Tag Archives: Used

SoftBank's Vision Fund in talks to invest $1.5 billion in Chinese used car platform: sources
February 2, 2019 6:01 am|Comments (0)

HONG KONG/BEIJING (Reuters) – The SoftBank-led Vision Fund is in talks to invest up to $ 1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said.

That would mark the latest Chinese deal by the mammoth $ 100 billion investment fund as it looks to expand in the world’s No.2 economy, and would come after it invested 460 million euros in German used car dealing platform Auto1.

The fund is likely to invest up to $ 1.5 billion in Guazi in a deal that would value the firm at $ 8.5 billion before the investment, according to one of the sources, who had direct knowledge of the situation.

The two sources, who were not authorized to speak to media, also said the Vision Fund had in the past few months held talks with Guazi’s direct rival, Renrenche, which is backed by Chinese ride-hailing firm Didi Chuxing.

Guazi, a consumer-to-consumer used car trading platform founded in 2014, is backed by Chinese internet giant Tencent and Sequoia Capital China. Its talks with Softbank were first reported by the Financial Times late on Friday.

The Vision Fund and Renrenche declined to comment. Guazi did not respond to a request for comment. Japan’s Softbank was not immediately available for comment.

The Vision Fund, the world’s largest private equity fund after raising more than $ 93 billion in 2017, has previously made investments in firms such as ride-hailing company Uber Technologies Inc and shared-office space firm WeWork.

China’s used car market has continued to grow even as overall auto sales declined last year for the first time since the 1990s.

Used sales rose 11.5 percent in 2018 from the year before to 13.82 million vehicles. The total value of these transactions was 860.4 billion yuan ($ 127.61 billion), according to the China Automobile Dealers Association.

China’s state planner has said the country would aim to loosen restrictions on the second-hand auto market, with “appropriate” subsidies provided to boost rural sales of some vehicles.

Reporting by Julie Zhu in Hong Kong and Yilei Sun in Beijing, additional reporting by Junko Fujita in Tokyo; Editing by Joseph Radford


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Facebook Used Games to Make Money off Kids Without Their Parents’ Permission, Unsealed Documents Show
January 26, 2019 12:37 am|Comments (0)

Facebook knew children were spending money in games without getting parental consent and the company did nothing about it, according to newly unsealed court documents from a 2012 lawsuit.

More than 100 pages of private Facebook documents were released following a request by the Center for Investigative Reporting and shed light on Facebook’s tactics. For years, the company was aware that children were playing games on accounts tied to a credit card and were, in some cases, unknowingly racking up thousands of dollars in bills by simply clicking within a game to get new abilities or upgrades.

The company ignored a plan developed by an employee in 2011 that would curb children from spending money without a parent’s permission.

The more games children played, the more Facebook’s revenue grew. When angry parents saw their credit card bills and in some cases reported not even receiving a receipt, they found it difficult to get their money back from Facebook, so they turned to credit card companies, the Better Business Bureau and finally, a lawsuit.

While the documents are old, they shed light on Facebook’s past business practices as the company continues to be under immense scrutiny for its numerous privacy breaches. Facebook changed its refund policy around games in 2016 and now has a detailed site about how to handle payment disputes with developers. Additionally, a Parents Portal offers tips for parents about how their kids can stay safe online.

“Facebook works with parents and experts to offer tools for families navigating Facebook and the web. As part of that work, we routinely examine our own practices, and in 2016 agreed to update our terms and provide dedicated resources for refund requests related to purchases made by minors on Facebook,” the company said in a statement.


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ABC News used a fake image of Trump in the White House and is anything real?
January 26, 2017 1:50 am|Comments (0)



Fake news, “alternative facts” and now fake images? Boy, politics sure has gotten a lot more complicated these past few months.

The latest media source under fire is ABC News, who used a mocked up image of Donald Trump in the Oval Office to promote anchor David Muir’s interview with the president.

