Strength in numbers or guilt by association?

When Jeff Bezos, Tim Cook, Sundar Pichai and Mark Zuckerberg appear together to answer questions from U.S. lawmakers in the coming weeks, it could be a watershed moment for Big Tech.

Their appearance before a House committee looking into whether Amazon.com Inc., Apple Inc., Alphabet Inc. and Facebook Inc. unfairly freeze out competition will mark the first time Congress has tried to hold Big Techs leaders jointly to account. The corporate power on display not to mention the combined wealth of a quarter of a trillion dollars will be unlike anything lawmakers have faced before.

The group hearing before the House judiciary committee, which the CEOs agreed to this week, means that they will escape the sort of grilling they could have expected had they appeared individually. There wont be time for lawmakers to drill too deeply into the complexities of the companies very different markets and business models.

But the spectacle of a joint hearing could more than make up for that by emphasizing their combined economic power. It also offers the chance to emphasize questionable business tactics they have in common such as the use of their dominant platforms to freeze out competitors and favour in-house services, whether by directing search queries (Google), promoting favoured products (Amazon) or integrating in-house services more closely with their hardware (Apple). If Big Techs critics were looking for the symbolic moment when the industry could be held to account, this could be it.

Inevitably, the hearing will be dismissed as political theatre though that will not lessen the anticipation. Theatrics count in the realm of antitrust, where investigations are often carried forward on the strength of political momentum and public opinion, even if any sanctions ultimately have to stand the test of court oversight. For politicians trying to drive home the need for action, there may be no better opportunity.

Congressional hearings that take the top leadership of entire industries to task have an honourable tradition. It is one that should make the tech bosses wary. Lining up a group of CEOs and getting them to raise their right hands in unison to be sworn in then sitting them shoulder to shoulder at a desk has obvious courtroom symbolism. It isnt just the imagery that matters: the process is also psychologically significant, throwing a group of wealthy corporate bosses, accustomed in the safety of their executive suites to feeling invulnerable, on to the defensive.

When the men in suits who controlled Big Tobacco were arrayed together on Capitol Hill in 1994, it became a turning point in forcing their industry to pay out billions of dollars in damages. Big Auto got a grilling in 2008, when the heads of the largest U.S. carmakers came cap in hand to Congress in the depths of the financial crisis to ask for a bailout (it didnt help that all three turned up in their corporate jets).

It will be harder for the lawmakers to land a similar blow on Big Tech. The pandemic is likely to rob the occasion of some of its dramatic potential. Rather than sitting alongside each other, facing a circle of inquisitors on an elevated platform, the four are more likely to be seen side by side in video windows on a Zoom screen. But, properly stage-managed, there should still be plenty of opportunity to make an impact.

By marshalling the meeting of the four CEOs, David Cicilline, the House judiciary committee chairman, has shown a keen awareness of the power of the moment. The canny Democratic congressman from Rhode Island has methodically worked through the detailed complaints of Big Techs critics, and called witnesses from the tech companies, in a series of hearings over the past year. He now has a chance to draw out the highlights, and to underline how much is at stake.

There are obvious pitfalls. One to avoid will be the spectacle presented by Zuckerbergs appearance before both branches of Congress after the Cambridge Analytica scandal came to light. The anger among politicians was palpable and the Facebook chief executive was widely criticized for being evasive. But he still managed to neutralize the political attacks, largely because of the uncoordinated and unfocused nature of the hearings.

Devising a format where the important issues can be aired at a high enough level, while at the same time leaving time to dig into the most egregious behaviour of the dominant tech companies, will be difficult. But if properly managed, it could prove an uncomfortable moment for leaders of some of the worlds most powerful companies.

2020 The Financial Times Ltd.

More here:

Big Tech's Washington hearing will be a spectacle for the ages - Financial Post

The last big tech event I attended in person was Samsungs launch of the Galaxy S20 line of smartphones. Now Samsung will join everybody else in tech by trying to capture some semblance of that experience and hype in a purely online event with the upcoming Unpacked event scheduled for August 5th.

We are, of course, expecting to see the Galaxy Note 20 lineup announced that day. Though the rumors initially waffled a bit on what exactly that lineup would entail, more recent leaks point to a Note 20, a Note 20 Plus (which will be bigger), and a Note 20 Ultra (which will be... Ultra, whatever that means).

