FB - Facebook, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
199.32
+1.92 (+0.97%)
At close: 4:00PM EST

198.35 -0.97 (-0.49%)
Pre-Market: 8:50AM EST

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Previous Close197.40
Open197.40
Bid198.40 x 800
Ask198.45 x 3000
Day's Range196.86 - 200.00
52 Week Range123.02 - 208.66
Volume16,782,266
Avg. Volume13,337,887
Market Cap573.938B
Beta (3Y Monthly)1.06
PE Ratio (TTM)31.87
EPS (TTM)6.26
Earnings DateJan 28, 2020 - Feb 3, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est238.96
  • Senators Look to Shore Up Data Security
    Bloomberg

    Senators Look to Shore Up Data Security

    Nov.18 -- Senator Josh Hawley, a Republican from Missouri, proposed a bill to limit data that gets transferred to China and Russia. Ben Brody Kurt Wagner report on "Bloomberg Technology."

  • Sir Martin Sorrell on Political Ads
    Bloomberg

    Sir Martin Sorrell on Political Ads

    Nov.18 -- Tech companies are responsible for their content, says S4 Capital's Sir Martin Sorrell on 'Bloomberg Technology.'

  • Dow Jones Futures Fall On China Tensions; Target Spikes Higher; Pinduoduo Crashes
    Investor's Business Daily

    Dow Jones Futures Fall On China Tensions; Target Spikes Higher; Pinduoduo Crashes

    Futures fell on China tensions over Hong Kong. Pinduoduo plunged on weak results. Target spiked higher again after strong earnings.

  • Barrons.com

    50 Orders of the 737 Max Plane, and Two More Numbers to Know

    STOCKSTOWATCHTODAY BLOG Three numbers to start your day: (BA) Recently Received 50 Orders for the Grounded 737 Max Aircraft That’s of course good news for the beleaguered airplane manufacturer. But why are airlines agreeing to buy these planes now? It’s because planes are bought years in advance, and those purchases are part of multi-year fleet and capacity plans.

  • Bloomberg

    Google CEO Opens New Japan Campus in Tokyo’s Trendy Shibuya District

    (Bloomberg) -- Google Chief Executive Officer Sundar Pichai was in Tokyo Tuesday to inaugurate the relocation of the company’s Japanese head office to an expansive new complex in the trendy district of Shibuya.Taking up the majority of the gleaming new 35-floor Shibuya Stream skyscraper, Google has put its name on the building and dedicated two floors to a newly launched Google for Startups Campus, which is its seventh in the world and second in Asia after Seoul.Agnieszka Hryniewicz-Bieniek, the director of Google for Startups, said that the company will run an accelerator program early next year that will select 12 startups looking to scale up their work on artificial intelligence and machine learning, both critical aspects of Google’s current and future operations. She also stressed the importance of inclusiveness at an event where the Wi-Fi password was BuildInclusiveTeams.“We would like Campus Tokyo to support women founders,” she said, and that Google is proud that 37% of its Campus participants are female entrepreneurs, a higher proportion than the wider startup ecosystem. “So when they go to the next stage of growth, we’re behind them, we’re supporting them.”The Campus initiative extends Google’s effort to combine education and training for startups with evangelism for the use of its cloud and business services. Co-location with Google’s main office will make it easy for experts from Google’s developer relations and web marketing teams to make themselves available to help budding entrepreneurs, Google said.Joined by Japan’s Minister for Internal Affairs and Communications Sanae Takaichi on stage, Pichai said he had toured some of the venues for next year’s Tokyo Olympics, which Google will be supporting through its various services like Google Maps and Translate. “Ultimately, we want to make sure the legacy of technology innovation extends far beyond 2020. This Google for Startups Campus is one part of that,” he said at the opening.AI has been topical in Japan recently, with SoftBank Group Corp. announcing plans to combine its Yahoo Japan internet business with Naver Corp.’s Line messaging service in an effort to create an AI tech leader capable of rivaling U.S. juggernauts like Google and Facebook Inc. On Monday, Peter Thiel visited Tokyo to introduce Palantir Technologies Japan Co., which will use AI to make sense of large volumes of unwieldy data in the fields of health and cybersecurity.Google has said the move to Shibuya Stream will double its employee headcount in Japan to beyond 2,000. The company’s first office outside the U.S. was in Tokyo, opening in 2001. It said it has “invested heavily” in Japan over the years and earlier in 2019 committed to training 10 million people in digital skills by 2022. Its so-called Grow with Google program is the Campus equivalent for individual job-seekers and students.“At Google, we are deeply committed to fostering Japanese startups,” Pichai said.(Updates with details of accelerator from second paragraph)To contact the reporter on this story: Vlad Savov in Tokyo at vsavov5@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad Savov, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Investopedia

