Business
‘BlackBerry’ Film The Must-Have Gadget That The iPhone Turned Into A Forgotten Relic
Almost everyone knows that Steve Jobs’ unique vision, unrelenting drive, and technological skill spawned the iPhone, a cultural revolution that continues to influence culture 16 years after the late Apple co-founder first showed the device to the world.
However, when Steve Jobs unveiled the first iPhone in 2007, another smartphone was a must-have accessory. It was the BlackBerry, a device so addictive that it was dubbed the “CrackBerry” by IT nerds and power brokers huddled over a tiny keyboard best used with both thumbs clickety-clacking.
The BlackBerry is now known as “that phone people had before they bought an iPhone,” a relic so obsolete that the Canadian firm that created it is now worth $3 billion, down from $85 billion at its peak in 2008, when it controlled nearly half of the smartphone industry.
But its legacy is worth remembering, and moviegoers will be able to learn more about it in the upcoming film “BlackBerry.” The film opens in theatres on Friday and is the latest film or television series to explore technology’s penchant for innovative innovation, blind ambition, ego clashes, and power battles that morph into morality plays.
That technique has already resulted in two Academy Award-nominated films scripted by Aaron Sorkin, 2010′s “The Social Network” on Facebook’s founding and 2015′s “Steve Jobs,” about the Silicon Valley legend. Then there was last year’s rush of TV series investigating the crises surrounding WeWork (“WeCrashed”), Uber (“Super Pumped”), and disgraced Theranos CEO Elizabeth Holmes (“The Dropout”), which won Amanda Seyfried an Emmy for her performance.
The BlackBerry is now known as “that phone people had before they bought an iPhone,”
“BlackBerry” is told as a dark comedy centered on two friendly but clumsy geeks, Mike Lazaridis and Doug Fregin, who can’t seem to execute their idea to create a “computer in a phone” until they bring in a hard-nosed, foul-mouthed businessman, Jim Balsillie.
Although “BlackBerry” is based on the painstakingly researched book “The Lost Signal,” director and co-star Matt Johnson admitted in an interview with The Associated Press that he took more liberties in the film. Among other adjustments, Johnson mentioned altering some timelines, molding the company culture through his 1990s perspective, and infusing the important characters with “our own personalities and ideas.”
“But our lawyers wouldn’t let us put anything in the film that was an outright fabrication,” Johnson explained.
Johnson had to make a lot of assumptions on his part as the enigmatic Fregin, who sold all of his shares in BlackBerry’s holding company — then known as Research In Motion, RIM — about the same time Apple unveiled the first iPhone and has remained low-key ever since.
“Doug is a true cypher, he has never done a taped interview,” Johnson added, describing Fregin as a “kind of mascot figure who is tying the culture of the office together.”
Ironically, Johnson got much of his inspiration for Fregin from one of RIM’s early workers, Matthias Wandel, who released a YouTube video criticizing mistakes in the “BlackBerry” teaser. Previously, Wandel briefed Johnson on RIM’s history and even shared journals he kept during the development of the BlackBerry.
The BlackBerry is now known as “that phone people had before they bought an iPhone,”.
“I think he’ll be quite charmed when he sees the film because so many of his original notes are in it,” Johnson said of Wandel. “It’s so funny that he released that video (because) he inspired so much of my character.” I stole everything from him. I owe him a lot.”
Balsillie, RIM’s co-CEO with Lazaridis, emerges as the most intriguing guy in the film. Balsillie is portrayed by actor Glenn Howerton (best known for his role in the TV series “It’s Always Sunny in Philadelphia”) in a way that casts him as both the story’s main antagonist and protagonist, dropping f-bombs in tyrannical temper tantrums while making savvy moves that turned the BlackBerry into a cultural sensation.
“It always felt like this was a guy who weirdly felt a little outside of what people would consider to be sort of a titan of technology or business,” Howerton said of Basillie in an AP interview. “I played him almost always as someone who had something to prove, that he could play with the big boys.”
Balsillie eventually became embroiled in legal issues stemming from unlawful modifications to the pricing of stock options, a practice known as “backdating” that also implicated Apple’s former general counsel and former chief financial officer in 2007 for handling pay packages issued to Jobs. Balsillie and Lazaridis both left RIM in 2012.
Balsillie appears to be enjoying the renewed attention from the new film now that BlackBerry has receded from public consciousness, although quibbling with some aspects of his character in a recent interview with The Canadian Press.
Unlike Lazaridis and Fregin, Balsillie attended a recent screening of the film in Toronto and even walked the red carpet alongside Johnson and Howerton.
