jacobson, a former Amazon devices manager and now managing director of Madrona Venture Group. “Always-on cameras that last for months and don’t require a wired connection or an electrician to install could be game-changing.”

As Blink’s sales rose on Amazon’s website, the retailer took notice, sources said, leading to talks with the camera maker about a deal.

Flybridge Capital Partners, Comcast Ventures, Baker Capital, Dot Capital and some suppliers were investors in the company.

Amazon’s regulatory filings show it spent $78 million on acquisition activity in the quarter ended Dec. 31. Sources said the bid was competitive, and that compensation and incentives offered by Amazon pushed the deal’s value to about $90 million.

Madrona’s Jacobson, who had no knowledge of the acquisition’s details, speculated that Amazon might apply the Blink team’s expertise to cameras in drones or in its new checkout-free stores.

The chips could give Amazon other advantages, too.

The proprietary chip design will make it harder for rival retailers to copy Amazon’s devices, said Matt Crowley, chief executive of Vesper, a sensor and semiconductor company that makes microphones.

And now that Amazon owns its own chips, it can go straight to the manufacturers, cutting out middlemen chip designers such as Ambarella Inc (AMBA.O), which has powered GoPro Inc (GPRO.O) products. Amazon has a division called Annapurna Labs that makes an unrelated kind of chip, and it was not clear which supplier it uses for chips that primarily process video.

“Vertical integration reduces cost,” Crowley said. Digital video chips “are one of the more expensive components” in a camera.

Reporting By Jeffrey Dastin in San Francisco; Additional reporting by Stephen Nellis and Liana Baker; Editing by Marla Dickerson

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Dunkin' Donuts Has a Stunningly Simple New Trick So You'll Get Your Coffee Faster

In New England, people love their Dunkin’ Donuts.

Heck, I was in a Dunkin’ Donuts in Massachusetts once, and a guy showed me how you could actually see two other Dunkin’ Donuts from the parking lot of the first Dunkin’ Donuts.

But for all of Dunkin’ Donuts regional ties, the company has its sights set on world domination. And as corporate leaders explained this week, they’re using some surprising tricks–some of them so simple you’ll wonder why nobody else is doing them–in order to get there.

A lot of this comes down to how fast Dunkin’ Donuts can get a cup of coffee into your hands, so it can turn around put another cup of coffee in somebody else’s hands. (Maybe an egg sandwich, too.)

The more quickly they move you through, the more customers they can serve, and the more money they make. Basic math. 

So, they’ve got a couple of short, simple words for you: “drive-thru,” and “mobile app.” 

It’s all on display now at the company’s new “next generation concept store” in Massachusetts. Pull up to the drive-thru there, and you’ve got a choice of two lanes.

There’s the regular drive through, where cars line up, order, wait their turn, and pick up their coffee and food–pretty much like every other drive-thru lane in the world.

But, there’s also an “exclusive On-the-Go drive-thru lane,” as Dunkin’ Donuts calls it in a press release, that lets you skip ahead of all the other customers, and go right to the front of the line. Think of it as first class for coffee.

What do you have to do in order to fly first class at Dunks? Join their “DD Perks” rewards program, and place your order via your phone on the Dunkin’s Mobile App.

It’s a pretty simple concept, and if you’re from New England like me, it might even strike you as “wicked smart.”

Dunkin’ Donuts certainly isn’t the first restaurant to try to push people to order via an app–but they claim to be the first national restaurant to combine it with the drive-thru.

In retrospect, it’s almost obvious, given that industry wide, between 30 and 70 percent of customers reportedly use drive-thrus. (The wide range has a lot to do with individual restaurants’ focuses, and the times of the day that customers visit.)

Now, it will probably tick some people off in the short term, at least the first few times they show up and realize that they have to wait longer than other customers because they’re paying in cash or with a credit card.

A lot of them will convert, though, because if you grab a coffee on the way to work each day, and if using the “On-the-Go” lane saves you 90 seconds each time because you’re not stuck behind somebody else putting in their order–that could add up to six hours a year.

There are some other smaller changes being tested in the new “next generation store,” (which happens to be about a mile from the original Dunkin’ Donuts location from 1950). Among them: a tap system for cold beverages, electronic order kiosks, and greater energy efficiency.

They also want to convince you that Dunks is a place to visit in the afternoon, and open hundreds more stores outside of the northeast. And they’re getting rid of their foam cups.

But I’m going to put my money on the “mobile-preferred” drive-thru ordering experiment as the smartest, simplest innovation. 

There’s some history, too: This is the company whose lineage includes the entire concept of franchising restaurants in the United States–years before McDonald’s started doing it–and leveraged it to build Dunkin’ Donuts into a national name.

Oh, right. The name. I almost forgot. They’re dropping the “Donuts” part of it soon. They should just go with Dunks, since that’s what everyone calls them in New England anyway, but apparently they want to change to just “Dunkin’.”

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The *Waymo v. Uber* Settlement Marks a New Era for Self-Driving Cars: Reality

The sun had only just come up Friday, but the young self-driving car industry had already moved into a new era. From the bench, federal Judge William Alsup, recovering from a sore throat, called it: “This case is now ancient history.”

Waymo v. Uber, the first great legal fight over autonomous vehicles, ended in a peace treaty Friday morning: Uber gave Google’s sister company a 0.34 percent stake in its business (worth $245 million or $163 million, depending on how you count Uber’s worth), and pledged not to use any of Waymo’s software or hardware in its vehicles. “I want to express regret for the actions that have caused me to write this letter,” Uber CEO Dara Khosrowshahi wrote in a statement posted on the ride-hailing company’s website.

Waymo had alleged that when longtime Google engineer Anthony Levandowski resigned to start his own company, he took thousands of vital technical documents with him, including blueprints for the lidar laser sensor he had helped develop. Uber bought Levandowski’s startup a few months later for almost $600 million in equity and put Levandowski in charge of its struggling self-driving R&D effort. In Waymo’s telling, Levandowski and Uber used Waymo trade secrets to accelerate their efforts.

