By Washington Post | PUBLISHED: September 25, 2018 at 8:37 am | UPDATED: September 25, 2018 at 8:42 am By Christopher Ingraham | The Washington Post Life insurance company John Hancock made a splash last week with the news that soon all of its policies would come bundled with the option to let the company track your fitness – via either a website and app, or through the use of a fitness tracker like an Apple Watch or Fitbit. The move underscores how fitness tracker data is an as-yet largely untapped gold mine for businesses – particularly in industries like insurance, whose financial bottom line directly depends on the health of their customers. John Hancock isn’t particularly shy about this: “The longer people live, the more money we make,” as the company’s CEO Brooks Tingle put it to the New York Times. The published research on Fitbits and similar devices, however, has yet to uncover a clear link between fitness tracking and fitness, to say … [Read more...] about An insurance company wants you to hand over your Fitbit data so it can make more money. Should you?
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Tech & Science Elon Musk Tesla Model 3 Tesla has reached its goal of manufacturing 5,000 Model 3 electric cars in one week, albeit slightly after the second quarter deadline. Since the launch of the affordable Model 3 in November, Elon Musk has struggled to ramp up production numbers to that magic number of 5,000. Now that he has, Musk says Tesla wants to build 6,000 a week by August. Speaking on CNBC’s Fast Money, Loup Ventures’ Gene Munster said Tesla should become profitable in the September quarter. “This 5,000 production number was the first time in about nine months he’s gotten one right,” Munster said about Musk. “I think it’s safe to always dial back what he’s saying, that’s why we think [Tesla’s] going to meet production number by the end of the September quarter. The Model 3 has helped Tesla double its manufacturing numbers over the past two years. Tesla Recommended Slideshows 30 In … [Read more...] about Tesla Profitability: Analyst Makes Big Prediction Following Model 3 Milestone
It’s no longer good enough to be in business for yourself alone — if it ever was in the first place. Corporate social responsibility is more important than it’s ever been, and consumers — especially younger consumers — are much more cognizant of a corporation’s purpose than they’ve ever been. But don’t confuse the idea of corporate social responsibility with the idea of purpose. Every year, the Chivas Venture gives $1 million in no-strings funding to startups that are creating positive change in the world. This year’s final five finalists, who together won $800,000 in funding, shared their insights on how to balance doing good with making a profit. Let’s start with the basics Building a brand with purpose is about more than just “let’s run charity events” or “support causes people believe in.” If you’re a brand that’s only mindful of corporate social responsibility out of … [Read more...] about How to build a brand with purpose, according to 5 entrepreneurs who just won big money doing so
In a perfect world, allowing three billion user accounts to be hacked would mean a business is forced to shut down and its assets shared with the victims. In the real world, it means the people in charge of it are able to sell for huge amounts of cash and the new owners can force their way onto your brand new phone. That's exactly what just happened now that Samsung has decided that it needs even more money and is forcing Yahoo! down the throat of Verizon Galaxy S9 buyers. (The deal includes preloading these Oath-branded apps on Verizon-sold Galaxy phones, but it also allows Bixby and other Samsung services to use Oath services like Yahoo! News as sources.) User data and digital advertising is big money. Sometimes big enough to stop caring for your customers. In 2013, Yahoo! was hacked and one billion accounts were compromised. In 2014, the same thing happened and another 500 million accounts were affected. The company didn't bother to say anything until 2016. In 2017, they admitted … [Read more...] about Samsung just gave Yahoo! another chance to play fast and loose with millions of users’ data
The 4,000 or so investors and VIPs who attended the Milken Global Conference this week heard sessions about luxury brands, avoiding war in North Korea, investing in China, cryptocurrency and blockchain, tax cuts, cannabis, and the global entertainment business opportunities. But the super rich also listened to sessions that I moderated on esports and gaming breaking into mainstream culture, as well as another session on how to be an esports team owner. Michael Milken, the creator of the conference and former financier, is an investor along with his son Gregory in the esports team Immortals. Film studio Lionsgate, which made The Hunger Games, held a reception on the roof of a swanky hotel in Beverly Hills ahead of the Milken event, and it highlighted for me how Los Angeles has become the epicenter for the esports … uh, call it what you want. The phenomenon. The explosion. The overhype. The gold rush. The bubble. Global esports revenues will grow 38 percent to $906 million in 2018 … [Read more...] about The DeanBeat: Big money and the super rich have descended on esports