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☆ Big Tech's had a devastating year. Here's why we're holding on
▼ + stars: | 2022-12-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Amazon Amazon has been battling with rightsizing its business due to the pull-forward demand it experienced during the COVID-19 pandemic. We'd also like to see how the company is addressing slower growth at its cloud business, Amazon Web Services (AWS). Microsoft Microsoft has been pressured by weakening demand for personal computers, the strong U.S. dollar and tightening enterprise budgets for the cloud. "I think the company could have a decent quarter and it hasn't had to issue a warning about what is now the declining dollar," Jim said. The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone and a laptop screen.

☆ Starbucks and Amazon's PR nightmare is coming true as one of their combined stores pushes to unionize
▼ + stars: | 2022-12-14 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +6 min

About 30 Starbucks employees at the New York store will participate in the vote, Bloomberg reported. One of the Starbucks Amazon Go stores is considering unionizing this week. Roughly 30 Starbucks employees at the Times Square location will decide on December 15 whether to join Starbucks Workers United. The workers were protesting "short staffing and the company's failure to bargain with union stores," Starbucks Workers United said in a press release. A Starbucks Amazon Go cafe StarbucksBoth Amazon and Starbucks have cultivated reputations as progressive employers and pushed back against unionsBoth companies have painted themselves as forward-thinking on worker treatment and benefits.

FTX attorney James Bromley told Dorsey that the Bahamian government has previously obtained information from FTX Digital Market's liquidators and used it to siphon digital assets away from FTX. The Securities Commission of the Bahamas (SCB) has previously disputed FTX's "misstatements" about the Bahamian government's response to FTX's collapse. Chris Shore, an attorney for the Bahamas-based liquidators, told Dorsey that the liquidators were not working at the direction of the Bahamian government. Dorsey began the hearing by asking whether FTX and the Bahamas liquidators could reach a compromise on data sharing before Bromley shot that suggestion down. "Unlike the Chapter 11 process, there is no transparency in the process in the Bahamas," Ray said.

☆ A brutally honest internal study about Amazon's 'Earth's Best Employer' project slammed the company for creating 'stress, burnout, churn, and a cut-throat atmosphere'
▼ + stars: | 2022-12-14 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

Amazon has made becoming "Earth's best employer" one of the company's top priorities. The study identified six focus areas for Amazon to work on to become Earth's best employer. To fix those issues, the company identified six improvement areas, according to a copy of the "Earth's Best Employer Discussion" study seen by Insider. And 7.5% of Amazon tech employees said ideas related to social impact were the one thing Amazon could do better to be EBE. "We want to lead with an innovative and inspiring approach to being Earth's Best Employer," the document said.

☆ Amazon’s Security Chief Keeps Focus on Recruiting and Retaining Talent
▼ + stars: | 2022-12-12 | by ( Belle Lin | ) www.wsj.com time to read: +5 min

The cybersecurity talent gap grew by 26.2% over the past year to around 3.4 million unfilled jobs worldwide, according to professional group (ISC)2. Amazon recently announced a companywide hiring pause and expects to lay off up to 10,000 workers, but Mr. Schmidt said he plans to boost Amazon’s security team. He oversees information security, personnel security and physical security, and was previously chief information security officer of Amazon’s cloud unit Amazon Web Services. Amazon’s customer-service department serves as a “great feeder” for cybersecurity talent, Mr. Schmidt said, because those individuals have an existing focus on solving customer needs. He declined to name the size of Amazon’s security team, but estimated 25% of its staff are internal hires it has trained.

☆ Bahamas attorneys file emergency motion in FTX case for access to databases with client information
▼ + stars: | 2022-12-09 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Attorneys in the Bahamas filed an emergency motion on Friday asking a Delaware bankruptcy judge to compel U.S. leaders of failed crypto firm FTX to give them access to databases as part of the proceedings. The emergency motion claims that despite "many attempts to obtain access," FTX employees and counsel have stymied Bahamian regulators in their effort to get critical financial information located in Amazon Web Services and Google Cloud Portal databases. They're seeking data on FTX international customers that is stored on AWS servers, including "wallet addresses, customer balances, deposit and withdrawal records, trades, and accounting data." FTX filed for bankruptcy protection last month after a liquidity crunch at the crypto exchange, which was intermingling assets with sister hedge fund Alameda Research. FTX founder Sam Bankman-Fried, who had an estimated net worth of $16 billion before the collapse, will appear before U.S. lawmakers next week.

