Niantic Will Reportedly Settle the ‘Pokemon GO’ Fest Lawsuit for over $1.5 Million

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You’re probably aware of how big a disaster the Pokemon GO [Free] Fest was in Chicago. Eli was at the fest and was posting updates as the situation progressed. Niantic apologized for the event and posted about how they worked with a partner who spoke to major carriers to ensure everything goes smooth. Things obviously didn’t turn out well and some people sued. We hadn’t heard anything about this until now and it looks like Niantic is going to settle it and a dedicated website will go live for the settlement.

A TechCrunch report has now been published stating that Niantic will finally settle the lawsuit by paying out over $ 1.5 million dollars. This is to cover the costs attendees picked up on the way to the event including hotel costs, airplane tickets, pariking fees, and more. An official website is supposed to go up for the settlement. People claiming to be a part of the settlement will need to have been checked in at the fest.

Any money left over after all claims and lawyer fees in addition to other costs will be split evenly and donated to the non profit organization Chicago Run and the Illinois Bar foundation. No money will come back to Niantic as per the report. If you missed out on the fest, read up here on what actually went down.

[TechCrunch]

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Niantic settles ‘Pokémon Go’ festival lawsuit for $1.5 million

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Niantic has already refunded the ticket costs for attendees of 2017's disastrous Pokémon Go Fest, but it's now poised to pay more. The company is settling a class action lawsuit over the festival to the tune of $ 1.57 million, with an official…
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Gartner: Global expenditure on IoT security to hit $1.5 billion in 2018

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A new report from Gartner has projected that expenditure on IoT security across the globe will hit $ 1.5 billion in 2018 from $ 1.2 billion in 2017 due to the growing efforts from enterprises to shield themselves from IoT-based threats.

The analyst firm found that over the last three years, nearly 20% of enterprises were hit by at least once IoT-based attack.

Ruggero Contu, research director at Gartner, said: "We expect to see demand for tools and services aimed at improving discovery and asset management, software and hardware security assessment, and penetration testing. In addition, organisations will look to increase their understanding of the implications of externalising network connectivity. These factors will be the main drivers of spending growth for the forecast period with spending on IoT security expected to reach $ 3.1 billion in 2021.”

According to Gartner forecast, the leading obstacle to IoT security spending growth will arise from a lack of prioritisation and implementation of security best practices and tools in IoT initiative planning. This will slow down the possible expenditure on IoT security by 80%.

By 2021, regulatory compliance is predicted to emerge as the major influencer for IoT security uptake.

Contu said: "Interest is growing in improving automation in operational processes through the deployment of intelligent connected devices, such as sensors, robots and remote connectivity, often through cloud-based services. This innovation, often described as Industrial Internet of Things (IIoT) or Industry 4.0, is already impacting security in industry sectors deploying operational technology (OT), such as energy, oil and gas, transportation, and manufacturing."

Earlier this month, a new report from Navigant Research held the increasing popularity of IoT was one of the primary reasons behind greater cybersecurity attacks against enterprises and utilities.

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Gartner: IoT security spend hitting $1.5 billion – but strategy poor

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Worldwide spending on Internet of Things security will hit $ 1.5 billion in 2018, a 28 per cent increase from 2017, says Gartner.

However, the analyst company warns that IoT security is being left up to business units, with a lack of overall business strategy, poor “security by design”, and little control over the technology within connected devices.

Its report, Forecast: IoT Security, Worldwide, 2018, says that IoT-based attacks are already a reality. A recent Gartner survey found that nearly 20 per cent of organisations have experienced at least one IoT-based attack in the past three years.

“In IoT initiatives, organisations often don’t have control over the source and nature of the software and hardware being used by smart connected devices,” said Ruggero Contu, research director at Gartner.

“We expect to see demand for tools and services aimed at improving discovery and asset management, software and hardware security assessment, and penetration testing. In addition, organisations will look to increase their understanding of the implications of externalising network connectivity.”

These factors will be the main drivers of growth in IoT security, with spending hitting a forecast $ 3.1 billion in 2021, says the company.

How the market breaks down

Gartner explains that endpoint security spending will be roughly one-third of the value of professional services security spending this year: $ 373 million against $ 946 million. Meanwhile, gateway security spending is forecast to hit $ 186 million.

However, in 2021 professional services security spending is likely to exceed $ 2 billion, with endpoint security hitting $ 631 million, and gateway security $ 415 million.

