Good morning, it’s federal Budget day. We’re expecting a handful of tech, science and/or climate initiatives to be announced tonight, but before Mr Chalmers opens his wallet, we should get up to date with what else is happening in the tech world.
1. Fitbit in hot water over warranty claims, again
The ACCC has instituted Federal Court proceedings against Google-owned Fitbit for allegedly making false or misleading representations to consumers about their consumer guarantee rights after their wearable devices malfunctioned. It is alleged that between around May 2020 and February 2022, Fitbit made false or misleading representations to consumers claiming they would not be entitled to a refund unless they returned a faulty product within 45 days. These proceedings are separate from action the ACCC took against Fitbit in 2018.
2. Medibank hack analysis
Earlier this month, Medibank disclosed a ‘cyber incident’. That ‘cyber incident’ quickly turned to a ‘breach’ and now we’re at the hack stage of the aftermath. The Guardian, among others, have posted an analysis of what actually went down. Per Josh Taylor with The Guardian, The attack is believed to have begun when a person with high-level access within Medibank’s systems had their credentials stolen by a hacker, who then put them up for sale on a Russian-language cybercrime forum acting as a credential broker. The credentials were then reportedly bought, and another hacker or group of hackers infiltrated Medibank’s network and established two backdoors, including one for redundancy in case it was discovered.
3. It’s a beautiful day
Before you could stream your favourite album at will on the likes of Spotify or Apple Music, there was iTunes. In an experimental release strategy, U2’s Songs of Innocence was uploaded to the iTunes libraries of users across the world, resulting in a wave of backlash. Eight years later, the band’s frontman Bono has finally apologised for the havoc his project wreaked.
4. Zuckerberg asked to ‘focus on Facebook’, not the metaverse
One of Meta’s big investors wants it to focus on AI, not the metaverse. In an open letter, brought to our attention by The Verge, Altimeter Capital’s Brad Gerstner told Mark Zuckerberg he should start caring about Facebook again. He wrote: “Like many other companies in a zero rate world — Meta has drifted into the land of excess — too many people, too many ideas, too little urgency. This lack of focus and fitness is obscured when growth is easy but deadly when growth slows and technology changes.” We’re big supporters of this guy (never heard of him until today, but he wants the metaverse gone and so do we).
We just published an Open Letter to Mark Zuckerberg and the Meta Board urging them to tighten their belt and sharpen their investment focus. The plan would 2x annual FCF to $40B, double down on AI, and put a cap on metaverse related investments. https://t.co/jcvyRyWMjg
— Brad Gerstner (@altcap) October 24, 2022
5. YouTube doesn’t want you on TikTok
YouTube is getting a slight makeover to keep you engaged on the video platform. The new look includes improved playback options, a better mechanism for scrubbing through video, and the ability to pinch and zoom. The update is rolling out today to iOS and Android devices, with some features also coming to the web player.
BONUS ITEM: Here’s a fun little browser game if you get bored at your computer today.
fuck it, drive on the moon https://t.co/4bmnPx2WsI
— ruby innes (@rubyinnes) October 24, 2022
Have a good one!