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Ring

Amazon’s Ring finally debuts its in-car security camera

Amazon owns the home security and smart home business Ring LLC. The Ring Car Cam is now accessible for preorder, more than two years after it was first announced. The company’s first dashboard security camera is now available for purchase at Amazon.com or Ring.com for $199.99, a $50 discount off the list price. It will start shipping to US customers on February 15.

Ring
Image Source: geekwire.com

The new Ring Car Cam, which will be available later this year, adopts a novel strategy for the company by taking its security features to the road. A set of HD cameras are housed inside the modern design that sits on the dashboard and faces both into and out of the vehicle.

The night vision-enhanced wide-angle lenses encompass the road and the interior of the vehicle to guard against both accidents and break-ins. Ring adds its customary software to the hardware to enhance the Car Cam interaction.

Real-time notifications are powered by motion alerts, and a live view function that works well with two-way chat is also included.

Not to mention that the entire setup is Alexa-compatible, so one can ask the voice assistant to automatically record film to capture anything—including anything one has just passed on the road.

While driving, video can be automatically or manually recorded. If users purchase a Ring Protect Go plan, which includes LTE connectivity and costs $6 per month or $60 per year, they can access a live feed from the camera while they’re not in the car.

Additionally, the subscription includes 180 days of cloud storage for videos as well as real-time incident alerts in the Ring app. When the camera is linked to Wi-Fi, such as when parked in the driveway or via the hotspot on the phone, it can access local storage. While driving, video can be automatically or manually recorded.

If users purchase a Ring Protect Go plan, which includes LTE connectivity and costs $6 per month or $60 per year, they can access a live feed from the camera while they’re not in the car. Additionally, the subscription includes 180 days of cloud storage for videos as well as real-time incident alerts in the Ring app.

When the camera is linked to Wi-Fi, such as when parked in the driveway or via the hotspot on your phone, it can access local storage. When using the Traffic Stop feature of the Ring Car Cam, users can instantly begin recording during a stop or after an accident, for example, by saying “Alexa, record.”

The OBD-II port on the vehicle serves as the device’s power source. The cable is neatly secured between the windscreen and the dashboard with the aid of a tool that attaches to the windscreen.

For watching both recorded and live video from its two cameras, the camera integrates with the Ring app. For two-way communication from the automobile or to get in touch with others who are in the car, one may also utilize the built-in microphone and speaker.

Ant Group

Jack Ma’s Ant Group Wins Approval for $1.5 Billion Capital Raise

The government-ordered makeover of the financial technology company is progressing after Chinese regulators accepted a plan by billionaire Jack Ma’s Ant Group Co. to fund 10.5 billion yuan ($1.5 billion) for its consumer unit.

Ant Group
Image Source: forbes.com

A bid by billionaire Jack Ma‘s Ant Group to raise 10.5 billion yuan for its consumer division was authorized by Chinese regulators, signifying headway in the government-ordered reorganization of the financial tech firm.

According to a notice published on December 30, the Chongqing branch of the China Banking and Insurance Regulatory Commission approved the company’s intention to increase its capital to 18.5 billion yuan.

An entity held by the city of Hangzhou would hold 10% of the company’s shares after the deal, making it the second-largest shareholder behind Ant, which committed 5.25 billion yuan as part of the plan.

The deal removes a significant barrier for Ant as it works to satisfy regulatory requirements in the wake of a crackdown on its operations following the failure of its big initial public offering in 2020. Ant is still trying to receive a financial holding license that will oversee it more like a bank. Chinese officials have curbed shadow banking over the past few years to lower economic risk.

The approval is another indication that Beijing is easing its position on its enormous internet sector, which has historically been a major driver of growth as the second-largest economy in the world struggles.

Authorities granted approval for the largest group of brand-new major game releases in months last week, enabling Tencent Holdings to restock a pipeline that had been depleted by the crackdown.

After the Ant news broke and the Hang Seng Tech Index continued its uptrend to gain 3.3%, shares of Ma’s Alibaba increased by as high as 7.7%. While Baidu Inc. rose by 6%, Tencent increased by over 4%. According to Leon Qi of Daiwa Capital Markets Hong Kong Ltd., “we view it as a signal on Ant’s regulatory rectification wrap-up.”

Once the funding is finished, he predicted that the consumer division will be able to manage 1.1 trillion yuan in loans. Jiangsu Yuyue Medical Equipment & Supply Co. and Sunny Optical Technology Group Co. are two additional recent investors.

The consumer finance division combines Huabei and Jiebei, Ant’s two most successful online lending businesses. A previous attempt to increase capital to 30 billion yuan has been toned back and is now included in the present plan.

One of China’s bad-debt managers, Cinda Asset Management, canceled a deal to invest 6 billion yuan for a 20% interest in the market leader in consumer financing last year without providing a rationale.

Jack Ma has kept a quiet profile since Ant’s IPO was put on hold. Alibaba reaffirmed that Ma “intends to reduce and thereafter limit his direct and indirect economic interest in Ant Group over time” to a level that does not exceed 8.8%” in a filing in July.

