This week in tech: Snapchat and hyperloop travel
The 7 tech stories to read this week
As we press our hurried digits to our smartphones, we often find we’re too busy using the latest technology to pay attention to what’s coming next. In an effort to help you keep up, we’ve compiled our own digest of the tech world’s latest developments.
Elon Musk has made no secret of his plans to revolutionise travel. The Tesla and SpaceX CEO recently completed a second round of testing for a prototype Hyperloop: a new mode of transport using depressurised tubes and electromagnetic levitation to travel at over 760mph. Musk recently tweeted plans to build a hyperloop tunnel between Washington DC and New York, claiming the journey would take a mere 29 minutes.
Despite entering in a multi-million dollar agreement with Netflix to stream their various properties, Disney has announced plans to withdraw its films by the end of 2019, in order to offer its own stand-alone platform. Parents, ready your wallets.
As cryptocurrencies such as Bitcoin and Ethereum gain greater social and financial capital, Microsoft is wisely entering the fray. Its blockchain network Coco, set for completion in 2018, will act as an open source ledger for businesses to manage their blockchain transactions securely.
As if we didn’t already spend enough time on Facebook, the social media hub is now set to launch a dedicated video service, Watch, directly competing with the likes of Youtube and traditional TV channels. Personalised to tailor relevant content to you and your friends, Watch promises a variety of dramas, cooking shows, and lifestyle content.
In a collaboration with Chinese telecommunications company Huawei, two Oxford University researchers have created a comprehensive start-up valuation system, analysing patents and company infrastructure to gauge the likelihood of commercial success. The highly accurate model was able to correctly estimate the value of 85% of tested companies.
Is there anything we won’t buy from Amazon? The world’s largest online retailer is reportedly developing food technology to bring ready-to-eat meals to customers’ doors. Based on tech used by the US military, the pre-prepared meals won’t require refrigeration, making long-haul delivery a very attractive option.
Snapchat’s parent company is bleeding money, with quarterly losses of nearly $450m, compared to $116m the previous year. Despite a large youth user base and some intriguing camera products, the company is failing to monetize its services and is seen as a low priority for advertisers focusing on Facebook and Instagram.
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