    Heavy Hitters Drive Nasdaq 100 Performance

    The strong performance of the Nasdaq 100 is being driven by five companies. Can the index move higher without its largest components?

  • Facebook, IBD Stock Of The Day, Breaks Out From Cup-With-Handle Pattern
    Investor's Business Daily

    Facebook, IBD Stock Of The Day, Breaks Out From Cup-With-Handle Pattern

    Facebook is getting renewed attention after an earnings report that eased concerns about spending and revenue deceleration. Revenue jumped 29% to $17.65 billion and earnings surged 20%..

  • American City Business Journals

    We know their salaries, but what about the perks for Silicon Valley's highest-paid CEOs?

    Vacation day cashouts, merchandise at the company store and home security systems are some of the perks granted to Silicon Valley's highest-paid CEOs.

  • GuruFocus.com

    Black Edge

    I’ve observed over the years that whatever information an investor believes to be unique is almost always understood by many other market participants, and thus is not valuable Continue reading...

  • Nasdaq, Small Caps Lead But Dow Drags; Facebook Breaks Out
    Investor's Business Daily

    Nasdaq, Small Caps Lead But Dow Drags; Facebook Breaks Out

    Stock indexes were mixed Tuesday as the Nasdaq — helped by a breakout in Facebook stock — climbed 0.4%. But the Dow Jones Industrial Average lagged.

  • Reuters

    UPDATE 1-Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe

    WASHINGTON/SAN FRANCISCO, Nov 19 (Reuters) - Four top U.S. tech companies, Alphabet's Google, Facebook, Amazon.com and Apple, responded to questions from a congressional committee by defending their practices and declining to answer some questions. The House of Representatives Judiciary Committee, which released the answers Tuesday, had sent the queries as part of its antitrust probe of the four giants, which face a long list of other antitrust probes. Facebook and Apple declined comment for this story while Amazon and Google had no immediate comment.

  • Robertson's Tiger Management Buys Adobe, Facebook
    GuruFocus.com

    Robertson's Tiger Management Buys Adobe, Facebook

    Firm's largest buys of the 3rd quarter Continue reading...

  • Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe
    Reuters

    Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe

    WASHINGTON/SAN FRANCISCO (Reuters) - Four top U.S. tech companies, Alphabet's Google, Facebook, Amazon.com and Apple, responded to questions from a congressional committee by defending their practices and declining to answer some questions. The House of Representatives Judiciary Committee, which released the answers Tuesday, had sent the queries as part of its antitrust probe of the four giants, which face a long list of other antitrust probes. Facebook and Apple declined comment for this story while Amazon and Google had no immediate comment.