Afeela

CES 2023: Sony and Honda reveal Afeela, their joint EV brand

According to Sony Honda Mobility Inc., its electric vehicle will debut under the brand Afeela. This marks the newest entry in a market already packed with established players like Tesla Inc.

Afeela
Image Source: techcrunch.com

Yasuhide Mizuno, chief executive officer of Sony Honda Mobility, revealed the first prototype of the project during Sony’s CES press conference in Las Vegas on Wednesday. The Afeela prototype was unveiled by Sony and Honda over a year after the two companies announced their intentions to jointly produce and market electric automobiles.

The four-door sedan was demonstrated on stage as Sony CEO Kenichiro Yoshida discussed the company’s mobility strategy, which places an emphasis on creating automobiles with autonomous features and the ability to turn into “moving entertainment spaces.”

According to the CEO of Sony, the Afeelas’ first preorders will take place during the initial half of 2025, and sales will start the following year. Buyers in North America will receive the first shipments in the spring of 2026.

The new EV will initially be produced at Honda’s North American factory and will have Level 3 automated driving features under certain restrictions, according to prior statements from Sony and Honda. In a vehicle with level 3 autonomy, the driver can still operate the vehicle in congested areas, but only when the system explicitly requests it.

The incorporation of external media on the front of the car, which enables it to communicate with other drivers and transmit critical information, was one of the new design aspects that Sony presented at the event.

The prototype is also outfitted with 45 cameras and sensors both inside and outside the car to assure security. To avoid accidents, the in-cabin sensors will keep track of the driver’s condition.

As per Yoshida, CEO of Sony, Afeela will also offer top-notch entertainment to its patrons. The Sony-Honda JV will use the 3D computer graphics game engine Unreal Engine from Epic Games in its automobiles to help envision not only entertainment in cars but also connectivity and safety.

CEO Yoshida noted, “In addition to movies, games, and music, we envision a new in-cabin experience using our expertise in UX and UI technologies.”

The Snapdragon digital chassis from Qualcomm, along with its system-on-a-chip technology, will be the foundation for Afeela cars. Through the continual inclusion of games and other improvements over the period of owning one of its vehicles, Tesla Inc. has established the benchmark for connected vehicle experiences.

Together with electronics companies’ expertise in entertainment, networking, and sensors, Sony, Honda, and numerous European manufacturers, including Volkswagen AG, are now striving to accelerate the development of intelligent electric vehicles.

According to Epic Games Chief Technology Officer Kim Libreri, the company would collaborate with Sony Honda to “deliver connected automotive experiences that lead the way not only in visual communication and safety but also entertainment.”

Luxexcel

Meta buys smart lensmaker Luxexcel to further AR ambitions

Meta is increasing its investment in the metaverse by acquiring Luxexcel which is a Dutch firm that focuses on 3D-printing corrective lenses for smart glasses. The information was first confirmed by the Dutch newspaper De Tijd via TechCrunch, and Meta has now clarified the acquisition to The Verge.

Luxexcel
Image Source: unboxedmagazine.com

We’re excited that the Luxexcel team has joined Meta, deepening the existing partnership between the two companies,” Meta says in a statement provided by Ryan Moore, the company’s head of financial communications.

Source: theverge.com

Whilst details of the deal are uncertain, Meta CTO and Head of Reality Labs, Andrew Bosworth disclosed in a blog article previously this month that the firm is spending “about half” of the metaverse-focused team’s operational costs in augmented reality (AR) with the additional half going toward constructing virtual reality products (VR) since it continues to lose billions.

Luxexcel which was established in 2009, claims to be able to incorporate holographic film and projectors into prescription lenses to develop an augmented reality environment.

In 2021, it collaborated with WaveOptics, the firm that supplies the displays for Snap’s Spectacles, to develop a lens equipped with waveguides, or perhaps the transparent display technology required to overlay virtual objects on a real-world environment of the user.

Just as Meta works on its very first set of AR glasses, it is possible that we will not receive a final piece for some time. According to Bosworth, Meta’s AR glasses will necessitate years of upgrades as the company strives to make the device “slimmer, lightweight, efficient, and more effective.”

As per The Verge’s Alex Heath, the first edition of Meta’s AR glasses would be accessible only to developers, similar to Snapchat‘s Spectacles, with two subsequent pairs potentially becoming accessible to customers over several years.

However, Meta is getting closer to its target, as it has added color video passthrough to its expensive latest Quest Pro headset. It also collaborated with Ray-Ban to roll out the Ray-Ban Stories which is a pair of smart glasses that include cameras, speakers, and also microphones, in 2021. The lenses do not include built-in displays, however, this recent venture may be able to help Meta achieve that in the future.

FTX

Bahamas authorities seized $3.5 billion in FTX assets

The Bahamas’ securities regulator revealed on Thursday that it had on November 12 confiscated $3.5 billion in digital assets belonging to FTX Digital Market. 

