Posts belonging to Category GIG economy



Sales record for Amazon

Amazon.com breaks sales record for ‘Prime Day’

 Amazon.com Inc (AMZN.O) said on Tuesday its Prime Day sale was on track to be the biggest shopping event in its history by sales. The world’s largest online retailer said customers ordered more than three times as many Echo-family speakers than during Prime Day 2016, which at the time broke records for Amazon devices. Third-party sellers sold over 50 percent more items on the site by noon local time (1900 GMT) than in the same timeframe last year, Amazon said in a statement.

The company has not disclosed sales figures, overall or for the Echo. Analysts estimated last year’s event brought in well over $500 million. The news underscores Amazon’s break-neck pace of growth as more shoppers order online instead of going to brick-and-mortar stores. It also highlights the winning formula of Amazon’s shopping club Prime, the cornerstone of its business. Customers had to join Amazon Prime to get discounts during the 30-hour event. U.S. members of the club pay $99 per year for benefits like two-day shipping, and they tend to buy more goods, more often from Amazon. A timer showing when the deals would expire added further shopping encouragement.

http://www.reuters.com…   Wed.,  12  July 2017

Walmart’s online sales are exploding

Walmart Reports 63% Rise in Online Sales

Walmart’s (WMT, -0.23%) massive e-commerce investments are starting to pay off.

The discount chain reported on Thursday that U.S. online sales rose a staggering 63% in the first fiscal quarter of the year, following last year’s overhaul of its online marketplace and a series of acquisitions of e-commerce companies since then, most notably its $3 billion purchase of Jet.com. And more importantly, Walmart said comparable sales rose 1.4% at its U.S. stores, the 11th consecutive quarterly rise, and brought in more shoppers than a year earlier, in stark contrast to the traffic problems at rivals ranging from Target (TGT, +0.37%) to Macy’s (M, +0.34%). Walmart has credited its efforts to integrate its store and digital businesses so that they feed off each other.

http://www.fortune.com…  Mon.,  29  May 2017

Quant Hedge Funds

A new sort of hedge fund relies on crowd-sourcing

“QUANT” hedge funds have long been seen as the nerdy vanguard of finance. Firms such as Renaissance Technologies, Two Sigma and Man AHL, each of which manages tens of billions of dollars, hire talented mathematicians and physicists to sit in their airy offices and develop trading algorithms. But what if such talent could be harnessed without the hassle of an expensive and time-consuming recruitment process? That is the proposition Quantopian, a hedge fund and online crowd-sourcing platform founded in 2011, is testing. Anyone can learn to build trading algorithms on its platform. The most successful are then picked to manage money. Last month the firm announced it had made its first allocations of funds to 15 algorithms it had selected.

http://www.economist.com …  Thu.,  18  May 2017

Uber’s turmoil

Uber’s No. 2 executive quits after 6 months

Uber president Jeff Jones is quitting after six months on the job because of concerns over the firm’s management culture. “The beliefs and approach to leadership that have guided my career are inconsistent with what I saw and experienced at Uber,” Jones said in a statement.
Jones was second in command to CEO Travis Kalanick, running Uber’s ride-hailing operations, marketing and customer support. A former Target executive, he was named president at the end of August.

http://money.cnn.com…  Tue.,  21 March 2017

Donald Trump said to Congress that US job market sound worse than it is

Ninety-four million Americans out of the labor force?

During President Donald Trump’s speech to Congress on Tuesday night, the president looked at the current economic and political situation he took over when he came into office. In doing so, however, Trump repeated a figure that makes the job market sound much worse than it is. “Tonight, as I outline the next steps we must take as a country, we must honestly acknowledge the circumstances we inherited, ” said Trump.”Ninety-four million Americans are out of the labor force.”
That seems like a lot considering that the total US population is just over 320 million people. But consider what the Bureau of Labor Statistics is actually measuring when it counts those 94 million.

http://www.businessinsider.com…  Wed.,  01 March 2017

Europe is leading the way in AI and machine learning

Deep Tech in  Europe: even Silicon Valley wants in

The State of European Tech report points to the success of tech-based businesses or acquisitions across the continent, but at the core of this success is deep tech. When it comes to advances in AI, machine learning, VR and AR, drones, robotics and 3D printing, Europe is either leading the way, or is on par with the likes of the US. Since the start of 2015, $2.3 billion has been invested into deep tech in Europe and 2016 is on track for $1 billion – four times the amount in 2011.

http://www.wired.com … Wed.,  30 November 2016

80% of the jobs people do today won’t exist in the future

The global jobs market is on “the cusp of a radical transformation.”

Speaking at the second annual HSBC Innovation Summit in London on Friday, Gavin Patterson (CEO of BT)  said: “It’s a combination of ubiquitous networks, ubiquitous data, ubiquitous processing capabilities, sensors in everything, augmented reality, virtual reality — the future looks very, very different. “Frankly, it’s quite possible that 80% of the jobs that people do today won’t exist in the future. It’s not quite clear where we go from here.”

http://www.hsbc.com … Sat,  29 October 2016

Toyota investing in ride-hailing company Uber

After GM, Toyota deals with ride-hailing companies

Toyota said Tuesday it is investing in Uber, making it the latest car company to put money in a ride-hailing app. The Japanese company did not say how much the investment is worth. As part of the deal, Uber drivers can lease Toyota vehicles with money earned from their driving.

http://www.cbc.ca … Wed., 25 May 2016.

Driverless car laws considered as Uber tests technology in Pittsburgh

Uber’s self-driving cars are on the road

Just days after Google-owned Waze announced its entry into ride-hailing, Uber has released a photo of one of the self-driving cars it’s testing in Pittsburgh, Pennsylvania. “If you’re driving around Pittsburgh in the coming weeks you might see a strange sight: a car that looks like it should be driven by a superhero,” Uber writes on its blog. “But this is no movie prop—it’s a test car from Uber’s Advanced Technologies Center (ATC) in Pittsburgh.”

http://www.qz.com … Fri., 20 May 2016.