  • Google, Facebook, Amazon, Apple Push Back on House Tech Concerns
    Bloomberg

    Google, Facebook, Amazon, Apple Push Back on House Tech Concerns

    (Bloomberg) -- Google, Facebook, Amazon and Apple defended their business practices in responses to detailed questions by lawmakers conducting an inquiry into antitrust issues in the tech sector.The answers, released Tuesday by the House subcommittee overseeing the probe, come as antitrust scrutiny of the companies has escalated rapidly, with federal and state enforcers opening formal investigations into Facebook Inc. and Alphabet Inc.’s Google.The four companies received the questions from Democratic Representative David Cicilline of Rhode Island, who chairs the panel, in September. Separately, the whole committee issued requests for extensive records on the firms’ business practices, acquisitions, executive communications and other issues. The companies also are in the process of responding to those requests.Here’s what the four firms said:GoogleDisputed the idea that it controls too much of the search market and the digital ad ecosystem.Downplayed suggestions that it prioritizes its own services.Denied that advertisers can only use Google Display & Video 360 ad service to purchase advertising inventory on its YouTube video platform, saying certain partners can buy ads directly from Google’s sales team.Denied that its search ranking system considers whether a publisher has adopted use of its Accelerated Mobile Pages -- a format that hosts web content directly inside search results. Google has said that the new format significantly accelerated loading times on websites.FacebookDefended policies that restricted some third-party app developers from using its platform, insisting it has never tied access to its data to spending on advertising even though documents from a lawsuit have told a different story.Said its changes to WhatsApp’s privacy policy were consistent with its promises not to alter the chat platform’s sharing practices.Explained that it restricted video app Vine from its platform in 2013 because it “considered Vine to be an app that replicated Facebook’s core News Feed functionality.”AmazonPushed back against criticism that it unfairly competes with third-party sellers in its marketplace with its own products, saying its decision-making for how third-party sellers are treated is driven by a desire to give consumers wide selection, low prices and convenient delivery.Defended its private-label line known as AmazonBasics, saying private-label products are a “common retail practice.” It said it “generally does not distinguish the treatment of brands” based on the brand owner.Said its algorithm for listing shopping results doesn’t consider whether a merchant uses its Fulfillment by Amazon logistics service or whether a product is Amazon’s private label.Said it prohibits its private-label business from using individual sellers’ data to make decisions about product introductions, pricing or inventory.ApplePointed out that there are many apps that compete with its own services such as web browsing, maps, music and video.Said that users cannot uninstall its Safari web browser from the iPhone or switch to another default because Safari is “an essential part of iPhone’s functionality” as an operating system app.Explained that it’s not possible to reliably repair some products “because it is not feasible to split products into its component parts without significant risk of damage to those components.”\--With assistance from Naomi Nix, Gerrit De Vynck, Joe Light, David McLaughlin and Mark Gurman.To contact the reporter on this story: Ben Brody in Washington, D.C. at btenerellabr@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Mark NiquetteFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Soaring salaries at Facebook, Netflix and Silicon Valley giants show where 'the rest' can win
    American City Business Journals

    Soaring salaries at Facebook, Netflix and Silicon Valley giants show where 'the rest' can win

    The soaring salaries at Silicon Valley stalwarts like Facebook, Netflix and Google create a number of opportunities – and could be a wake-up call.

  • Top Tech Stocks for December 2019
    Investopedia

    Top Tech Stocks for December 2019

    The technology sector is made up of companies that, among other things, manufacture consumer electronics and their components, develop software, and provide information technology (IT) services like cloud hosting. Below, we'll examine the top three stocks in the tech sector for best value, fastest earnings growth, and most momentum. HP announced in November that its board of directors had unanimously rejected an unsolicited proposal from Xerox to acquire the computer manufacturing company.

