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Bing and Yahoo Search Outage Caused by Faulty Code Update

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On Friday, January 2nd, a few of Microsoft’s online services, including Bing and Live.com, suffered outages for about 20 minutes. Yahoo Search, which is actually powered by Bing under a 10-year deal announced in 2009, also went offline. Given the current trend of hackers taking down online services, it might be tempting to conclude that Microsoft’s services were once again victims of a DDOS attack. However, the reality is a lot more simple, if not more embarrassing. Microsoft pushed out a buggy code update that took down Bing and Yahoo Search.

Also read: Google Project Zero Reveals Windows Vulnerability Before Microsoft Fix

Bing, Yahoo, Siri, and Others Affected

Microsoft confirmed the outage around 3:30 PM Eastern Time, stating:

“This morning Microsoft experienced a brief, isolated services outage which has now been resolved. Our apologies for any inconvenience.”

About an hour later, Yahoo also offered a statement:

“We are aware that Yahoo Search is unavailable to users. Our engineers are working to restore the service at the earliest.”

While Google is widely the most popular search engine, Bing is used in a surprising number of places. As mentioned above, Yahoo Search relies on Bing, and the outage made Yahoo Search unavailable. Apple’s mobile assistant Siri and Windows Phone’s Cortana also rely on Bing for web searches, and as a result, were also affected.

Some users took to social media to report difficulty accessing other Microsoft sites, including Office Online and Live.com – Microsoft’s site for Hotmail and Outlook email.

Microsoft’s engineers scrambled to fix the update, but the rollback procedure failed. As a result, the company had to shut down groups of linked servers to return to a point where everything worked again. Even after Bing was back online, Yahoo Search continued to have issues due to a backlog of search requests.

All services have now been restored. Seems like a buggy update can cause just as much of a headache as Lizard Squad’s DDOS.

Yahoo image from Yahoo.com; other images from Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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I've always been interested in the latest stuff in science and technology, and I'm currently a freshman undergraduate electrical engineering student at the University of Texas at Austin.




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Ford, BMW, GM, Renault – Connecting the Roads via Blockchain

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A collection of the world’s biggest car firms have launched an initiative looking into how blockchain will change the way we deal with transport.

The Mobility Open Blockchain Initiative (MOBI) aims to:

“…explore blockchain for use in a new digital mobility ecosystem that could make transportation safer, more affordable, and more widely accessible.”

This consortium of industry giants accounts for 70% of global vehicle production between them; the fact that they’re all pouring time and resources into blockchain could be a strong portent for the technology.

Also joining the group are tech giants IBM and Bosch while the cryptocurrency industry is strongly represented with IOTA and VeChain offering their expertise to the venture.

The group’s many projects will include, but are not limited to: research related to autonomous payments between smart vehicles; secure vehicle and data tracking; car sharing using both human and driverless vehicles, and live data markets which track fuel prices, congestion levels and pollution output.

In short, the major car and tech firms are now getting in on something that crypto firms have been working on for years. It’s probably a wise business decision by the car industry, as fossil fuel reserves dwindle and electric vehicles slowly start to take over.

But this isn’t the first we’ve heard of such moves by the motor industry. Renault launched their own initiative into blockchain tech in the recent past, while Toyota instigated their own investigations into blockchain tech just last year.

Recently, Ford announced plans to use blockchain technology to allow drivers to communicate and transact on the roads, and the MOBI initiative follows strongly in that vein.

Buy Your Way Into the Fast Lane

A patent was filed by Ford on March 27th, 2018 which details their plans to implement vehicle-to-vehicle cooperation and automated adaptive cruise control. The patent was titled: ‘Vehicle-to-vehicle cooperation to marshal traffic’, and sets out Ford’s plans to connect the roads under one network.

All of this would be helped along by blockchain technology; specifically when it comes to vehicle-to-vehicle communication.

Under Ford’s plans, drivers connected on the network would be able to transact with each other instantly using their proposed CMMP tokens.

