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🗞️Diversity and inclusion news🗞️
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🧐World Economic Forum🧐
It's not the usual time (the middle of summer🚤) to be thinking about Davos, but the team at the World Economic Forum, actually churn out research throughout the year.
The latest bit of research, to be fair, isn't groundbreaking, but given their audience, it worth sharing as it highlights 3 cognitive biases perpetuating racism in the workplace🤔.
1. Moral licensing
This is when people derive such confidence from past moral behaviour that they are more likely to engage in immoral or unethical ways later.
2. Affinity bias
This is our tendency to get along with others who are like us, and to evaluate them more positively than those who are different.
3. Confirmation bias
This is the tendency to seek out, favour, and use information that confirms what you already believe.
You can read more here about how they suggest folks tackle them
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🧠Things that make you go hmmm🧠
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📲2 TRILLION Dollars📲
Yes, Apple hit the next milestone of its never-ending growth journey, becoming the first tech company to reach a valuation of 2 trillion Dollars. Given what has happened to the price of oil, it's now worth more than Aramco (Saudi's oil company) which was the first listed company to hit the $2tn mark just 2 years after it hit the $1tn mark.
To put that in perspective, Apple's share price has gained more than 60% this year ( IN A PANDEMIC 😷which saw it temporarily shut a lot of its stores). The $2tn mark puts it's worth more than the entire economy (for a year), GDP of countries, including Italy, Brazil, Canada, Russia and South Korea, to name a few, and worth more than all the top UK companies
Tech has been pretty resilient in the pandemic world with just five companies - Apple, Microsoft, Amazon, Facebook and Google´s parent company - accounting for nearly 23 percent (Around $6tn) of the S&P 500's (the biggest companies in America) entire value.😮 Read more about their domination here
For Apple fans the news might be accompanied by further good news as due to its stock split, each share is becoming increasingly affordable too💰. Now if that inspired you it appears something also did for the Blackberry team (remember them) who are giving things another crack. Do you ever think, what if🤣?
The race for the second spot is on with Microsoft and Amazon keenly on Apple's tail. Google and Facebook lag further behind. Broad valuations at the time of publication stand at Microsoft ($1.7 trillion), Amazon ($1.6 trillion), Google parent Alphabet ($1.1 trillion) and Facebook ($761 billion). What horse are you backing 🐎?
So what?: Apple Investors have a lot to be happy about!
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🖥️Paying your rivals🖥️
Ever wondered how browsers make money? Well times have been tough for Mozilla (Makers of the popular Firefox browser), with layoffs of 25% of the workforce. Nonetheless, it was announced just prior to that they struck a deal with rival, Google (huh) to pocket what is rumored to be between $400m to $450m a year between now and 2023🤨.
How does that work? Well, more than 90 percent of Mozilla's (its actually a non-profit) funding comes from web search providers like Google who pay to be the default search engine in Firefox. Around $430m of its 2018 total revenue of $451m came from those search deals – primarily Google💸.
So it's a complex relationship for those interested in competition. After all, should Google be curtailed somehow, its likely products like Firefox wouldn't exist, but yet, Mozilla is somewhat beholden to the likes of Google (their competition) for their very survival🤨. No doubt some folks will argue this helps generate competition in the browser market and others will think differently.
So what?: The layoffs are the sad thing here, but no doubt, given the tech talent race, the folks should be able to bounce back with roles at who knows... maybe a Google 👀
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💰Oracle wants to buy TikTok💰
💰Following news that Microsoft was considering buying the US (and international) operations of TikTok, Twitter jumped on the trend . But if that wasn't enough, perhaps the weirdest curveball of them all (for now) was that Oracle (remember them... well if you didn't they do... things... (after a quick wiki, they do database software and technology, cloud engineered systems, and enterprise software), threw their name in the hat.😅
In case you wondered why that might be the case, well tech crunch gave it a good break down, but basically, it'd be a great cloud customer for them💸
So what?: Competition is good right... Well, it might not be so plain sailing for Microsoft to walk away with a cut price deal (no doubt trump will be happy if the US treasury gets a cut too), although given TikTok's legal challenge to the whole thing, it may not be plain sailing⛵.
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📲The great merger📲
Remember when Facebook Spent $19bn or so to buy WhatsApp. Well, for years they have seemingly sat on it, and apart from a few tentative attempts, haven't 'made' money monetizing it.
Well, they did a similar thing with Instagram ( albeit for $1bn) but turned that into an ads powerhouse and shop pretty quickly.
The big vision has always been to unify it all though 🧠and well, we were warned about the great merger of all Facebook's messaging platforms.
Well, It looks like it is beginning. Afterall having three parallel messaging services isn't the most optimal way to run a service, so Facebook is experimenting with a richer (and probably end to end encrypted 👀(although this may pose problems to its advertising model and government relations)) solution.
So what?: The wechat vision of one super social app appears to be creeping along
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📈 The tools behind tech📉
📦Product📦
📏Design📏
👩🏿💻Code👩🏿💻
🏢The business behind the tech🏢
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🌐Events and opportunities 🌐
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💼Windsor Fellowship💼
A great opportunity to check out the Windsor Fellowship
The Windsor Fellowship is working with University College London (UCL) to offer scholarships funded by our partners DeepMind to students who will be starting at UCL in September 2020 on the Science, Technology and Society MSc and who have an interest in ethics and AI.
Each scholarship is worth £31,140. The value of the scholarship includes the cost of tuition fees (£12,120), a maintenance grant of £15,520, a one-off academic travel grant of £2,000, and a one-off equipment grant of £1,500.
Read more here
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💼Jobs & Opportunities 💼
📣Spotify
Are hiring for a Data/Research Scientist to join our Algorithmic Impact & Responsibility effort. It's a cool product inclusion role - Link here
👽Area 51✈️
IAG, the parent company of Aer Lingus, British Airways, Iberia and Vueling have applications open for their Accelerator Area 51. They let us know that their "accelerator gives start-ups and scale-ups the opportunity to work with one of our airlines on a fast-tracked proof of concept of their technology, over 10 weeks. It could mean testing their proposition with our customers, during daily flight operations or partnering with us to help bring their technology to market faster. Most continue to work with us after the accelerator ends."
Read more here
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🙌🏾The latest from the Colorintech team🙌🏾
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😃London Tech Week😃
Our Partners InformaTechFounders are super excited to bring you London Tech Week
The agenda is jam packed and has folks like
- Eric Schmidt (Former CEO of Google)🔍
- Matt Hancock ... Will someone asked him about his expertise in App launch 😅
- June Sarpong (of Telly and BBC fame)📺
- Nile Rodgers (of Chic)🎼
and even
- Our very own Ashleigh Ainsley🙌🏾
Oh and watch out for something super exciting in it too
Read more here, and register here
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😃What we are consuming😃
1.)🍗🐔Want inspiration on how to pivot your marketing strategy for something viral and covid secure. Look no further than KFC
2. Make email exciting again📧
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😎And that's the bottom line😎
👊🏾Let us know what you think if you have any feedback on the newsletter here👊🏾
📩If you think someone else would enjoy it, they can sign up here📩, you can forward it or you can share
  
🤗In these challenging times, we hope you and your loved ones stay safe.🤗
❤️Love, peace and happiness from the Colorintech Team!❤️
26/08/20
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