Online privacy doesn’t exist. It was lost years ago. And not only was it taken, we’ve all already gotten used to it. Loss of privacy is a fundamental tradeoff at the very core of social networking. Our privacy has been taken in service of the social tools we so crave and suddenly cannot live without. If not for the piracy of privacy, Facebook wouldn’t exist. Nor would Twitter. Nor even would Gmail, Foursquare, Groupon, Zynga, etc.
Quarterly earnings suffered at major technology and telecoms companies in part because of demand for gadgets made by Apple, one day after core suppliers to Apple savored strong earnings results posted by the iPhone and iPad maker on Tuesday.
Netflix’s fourth-quarter revenue outpaced Wall Street’s expectations as the video rental website reversed subscriber losses to sign up more than 600,000 new U.S. customers in the period, pushing its shares up. Netflix posted a 47 percent leap in fourth-quarter revenue to $876 million, outpacing an average forecast for $857.9 million, according to Thomson Reuters I/B/E/S.
RIM’s new CEO Thorsten Heins, who joined RIM in 2007 and previously served as a chief operating officer, said during a conference call that he would hone the current strategy rather than abandon it. “I don’t think that there is some drastic change needed. We are evolving … but this is not a seismic change,” Heins said. RIM’s U.S.-traded shares tumbled as investors wondered whether Heins could reverse the BlackBerry maker’s decline, closing the day down 8.5 percent.
The English homepage of Wikipedia went dark and Google’s search page ran the logo “Tell Congress: Please don’t censor the web!” in protest of legislation designed to stop copyright piracy but the free online encyclopedia says “could fatally damage the free and open Internet.” Big tech names including Facebook and Twitter declined to participate in protests of the House of Representatives’ Stop Online Piracy Act and the Senate’s PROTECT Intellectual Property Act, despite their opposition to the legislation, unwilling to sacrifice a day’s worth of revenue and risk the ire of users.
Online shoe retailer Zappos told customers this weekend that it has been the victim of a cyber attack affecting more than 24 million customer accounts in its database. The popular retailer, which is owned by Amazon.com, said customers’ names, email addresses, billing and shipping addresses, phone numbers and the last four digits of credit card numbers and scrambled passwords were stolen. The company, which is well known for its customer service, said due to the high volume of customer calls it is expecting it will temporarily switch off its phones and direct customers to contact via email.
Microsoft has put its talks with media companies about an online subscription service for TV shows and movies on hold, according to people familiar with the discussions. The company had been in intense talks with potential programming partners for over a year and was hoping to roll out the service in the next few months. But it pulled back after deciding that the licensing costs were too high for the business model Microsoft envisaged, the sources said. Microsoft is still working to distribute TV shows over the Web, focusing on delivering programming via its Xbox gaming system to existing cable subscribers.
Samsung Electronics, the world’s top maker of memory chips and smartphones, reported a record quarterly profit, aided by one-off gains and best-ever sales of high-end phones. The South Korean firm posted 5.2 trillion won ($4.5 billion) in quarterly operating profit, beating a consensus forecast of 4.7 trillion won by analysts surveyed by Thomson Reuters I/B/E/S. Samsung, which surged past Apple as the world’s top smartphone maker in the third quarter, only entered the smartphone market in earnest in 2010, but its handset division is now its biggest earnings generator.
Twitter revamped its website to make the microblogging service easier to use and to help companies better showcase their brands. The new version of Twitter features a redesigned look that the company hopes will make it easier to find interesting content on the service, as well as technological improvements that it said will speed up the service. It also features a revamped profile page, in which a company can highlight specific feature, such as videos or photos. Previously, the profile pages displayed a chronological list of the company’s most recent Tweets.
Verizon Wireless plans to pay $3.6 billion for wireless airwaves from a venture of cable companies Comcast, Time Warner Cable and Bright House Networks. Comcast said that the deal represented a 64 percent premium over the $2.2 billion price the cable consortium paid in 2006 for the wireless spectrum being sold to Verizon Wireless.