 Coming up on DTNS a check-in on the trends in fintech out of the fin of eight conference why Facebook won't have to take down Post worldwide just because the EU says so and your cable bill is much bigger than you think This is the Daily Tech news for Thursday October 3rd 2019 in Los Angeles. I'm Tom Merritt and from studio feline I'm Sarah Lane from Oakland, California. I'm Justin Robert young and I'm Roger Chang the shows producer Very excited to have Tony Staley product development at the Ohio Valley Bank with us today Tony was just at the fin of eight conference and we're gonna talk to him. It's about some of the trends in fintech Tony Thanks for joining us Thank you for having me glad to be here. We're also gonna get your opinion on your cable bill as well in a little bit It's not good We were just talking on the good day internet show about hamburgers and funerals So if either or both of those sound interesting you can get that show by becoming a patron at patreon.com DTNS let's start with a few tech things you should know Apple analyst Ming-Chi Kuo has information indicating that Apple will launch the next version of the iPhone SE 2 In the first quarter of 2020 the phone will reportedly be more affordable and feature new internals like an A13 processor Three gigabytes of RAM Quo says the new iPhone SE hardware Specification will look much like the iPhone 8 and predicts that Apple will sell 30 to 40 million units across the year the developers of the HK map live app tweeted that Apple has pulled the app from their app store HK map live pulled Pulled reports from Telegram where police were located and where tear gas was being used in Hong Kong Apple told app creators that it quote Facilitates enables and encourages an activity that is not legal unquote the app remains available in the Google Play Store It's unknown if Apple made this decision internally or if it received any pressure from the Chinese government Intel and Brown University have begun work on a DARPA back project called intelligent spine Interface over the next couple years Scientists will capture motor and sensory signals from the spinal cord and Electrodes will be placed at both ends of a spinal injury to create a bypass of the break Neural networks will then try to learn how to pass the motor commands through the bypass to restore movement The system will use external hardware with the intent of eventually developing an implanted system Now they don't know if this is going to work or not But even if the project is not successful it is expected to discover new information about how spinal cords work, which could be immensely valuable France plans to use facial recognition and registration for Al of Sam which is France's digital ID system that launches in November The system requires users to take a selfie in an Android app Which is then compared to a passport photo France says it won't match facial scans with citizens identity databases And according to the Interior Ministry facial recognition data would be deleted after enrollment Once enrolled citizens can use the digital ID to secure access to things like taxes banks social security and utility bills France you France's data regulator CNIL says that the system violates GDPR though and rules of consent and Privacy groups have filed lawsuits with the French administrative courts All right, let's talk a little bit more about another EU activity that's got a little controversy Austrian politician Eva Glashnik-Pijshek got Facebook to remove comments harmful to her reputation But she wanted Facebook to remove all copies of the comments as well Facebook said she had to tell them where the copies were and then they would remove them So Eva took them to court the European Court of Justice has now ruled that judges may order Facebook and other platforms to remove Identical copies of posts as well as equivalent versions where the message is essentially unchanged Without requiring separate notices for each one the court also confirmed that the platform is not liable for the post So safe harbor still exists in the EU But here's the sentence from the judge's decision that got everybody's attention and I'll quote it in addition EU law does not preclude such an injunction from producing effects worldwide within the framework of the relevant international law So every headline is now EU court requires Facebook to take down post worldwide And there's all a lot of objections from Facebook saying well the EU shouldn't legislate outside its borders I think that's a misinterpretation or a too wide interpretation of this because What this decision seems to be saying is if there's a treaty or if there's international law that The EU and other countries have agreed to then any country who has agreed to that And and if it then applies You would be able to take this down But only if that country has already agreed to abide by the same law if that makes sense So we're still able to slander european politicians here in america Well Not under u.s. Law so you don't want to slander slander has a very specific legal definition justice Well indeed indeed. Well, of course slander would have to be uh in or libel audio right because libel is written but Uh, so yeah, so so you are saying that this is not quite the the orwellian shakedown that it is being portrayed as No, I actually feel like this this decision is fairly reasonable The judges said look facebook saying you have to tell us where every instance of this is for us to take it Down and the judges say it's a lot easier once you know what the post is and once a court of law has determined It's illegal. It's a lot easier for you to find copies of it. So you need to do that Uh, and I think that's reasonable and the court also said and by the way If