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Apple’s Tim Cook just gave a speech in Brussels. In the heart of the European Union today, he called on the US government to follow the EU’s lead and adopt a “comprehensive” EU-style policy when it comes to protecting consumer data.

Speaking up at a time when many internet users are still livid over large tech players like Facebook and Google selling their data, losing their data, or infringing on their personal rights, Tim Cook picked his timing perfectly. When he finished, Apple’s chief executive received a powerful round of applause.

Tim Cook Lauds the EU’s GDPR Policy

As Apple’s chief, Cook stated that it was now time for the rest of the world to take the handling of consumer data seriously. He said that he believed the US should take a similar line to the GDPR (General Data Protection Regulation).

The GDPR was put into effect from May 2018 by the EU to protect users’ personal information. And it’s a policy that could see many large companies like Facebook that are too lax with data pay exorbitant fines. Mr. Cook said:

“We [Apple] are in support of a comprehensive federal privacy law in the US.”

Cook’s speech seemed to delight the listening members of the European Parliament. While for many people and businesses located within the EU, the GDPR has become somewhat of a headache, forcing internet users to take several extra steps and tick checkboxes before they can open a web page, the intentions of the law are solid. And the penalties are high.

In fact, the GDPR allows regulators in member states to fine companies by as much as €20 million ($22 million), or 4% of their annual revenue, which can take that figure a lot higher.

The Trump administration has made no secret of their dislike of the GDPR, saying that it imposes unnecessary burdens on global companies. Moreover, they have accused the EU of creating guidelines that are too vague and unclear.

Cook Warns of the Risks of Data Misuse

Those in favor of stronger consumer data protection, including, it seems, Apple’s Tim Cook, warn of the risks that many internet companies present, blatantly misusing and abusing the personal information of their users. He said that we had reached a point where:

“Companies know you better than you know yourselves… This is surveillance, and these stockpiles of personal data only enrich the companies that collect them. This should make us uncomfortable and unsettle us.”

Indeed. Let’s just hope that the so-far squeaky-clean tech giant doesn’t get caught up in a data scandal of their own. That might make Cook wish he hadn’t been so vocal in his support of hefty penalties.

Featured image from Apple.

The US is now home to the first sign language store of Starbucks, as reported by the Washington Post yesterday. With 24 deaf, hearing impaired, and hearing employees, even the logo is spelled out in American Sign Language (ASL).

Starbucks Supports the Deaf Community

Rossann Williams, the US retailer’s executive vice president, first announced this news in July 2018. US employees were tasked with visiting Starbucks signing store in Kuala Lumpur, Malaysia, to observe the signing branch and create new ideas for the store in Washington, D.C.

Instead of calling out customers when their drinks are ready, the new store has a screen that displays the names as well as the number of the drink.

Starbucks has launched the signing store with the aim of providing more job opportunities for the deaf community. In fact, hearing customers are also encouraged to learn sign language by looking at Sign of the Week words on top of the register.

We’re proud to introduce our first U.S. Signing Store. Now open in Washington, D.C. 💚 #StarbucksSigns pic.twitter.com/ZLGeKVGFJ7

— Starbucks Coffee (@Starbucks) October 23, 2018

Employees wear an apron that shows Starbucks written in sign language as well as an I Sign pin. A mural is also painted on one side of the store by a deaf artist and professor from Gallaudet University.

According to Camille Hymes, the regional Vice President of Operations at Mid-Atlantic, DC was chosen because the city has always supported the deaf community. Reports also show that DC. has the largest deaf population in the entire US.

Howard Rosenblum, CEO of the National Association of the Deaf, said that the employment and underemployment rates of deaf people are as high as 70%. Since it’s rare to see deaf people in high-level jobs, Starbucks plans to break this barrier and allow these people to succeed in every way possible. Kylie Garcia, a shift supervisor at DC’s first signing store, said:

The manager is always a hearing person because there’s a perception of limited ability with deaf people.

She previously worked at the coffee shop’s branch in Target. However, her job was to make the drinks while the rest of the employees would deal with the customers. Even though customers are still getting used to the new design, the store plans on collecting reviews and improving their structure.

Featured image from Starbucks.

Icon Ventures recently announced the expansion of its newest fund, from $265 million to $375 million. The re-opening of the fund and the $110 million as additional capital are meant to keep the fund “properly sized to today’s market opportunity,” according to a message from Joe Horowitz, Managing General Partner.