Despite healthy year-on-year growth in worldwide spending into the next decade, Gartner predicts that the biggest inhibitor to the growth of IoT security will be a lack of prioritisation and implementation of security best practices and tools. This will hamper spending on IoT security by 80 percent: an extraordinary figure.

No co-ordinated strategy

“Although IoT security is consistently referred to as a primary concern, most IoT security implementations have been planned, deployed, and operated at the business-unit level, in cooperation with some IT departments to ensure the IT portions affected by the devices are sufficiently addressed,” said Contu.

However, coordination via common architecture or a consistent security strategy is all but absent, and vendor product and service selection remains largely ad hoc, based upon the device provider’s alliances with partners or the core system that the devices are enhancing or replacing.”

While basic security patterns have been revealed in many vertical projects, they have not yet been “codified into policy or design templates to allow for consistent reuse”, continues Gartner.

“As a result, technical standards for specific IoT security components in the industry are only now just starting to be addressed by IT security standards bodies, consortium organisations, and vendor alliances”, adds the report.

This absence of “security by design” comes from a lack of specific and stringent regulations. Going forward, Gartner expects this trend to change, especially in heavily regulated industries, such as healthcare and the automotive sector.

By 2021, Gartner predicts that regulatory compliance will be the prime influencer for IoT security uptake – hence the significant uptick in spending.

Internet of Business says

As Gartner says, spending is up, but the consistent theme in all 2018 IoT security reports has been exactly the same: users’ approach to the specific problem of securing IoT implementations is lax, device manufacturers are rushing to market to compete, and strategy is poor at board level. Meanwhile, regulations are playing catchup with the market, just as the law is years behind the advance of AI in other areas of the connected world.

Read more: Cambridge Analytica vs Facebook: Why AI laws are inadequate

The result of all this is a vacuum where security policy should be, even as people are throwing money at the problem. As the IoT grows, this poses a serious challenge to decision-makers, who are leaving the big decisions to line-of-business departments that may lack both a big-picture view and security expertise.

Hopefully, Gartner’s name and reputation will persuade more people to listen to the subtext beneath the healthy spending figures.

• Just some of our 2018 security coverage so far:-

Read more: Reports reveal critical need for IoT cybersecurity upgrade

Read more: IIoT security: How to secure the ‘Internet of Threats’, by IBM

Read more: Tenable unveils cybersecurity benchmarking tool

Read more: Vendors, users ignoring IoT security in rush to market – report

Read more: IoT ramps up cyber security risk, says in-depth report

The post Gartner: IoT security spend hitting $ 1.5 billion – but strategy poor appeared first on Internet of Business.

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Fortnite has earned $1.5 million (and counting) on iOS

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Fortnite, the ultra popular battle royale game, earned $1 million in in-app purchases within its first 72 hours of landing in the App Store — and more than $1.5 million in total. That would be impressive under any circumstances. What makes this even more so is the fact that, at this point, Fortnite is still […]

(via Cult of Mac – Tech and culture through an Apple lens)

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Fortnite Raked in over $1.5 Million via IAPs in Just 4 Days

How Complete Beginners are using an ‘Untapped’ Google Network to create Passive Income ON DEMAND

Despite being available for a limited number of iPhone and iPad users on an invite-only basis, ‘Fortnite’ has already topped the chart on the App Store in over 40 countries. And now, as per data from Sensor Tower, the game has generated over $ 1.5 million worldwide within days of its release. Continue reading
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Spotify looks to go public after losing $1.5 billion in 2017

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You’ll soon be able to own a little chunk of Spotify. The streaming music service filed papers with the US Securities and Exchange Commission Wednesday to become a publicly traded company. Shares will trade under the symbol SPOT.

Spotify’s filing is unique in that there’s no specific date when shares will be publicly available or a set price at which they’ll initially be traded. Spotify is working with financial services firm Morgan Stanley to set the initial price of shares based on information provided by the New York Stock Exchange—on private exchanges, shares have traded as high as $ 132.50.

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Spotify looks to go public after losing $ 1.5 billion in 2017 was written by the awesome team at Android Police.

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Faraday Future may have received a $1.5 billion lifeline

To say Faraday Future has had a rough time would be an understatement between its financial crisis, executive exodus and CEO troubles. However, things might be looking up for the electric car maker. A Business Insider source has claimed that an un…
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Verizon will pay more than $1.5 billion to stream NFL games

The wireless carrier is making a big bet on its pro football deal — but it will no longer have exclusive mobile rights.

Fundamental question for the media business: Just how much are big-time sports rights worth these days?