  • Bloomberg

    ‘Hipster Antitrust’ Might End the Megamerger Party

    (Bloomberg Opinion) -- A few months ago, a group of Democratic senators, several of them presidential candidates and all members of the Senate’s antitrust subcommittee(1), wrote a letter to Joseph Simons, the Republican chairman of the Federal Trade Commission, to criticize two monster pharma deals under regulatory review: the $63 billion Allergan PLC-AbbVie Inc. merger, and Bristol-Myers Squibb Co.’s $74 billion purchase of Celgene Corp.Consolidation in the pharmaceutical industry, the senators wrote,is occurring against a backdrop of ever-rising prescription drug spending….It is more important than ever that the FTC take appropriate action to protect consumers. The Federal Trade Commission must carefully consider whether the proposed transactions may lessen competition, stifle innovation, or harm consumers.“The proposed AbbVie/Allergan and Bristol-Myers Squibb/Celgene transactions,” they added, “raise significant antitrust issues.”The FTC has not yet ruled on the Allergan-AbbVie deal, which was only announced in June, and which the companies hope to complete in early 2020.But on Friday, Simons and the two other Republican commissioners on the five-member FTC brushed aside the concerns of the Democrats and approved the Bristol-Myers Squibb deal with Celgene. Its only condition was that Celgene sell Otezla, its blockbuster psoriasis drug, apparently because Bristol-Myers Squibb has a promising psoriasis drug of its own in a phase 3 trial. The FTC has historically frowned on merged drug companies keeping overlapping drugs, fearing excessive market control.The FTC’s two Democratic commissioners, Rohit Chopra and Rebecca Kelly Slaughter, dissented, something Chopra in particular has made a habit of doing since he joined the FTC in 2018. During the Obama administration, Chopra was the student loan ombudsman at the Consumer Financial Protection Bureau, where he attempted to spur competition in student lending.  At the FTC, he quickly gained a reputation for being in the vanguard of what’s sometimes called “hipster antitrust” — the effort to infuse new thinking into the antitrust arena.Much of this new thinking has been spurred by the rise of the big three tech giants, Facebook Inc., Alphabet Inc.’s Google, and Amazon.com Inc. Chopra has criticized the fines the FTC has levied against Facebook and YouTube (which is owned by Google), saying that “when a company can pay a fine from its ill-gotten gains, that’s not a penalty — that’s an incentive.”  He seeks remedies that will diminish their market power and permanently alter their behavior.But Chopra isn’t just focused on Big Tech. He believes that in industry after industry, concentration has gone too far. The result, he concludes, has been less innovation, higher barriers to entry for new market entrants and higher prices for consumers. And because the FTC must approve mergers in a variety of sectors — chemical companies, agricultural concerns and, yes, pharmaceuticals — he is in a position to do something about it. Or rather, he may be soon, depending on the result of the 2020 election.Which is also why his dissents are worth noting. They offer an insight into how a Democratic administration might tackle market power and industry consolidation at a time when the status quo no longer seems acceptable.At the FTC, there has long been a bipartisan consensus that so long as two drug companies didn’t have overlapping products — or if they were willing to divest them — the merger would be approved. This long-standing practice, Chopra wrote in his dissent, is no longer good enough: “Some evidence shows that these mergers have choked off innovation, creating harms that are immeasurable for those waiting for a cure.”  