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The web was more like a set of tin cans and a thin wire back then, so news media upstarts had trouble being heard. With high broadband penetration, the web has become a fully realized consumer medium where pages load in a flash and video plays without stuttering. With those pipes now built, we are in a time very similar to the early 1980s, when big cities were finally wired for cable. What followed was an explosion of new channels, many of which have become big businesses today.

The same holds true for digital. Organizations like BuzzFeed, Gawker, The Huffington Post, Vice and Vox, which have huge traffic but are still relatively small in terms of profit, will eventually mature into the legacy media of tomorrow.

More and more, it’s becoming apparent that digital publishing is its own thing, not an additional platform for established news companies. They can buy their way into it, but their historical advantages are often offset by legacy costs and bureaucracy.

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“In the United States the smoking rate is at a new low. Not so in China; it’s the world’s biggest consumer of cigarettes. As strange as it may seem, smoking is a strong cultural indicator that a Chinatown continues to serve a vibrant population of immigrants. A Chinese restaurant with a bunch of cooks smoking out back, or customers puffing while waiting for a table? Worth a try! It’s one that’s less likely to be Americanized.”

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Retailers and banks can also reduce risk by moving away from cards that use magnetic strips, which are easily faked. Many countries in Europe, Asia and elsewhere have already replaced magnetic strips with chips, which are harder to duplicate. Chip-based cards also require customers to enter a secure code before they can be used. That’s partly why the United States accounts for nearly half of all global credit card fraud, even though it generates only about a quarter of all credit card spending. American retailers, including Target, have resisted (foolishly, as it turns out) the introduction of chip-based cards because they would have to invest in new equipment to handle them. (Target now says it supports chip-based cards.)

No security measure will ever rid the economy of theft and fraud completely. But there is evidence that companies could do a lot more to protect data.

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