May 7, 2022 11 min read

Newsletter #76: AirBnB's New Way of Working | The Internet Computer | India's Super App Tata Neu

Newsletter #76: AirBnB's New Way of Working | The Internet Computer | India's Super App Tata Neu
Table of Contents

Newsletter #76: AirBnB have used the pandemic well. They've got their own house in order and just reported good numbers. Now they've gone one step further and changed the way they work. Plus, The Internet Computer wants to democratise the internet. And Tata's new super app raised privacy concerns.


w/Issue #76 - 6th May 2022


Welcome, Wiser! friends. You're amongst 10,356 like-minded subscribers who want to know what's happening and what's coming next in the digital economy.

This week I'm covering 3 things: AirBnB's new way of working for employees; the Internet Computer's plans to democratise the internet; and India's latest Super App raises privacy concerns.



w/AirBnB


AirBnB's New Way Of Working

Back Story:  AirBnB has announced that workers can now work from wherever they choose. In the boldest post-pandemic, future of work move yet, the 5 point plan was tweeted by AirBnB CEO Brian Chetsky last weekend.

By Tuesday, AirBnB reported that over 800,000 people had visited their careers webpage in the 4 days since the annoucemement.

🏡
The 5 point plan for AirBnB employees said:
1. You can work from home or the office—whatever works best for you
2. You can move anywhere in the country, like from San Francisco to Nashville, and your compensation won't change
3. You have the flexibility to live and work in 170 countries for up to 90 days a year in each location
4. We’ll meet up regularly for team gatherings. Most employees will connect in person every quarter for about a week at a time (some more frequently)
5. To pull this off, we'll operate off of a multi-year roadmap with two major product releases a year, which will keep us working in a highly coordinated way.

Here's the thing:  if you chose to live away from the (expensive) city, or not spend dollars on commuting to the office, and make your own sandwiches and coffee at home for a fraction of the cost....this is like a huge TAX FREE PAY RISE.

Note that CEO Brian Chesky was very clear, there will be no change to worker's compensation. This is important as other tech firms have suggested a reduction in pay for workers who opt to work from home.

Take Google, for example.

Google has plans to cut remote workers’ salaries by 25%. This is an odd move for one of the most appealing tech companies to work for. The pay cut is based on the employees travel time to commute to work.

Last August, Reuters revealed that "workers with longer commutes to the Google office would receive the highest pay cuts."

Meanwhile, AirBnB are taking a different approach and save a whole load of fixed facilities and real estate costs, substituting them for variable costs paying for quarterly team get-togethers.

A word of caution:  remote working and innovation and creativity have not proven themselves to be bedfellows.

You'll remember from last week's Wiser! that I included a snippet about a piece of University research published in Nature.

It found that video team meetings "dampened brainstorming and creativity."

Anyhow, back to AirBnB. It's a bold move by a brand that has used the economic upheaval of the pandemic well to get their house in order. On this week's earnings call, AirBnB announced their numbers for Q1:

  • 102 million nights booked
  • $1.5 billion revenue (up 70% Y/Y)
  • $(19) million net loss
  • $1.2 billion free cash flow

Chesky explained in a tweet thread how AirBnB had turned the business around..."2 years ago, our business dropped 80%, our IPO was put on hold, and some didn’t think we’d make it at all."

AirBnB v Marriott and Hilton

w/Related Insights:



w/Crypto


Photo by Leon Seibert / Unsplash

Solving The Internet The Crypto Way

Back Story:  In the world of crypto, putting Bitcoin to one side, there's Ethereum, then the rest. Whilst Ethereum has a significant first mover advantage, there are challengers biting its heels.

Dfinity's Internet Computer is one of them. After Polkadot, it's the 2nd most funded Ethereum challenger and has raised around $160 million to solve problems with the traditional internet.

Which is that today's internet is in the hands of BigTech and private ecosystems controlled by corporations using opaque policies and algorithms for their own gain.

The mission of the decentralised Internet Computer is to change that.

It is this notion of a centrally controlled internet that is at the very heart of what's driving Musk's to fix Twitter for the "good of civilisation." In Musk's case, he doesn't like that Twitter can decide who gets to have a say in their "public square".

But the problem The Internet Computer is tackling extends beyond Twitter. It's the ability of Facebook to change its opaque algorithms at any time and decide what users get to see, or don't. Its Apple's ability to unilaterally introduce rules on tracking that favour itself. It's like Google delisting the No1 metaverse game Fornite because they challenged the 30% Playstore tax.

