Lennon, who had soured on venture capital, also didn involved want investors. As a result, their work was overshadowed by 23andme,
which raised $126 million and hired more than a dozen Phd geneticists to curate its own gene lists.
or say how much money Promethease is earning. e are somewhat shy about saying how much business we are doing,
and prices if more carriers are added to the mix. For instance if you see that a carrier that supported by your Apple SIM is having a sale on a short-term data plan,
and economics to figure out how best to defend itself. An initiative dubbed Sustainable Deltas 2015 was launched last month at a conference in Rotterdam the Dutch port city that includes neighborhoods 20 feet below sea level.
The point-of-sale terminal at the CVS drugstore in Palo alto, California, can accept payments through a quick tap from a smartphone.
and clicking on Google alletapp intended to allow instant payment and taps the terminal. Nothing happens.
Then he tries Paypal payment app. Nothing. Out comes the leather wallet. Over the past decade, tech companies including Google, ebay Paypal,
and upstart Square, along with mobile carriers, credit-card companies, and various retailers, have proclaimed all the eath of the wallet.
Instead, they ran into countless technical glitches, resistance from merchants, banks, and phone carriers, and consumer indifference.
Though mobile payments at U s. retail stores will nearly double this year, to $3. 5 billion, according to market researcher emarketer,
says payments expert Bill Maurer, dean of the School of Social sciences at the University of California,
That was jumped before Apple into the market with Apple Pay in a bid to take mobile payments mainstream.
Behind the scenes, a payment processor such as Visa recognizes an encrypted version of your credit card such as the one in an itunes account,
or other steps that can take much longer than swiping a credit card. Apple ability to create elegant
If Apple Pay works as promised, it could do something similar for payments, making mobile wallets appeal to the masses,
starting with its influential army of iphone users. obile payment is finally hitting that pivotal moment
In the U s. there are only about 220,000 merchant point-of-sale terminals featuring the wireless payment communications system known as near field communication (NFC.
In a bid to force adoption of more secure credit cards that use a chip and a PIN number instead of a magnetic strip for payment authentication,
Visa and other payment networks will, starting next October, make merchants liable for fraudulent charges
unless they use new readers compatible with the new cards. That expected to speed installation of new readers
and others have alerted consumers that credit and debit cards aren very secure. Such lapses expose them to identity theft
and the annoyance of being forced to change credit-card numbers on file with dozens of merchants.
& Research cited security concerns as a key reason theye holding back on mobile payments. Although credit cards are used in Apple Pay
it more secure because card numbers aren stored directly on the phone or on Apple servers.
are assigned by a payment network such as Visa to each card and stored on a secure chip in the phone.
During a purchase, that token and a onetime transaction-specific code are sent to process the payment,
t is probably the most secure mobile payment solution to date, says David Brudnicki, chief technology officer for Sequent Software,
which provides mobile wallet services to banks, retailers, and mobile operators. Improved security is even more important to banks
and retailers than it is to consumers, who have limited liability for fraudulent charges on stolen cards.
Apple Pay has signed already up the three big payment networksisa, Mastercard, and American Expresss well as banks handling 83 percent of credit card transactions in the U s,
. including Bank of america, Capital one, Chase, and Citibank. Better security seems to have made up for any reservations that banks may have about Apple role as a powerful new middleman on transactions
or the small cut of transaction revenues theyl be paying the company. Another potential bonus:
Apple Pay could help the card networks capture transactions currently completed with cash. For all that, Apple impact will be small at first.
For one, only iphone 6 and eventually iphone 5 owners with an Apple Watch can use Apple Pay.
Moreover, some merchants and banks don want to cede relationships with customers and data about them to Apple, says Richard Crone, CEO of the payments advisory firm Crone Consulting.
Large retail chains including Walmart and Best Buy, which are part of the Merchant Customer Exchange consortium pushing its own wallet app,
Paypal, soon to split off from ebay, and Google continue to push their wallet apps as well.
and holding up the phone screen with a QR code to a reader on its cash registers.
But spokeswoman Maggie Jantzen says the bigger reason that 15 percent of Starbucks purchasesome six million transactions a weekre now completed via mobile is combined the appeal of payment
Payments experts think the company will allow outside software developers to create apps that can add such features to Apple Pay.
