Posts by The Trend Letter

Headlines – November 23/17

  • China stocks suffer mauling, Fed leaves dollar in a daze. Read story
  • As Black Friday nears, US stores get creative to battle e-commerce. Read story
  • Euro up for third day as outlook brightens. Read story
  • Oil eases from highest level since 2015 as traders weigh US data. Read story
  • Stock market could tumble 15% if 10-year Treasury yield crosses this line. Read story
  • Bank of America sees end of bull market in 2018. Read story
  • Missing Argentine submarine: ‘Explosion’ detected. Read story
  • A list of billionaires in each country. Read story
  • Foxconn stops interns’ illegal overtime at iPhone X factory. Read story
  • Germany must not be Europe’s political dwarf: Merkel warned Macron will rise up to lead EU. Read story
  • The UK is aiming a new tax at tech giants that shift profits offshore. Read story
  • The party is over for Australia’s $5.6 trillion housing frenzy. Read story
  • On the lighter side. Check it out!

Headlines – November 22/17

  • World stocks ride tech boom to scale new highs in pre-Thanksgiving rally. Read story
  • Oil price rises to two-year high above $58 on supply slowdown. Read story
  • Uber paid hackers to delete stolen data on 57 million people. Read story
  • Skype removed from China Apple and Android app stores. Read story
  • HPE CEO Whiman’s surprise exit stumps Wall St. Read story
  • Tesla’s burning through nearly half a million dollars every hour. Read story
  • Hong Kong share index passes 30,000. Read story
  • Search for Argentine submarine sheds light on the difficulty of finding a vessel designed not to be found. Read story
  • France, Italy get EU warning over debt level, spending plans. Read story
  • Another German election risks boosting the far-right, and ending Merkel’s career. Read story
  • How we got here. A history in the use of tech in toys. Read story
  • Nearly 51 million Americans to travel this Thanksgiving, highest volume in a dozen years. Read story
  • Malls are dying. There aren’t enough homes. Is there a solution? Read story
  • On the lighter side. Check it out!

Stay tuned!

Smart City or Surveillance City?

As reported in New Scientist, in Toronto, and many other cities around the globe, ‘smart city’ projects are underway. The concept of infrastructure interlinked by software isn’t new.  Having Artificial Intelligence (AI) use data to actively improve our everyday lives seems like a worthwhile endeavour.

This is not just some futuristic concept, as for the past 12 months, the city of Hangzhou in China has collaborated with Alibaba and Foxcom to build the “City Brain” project, where AI started to run the city. For the past year AI has been sucking up every drop of data it could get its virtual hands on. Virtually every resident is tracked; their activity on social networks, their purchases, their movements, their commutes – everything is uploaded to the AI’s databases, where real-time decisions are made.

The stated goal of the project is to improve life in Hangzhou by letting artificial intelligence track traffic, crime, commutes, purchases, interactions, general movements, and much more. Residents were tracked both generally and specifically, with City Brain even plugged into local social media – it also tracks their cell phones.

The project has been considered an enormous success, and Alibaba is now packaging the system to export to other cities in China – and ultimately, the rest of the world. After a year under the new system, rush hour traffic is down 10% as the system uses hundreds of thousands of cameras dotted through out the city, tracking the movement of almost every car on the roads. It can instantly detect accidents, blockages, and can predict traffic flow 10 minutes ahead of time, then adjusts traffic light patterns to even the flow. Illegal parking is tracked in real time and the system will even contact individual commuters to offer detours and weather advisories.

Here is one the police love. If someone breaks the law, they too can be tracked throughout the city before being picked up by the police. The reality is that a fully ‘smart’ city means that pretty much every aspect of your life is tracked – the privacy issues are huge.

Why does it seem to work so well in Hangzhou? As Alibaba’s project leader, Xian-Sheng Hua stated…“In China, people have less concern with privacy, which allows us to move faster.

“It’s easy to identify when people are not following the ‘normal’ behaviour patterns. Having identified people who are not ‘normal’, they can of course then be tracked – and who they meet with, where they go and so forth can also be quickly identified,” says Paul Bernal at the University of East Anglia, UK. “As a way to control dissident movements or anything the authorities don’t like, it’s perfect.”

According to the Gartner Group, an estimated 2.3 billion connected things will be used in smart cities this year – a 43% increase over 2016. This rise of digital connectivity also exposes a host of vulnerabilities cybercriminals will be lining up to exploit.