FTX
Image Source: businessinsider.com

The watchdog confirmed the exact amount seized from FTX’s Bahamian subsidiary, FTX Digital Markets, in a media release late on Thursday. It also stated that the monies were transferred into its own digital wallets “for safekeeping.” The regulator previously acknowledged that it was in possession of some of FTX’s digital assets, but it did not say how much.

According to the commission, the monies were worth more than $3.5 billion based on market rates at the time of transfer. The transfer happened on November 12, the day following FTX’s filing for Chapter 11 bankruptcy relief in the United States. The money is being kept “temporarily,” according to the Bahamian Securities Commission until the Bahamas Supreme Court orders it to be given to clients, creditors, or estate liquidators.

The regulator claimed that it withdrew the money after learning about cyberattacks on the Bahamian unit of FTX from discredited co-founder Sam Bankman-Fried. Following FTX’s bankruptcy filing, the company was allegedly the subject of a breach that resulted in the theft of $477 million from its cryptocurrency wallets.

The perpetrator’s identity is yet unknown. The Bahamian regulator has come under fire for its part in the demise of FTX and related litigation actions. The commission sought to manage FTX’s bankruptcy procedures in the Bahamas.

The move was opposed by FTX’s American attorneys, who claimed in a filing on November 17 that the regulator worked with Bankman-Fried to get “unauthorized access” to FTX systems in order to transfer digital assets to its own possession. 

The Bahamian regulator responded by calling the allegations “inaccurate” and stating that it moved the funds to safeguard the interests of investors and clients. Bankman-Fried, 30, who was formerly the CEO of FTX, was detained in the Bahamas before being extradited to the US, where he is currently awaiting trial on accusations of fraud, conspiracy to launder money, conspiracy to defraud the US, and conspiracy to break campaign finance rules.

His parents, who are both Stanford law professors, agreed to sign a $250 million recognizance bond and pledge their California house as security in exchange for his release. According to news sources, two additional friends who had substantial assets also signed. After posting a $250 million bond, he was freed last week.

Michael Lewis, the author of “The Big Short,” has reportedly been visiting him at his parents’ California home. On January 3 in federal court in Manhattan, Bankman-Fried is anticipated to be charged and enter a plea. 

The SEC alleges in its civil complaint, “Bankman-Fried was orchestrating a massive, yearslong fraud, diverting billions of dollars of the trading platform’s customer funds for his own personal benefit and to help grow his crypto empire.”

The announcements made by the Bahamian regulator are favorable for FTX’s clients and creditors, but it is uncertain whether they will receive their money right away since the bankruptcy of FTX is being handled in the United States in accordance with American law while the company is being liquidated in the Bahamas. 

amazon

Amazon planning a standalone app for sports content

According to a source with firsthand knowledge of the project, Amazon is developing a stand-alone app for streaming sports material, the Information stated on Wednesday. 

Amazon
Image Source: techjuice.pk

Amazon Inc. is planning to create a standalone streaming platform that is exclusively focused on sports after experiencing tremendous success in the video streaming sector.

One of the main draws for cable TV consumers who are switching to streaming platforms in sports. This explains why there is fierce competition among streaming services for the sports streaming market. As more Americans migrate from pay TV memberships to streaming apps, sports continue to be one of the tops draws for live viewing.

The action will probably go hand in hand with Amazon’s efforts to increase its focus on sports content via its Prime Video service, a crucial avenue for luring customers to its e-commerce platform. 

At the moment, sports coverage is covered by an Amazon Prime Video subscription, which costs $14.99 USD each month. According to the source, Amazon would either keep offering the same package price or start charging customers a separate monthly subscription to receive sports content.

The business last year successfully negotiated an 11-year contract for the only media rights to the NFL’s “Thursday Night Football,” which will start in 2023. 

In order to better compete with the leader in sports streaming, Walt Disney Co., Amazon already has the rights to stream events like the National Football League’s Thursday Night Football franchise and Premier League soccer matches in the UK.

A multi-year agreement to exclusively stream the NFL’s Sunday Ticket package of events in the United States was also signed last week by YouTube, a division of Alphabet Inc. 

According to the article, it was unclear when Amazon would launch the sports app or if it would proceed with the plan. To meet growing costs and a decline in demand as individuals and businesses cut down on spending due to inflation anxiety, the corporation has been examining unproductive business segments and has laid off some employees. 

The development of a stand-alone sports app by Amazon suggests that the business is looking to explore new avenues for monetizing its live sports investments.

It wouldn’t be shocking if the firm intended to charge a separate membership price for sports coverage with this separate app given the high costs of streaming rights.

Additionally, Amazon can choose to provide a different subscription tier with access to its sports content.

Since other tech behemoths have also signed sports streaming agreements, Amazon isn’t the only significant corporation seeking to maintain its investment in live sports programming.

In a historic streaming deal last week, Google’s YouTube acquired the NFL Sunday Ticket. The rights to Major League Baseball and Major League Soccer games, on the other hand, have been acquired by Apple. 

Walt Disney Co. currently dominates the sports streaming business, but once Amazon enters the space with its resources, we should expect some fierce competition.