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Apple Says iPhones Addiction Profitable

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Apple Inc investors on Tuesday shrugged off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits.


Hedge fund JANA Partners LLC and the California State Teachers’ Retirement System (CalSTRS) pension fund said on Saturday that iPhone overuse could be hurting children’s developing brains.


Some investors said the habit-forming nature of gadgets and social media are one reason why companies like Apple, Google parent Alphabet Inc and Facebook Inc added 630 billion dollars to their market value in 2017.


Apple shareholder Ross Gerber, chief executive of Gerber Kawasaki Wealth and Investment Management, said “We invest in things that are addictive.”

He also owns stock in coffee retailer Starbucks Corp, casino operator MGM Resorts International and alcohol maker Constellation Brands Inc.


“Addictive things are very profitable,” Gerber said.


Still, the investment community is increasingly holding companies to higher social standards, and there is some concern that market-leading tech companies could draw attention from regulators much like alcohol, tobacco and gambling companies have in the past.


Alphabet and Facebook could not immediately be reached for comment on Monday. Facebook has said social media can be beneficial if used appropriately.


In a statement to Reuters, Apple said it has offered a range of controls on iPhones since 2008 that allow parents to restrict content, including apps, movies, websites, songs and books, as well as cellular data, password settings and other features.


“Effectively anything a child could download or access online can be easily blocked or restricted by a parent,” Apple said in the statement.


Apple shares fell marginally on Monday. CalSTRS holds 1.9 billion dollars in Apple stock, a sliver of the company’s nearly 900 billion dollars market value, while JANA declined to disclose the size of its smaller stake.


Peter Jones, vice president of research for Ferguson Wellman Capital Management, which has about 350,000 Apple shares,said “Before Apple speaks, I think it’s too early to change the narrative” for investors.


Some said social media companies, not hardware makers, are more deserving of any addiction-related scrutiny.


Jordan Waldrep, who invests in alcohol, tobacco and gambling stocks as manager of the USA Mutuals Vice Fund, said blaming Apple for its customers’ addiction was analogous to blaming makers of cigarette packs instead of tobacco companies.


“The social media, the cigarettes, are the addictive product,” he said. Waldrep’s Vice fund does not own Apple, but Waldrep said he would consider including social media companies.


Kim Forrest, senior portfolio manager and vice president at Fort Pitt Capital Group, agreed that companies like Facebook, Twitter Inc and Snap Inc might be more at risk than Apple if investors and regulators push back on how much time people spend on mobile devices.


“Apple is just the delivery device,” said Forrest, who said Fort Pitt has limited Apple holdings.


“It’s only compelling with software. Software is the dopamine releaser that keeps you coming back.”


Twitter declined to comment and Snap could not immediately be reached.


The letter from JANA and CalSTRS recommends Apple set up a committee of child-development experts and make more new tools available to parents.


In its statement, Apple did not directly respond to the investors’ demands but said changes are in store for its parental controls.


It did not provide details.


Apple said: “We are constantly looking for ways to make our experiences better.


“We have new features and enhancements planned for the future, to add functionality and make these tools even more robust.”


The addiction issue gained notoriety when former Disney child star Selena Gomez said she canceled a 2016 world tour to go to therapy for depression and low self-esteem, feelings she linked to a social media addiction.


Fears about smartphone addiction have already kicked off regulatory backlash.


In December, the French education minister said mobile phones would be banned in schools, and draft legislation in France would require children under 16 to seek parental approval to open a Facebook account.


Even tech insiders are among the vocal critics of social media and its addictive potential.


“Apple Watches, Google Phones, Facebook, Twitter – they’ve gotten so good at getting us to go for another click, another dopamine hit,” said Tony Fadell, a former Apple executive, on Twitter.


John Streur, chief executive of Calvert Research and Management, an Apple shareholder that focuses on social responsibility, said it is plausible that tech devices may some day be understood to hold risks we do not currently understand well.