other countries laws are in harmony with the eu here Uh, then yeah facebook you you should probably take it down That's kind of like an extradition treaty right like if the laws are in harmony Then yeah, you're gonna have to follow it in those other countries if the plaintiff wants to What's not said is if the laws aren't in harmony, then no you won't need to and I think that will probably apply as well I do well in a situation like facebook. Okay, uh, you've got your twitter retweets There are certain tools in place that didn't used to exist that now make it easier to share things like this But you can do it manually in a lot of different ways as well So how does a platform deal with something like that if someone actually is like You got a lot of copies of this slanderous content and they all got to come down What what does a company like facebook do in that situation? I mean they run a control f right basically and just be like take it all down I feel feels a lot easier for them to do that than to say sorry plaintiff You have to find every single retweet and if they're in private groups on facebook Well, you know, we can't do anything about that So I don't know it's it's not it seems like it would not be difficult to to find copies of this in the database and remove them Here's something that's easy to find Work at least that's what uber wants you to think now that they have launched uber work an app to match shift workers With employers in multiple professions like cleaners bar staff and warehouse workers The app will provide information on pay location and working conditions and lead workers track working hours and breaks uber works partners with staffing agencies providing the technological front end for matching while the agencies quote Employee pay and handle worker benefits end quote The service is currently limited to chicago at launch with plans to expand to other cities soon Similar apps like minolo work pop and shift gig do already exist in this space Yeah, and people who work at those three apps are not happy. I'm sure about uber moving into their space Even if it is just in chicago for now This seems like a really smart idea for uber to say look we have software that's really good at matching Let's go into an existing industry that's already happening where we're not trying to disrupt things We're just trying to make it easier For these companies to find their temp workers and the temp workers to find the company And we're not trying to change laws or get around laws That seems like a pretty safe and efficient way for uber to go. No It also seems like a good idea for uber to not involve anybody driving a car Which i think that has obviously been tremendously Discussed with the new california legislation that Will likely be signed by the governor But also the fact that uber as an ipo or just ipo'd recently their stock has Fluctuated as the market has kind of taken a second look at some of these companies And now they want to be big and loud not only on the legal side But also on the financial side to say we're not just driving We are a software company that has a that had a big hit with matching drivers with riders But that is not the only thing that we do no matter how much you hear about The only way will be profitable is if we have self-driving cars and that's obviously not going to happen within the next few years You know when when I first heard about this I was like, what is it? We're doing I mean wow, we're we're we're we're on all sorts of tangents right now Whenola was a company. I'm actually familiar with I have a friend who For the last several years has just kind of done a variety of odd jobs When I say odd jobs sometimes they last more than day sometimes, you know It's like sort of a month or two or that sort of thing But it is a skilled work that he specifically Was the right person for and it actually kept him employed kept him busy And I know that's not for everybody But thus this model is not a bad model, you know for for the right kind of person So it'll be interesting to see if if uh if uber does it better than the competition that already exists And it's less risky for them to uh to do something like that Because this is something where the agencies that provide the temps Are are taking on a lot of the risk of benefits and are they really contractors and all that so Uber's gonna love that side of it too Moving on to instagram now instagram launched an app called threads Which pulls its contacts from your close friends list on instagram And then the app opens to the camera with shortcuts to make it fast to send people photos and videos They're close friends that has drawings and text overlays, but no filters But it also has a status feature that lets you set an emoji as an away message for example for your friends You can also choose to make the status automatic based on your phone's location accelerometer and battery level if you just really want to overshare everything with your close friends again emojis include pre-made ones like a thumbs up for free um a strikeout for busy You know i'm studying And you get the idea you can create your own as well facebook says it won't store information That is location data driven and will also auto delete from your phone after a short period of time instagram doesn't plan to monetize threads at this point So they say so they say like right now literally if you're hey instagram are you monetizing threads? No Yeah, no, we're not doing that right now This is this is just a fun app to share Literally everything about where like where in your house you are based on your accelerometer with your closest three friends Well, and that's the idea is look these are cool things for people to be able to say Oh, if I could just have it