Lyft Removed Surge Caps But Didn’t Tell Its Users

In this day and age taxis are facing more and more competition from the likes of apps such as Uber and Lyft, where users can order up a “ride” through their smartphone with everyday people picking you up in their cars. Part of the new system is the “surge” calculation, something that Lyft removed from their fares without telling a single user.

The surge system is an automated system which increases the prices of rides when the system is swarmed with people ordering rides. Uber recently stated that it wouldn’t raise their prices more than 3.9 times when the DC metro was shut down, a policy that Lyft has had for a while, capping their prices at 3x the standard rate. This policy is now gone, with Lyft removing the surge back in February, but not everyone was aware.

Lyft told its drivers that its caps would be removed, but failed to disclose the information to its users. The argument is going that higher prices would encourage more drivers to pick up users, possibly increasing the number of people offering lifts via the app.

Trying to support drivers is always a nice move, but if it’s going to cost users money they may find the services less appealing and instead go back to classic taxi services.

YouTube To Hide Some New Videos Behind Subscription Serivce

YouTube has had a lot of news recently regarding its finance and more particular how people on it have asked for money or how it hopes to make some more money. Recently an indie games studio approached a YouTuber who requested around $22,000 to publicly review their game.

It has long been on the cards that YouTube may look at a subscription based model and most recently there were discussions about YouTube Red, an ad-free version of YouTube. Now it could see YouTube going up against the likes of Amazon Prime and Netflix with a new subscription service with its own programming. Expected to release more details at an event in Los Angeles next Wednesday (October 21st) the subscription service could see them bolstering the revenue they gain from their free to use but ad-supported site.

YouTube has suggested many things about the service, that it will support and contain shows from top creators while also encouraging anyone that makes an income from YouTube ads to join the service.

Are ads more trouble than they are worth? Could you see yourself playing your movies through YouTube? How much would it have to cost to interest you?

 

Intel Posts Impressive Financial Q3 Results

Intel has reported a total revenue of $14.5 billion in Q3 of this year and gross margin reaching 63%. The revenue is up 10% compared the last quarter, and the gross margin increased by 0.5 point. Furthermore,  the company procured $5.7 billion in cash from operations, paid $1.1 billion dividends and offset $1 billion to repurchase 36 million shares of stock. This is impressive given the current economic situation and demonstrates Intel’s strong position in the technology sector.

In the last decade, Intel has dominated the enthusiast CPU market and continues to be the choice for workstations and high-end machines. However, AMD’s upcoming Zen architecture could shake things up and cause a pricing war on powerful chips. Sadly, AMD’s financial position isn’t very strong and key staff members are leaving on a regular basis. Intel’s position is similar to an oligopoly as AMD tries to entice more mainstream consumers to opt for APUs.

Intel has also been working hard to improve their mobile CPUs, and embedded graphics solutions. The company’s current focus is still on engineering more efficient CPUs instead of resorting to large power demands. Whatever the case, Intel is doing quite well from a business standpoint, and looks set to weather any financial storm.

Thank you Legit Reviews for providing us with this information.

More than 70% of Facebook’s Revenue Is Mobile

Facebook has shown us a thing or two about itself in its first three years as a public company. It knows how to make serious amounts of money, is increasingly mobile and keeps attracting users even though it seems as if every person on the planet who has access to the internet already uses it.

The humongous company reported its first quarterly month earnings today. It has 1.44 billion monthly active users and another 1.25 billion on mobile devices, an increase of 13% and 24%. Facebook has an insane amount of users overall, coming in at a whopping 936 million active users every single day.

Their overall revenue rocketed up to $3.45 billion, up 42% than the same time frame last year. The shift to mobile is continuing with 73% of the company’s revenue coming from mobile adverts compared to 59% last year.

The company had net income of $1.19 billion, up 28 percent compared to $926 million for the first quarter of 2014. The company saw more than four billion daily video views. “Video is exploding on mobile,” said COO Sheryl Sandberg on the earnings call. Revenue was low compared to expectations, while profits were high, and the stock was largely flat in after-hours trading.” The Verge reported.