By all accounts, it going to take years for mobile payments to catch on widely. Apple Pay success ultimately will come down to persuading consumers to change longstanding habits using payment methods that
after all, work pretty well
#Shape-Shifting Carbon Composites Could Save Fuel Airbus and researchers at MIT are developing shape-shifting materials that could make aircraft simpler and lighter potentially saving fuel.
A new device could reduce that waste cutting fuel consumption and carbon emissions by as much as 3 percent and saving companies millions of dollars.
which should also lower prices. OLED lighting is expensive in part because manufacturers typically use equipment developed for making high-resolution displays,
But there are numerous problems with this dream of a hydrogen-based economy. One is that hydrogen is difficult to store efficiently.
The bond between hydrogen and carbon is known to be quick and reversible. What more, it is relatively straightforward to create strong, porous carbon with a high surface area.
To make money it plans to take up a freemium model where it sells features to users.
Brain Corporation hopes to make money by providing its software to entrepreneurs and companies that want to bring intelligent low-cost robots to market.
which is an investor in Brain Corporation. At the Mobile Developers Conference in San francisco last week a wheeled robot with twin cameras powered by one of Brain Corporation s circuit boards was trained live on stage In one demo the robot called
and making sure the genes are stable says Dean Price a professor of medicine biology and environment at Australian National University.
Price was involved not in the current research. Only then can extensive field testing begin along with the regulatory process for genetically modified crops.
However Price says there are genetic workarounds that could quickly make it possible in a wider range of crops s
He said he hoped the price would stay very cheap in the future. Last week Oxford's chief technology officer Clive Brown said further instruments would be announced soon.
and even high cholesterol in its development pipeline and has three in human trials progress that led the pharmaceutical company Sanofi to make a $700 million investment in the company last winter.
By 2010 some of the major drug companies that were working with and investing in Alnylam lost patience.
Alnylam sees the potential for billions of dollars in revenue from liver-related diseases. Yet most diseases involve other tissues in the body.
which is operating on $2. 5 million of seed funding, is in discussions with researchers at the University of Illinois to prove the advantages of its approach.
#Datacoup Wants To buy Your Credit card and Facebook Data Datacoup one of the first companies to offer people money in exchange for their personal data has closed finished a trial of its service
and is now opening it to anyone (see Sell Your Personal data for $8 a Month).
Datacoup will pay up to $10 for access to your social network accounts credit card transaction records and other personal information and will gleaned sell insights from that data to companies looking for information on consumer behavior.
and financial institutions says Matt Hogan CEO of the startup. Whether an individual user gets the full $10 a month
Options include debit card and credit card transactions and data from Facebook Twitter and Linkedin. Datacoup won t provide raw data to companies.
For example a company might ask Datacoup to provide information on how often women in a certain age group mention coffee on Facebook on the same day they use their credit card in a coffee shop.
Donald Waldman a professor of economics at the University of Colorado says services like Datacoup may provide useful insights about the perceived value of privacy.
Hogan expects the price that Datacoup offers people for their data to change as his company assesses the supply of customer information
#Fingerprinting Infants Helps Track Vaccinations in Developing Countries Billions of dollars a year are spent vaccinating children in developing countries
The technology could be used in any health-care scenario where you have the potential for fraud such as insurance fraud says Jain.
Germany isn t the only country investing in hydrogen energy storage. Canada is getting in on the action too with a major demonstration facility planned for Ontario.
Because power needs to be used as soon as it s generated to keep the grid stable prices are dropped sometimes to zero
The Networked Economy No question about it: The Networked Economy is the next economic revolution. In the coming years it will offer unprecedented opportunities for businesses
and improve the lives of billions worldwide. In fact the revolution is already under way. Over the last few decades we ve grown beyond the industrial economy to the IT economy and the Internet economy each
of which led to significant inflection points in growth and prosperity says Vivek Bapat SAP s global vice president for portfolio and strategic marketing.
Now we re looking at the Networked Economy. This new economy resulting from a convergence of the economies that came before it
and catalyzed by a new era of hyperconnectivity is creating spectacular new opportunities for innovation.