☆ Compass CEO Robert Reffkin told his leadership team to step up managing out low-performing employees, as the company racks up losses and is forced to cut costs
▼ + stars: | 2022-12-09 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +5 min

Compass CEO Robert Reffkin sent an email to his leadership team on "managing out poor performers." Compass employees were disheartened. "It's also your responsibility to manage out employees who can't, or aren't, performing at that level," Reffkin wrote in the Sunday afternoon message. The full text of the memo was shared with Insider, and a Compass spokesman confirmed Reffkin sent the email. In June, Compass let go of about 450 corporate workers across departments.

☆ Pentagon awards multibillion-dollar cloud contract to Amazon, Google, Microsoft and Oracle
▼ + stars: | 2022-12-08 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Each of the four tech companies is guaranteed at least $100,000 under the contract, defense officials said at a press briefing Thursday. The use of multiple tech firms for the cloud services instead of just one will make the work cheaper and more resilient, the officials added. The JEDI contract was initially awarded to Microsoft in 2019, a deal potentially worth up to $10 billion over 10 years. And it formally canceled the JEDI contract last year, starting over with a new solicitation under the JWCC. “From the enterprise to the tactical edge, we are ready to deliver industry-leading cloud services to enable the DoD to achieve its critical mission.”

☆ Amazon down for thousands of users - Downdetector.com
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

Dec 7 (Reuters) - Amazon.com Inc (AMZN.O) was down for thousands of users on Wednesday, according to outage tracking website Downdetector.com. The outage may be affecting a larger number of users. Users also reported outage at Amazon's cloud services unit Amazon Web Services but the reports were fewer than 300, according to Downdetector. Amazon did not immediately respond to a Reuters request for comment. Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Pentagon awards $9 bln cloud contracts each to Google, Amazon, Oracle and Microsoft
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - The Pentagon on Wednesday awarded cloud computing contracts worth $9 billion each to Alphabet Inc's Google (GOOGL.O), Amazon Web Services Inc (AMZN.O), Microsoft Corp (MSFT.O) and Oracle Corp (ORCL.N). The contracts which run until 2028, will provide the Department of Defense with enterprise-wide, globally available cloud services across all security domains and classification levels. The move comes months after the Pentagon had delayed its decision to award an enterprise-wide Joint Warfighting Cloud Capability (JWCC) contract earlier this year. The deal puts the military more in line with private-sector companies, many of whom split up their cloud computing work among multiple vendors to avoid being locked in to any specific one. Reporting by Nathan Gomes in Bengaluru; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Google, Oracle, Amazon, and Microsoft awarded $9 billion Pentagon cloud deals
▼ + stars: | 2022-12-07 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

The Pentagon said Wednesday that Amazon , Google , Microsoft and Oracle each received a cloud-computing contract that can reach as high as $9 billion each through 2028. Originally, the Pentagon had awarded the Joint Enterprise Defense Infrastructure, or JEDI, to Microsoft in 2019. A legal battle ensued as Amazon, the top player in the cloud infrastructure market, challenged the Pentagon's decision. Last year the Pentagon changed its approach, asking for bids from Amazon, Google, Microsoft and Oracle to address cloud needs. Oracle generated $900 million in cloud infrastructure revenue in the quarter that ended Aug. 31, a small fraction of the $20.5 billion total for Amazon's cloud subsidiary, Amazon Web Services, in the third quarter.

☆ Lensa AI's owner says the company's face-changing tech can be tricked into generating NSFW images — but some users are saying it happened to them without even trying
▼ + stars: | 2022-12-07 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The Lensa app creates face-changing effects using machine learning and photos uploaded by users. Some users have received images of themselves portrayed in the nude thanks to AI-generated edits. The company says Lensa can be tricked into making nudes but some users say they didn't upload NSFW images. "Lensa users: Did you receive a highly sexualized image in your avatar package?" We also abstain from using such images in our promotional materials," Usoltsev told TechCrunch.

