It’s Thursday and I’m tired! NYC wore my ass out. I’m on with Mark Starling, Seth, John, and the First News 570 crew. The big news is Big Tech’s booming surge on profits, Krispy Kreme sells the Nexus Level, and Chinese tech stocks lose a cumulative $1 trillion of value. You can listen to Mark and I point and laugh while talking about the wild and crazy technology world every Thursday morning, LIVE at 6:43am Eastern.
XBOX TURNS 20 AND GETS A DONUT
Microsoft and Krispy Kreme will be engaging in a joint marketing campaign on the 20th anniversary of the Xbox console. KK will be offering consumers across the UK an Xbox themed donut. The donut will be smothered with white icing, and crossed with the customary green icing in a big ‘X’. They are calling it the Nexus Level donut, and will be giving consumers who purchased a dozen donuts a chance to win an Xbox mini system.
Welcome to the next generation
— Krispy Kreme UK (@krispykremeUK) July 28, 2021
Introducing… The Nexus Level Doughnut
Coming Soon đź‘€https://t.co/UVteHkCnjT@xboxuk #KrispyKremeXbox pic.twitter.com/Xf3hRuKybw
TECH GIANTS TOAST CHAMPAGNE ON ANOTHER RECORD SETTING QUARTER
One of my business planning teachers told me not to tap the champagne just yet after having a spectacular quarter, and Big Tech shouldn’t pat themselves on the back just yet. Apple, Microsoft, and El Goog have all announced record setting PROFITS, not revenues, yesterday. Apple reported doubling profits from the previous quarter and Microsoft reported an increase of 47%. These record breaking profit announcements are coming at a time when the government and the public are scrutinizing large technology companies for having too much influence and too much information on the public. The Biden administration has appointed another tech-trust-buster to head another agency this week. The powers that be are talking about antitrust actions, curbing tech company size, and other legal options to curb runaway technology companies.
CHINESE STOCKS LOSE HUNDREDS OF BILLIONS OF VALUE AFTER INTERFERENCE
In related news, and an ominous lesson on the impact of gubment interference, Chinese technology companies have lost investors hundred of billions of dollars. Investors have been selling off significant amounts of Chinese technology company stocks as the Chinese government imposes new regulations and laws on the companies. Since February, Chinese tech stocks have lost a whopping $1 trillion (Trillion with a ‘T’) of value. Tencent has stopped new user registrations citing new laws and regs from the government. Meituan, a food delivery service, has lost $62 billion in value since last Friday thanks to complying with government regulations. You may be asking, “huh, what regulations?” Remember, China is a police state with firm requirements on reporting the actions and behaviors of online users. Many of these application ideas originated in the US, which liberally maintains user privacy through encryption and security. China has no scruples when it comes to knowing what you’re doing, who you’re doing it with, and where you’re doing it, online.
FRAT BOY CULTURE AND BILL COSBY PORTRAIT AT CENTER OF BLIZZARD SUIT
Activision President, J. Allen Brack and World of Warcraft designer, Alex Afrasiabi are at the center of a sexual harassment lawsuit. The lawsuit alleges Afrasiabi sexually harassed Blizzard employees and other women at his hotel room during BlizzCon, a Blizzard Entertainment convention. The allegations state that Afrasiabi called his hotel room the Cosby Suite and lionized the room with a large portrait of the formerly convicted rapist. Behavior like this is sickening and pathetic, and unfortunately isn’t unusual in the technology and programming world. I’ve worked with many women who can share stories like this, and it doesn’t get any easier hearing their stories. The culture needs to change.