In addition to the Note 20 line, there are plenty of other Samsung devices that are due for an imminent release. Theres the 5G version of the Galaxy Z Flip folding phone, the Galaxy Z Fold 2 (rumors point to Z being Samsungs brand for screens that bend), the Galaxy Watch 3 smartwatch, and also new earbuds that are bean-shaped (yes really).

If all of these devices get announced, then it will be obvious that Samsung is hoping to make a splash with this event. Not to put too fine a point on it, but the company is broadcasting that intention quite clearly with a literal metallic paint splash on the invite.

As is Tradition, I will now proceed to overanalyze the image provided in a tech invitation. But while the normal rules require me to guess what products this image portends, instead I think it speaks to the psychology behind those products. Is it a halo? The drooping crown of a deposed king? Im just going to with saying it is what it looks like: a splash. Heres what it means: if the rumors hold true, this summers Unpacked event will see Samsung throw a bunch of ideas into the water to see what floats.

I get the feeling that Samsung is casting about for a halo device (something else that image could resemble, maybe). A halo device needs to impress everybody and draw people to the store, but not necessarily be the thing those people buy and walk out with. Will that be the Note 20, the Z Flip, or the Z Fold 2? I doubt Samsung itself knows the answer to that.

Me neither but my pessimistic take is Fold 2 or bust. Lets just review the contenders.

The Note 20 will surely be fine, but it will be laden with two problems. First, the spec-chasers will know that its just a Galaxy S20 with a stylus. Second, Samsungs big bet this year was on a new camera sensor that has been ...fine at best and problematic at worst.

Samsung was hoping for a generational leap, but instead tripped and has been trying to recover ever since. Reportedly, the Note 20 wont try to recreate the so-called 100X zoom but it will keep using that problematic 108-megapixel sensor. Even though Samsung has done much to improve it since the launch of the Galaxy S20 Ultra, its still worrisome.

The Galaxy Z Flip is genuinely better than any other clamshell folding phone (the main competitor being the new Razr), but the big issue I have with it is that it costs too much. I dont know whos clamoring for it to cost more. A 5G variant isnt the splash Samsung needs.

The Galaxy Watch? Itll be the best smartwatch for Android phones, which given the state of the competition means bupkis. As for the earbuds, all I want is for Samsung to have the self-confidence to actually call them beans. Tech is too self-serious these days. Give me Ear Beans.

But Ear Beans arent it either. Which leaves us with the Galaxy Z Fold 2 (or whatever it will be called. Im sure Samsung will throw a 5G in the name there in exchange for a carrier kickback).

I had a front-row seat to the disastrous Galaxy Fold launch in April of last year anytime your phone breaks spontaneously in the hands of several reviewers, thats bad. Samsung did eventually re-release the Fold (at its sky-high $1,980 price), but you wouldnt blame the company if it decided to just pull back on that whole folding tablet thing for a year or two.

Nope. If the rumors are true, the Fold 2 is coming. Now that is confidence. Rumors on what it will or wont be are a little more sparse than Id normally expect for a Samsung phone at this stage a larger outer screen, no stylus, and 5G. I also assume itll have that ultra-thin glass screen from the Z Flip. There will be more to the story, but that phone has a better shot at being a halo device than anything else.

Why does Samsung need a halo device? Because Chinese phone makers are nipping at its heels for marketshare (if not outright winning in lots of regions) and Samsung has staked its reputation on innovation. You can find a phone with 90 percent of what you get in a flagship Samsung phone while spending hundreds less so Samsung really needs to wow you with the other 10 percent.

The best wireless earbuds to buy right now. Im with Chris Welch on this one. After bouncing between five different BT headphones (AirPods Pro, Pixel Buds, Sony 1000XM3, OnePlus neckbuds, and the Galaxy Buds) for the past month, the Galaxy Buds are the ones I use the most now and notably, I use them with my Mac, iPhone, and Android phone. Would I like noise cancellation? Sure, but its not as much of a priority for me now that I dont commute by train. Id also like these headphones to switch between devices more seamlessly, but at least theyre better than Sony (nearly everybody is better than Sony in that regard).