In large part, the lawsuit encapsulated the stakes in the early days of an industry that’s now booming. Back then, a good lidar system was so rare and coveted that it might be worth stealing. A single engineer like Levandowski, who helped found Google’s self-driving car team a decade ago, could merit a palace coup. And just two companies—Google, the progenitor of self-driving tech, and Uber, the virile challenger eager to convert its millions of human-operated cars into much more profitable robots—command nearly all the headlines and attention of anyone eager for a world where human drivers are a lol-worthy memory.

That world looks different now. More than 20 companies are currently developing lidar, making the sensor more necessary commodity than secret sauce. A pedigree like Levandowski’s loses its luster as a new generation of engineers, trained in robotics and machine learning, emerges. At least half a dozen companies not involved in this brouhaha have proven they can make cars drive about without human help. Waymo v. Uber was a fight over a once jealously guarded technology that today verges on commonplace. And now that the suit is settled, everyone can turn to the next chapter in the textbook, the one where all the companies grow up and figure out how to deploy the thing they’ve all created.

“This is evidence that the autonomous driving problem is not going to be solved by a single silver bullet,” says Shahin Farshchi, a partner at the venture capital firm Lux. “It’s a matter of building many things and getting many things to work together.”

As any good historian will tell you, a moment like the Visigoth-induced fall of Rome in 476 or Judge Alsup’s decree that “there’s nothing more for me to do here” doesn’t really trigger an epochal shift. It’s just a convenient marker. The transition from developing self-driving technology to actually deploying it happened independent of this case. Even before Waymo filed its lawsuit, others were turning a horse race into a stampede: General Motors acquired self-driving startup Cruise. The mysterious startup Zoox started testing in San Francisco. Waymo alum Bryan Salesky decamped for Argo AI and partnered with Ford. Former Google self-driving chief Chris Urmson founded Aurora and is now working with Volkswagen, Hyundai, and Chinese automaker Byton.

Of course, the settlement has tangible effects. First, Uber lives. The threat of a billion-dollar penalty or an injunction that could shut down its entire self-driving program has evaporated. As Uber co-founder and former CEO Travis Kalanick testified, the company sees autonomous vehicle tech as vital to its existence. If someone else figures out how to run a taxi service without a driver before Uber does, then Uber loses.

Uber wins that second life pretty cheaply, too. No money changes hands as part of this deal; Waymo receives a mere 0.34 percent stake in the ride-hailing company. Each party in the lawsuit will pay its own lawyers. And with that, Khosrowshahi ticks another box off his lengthy Fix Uber list, which also included a house cleaning after the company revealed it had paid off hackers following a 54-million-account security breach and an apology tour in London for safety infractions.

Waymo, meanwhile, maintains its position at the head of the self-driving pack, and shows competitors it’s willing to bleed a bit to stay there. “It was great from Waymo’s perspective to put everyone on notice: ‘We take our leadership position seriously and we will go hammer and tong after anyone who will upset that,”’ says Reilly Brennan, cofounder of the transportation-focused venture capital firm Trucks.

That goes for its own engineers, too. Pierre-Yves Droz, Waymo’s current lidar technical head, testified Thursday that, OK, yes, he had taken an outdated version of one lidar setup to Burning Man. And yes, he had taken two other versions home (with his bosses’ permission). Uber lawyers seemed prepared to argue that this wanton toting-about of self-driving tech proved that Waymo’s lidar wasn’t a trade secret after all. You have to hide stuff for it to be a secret.

So expect no more lidar shows at Burning Man, and no more carelessly protected servers. It’s time for the self-driving space, Waymo included, to grow up and be diligent about keeping their tech in-house. This is a real industry now. The money is still theoretical, but the autonomous vehicle market could be worth $7 trillion by 2050, according to a 2017 Intel report.

Protecting intellectual property means telling employees what is and what isn’t secret—especially if they’re about to leave. “The critical juncture to reinforce those expectations is in the exit interview,” says John Marsh, a lawyer with the firm Bailey Cavalieri. “The employer says, “Hey, by the way, you signed this agreement about trade secrets when you started here; if you have questions, come see me. I expect you’re going to abide by this.’”

In the abridged trial, an Uber lawyer asked Waymo hardware engineer Sasha Zbrozek whether anyone at Google looked for activity that signaled someone was downloading huge numbers of files.

“No,” Zbrozek responded. “But nobody monitors when you get water from the fridge either.”

The time for such freedom could be ending. As autonomous driving technology approaches reality—the you give someone money to ride in this thing kind of reality—expect better defined policies and lots more rules. And maybe a camera watching the water dispenser, too.

Waymo’ Autonomy

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Alibaba kicks off sponsor deal in Pyeongchang

PYEONGCHANG (Reuters) – Alibaba Group Holding Ltd (BABA.N) is launching a project that will create a “smarter” and more connected athletes’ village and stadia and make all Olympics stakeholders “more money”, its executives said on Saturday.

Many of Alibaba’s plans are still concepts since it has not had enough time to implement its technology after signing a deal last year worth hundreds of millions of dollars as a cloud and e-commerce partner with the International Olympic Committee.

But IOC president Thomas Bach said some of Alibaba’s plans “can become operational pretty soon” while Alibaba founder Jack Ma said they expected to be realized at the next Winter Games in Beijing in 2022.

“We want to make the Olympic Games so everyone can make more money,” Ma said, adding that “everyone” meant groups such as host cities’ organizing committees, athletes and sponsors.

Alibaba is one of the few top Olympics sponsors signed with the IOC until 2028.

It has said it wants to upgrade the technology that keeps the Games running.

It also unveiled its “sports brain,” on Saturday, a suite of software products designed to improve the back office of how sports events are run.

Ma, who appeared onstage with Bach, said he was moved by North Korea and South Korea marching together in the opening ceremony on Friday since it reflected “peace and prosperity”.

Former NBA player Yao Ming was in the audience at the media conference, which featured an interpretive dancer and a magician pulling a bird out of a hat.

Alibaba has about 200 to 300 employees on the ground in Pyeongchang to study how the games run and help find ways to save future host countries money.

Alibaba’s Tmall and Taobao shopping platforms dominate online retail in China. But it is not well known in many parts of the world, including in the United States where Amazon.com Inc is the e-commerce leader.