☆ Bank of America sees AI transforming the internet over the next five years—top stocks to ride trend
▼ + stars: | 2022-12-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Artificial intelligence will be a catalyst for big tech stocks in the next five years, according to Bank of America. However, artificial intelligence is the "backbone" of the internet and will be increasingly tied to the stock performance of big tech companies, Bank of America analyst Justin Post said. Meta also uses AI to predict what content will matter to users in their news feeds, as well as to determine suggested content in its video component, Reels. Alphabet Artificial intelligence has become Alphabet's focus across its investments, acquisitions and internal spending, Post said. Amazon The e-commerce giant uses artificial intelligence and machine learning to power Alexa, Go Store and its recommendation engine.

☆ Amazon Web Services revenue growth will slow down more in 2023, says Satori Fund's Niles
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon Web Services revenue growth will slow down more in 2023, says Satori Fund's NilesDan Niles, Satori Fund founder, joins 'TechCheck' to discuss if things could get uglier in the technology sector, if AWS' growth rate could fall to the high teens and more.

☆ Amazon's cloud unit faces cost-sensitive customers as economic fears mount
▼ + stars: | 2022-12-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Peter Kern, CEO of online travel company Expedia Group , sees the cloud as an area where his company can reduce its fixed costs. Amazon leads the market in cloud computing, with an estimated 39% share. Selipsky said that moving IT jobs to the cloud could help budget-strapped organizations save money, citing customers Agco and Carrier Global . It offers Graviton computing instances based on energy-efficient Arm-based chips, a less expensive alternative to instances using standard AMD and Intel processors. He said AT&T 's DirecTV unit was able to eliminate 20% of computing costs by adopting current-generation Graviton chips.

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Tesla, DoorDash, Disney, Zillow & more
▼ + stars: | 2022-12-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Piper Sandler reiterates Amazon as outperform Piper said it's "more positive on the out-year opportunity" after attending the most recent Amazon Web Services conference in Las Vegas. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by shares of Apple and that it sees no evidence of demand destruction. Morgan Stanley reiterates Hostess as overweight Morgan Stanley said after a meeting with Hostess management that it sees multiple growth drivers for the maker of Twinkies. Morgan Stanley reiterates Rocket Lab as overweight Morgan Stanley said investors should buy the dip in shares of the space satellite company. Morgan Stanley reiterates FedEx as equal weight Morgan Stanley said it's staying cautious and has low visibility heading into FedEx earnings later this month.

☆ Tech layoffs send visa holders on frantic search for employment to avoid deportation
▼ + stars: | 2022-12-02 | by ( Annie Palmer | ) www.cnbc.com time to read: +6 min

Workers on temporary visas often have 60 to 90 days to find a new gig so they can avoid being deported. More than 50,000 tech workers were let go from their jobs in November, according to data collected by the website Layoffs.fyi. A search for "layoffs H1B" on LinkedIn surfaces a stream of posts from workers who recently lost their jobs and are expressing concern about the 60-day unemployment window. An engineer who was recently laid off by gene-sequencing technology company Illumina said he hoped his employer would sponsor his transfer to an H-1B visa. WATCH: Tech layoffs double from October to November

☆ Amazon's cloud unit wants to widen appeal of cashier-less tech
▼ + stars: | 2022-12-01 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +2 min

LAS VEGAS, Dec 1 (Reuters) - Amazon.com Inc (AMZN.O) hopes to interest a wider range of industries in the technology it developed for cashier-less checkout at brick-and-mortar shops, a vice president said. Since 2020, it has sold these systems to food and retail markets in airports, professional and university stadiums, and a convention center. In India, an area of growth for Amazon, it has bought another cashier-less company called Watasale, he said. TechCrunch in September reported Watasale's founders had moved to the online retailer, but Amazon had no comment on the acquisition at the time. Reporting by Jeffrey Dastin in Las Vegas; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Retailers turn to robots in cost inflation fight
▼ + stars: | 2022-12-01 | by ( James Davey | ) www.reuters.com time to read: +6 min

He estimates the retail industry is 40% automated, but sees that jumping to 60-65% over the next three to four years. The march of the robots can be seen in fashion stores and food shops globally as an industry that employs millions grapples with the cost of rising wages, energy and raw goods. While processes at online retailers are largely automated, vast parts of a traditional retailer's operations are still carried out manually, according to consultants at McKinsey. Looking at the fashion industry, McKinsey expects fashion companies to double investment in technology from 1.6% to 1.8% of their revenue in 2021 to between 3.0% and 3.5% by 2030. "Retailers are saying 'robots are the future,'" Michel Spruijt, Brain Corp's chief revenue officer, told Reuters, adding that the shift could "free up workers from tedious" tasks.

