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Chinese App TikTok is Most Downloaded App in the World

A really, really obscure Chinese app named “TikTok” is now the most downloaded app in the world, surpassing the combined downloads of Facebook, Instagram, Snapchat and YouTube in October.

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Arthur J. Villasanta – Fourth Estate Contributor

Beijing, China (4E) – A really, really obscure Chinese app named “TikTok” is now the most downloaded app in the world, surpassing the combined downloads of Facebook, Instagram, Snapchat and YouTube in October.

Launched only in September 2016, TikTok is a social media app for creating and sharing videos, as well as live broadcasting.. It has since become one of the fastest-growing apps worldwide with a large community creating short music videos.

TikTok is a subsidiary of ByteDance, a Chinese IT firm that operates a range of machine learning-enabled content platforms. Last month (October), ByteDance became the most valuable startup in the world with a value of $75 billion.

Earlier this year, ByteDance merged Chinese short-form video app Musical.ly with TikTok as a means of entering the U.S. market. That merger has worked wondewrs.

Last month, TikTok was the top download at the U.S. App Store, ahead of Facebook. It also surpassed Facebook, Instagram, YouTube and Snapchat in monthly installs for the first time in September.

TikTok’s installs were also more than those of Facebook, Instagram, Snapchat and YouTube in the U.S. in October, said app intelligence firm Sensor Tower. TikTok surpassed the four other apps in terms of daily downloads on Sept. 29 with 29.7 percent of the downloads from this group of apps.

TikTok, which is called Douyin in China, is continuing to increase its market share among this group of apps. It reached as high as 42.4 percent of downloads among the apps on Oct. 30.

TikTok’s installs in September grew 31 percent from August to reach 3.81 million on the App Store and Google Play combined. This was larger than No. 2 Facebook, which had 3.53 million first-time installs. Year-over-year, TikTok’s U.S. installs were up 237 percent from 1.13 million in October 2017.

TikTok is also surpassing some of the leading social apps on the App Store’s Top Charts. It moved ahead of Facebook (No. 7) this week and Messenger (No. 5). It now holds the No. 4 spot. Ahead of it are YouTube (No. 1), Instagram (No. 2) and Snapchat (No. 3).

Analysts said TikTok’s gains have come from increased ad spend across Facebook; AdMob (Google’s mobile ad platform); in-app ad platform Vungle and others. Other gains are attributed to the merger with Musical.ly.

In June, TikTok reported a global monthly active user count of 500 million across 150 countries and regions.

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Finance

Nike Unveils ‘Nike Adapt BB’ Self-Lacing Shoe

Nike has unveiled its second-generation “self-lacing shoe” that adapt to a wearer’s foot at the touch of a button or an app.

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Arthur J. Villasanta – Fourth Estate Contributor

Washington County, OR, United States (4E) – Nike has unveiled its second-generation “self-lacing shoe” that adapt to a wearer’s foot at the touch of a button or an app.

“Nike Adapt BB” pairs a smartphone with the self-lacing shoe to adapt to a wearer’s foot at the touch of a button. BB stands for basketball and it identifies who this shoe was developed for.

Nike will begin offering the Adapt BB in February for $350, or less than half the Hyperadapt’s original price of $720.

“Say goodbye to the shoelace,” said Michael Donaghu, Nike’s director of global footwear innovation.

Donaghu said the new shoe is all about fit and is targeted directly at basketball players.

Nike explains Adapt BB has a near-symbiotic relationship with its digital app thanks to opt-in firmware updates. It explained that when a player steps into the Nike Adapt BB, a custom motor and gear train senses the tension needed by the foot and adjusts accordingly to keep the foot snug.

The tensile strength of the underfoot lacing can generate 32 pounds of force to secure a foot throughout a range of movement. FitAdapt tech, the shoe’s “brain” then kicks-in. A user can input different fit settings depending on different moments of a game by manual touch or by using the Nike Adapt app on a smartphone.

For example, a player can loosen the shoe before tightening it up as he re-enters the game after a time-out. Nike said varying the fit is necessary because a foot can expand almost a half-size during play over the course of a basketball game. A level of fit that’s comfortable at one point might feel constrictive 20 or so minutes later.

Adapt BB enables these minute changes in tightness using the companion app, leading to 40% more “lockdown” for feet.