He then lays out all the elements of Bristol-Myers Squibb merger with Celgene that he believes the FTC should have considered:This massive $74 billion merger between Bristol-Myers Squibb (NYSE: BMY) and Celgene (NASDAQ: CELG) may have significant implications for patients and inventors, so we must be especially vigilant. In my view, this transaction appears to be heavily motivated by financial engineering and tax considerations (as opposed to a genuine drive for greater discovery of lifesaving medications), without clear benefits to patients or the public….In addition, there are also concerns about a history of anticompetitive conduct.(2)Expansive investigation for mergers like these is time well spent.He then goes on to list the questions he believes the FTC should have tried to answer—questions that go well beyond overlapping drugs:Will the merger facilitate a capital structure that magnifies incentives to engage in anticompetitive conduct or abuse of intellectual property? Will the merger deter formation of biotechnology firms that fuel much of the industry’s innovation? How can we know the effects on competition if we do not rigorously study or investigate these and other critical questions? Given our approach, I am not confident that the Commission has sufficient information to determine the full scope of potential harms to competition of this massive merger.Here is something else Chopra believes: The FTC has plenty of statutory authority to bring antitrust actions — or block mergers on antitrust grounds. It’s just that it has rarely used that authority, preferring instead to take the same laissez faire approach as the Justice Department and the courts. “What we’re advocating is not radical,” Chopra told me recently. “It’s a restoration. We have to see this as a core part of the economic policy tool kit.”So far in this early phase of the presidential race, corporate executives have tended to focus on, say, Elizabeth Warren’s wealth tax. That’s understandable, but a wealth tax will require Congress to pass a bill. So will Medicare For All, and any number of policies the various Democratic candidates hope to implement.But changing the government’s approach to antitrust — getting tougher on mergers and maybe even calling for some companies to be broken up — doesn’t require legislation. When a group of senators (some of whom also happen to be presidential candidates) writes to the FTC calling for greater scrutiny of a big pharma merger — and a leading light of the new antitrust movement is in the vanguard — it’s a pretty good bet that this is one thing that will change if there’s a new administration.Brace yourselves, Corporate America. The merger party may be coming to an end.(1) Its official name is the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights.(2) Chopra’s dissent links to this 2018 NPR article, about the steps Celgene took to keep its multiple myeloma drug, Revlimid, away from generic competition.To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Timothy L. O'Brien at tobrien46@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • The Zacks Analyst Blog Highlights: Google, Fitbit, Apple, Facebook and Amazon
    Zacks