“In many ways, (Jim) was the hero, the character who changed for the better (in the film),” Johnson explained. “The audience was completely focused on him. It was almost a hallucinogenic sensation to be in the theatre with Jim, who was the one who was laughing the hardest.”
Balsillie, who is teased in one scene for not having watched “Star Wars,” told Howerton that he enjoyed seeing “BlackBerry” so much that it was the first movie he had ever seen twice in his life.
SOURCE – (AP)
Business
Forced Sale Google Chrome Could Fetch $20 Billion
Antitrust officials in the US could force the sale of Google’s Chrome browser for up to $20 billion, demonstrating the tremendous worth of the world’s most popular web browser.
Bloomberg Intelligence attributes Chrome’s projected worth to its more than 3 billion monthly active users. The US Department of Justice is preparing to request a federal judge order the browser’s separation from Google’s parent company, Alphabet.
Chrome’s worth comes from its overwhelming 61% market share and its crucial role in Google’s advertising ecosystem. User data enables businesses to better target adverts, and the browser also acts as an important distribution mechanism for Google’s AI technologies.
Industry analysts think it may be difficult to find a suitable buyer. While tech behemoths like Amazon could finance the purchase, they would likely face regulatory scrutiny.
AI businesses, such as OpenAI, may emerge as more viable contenders. They could potentially leverage Chrome to broaden their reach and develop an advertising business.
“It’s not directly monetizable,” one analyst told Bloomberg. “It functions as a gateway to other things. It’s unclear how you would assess that in terms of pure revenue generation.”
Google opposes prospective sales, claiming that they will hamper innovation. The firm does not break out Chrome’s revenue individually in its financial filings, even though the browser’s user data plays an important part in the company’s principal revenue stream, advertising.
The DOJ’s suggestion follows Judge Amit Mehta’s August decision that Google had illegally monopolized the search industry. The judge will consider the recommended remedies at a two-week hearing in April 2024, with a final judgment due in August 2025.
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Business
Bitcoin Has Set a New Record And Is Approaching $100,000.
(VOR News) – Bitcoin broke beyond the $98,000 mark for the first time on Thursday as investors awaited Donald Trump’s second term as president. All of this happened during the day. As such, cryptocurrency has reached a significant turning point.
According to Coin Metrics, the top cryptocurrency was trading at $97,541.61 during the most recent trading session. Merchants provided this information. This suggests a price gain of more than three percent during the previous trading session.
When the period began, Bitcoin peaked at $98,367.00.
During the premarket trading session, MicroStrategy, a platform that facilitates cryptocurrency foreign exchange trading and serves as a bitcoin proxy, saw a 13% gain. Coinbase, on the other hand, had a 2% rise during that period. Furthermore, all of these increases occurred simultaneously.
The market value of Mara Holdings increased by 9%, which helped raise the valuation of mining companies overall. This was among the factors that led to the total rise.
Because of the widespread belief that President Trump will usher in a new era of prosperity for cryptocurrencies, one marked by more favorable laws and the possible creation of a national strategic bitcoin reserve, the price of Bitcoin has been rising steadily this month.
The most recent change brought about by the increase was the consequence of higher financing rates and more open interest in the futures market during Asian trading hours. The rise was the catalyst for this change. This action was prompted by the ensuing rush.
Throughout its lifespan, this legislation was the catalyst for this change for a variety of reasons. At the same time, spot market premiums decreased, according to CryptoQuant statistics. All of this happened at the same time.
Furthermore, a number of short liquidations have been sparked by the recent spikes in Bitcoin’s price, which has caused the price to rise overnight. As a result, the price has gone up much more. As a result, the total number of short liquidations has increased.
According to CoinGlass, these liquidations have effectively produced more than $88 million in capital during the last 24 hours.
Rob Ginsberg, an analyst at Wolfe Research, noted in a study released on Wednesday that “historically, following previous movements of this magnitude, Bitcoin has either entered a consolidation phase or disregarded the overbought condition as investors accumulate.” This phrase relates to the fact that this particular move has happened before.
Ginsberg stated this in reference to the evolution of Bitcoin over time.
Ginsberg’s answer makes reference to Bitcoin’s propensity to go through a period of consolidation. The comment also made reference to this.
He said, “Considering we are emerging from an extended consolidation phase and the price has reached a new high, it suggests that the pursuit is underway.”
The crucial psychological milestone of $100,000 is expected to be reached in the upcoming weeks, and this breakthrough could happen as early as Thursday. It seems likely that this level will be reached. There is a chance that this new development will take place.
