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Valued at $15 billion by venture capitalists, it appears that Snapchat has a long way to go before it is even remotely profitable.

According to a new report, Snapchat lost $128 million between January and November 2014 while only bringing in $3 million in revenue. That being said, the company only started ads last October, so the revenue could be much higher this year but there is evidence to the contrary.

Snapchat's new killer feature, 'Discover,' which allows media properties to offer micro-broadcasts saw a huge surge in popularity when it launched, but traffic (and ad revenue) have both fallen off a cliff since then, says the report. Snapchat was allegedly asking for $750,000 per day from advertisers but has since dropped their rates to just $20 per 1000 views.

Only in a tech bubble could a company with no chance of ever being profitable be valued at $15 billion.

Microsoft is clearly not being subtle in codenaming their upcoming Surface Phone.

According to sources, the device is code named 'Project Juggernaut Alpha.' Of course, a juggernaut is a large, overpowering and unstoppable force which Microsoft certainly hopes its flagship device will be.

Now, we have a look at the alleged specs, which are (true to the name) very powerful:

Display: 1440×2560 16:9 AMOLED 5.5″ ClearBlack with Gorilla Glass 4
Processor: Intel Atom x3 (SoFIA) 64-bit
Camera: Back: 21MP PureView Zeiss 6-lens, and the selfie camera will be a 8MP Zeiss Wide-Angle
RAM: up to 4GB RAM (base model will have 3GB and top model will have 4GB)
Operating System: Windows 10 Mobile
Storage: Internal storage of 64GB or 128GB expandable to 256GB with microSD.
Surface Pen
USB Type-C
Wireless Charging
Aluminium & Magnesium unibody

Now, whether the smartphone will remain a rumor or actually launch remains to be seen but Microsoft will be aiming high if it does.

Android fans rejoiced last week when Bethesda announced that Fallout Shelter was finally headed to the platform.

The game, first announced at E3, should excite fans of the classic Sims games as it takes features of Sims, Sim City and Sim Tower.

In Fallout Shelter - a dystopian future - you create a "vault" underground to survive, basically building homes and trying to find a mate while protecting your vault from thieves.

Check it out on Google Play here.

First teased in 2011, music streaming service Baboom has finally launched.

The service is inviting consumers to sign up and begin creating collections either through the Web app or via its Android and iOS mobile apps.

Despite offering features that are similar to Spotify and others, Baboom is fundamentally different. Its entire platform is "direct-to-fan." Musicians who use the service will receive 90 percent of the revenue from their music and gain full transparency of the platform's 'Fair Trade Streaming' initiative, which promises to make sure fees are distributed properly to artists.

As with most streaming services, you can register as a standard (free) user or a premium ($9.99 per month) user. Free users get unlimited streaming, with ads, and the option to create collections of up to 100 songs. Premium users get unlimited collections, no ads, mobile streaming and "exclusive experiences," although it is unclear what that may entail.

Kim Dotcom, of MEGA infamy, first announced the service in 2011, and then named it and teased it again in 2013. Last year, Dotcom "stepped down" from the service as he claimed the music industry's hatred of him was delaying the service from launching.

After a week of teasing, Google has confirmed that its upcoming Android M mobile operating system will take the name Marshmallow and will take version number 6.0.

The early confirmation came when Google added the giant Android statue to its building, with the statue holding a giant marshmallow.

Later in the day, the company released Android 6.0 Preview 3 images to load to your Nexus devices, confirming the operating system would not be version 5.2 as previously expected.

If you'd like the update, you can get it here: Android Devs Blog

According to a new report, the use of ad blockers will cost the ad industry $21.8 billion this year, and could potentially spell the end of free content in the future.

The new report comes via PageFair and Adobe, which says that 200 million monthly Internet users are now using ad blockers via their browsers, up 41 percent year-over-year.

Over 77 million users in Europe use ad blockers, followed by 45 million in the U.S. Interestingly, Greece had the highest percentage of users of ad blocking services, at 36.7 percent of all Internet users.

"It is tragic that ad block users are inadvertently inflicting multi-billion dollar losses on the very websites they most enjoy. With ad blocking going mobile, there's an eminent threat that the business model that has supported the open web for two decades is going to collapse," says PageFair in the report.

The figure is expected to jump even higher later this year after Apple introduces ad blocking software for its Safari browser.

Earlier this year, the backers of the critical hit Dallas Buyers Club won the right to obtain the names and addresses of 4700 John/Jane Does that they believe had downloaded and shared unauthorized copies of the film.

The individuals were all users of Australian ISPs iiNet, Dodo, Internode, Amnet Broadband, Adam Internet and Wideband Networks.

Justice Nye Perram has denied the claim from Dallas Buyers Club LLC (DBC LLC), and will not lift the temporary stay without the company changing its demands. DBC LLC is trying to charge thousands of dollars in licensing fees to everyone who allegedly shared the film, but the Judge said that demand is "so surreal as not to be taken seriously. If such a claim were made in a proceeding for copyright infringement in this Court I am satisfied that it would be dismissed summarily without trial ... as a case having no reasonable prospects of success."

Smartly, Justice Jerram also said that pirates should only be required to pay back the "equivalent cost of renting the film on iTunes and the costs DBC incurred in finding the name" of each pirate.

In under three weeks, Microsoft's new Windows 10 operating system has quickly taken significant market share.

The OS has been well received, and is free for legitimate Windows 7 and Windows 8.1 owners.

According to StatCounter, Windows 10 has reached 53 million installs, good for 4.95 percent of a massive market.