It is using an international branding campaign focused on the Olympics to help introduce it to markets such as the United States and Great Britain.

Editing by Greg Stutchbury

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U.S. Olympic Curler Is Reminding Everyone of ‘Super Mario’

The Pyeongchang Winter Olympics have a surprise participant: a Mario lookalike.

TV viewers watching U.S. curling team members Matt Hamilton and his sister Becca noticed something interesting about him: He looked an awful lot like Mario, the famed character from Nintendo’s popular Super Mario video game franchise.

A Twitter user shared the observation on Wednesday by saying that Hamilton, wearing a red shirt and red hat while sporting a mustache, looked like the Nintendo protagonist. Whoever manages the U.S. Olympic Team’s Twitter account saw the tweet and challenged followers to “spot the difference” between the curler and Mario. The tweet included a picture of Hamilton and Mario, side-by-side.

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Hamilton, who along with his sister also holds the distinction of winning the first Olympic mixed doubles curling match in history, hasn’t mentioned the Mario jokes directly. He did, however, retweet the U.S. Olympics tweet on Wednesday.

Hamilton is the first of what will likely be many stories coming out of the Pyeongchang Games, which holds its opening ceremony on Friday. But it’s hard to believe we’ll find another Mario lookalike at this year’s games. Would a Luigi lookalike be too much to ask for, though?

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Nvidia's upbeat forecast powered by data center, cryptocurrency demand

(Reuters) – Nvidia Corp’s (NVDA.O) upbeat current-quarter revenue forecast on Thursday underscored surging demand for its graphics chips used in data centers, gaming devices and cryptocurrency mining, sending its shares up as much as 12 percent in extended trading.

The company, which also reported better-than-expected quarterly results, is reaping the benefits from the launch of its Volta chip architecture last year. Volta help build processors that power a range of technologies such as artificial intelligence and driverless cars.

“Virtually every internet and cloud service provider has embraced our Volta GPUs,” Nvidia’s Chief Executive Officer Jensen Huang said in a statement. (bit.ly/2iJPeNN)

Revenue from Nvidia’s widely watched data center business, which counts Amazon.com Inc’s (AMZN.O) Amazon Web Services and Microsoft Corp’s (MSFT.O) Azure cloud business among its customers, more than doubled to $606 million.

That trounced analysts’ average estimate of $541.1 million.

Data center should continue to grow pretty nicely into calendar 2018 and beyond, Morningstar analyst Abhinav Davuluri said.

The boom in cryptocurrencies is also powering demand for chips from Nvidia and rival AMD (AMD.O) as they provide the high computing ability required for cryptocurrency “mining.”

“Strong demand in the cryptocurrency market exceeded our expectations,” Chief Financial Officer Colette Kress said on a conference call.

“While the overall contribution of cryptocurrency to our business remains difficult to quantify, we believe it was a higher percentage of revenue than the prior quarter.”

The company said inventory levels of its gaming GPUs throughout the quarter was lower than historical channel inventory levels due to surging demand from cryptocurrency miners.

The price of Bitcoin, the most popular cryptocurrency, rose more than 1,300 percent in 2017. Prices have, however, dropped about 40 percent this year.

Nvidia’s revenue from gaming, for which it is best known, rose 29 percent to $1.74 billion, accounting for a more than half of its total revenue in the fourth quarter, and also beating analysts’ estimate of $1.59 billion.

The company forecast current-quarter revenue of $2.90 billion, plus or minus 2 percent, well above the analysts’ average estimate of $2.47 billion, according to Thomson Reuters I/B/E/S.

Net income rose to $1.12 billion, or $1.78 per share, in the fourth quarter ended Jan. 28 from $655 million, or 99 cents per share, a year earlier.

Results include a $133 million gain related to the new U.S. tax law.

Total revenue rose 34 percent to $2.91 billion, topping estimate of $2.69 billion.

Excluding items, the company said it earned $1.72 per share.

Nvidia earned $1.57 per share, excluding the tax benefit, according to Thomson Reuters I/B/E/S, beating estimate of $1.17.

The company’s shares were trading at $233 in extended trading. They have surged about 83 percent in the past 12 months.

Reporting by Arjun Panchadar and Supantha Mukherjee in Bengaluru; Editing by Anil D’Silva and Sriraj Kalluvila

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Take-Two raises forecast on boost from 'NBA 2K18', 'Grand Theft Auto'

(Reuters) – Take-Two Interactive Software Inc lifted its full-year adjusted revenue forecast on Wednesday, as the videogame maker expects to benefit from the latest version of its popular basketball franchise and its iconic “Grand Theft Auto” series.

The company is betting on these two games after further delaying last week the launch of its highly anticipated Western action-adventure “Red Dead Redemption 2” to Oct. 26. The game was scheduled to be launched in spring 2018.

Take-Two’s basketball franchise “NBA 2K18”, launched in September, grabbed the No.2 spot on the 2017 best-selling games list, according to market research firm NPD Group.

The company’s “Grand Theft Auto V” was the No.3 selling title last year in terms of units sold, according NPD, four years after the game’s first release.

“We are expecting another record year for ‘Grand Theft Auto Online’,” Chief Executive Strauss Zelnick said on a call with analysts. “Everything is going better-than-expected and we do have pretty high expectations.”

The game’s online version has also helped in its longevity. The company launched “Doomsday Heist” for “GTA Online” during the holiday quarter.

However, Take-Two forecast current-quarter revenue largely below Wall Street’s expectations. The company said it expected adjusted revenue of $410 million to $460 million, compared with analysts’ average estimate of $442.1 million.

There is a bit of seasonality in our business. You can’t really compare quarter-to-quarter or same quarter over the prior-year quarter, Zelnick said.

Shares of the company, which more than doubled in value in 2017, fell 2.4 percent in extended trading on Wednesday.

U.S. videogame producers typically guide below market expectations but almost always beat them.

For the year ending March 31, Take-Two said it expected adjusted revenue forecast of $1.99 billion to $2.04 billion, up from $1.93 billion to $2.03 billion.

Analysts on average were expecting $2.02 billion, according to Thomson Reuters I/B/E/S.