This task will be carried out against the backdrop of this historical era. In addition, if Trump were to win a second term, federal budget deficits would increase, inflation would likely increase, and the dollar’s position in international affairs would change.
The administration that Trump would run during his presidency would be responsible for these consequences. All of these characteristics would positively impact the value of Bitcoin as a currency if they were taken into account in the order that they are presented.
The price of bitcoin had risen by more than 130% by the beginning of 2024.
SOUREC: CNBC
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Business
Target Struggles in the Third Quarter: Offers Tempered Holiday Outlook and Price Cuts
(VOR News) – Target experienced a modest rise in sales during the third quarter; nevertheless, profitability declined due to reduced customer spending attributed to inflation and adverse effects from the ongoing costs associated with the October dockworker strike.
Despite ongoing consumer expenditure in the United States, but with more prudence, the Minneapolis retailer did not meet Wall Street’s forecasts for the quarter and similarly disappointed industry analysts with its projections for the final quarter of the year.
Target’s reduction in prices for Christmas products, including a Thanksgiving promotion that lowered the cost of the holiday feast relative to last year’s total, raises concerns about disappointing quarterly results.
Target’s latest quarter sharply contrasts with competitor Walmart, which reported another quarter of exceptional revenues on Tuesday and provided positive forecasts for the forthcoming holiday season. Amazon disclosed last month that its quarterly profits had risen. Amazon surpassed projections with an 11% rise in quarterly revenue.
Target fell over 21% on Wednesday morning.
Chairman and CEO Brian Cornell stated, “We encountered distinct challenges and financial constraints that impacted our overall performance.”
FactSet reports that Target’s net income for the quarter ended November 2 was $854 million, or $1.85 per share, markedly below the anticipated $2.30 and a decline from $971 million, or $2.10 per share, in the same quarter of the previous year.
Despite an increase in sales to $25.67 billion from $25.4 billion the previous year, they fell short of Wall Street’s projections.
Target announced that for the fiscal fourth quarter, it anticipates earnings per share to fall between $1.85 to $2.45. This amount is below the $2.65 per share forecast by analysts surveyed by FactSet.
The retailer announced that in the third quarter, its comparable sales, derived from stores and digital platforms operational for a minimum of one year, increased by 0.3%.
This is inferior to the second quarter’s 2% growth. Several months of decreases, comprising a 3.7% reduction in the first quarter and a 4.4% reduction in the company’s final quarter of 2023, were counterbalanced by the rise in the April–June period.
Cosmetics sales rose by almost 6%, whilst food, beverages, and necessities such as shampoo experienced gains in the low single digits relative to the previous year.
The positive attributes were negligible. Target’s quarterly customer traffic rose by 2.4%. Target officials report that this represents an increase of 10 million sales transactions compared to the previous year. Digital comparable sales rose by 10.8% due to a 20% enhancement in same-day delivery facilitated by the Target Circle loyalty program and double-digit growth in its drive-up service.
Target encountered several challenges.
Target’s food and beverage sales constitute under 25% of overall sales, indicating a greater dependence on luxury items such as apparel and accessories.
Target management acknowledged that the company, similar to other retailers, had to redirect specific items due to the strike of 45,000 dockworkers, the first occurrence since 1977.
The accumulation of commodities in warehouses escalated operational expenses and diminished corporate earnings.
The commitment by President-elect Donald Trump to impose elevated import tariffs is resulting in difficulties for Target and other enterprises. Trump advocates for a 60% tariff on Chinese imports and a 20% levy on all other products. Cornell stated that, despite monitoring trends meticulously, the corporation has prioritized diversifying its supplier network.
“Currently, there exists considerable uncertainty regarding future developments, and we will exercise our flexibility to adapt as necessary,” he stated on the call.
Buyers remain apprehensive due to ongoing uncertainty, as prices, albeit decreasing, remain elevated compared to a few years prior.
“They are exhibiting significant patience, pursuing promotions and outstanding value on essential pantry items,” Cornell stated during a conference call with reporters. “Over the year, they have consistently focused on discretionary categories and are practicing prudent shopping behaviors.”
Target officials indicated a decline in television purchases, although they expressed interest in incorporating candles, frames, and flowers into their home décor.
Target has been reducing prices to boost sales. Last spring, it reduced costs for numerous essentials, including milk and diapers. Almost fifty percent of the numerous goods offered this Christmas are priced below $20. Target is offering a Thanksgiving dinner bundle for four people at $20, which is $5 less than its 2023 Thanksgiving meal package.
SOURCE: USN
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