Theres no one set of earbuds that is perfect at everything. For general everyday listening, the Samsung Galaxy Buds Plus are the best wireless earbuds. Got an iPhone? Nothing beats the AirPods Pro.

How I hosted my first charity stream, and how you can host one, too. Great walkthrough from Bijan Stephen:

If youre planning for your stream to be slightly more elaborate, I think the most important features to consider are length, guests, and a donation thermometer.

A portable display can make working from your dining room table easier. Dan Seifert:

Right now, the Ananta is available through a Kickstarter campaign, with deliveries promised for September of this year. As of this writing, the lowest price you can get the display for is $359, and it is expected to retail for a rather steep $599 when it hits general availability. If you go for the Kickstarter deal, the price is reasonable for how large, versatile, and well the Ananta works. But at full price, it may cost nearly as much as the laptop youre plugging it into, at which point you have to wonder if its worth it.

LG Gram 17 review: lighter than it looks. Monica Chin:

Its very unusual to see a 17-inch laptop under four pounds let alone under three. Couple that with a $1,499 starting price (our model currently goes for $1,699), and youre looking at a pretty niche target demographic. For that niche, though, this laptop tracks.

I built my own camera with a Raspberry Pi 4. This video from Becca Farsace is a treat. And it will encourage you to go try something weird and new during lockdown. Watch!

How to convert a PDF file for your Kindle.

This isnt a COVID-19 wave its a tsunami. Mary Beth Griggs has a much better metaphor for whats happening in the US right now.

Sports bubbles are good places to study COVID-19. Nicole Wetsman:

If the virus starts to spread within the isolation zones, though, it should be relatively easy to trace the path it traveled. In the outside world, its hard for people to remember where they go and who they interact with, says Angela Rasmussen, a research scientist at the Center for Infection and Immunity at the Columbia University Mailman School of Public Health. If youre on a tight schedule and living in a central location, like athletes in these environments are, that information is easy to access. You can work out, not only the number of contacts youve had, but the types of interactions you have with those people.

Tracing the link between your phone and the next pandemic. Justine Calma on how everything is connected. Mining for the minerals needed to make your phone puts people in situations that may cause spill over of viruses from animals to humans:

Ultimately, the way humans interact with animals and the environment can have grave consequences for our own well-being. Thats why scientists and public health experts have developed a strategy for addressing the ways in which the health of the environment and all of the people and wildlife living in it are connected. Its an approach called one health.

Microsoft announces new Windows 10 Start menu design and updated Alt-Tab. Tom Warren:

Essentially, the reduction in the color of the blocky tiled interface on the Start menu will simplify it slightly and make it easier to scan for the apps you use on a daily basis. Its a subtle change, but it certainly makes the Start menu look a little less chaotic and avoids many tiles sharing a similar blue color.

Microsoft announces Xbox Series X games event for July 23rd. How many times can you announce a new console?

Mmhmm turns your boring Zoom call into a Weekend Update-style TV show. If, like me, you briefly thought Oh I could probably pull all this off with OBS and a little work, youre missing the point. The whole key to this software is the ease of the UI, which could democratize different ways of presenting and having video conversations. I cant wait to try it out.

Google discontinues the Pixel 3A and 3A XL.

BMW is going all-in on in-car microtransactions. Well, I hate this! Sean OKane:

BMW now wants to take this to a far more specific level. The German automaker announced on Wednesday that all cars equipped with its newest Operating System 7 software will soon receive an update that makes it possible for the company to tinker with all sorts of functions in the car, like access to heated seats and driving assist features like automatic high beams or adaptive cruise control. And the company unsurprisingly plans to use this ability to make money.

Uber acquires meal delivery service Postmates for $2.65 billion.

Fading Light: the story of Magic Leaps lost mixed reality magnum opus. Adi Robertson:

Inside the company, though, a few dozen developers were building what they describe as one of Magic Leaps most exciting projects. Its called The Last Light: an interactive story about a young woman dealing with the death of her grandmother, designed to show the storytelling potential of mixed reality. And crucially, its creators say its finished but they arent sure if anyone will ever see it.