Take-Two said it expects to deliver record adjusted revenue in excess of $2.5 billion for fiscal 2019.

The company reported net income of $25.1 million, or 21 cents per share, in third quarter ended Dec. 31, compared with a loss of $29.8 million, or 33 cents per share, a year earlier.

Take-Two said it had a net benefit of $11.9 million in the latest quarter from the overhaul of the U.S. tax code.

On an adjusted basis, the company reported revenue of $653.9 million, while analysts’ on average had expected $663.8 million.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila

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Hackers Could Crack Millions of Samsung and Roku Smart TVs

Millions of so-called smart TVs have security vulnerabilities that hackers could exploit.

That’s according to Consumer Reports, which released results on Wednesday of a security review of certain smart TVs, the name given to Internet-connected televisions. They included models sold by Samsung as well as Chinese-TV maker TCL that use a particular feature by the streaming media device company Roku.

Although hackers are unable to steal sensitive data like credit card numbers through the security holes, they could use it to manipulate people’s televisions and play offensive videos, install unwanted apps, or suddenly scroll through channels.

“The process was crude, like someone using a remote control with their eyes closed,” Consumer Reports said. “But to a television viewer who didn’t know what was happening, it might feel creepy, as though an intruder were lurking nearby or spying on you through the set.”

The Consumer Reports study highlights the growing popularity of web-connected televisions that make it easy for people to watch streaming video services like Netflix on their TVs. But being connected online puts these televisions at risk of potential hacking if they have bugs that hackers can exploit.

In 2012, for example, security researchers showed that they could hack and gain control of certain Samsung Smart TVs, according to a report by tech news site Ars Technica.

Consumer Reports tested a TCL Smart TV that came installed with a version of Roku’s streaming media software that it said included a security bug. Other TV makers using Roku’s software include Hisense, Hitachi, Insignia, Philips, RCA, and Sharp, all of which could be affected in addition to some of Roku’s streaming media devices, the publication said.

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Roku’s streaming video software contains a so-called application programming interface, or API, that third-party developers can use to build their own smartphone apps that act like television remote controls. However, hackers could potentially exploit this API, which Consumer Reports said is “unsecured.”

To get hacked, people would have to be using their smartphones or personal computers on the same Wi-Fi network to which their Smart TVs are connected, and then visit a malicious website or download an app that contains software code that would let hackers take over, the report said.

Roku, however disputes Consumer Reports’ claims and said in a blog post that it presented a “mischaracterization of a feature.”

“There is no security risk to our customers’ accounts or the Roku platform with the use of this API,” Roku said, adding that customers could turn off this particular remote control feature.

Asked about a similar bug found in Samsung Smart TVs that doesn’t use Roku’s software, a Samsung spokesperson told Consumer Reports that it’s investigating the problem and that it would release software update this year that would presumably fix other related errors.

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Capacity alone won't assure good cloud performance

Many people believe that workloads in the cloud always perform better because public clouds have access to an almost unlimited amount of resources. Although you can provision the resources you need—and even use serverless computing so the allocation of resources is done for you—the fact is that having the right amount of resources is only half the battle.

To get good cloud performance means you have to be proactive in testing for performance, not be reactive and wait for an issue to arrive in production. After all, performance depends on much more than raw capacity.

I strongly encourage testing. If you’re using devops to build and deploy your cloud application workloads, your testing for security, stability, and so on are typically done withcontinuous testing tools as part of the devops process.

But what about performance testing?

Truth be told, performance testing is often an afterthought that typically comes up only when there is a performance problem that the users see and report. Moreover, performance usually becomes an issue when the user loads surpass a certain level, which can be anywhere from 5,000 to 100,0000 concurrent sessions, depending on the application. So you discover a problem only when you’re got high usage. At which point you can’t escape the blame.

An emerging best practice is to build in performance testing into your devops or cloud migration process. This means adding performance tests to the testing mix and look at how the application workload and connected database deals with loads well beyond what you would expect.      

This means looking for a performance testing tool that is compatible with your application, the other devops tools you have, and the target cloud platform where the application is to be deployed. Of course, a “cool tool” itself is not the complete answer; you need testing engineers to design the right set of testing processes in the first place.      

Ironically, although devops itself ( as both a process and tool set) is all about being proactive in terms of testing, most devops processes that I’ve seen don’t do much performance testing, if any at all.     

Withouth that testing, you can’t answer the question “When will my cloud workload hit the performance wall?” Instead, your users find out for you, and you may discover it’s time to look for a new job.         

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Apple and Cisco Team Up on Cybersecurity Insurance

Apple and Cisco are now offering insurance policies to companies to protect them financially against cyber attacks.

The insurance policies are part of a broader package that also includes corporate security reviews. As part of the package, professional services firm Aon will perform security consulting for companies, while insurance firm Allianz will provide discounted cyber security insurance coverage as long as the customers use certain Apple devices and Cisco security products.

“We’re thrilled that insurance industry leaders recognize that Apple (aapl) products provide superior cyber protection, and that we have the opportunity to help make enhanced cyber insurance more accessible to our customers,” Apple CEO Tim Cook said in a statement.

Cook and Cisco (csco) CEO Chuck Robbins said in June that the two companies were exploring a joint-insurance policy program for corporate customers that use their two products, but they didn’t reveal their insurance company partners at the time.

The move highlights Apple’s desire to become a big business technology provider that sells its flagship iPhones, iPad, and Mac computers to corporate offices.

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Apple formed a partnership with Cisco in 2015 in which the two companies share engineering teams that make their respective technologies more compatible with each other. At the time, the two companies were working to make Cisco’s networking and video and web conferencing services work better with Apple’s iOS and MacOS devices, but it appears they have since expanded it to include Cisco’s security services.

In August, insurance giant American Insurance Group said it would start selling cyber security insurance plans to U.S. consumers who fear that their sensitive data like social security or credit card numbers could get exposed to hackers online.

Clarification: This article was updated to make clearer that Cisco and Apple are not directly selling insurance.

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Apple and Cisco Team Up on Cybersecurity Insurance

Apple and Cisco are now offering insurance policies to companies to protect them financially against cyber attacks.