ABC News actually grabbed the image straight from a September 2016 article in The New Yorker, who created it to imagine how Trump’s first term would pan out.

ABC News cropped the photo and added its logo and the words “No questions off limits.” However, there was a telltale sign the photo illustration, created by Ji Lee, isn’t from Trump’s presidency. It’s the weather outside the window. Read more…

More about Business, Interview, New Yorker, Pics, and Abc News


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Is your data being used against you?
March 13, 2016 8:45 pm|Comments (0)


We’ve had several decades of platforms and apps collecting data about us – and in a heavyweight panel on Sunday at SXSW, the debate turned to how that data is being used to both make assumptions about us and alter the products and services we’re offered.

In the introduction, Ashkan Soldani referenced IBM’s development of software that was designed to ascertain whether individuals arriving into Europe from Syria were terrorists or refugees. Using multiple data sources the software creates a ‘terrorist score’ which determines the likelihood that someone is involved in terrorism activity.

And while the motivation behind this kind of tool is understandable, the potential for misuse or mistakes is clear.

data ethics

Nicole Wong, former U.S. Deputy Chief Technology Officer for the Obama administration, introduced the concept of negative selection algorithms, citing the case of a major university in the U.S. that changed its procedures for recruitment to its highly regarded computer science degree when it became clear the initial screening process had inadvertently discriminated against women.

Other examples of how data is (deliberately and unknowingly) changing both the content we see online and the products were offered includes Facebook’s patent on judging financial worthiness based on your social graph and a study that showed that women were less likely to be shown Google ads for the highest paying jobs.

All the panelists acknowledged the huge challenges of addressing these kinds of issues and the lack of a definitive answer to solving them. Legislation would likely prove to be ineffectual, since the landscape is changing so rapidly, we certainly don’t even know the full picture of what we need to legislate against.

Companies could work harder to examine their systems and processes but sometimes seemingly benign processes can be causing problems without an organization even being aware of it. The panelists agreed that including data ethics as a mandatory subject within computer science courses was vital.

Even these measures are unlikely to completely solve the problems, but we have to start making a more concerted effort to push harder to try and address them. Oftentimes, the impact of data-driven decisions on our lives is hidden, and the resulting danger is that we don’t see it as a pressing problem.

As journalist and author Julia Angwin said:

“You might not know why you didn’t get that job, you may never know that it was data that discriminated against you. “

It is clear that we have reached a pivotal point in society – one where we have to collectively consider what we want the future of data collection and use to look like. We must take the time to understand the enormous potential impact of data on our lives.

Follow our coverage of SXSW 2016 here


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This Delaware entrepreneur used to run an ISP out of his home
February 20, 2016 7:20 pm|Comments (0)

Kahn became founder and CEO of The First Street Corporation, which offered web hosting, dialup service, circuits and support to clients. Kahn serviced the servers himself, developed the company website himself, managed and maintained the equipment …


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North America has used up its new IPv4 addresses
December 14, 2015 10:05 am|Comments (0)

North America has finally run out of new addresses based on IPv4, the numbering system that got the Internet where it is today but which is running out of space for the coming era of networking.

The American Registry for Internet Numbers, the nonprofit group that distributes Internet addresses for the region, said Thursday it has assigned the last addresses in its free pool. The announcement came after years of warnings from ARIN and others that IPv4 addresses were running out and that enterprises and carriers should adopt the next protocol, IPv6.

IPv4 dates back to 1981 and only has room for 4.3 billion unique addresses. IPv6, introduced in 1999, should have enough addresses to serve Internet users for generations, according to ARIN. 

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Would You Buy a Used Public Cloud from VMware?
September 3, 2015 9:25 am|Comments (0)

Would You Buy a Used Public Cloud from VMware?

“Our success,” reads VMware’s last quarterly report, filed in early August, “depends on our current and future customers perceiving technological and operational benefits and cost savings associated with the increasing adoption of our private and hybrid cloud solutions as well as our client virtualization and mobile device management solutions.

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