And more...

Dfinity is built on blockchain technology and has built a decentralised, scalable cloud-like platform that can store data, run computations, and be run by people in the community. It's a decentralised version of the internet.

To find out more, check out this excellent explainer on Dfinity's Internet Computer...👇

Crypto Research, Data, and Tools
Gain an edge over the crypto market with professional grade data, tools, and research.

Meanwhile:  Dfinity have a small issue to sort out with Facebook...

Back Story:  It may turn out to be the mother of all publicity stunts...

It's the unlikely possibility after Dfinity filed a lawsuit against Meta.

Dfinity have sued Meta for trademark infringement over its infinity logo.

In a court filing in California, the lawyers of Dfinity claim that Meta Platforms use of a new logo will cause consumer confusion with its own infinity-symbol logo.

It's a tough argument for Dfinity to make given that it (only) has around 250,000 users compared to Facebook's almost 3 billion! But that might change after the much-hyped and long-anticipated blockchain-based cloud computing project goes live later this year.

Dfinity has raised more than $160 million in venture capital, aims to establish the basis for a new decentralised internet.

The lawsuit argues that “Despite knowledge of Dfinity’s mark, Meta chose to proceed with its application to obtain registration in some of the same or similar areas in which Dfinity has already obtained registration for its mark."

According to Dfinity, Meta filed an application with the U.S. Patent and Trademark Office (USPTO) in March 2022, while the same office granted Dfinity registration in October 2018.

The legal team of Dfinity also claimed that it has been using the infinity symbol on its website since March 2017.

Dfinity has asked the court to stop Meta from using the same logo and pay an unspecified amount of money for the damages.

Good luck with that one!

w/Related:


w/SuperApps


Tata icon in 3D. My 3D work may be seen in the section titled "3D Render."
Photo by Rubaitul Azad / Unsplash

Privacy Concerns over India's new SuperApp: Tata Neu

Back Story:  Tata Neu was launched in the first week of April and has already had at least 2.2 million downloads.

It comes from Tata Group and brings together into a single app all of Tata's online presence, from shopping to financial services, from travel to hotels, from fitness to medicine.

All good, right?

But here's the thing...   signups to Tata Neu are finding that the SuperApp already knows alot about them.

According to a report in Wired, the SuperApp comes preloaded with user data from other apps.

It seems that the preloaded personal data shows that Tata has been saving customer data across its online and offline companies and create their profiles.

The issue is one of CONSENT, which is not explicitly requested for Tata Neu. Buried in the terms of other apps will be permissions to save and reuse user data.

What's your point?  The point is that not all data is equal. A user's shopping profile is one thing, their health data is something else.

Using data to help you find a better product to buy is, net/net, a good thing. But when apps collect sensitive data, such as fitness tracking apps, then it gets more complicated, especially if the SuperApp has both financial services and health data on the same platform, as does Tata Neu.

It's not a good thing if insurance or credit products are priced differently based on the opaque algorithms informed by medical data when explicit consent has not been given.

I'm not opposed to the reuse of personal data for secondary purposes...but I also don't trust any organisation that does it. (See story above about the Internet Computer.)

w/Related:


w/OtherNews


Random Stories From The Tech Economy

🚪
Net neutrality prohibits internet service providers from slowing down or blocking access to websites or applications. It also prohibits broadband companies from charging fees to companies to deliver their service faster than a competitor's offering.

w/Apple


🖥 On the 7th May 1998, about 18 months after he returned to Apple , Steve Jobs introduced the iMac. It was a smart, differentiated product coupled with brilliant marketing.

And it got Apple rolling again after the company almost went bankrupt. Here's how it was marketed...

"There's no step 3"

w/Wiser! Community


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w/Read/Watch/Listen


I'm Reading

Do you ever wonder what the early days of the internet where like? In “The Lost History of the Internet” the Daily Dot explores the online communities and events that shaped us. Fascinating reading...

The Lost History of the Internet
The Lost History of the Internet When you think of the early days of the internet, what does that look like to you? Perhaps you remember your parents

I'm Watching

Still watching WeCrashed...just 2 episodes to go. I promise the review will be next week. (I've guests staying all week, not had much time for the tele! 🙏


w/In Case You Missed It


This week I sent out the monthly catch-up email. It's a useful digest of all the newsletters and posts I created in April. You'll find it on my Substack page here. 👇

In Case You Missed It In April!
All the newsletters, articles and insights from the April posts on Wiser!



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