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Facebook to alert affected accounts

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Facebook Informing to affected People

After all the criticism to Facebook for its Cambridge Analytics Scandal, Facebook has taken initiative to alert every affected account that is all 87 million users including all Indian users as well. In this Scandal, data analytics firm took all the personal information from social networks to influence voters.

This news comes before CEO Mark Zuckerberg’s meeting with Testify, for the Facebook’s role in this scandal.

It is important to note that 87 million is just not an accurate count of the number of accounts affected says, Mark Zuckerberg.According to him, Facebook noted this number by calculating the maximum number of friends a user could have while using the personality quiz designed by Cambridge Analytics and due to lack of logs, Facebook is unable to determine the accurate count of affected accounts.

According to Christopher Wylie, a worker at Cambridge Analytica who exposed this data collection told that this count can a lot bigger than estimated and the data might be stored in Russia as, Aleksander Kogan, the data scientist who worked with this firm frequently traveled to Russia from the UK.

Meanwhile, Cambridge Analytica says that they only had data of 30 million users.

It is the hardest time for Facebook as it is being questioned for its privacy scandal and also its valuation has dropped to $456 Billion from $556 Billion.

That’s all for this news, do comment down below what do you think, will Facebook be able to recover from this scandal.

Business

Origin of McDonald’s

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McDonald’s is a real estate business. That might sound surprising: After all, who hasn’t at least once in their lifetime indulged in the glorious experience that is a Happy Meal? You might know McDonald’s as that fast food chain that sells hamburgers and fries, but trust me, it goes way deeper than that. That’s why we’ll be looking at the world’s second-largest restaurant chain, McDonald’s.
Few things sound as Irish as the name McDonald. It’s an interesting name: the ‘mac’ part means son, while Donald comes from a Gaelic name that means ‘Ruler of the World’. Very ominous, right? The two ‘world-rulers’ that we’re interested in are Richard and Maurice McDonald, two brothers from New Hampshire.
In the 1920s they moved to California, where they started a movie theater and a hotdog stand, but they eventually went bust when the Great Depression came around. Their first big success came in 1940 when they opened a barbecue joint in San Bernardino.
Now at the time, virtually all restaurants were mom-and-pop establishments, with their own unique taste and cooking methods. Drive-ins with roller skating waitresses were all the rage back then, but they weren’t particularly efficient. You had to wait half an hour to get your order, and half of the time they got it wrong. The McDonald’s barbecue was no different, and although it did turn a profit, the brothers knew they could do better.
They realized that most of their income was coming from just three products: hamburgers, french fries, and coke, and after running the place for 8 years, the brothers decided to make a radical makeover. They dropped most of their menu to focus on their best sellers, and then they redesigned the entire kitchen around that.
The cooking process started to look like an assembly line, which allowed the brothers to fill customer orders in as little as 30 seconds. They abandoned the drive-in concept in favor of a walk-up counter, and they stopped using
cutlery and dishes entirely, replacing them with disposable paper packaging. In an instant, their restaurant became a sensation, drawing in attention from across the country.
One of the people they attracted was the guy, Ray Kroc. He was a natural-born hustler, who at the age of 15 had lied his way into serving as a Red Cross ambulance driver during World War 1. Interestingly enough, he served alongside Walt Disney in France, but they didn’t really keep in touch after the war. Like most people from the postwar years Ray had worked dozens of jobs: jazz pianist, radio DJ, paper cup salesman, you name it.
In the early 1950s, he was traveling cross-country trying to sell expensive milkshake machines, but he wasn’t really doing a good job at it. One day in 1954, however, he got an order for 8 of them, and it was from none other
than the McDonald brothers. When Ray made his way to San Bernardino, he fell in love with their restaurant and immediately offered to franchise it.
By that point, the McDonald brothers had already opened over 20 franchise locations, but none of them were doing as well as the original restaurant: The lack of oversight made maintaining quality impossible. The brothers decided to give Ray a shot, and boy did deliver.
He handpicked only the best franchisees and ran his operations like an army drill. In the span of just 6 years, Ray built 100 McDonald’s restaurants, while the McDonald brothers were basically managing their own joint. Ray eventually grew tired of them: they’d reap 0.5% of all sales for doing nothing while roadblocking Ray’s suggestions for improving the franchise.
To cut them out, Ray figured out a brilliant strategy. He’d buy the land where all future restaurants would be built upon, and then he’d lease it to his franchisees. This way Ray got to keep almost all of the profits from the business while leaving the McDonald brothers empty-handed.
Of course, the brothers weren’t very happy at that, but there wasn’t anything they could do, and in 1961 they finally agreed to sell their franchise to Ray for $2.7 million. With the brothers out of the way, Ray stepped on the accelerator, implementing all the changes he had wanted like redoing the logo and creating a mascot.
He also expanded the menu, adding the Filet-O-Fish in 1965 and the Big Mac in 1968. That same year Ray celebrated opening store #1000 and adopted the modern iteration of the golden arches logo. Throughout the next decades, McDonald’s would keep expanding, and not just in the US. They pioneered breakfast fast food with the introduction of the Egg McMuffin in 1972. They also added stuff like Chicken McNuggets and the Happy Meal, which would eventually make them the world’s largest toy distributor.
By 1988 they had 10,000 restaurants, and although Ray was no longer alive, the company kept on growing without him. Thanks to their iconic Hamburger University, the McDonald’s franchise had some of the best-trained managers in the fast food industry.
This allowed them to stay one step ahead of competitors like Burger King and Wendy’s. Since then, McDonald’s have continued expanding their menu into what we know today.
In 2006 the franchise underwent its first major redesign since the 1970s, adopting the so-called “Forever Young” design, which features dining zones with comfortable sofas and armchairs.
Interestingly enough, today McDonald’s isn’t the world’s’ largest restaurant chain: That title goes to Subway, who have almost 45 thousand locations compared to 37 thousand for McDonald’s. The company itself owns only 15% of them, the rest being franchised out.
The restaurants ran by the company account for 2/3rds of its revenue, but that’s not the whole story. In reality, it costs way more to run your own restaurant than it does to sit back and collect rent. In 2014, for example, company-operated stores generated $18.2 billion, but McDonald’s got to keep only 2.9 billion. In comparison, out of the $9.2 billion coming in from franchisees, the company kept 7.6, a stunning 80%.
So even though McDonald’s seems to be flipping burgers, in reality, they’re playing Monopoly instead.
So this was all how the McDonald’s restaurant chain started.
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Tech