The insurance policies are part of a broader package that also includes corporate security reviews. As part of the package, professional services firm Aon will perform security consulting for companies, while insurance firm Allianz will provide discounted cyber security insurance coverage as long as the customers use certain Apple devices and Cisco security products.

“We’re thrilled that insurance industry leaders recognize that Apple (aapl) products provide superior cyber protection, and that we have the opportunity to help make enhanced cyber insurance more accessible to our customers,” Apple CEO Tim Cook said in a statement.

Cook and Cisco (csco) CEO Chuck Robbins said in June that the two companies were exploring a joint-insurance policy program for corporate customers that use their two products, but they didn’t reveal their insurance company partners at the time.

The move highlights Apple’s desire to become a big business technology provider that sells its flagship iPhones, iPad, and Mac computers to corporate offices.

Get Data Sheet, Fortune’s technology newsletter.

Apple formed a partnership with Cisco in 2015 in which the two companies share engineering teams that make their respective technologies more compatible with each other. At the time, the two companies were working to make Cisco’s networking and video and web conferencing services work better with Apple’s iOS and MacOS devices, but it appears they have since expanded it to include Cisco’s security services.

In August, insurance giant American Insurance Group said it would start selling cyber security insurance plans to U.S. consumers who fear that their sensitive data like social security or credit card numbers could get exposed to hackers online.

Clarification: This article was updated to make clearer that Cisco and Apple are not directly selling insurance.

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Seattle finds Facebook in violation of city campaign finance law

SAN FRANCISCO (Reuters) – Seattle’s election authority said on Monday that Facebook Inc is in violation of a city law that requires disclosure of who buys election ads, the first attempt of its kind to regulate U.S. political ads on the internet.

Facebook must disclose details about spending in last year’s Seattle city elections or face penalties, Wayne Barnett, executive director of the Seattle Ethics and Elections Commission, said in a statement.

The penalties could be up to $5,000 per advertising buy, Barnett said, adding that he would discuss next steps this week with Seattle’s city attorney.

It was not immediately clear how Facebook would respond if penalized. Facebook said in a statement it had sent the commission some data.

“Facebook is a strong supporter of transparency in political advertising. In response to a request from the Seattle Ethics and Elections Commission we were able to provide relevant information,” said Will Castleberry, a Facebook vice president.

Barnett said Facebook’s response “doesn’t come close to meeting their public obligation.” The company provided partial spending numbers, but not copies of ads or data about whom they targeted.

The unregulated nature of U.S. online political ads drew attention last year after Facebook said Russians using fake names bought ads on the social network to try to sway voters ahead of the 2016 presidential election. Moscow denies trying to meddle in the election.

Buying online election ads requires little more than a credit card. Federal law does not currently force online ad sellers such as Facebook or Alphabet Inc’s Google and YouTube to disclose the identity of the buyers.

Legislation is pending to extend federal rules governing political advertising on television and radio to also cover internet ads, and tech firms have announced plans to voluntarily disclose some data.

Facebook Chief Executive Mark Zuckerberg said in September that his company would “create a new standard for transparency in online political ads.”

At the center of the Seattle dispute is a 1977 law that requires companies that sell election advertising, such as radio stations, to maintain public books showing the names of who bought ads, the payments and the “exact nature and extent of the advertising services rendered.”

The law went unenforced against tech companies until a local newspaper, The Stranger, published a story in December in the wake of the Russia allegations asking why.

Seattle sent letters to Facebook and Google asking them to provide data. The sides have been in talks, and last month Facebook employees met in person with commission staff.

“We gave Facebook ample time to comply with the law,” Barnett said.

Google has asked for more time to comply, and that request is pending, Barnett said.

Legal experts said they were unaware of any similar regulation attempts by other U.S. localities or states.

“Given the negative publicity around Facebook’s failure to provide adequate transparency in the 2016 elections, I would be surprised if they tried to challenge this law,” said Brendan Fischer of the Campaign Legal Center, a nonprofit that favors campaign finance regulation.

Reporting by David Ingram; Editing by Leslie Adler and James Dalgleish

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Tesla Strikes Deal to Give 50,000 Australian Homes Solar Power

The state government of South Australia announced Sunday that it had struck a deal with Tesla to install as many as 50,000 solar-power systems on homes, at no cost to residents.

The system would include both solar panels and Tesla Powerwall batteries, and would become part of a decentralized electric grid managed by software. The system would be funded in part by revenues from electricity, which would not belong to the owners of the homes where the systems were installed.

A pilot version of the program has already begun, and the Australian Broadcasting Corporation spoke to one early recipient whose electric bills had declined substantially. One projection suggested energy bills for participating households would drop by 30%.

The first wave of installations are planned to roll out to about 24,000 government-owned housing units. After that, other South Australians would be able to participate, with a goal of 50,000 participating households within four years. Those homes would be knitted together into what is being referred to as a ‘virtual power plant.’

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Tesla has already made a big splash in South Australia, where late last year it installed the world’s biggest lithium-ion battery as a grid backup system. That system has succeeded dramatically, coming online quickly to prevent blackouts following drops in output from conventional power plants.

The plan may be contingent on the outcome of a March election, in which current South Australian Premier Jay Weatherill faces a challenge from a conservative candidate who opposes specifics of the plan, referring to it as a “reckless experiment.” Weatherill’s opponent, however, also supports large-scale solar installation.

The ambitious plan in Australia could breathe new life into Tesla’s solar efforts. Since acquiring SolarCity (also founded by Musk) in 2016, that unit’s installations have plummeted in the U.S. That has been largely attributed to cuts in marketing efforts. Inking big one-shot deals is likely a higher-margin proposition for solar installations long-term, compared to SolarCity’s previous emphasis on door-to-door retail sales and generous individual financing. Tesla has also recently said it is expanding sales of solar-power systems at Home Depot stores in the U.S.

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Exclusive: Broadcom to raise Qualcomm bid in push for talks, sources say

(Reuters) – Broadcom Ltd (AVGO.O) plans to unveil a new approximately $120 billion offer for Qualcomm Inc (QCOM.O) on Monday, aiming to ratchet up pressure on its U.S. semiconductor peer to engage in negotiations, people familiar with the matter said on Sunday.