    The Zacks Analyst Blog Highlights: Google, Fitbit, Apple, Facebook and Amazon

    The Zacks Analyst Blog Highlights: Google, Fitbit, Apple, Facebook and Amazon

  • U.S. Big Tech Could Learn From Russia's Yandex
    Bloomberg

    U.S. Big Tech Could Learn From Russia's Yandex

    (Bloomberg Opinion) -- Yandex NV, Russia’s biggest technology company, has figured out how to avoid nationalization or a foreign ownership ban. Big Tech in the U.S. should pay attention: The governance scheme Yandex appears to have worked out in consultation with the Russian government could be a good solution for companies that are de facto public utilities under private control.Yandex, set up in 2000 to monetize a search engine developed in the 1990s by the team of co-founder Arkady Volozh, is as close as it gets in Russia to a Silicon Valley-style internet giant. For a long time, it mainly aped Google’s services for the Russian market, but it has grown into a conglomerate that developed or bought up other businesses, from marketplaces to delivery projects. It’s not just Russia’s Google but Russia’s Amazon and Russia’s Uber, too (it first outcompeted Uber’s Russian operation, then swallowed it up). In fact, when Russian President Vladimir Putin signed a “sovereign internet” law earlier this year, officially meant to keep web services functioning inside Russia should the U.S. cut the country off from the worldwide computer network, many said Yandex would be that “sovereign internet.”Yandex’s size and its ability to match the tech giants have made the company strategic for the Russian government. As early as 2009, Volozh had to protect Yandex from nationalization or from being taken over by one of Putin’s billionaire friends by issuing a “golden share,” which could block the sale of more than 25% of the company’s stock, to state-controlled Sberbank.But the government also could be helpful when Yandex needed it. In 2015, the Russian tech giant filed an antitrust complaint against Google, which had been eating into its market share on mobile, and in 2017 Google had to settle with the Russian antitrust authority, allowing Android smartphone vendors to install Yandex apps. Now, the Russian parliament is considering a bill that would ban the sale of phones and computers without pre-installed Russian software. Yandex would be the  main beneficiary.In Putin’s mind, that kind of protection comes at a price: Yandex must guarantee that it will never fall under foreign control. The previous “golden share” arrangement didn’t quite rule that out. Volozh and top employees control the company’s Class B stock, which gives them 57% of the voting power. If those shares are sold or their owners die, Class B shares will automatically convert to Class A ones, which are traded on stock exchanges, and foreign shareholders will end up with the most voting power.In July, legislator Anton Gorelkin introduced a bill that would limit the foreign ownership of strategically important internet companies to 20%. Yandex opposed it, but the government approved it, and it became clear that the bill would be passed. So Volozh began working feverishly on a solution, which was finally announced on Monday “after many months of discussion,” as Volozh wrote in a letter to employees. The company has set up a special body called the Public Interests Foundation, made up of representatives of Russia’s top math, engineering and business schools (most of them owned by the state) and Russia’s big-business lobby, the Union of Industrialists and Entrepreneurs. The foundation will have two seats out of 12 on Yandex’s board of directors, and it will have a veto on all deals involving 10% or more of Yandex stock, big intellectual property sales and any transfer of Russian citizens’ personal data.Putin’s press secretary, Dmitry Peskov, denied that the Kremlin had taken part in the discussions mentioned in Volozh’s letter, but praised Yandex for appreciating the company’s “special responsibility” and the “special attention” on the part of the state that it enjoys. Immediately after the Yandex announcement, Gorelkin called the solution “elegant” and pulled his bill. All this was immediately reflected in a share price spike.This may read like a distinctively Russian story, in which a group of business founders is trying to avoid a state takeover and the Kremlin prefers not to establish formal control over the national tech champion while keeping a close eye on it. The schools provide a convenient smokescreen both for the government and for investors. But what Yandex has done isn’t only relevant within the context of Putin’s Russia. It could be seen as a template for Big Tech, even though Yandex’s market capitalization, at $13.2 billion, is only a fraction of Alphabet Inc.’s ($910.6 billion) or Facebook Inc.’s ($562.9 billion).These two companies that make up the internet’s advertising duopoly, are often discussed along with Amazon.com Inc. as public services rather than mere businesses by politicians on both the right and the left of the U.S. political spectrum. Last year, Republican Representative Steve King of Iowa proposed treating Google and Facebook as public utilities. Senator Elizabeth Warren of Massachusetts, a leading Democratic presidential candidate, would break up some of the Big Tech companies and designate some as “platform utilities” that would be banned from sharing user data with third parties and required to treat all users equally.Obviously, the tech firms are opposed to such heavy-handed regulation, but what they do on their own only brings them closer to a confrontation with governments, both in the U.S. and in Europe. Facebook’s refusal to police misleading political advertising and Google’s data-sharing practices scream for some kind of state interference. Like Yandex, the companies could act preemptively to set up governance structures that would veto business ideas viewed as damaging to society’s interests. Vesting veto powers in councils made up of the representatives of top universities and nongovernmental organizations could accomplish that purpose. If such a structure can win approval even from an authoritarian regime such as the Russian one (with the caveat that academic institutions in Russia aren’t as independent as those in the West), it could probably satisfy most Big Tech critics in democracies, too.  The alternative, as in Yandex’s case, could be far more restrictive.To contact the author of this story: Leonid Bershidsky at lbershidsky@bloomberg.netTo contact the editor responsible for this story: Jonathan Landman at jlandman4@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Marissa Mayer is back with a new startup focusing on artificial intelligence
    MarketWatch

    Marissa Mayer is back with a new startup focusing on artificial intelligence

    Mayer has been tight-lipped about her new venture, Lumi Labs, which is focused on building A.I. applications for consumers.