automatically say hey, I've got low battery. That's why I'm not responding or You know my mom wants to know where I'm at tell her I'm at the grocery store This can automatically do that you wouldn't want this to do it in a place like instagram Where you might be following people that you don't want to know that stuff So interesting for them to make a separate app for that I think it's smart and I think this is geared toward a younger demographic who have fundamentally different ideas about what their privacy is Or the expectations is there should be they see far more of the upside of being able to let everybody know Exactly what they are doing without them having to see it Uh If anything I almost feel like we are going to see apps that trail more into this situation or into these kinds of Of these these kinds of asks to turn stuff on the only question is Where does the rubber meet the road in terms of how they do monetize it because they will eventually do it Right now, but they will eventually no because these these are going to have instagram stories And the way instagram stories is monetized is ads show up in between and that that's gonna happen Tony i'm curious if you know, you see the if you see any use or not for this in your life I Probably not in mine I didn't even know the instagram had a close friends function. I have the app I post on it from time to time But i'm a little older than their target market. So probably not for me Well, I think that that that's part of we were talking before the show is like, okay Well, what's you know, is it weird? It's like, I don't know these sorts of things don't it does It's not so much that i'm like, oh, I you know my privacy it's going to be violated It's more of just like I don't have any friends who care about these metrics And and I think that that you know that has a lot to do with the fact that you know, I I watched You know my my 20 closest friends on find my friends and ios just kind of drop off because we're just sort of like We just don't really care that much It does come in handy sometimes and I think yeah for for the younger set then this is You know some of these features are great But you know, I don't even like it when somebody responds to a text with like The like thumbs up emoji, but you don't like that No, because i'm like I got a notification, but you didn't say anything No, but it's so easy sometimes That is a dismissal No, it's No, it's a baseline communication. I love so much. It's borderline passive aggressive This is an etiquette question That's right. Tony's on my side Wrong Well consumer reports has issued a report called how cable companies use hidden fees to raise prices and disguise the true cost of service I wonder what this report is about It's analysis found that companies add on average 37 dollars and 11 cents per month in company imposed fees to the average bill We're not talking about taxes. We're not talking about regulatory fees We're talking about things that the company decided to add it as a fee on top of your stated base price That ends up making the average that a u.s. Consumer pays for their cable bill 217 dollars and 42 cents a month Now some of that includes double and triple plays consumer reports analyzed 787 bills from 12 companies which included television in almost all of them 426 of the bills included internet as well and 282 included phone Company imposed fees aren't required. They're just a way to separate the cost so that it looks different Examples include your broadcast tv fee or your regional sports fee or your hd technology fee your convenience fee It may also include your rental charges like your set top box or your modem For instance frontier charges you a ten dollar router rental fee Whether you provide your own router or not, they still charge you the fee Consumer reports recommends cord cutting in their report Because they say over the top providers like playstation view youtube tv sling tv Don't charge hidden fees. You know how much you're going to pay and you pay that However, they do note that if you do cut the cord for television You're going to still need internet and these cable companies are moving some of these fees into internet access bills as well So you may not be able to escape them I I'm so glad That this article is here because I feel that we are into an era where winers on the internet want to Question the revolution that we have undoubtedly gone through in terms of over-the-top services There was a viral tweet that happened a few weeks ago adding up all the subscription Services and a noting that indeed if you bought all these things that it would come out to gasp over a hundred dollars Yes, and it should because you get so much for that 110 dollars compared to what you would get with cable That would have been a 200 dollar cable bill and that's before you get to these fees This is an industry that's been coddled and has been soaking us for so long that i'm glad It now at least has a viable challenger And we can point out the fact that they are squeezing harder and harder to make sure that Money falls out of us consumers Well, and tony, I know you were you were stating that uh, this this is particularly of interest to you because You don't have the kind of internet where you live that can handle streaming, right? Yeah, I can stream a little but if someone is On facebook on their phone in my house netflix is at a full stop So I can't I can't cut the cord. I would love to I want to we've had the conversation in our family but we just can't do it because We want to be able to access stuff when we want to watch stuff and we just can't always rely on that And that's just because you don't have the providers other than wireless at this point, right? Uh, I have I have dsl