By comparison, Windows 8.1 had 13.09 percent market share before Windows 10 was released, following nearly two years on the market. OS X 10.10 only had 4.74 percent share, meaning in three weeks Windows 10 has surpassed Apple's year-old OS.

Windows 7 remains with the lion share at 60.75 percent, but that number is expected to continue falling.

CurrentC, the mobile payments app backed by major retailers, may be delayed until next year.

The app is backed by the consortium known as MCX, a group that includes 7-Eleven, Alon Brands, Best Buy, CVS Health, Darden Restaurants; HMSHost, Hy-Vee, Lowe's, Michaels, Publix, Sears Holdings, Shell Oil Products US, Sunoco, Target Corporation and Walmart.

MCX CEO Brian Mooney says an initial pilot will launch in Columbus, Ohio next month, but the group will not rush the global rollout. "This is a long game," Mooney said. "Certainly going faster is always better -- that's not necessarily a debatable point. But we're going to do it right."

CurrentC is very different than apps like Apple Pay (and soon, Samsung Pay and Android Pay) as the app does not allow you to link your credit/debit cards. You can either hook up your checking account, use a store gift card, or attach the retailer's private-label payment cards.

Unfortunately for the group, CurrentC might already be dead on arrival. Two key members, Best Buy and Rite Aid, will begin accepting Apple Pay later this year after an exclusivity period ends with CurrentC.

Source:
Re/code

Dropbox has announced this week that it has enabled USB (U2F) keys as part of their two-factor authentication security.

The keys, which are actual physical pieces of hardware, can be placed on your keychain and can be used as the second piece of a two-factor login, rather than needing to receive a code via text, email or authentication app.

Google made a similar announcement last year, allowing for Gmail login with the keys.

U2F keys are the most secure form of two factor authentication, since there is no code to be stolen or intercepted by attackers. That being said, the keys could still be stolen the old fashioned way: off your person.

Microsoft has announced that its Windows 10 IoT (Internet of Things) Core operating system is now available for Raspberry Pi.

The OS, built specifically for embedded devices, will rival Linux-based portable operating systems such as Raspbian, Arch Linux and OpenELEC.

Microsoft's latest strips the UI from Windows 10 and allows you to program C++, C#, JS, VB, Python and node.js.

The Electronic Sports League has implemented a drug testing policy, killing off hard drugs and "performance enhancing" drugs for the e-sports players.

ESL has worked with the World Anti-Doping Agency to create the policy, which will include saliva tests.

"Tests will be performed at our discretion at any time during tournament days, and will take place in a designated testing area," the league said on Reddit. "Naturally, player's privacy comes first."

Notably added to the list is Adderall, the attention deficit disorder drug that can enhance reaction times and focus significantly, especially if used by someone who does not have it prescribed. Of course, valid prescriptions are still allowed but voluntary notification by the players must be made to the ESL including a physician's note. Marijuana is also banned on competition days, but is fine for recreation (if it is legal in your state or country to do so).

Each penalty for breaking the rules will be made on a per-case basis and can "range from getting prize money / tournament points deducted, to disqualification and up to a two year ban from ESL events."

As previously announced, struggling smartphone maker HTC has announced more layoffs as the company tries to reduce costs.

The company will let go 15 percent of its global workforce (the company has over 16,000 employees).

Says new CEO Cher Wang: HTC is an inspirational company driven by innovative people, with a unique blend of expertise in hardware and software integration,
advanced technology and world-class design. Now, as we diversify beyond smartphones, we need a flexible and dynamic organization to ensure we can take advantage of all of the exciting opportunities in the connected lifestyle space. This strategic realignment of our business will ensure that each product group has the right focus, the right resources and the right expertise."

HTC said last month that it will be focusing on less smartphones and also in "profitable key areas of premium smartphones, virtual reality and connected lifestyle products."

The American Federation of Musicians (AFM) has sued Warner Bros, Universal Music Group, Sony Music Entertainment, Atlantic Records and Hollywood Records over alleged non-payments of streaming royalties.

According to the AFM, the majors signed a collective bargaining agreement in 1994 which was then amended later in which they committed to AFM members 0.5 percent of "all receipts from digital statutory and non-statutory music licenses – including audio streams, 'non-permanent downloads' and ringback tones – both in North America and abroad."

The suit alleges that they have discovered the majors underpaid or did not pay promised contributions from streaming outside the U.S., "non-permanent" downloads outside the U.S. and sales of ringback tones everywhere. The AFM used independent auditors. "Although these audits have not yet been completed, it appears that each Defendant record company has not reported on and paid to the Fund contractually required contributions based on revenues derived by the record companies from foreign audio streams," reads the suit. "The Pension Fund has demanded that each Defendant record company report on and pay these contractually required contributions to the Fund. Each of the Defendant record companies has wrongly refused to report or make payments to the Fund with respect to its revenues from foreign audio streams."

According to a new report, Comcast is prepared to launch a new video platform that will launch with content from big-name partners.

"Watchable," as the service is called, could launch as early as September.

Comcast will partner with Vox, Buzzfeed, AwesomenessTV, Refinery29, The Onion, Mic, Vice and NBC Sports among other lifestyle, comedy and news sites as it tries to take on YouTube, the undisputed leader in the industry.

The report says the publishers of the content will commit to Comcast for a few years, and will upload all their original video to Watchable. The content will then be bundled and curated for Comcast's own Xfinity X1 box owners. Eventually, Comcast plans to switch all their subscribers to X1 boxes, meaning 22 million TV viewers will be able to stream Watchable.

Reportedly, Watchable partners will not be paid any licensing revenue but will get a large piece of advertising revenue.