Connect with us

Tech News

It’s time to break up the FAANG – most are no longer tech

(TECH NEWS) The majority of Americans have missed the evolution of FAANG companies away from tech – they’re now media.

Published

on

faang stocks

Social media companies don’t want to be called “media” because the rules are different, but we have defined them in full to make it clear that several companies that started out as tech are now firmly in the media category.

Any company whose primary function is serving up content is a media company.

Any company whose primary function is hardware or software is a tech company.

Facebook, Apple, Amazon, Netflix, Google are referred to in one lump as the “FAANG,” particularly when discussing stocks. Companies in the FAANG grouping are blurring the lines between the tech and media categories despite their determination to remain tech-based organizations.

Why the desperation to be considered tech and not media? One word: regulations.

Media companies are held to a different standard because they are responsible for the content they create and distribute. However, FAANG companies that were founded to create/sell technologies and platforms are taking society into new territories indistinguishable between platform and content creation.

Whenever these companies make the tiniest movement, we all move with them whether we like it or not.

While FAANG companies may not be officially held to media company standards, it is up to analysts, talking heads on tv, Wall Street, and the public to reconsider what’s tech and what’s media.

One way we can make this distinction is how we treat FAANG stocks (and whether or not the acronym survives much longer).

One plaguing question is – if FAANG companies are slipping into areas of content creation and media, are their investors being misled?

The most prime example is Facebook. The past two years have shown us there is federal and international interest in regulation discussion after the issues of privacy and fake news. We’re feeling the consequences of social media, and whether or not judiciary bodies take action, Facebook will be forced to take a good hard look at itself. And where will this leave investors in the long-term?

Apple is, by definition, a tech company. No question.

Amazon is no media company, and while some may argue their primary function is retail (despite offering AWS, Echo, etc.), we would still classify them as tech.

Netflix is quite clearly a media company, a platform that serves up content (a glorified cable network only available off of cable).

Google ranks content based on an algorithm and decides what is most relevant and important to you, which is another way of saying they serve content. Alphabet is a tech company (for now), but just Google, the search engine, is not.

The FAANG stocks are based in strong ecosystems. They’ve grown exponentially in one or two decades. Are we going to overestimate their relevancy in the next 5-10 years? Is it possible that, in the future, FAANG investors will have their money in very different versions of these companies? As the discourse shifts towards regulation, the investment risk shifts as well.

FAANG stocks certainly have their appeal—like being a invited to the global party. Perhaps investors and cable news analysts will continue riding the hype train. But like in technology and economics, certainty isn’t guaranteed. It is better to look ahead and hold ourselves accountable as we’d like/hope these tech giants will do on their own.

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!

Staff Writer, Allison Yano is an artist and writer based in LA. She holds a BFA in Applied Visual Arts and Minor in Writing from Oregon State University, and an MFA in Fine Art from Pratt Institute. Her waking hours are filled with an insatiable love of storytelling, science, and soy lattes.

Tech News

Silicon Valley created tech for your family that’s too addictive for theirs

(TECHNOLOGY) Tech inventors are big on innovating and advancing tools, but a growing parenting trend in tech circles seems hypocritical.

Published

on

tech addiction in children

I consider myself an older Millennial. I was slowly but surely introduced to technologies as they became mass-marketable, but they didn’t affect every moment of my day-to-day life. I learned how to use computers in elementary school, I chatted on AOL as a preteen, and when I was 16, my parents gave me my own cell phone “for emergencies.” I promptly dropped it under the car seat, where it remained for a year, before I or my parents even noticed that it was missing.

In less than a generation, our relationship to cell phones has transformed completely. For one thing, my first cell phone didn’t have a touch screen. It didn’t have an internet connection. Hell, for an entire year, I didn’t even use the damn thing.

Fast forward to 2018, when your children can learn to use an iPad at the same time that they learn to use a toilet.

Interestingly, the tech whizzes who designed much of the technology that now pervades nearly every moment of our lives seem wariest of the negative impact screen time might have on kids. The NYT reports that the trend amongst Silicon Valley parents is to severely limit or even ban cell phone use by their children.

Parents in all echelons of the tech industry are limiting their kids’ exposure. Steve Jobs kept iPads out of the hands of his young children. The Gates offspring didn’t receive cell phones until high school (just like me, in 2001), and Tim Cook discourages his nephew from using social networks.

These concerned parents describe the addictive potential and negative consequences of screen time in increasingly pessimistic terms.

Athena Chavarria, a former Facebook employee, believes that “the devil lives in our phones and is wreaking havoc on our children.”

Chris Anderson (yes that Chris Anderson), former editor of Wired and founder of GeekDad, says that when it comes to screens, “On a scale between candy and crack cocaine, it’s closer to crack cocaine.”

Parents are even making contractual agreements to make sure their kids don’t use screens while under the supervision of their nanny or babysitter.

Like basically every human idea or invention ever, connected, screened devices reveal that our ability to create new technologies far outpaces our ability to understand the consequences – positive or negative – of that tech.