In the video game Watch Dogs, you can play a hacker who takes over the central operating system of a futuristic, hyper-connected Chicago. Once you have control over the city’s security system, you can spy on residents using surveillance cameras, intercept phone calls, and cripple the city’s critical infrastructure, bringing the city to its knees.

While Watch Dogs is just a game, it illustrates a scenario that could happen in today’s increasingly smart cities. It was only recently that a major hack took place that targeted Internet infrastructure in the US with one of the largest DDoS attacks ever recorded. The root cause was tracked back to overlooked security vulnerabilities in hundreds of thousands of compromised connected video cameras. Similar Internet of Things (IoT) enabled cameras and sensors are driving forward the Smart City initiative that depends on these devices to manage the entire city’s infrastructure and assets. Essentially, this dependency suggests that even the smallest of security weak points within the Smart City infrastructure can escalate security exploitation to unimaginable and uncontrollable levels.

We are becoming a society that is more and more willing to have our every movement and conversation monitored for the perceived convenience of a ‘safer’ and more efficient city. We are giving up our individual rights and freedoms so that big government can better protect us.

It is a timely thought, as recently we had Remembrance Day in Canada, and Memorial Day in the US. On these days we honoured those who gave their lives to protect our rights and freedoms. The question going forward is, have we become too eager to give up those rights and freedoms that so many have died to preserve, simply to make our lives more convenient? A smart city is in reality, a surveillance city, where citizens’ privacy is the cost of the efficiency gains.

Stay tuned!

Headlines – November 21/17

  • Nasdaq opens at record on tech gains. Read story
  • Mugabe resigns after four decades. Read story
  • Merkel signals readiness for new election after coalition talks collapse. Read story
  • Tencent chief ‘richer than Google founders’. Read story
  • Iraq is giving OPEC a headache. Read story
  • A $31 million hack freaked crypotocurrency traders out and sent Bitcoin’s price plunging. Read story
  • ISIS group releases image of ‘beheaded’ Pope Francis. Read story
  • The Justin Trudeau love-fest gets reality check. Read story
  • Everything you need to know about the Brexit “divorce bill”. Read story
  • Jim Rogers says Bitcoin ‘looks and smells’ like all other investment bubbles. Read story
  • Google collects Android users’ locations even when location services are disabled. Read story
  • Rape and no periods, life for women in North Korea army. Read story
  • Are your medical records safe? Read story
  • On the lighter side. Check it out!

Stay tuned!

Headlines – November 20/17

  • Stocks rebound in short week for US stocks. Read story
  • European markets power on after early German wobble. Read story
  • China’s shadow bank clampdown hits stock market. Read story
  • Canadian dollar dips as oil falls, investors weigh NAFTA talks. Read story
  • A Chinese tech giant just joined Facebook and Amazon in the $500 billion valuation club. Read story
  • Got $1 million to retire? Here’s how long it will last, by state. Read story
  • The reasons Americans give for buying Bitcoin show they have no idea what they are doing. Read story
  • What do China’s police collect on citizens in order to predict crimes? Everything. Read story
  • Cities fight to win key EU agencies from London. Read story
  • Soros says Hungarian government lying in attacks against him. Read story
  • Crime wave engulfs Sweden as fraud, sexual offenses reach record. Read story
  • The worst time of day to make money decisions. Read story
  • Charles Manson dies at 83, after four decades in jail. Read story
  • On the lighter side. Check it out!

Stay tuned!

Headlines – November 16/17

  • House GOP set for big tax win. Read story
  • Europe’s longest stock sell-off of the year abates. Read story
  • Russia and Venezuela agree to debt deal. Read story
  • Mortgage rates spike to four-month high as tax reform drives bond sell-off. Read story
  • The world’s biggest wealth funds wants out of oil and gas. Read story
  • US jobless claims jump to 6-week high. Read story
  • ECB warns banks against Brexit ’empty shells’. Read story
  • Fisker has filed patents for solid-state batteries. Read story
  • Dr AI: Stanford trained AI to diagnose pneumonia better than a radiologist in just 2-months. Read story
  • Leonard da Vinci’s “Salvador Mundi” sell for $450.3 million, shattering auction highs. Read story
  • China builds fastest wind tunnel to test weapons that could strike the US in 14 minutes. Read story
  • Will Virgin’s latest venture have the cruise industry seeing green.? Read story
  • The most important skill for 21st-century students is the discipline to say ‘no’. Read story
  • On the lighter side. Check it out!

