Peter Thiel, a leader in entrepreneurism and investment who made his career in Silicon Valley, has now said that he believes the Valley will no longer be monopolizing the tech industry moving forward.
The billionaire Thiel, who launched PayPal, was an early investor in AirBnB and Facebook, and launched software company Palantir Technologies, spoke at the Future Investment Initiative in Riyadh, Saudi Arabia last week and shared some of his opinions on the future of the tech world, specifically its future outside the small pocket of California we know as Silicon Valley.
“I have been investing in the technology space — entrepreneur and investor over the past 20 years in Silicon Valley — and within the area of IT, it has for the last 10, 15 years in the US and the world been extremely centered on Silicon Valley,” he said at the event.
“I think there are a lot of reasons for that, but the question is, ‘Where is the growth going to happen the next 10 years?’ And what I would tend to think is that it will be more diversified from just Silicon Valley.”
Thus far, Silicon Valley has dominated the industry due to a large concentration of driven entrepreneurs and the abundance of mentors. Even now, California sees a hugely disproportionate percentage of venture capital deals made, despite rising competition throughout the world.
Per the most recent data coming out of the 2017’s third quarter, provided by the National Venture Capital Association and Pitchbook, show a huge gap between California-based companies and their competition. New York, who had the second highest number of deals made in Q3, with 188, only reached 32 percent of the number of deals closed in California in that same time, who had 580.
Here, it is easy to limit our view to companies based in the United States. Thiel, however, believes that the next wave of technology will be the product of a more global perspective.
“There was something very paradoxical about it all being in Silicon Valley, because after all these Internet companies are global in scope,” Thiel says. “They can be built anywhere. You just need some talented people, some capital, the right governance structures and so it was always this very odd question, why all the companies of this new global technology were built in one specific place.”
He went on to say that he believes China will be a big player in tech because of some up-and-coming companies that are moving into that space and doing creative work. Not only will things grow in China, but Thiel comments, “I don’t think there is a single other place, it is not a specific city or specific country, but I think in general there is much opportunity outside of Silicon Valley.”
Thiel’s opinions certainly strike a chord; it is strange that the tech world has been so focused on one small space in California considering the global scale on which the internet and tech operates. While there is surely competition in Silicon Valley, a broadening of horizons in the tech world will only lead to higher quality and more efficient product being released to the market.
Study finds 1,000 phrases that accidentally activate smart speakers
(TECH GADGETS) Don’t worry about accidentally activating your nosy smart speakers… unless, of course, you utter one of these 1,000 innocuous phrases.
It’s safe to say that privacy concerns, especially in today’s digital era, are unquestionably valid. With new video recording technology making it easier to identify people at a glance (whether they like it or not) and concerns that your smart speakers are eavesdropping on you, it may feel like you’re bordering on slightly paranoid around modern technology.
After all, even though there have been cases of smart speakers picking up on intimate conversations, there’s absolutely no risk of them overhearing private things without your consent, right? Even though it’s been documented that these devices — including Cortana, Alexa, Siri, and Google Home — have listened in relationship spats, criminal activity, and even HIPAA-protected data, you’re totally in the clear.
Oh yeah. The thing is, everything that gets broadcast into your smart speaker? There’s a completely random chance that someone back at headquarters may decide to sift through it in order to improve AI learning.
And while most of the time these conversations are totally benign, it doesn’t change the fact that a complete stranger is getting an earful of your private life. In fact, these transmissions? Are actually completely admissible in court, as several murder cases have already demonstrated. Their key evidence was none other than poor Alexa herself.
But wait, wait. These smart speakers can only get your information if you activate them, and that requires you to clearly enunciate their names. Right? Um. Not exactly. Even though you may think that you need to speak crisply into the speaker to activate it, it turns out that these devices are highly sensitive to any suggestion that you might be talking to them. It’s almost like your dog when you even remotely glance at his bag of doggie treats in the corner: one crinkle and Fido comes running, begging for some kibble and ready to serve you.
It’s the same for your smart speakers. As it turns out, there are over a thousand words or phrases that can trigger your device and invite it to start recording your voice. These can range from the perfectly reasonable (Cortana hearing “Montana” and springing to attention) to the downright absurd (Alexa raising her hackles over the words “election” and “unacceptable”). Well, crap. Now what?
It’s no secret that someone is listening in on your conversations. That’s been clearly documented, researched, dissected, and even accepted at this point. However, if you thought that they’d only listen to it if you gave them implicit permission by activating your device (which, to be fair, should not even count as permission in the first place), you were wrong.
So what’s a privacy-loving person to do? Just suck it up and try to choose between the lesser of two evils? On one hand, yes, these smart speakers are super convenient and can make your life easier. On the other?
Well, if you’re a fan of your privacy, then perhaps these devices aren’t meant for you. At this point, you’ve got little recourse. These companies will continue to use your data, and there’s nothing stopping them from spying on you. That is, unless you prevent them from doing it in the first place.
If you want to keep your private conversations private, either unplug your smart speaker when you’re not using it, or don’t get one in the first place. Otherwise, you’ll continue to give your implied consent that you’re totes cool with them butting in on your personal life, and they’ll continue to be equally totes cool with using it without your permission.
HEY needs to fix its issues to be the Gmail killer it claims to be
(TECH NEWS) You would hope that HEY, the paid email service, would launch without issues but it has a few. Let’s hope some of that money goes to fixing them.
Last week, we covered HEY–a new email service that seemingly has a lot to offer–and while we largely praised the service despite it being a paid client awash in a sea of free email options, not everyone is fully on board with HEY’s inimitable charm–at least, not yet.