And it's slow. Yeah, uh, you probably max out at 1.5 megabits per second max, right? But I mean tony tony's a great example of you know, I know a lot of listeners of the show Are nodding their heads like yeah, I mean it If you don't have a situation where where you you have a lot of these options And it actually is something that you can live with Then you got to make do with the old but the old guard Yeah, and uh, if cable internet is an option for you Well, watch out. They're going to start packing these fees into your internet bill as well So but there there are differences in in those industries. There are there are more internet competitors than there were cable competitors specifically in terms of the region monopolies Yeah, and and the promise of 5g is they'll be able to roll out to a wider area So who knows maybe five 5g service will solve it for you, tony. We'll see we'll keep our fingers crossed Uh, to get all the tech headlines each day in about five minutes Be sure to subscribe to daily tech headlines dot com As we mentioned, uh, tony just got back from the finnavate, uh, conference explain real quickly what the finnavate conference is for us Yeah, it's it's a fin tech conference series. They have different locations all over the world. They have, uh, san francisco new york dubai berlin and singapore So it's it's a little different from what you might expect It's different from say a money 2020 conference in that it's really short quick hit demos A lot of startups, uh, some more established companies come but they have seven minutes to demo And if they go over that seven minutes a gong goes off and they Just short of get yanked off the stage Uh, their their mics do get cut. They get shamed off the stage. Yeah Yeah, so it's a good a good place in my opinion Part of my job at my bank that I work for is to look for new stuff new products and services So it's a good place to look and see what the trends are Uh, so that we can be relevant and stay relevant. Well, I figure a i Is probably one of the top trends you saw. What did you see in ai there? Yeah, uh, so ai was one of the top things that I saw a lot of buzz around, uh, not just the demos Although there were ai demos, but a lot of buzz a lot of conversation around ai And just the their ways they're using it different ways that they're using that ai, you know, they can And one of the companies was really interesting, uh, because when you call a bank, uh, if you guys are banked, uh, you often have to answer Numerous questions to authenticate yourself. Well, one of these companies is using ai to Authenticate the customer without even asking them any questions. It's using their voice recognition So it's a biometric and ai mixture So that we don't have to ask what your maiden's name Mother's maiden name because everyone knows that the grandma on facebook's got her maiden name showing So it's really easy to get that information So that's one of the ways they were doing it Chatbots with ai in a very conversational tone Was was another method and then of course Where the where the banks are really interested is Using ai to take or to determine what the next action of the consumer is going to be So we can look at the data that we've had for years And we haven't been utilizing appropriately, especially on the community banking level We can use these programs to determine well, this person is about to Leave they're they're about to cut their ties with us and we can Be proactive about that and keep their business because you have a better idea of what the reasons might be And and then you can preventively proactively suggest things. Is that how that works? That that's my understanding we can uh Predict from their actions, you know from the payments from the from the things that they're doing We can predict their next moods in in certain circumstances What's how do you feel about the reliability of something like using ai for for voice recognition? To authenticate someone does that that feels strong enough? So a little background i've been at in banking for 16 years. So i'm a little old school That uh that side, uh, I like the idea and if it can be proven to be to work I'm all for it. However, I know my risk department. They don't like the idea Sure Now now my bank has moved away from things that are easily obtainable like mothers maiden name date of birth and things like that to security codes However, the issue with that is when we ask what's your security code? Six times out of 10 they have no idea what we're talking about even though they've set that security code with us So that it can be problematic as well from a customer perspective I love it because they don't have to go through the Annoyance that they feel when they have to authenticate themselves And I like to think that these community banks have gotten to the point where they're not asking people to authenticate themselves multiple times But it does happen so that could address that issue as well And speaking of community banking. I know one of the other trends you said you saw were around open banking Yeah, so one of the things that I I feel especially as a community banker that we're going to have to really embrace to stay relevant is the idea of open banking which Europe has kind of paved the way for that. They've got these rules in place and what that is For those that may not know is the the ability for these banks and financial institutions to have open APIs So that third parties can interact with their data But the european model the consumer has control of that They have control of who is accessing that which third parties are accessing the data In fact with registered third parties if a consumer goes to a bank they can Require that that bank opened that data to those