  • Bloomberg

    Winklevoss Brothers Buy a Startup Founded by Identical Twins

    (Bloomberg) -- Crypto entrepreneurs Tyler and Cameron Winklevoss just made their first-ever acquisition, and the duo behind the company they bought couldn’t be more similar.Duncan and Griffin Cock Foster, 25, are also identical twins. While the 38-year-old Winklevoss brothers rowed in the 2008 Beijing Olympics, the other twins rowed in high school. That said, the Cock Fosters weren’t involved in the birthing of social network Facebook Inc.“You can’t make this stuff up,” Tyler Winklevoss said in a phone interview. “There are so many great parallels, it was just the right fit.”The two sets of twins came together over their belief in the future of so-called nifties. A niftie may be a cat from the CryptoKitties game, in which players breed the digital felines, or a token representing ownership in art, stamps and comic books -- an asset that is being kept track of via a blockchain digital ledger and is tradeable. To buy such a collectible, people typically have to open digital currency wallets, buy cryptocurrency on an exchange -- a process that can take hours and can be confusing.The Cock Fosters’ Nifty Gateway, which the Winklevoss’s Gemini Trust Co. bought for an undisclosed sum, lets anyone pay for nifties with a credit card, via a streamlined experience similar to checking out through Amazon. The company currently lets people buy nifties from Open Sea marketplace and CryptoKitties and Gods Unchained games. It doesn’t disclose its customer numbers or payment volume. But Duncan Cock Foster forecasts that nifties could one day attract 1 billion collectors. The Winklevoss expect that the market for nifties will be as big as the collectibles, art and gaming markets combined.“We believe in this future where all your assets will be on a blockchain and you may want to buy, sell and store them, and Nifty fits that vision,” Tyler Winklevoss said.While initially Gemini, with more than 220 employees, and Nifty, with three workers, will continue to operate as stand-alone companies, that could change, and some of Nifty’s features could make way into Gemini services.The Cock Foster brothers earned their bachelors of computer science and of mathematics, respectively, from different colleges in 2017 and entered the corporate world. Duncan Cock Foster worked as a developer for a consultancy for a year in San Francisco, while Griffin worked at Jet.com in the New York area, before they started Nifty in 2018.Duncan now owns about 300 nifties, and his brother -- 100. While most people currently don’t even know what the word means, the two sets of twins hope that will change.“All great companies, all great ideas there’s a period where you see a truth and many other people don’t, and you have to have that conviction,” Tyler Winklevoss said.To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Rita NazarethFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    India Says Law Allows State to Snoop in WhatsApp

    (Bloomberg) -- India’s government said on Tuesday it’s “empowered” to intercept, monitor and decrypt digital information in the public interest as long as its agencies follow the law.Laws allowed federal and state governments to intercept “any information generated, transmitted, received or stored in any computer resource,” G. Kishan Reddy, junior minister for India’s Ministry of Home Affairs told Parliament in a written reply when asked by an opposition lawmaker whether the government had snooped on WhatsApp, Facebook Messenger, Viber, and Google calls and messages.Information can only be intercepted by “authorized agencies as per due process of law, and subject to safeguards as provided in the rules,” the statement said.Reddy didn’t answer a question on whether the federal government had used the services of NSO Group’s Pegasus software to snoop on calls and messages on WhatsApp Inc’s mobile platform. Indian news reports had earlier this month listed activists and human rights lawyers who had spoken out against government policies as among those whose phones were hacked.Facebook Inc., parent of WhatsApp, informed about 1,400 users that a malware was sent on their devices using the video calling system, the company had said in a statement. Facebook has sued spyware manufacturer NSO, alleging that the Israeli company hacked into the mobile phones of users.The government can monitor digital information “in the interest of the sovereignty or integrity of India, security of the State, friendly relations with foreign States or public order or for preventing incitement to the commission of any cognizable offence relating to above or for investigation of any offence,” Reddy said in his written statement to the parliament. ​No state agency has blanket permission for interception, he added. Each case is reviewed by a committee headed by the cabinet secretary in case of federal government and chief secretary of the state in case of a state government.​Facebook is currently fighting a case in India’s Supreme Court that may decide whether WhatsApp, other messaging services providers, and social media companies can be forced to trace and reveal the identity of the originator of a message. Facebook has invoked users’ right to privacy as part of its defense in the top court.India plans to introduce rules to regulate social media because it can cause “unimaginable disruption” to democracy, Prime Minister Narendra Modi’s government said in a legal document filed in the nation’s Supreme Court last month.To contact the reporter on this story: Archana Chaudhary in New Delhi at achaudhary2@bloomberg.netTo contact the editors responsible for this story: Ruth Pollard at rpollard2@bloomberg.net, Muneeza NaqviFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 3 Dow Stocks for Dividend Investors to Buy as Stock Market Keeps Climbing
    Zacks

    3 Dow Stocks for Dividend Investors to Buy as Stock Market Keeps Climbing

    Today we searched for highly-ranked, large-cap stocks using our Zacks Stock Screener that dividend investors might want to consider buying. All three of the stocks also happened to be Dow components from completely different industries...

