Amazon Shatters Sales Records. Again.; Apple Plays Nice With China’s New Laws; U.S. Gov’t Says Nyet to Cybersecurity Company

Primed for purchase…

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Image courtesy of Stuart Miles/FreeDigitalPhotos.net

If you haven’t heard by now, yesterday was Prime Day, which is basically Amazon’s answer to Black Friday deals in the middle of summer. Laugh and poke fun all you want. But if you do, the joke’s on you. Because according to preliminary figures from Amazon, not only were sales up 60% over last year’s Prime Day, but “Prime” sales for July 11 even blew past 2016’s Black Friday and Cyber Monday. In fact, Amazon called it it’s “biggest day ever.” To be fair, this year’s Prime Day was 30 hours long, compared with last year’s 24 hours. But it wasn’t just about the deals that has Amazon all giddy today. Prime Day also brought in a significant amount of brand-spanking new Prime members.  Because as everyone on Amazon already knows, if you want those super deals, you need to be a Prime member, and yesterday saw more Prime membership sign-ups than any other time in Amazon’s history. As for the most popular Prime purchase, that would be the Echo Dot for the ultra-bargain price of $34.99, which usually sells for around $50. The most popular non-Amazon item sold in the U.S. on Prime Day was an Instant Pot Pressure Cooker. I could not make that up if I tried.

Apple of China’s eye….

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Image courtesy of ponsuwan/FreeDigitalPhotos.net

Leave it to Apple to not let some vague, burdensome, newly enacted cyber-security legislation get in the way of setting up a data center in China. China’s new cyber-security laws require that any data collected on its citizens needs to be stored on servers in China. If companies want to transfer any of that information, they need to go through regulatory review and approval…in China. For Apple, complying with Chinese law means an opportunity to improve the speed and reliability of the company’s products and offerings. While other foreign firms are still busy complaining about these new regulations, calling them a burden and a threat to proprietary data, Apple gets to become the very first of those foreign companies to make the necessary changes and set up shop. The province of Guizhou will play host to the tech giant, and Apple is making down a $1 billion investment to hunker down in that region of China. However, in order for any company to do legit business in China, it needs to team up with a local entity.  So Apple will be partnering up with the Guizhou-Cloud Big Data Industry firm, where all kinds of personal information, belonging to people who own Apple devices, will be stored.

Nyet so fast…

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Image courtesy of freedooom/FreeDigitalPhotos.net

It seems like just yesterday when you would walk into your local big box electronics retailer and have salespeople urging you to get Kaspersky Labs security for your computer. The company already has some 400 million users worldwide and generated $374 million in sales in 2016 just from the U.S. and Western Europe. But it looks like those days are about to go buh-bye now that the U.S. government is moving to block federal agencies from buying the cyber-security software from the Russian-based company. It seems that Kaspersky may have enjoyed a much much cozier relationship with Russia’s intelligence agencies than it was letting on, and apparently even helped develop security technology for Russia’s spy agency, FSB. However, Kaspersky Labs is calling foul and said it is being unjustly accused. The company also voiced its complaint that there’s an inherent assumption that because it’s a Russian company, that it must be tied to the Russian government. Besides calling the claims “unfounded conspiracy theories” and “total BS,”  CEO Eugene Kaspersky also said “…as a global company, does anyone seriously think we could survive this long if we were a pawn of ANY government?”  But it seems that the U.S. intelligence and law enforcement agent seriously do think that and said as much at an open Senate hearing.

 

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Brad Pitt Thinks Costco is Setting a Bad Egg-sample; Summer Style Black Friday Results Are In.; Netflix Is Having the Best. Year. Ever.;

Hold the yolk…

Image courtesy of SOMMAI/FreeDigitalPhotos.net

Image courtesy of SOMMAI/FreeDigitalPhotos.net

It’s Brad Pitt and Bill Maher versus Costco as the A-listers take issue with the wholesaler’s egg selection. The two Hollywood celebs think Costco contributes to animal cruelty by selling eggs from caged hens. Brad Pitt sent a very polite, but strongly worded, letter to Costco CEO Craig Jelinek telling him why eggs from caged birds is such a bad idea, Bill Maher, however, took to the pages of The New York Times, penning a scathing editorial, as only he can, detailing the horrifying results from the practice. It should be duly noted that both Pitt and Maher also praised Costco for its efforts toward animal welfare. They just want to make sure that the chain makes good on its 2007 promise to only sell eggs from uncaged hens. Perhaps then will Brad Pitt and Bill Maher return to the hallowed aisles of Costco, where they will whip out their membership cards and load up their tricked out SUV’s with a year’s worth of toilet paper. And, of course, some eggs.

Was it all that and a bag of chips?

Image courtesy of  Iamnee/FreeDigitalphotos.net

Image courtesy of Iamnee/FreeDigitalphotos.net

The results are in. Kind of. Amazon’s Prime Day did manage to pull in some boffo sales and surpassed November’s Black Friday sales despite mounting criticism over the paltry selections on its  “Lightning Deals,” not to mention the not-so-deep discounts. Prime Day, which was established to honor the sanctity of the humble beginnings of Amazon just twenty years ago, pulled in 80% higher sales over this time last year. That was just for the US. In Europe, sales jumped 40% (though I suspect none of that came from Greece). With numbers like that, it seems not everybody took issue with the offerings. Take for instance the tens of thousands of people who purchased Amazon Fire Sticks. Or how about that Kate Spade bag that sold out in less than a minute. Shoppers also seemed to dig the “Lord of the Rings” blu-Ray set as Amazon sold 35,000 of them. But Wal-Mart’s not complaining either. In response to Prime Day, the world’s largest retailer offered up its own Black Friday deals, discounting some 2,000 items including an Apple iPad Air 2 for just $400. For Wal-Mart, these last three days have been some of its most successful online shopping days. Ever. Orders increased by triple digits over the same time period last year. So I guess Wal-Mart’s feeling pretty merry right about now.

No kidding…

Image courtesy of  David Castillo Dominici/FreeDigitalPhotos.net

Image courtesy of David Castillo Dominici/FreeDigitalPhotos.net

Netflix whipped out their earnings to much fanfare but little surprise. The internet streaming service picked up a few more subscribers. Make that a few million more subscribers, even scoring some record-breaking gains this year. This should probably come as no surprise since Netflix currently reigns supreme as the S&P’s fave top stock. Yes. That is a thing. International markets seem to be jumping on the Netflix bandwagon, where the service bagged some 2.37 million new subscribers. As for new subscribers on this side of the pond, Netflix gained 900,000 new customers who now get to binge watch such classics like “Orange Is the New Black.” Naturally, news of its impressive earnings caused the stock to take a nice jump today. Netflix total subscriber-ship now comes to 65.6 million people, and yet, the company is still far from its goal of conquering the world. Japan, Spain, Italy and Portugal are set to be getting access to the popular platform later this year.