The move comes ahead of a Qualcomm shareholder meeting scheduled for March 6, when Broadcom is seeking to replace Qualcomm’s board of directors by nominating its own slate for election.

Broadcom is scheduled to meet with its advisers later on Sunday to finalize an offer that values Qualcomm between $80 and $82 per share, two of the sources said. Broadcom’s previous $70 per share offer consisted of $60 per share in cash and $10 per share in stock.

Broadcom also plans to offer Qualcomm a higher-than-usual breakup fee in the event regulators thwart the deal, according to the sources. Typically, such break-up fees equate to approximately 3 percent to 4 percent of a deal’s size.

The sources cautioned that Broadcom Chief Executive Officer Hock Tan may decide to significantly change the terms at the last minute.

The sources asked not to be identified because the deliberations are confidential. Broadcom and Qualcomm did not immediately respond to requests for comment.

FILE PHOTO: A sign on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo

Broadcom has said it is very confident a deal can be completed within 12 months of signing an agreement. Qualcomm counters that the regulatory review processes required around the world would take more than 18 months and be fraught with risks.

Qualcomm provides chips to mobile carrier networks to deliver broadband and data, making it an attractive acquisition target for Broadcom, which hopes to expand its offerings in so-called 5G wireless technology.

Qualcomm has argued to its shareholders that Broadcom’s hostile bid is aimed at acquiring the company on the cheap.

Qualcomm reported quarterly profit and revenues last week that beat analysts’ expectations as demand surged for its chips used in smartphones and cars. However, its forecast was below estimates due to tepid mobile phone sales in China.

Qualcomm is engaged in a patent infringement dispute with Apple Inc (AAPL.O). Qualcomm has said the litigation is necessary in order to defend is licensing programs.

Qualcomm is also trying to clinch an acquisition of its own, proposing to buy NXP Semiconductors NV (NXPI.O) for $38 billion. The deal was approved by European Union antitrust regulators last month, and only China has yet to approve it. Qualcomm expects the government’s blessing later this month.

The NXP deal still faces an uncertain future as some of its shareholders, including activist hedge fund Elliott Management Corp, have asked Qualcomm to raise its offer. Qualcomm is expected to make a decision later this month.

Reporting by Greg Roumeliotis in New York; Additional reporting by Liana B. Baker in San Francisco; Editing by Jeffrey Benkoe

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Apple Sets Records With Its Best iPhone Ever

If there’s anything that can be said of Apple, it’s that it knows how to make money—even if things don’t appear to be going well.

Apple this week posted a record quarterly profit of $20 billion, thanks in no small part to iPhone revenue jumping 13%. However, Apple’s iPhone unit sales fell year-over-year due to what some analysts have said was sluggish demand for the iPhone X.

Profit aside, that hasn’t stopped people from finding things to complain about. This week, there were reports about why the iPhone X was a mistake for Apple and others about internal Apple meetings about delaying work on new iOS features to improve its mobile operating system’s security and stability. Even Apple co-founder Steve Wozniak couldn’t resistant taking a jab at the company.

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Here’s a look back at the biggest Apple news from the past week:

This is Fortune’s latest weekly roundup of the biggest Apple news. Here’s last week’s roundup.

  1. Apple on Thursday announced that it had $88.3 billion in revenue during the holiday quarter and a $20 billion profit, or $3.89 per share. Both were records. But Apple also worried Wall Street by issuing revenue guidance for the current quarter of $60 billion and $62 billion—far below an average analyst consensus of $65.4 billion. Many analysts believe Apple’s sales forecast is a reflection of slumping demand for the iPhone; shipments for the device dropped 1% year-over-year during the holiday quarter. The earnings also prompted Bernstein Research analyst Toni Sacconaghi to downgrade Apple from “outperform” to “market perform.”
  2. Apple may have changed its plans for this year’s iOS release. According to a report, Apple software chief Craig Federighi last week shelved plans to add new features to this year’s iOS 12 update and instead focused his team on improving the security and reliability of the mobile operating system. The new updates aside from the security and stability updates will likely come to iOS in 2019.
  3. The U.S. Department of Justice and the Securities and Exchange Commission have launched an investigation into a software update Apple released last year that throttled iPhone performance. The agencies are investigating whether Apple violated securities laws in its initial disclosure about the update, which slows the processing performance of iPhones when their batteries start to malfunction.
  4. Apple quickly responded to the investigations this week, saying that it has “never—and would never” introduce software updates that would artificially degrade the iPhone user experience. Apple said that the update was not designed to “shorten the life of any Apple product” and get customers to upgrade to a new handset. Instead, the feature is intended to protect iPhones and keep them working when the battery starts to malfunction.
  5. Apple co-founder Steve Wozniak said recently that he’s generally pleased with Apple’s iPhone X. But his biggest complaint about it centers on the device’s power button and all the functions that can be handled from it, including toggling the device on and off, taking screen shots, or making mobile payments via Apple Pay.

One more thing…There’s been some iPhone X hate making the rounds online lately. In a commentary this week, I discussed why the iPhone X is not only a great smartphone, but also the best iPhone Apple has ever released. Check it out.

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The Sound of a Cyber Bubble Popping

The cryptocurrency market is in a meltdown. Bitcoin prices are down nearly 60% from their December highs, and major banks are cutting off credit card access to crypto exchanges—no surprise in the wake of a mania that saw everyone and their dog sharing hot crypto tips.

Meanwhile, the cyber-security industry is experiencing its own bubble bursting, albeit in much less dramatic fashion. As Reuters reported last month, investors are at last acknowledging the obvious: There are too many VC-bloated start-ups chasing too few clients, while unicorns are morphing into zombies struggling to find an IPO or other exit.

This situation may explain a recent flurry of press releases from cyber firms like Tenable, Cylance and Duo. The releases tout revenue growth and appear intended to assure anyone who will listen that “hey, we’re surviving the cyber shake-out just fine thank you very much.”

It’s hard to say for now which firms will be left standing at the end of 2018 but, for now, it’s clear the peak of the cyber-boom, when VCs would shower money on any company with blinky lights, is over. The investor uncertainty, though, is just one part of the cyber story. There’s also the more important question of whether all these companies have helped harden the country against hacking, and the answer appears to be yes.