Theres no quick fix for climate change. Were so bad at understanding delayed results, as Justine Calma explains:

There is this fundamental misunderstanding of the climate system by non climate scientists trying to use trends on a 10 year time scale for climate change, when [with] climate change a 100 or 200-year timescale is relevant, explains Natalie Mahowald, a climate scientist at Cornell University who was not involved in the study. All our hard work today, we will not be able to see for 20 or 30 years this is the crux of the problem, Mahowald says. Humans have a really hard time doing something for future generations.

Quibi is flailing because no one at Quibi understands what Quibi is. Julia Alexander looks at the moves Quibi could make to survive as everybodys free trial runs out.

Visit link:

Samsung needs a splashy product for its splashy product launch - The Verge

Text size

Wall Street returned from the long holiday weekend feeling bullish as U.S. stocks rallied on Monday and the Nasdaq Composite closed at a fresh high. Mondays advance was initially propelled by China, which saw the Shanghai Composite Index gaining 5.7%.

But as the day wore on, big tech drove the market even higher. The Dow Jones Industrial Average climbed 459.7 points, or 1.8%, to close at 26,287. The S&P 500 added 1.6%, while the Nasdaq Composite gained 2.2%.

Tech was largely behind Mondays rally with Amazon (ticker: AMZN) surging 5.8% to cross $3,000 apiece for the first time ever. Netflix (NFLX) shares climbed 3.6%, also notching an all-time high.

The Shanghai Composite surged to its highest level in over five years, and the Hang Seng rose nearly 4%, as a front-page editorial in Chinas state-run Securities Journal said a healthy bull market after the pandemic is now more important to the economy than ever.

That suggests the government is likely to do what it can to support the stock market, said Marshall Gittler, head of investment research at BDSwiss Group.

Markets across Asia and Europe rose. The Nikkei 225 rose 1.8% in Tokyo and the German DAX gained 1.6%.

Recent economic data has also helped fuel gains. Germany on Monday reported a 10.4% gain in new manufacturing orders for May, which nonetheless was 29.3% lower than a year ago.

The stock market gains come amid rising coronavirus case loads, particularly in southern parts of the U.S.

States containing over half the U.S. population now meet one or none of the Centers for Disease Control and Prevention-recommended gating criteria for reopening, point out analysts at Goldman Sachs, who separately downgraded their U.S. economic growth view for the year to a 4.6% contraction from a 4.2% downturn.

New York City entered the third phase of its reopening process on Monday, meaning that nail salons, tattoo parlors and other personal services are allowed to resume business. Indoor dining at restaurants is still on pause, however.

Oil wavered with the price of West Texas Intermediate crude falling 0.2% to $40.58 a barrel while the price of Brent crude popped 0.6% to $43.04 a barrel.

Goldman Sachs (GS) and Boeing (BA) led the Dow with shares climbing 5% and 3.9%, respectively. Walgreens Boots Alliance (WBA) was also a blue chip leader as shares rose 2.8%. Walgreens is set to report earnings on Thursday for its fiscal third quarter.

Uber Technologies (UBER) shares gained 6% after the company announced it would buy Postmates in a $2.65 billion stock deal. The move to buy the food-delivery service comes after attempts to acquire Grubhub (GRUB) fell through.

Dominion Energy (D) shares were down 11%. Dominion and Duke Energy (DUK) scrapped plans to build a natural gas pipeline under the Appalachian Trail due to legal uncertainty. Duke shares were off 2.5%.

Meanwhile, Warren Buffetts Berkshire Hathaway (BRK. B) announced Sunday it would buyDominions natural gas assets in a deal worth $10 billion, marking the Oracle of Omahas first major acquisition during the coronavirus pandemic. Berkshire stock was up 2.2% in Mondays trading.

Tesla (TSLA) shares jumped 13.5% following a bullish note from JMP Securities. Teslas shares have climbed roughly 40% over the last month. The electric car maker also appeared to mock short sellers over the holiday weekend by selling pairs of red shorts on its website.

Harley-Davidson (HOG) shares soared 7.4% after analysts at Citigroup initiated coverage on the motorcycle maker with a Buy rating and a $33 per share price target on hopes that Harley can stage a turnaround.

Write to Steve Goldstein at steven.goldstein@wsj.com and Carleton English at carleton.english@dowjones.com

Go here to read the rest:

Stocks Close Higher With Amazon and Netflix Making Big Gains - Barron's