Here’s Verizon’s answer: More than they used to be.

The wireless carrier is re-upping its deal with the NFL, and sources say it will pay more than $ 1.5 billion over five years to stream live games to its subscribers. Verizon is making the move in large part to boost the AOL and Yahoo properties it has spent billions on in the past few years.

Verizon’s last deal with the NFL, which runs through the current season, cost the carrier $ 1 billion over four years. That means Verizon is paying at least 20 percent more per season for the games.

The deal comes as traditional TV executives have started questioning the value of sports deals, even though live sports are one of the last things that can command big audiences. Leagues like the NFL, meanwhile, have been hoping that new buyers, like Facebook and Google, will come in and push the value of deals even higher.

Besides the price, the big change between the old deal and the new one is that Verizon won’t make the streams exclusive to its subscribers anymore. Instead, it will stream the games on a variety of Verizon-owned properties, including Yahoo, AOL, Go90 and Complex to any phone or tablet in the U.S..*; it will focus in particular on its Yahoo Sports hub.

As before, Verizon won’t stream every NFL game throughout the season: It will stream evening games on Sunday, Monday and Thursday nights, along with the games local TV affiliates carry (in New York City on Sunday, that meant I could stream the Giants-Cowboys, Jets-Broncos and Eagles-Rams games on my iPhone).

All of the games will be free, regardless of which carrier you have. I don’t know whether Verizon plans on offering its subscribers a deal on broadband usage, though.

Verizon will also get so-called “shoulder” content, which is media-speak for “not the thing that you really want but we think there’s some value in there anyway.” In this case, that means clips and highlights, and the right to call itself an Official Sponsor of the NFL.

Big Takeaway: This reads like a Big Win for the NFL, at a time when the league could use one. It gets Verizon to pay more for its games, and distribute them more broadly than before.

It’s also a signal that Verizon still thinks it was a good idea to move into the media business. And that Verizon hopes buying up Big Deal sports rights will help establish its media bonafides, much like Rupert Murdoch did with Fox and the NFL many moons ago.

If you want to take the glass half-empty take, happy to help there, too: It’s also possible that this is the last big price-hike the NFL will be able to enjoy. In that scenario, by the time its next big TV deals come up in a few years, the TV networks will be less willing to pay top dollar for sports, because audiences will keep melting away — and the digital guys won’t show up to replace the TV guys.

We’ll see. In the meantime, people who do like watching the football games on their phones will see an upside soon: Verizon and the NFL say they’ll have the expanded streaming deal in place at some point in January, and at the latest in time for the championship playoff games January 21.

* The NFL, which manages to slice up the rights to its games more thinly than any league around, has kept the rights to stream games to PCs and, more crucially, internet-connected TVs, away from Verizon.


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Venture firm IVP has raised its biggest fund yet at $1.5 billion

A sign of the times.

With valuations of private companies climbing higher and higher, some venture capital firms have a simple solution: Larger funds.

IVP, the firm founded 35 years ago that specializes in later-stage investments, on Tuesday said it had raised its largest fund yet — a $ 1.5 billion pool of money that is their 16th in the venture business.

Some of IVP’s most well-known investments in recent years include Twitter, Slack, Dropbox and Snap, though they tended to invest in those companies after some earlier-stage venture firms had discovered them.

IVP said their ability and eagerness to deploy so much cash showed that the firm was an “island of stability in the midst of the storm.”

“There’s been all kinds of bad publicity about the venture business. Valuations are too high. There’s too much money in the sector. People misbehaving,” Sandy Miller, one of the firm’s general partners, told Recode. IVP’s fund is “basically a validation that this is a healthy environment.”

IVP expects to invest in 35 to 40 companies over the 10-year fund’s lifespan; check sizes range from $ 10 million to $ 100 million.

The firm is still awaiting several large exits from some of its prospects. Dropbox is strongly expected to go public either late this year or early next year; Slack’s path toward an IPO was perhaps delayed by the millions it just accepted from SoftBank’s $ 100 billion Vision Fund.

Miller said, though, that the Vision Fund could be a force for good.

“The Vision Fund is a wild card but could be a significant factor in terms of exits for venture,” he said, explaining that investors have “new vehicles” for liquidity by possibly selling their stakes to SoftBank.

And as for Snap, which has sharply fallen since going public earlier this year?

“We’ve been disappointed with what happened in the public marketplace,” Miller said. “Whatever companies are losing money and have this high a profile — they’re going to be very volatile in the public market. But volatility can go in both directions.”


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