In this Sept. 12, 2011, file photo, a woman exercises by climbing the rows of seats at the Red Rocks Amphitheatre near Denver, Colo. Amazon says it is bringing its palm-recognition technology to the Red Rocks Amphitheatre and it will be available at other venues in the coming months. It’s the first time the technology, called Amazon One, will be used outside some of Amazon’s stores, where shoppers can pay for groceries and snacks by swiping their palms. (AP Photo/Ed Andrieski, File)
By Joseph Pisani
Your palm could soon be your ticket into a concert.
Amazon says it is bringing its palm-recognition technology to the Red Rocks Amphitheatre in Denver and it will be available at other venues in the coming months. It’s the first time the technology, called Amazon One, will be used outside some of Amazon’s stores, where shoppers can pay for groceries and snacks by swiping their palms.
Starting Tuesday, concertgoers at Red Rocks can sign up to connect their palm to a ticketing account by hovering their hand over a device. They only need to sign up once and then can use their palm to get into other shows and events at the venue. An Amazon account is not needed to use it.
Amazon signed a deal with entertainment company AEG to bring the technology to Red Rocks, which sells tickets on AEG's ticketing site, AXS.
Bryan Perez, CEO of AXS, said other venues plan to add the technology in the coming months but he declined to say where or how many. AEG partners with more than 350 stadiums and theaters around the world.
Concertgoers can get to their seats faster with their palm than holding up their phone to an attendant to scan a bar code, Perez said. Those who want to scan their palms will have a separate lane to enter.
“You don’t have to fumble around with your phone," said Perez. “Your hand is always attached to your body.”
Privacy experts have warned against companies using biometric data, such as face or palm scans, because of the risk of it being hacked and stolen. Amazon said it keeps the palm images in a secure part of its cloud and doesn’t store the information on the Amazon One device. Users can also ask for their information to be deleted at any time, Amazon said.
Facebook parent Meta officially has changed it’s ticker symbol from ‘FB’ to ‘META’. Paul Meeks, a portfolio manager, Independent Solutions Wealth Management, and a professor of practice in the Baker School of Business at The Citadel, joined Cheddar News to discuss why the tech giant has had to make big changes to its name, its ticker, and its business plans. "When you see what's happening in digital advertising — and there was a slowdown there even before the threat of a recession, which could cause a even more drastic slowdown next year — they had to pivot," he said. Meeks noted he sees Facebook dominating in the metaverse space going forward — whatever that may end up being.
Sports merchandising company Fanatics announced it will be making trading cards featuring college athletes, a deal made possible by the NCAA's change to NIL rules for its players. Anchors Kristen Scholer and Ken Buffa break down the deal for Cheddar.
Catching you up on today’s top business headlines with household wealth falling in Q1 for the first time in two years, Meta officially changing its ticker symbol from ‘FB’ to ‘META’, and updates on Tesla.
The European Union has approved a 40 percent quota for women to sit on company boards. This comes as only 9 of the 27 EU member states have gender equality legislation.
Amanda Victoria, co-founder and CEO of Siponey, joins Cheddar News to talk about the company's canned cocktails. The spritz is made with only four ingredients — wildflower honey, aged rye whiskey, sparkling water, and fresh lemon juice.
Officials and power operators are bracing the public for blackouts caused by higher-than-average temperatures this summer. Utility officials in California and Arizona are warning of potential interruptions this summer due to the strain on energy supplies. Heat waves and drought conditions weaken power grids and available electricity reserves. This also makes hydroelectric power less reliable and raises the risk of wildfires.
Cisco DeVries, CEO of OhmConnect, joins Cheddar News to discuss.
The markets opened lower on Thursday as investors hold their breath ahead of the May consumer price index, which will give investors a better picture of the state of inflation in the United States. Michele Schneider, a partner and the director of trading research and education for MarketGauge.com, joined Cheddar to discuss. "If the CPI read is softer than what's expected, we actually might get a rally," she said. "If it's more than expected, then I think it will spook the market."