Headlines – November 15/17

  • Dow sinks 150 points, threatens 3-week low as global markets slump. Read story
  • Airbus seals massive $49.5 bln order for 430 aircraft. Read story
  • NAFTA talks resume as US warns ‘short fuse’ risks burning down. Read story
  • Zimbabwe’s military seizes power, detains Mugabe. Read story
  • Japan’s economy posts the longest growth streak since 2001. Read story
  • Venezuela goes bust. Read story
  • October pick up in CPI gives green light for Fed rate hike. Read story
  • Another slump for European stocks. Read story
  • Cannabis grower Aurora proposes industry’s largest takeover. Read story
  • Household debt rises by $116 billion as credit card delinquencies pile up. Read story
  • Tesla says it will fight lawsuit claiming racial discrimination. Read story
  • Half of over 65s take at least five drugs a day. Read story
  • China urged to stop electroshock therapy to ‘convert’ gays. Read story
  • Doctors are attempting the first case of gene editing inside the body of a living human. Read story
  • On the lighter side. Check it out!

Stay tuned!

Headlines – November 13/17

  • Stock indexes on track to extend last week’s pullback. Read story
  • World’s top tech giant amass $1.7 trillion in monster year. Read story
  • GE cuts dividend by half, slashes profit goals. Read story
  • Oil trades near $57 as OPEC signals rebalancing could speed up. Read story
  • Pound slides as British government faces turmoil. Read story
  • Bitcoin jumps 10% to above $6400, recovering from weekend crash. Read story
  • Tesla’s junk bonds are trading under water and could spell trouble for Musk. Read story
  • Trump says he has ‘great relationships’ with Duterte. Read story
  • ‘Priced-to-perfection’ European stocks show signs of exhaustion. Read story
  • Is it time for investors to leave the party after the latest bond market wobbles? Read story
  • Qualcomm rejects Broadcom’s $103 billion takeover bid. Read story
  • While attendance continues to decline, NFL commissioner is asking for $49.5 million, plus lifetime use of private jet. Read story
  • Floating cities no longer science fiction, begin to take shape. Read story
  • On the lighter side. Check it out!

Stay tuned!

Headlines – November 10/17

  • Global stocks dip on US tax doubts. Read story
  • In landmark move, China opens up banks, finance sector to foreign control. Read story
  • Xi, Trump offer dueling visions of globalization at Asia Forum. Read story
  • Is the junk bond market getting scary? Read story
  • Saudi Arabia orders citizens out of Lebanon, raising fears of war. Read story
  • Default day looms for cash-strapped Venezuela. Read story
  • Bitcoin slides by $1000 in less than 48 hours. Read story
  • Tesla’s junk bonds are trading under water, and it could spell trouble for Elon Musk. Read story
  • Republican Senate candidate Judge Moore hit by sexual misconduct allegations. Read story
  • Uber loses UK appeal bid to overturn worker’s rights decision. Read story
  • The man who gave us DVR says Roku is the future of TV. Read story
  • The deadly smog over New Dehli is a perfect example of everything that’s wrong with India. Read story
  • On the lighter side. Check it out!

Headlines – November 9/17

  • Tech stock pull Wall St lower amid tax bill worries. Read story
  • Trump says trade deficit is not China’s fault. Read story
  • Dissecting the $250 billion China deals Trump got for US. Read story
  • ISIS issues threat before Paris anniversary, vows to kill kids. Read story
  • Saudi anti-corruption probe finds “$100 bln was embezzled”. Read story
  • Saudi Aramco signs $4.5 billion oil, gas deals. Read story
  • Catalan speaker appears before Spain’s supreme court. Read story
  • Michael Lewis reveals his new “Big Short”. Read story
  • These maps show how crazy fast the world is aging. Read story
  • One region is growing older a lot faster than anywhere else in the world. Read story
  • Iranian activist shot dead in Netherlands. Read story
  • Self-driving shuttle bus involved in crash on first day. Read story
  • Take that Miami: Pittsburgh now top retirement haven. Read story
  • Kevin Spacey scenes in completed movie to be cut and reshot with Christopher Plummer. Read story
  • On the lighter side. Check it out

Stay tuned!