Those closest to the situation – the inventors themselves – are often the first ones to sound the alarm when they realize that their hard-won advancements may not have been such a great idea after all.

Said Chris Anderson of the addictive nature of cell phones, “We thought we could control it. And this is beyond our power to control.”

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!

Continue Reading

Tech News

Amazingly fun tech toys that are secretly educational

(TECHNOLOGY) STEM toys for children are fun *and* educational – here are some that have caught our eye.

Published

on

STEM tech toys for kids

There’s a new trend amongst startups – and amongst kids’ toys: educational playthings that teach your little ones STEM skills like programming and coding.

Toys that double as learning tools are nothing new, but digital, connected technology still is, and so is the idea that your toddler can get a leg up in the tech industry by getting an early start.

Parents, universities, and economists seem concerned that acquiring STEM skills will soon be the only way to guarantee a good job, despite reports from the U.S. Census Bureau that 3 out of 4 STEM majors end up in non-STEM fields anyway.

So if your kid is more into, say, baseball or dancing than computers, you might be wasting the pretty pennies these high-powered educational toys will cost you.

Kids, with their alarmingly short attention spans, are as likely to toss these toys back into the toybox as any other. But if your wee one seems to have a knack for all things technical – or if you’d just rather see them learn how to build a device than passively stare at one all day – then check out TC’s guide to STEM toys.

Even though these toys are marketed towards the younger set, I found myself a little envious, wishing I could take a few for a test drive – especially since many of them are modern, high-tech reboots on old standbys from my childhood.

Lego’s Boost Creative Toolbox uses the same classic Lego blocks, but allows you to animate and program your creations.

Several products cross-market with some of my childhood favorites; Dash Robotics has teamed up with Mattel to make Jurassic World robots, and Kano makes a Harry Potter Coding Kit that teaches kids to program a wand that can interact with digital content. There’s even Electro Dough which is basically electrically-conductive Play-Doh that can light up and make sounds. I want!

In fact, a lot of the toys combine arts ‘n’ crafts with STEM lessons. Adafruits makes a marker with electronically conductive ink that can light up circuits and interact with computer programs, and an electronic pencil that synthesizes music. Root Robotic’s little bot can draw pictures and compose songs.

For the more straightforward tech nerds, Makeblock, Evo, Robo Wunderkind, and Wonder Workshop all make programmable robots – a big step up from the “artificially intelligent” Furby’s of my childhood. Sphero’s Bolt is a ball-shaped robot, while Airblock makes a programmable hovercraft.

There’s the Pi-top Modular Laptop that teaching kids coding, and there are even opportunities for kids to build their own electronics; Kano offers a build-it-yourself computer.

The holidays are just around the corner – but whether STEM educational toys will be the next Tickle Me Elmo remains to be seen.

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!

Continue Reading

Tech News

A deepfakes creator for text so realistic it can’t be made public yet

(TECHNOLOGY) You know about video deepfakes, but the technology exists for doing convincing deepfakes for text. It’s so good that they aren’t ready to release it to the public yet…

Published

on

deepfakes text

Artificial intelligence is being used to complete more and more human tasks. But as of right now, news stories you read online – including all the articles here on American Genius – have been written by real human beings.

Until recently, even the most intelligent computers couldn’t be trained to recreate the complex rules and stylistic subtleties of language. AI-generated text would often wander off topic or mix up the syntax and lack context or analysis.

However, a non-profit called OpenAI says they have developed a text generator that can simulate human writing with remarkable accuracy.

The program is called GPT2. When fed any amount of text, from a few words to a page, it can complete the story, whether it be a news story or a fictional one.

You already know about video deepfakes, but these “deepfakes for text” stay on subject and match the style of the original text. For example, when fed the first line of George Orwell’s 1984, GPT2 created a science-fiction story set in a futuristic China.

This improved text generator is much better at simulating human writing because it has learned from a dataset that is “15 times bigger and broader” than its predecessor, according to OpenAI research director, Dario Amodei.

Usually researchers are eager to share their creations with the world – but in the case, the Elon Musk-backed organization has, at least of the time being, withheld GPT2 from the public out of fear of what criminals and other malicious users might do with it.

Jack Clark, OpenAI’s head of policy, says that the organization needs more time to experiment with GPT2’s capabilities so that they can anticipate malicious uses. “If you can’t anticipate all the abilities of a model, you have to prod it to see what it can do,” he says. “There are many more people than us who are better at thinking what it can do maliciously.”

Some potential malicious uses of GPT2 could include generating fake positive reviews for products (or fake negative reviews of competitors’ products); generating SPAM messages; writing fake news stories that would be indistinguishable from real news stories; and spreading conspiracy theories.

Furthermore, because GPT2 learns from the internet, it wouldn’t be hard to program GPT2 to produce hate speech and other offensive messages.

As a writer, I can’t think of very many good reasons to use an AI story generator that doesn’t put me out of job. So I appreciate that the researchers at OpenAI are taking time to fully think through the implications before making this Pandora’s box of technology available to the general public.

Says Clark, “We are trying to develop more rigorous thinking here. We’re trying to build the road as we travel across it.”

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!