“Facebook’s costs were way up. It spent $2.61 billion, an increase of 83 percent year over year. Not surprisingly this shrunk its operating margin to 26 percent compared to 43 percent in the first quarter of 2014.The company’s biggest expense as a percentage of revenue was research and development, and on the earnings call the company indicated this was its biggest driver of new hiring as well.”

Sounds to us like Facebook are expanding into the market wherever they see an opportunity. Mark Zuckerberg has been adamant that the company will continue this approach and will invest in areas such as solar-powered drones and virtual reality to keep on the cutting edge of the forever changing market.

Thank you to The Verge for providing us with this information.

Image courtesy of PerthGazette

$126,000 Worth Of Bitcoin Sales Made By Overstock.com During The First Day

Overstock.com, the US-based online retail store, said last year that they will be accepting Bitcoin payments in 2014. And just like that, yesterday was Overstock’s first day of accepting Bitcoin transactions, which went incredibly well, as reports say.

In the first 30 minutes, Overstock made over $5,000 in Bitcoin transactions, which exceeded $10,000 in the following couple of hours. It is estimated that the company made around $126,000 in its first day of accepting Bitcoin currency as payment, which represents roughly 4 percent of its daily sales.

“After 21 hours on @overstock.com, we’ve had 780 #Bitcoin orders that accounted for $124,000 in sales. Wow!” said Overstock.com CEO, Patrick M. Byrne, in a Twitter post.

Bitcoin transactions are currently used in over 19,000 outlets, but Overstock is the biggest retailer which started accepting Bitcoin as a payment method. The value of Bitcoin has fluctuated the past couple of months, from over $1,000 per Bitcoin to just $640 after China announced that their central banking institutions will stop processing Bitcoin transactions. However, the currency rapidly gained back ground after Zynga announced that they will start accepting Bitcoin payments as well.

Cryptocurrency will never have a stable value on the market due to it not being backed by central governments. However, its value is based on the transactions made. The more transactions, the higher the value of Bitcoin gets.

Thank you VR-Zone for providing us with this information

Facebook Exceeds Expectations With 874 Million Monthly Mobile Users

Due to mobile advertising, Facebook’s growth in Q2 substantially increased and continued to climb up and over the 1 Billion target. Moreover, the social network’s Analysts had their expectations exceeded with over $2.02 Billion in revenue for the Q3, 2013.

The key things to point out in Facebook’s growth are:

  • September averaged 728 million, a 25% increase year-over-year, with monthly active users up to 1.19 Billion
  • Mobile check-ins grew to 874 million monthly, a 45% year-over-year increase, and 507 million daily users compared to 819 million and 469 million for those sectors during Q2
  • Ads on users’ daily drivers accounted for 49% of all ad revenue in Q3 2013 compared to 41% last quarter
  • Revenue from ads on the whole is up 66% from Q3 2012 totaling $1.8 billion
  • Net income is at $425 million in this year’s Q3 in comparison to the net loss of $59 million the outfit saw during Q3 2012

These numbers show that the gap between mobile and total active users continues to draw closer with each passing three-month period as Facebook continues the mobile push and social media increasingly becomes a chore for handsets and tablets on-the-go.

If the current pattern holds, the fourth quarter report could show that over half of the outfit’s revenue is coming from mobile advertising, especially with Instagram ads on the way shortly for its 150 million monthly active users.

“The strong results we achieved this quarter show that we’re prepared for the next phase of our company, as we work to bring the next five billion people online and into the knowledge economy,” said founder and CEO, Mark Zuckerberg. He also stated that 48 percent of daily Facebook users log-in on mobile which lends a big hand to those mobile ad numbers.

Facebook also shifts dedication to improving ads as the company focuses on “making money to make better services”. COO Sheryl Sandberg mentioned that Facebook and Instagram users spend more of their time on those two social networks on mobile, more specifically one user in every five minutes, than other popular streams like YouTube, Tumblr, Pandora and others combined in the US.

Thank you Endgadget for providing us with this information.