What is Flipkart?

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What is Flipkart?

Flipkart is India’s Amazon. It’s the country’s largest online retailer. In 2018 retail giant Walmart announced its intention to acquire a controlling stake in the company for $16 billion, making this the largest e-commerce acquisition, ever.

Flipkart was founded here in Bangalore in 2007 by Sachin Bansal and Binny Bansal, two Indian software engineers, that happen to share the same surname. They both worked for Amazon in the U.S. before returning to India to start their company.

Like Amazon, Flipkart began as an online bookstore. In its first full year of business, it delivered nearly three and half thousand shipments of books. Now its website has 10 million page visits a day and sells more than 80 different categories of goods, which includes everything from food processors to yoga mats.

This expansion has been supported by the company’s own digital ecosystem. In 2009 it founded Ekart, its in-house supply chain arm.

Ekart is now India’s largest logistics company delivering 10 million shipments a month for Flipkart, as well as independent brands and sellers. It also owns PhonePe, an app the company acquired in 2016, which helps facilitate electronic payments throughout the country. In addition, Flipkart’s purchase of two of India’s leading online fashion retailers, Myntra and Jabong ensured the company remained the leading player in India’s online retail industry.

Flipkart’s strong position in the market attracted $1.4 billion of investment in 2017 from the Indian e-commerce market as a whole is set to quadruple to $200 billion in the next eight years, and by 2034 it’s predicted to surpass the U.S. as the second largest e-commerce market in the world.

The predicted growth in e-commerce has increased competition between the big online retailers. Amazon has been taking on Flipkart in its own backyard. Both have been offering massive sales and discounts pegged to Indian festivals as they battle it out for more customers.

While Amazon’s size and profitable cloud computing service allows it to absorb these costs, Flipkart has suffered losses in its struggle to compete. However, the Flipkart Group as a whole still has the largest share of the market and remains the e-commerce leader in India.

