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Verizon reorganizes into 3 groups to leverage 5G

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(Image: Corinne Reichert/ZDNet)

Verizon said it will reorganize into three business units that are focused on 5G customer experiences.

The telecom giant’s three operating units will revolve around consumer, business and Verizon Media Group/Oath.

Also: Verizon sees 5G as game changer for public safety TechRepublic | Why you can’t buy every phone you want from AT&T, Verizon CNET

Verizon said it will centralize network and IT and corporate functions to serve those units. The reorganization will be effective Jan. 1. Verizon said its financial reporting will reflect the new structure in the second quarter.

CEO Hans Vestberg said the structure the customer facing units will “optimize the growth opportunities in the 5G era.” Verizon’s global network and technology group will be led by Kyle Malady, current chief technology officer.

Also: Verizon Q3 solid as 5G ramps, but Oath is becoming a drag | What is 5G? Everything you need to know about the new wireless revolution

The units go like this:

Of the three units, 5G is likely to have the biggest impact on the business group. Intelligent edge applications, the Internet of things and analytics are likely to be improved with 5G. Verizon Business Group is likely to show the most growth going forward, but the wireline business may be a drag for the unit overall.

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Tesla Set To Deliver The First Semi To Pepsi

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In October, Tesla’s CEO revealed that the production of the Tesla Semi had begun, and it was bound to be delivered today. Tesla has already started the countdown, and we expect the unveiling event to go down at the Nevada factory. The electric truck will be dispatched to Pepsi, which had ordered 100 units. Investor reports that Tesla’s stock price increased by 7.7% on Wednesday, probably in anticipation of Tesla’s Semi first delivery.

Musk tweeted on Saturday that the “Tesla team just completed a 500-mile drive with a Tesla Semi weighing in at 81,000 lbs!” However, considering that Musk said that the company is dealing with supply chain issues and market inflation, it’s unclear if Tesla will stick to the original $180,000 price it intended to sell at when it was announced in 2017. Then again, Tesla offers a cheaper Semi that will be available for about $150,000 — but it can only achieve up to 300 miles at full load capacity. For now, we can only wait until it’s on the road to confirm if the specs match up to what was promised five years ago.  

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Coinbase Joins Elon Musk In Slamming The Apple App Store Tax

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Coinbase complained that Apple’s insistence on its cut unreasonably interfered with its business.

Coinbase’s argument was largely the same as Elon Musk’s, and the basis of Epic Games’ aforementioned lawsuit. According to all of the above, Apple was half of a duopoly: with Google, it controlled the global app marketplace. The “duopoly” part of the argument is pretty much incontrovertible: As of October 2022, both Apple and Google control 99.43% of the global smartphone market between them (via StatCounter). Both get a 30% cut of everyone’s action on its marketplace. From the perspective of Coinbase, that took too much money out of too many elements of its business.

Epic sued over that and, as noted above, won with an asterisk. Apple had restricted in-app purchases, and courts found that anticompetitive, but did require that Apple get a 30% cut of the profits, even though they took place in someone else’s app. In short, according to the Verge, the court said that if you’ve found a way to make money using iOS, you owe Apple 30%, period.

Epic thought in-app purchases should be exempted from the tax. Coinbase thinks elements of the NFT development process — in this case, gas prices to run the processing equipment necessary to mint NFTs — should be exempt from Apple’s app tax. Apple treats all user expenses on an app as in-app purchases and, per the Epic court decision, in-app purchases mean Apple gets a cut.

It’s not a simple problem, and it’s not likely to be solved anytime soon. Stakeholders and regulators have barely begun to integrate cryptocurrency and NFTs into the conventional marketplace. Who gets paid for what is likely to be a conversation for years on end. For now, all that’s certain is that conversation has begun.

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LastPass Security Breach Exposed Some Customer Data, But Details Are Still Slim

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LastPass’ new blogpost continues to be vague about the nature of the latest security incident that has affected the platform. What it does reveal, however, is that the company recently detected yet another incident of “unusual activity” within a third-party cloud storage service connected to LastPass. LastPass stopped short of revealing details surrounding the affected third-party cloud service. However, TechCrunch has hinted at the possibility of the cloud service being AWS. For those unaware, starting in 2020, LastPass began using AWS (Amazon Web Services) to store more than a billion customer records on Amazon’s cloud.

LastPass goes on to add that the security incident prompted an immediate internal investigation, following which they ascertained that the threat actor was able to access “certain elements” of LastPass’ customer information. Interestingly, LastPass has also confirmed that the unauthorized party used data from the August 2022 incident to gain access to LastPass’ systems.

While LastPass hasn’t revealed the exact nature of customer information that has been breached, they maintain that customers’ passwords have not been affected. LastPass also said it had engaged the services of Mandiant — a leading security firm — to help them with the investigation. The company has also notified law enforcement agencies about the same. The company has promised to share more updates surrounding the latest incident after they conclude an internal investigation.

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