registered third parties Um, but with us I feel that in order for us to and I hate to be cliched about the younger people But it is an issue for us to remain relevant as a community bank Rather than the the big tech and the big social media of the world We're going to have to open ourselves up to partnerships with people that can do the Cool things that those other people can do Well, and and just the idea that that there's some pressure in in the fintech circles on on giving The customer control of their data is heartening to me Yeah, and it is it's important that the customer we want the customer to be in control of themselves their data and their information their finances And one of the ways that this open banking movement can help the customer is put them in greater control of their finances Most banks Have programs in place to teach the customer how to be Financially stable financial literacy programs. We have an employee on staff That's all they do at my bank is as uh conduct these financial literacy programs However, in the past they've been geared towards the the schools Teaching these kids how to fill out a check which who cares anymore how to fill out a check things like that But with these open open banking products We can give that customer more control and enable them to be more financially sound as well Well, and that sounded like that was another trend that you saw was financial well-being Yeah, it was and one of the things that I noticed about it because as I just said in the past We have focused on millennials and and the younger generation and that's still a thing We do need to do that. I definitely saw a trend moving towards focusing on the aging Because not only is that where the money is and that that's a fact But they're also becoming more tech savvy You know these people are becoming more involved with facebook and instagram So they're getting used to these products. So we need to have products that enable them as well Especially things like retirement planning and things of that nature We we could talk forever about this stuff. There's there's so many good trends coming out there I know I know there was a lot of talk about real-time payments as well So thank you so much Tony for for chatting with us about this or appreciate you giving us these insights No, thanks for having me. I appreciate it Also, thanks to everybody who participates in our subreddit You can submit stories and vote on them at daily tech news show dot reddit dot com We're also on facebook join our group if you haven't already facebook.com slash groups slash daily tech news show Hey, sarah. Did we get any mail? Oh, that's funny. You ask we did this one comes from mark And it says as a quick addendum to your chat on google updating to dns over https aka doh You mentioned that mozilla didn't get much heat for doing the same thing over here. That's in the uk the isp Ispa, which is the isp association nominated mozilla for their internet villain for 2019 other candidates for the covered award are us president donald trump for causing Some uncertainty around a variety of things and the ewes article 13 copyright directive for threatening freedom of expression online By requiring content recognition technologies across platforms just airing a piece for from across the pond So I think mark's point is it definitely runs the gamut on on villainy Yeah, I saw that uh a story come across back in july and I actually emailed mark about this And and yeah, it was not shocking that the isp association wouldn't like this because it does Because this protocol as we mentioned in the story earlier this week gets in the way of of domain name Monetization efforts But even then even with the ispa getting angry at mozilla Not it. No didn't seem like a bunch of people jumped on that bandwagon to say yeah mozilla's a villain Whereas the congress of the united states Sending a letter to google That that has a whole different tone to it. Uh, but but well well put mark there. There at least was one sector Getting angry at mozilla, which is good to know We'll shout out to our patrons at the master and grand master levels. These are new Patreon levels including chris allen brad and tim deputy will be giving shout outs to all the folks in those levels as time goes on So thank you for supporting us Absolutely. Also. Thanks to tony staley. It was such a joy to have you on the show today Providing us some knowledge. Let folks know where they can keep up with the rest of your work Uh, they can find me on twitter at tony staley. I tweet about uh fintech basketball and politics for the most part You have a lot in common with the rest of us then. Yeah, right Also, thanks to justin robert young for being with us today. Justin. What's been going on since we saw you last Well, you know, obviously there is a lot going on in the world of politics So if you would like to get on my free political newsletter, you can go ahead and check out free political newsletter dot com and Of course my podcast politics politics politics, which now includes a regular segment, uh, where I just read tom's text that he sends to me about brexit Yeah, texted about brexit. Yeah Uh, no, it's true. I I I with I can I now know that uh, I will be I will be texting about brexit once a week And it will be read on politics politics politics, but it's pretty awesome. So Go check it out folks. Uh, we also have new patreon rewards Uh become a member of dts and get a peek at our show rundown as we develop it behind the scenes chats And more and on november 1st Everybody who is at the two dollar level or above will get a pdf copy of the official dts Good day internet cookbook with recipes from the show hosts and even some listeners. 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