☆ Why Amazon CEO Andy Jassy didn't immediately say 'yes' when Jeff Bezos offered him the role
▼ + stars: | 2022-12-01 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

But when Amazon founder Jeff Bezos asked Andy Jassy to take over as CEO last year, Jassy didn't immediately say "yes." Before becoming Amazon's CEO, Jassy ran the company's Amazon Web Services division, and had no plans to change his career path. "I've been at Amazon for 25 years," Jassy, 54, said at The New York Times' 2022 DealBook Summit. So, instead of immediately taking the lauded position, Jassy asked Bezos if he could go home and talk about it with his wife. He and Bezos worked closely together to launch Amazon Web Services in 2006, which Jassy went on to lead for the next 15 years.

[1/2] A logo for Amazon Web Services (AWS) is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. REUTERS/Chris HelgrenNov 30 (Reuters) - French IT consulting firm Atos (ATOS.PA) is making Amazon.com's (AMZN.O) cloud services division its preferred partner for migrating its clients' workloads to the cloud, it said on Wednesday. The enhanced partnership will allow Amazon Web Services (AWS), the world's number one cloud computing services provider, access to more than 800 of Atos' infrastructures services customers globally and lead to the training of 20,000 employees on AWS' technology at Atos. The AWS-Atos partnership will allow Atos' customers with large infrastructure outsourcing contracts to quicken their workload migrations to the cloud, Atos said in its statement. Atos said it would consult with over 800 customers to offer a new hybrid cloud service with the option to move selected workloads to AWS.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Amazon, Blackstone, Carvana, Netflix & more
▼ + stars: | 2022-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley adds Blackstone to the financials' finest list Morgan Stanley added the investment bank and private equity firm to its top pick list and said it sees a compelling entry point. Bank of America downgrades Carvana to neutral from buy Bank of America said it has "liquidity and cash burn concerns." "We are reinstating coverage of XPO with a Neutral rating following a period of restriction. Bank of America reiterates Amazon as buy Bank of America attended Amazon's AWS Re:Invent conference and said Amazon Web Services ecosystem "remains strong." Morgan Stanley reiterates Lowe's as overweight Morgan Stanley said the home improvement retailer is in a "strong fundamental position."

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☆ Jim Cramer's top 10 to watch Wednesday: Fed's Powell, Alzheimer's data
▼ + stars: | 2022-11-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club holding Salesforce (CRM) is set to report fiscal third-quarter 2023 financial results after the closing bell Wednesday. Atlantic Equities says there's "no easy fix" at Club holding Disney (DIS) for returning CEO Bob Iger. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ AWS CEO Adam Selipsky on impact of slowing economy, cloud consumption
▼ + stars: | 2022-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAWS CEO Adam Selipsky on impact of slowing economy, cloud consumptionAmazon Web Services' annual cloud conference is back in full swing in Las Vegas for the first time since the onset of the pandemic and CNBC TechCheck's Jon Fortt sits down exclusively with AWS CEO Adam Selipsky. He says that although AWS is in a temporary hiring freeze, they are absorbing spikes in the cost of energy and tech labor, making the case that its scale and experience in cloud technologies make it a port in the storm of a volatile economy.

☆ Wall Street's most important consultant might be its cloud provider
▼ + stars: | 2022-11-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Bianca Chan explored this trend with a piece on how cloud providers like AWS, Microsoft Azure, and Google Cloud are reimagining themselves as business consultants. Many of the biggest cloud providers have stood up teams focused on interfacing with the C-suite to advise them on how a move to the cloud can be an opportunity to overhaul things. It's not hard to see how this could end up being big business for the cloud providers. Cloud providers still have a long way to go to be a real threat to consultants, but there is potential there. Click here to read more about how cloud providers are becoming the new-age consultants for Wall Street.

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