And like any revolution the Networked Economy is going to be big. Very big. Over the next 10 to 15 years it has the potential to double the size of the gross world product Bapat says.
SAP estimates that the Networked Economy will represent an economic value of at least $90 trillion. Three Questions##and Answers##About the Networked Economywhat exactly Is networked the Economy?
It s an emerging type of economic environment arising from the digitization of fast-growing multilayered highly interactive real-time connections among people devices and businesses.#
#What s driving the Networked Economy? Over the past decade the world has seen significant changes in how people
What must businesses do to thrive in the Networked Economy?##First they must understand that their customers employees
But while social mobile and cloud computing helped set the groundwork for the Networked Economy it s important for businesses to understand that this revolutionary economic environment goes far beyond those technologies creating unprecedented new opportunities for collaboration and customization.
and take advantage of one of the biggest and most immediate changes of the Networked Economy:
Three Pillars of the Networked Economysap has identified three main areas where the Networked Economy is having
The Networked Economy is already helping companies provide better more personalized customer experiences. But there s much more opportunity on the near horizon.
In the Networked Economy personalization of the customer experience in almost every field from retail to medicine will be become the norm. 2. ENABLING OPEN INNOVATION.
The Networked Economy will create entirely new ways of working. It will change the contract between employers
They re completely at home in highly connected collaborative spaces like those underlying the Networked Economy.
In addition the Networked Economy relies on what SAP s experts describe as a new currency based on knowledge not on geographical proximity.
This notion that you need to live near where you work may no longer apply Bapat says.
The Networked Economy will make it possible for businesses to use all kinds of resources more efficiently##enough SAP s experts believe to move from a world of scarcity to one of abundance.
The Networked Economy is going to allow us to do just that. If there s one area where resource optimization is needed more urgently than any other it s agriculture Projections call for the Earth s population to exceed nine billion by 2050 up by about two billion from today.
The Networked Economy is the key to unlocking it. The Networked Economy: Meeting the Challengesas with any revolution the shift to the Networked Economy comes with a whole new set of questions that must be answered.
The big-picture ones involve the networked information itself. The Networked Economy hinges on information
whether it s inside a business or resulting from a transaction or coming from a person Bapat says.
The questions are: Who owns that information? How is shared that information? Is it private? Is it secure?
or optimizing capacity are most likely to yield the fastest return on investment. Bapat s advice for where to start:
The potential benefits of the Network Economy far outweigh any growing pains that accompany it.
The information it collects can help companies decide where to spend advertising dollars. Advertisers want better targeting
All of that behavior can be analyzed to help Ford figure out where to best spend its advertising dollars.
Roseanne Luth, says participants can uninstall the software anytime they want (though theyl stop earning any money at that point.
The company recently raised $37 million in venture funding and it has plans to scale up production
With economies of scale however such cells could improve the economics of solar power. At a scale of 80 to 100 megawatts a year of manufacturing capacity a cell with 50 percent efficiency would make it possible to reach costs of less than five cents per kilowatt-hour Burroughs says.
With the right price and features, it could soon be easier to convince people to pick up a pair of earbuds that also happen to monitor your heart rate than a smart watch that does the same.
This month, the company received the first installments of a $2. 2 million grant from ARPA-E. The ARPA-E funding will allow the company to scale up from prototypes just 2. 5 centimeters across to make 30
and IBM to invest in technologies from data-capturing smartphone apps to billion-dollar analytical systems.
Venture capital firms like Greylock Partners and Kleiner Perkins Caufield & Byers as well as the corporate venture funds of Google, Samsung, Merck,
The groups that control the most medical data today are insurance companies and care providers, and their data analysis is already beginning to change health care.
The company recently secured $6 million in funding from Phoenix Venture Partners, as well as AME Cloud Ventures, the venture fund of Yahoo cofounder Jerry Yang, to further develop its proprietary chemistry and finance the batteriescommercial launch.
Previous investors have included CIA-backed venture firm In-Q-Tel and Dow chemical. The batteries are based on research that company cofounder Christine Ho began as a graduate student at the University of California, Berkeley,
where she collaborated with a researcher in Japan to produce microscopic zinc batteries using a 3-D printer.
despite extraordinarily rapid revenue growth costs far outpaced receipts ($168 million out $124 million in for the year ending January 31 2014).