Walmart’s online sales, however, account for just a little more than three and a half percent of its business in the U.S. Acquiring Flipkart gives them a considerable foothold in the sector. Yet when news of the deal broke, the American retailer’s shares tumbled four percent with investors concerned that the company had a long way to go before becoming profitable. The acquisition of a loss-making business also cut Walmart’s profits at the end of 2018 and its earnings outlook for 2019.

Walmart Acquiring Flipkart

Walmart Acquiring Flipkart | Image Courtesy: YourStory

The company also warned that e-commerce growth would be slower next year. For Flipkart, Walmart’s investment is seen by many as a major boost to the company’s logistical operations. It will also help it move into new areas like online groceries. Along with a strong food supply chain, Walmart’s financial support will also help Flipkart keep prices low in its battle with Amazon.

Several key investors have exited the company, including co-founder Sachin Bansal, and they leave with hefty profits. Venture capital firms Accel and Tiger Global invested when Flipkart was valued at just $50 million. They have now pocketed more than 400 times what they invested and still retain some shares.

Softbank is also a big beneficiary of the deal. Its Vision Fund invested $2.5 billion in 2017 and in just over 12 months the Japanese company sold its 20% stake for $4 billion.

Co-founder Binny Bansal had planned to stay on as the company’s chief executive but resigned after an internal investigation into serious personal misconduct following an accusation of sexual assault. He still owns 4.2% of the company and remains a director on the board. Amid the controversy Walmart increased its stake in the $20 billion company from 77 percent to 81.3 percent, offering another sign of its support of an online retail market that is still small by global standards.

The value and sale of Flipkart to a major corporation like Walmart will likely encourage investors to see India’s e-commerce market as an area of growth. Already the Indian startup Ola is competing fiercely with Uber in the taxi aggregation market and both have Softbank as a major shareholder.

As the world’s major tech companies focus more of their attention on India, Flipkart may be the first of many start-up success stories emerging from the growing e-commerce space.

So, do you think Flipkart has a chance against Amazon? Comment below to let us know.

Source: CNBC International
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Why Windows Phone Failed

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Why Widows Phone failed
 Windows Phone: a product with so much potential that had everything going for it, and yet one that failed spectacularly. Despite the billions of dollars and the priceless connections of Microsoft, the Windows Phone never took off and would go down in history as one of Microsoft’s most expensive mistakes.
We’re gonna look at the reasons behind its failure and the actions Microsoft could’ve taken to possibly prevent it.
When Steve Jobs announced the iPhone in 2007 he took the smartphone world by storm. Up until then, smartphones had a big problem: they had small screens with interfaces that were hard to navigate, and the reason for that was because half of the phone was occupied by a keyboard with tiny buttons you could hardly press with any precision at all.
Apple unvield iPhone in 2007

Apple unveiled iPhone in 2007

What Steve Jobs showed to his ecstatic audience was a game changer, but it wasn’t just Apple fans there were watching. The engineers at Google, which for the past two years had been building a smartphone of their own, had to scrap their entire project and to start over with a touchscreen design. Their final product, Android, would arrive more than a year later, at which point the iPhone had taken the smartphone crown.
The iPhone’s model was built on exclusivity: it was entirely produced by Apple to establish maximal control over the user experience and the quality of the product, which allowed Apple to charge a premium for their phones.
To succeed Android would have to adopt a different strategy: instead of going for exclusivity, Google tried to be everyone’s friend, partnering up with as many phone manufacturers as possible with the selling point of their phones being the fact that they were cheap, yet functional.
For a time, the smartphone world was in balance, with Android and the iPhone occupying very distinct segments of
the market. And yet, this balance would soon be disturbed by another tech giant, Microsoft.
Now, out of the three companies, it was actually Microsoft that had the most experience with mobile devices.
Back in 1996, Bill Gates unveiled what he called the handheld PC, which was really more of a tiny laptop. The operating system it ran was known as Windows CE, which was basically Windows 3 modified to function on the lowest specifications possible.
Over the next decade, Microsoft would add features and develop this product line extensively, making another 6 full releases. Between 2006 and 2008 Microsoft’s mobile devices claimed a 15% market share, greater than any of their competitors except Symbian by Nokia.
But this success is exactly what blinded Microsoft to threat of the iPhone.
When Steve Ballmer, the CEO of Microsoft at the time was asked about the iPhone his reaction, he was like that iPhones don’t have keyboards which will not make them good email machine. Also said that $500 for iPhone is not customer friendly.
When he was asked “How do you compete with iPhone?”, he replied ” Right now we’re selling millions and millions and millions of phones a year. Apple is selling zero phones a year.”
We can clearly see the stark difference between the two men: the reporter very clearly sees the innovations
of the iPhone as a threat to the old smartphone establishment, but Microsoft’s CEO can barely look past the sales numbers. And just in case you’re thinking he’s an exception, the CEOs of Blackberry and Palm were equally skeptical of the new iPhone.
It took Microsoft a full year of declining market share to finally realize that something had to be done. Unlike Microsoft, Blackberry’s sales were still increasing, which gave them a sense of confidence they never recovered from.
Now, as they say, it’s better late than never and when Microsoft finally got around to it, their development was actually pretty fast.
Microsoft began developing a touchscreen-based mobile device in late 2008 and it took them only two years to get it ready for market. What Steve Ballmer unveiled was indeed a very unique product whose advancement of smartphone design isn’t really widely recognized, but it should be. At a time when the iPhone and Android were stuck with static icons, the Windows Phone gave you tiles with live information.

