A big glitch in cryptocurrency is impacting some shoppers online. Last week, a bank security firm uncovered Overstock.com unknowingly accepted Bitcoin Cash instead of Bitcoin as payment for a product. The glitch has since been fixed. Overstock.com CEO Patrick Byne responds to this mix-up.
Byne explained that there was no glitch with Overstock but rather a glitch at Coin Base. He estimated that the impact was less than $100 and did not severely impact any of their consumers. Byne was overall surprised by the amount of attention the story had received compared to the minimal impact it had.
Byne explains that Overstock is not expecting to create their own cryptocurrency. For the time being, they are happy to accept US dollars and Bitcoin.
Overstock.com is excited to be utilizing revolutionary crypto and developing their own blockchain technology for their platform. At this point, Overstock.com has made it a priority to use blockchain tech and develop it in the new year. Byne's goal is to build the most value per share of stock, and that's what he tells shareholders as CEO.
Spotify has just officially released its 2021 'Wrapped'. For the past few years, the streaming giant has been presenting customers with their listening habits from the prior year, including favorite artists, most listened to the genre, podcasts, songs you name it. However, critics say this method just shows how apps can collect our data. CEO of Prevailion Karim Hijazi, joined Cheddar to discuss more.
Recent internal documents obtained by the New York Times reveal how exactly TikTok's algorithm works. The report highlights how the app is mainly focused on retaining two metrics which are retention and time spent. In addition, the document titled, "TikTok Algo 101" details how the algorithm understands human nature from when we get bored to our sensitivity and culture ques. It means the app monitors will kind of videos you like. Professor of Computer Science at the University of California in San Diego Julian McCauley, joined Cheddar to discuss more.
Carlo and Baker discuss the sweeping new vaccine mandate in NYC that will target all private businesses. Plus, Trump's media venture gets its CEO and more.
The UK-based augmented reality startup, Dent Reality, raised the equivalent of $3.4 million USD in its most recent funding round. Dent Reality has created an AR app for smartphones that helps shoppers navigate retail locations by providing a layout of a store's aisles, while showing where to find specific items. The company works mainly with grocery stores but aims to integrate its tech with all types of physical spaces. Dent Reality CEO Andrew Hart joins Cheddar News' Closing Bell to discuss.
The world is amidst a skyscraper boom. In 2018, 146 buildings over 650 feet were constructed. That’s more than the total amount of skyscrapers constructed between 1979 and 1999. And all this construction is transforming our cities.
It’s no secret that America’s infrastructure is aging. The average American bridge is 43 years old. 49% of our streets and highways are in poor condition. That’s why rebuilding our roads is near the top of President Biden’s to-do list. But repaving is just surface level, some suggest we need to rethink the structures themselves.
Throughout history, humans have tried their best to predict what the future will look like. Today, it’s fun to look back and laugh at some of the wacky conceptual drawings of “cities of the future”. While the majority of these ideas look silly today, some concepts almost became our reality, if not for a few key shortcoming.