The stock market chose the same moment to pound cloud-software companies giving rise to reports that Box would postpone its public offering.
##and in late June accepted a $150 million investment making it one of only a handful of companies in recent years to have raised funds privately after filing to go public.
The cash infusion extends the company s runway for another year at least buying time to sign up more prestigious customers boost revenue and cut expenses.
Box s extraordinary burn rate reflects the brutal economics of storage-as-a-service. The price of hard disk capacity per megabyte plummeted from $700 in 1981 to two-tenths of a cent in 2010.
The cloud offers a plethora of free options: 50 gigabytes at Mega one terabyte at Flickr. This week in fact Box announced that it would offer unlimited storage to customers of its business product.
and real money to spend on solving them. It has sparked also a price war that so far has seen Google drop prices
and Microsoft boost per-customer storage allotments. Box for its part can t afford to be drawn into a race to the bottom.
The agency said in December it intended to use its negotiating power to drive prices down.
crossing a long-anticipated price barrier (see oes Illumina Have the First $1, 000 Genome?.
Illumina made sure the lower costs of its new system did not widely affect prices in other parts of the sequencing market,
the price per genome is still closer to $2, 000 than $1, 000. Parry says Illumina will carry out the sequencing on behalf of Genomics England,
hacktivists, and governments who can invest big money to craft attacks that deliver massive payoffs.
Bitcoins Bitcoins only have value when the transactions are confirmed by at least six members of the peer-to-peer network.
Users who participate in transaction confirmations are rewarded with Bitcoins, a process that is called mining. As the value of a Bitcoin has increased,
mining has become harder, because more people want to do it. Today, to make real money at mining Bitcoins,
you need powerful computers but those computers don necessarily have to be yours. Some of the largest botnets run by online criminals today are monetized by mining.
for example, may be mining Bitcoins worth tens of thousands of dollars a day for a Russian cybercrime gang.
Cyber-spies Companies and governments spend money on espionage. Cyber-spies use rojansand ack doorsto access data on their targetscomputer networks,
Mining personal data is a billion-dollar business (see he Data Made Me Do it designed to elicit purchases, garner eyeballs,
#3-D Mammography Shown to Improve Detection of Invasive Breast cancer A new 3-D imaging technology that typically isn covered by health insurance allows radiologists to detect more cases of invasive breast cancer than traditional mammography,
Besides, Solar City may need to take the risk of investing in a large new manufacturing plant in New york. Existing subsidies that have helped the company grow quickly in recent years may soon disappear.
The investment should pay for itself within a few years and the advantages that should be possible in influencing yields
Microsoft s Quantum Search for The next Transistor Microsoft is making a significant investment in creating a practical version of the basic component needed to build a quantum computer,
Google s entry into municipal fiber markets has tended to drive down prices and improve service offerings from existing ISPS according to some analyses (see Google Fiber s Ripple Effect
and very high prices for Internet connectivity that could be a game changer for a huge swath of the globe says Rob Faris research director at the Berkman Center for Internet & Society at Harvard.
because they fetch much higher prices. Its first customer is the U s. government, which needs rare earth metals for its stockpile of strategically valuable materials.
Whether the company succeeds s all about the economics, he says. o one cares about the flow chart for the process.
You care about the prices. If it produces a good metal at a lower cost,
and now the DARPA money, has created a eeding frenzyaround new technology. t a great time to do tech for the brain,
and could therefore save trucking companies millions of dollars in fuel every year. The trucks were fitted with technology developed by a startup called Peloton Tech (elotonis The french word for platoon.
Toyota, a Witricity investor, plans to use its technology in forthcoming electric and hybrid cars, and TDK recently licensed Witricity for use in electric car batteries.
Now the price of one key technology that allows this, and has many other applications besides,
costing thousands of dollars. The cheaper haptic stylus is a descendant of a product called Phantom originally invented by an MIT startup called Sensable,
CEO and cofounder of Mojio. f I being offered an insurance discount because Geico looked at my data,
000 when many conventional robots cost several hundred thousand dollars. Another robot maker, the Danish company Universal Robots, offers small, more conventional-looking robot arms that are similarly cheap ($31, 000 each), simple,
The company also recently became an investor in Tactus. The first fruit of the tie-up will go on sale later this year in the form of a protective case with Tactus technology inside for Apple ipad Mini.
and the expense and delay of paying for small runs at dedicated plants. Wong-Foy also thinks his approach might be useful for assembling devices that combine electronic and optical components, for example to interface with fiber optic cables.