Based on recent conversations with ordinary executives, I’ve found cyber-literary has shot up. While hackers are still getting through (they always will), managers and general counsels are finally attuned to the threat and doing something about it.

This change is also trickling down to more humble enterprises. I met a company this week called CyberSight, which offers free and low-cost ransomware protection to the likes of small businesses and county governments, and many of them are actually implementing it. This is a welcome change from a year ago when too many companies blew off cyber defense as an exotic affair they didn’t need.

So let’s celebrate cyber victories where we can find them. Finally, returning to crypto, don’t forget it’s tax time—if you bought or sold, here’s a plain English Q&A to get you through. Have a great weekend.

Jeff John Roberts

@jeffjohnroberts

jeff.roberts@fortune.com

Welcome to the Cyber Saturday edition of Data Sheet, Fortune’s daily tech newsletter. You may reach Robert Hackett via Twitter, Cryptocat, Jabber (see OTR fingerprint on my about.me), PGP encrypted email (see public key on my Keybase.io), Wickr, Signal, or however you (securely) prefer. Feedback welcome.

THREATS

Bye-bye little bots: Twitter users are losing tens of thousands of followers in the wake of a searing report about a “follower factory” that let people inflate their social media popularity with the help of bots, many of which were crafted by means of identity theft. A Twitter board member was among those who lost followers in the purge.

Apple and the FBI, it’s complicated: In the wake of a 2016 terrorist attack, media outlets (including Fortune) reported on bad blood between Apple and law enforcement over the iPhone maker’s encryption polices. Today, the two sides still don’t see eye-to-eye but are in many ways more friendly than you think.

Looming specter of Spectre: Sure enough, those scary Spectre and Meltdown viruses may be coming to a chip near you. Researchers have already found 130 malware samples that appear to have been built in order to exploit the worldwide chip vulnerabilities disclosed in January.

Netflix and Phish: When you have 118 million subscribers, many of them addicted to binge-watching, your service will be a popular target for scammers. A fake Netflix subscription email is making the rounds (again), threatening to cancel Netflix customers’ accounts if they don’t supply their credit card number. One guess what happens if you click.

Hey Hawaii, good call on canning that button pusher who kept confusing drills with real life. 

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ACCESS GRANTED

The robbery caper began in a Ruby Tuesday’s restaurant in Times Square, where Meza met his victim, who had earlier disclosed he was an early investor in Ethereum. The cryptocurrency was once worth pennies but last year soared to over $1,000.

— If you’re going to rob someone at gunpoint for their crypto-currency, for heaven’s sake, don’t transfer the funds to a popular exchange in your own name. Fortune obtained exclusive details about a crazy crypto heist in New York.

ONE MORE THING

Obligatory SuperBowl tidbit: Jeopardy host Alex Trebek chided his contestants over their complete and utter ignorance of football, a topic that regularly pops up in the weeks before the gig game. The show then trolled the players with a tweet, saying “Our contestants answered as many clues in this category as the @Browns had wins this season.”

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Don't Waste Your Time Trying to Hire a 'Tom Brady.' Here's a Better Way to Build a Winning Team

By Mattson Newell (@MattsonNewell), Client Relationship Partner at Partners In Leadership and expert and author on Breakthrough Communications, Global Human Resources, and Talent Development.

It’s easy to look at the dynasty that the New England Patriots have built and fall into the trap of trying to hire a Tom Brady. That surely, once you have that superstar in place, it will lead to championships, glory, and bonuses for everyone.

Not everyone remembers that before Brady was the superstar he is today, the sixth-round draft pick who was in a battle to even make the team. From there he was coached and developed. He learned to seize opportunities as they presented themselves. As they say, leaders are made, not born. The same can be said for superstars, too.

Instead of throwing your resources into hiring a superstar for your business, here’s a better way to build a winning team.

1. Develop the right people

The development trap that many leaders fall into is looking for whoever has the best results in the company and then plugging them into a leadership position or development track.

When a very successful SVP of Sales left a Fortune 500 organization, who do you think they tabbed to replace him? That’s right, the person with the highest sales numbers the year before.

You can guess what happened next. The former sales superstar who was excellent at selling and working with clients, struggled in his new SVP role working internally and overseeing the sales team. Within six months he was out the door and the leader was again looking for a new SVP.

Top producers do not always translate into our top leaders. When deciding who the right person is to develop as a leader in your organization, consider the whole person instead of just focusing on numbers and results.

2.  Develop the right plan

Many organizations only put a plan in place to develop their people when they find out a leader is headed out the door. Unfortunately, that is too late.

Succession planning and leadership development should be a constant, thriving, evolving part of your organization at all times, not just when a leader is leaving. It is important to put systems and processes in place to identify, develop, and build bench strength.

Jim Skinner, former CEO of McDonald’s, was known to tell managers: “Give me the names of two people who could succeed you.” This was one way he worked to manage succession planning.

3. Develop the right skills

In a survey conducted by Partners In Leadership, which involved more than 40,000 people from small start-ups to Fortune 50 organizations, over half of those surveyed said that their stated 2020 goal was either an aggressive stretch or a crazy stretch.

But stretch goals are attainable: the Seattle Seahawks won the Super Bowl in 2014 even though they were only two years removed from going 7-9.

What is key is that your team has the skills necessary to achieve a stretch goal. If your current players don’t have what it takes to win, set them up for success by identifying what skills they need. Then provide the right learning opportunities to develop their talent for sustainable results.

By instilling an empowered, continuous learning culture, you’ll be able to maintain a motivated, performance-oriented workforce that isn’t afraid to stretch outside their comfort zone.

Creating Results and Shaping Change

True, it is much less expensive to develop your good people than to go out and try to hire the already-established superstars. But there are more benefits to developing employees than upfront cost-savings.

Employee research consistently shows that career development opportunities are a leading indicator of employee engagement. In a recent study on employee retention, the most important aspect of a company’s reward and recognition program was employee development opportunities.

Having worked with thousands of employees in high-potential programs over the years, we have seen the impact engaged employees have on their companies–both immediately and long after their development, as they move on to significant leadership roles in their organizations.