Icon Ventures positions itself as a traditional, experienced venture capital firm that’s looking to keep up with new trends, without quitting on business best practices.

US Venture Capital Investment to Reach $100 Billion in 2018

With so much capital flowing, Icon Ventures acquired more money to counter competitors like Softbank’s megafund. This way, they can continue to take advantage of investment opportunities, while remaining competitive and facing the challenges of the future:

“Though we are satisfied with what we have accomplished, we need to be prepared for what is ahead. It took a lot of planning and hard-work to position our firm for the future, to be properly positioned for the environment and to believe we are still… “busy being born.”

Joe Horowitz also spoke about the current situation of the capital market in the US. The tech investor has several concerns regarding the high number of unicorns that gather impressive capital during financing rounds. In the third quarter of 2018, 39 unicorn companies raised $8 billion, he explained.

Horowitz warned that the mega funds that finance tech revolutions across various industries could damage the balance of the traditional venture capital world. The manager also worries that too much capital could end in the wrong hands, saying:

“These are indeed unusual times in the venture capital world.”

Joe Horowitz Icon Ventures Manages over $1 Billion

With almost 15 years in the market, Icon Ventures has invested in 82 companies helping to create over 22,000 new jobs. The company’s portfolio includes 32 successful exits, reaching $42 billion in exit value. With $6.8 billion equity raised, the firm mostly invests in digital media, cloud computing, cybersecurity, and clean tech.

The company is known for its focus on Series B and C rounds. Among Icon’s partners, there are companies like 41st Parameter, FireEye, Calypto, News Corp, Proofpoint, and Palo Alto Networks. Icon Ventures has a central office in Palo Alto, as well as a solid presence in San Francisco.

Featured image from Shutterstock.

Founder and former CEO of Oculus VR Brendan Iribe has joined the list of associate founders calling it quits with Facebook. While making this known on his Facebook account, he expressed profound gratitude for the cooperation he enjoyed with the rest of the team which inspired the birth of a new industry.

“I’m deeply proud and grateful for all that we’ve done together. We assembled one of the greatest research and engineering teams in history, delivered the first step of virtual presence with Oculus Rift and Touch, and inspired an entirely new industry.”

Iribe described the strides made in the course of his six-year stint at Facebook. His working relationship with the network of experts at Oculus and Facebook was a transformative experience in his career.

The reasons behind his decision to take the exit route may not be known yet, but it will be recalled that co-founder of Oculus Palmer Luckey left Facebook following his political postures which got the company on the headlines for the wrong reasons. He was said to have funded “Nimble America,” a conservative group responsible for the creation of those viral, anti-Hillary memes.

The revelation of his misogyny accounted for the resignation of many female employees who were working with Facebook.

Brendan Iribe Follows Mass Exodus Trend from Facebook

Facebook has lately been struck by the exodus of big names among whom are Instagram Co-founders Kevin Systrom and Mike Krieger in September. The pair was alleged to have bowed out due to the ensuing tension they had in management with Facebook CEO Mark Zuckerberg.

Both parties disagreed on issues concerning changes to the product, changes to Instagram personnel, and Zuckerberg’s overwhelming control over the unit.

WhatsApp co-founders Brian Acton and Jan Koum forfeited $900 million and $400 million respectively by announcing their exit from Facebook.

The pair exercised the escape clause in their contracts with Facebook following a series of differences they had with the parent company. The issues which allegedly led to their exit from Facebook looked minor on the surface but might have been more complicated.

Both parties had different opinions on bathroom designs, desk sizes, and, chairs. The spat which followed prompted Facebook executives in labeling Brian Acton as “low class.”

Threats surrounding the security and privacy of user data including the spread of wrong information perhaps accounted for a large number of issues these co-founders had with Facebook.

Last month, Facebook found security issues that gave the opportunity to access the data of millions of Facebook users. Zuckerberg described it as a dire security threat which will be addressed urgently. The disclosure further compounded the decline in Facebook shares which slipped by 2.6%. Zuckerberg noted:

“Security is an arms race, and we’re continuing to improve our defenses… This just underscores there are constant attacks from people who are trying to underscore accounts in our community.”

Facebook CEO Mark Zuckerberg acquired Oculus VR for $2.3 billion on March 25, 2014. The acquisition was met with a spate of criticisms by backers who saw it as a slap in the face to the crowdfunding used in developing Oculus Rift in 2012.

Featured image from Rappler.com