According to a presentation to investors, it would lower costs by 30 percent. Tesla has a good track record for reducing battery costs (see riving Innovation,
making it a risky investment. One potential market, using batteries for storing electricity power on the grid,
which goes on sale next month for a starting price of $29, 900. Data plans will cost extran average of around $16 a month.
By providing apps, carmakers see an opportunity for product differentiation and steady revenue streams. They also suggest that connectivity can lead to new safety features
or driving efficiencyr to generate data for insurance discounts. Apps tapping information from many cars could alert drivers to accidents;
GM has announced not pricing except to say that customers can get various plans combining service to their homes, phones, and cars.
Retrograde technology is winning money and resources. Following the Snowden revelations, Russia secret service reportedly placed an order for $15, 000 worth of typewriters and ribbons.
a former Israeli intelligence officer now working in IT SECURITY for the Bank hapoalim Group, in Tel aviv. In this new context, nobody can say where the responsibilities of a company may end
Should a commercial bank be expected to expend resources to defend itself when its attacker is a country?
Chinese researchers have developed successfully the first automated teller machine (ATM) with facial recognition technology to reduce the risk of theft,
but the new machine, which combines high-speed banknote handling, improved counterfeit-bill recognition and facial recognition, was wholly Chinese.
Cash machines using fingerprint authentication have sprung up in countries like Chile and Colombia though these biometric ATMS have not found favour with some countries like the United states because of privacy concerns and its high cost.
The new ATMS are expected to connect with the country's banks and public security networks, which allows only guarantees that only cardholders to withdraw money,
even if someone else knows the password. But opponents to the technology have taken voiced their concerns about privacy and accuracy online."
Chinese researchers have developed successfully the first automated teller machine (ATM) with facial recognition technology to reduce the risk of theft,
but the new machine, which combines high-speed banknote handling, improved counterfeit-bill recognition and facial recognition, was wholly Chinese.
Cash machines using fingerprint authentication have sprung up in countries like Chile and Colombia though these biometric ATMS have not found favour with some countries like the United states because of privacy concerns and its high cost.
The new ATMS are expected to connect with the country's banks and public security networks, which allows only guarantees that only cardholders to withdraw money,
even if someone else knows the password. But opponents to the technology have taken voiced their concerns about privacy and accuracy online."
At the moment, a high-tech foot model costs between 10,000 euros ($11, 240) and 30,000 euros. Egger believes his latest project could vastly improve quality of life for amputees,
At the moment, a high-tech foot model costs between 10,000 euros ($11, 240) and 30,000 euros. Egger believes his latest project could vastly improve quality of life for amputees,
partly due to financing and partly because Chinese are interested less in sport than people in Western countries,
Wall street investors and analysts had been hoping for a 50%improvement in growth rate, and Biomarin shares rose 6%in after-hours trading.
''We think that we will need 25,000 euros to make it, 'explains Julie Dautel, a designer who is currently studying at the Sciencespo Paris research university.
Zephyr has received already around ten thousand euros from the various prizes that it has won and a fundraising campaign is planned to run from September 2015 to January 2016.
The team hopes to use this investment to take on additional staff, particularly engineers. The two young entrepreneurs want to turn this student project into a start-up.
More investment (one million euros) will be required at this later stage. In the long term, the aim is to sell an entire range of balloons adapted to generate energy in different kinds of situations,
''We think that we will need 25,000 euros to make it, 'explains Julie Dautel, a designer who is currently studying at the Sciencespo Paris research university.
Zephyr has received already around ten thousand euros from the various prizes that it has won and a fundraising campaign is planned to run from September 2015 to January 2016.
The team hopes to use this investment to take on additional staff, particularly engineers. The two young entrepreneurs want to turn this student project into a start-up.
More investment (one million euros) will be required at this later stage. In the long term, the aim is to sell an entire range of balloons adapted to generate energy in different kinds of situations,
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