The app also lets users change the color of the glowing twin dots on the midsole of the shoe to 14 different colors. Adapt BB comes with a wireless charging mat that can charge the shoes in three hours for two weeks of wear time. The new shoe is also connected.

It can send data about usage and analytics back to Nike, should users allow that. The data might also eventually be used to track athletes’ movement and performance, which Nike says can help it offer new products or services to customers.

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SpaceX will Fire 577 Employees as Launch Business Sours

SpaceX will fire 577 employees over the next few days in an effort to stay lean as it anticipates fewer launches and higher expenses this year.

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Arthur J. Villasanta – Fourth Estate Contributor

Hawthorne, CA, United States (4E) – SpaceX will fire 577 employees over the next few days in an effort to stay lean as it anticipates fewer launches and higher expenses this year.

The total of those being let go represents close to 10% of the company’s total workforce of some 6,000 employees. Most of those to be fired work at the company’s headquarters and rocket factory located at Hawthorne, California.

SpaceX President and CEO Gwynne Shotwell in late 2018 warned there might be a slowdown in orders from the geo-telecommunications industry, which is the lifeblood of SpaceX.

“Next year you won’t see as many launches as you see in 2018,” said Shotwell. “2019 is a lower-cadence year.”

Ironically, Space X had its best year in 2018. It successfully launched 21 times, giving it the U.S. record for most launches in a year.

In a statement about the firings, SpaceX said that to “continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company.”

It said the mass firing “is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary.”

“It’s always unfortunate when there are large layoffs,” said Jan Vogel, executive director of the South Bay Workforce Investment Board.

“We’re in touch with SpaceX and we’re to provide transitional services to impacted employees. There are a lot of aerospace companies in the Los Angeles area. We’re ready to help people.”

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PG&E will File for Bankruptcy to Avoid $30 Billion in Lawsuit Damages

Pacific Gas & Electric Corporation (PG&E), parent company of the utility that provides electricity and gas to most of Northern California, has announced its intention to file for Chapter 11 bankruptcy protection to stay alive amidst billions of dollars worth of lawsuits associated with the catastrophic wildfires that occurred in 2017 and 2018.

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Arthur J. Villasanta – Fourth Estate Contributor

San Francisco, CA, United States (4E) – Pacific Gas & Electric Corporation (PG&E), parent company of the utility that provides electricity and gas to most of Northern California, has announced its intention to file for Chapter 11 bankruptcy protection to stay alive amidst billions of dollars worth of lawsuits associated with the catastrophic wildfires that occurred in 2017 and 2018.

PG&E’s liability could exceed $30 billion should it be found legally responsible for some or all of the costs connected with the 2017 and 2018 Northern California wildfires. These catastrophes include the Camp Fire in November 2018, which is the deadliest and most destructive wildfire in California history to date.

PG&E stands on precarious legal grounds. Cal Fire, California’s fire agency, determined in June that PG&E equipment ignited 17 wildfires across Northern California in 2017. In 12 of these fires, the agency’s findings were referred to the appropriate county District Attorney’s offices for potential violations of state law.

California law says utility companies can be held liable for fire damage caused by their equipment, even if they weren’t negligent in maintenance.

State regulators are also investigating PG&E’s potential culpability in the Camp Fire that killed some 86 people; destroyed more than 18,000 structures and inflicted damage worth over $16.5 billion.

“We believe a court-supervised process under Chapter 11 will best enable PG&E to resolve its potential liabilities in an orderly, fair and expeditious fashion,” said interim CEO John Simon. “We expect this process also will enable PG&E to access the capital and resources we need to continue providing our customers with safe service and investing in our systems and infrastructure.”

Shares of PG&E Corporation plummeted more than 51 percent on Monday afternoon. The company has lost more than two-thirds of its market value since the Camp Fire.

The Calaifornia Legislature, however, might still take action to protect the company from 2018 fire liabilities between now and when PG&E actually files for Chapter 11.

Democratic state Sen. Jerry Hill, a longtime critic of PG&E, said that if Monday’s bankruptcy announcement is a company tactic to pressure the Legislature for a bailout, it won’t work.

The company’s already considrable financial problems only worsened following the Camp Fire. This would be the company’s second bankruptcy since it first filed for bankruptcy in 2001.

The company was convicted of felonies in a deadly gas line explosion, and now faces those potentially crippling wildfire liabilities and safety lawsuits.

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