Startup Watch: Paint is back, punished Google, and tech titans AI clash
The world of entrepreneurship news is a complex one, with people ever ready to give their two cents on how you should be running your business, pitching your business and what’s trending.
Here is our tribute to Paint, what you should know about the latest clash between two tech giants, MENA’s startup money, and Google bearing European sentences.
Paint saved by its fans: We all remember our first sketches and the colorful serpentine lines that made every little fella so proud of their drawing. Now at 32 years old, the basic graphics editor Microsoft Paint will no longer exist in the next Windows 10 update. Microsoft announced that, alongside Outlook Express, Reader app and Reading list, Paint will be among the features that will be removed. However, the large nostalgia wave the news brought to the global public, has led Microsoft to save MS Paint by putting it on the Windows Store. An example of how fans can be a true lobbying power!
Ladies first: According to a new report by consultancy firm PwC, women in the Middle East are apparently doing better at securing seed crowdfunding than men. The report said that though men seek higher funding amounts, the pledged sums for female-led campaigns are almost 30 percent higher. Girl power!
Money for thought: The MENA’s entrepreneurship ecosystem has been flourishing in the past few years, boosted by investors’ confidence, and eventually extra non-shy bucks. According to the H1 2017 report by Magnitt, 88 startups closed funding deals in the MENA, worth $290 million, including $150 million investment in Careem. The coming days seem to be more promising.
Open Sesame Africa! Just like the hope - and fortune- the story recalls, Alibaba founder and executive chairman Jack Ma, announced a $10 million African Young Entrepreneurs Fund addressing African SMES and innovative entrepreneurs. Beside the cash, Alibaba will be offering mentorship and assistance, in addition to collaboration with African universities to teach young talents internet technology.
Wamda of the week: Hands off my phone: In an era where everyone is hooked to the internet, smartphones, smartwatches, and the wide plethora of connected devices, cybersecurity is definitely a concern. Here you can learn more about the latest invention in encrypted phones. Some are very expensive so you might need to reconsider buying a new car.
When Europe punishes Google: Google has been found guilty for abusing the European market, dominating e-shopping, and unfairly directing visitors to its comparison shopping service, Google Shopping, to the detriment of its rivals. Google was sentenced to pay a $2.7 billion fine. Though the requested amount might not be a lot for the mega company, it is the antitrust case that is worrying.
Honestly, no: At first, you might be happy to know that a free Arabic iPhone app has become the best performing app in the US’ app store. But when you know that it is used for bullying, you won’t be as pleased. Sarahah, (which means frankness or honesty in Arabic), was described as a "breeding ground for hate". Consisting of receiving anonymous messages from people, each user is given a username, and any user can send an anonymous message. Receivers can only read and favorite messages without being able to reply. This feature turns the app into a proper attack arsenal, which is annoying and worrying in the same time.
Clash of the titans, in real life: Last Tuesday, Tesla chief executive and rival billionaire Elon Musk accused Facebook’s Mark Zuckerberg of having a limited understanding of AI’s threat. Zuckerberg responded by saying that such accusations are negative and irresponsible. Can we just focus on boosting the industry?
Feature image via Wamda.