Don’t fall into the trap of thinking that you need to hire the next ‘Tom Brady.’ Instead, look for the current ‘Tom Brady(s)’ on your team and develop them. Who knows, they might turn out to be your next superstars!

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Tencent-led group to invest $1.6 billion in menswear firm Heilan: sources

HONG KONG (Reuters) – Tencent Holdings Ltd is leading a deal to invest 10 billion yuan ($1.59 billion) in Chinese menswear group Heilan Home Co Ltd, upping a retail rivalry with fellow internet giant Alibaba Group Holding Ltd, sources with knowledge of the matter said.

China’s second-largest e-commerce company JD.com Inc and online clothing platform Vipshop Holdings Ltd will also be among the group that plans to acquire less than 10 percent of the company for 5 billion yuan, one source said.

Another 5 billion yuan would help set up an industrial investment fund to focus on deals that fit with Heilan’s business, the person said, requesting anonymity because they were not authorized to speak to the media.

Heilan had a market value of about $8.13 billion as of Monday, when it halted shares from trading, pending deal announcements.

Tencent, JD.com and Vipshop declined to comment. A Heilan spokesman was not immediately available to comment.

The proposed deal, which could be announced as early as Friday, extends a recent push by Tencent, China’s biggest social network and gaming company, into bricks-and-mortar retail to further compete with Alibaba.

Heilan which has clothing brands such as HLA and SANCANAL, has been a long-time partner of Alibaba’s online marketplace Tmall.

But last month Tencent, which has a market capitalization of $563 billion, said it would invest 4.2 billion yuan for a stake in Yonghui Superstores. It is also looking to take a stake in the China business of French supermarket retailer Carrefour.

The recent moves reflect a wider, long-running stand-off between Tencent and Alibaba, which have made competing investments in areas as diverse as bike-sharing apps, food delivery and gaming.

JD.com, in which Tencent is a top-10 investor, traditionally leads against Alibaba in online retail sales of electronics and home appliance products, but lags behind in the fashion business.

Tencent and JD.com last month jointly made an $863 million investment in Vipshop, in a bid to tap the country’s young female shoppers and gain access to consumer and transaction data to help them compete with Alibaba’s online payment platform Alipay.

Jiangsu-based Heilan was set up by Zhou Jianping, one of the richest people in China’s fashion industry, in 1997. It runs more than 5,000 stores, mostly in China, and recorded 12.5 billion yuan in operating income in the first three quarters last year, its website showed.

Reporting by Julie Zhu; Editing by Stephen Coates

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Singapore Airlines to boost digital investment to improve revenue, cut costs

SINGAPORE (Reuters) – Singapore Airlines Ltd will invest “hundreds of millions” of dollars in digital technology over several years as part of a broader transformation designed to remain competitive against global rivals, its chief executive said on Monday.

The investment is aimed at boosting revenue and reducing maintenance costs and travel delays, CEO Goh Choon Phong told media, adding that the carrier would tie up with four Singapore research agencies.

“Competition has become much more intense and we are very mindful that we need to reinvent ourselves and find new ways to distinguish (Singapore Airlines) from others in order to stay ahead of our competition,” he said.

Goh declined to provide more detailed figures or an exact timeline for the investment plans, which he said had already begun.

Airlines around the world are looking to harness financial benefits from their data collection to help lift revenue at a time of low ticket prices.

Other initiatives the premium Asian carrier has announced so far as part of the three-year transformation program include adding more seats to its Airbus SE A380s, shifting some routes to low-cost carrier Scoot and merging the finance teams of the flagship airline and its short-haul arm SilkAir.

The airline, like its Hong Kong-based rival Cathay Pacific Airways, has been struggling against mounting global competition from Chinese and Middle Eastern rivals and low-cost carriers, without domestic flights to underpin their earnings.

Singapore Airlines said it would invest in automated technology research to lower maintenance costs and decrease aircraft delays, under a collaboration with the Agency for Science, Technology and Research (A*STAR).

National University of Singapore (NUS) will aid the carrier in tackling other business challenges such as revenue management, where it plans to improve forecasting to better understand demand patterns.

The airline’s staff will also be invited to pitch digital ideas, with initial grants of S$5,000 being given to suggestions deemed worthy of further testing, Goh said.

Singapore Airlines could potentially boost earnings by S$800 million ($610.8 million) a year if it could successfully collect and monetize passenger data, Corrine Png, the CEO of transport research firm Crucial Perspective, forecast in a report published on Jan. 23.

“This will return Singapore Airlines to its glorious days of earning over S$1 billion net profit a year which would be a significant positive share price driver,” she said.

Singapore Airlines reported a S$360 million net profit in the financial year ended March 31, 2017.

($1 = 1.3097 Singapore dollars)

Reporting by Dewey Sim and Jamie Freed; Editing by Amrutha Gayathri

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Games developer Playtika to invest up to $400 million in Israeli tech

TEL AVIV (Reuters) – Mobile games developer Playtika Ltd said on Monday it was setting up a new business, which plans to invest up to $400 million in Israeli digital entertainment and consumer internet firms as well as games companies globally.

Playtika Growth Investments will target companies that are already profitable or near break-even and have proven business models and products, the company said, noting that portfolio companies will have access to Playtika’s marketing, analytics, technology and product teams.

Playtika, which has spent over $300 million buying more than 10 companies since it was founded in 2010, was acquired in 2016 by a Chinese private equity consortium led by Giant Network Group (002558.SZ) for $4.4 billion.

The Israel-based maker of casino-style games, such as Slotomania, for social networks has annual revenue of more than $1.1 billion and employs over 1,700 people in 10 countries. It has 20 million monthly active users.

Eric Rapps, managing director of Playtika Growth, told Reuters that a “very significant majority” of the $400 million will be invested in Israel.

The money will be invested from Playtika’s own funds over the next four years, with the first investment expected to be made within six to 12 months, Rapps said.

“We recognized that over the past eight years we have unique insights into how to grow an online business,” he said, adding that Playtika itself grew from a very small startup.

Reporting by Tova Cohen; Editing by Steven Scheer and Louise Heavens

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