  • How Activists Are Getting Around Iran’s Internet Blackout
    Bloomberg

    How Activists Are Getting Around Iran’s Internet Blackout

    (Bloomberg Opinion) -- The latest unrest in Iran is about something far more serious than rising gasoline prices. The proof is that, over the weekend, the regime took most of the country offline.NetBlocks, a nongovernmental organization that monitors digital rights, says that by Saturday, Iran’s internet connectivity was 5% of what it was earlier in the week. The clampdown began on Friday, coinciding with demonstrations and protests throughout Iran, with intermittent outages in major cities such as Tehran and Shiraz. By Saturday, the group said, it had “proceeded to a disconnection of all mobile networks followed by a near-total national internet and telecommunication blackout.” And yet the images from inside the country have kept coming. In the past few days, the rest of the world has been able to see videos from inside the country showing mass demonstrations and at times violent crackdowns from security services. “I keep getting these videos,” says Masih Alinejad, an Iranian activist who began the anti-hijab protests and is now based in Brooklyn. Anticipating the regime’s actions, many Iranians have developed a kind of digital resilience. They take advantage of networks that remain online and at times connect to the internet through satellites or service providers in neighboring countries.In some cases, Iranians are also taking advantage of the country’s two-tiered approach to internet access. Despite the near national blackout, regime and university networks have remained online. “The government people have internet,” says Mariam Memarsadeghi, co-founder of Tavaana, a web platform that works to build civil society inside of Iran. “There are good reasons to think the friends and families of people who have government connections will use them to get the word out.”Abdullah Mohtadi, the secretary general of the Komala Party of Iranian Kurdistan, says Kurdish activists use Iraqi SIM cards to gain access to the Internet. The participation of the Kurds in the national protests this time also marks a change. Kurdish Iranians have protested the regime for decades, but their protests are often against the regime’s treatment of the Kurdish minority. This time, he says, Iranian Kurdish parties are coordinating their activism with the national movement.But Alp Toker, the director of NetBlocks, warns that there is no reliable way to circumvent the regime’s restrictions. Roaming SIM cards can be cut off, he points out, while satellite internet is expensive and slow. At the same time, some apparent connections may actually be operated by the government as a ruse — tricking users into thinking their communications are safe.The U.S. government, meanwhile, is doing what it can. It has helped fund organizations such as Memarsadaghi’s, for example. It has worked to help Iranians get access to equipment that would make it easier to get online through satellite connections instead of the on-the-ground internet service providers controlled by the regime. One U.S. official tells me that the State Department has asked some of the big social media companies to suspend the accounts of Iranian regime leaders and entities as long as Iranian citizens are kept offline. Alinejad herself has called on Twitter to shut down the personal accounts of Iran’s supreme leader, Ayatollah Ali Khamenei.But banning Khamenei’s account, and those of other regime figures, is the least that Facebook and Twitter should do. It’s in their interest to develop easy-to-use technologies to circumvent internet bans such as Iran’s; Iranians use Twitter, Instagram, Facebook and Telegram like anyone else.More important, the digital resilience of Iran’s freedom movement is a U.S. national security issue. It’s too soon to say whether these latest convulsions will topple a regime that has made war throughout the Middle East. But it’s clear that online activism was enough of a threat to Khamenei and his deputies that he tried to turn the internet off. The rest of the world should be grateful that so many Iranians have found ways to defy his orders.To contact the author of this story: Eli Lake at elake1@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Eli Lake is a Bloomberg Opinion columnist covering national security and foreign policy. He was the senior national security correspondent for the Daily Beast and covered national security and intelligence for the Washington Times, the New York Sun and UPI.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.