Microsoft unveiled first Windows phone in 2010 at MWC

Overall, critics had much to praise: in terms of design the Windows Phone user experience was right up there next to Apple and because Microsoft had very strict requirements for the hardware used by phone manufacturers, all of the early Windows Phones were very powerful machines for their time. And yet, Microsoft ran into a big problem very early on.
Microsoft was trying to do something very difficult: it was emulating Apple in trying to establish strict control over the user experience and hardware, but unlike Apple, it wasn’t actually making its own phones. This approach made the Windows Phone a very refined product, but the degree of control Microsoft wanted to be made working with them much more difficult for phone manufacturers compared to working with Android.
Unsurprisingly, most phone manufacturers decided to partner up with Google, which left Microsoft in a very bad position: it had a great product and no one to make it. The only saving grace for Microsoft was a lucky connection: when Nokia replaced their CEO in September 2010, the new guy, Stephen Elop, was a former Microsoft executive and the first item on his agenda was to try to restore Nokia’s declining market share by abandoning Symbian and pivoting towards Windows Phone.
Now, you can tell that this was a very premeditated plan because of this massive transition, during which Nokia completely changed their product offerings, happened in the span of a single year. Nokia started selling their first Windows Phone in November 2011 and I can tell you right away that this was possible thanks to the billions of dollars Microsoft poured into Nokia as “platform support payments”.
Nokia was supposedly paying Microsoft a licensing fee, but in reality, it was actually getting $250 million back from Microsoft every quarter, which more than made up for their expenses. Of course, the other phone manufacturers knew that this was happening, which pushed them even farther away from Microsoft.
After all, why would they fund their own development and pay a licensing fee to Microsoft, when Nokia was getting it all for free?
Effectively, Microsoft had gone all in with Nokia and there was no going back. But sadly for Microsoft, it was far too late. By the time Microsoft solved its production issue, four years after the introduction of the iPhone, it had fallen to a 2% market share. Nobody was developing applications for the Windows Phone and why would they, considering that Android and iOS were clearly the winners here.
For its first three years, the Windows Phone App Store was empty: it didn’t have Instagram, it didn’t have YouTube, it barely had anything. By 2013 the stock price of Nokia had fallen by 75% at which point angry shareholders were threatening to just fire Stephen Elop and get rid of Microsoft altogether.
In the end, that didn’t happen, Microsoft instead just purchased Nokia’s mobile phone division for $7.2 billion in 2014. Here’s the funny thing though: the very next year Microsoft wrote off their investment for $7.6 billion, and then to top things off they fired almost 8,000 employees. Microsoft kept Windows Phone on life support until October 2017, but it was clearly dead a long time before that.
And yet, it’s easy to imagine the different path Windows Phone could’ve taken had it only not been as greedy with its original philosophy. Had Microsoft been willing to compromise on its control over production, it would’ve
easily convinced the big manufacturers to use Windows Phone instead of Android.
After all back then Google had practically no ecosystem to speak of, while Microsoft had been a software titan for decades.
This was how the Windows Phone ran the path for its downfall.
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