If driver A needs to get to work in five minutes, but driver B isn’t in any particular hurry, then driver A can pay driver B to allow him access onto a faster lane.

The patent states:

“The CMMP system operates with individual token-based transactions, where the merchant vehicles and the consumers’ vehicles agree to trade units of cryptocurrency (sometimes referred to as ‘CMMP tokens’). The CMMP tokens are used to validate and authorize a transaction in which, at consumer vehicles’ request, the merchant vehicles either occupy slower lanes of traffic themselves, or allow the consumer vehicle to merge into their own lane and pass as necessary.”

The process could be as broad or specific as required, with specified amounts of tokens being paid for specific amounts of time. The patent goes on to state:

In some examples, the time allotted to the request of the consumer vehicle is based on the number of CMMP tokens chosen by the consumer vehicle to be spent at that particular time. For example, a driver of a consumer vehicle who is running late for an appointment may request to pass any participating merchant vehicles for a duration of 10 minutes on a particular road or highway for 60 CMMP tokens, at a rate of 10 seconds preferential access per token.”

In what the patent refers to as ‘herding’, cars would essentially be able to negotiate with each other and sort themselves out according to their immediate priorities.

The system would be helped by constant data tracking via blockchain, where cars are constantly fed with up to date real world data such as congestion levels, locations of closed roads and roadblocks, traffic light patterns, and even nearby fuel and amenity prices.

Interestingly, the MOBI initiative press-release mentions many of the same topics outlined in the Ford patent from just a few months ago.

Roads on a Blockchain

The entry of blockchain into disparate and unusual industries is becoming a weekly event; everybody can point to at least one industry and say: ‘They’re using blockchain for that too!?’

In that regard, the future is already before us, and now we’re just watching them iron out the kinks.

Rich Strader of the Ford Motor Company seems decided that blockchain is the way things are going to go. He said, as part of the MOBI press release:

We believe blockchain will transform the way people and businesses interact, creating new opportunities in mobility. We look forward to working together with our industry colleagues as part of MOBI to set the standards for the mobility ecosystem of tomorrow.”

The global director of Advanced Engineering at the Groupe Renault, Sophie Schmidtlin, was similarly convinced of the need to investigate blockchain’s possibilities on the road. She said:

Blockchain technology is by essence decentralized, and its full potential needs to be assessed by working in an open ecosystem. That is why it is natural for Groupe Renault to take part in the MOBI consortium. This consortium will be a great opportunity to share and learn about the possibilities that can be opened by the Distributed Ledger Technology, applied to the automotive ecosystem. Ultimately, we aim to work together to define future standards and use cases that will make an easier everyday life for our customers.”

The rapid acceleration of blockchain technology into our everyday lives is as novel as it is scary; as exciting as it is ominous. At this point, nobody knows for sure what the world will look like in years to come.

Patents come and go, and some highly promising patents get forgotten about completely – likewise for industry consortiums.

But while nothing has been set in stone just yet, all the signals are pointing towards blockchain technology being a big part of our future – on the roads and on the exchange.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 11 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Walmart’s Flipkart Deal: The Dawn of a New Day in India

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It’s the dawn of a new day in India, particularly cross-border investment, thanks to Walmart’s groundbreaking controlling stake in Bengaluru-based e-commerce darling Flipkart. Walmart has tried for years to no avail to enter the South Asian country, until now.

As a result of the deal, Walmart now has five seats on the online retailer’s board and is poised to play an influential role on the direction of the company — including a possible Flipkart IPO — setting the tone for further investments into the region in the interim.

It’s $16 billion deal values Flipkart at a whopping $21 billion and helps the Arkansas-based big-box retailer to compete more fiercely with Amazon, considering that the integration goes smoothly. Walmart has chosen a controversial target company to kick things off. Flipkart has been at the center of a saga ironically surrounding a previous cross-border investment.