Adam Silver, an interaction designer focused on user experience, had some criticisms of HEY–many of which he identified as “pretty surprising oversights.” Though Silver does mention that his overall opinion of the service is good, these oversights are the focus of his review.
“All of these things are really easy to fix,” amends Silver.
Another issue Silver highlights is the inbox (imbox?) sorting. As we mentioned previously, there are three locations for email: the imbox, the feed, and the paper trail, each of which serves a different purpose. The problem with this system is that organizing emails by only three overarching categories affords little flexibility; furthermore, Silver notes that the menu for accessing each folder leaves a lot to be desired from a design standpoint.
The feed is also the subject of Silver’s criticism in that it doesn’t function enough like a traditional inbox to the point that it is actually difficult to use. Especially given the feed’s purpose–to store newsletters and such in a free-scrolling manner–this is a hold-up for sure; coupled with the feed’s lack of notifications, you can see how this problem cripples the user experience without active attention to the ancillary feed inbox.
Lastly, Silver mentions that the name “imbox” is, well, stupid. “This is not a typo but it’s not good,” he says. “You need a really good reason not to keep things simple.”
This is actually a point that we initially glossed over in our overview, but it’s another instance of a company doing a little too much to stand out–and, in doing so, potentially disrupting the user experience. “Keeping it simple” by calling the delivery place for your email the “inbox” won’t sink your brand, and the name “imbox” is sure to, at best, annoy.
It’s important to reaffirm that HEY’s driving principle–accessible email that prioritizes your privacy and charges you a relatively nominal fee for doing so–is good, and that’s the tough part of any app’s development; should they choose to follow Silver’s lowkey advice and make a few tweaks, they’ll have a winning product.
Live captioning via AI is now available for Zoom, if a little limited
(TECH NEWS) In order to be more inclusive, and improve the share of information with your team, live captioning is a great option for your next Zoom call.
The ubiquitous all-father Zoom continues to prompt innovation–and in a time during which most companies are still using some form of remote communication, who can blame them? It’s only fitting that someone would come along and try to flesh out Zoom’s accessibility features at some point, which is exactly what Zoom Live Captioning sets out to accomplish.
Zoom Live Captioning is a Zoom add-on service that promises, for a flat fee, to caption up to 80 hours per month of users’ meetings via an easy-to-implement plugin. The allure is clear: a virtual communication environment that is more time-efficient, more accessible, and more flexible for a variety of usage contexts.
Unfortunately, what’s less clear is how Zoom Live Captioning proposes to achieve this goal.
The live-captioning service boasts, among other things, “limited lag” and “the most accurate [speech-to-text AI] in the world”–a service that, despite its sensational description, is still only available in English. Furthermore, anyone who has experienced auto-captioning on YouTube videos–courtesy of one of the largest technology initiatives in the world–knows that, even with crystal-clear audio, caption accuracy is questionable at best.
Try applying that level of moving-target captioning to your last Zoom call, and you’ll see what the overarching problem here is.
Even if your Zoom call has virtually no latency, everyone speaks clearly and enunciates perfectly, your entire team speaks conversational English at a proficient degree across the board, and no one ever interrupts or experiences microphone feedback, it seems reasonable to expect that captions would still be finicky. Especially if you’re deaf or hard of hearing–a selling point Zoom Live Captioning drives home–this is a problematic flaw in a good idea.
Now, it’s completely fair to postulate that any subtitles are better than no subtitles at all. If that’s the decision you’d like to make for your team, Zoom Live Captioning starts at $20 per person per month; larger teams are encouraged to contact the company to discuss more reasonable rates if they want to incorporate live captioning across an enterprise.
Nothing would be better for speech-to-text innovation than being wrong about Zoom Live Captioning’s potential for inaccuracy, but for now, it’s safe to be a little skeptical.
Women-owned businesses make up 42% of all businesses – heck yeah!
Supreme Court okays trademarking for ‘generic’ name URLs
How to increase website engagement
Study finds 1,000 phrases that accidentally activate smart speakers
Idea: Color-coded face masks as the new social contract to combat COVID-19
HEROES Act could increase unemployment stimulus benefits, add return to work bonus
LinkedIn: New retargeting options expand your marketing efforts
A closer look at the HEROES act, and who stands to benefit the most
The future of quantum computing is “Azure” bright and you can try it
The Apple Watch isn’t just a way to ignore calls, it could save your life
Anti-surveillance mask – creepy, ingenious, or potentially illegal?
Amy’s Ice Cream founder on Austin’s business risks and rewards #WhyAustin
Turns out a lot of people are in between introverted and extroverted
P. Terry’s founder on the booming economy in Austin #WhyAustin
Ladies and gentlemen, the U.S. National Anthem
Our Great Partners
news neatly in your inbox
Subscribe to our mailing list for news sent straight to your email inbox.
Thank you for subscribing.
Oh boy... Something went wrong.
Opinion Editorials1 week ago
Managing bipolar disorder and what I wish my employers understood
Politics2 weeks ago
The White House pushes for $450 per week return to work bonus
Business News2 weeks ago
How well-meaning diversity and inclusion hiring practices could backfire
Opinion Editorials4 days ago
What to do when you can’t find your passion and you’re feeling lost
Business Marketing2 weeks ago
Can small businesses keep up as more big box brands offer $15/hr pay?
Tech News2 weeks ago
Data Dividend Project wants you paid for companies to use your data
Business Marketing2 weeks ago
Apple doesn’t push product placement. What can you learn from them?
Social Media1 week ago
Well established Pinterest has a new competitor, Google Keen