Amazon is fighting back, however, as evidenced by it reaching into the belly of western India including Gujarat’s Bhuj, where some residents don’t even have online access. Amazon is taking an Etsy-like approach there with a focus on handmake craft items that are unique to this corner of the world.

No doubt corporations around the world have it on their radar as a possible harbinger of more cross-border investment activity to unfold in the region.

Gopal Jain of Mumbai-based private equity firm Gaja Capital told The Financial Times: “India continues to be perceived in global boardrooms as a tough place to do business in.” But he also said that as a result of this deal, global executives have gone from “being on the heels to being on the toes.”

India’s Cross-Border Investment

The overhaul of India’s international investment has been two decades in the making. And while India Prime Minister Narendra Modi says his administration has opened the doors to foreign investment, there still hasn’t been much evidence of that. For instance, cross-border M&A into India totaled $14.5 billion last year, lagging the performance of other developing countries including Brazil and China by as much as 50%, as per Dealogic data cited in the FT.

Indeed, the last time that a deal of anything close to the size of Walmart’s Flipkart acquisition was more than a decade ago in the telecom space when Vodafone took a majority position in Hutchison Essar. That deal left a sour taste in the mouths of would-be pursuers given hostile tax environment in which Vodafone was forced to operate.

Prime Minister Modi has the opportunity to prove to the rest of the world that India indeed is open for investment. If the Walmart deal can somehow help to shake the stigma that is attached to foreign investment into India, as evidenced by the “tax terrorism” that’s been attached with the region, it, in fact, could reflect the dawn of a new day for cross-border M&A in India.

Feature image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 16 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.




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Netflix Shares Surge After Hours amid Record Growth in Subscriptions

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Netlix Inc. (NFLX) has proved it can raise prices and still attract a record number of new users. The Los Gatos, California-based streaming service added 7.41 million customers in the first quarter, smashing analysts’ forecasts by about 1.7 million.

Netflix Earnings

In addition to adding a record number of subscribers, Netflix posted per-share earnings of 64 cents on revenue of $3.7 billion. Analysts in a consensus estimate called for earnings of 64 cents per share on sales of $3.69 billion.

International streaming dominated subscription growth with a net gain of 5.46 million new users. Europe and Latin America were largely responsible for the better than expected growth. U.S. additions totaled 1.96 million.

Netflix succeeded in adding new subscribers even as it hiked the price of its streaming service, a sign the company was delivering desirable content. In addition tot he 700 titles planned for release this year, the company is investing billions into original content. Moving to in-house production will allow Netflix to save money by avoiding hefty markups charged by rival studios.

After falling 1.2% on Monday, share prices spiked 5.2% in after-hours trading. At $323.70 per share, the company should surpass $140 billion in market cap at the start of trading on Tuesday. That’s a 600% increase since 2014.

Share prices are recovering after a difficult stretch for so-called FAANG stocks, an abbreviation that represents Facebook, Apple, Amazon, Netflix and Google-parent Alphabet. FAANG investments lost more than $320 billion over a three-week stretch ending Apr. 2.

At the close:

Dominance of Over-the-Top Content

Netfix has established a dominant position in the market for over-the-top content, or OTT, which generally refers to internet-based streaming services. Cord cutters in the U.S. market alone topped 22 million between 2016 and 2017, bringing the total number of consumers without pay TV to about 57 million.

High-speed internet is not only disrupting traditional media, it is destroying it. This extends far beyond the entertainment segment to also include broadcast news and other mainstream media outlets.

OTT content could be worth $62 billion by 2020, putting companies like Netflix at the top of the heap for investors looking for promising plays during the tail end of the bull market.

The success of Netflix has spawned several paid and free alternatives, including emerging juggernauts like Amazon Prime Video, Hulu and Sling TV. Traditional media companies like HBO have also adopted the subscription streaming model.

As cord-cutting continues, price elasticity of demand could grow for streaming services. In other words, companies can charge more for their service without fear of lost revenue. That was certainly the case with Netflix during the past quarter.

 

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 458 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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