That would hurt investors if evidence later emerged that companies intentionally built features that create dependency and had evidence that doing so was unsafe.


For the time being, John Carey, a portfolio manager at Amundi Pioneer Asset Management in Boston, said concerns over the human impacts from being glued to screens are not likely to cut into profits.


The company holds Apple stock, but the funds Carey manages do not.


He said:“I doubt there will be any impact on the use of smartphones.


“We’re already addicted to them.”


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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KADIRS Seals 7 Telecom Masts over Unpaid N5.8Bn Taxes

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Kaduna State Internal Revenue Service (KADIRS) has sealed seven telecommunication masts within the State’s metropolis over N5.8 billion unpaid taxes on Thursday.

KADIRS Seals 7 Telecom Masts over Unpaid N5.8Bn Taxes

The telecommunication masts comprised of MTN servers at Tafawa Balewa road, Surami road, Etsu road while GLOBACOM server at Shehu  Laminu road, and a general mast (ATC) for various of the communication  servers at Unguwan Rimi, Nagwamatse road.

KADIRS also sealed the popular Mudassir and Brothers (Mudatex) textile materials outlet at Ahmadu Bello Way, over an outstanding N5.2 million for sign post advertisement.

The agency also sealed Al-Babello Trading Company Ltd at the famous Panteka market, reputed for selling roofing sheets, iron rods and other building materials over undisclosed unpaid sign posts advertisements.

Speaking to newsmen at the sideline of the exercise, Aysha Ahmad, the KADIRS Board’s Secretary and Legal Adviser, said the exercise was aimed at enforcing compliance by companies that have failed to discharge their civic responsibilities of tax payment.

“As usual, we are left with no option than the powers vested on us by the law to enforce compliance. This is why we are restraining on the premises,”she said.

Ahmad said that  KADIRS derived no joy in sealing properties or business arenas of tax defaulters, stressing that the payment of taxes was a civic responsibility of every citizen.

She equally said that they encouraged voluntary compliance, which was why they exhaust all possible means before enforcement being the final step.

Speaking further, the Board Secretary said the enforcement was part of their process to achieve the N120 billion revenue target set by the Kaduna State Government.

She, therefore, called on the people of the State to ensure voluntary tax compliance, describing it as a civic responsibility.

Also, Shamsuddeen Lere, the Legal Adviser of the Kaduna State Urban Planning Development Authority (KASUPDA), said both agencies had served the defaulters with notices, which they declined compliance.

“The monies belong to the State Government, we are coming after all the defaulters,” he vowed.

 

 

 

 


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Experts @ WATISE 2024 Explore how Emerging Trends will Shape Telecoms Infrastructure, Proffers Solutions on Challenges

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Telecommunications experts across West Africa have exposed trending innovations relying on telecoms infrastructure harping on the strategies that are crucial for the sustainability of telecommunications infrastructure to fast-track the regions digital economy.

Speaking at the second edition of the West Africa Telecoms Infrastructure Summit and Exhibtion (WATISE), with the theme: ‘Shaping the future of the telecoms infrastructure industry: Trends and Insights for a Digital Economy’ and organized by TechnologyMirror, an online telecoms news and information platform, held in Lagos, Southwest Nigeria, the experts x-ray critical issues that relates the survival of the telecoms industry using the Nigerian market as a reference point.

Leading the conversation, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr Aminu Maida, in his keynote address which was on the theme of WATISE 2.0, noted that the journey towards a digital economy has a future that is paved with immense possibilities and profound challenges noting that “how we navigate this path will determine the role Nigeria plays in the global digital landscape.”

Maida who was represented by the Head of Next Generation Technology and Standard at the NCC, Engr Victor Adoga, described telecommunications infrastructure as the backbone of the digital economy, facilitating seamless connectivity and supporting a range of services from basic voice calls to high-speed internet and cloud computing.

He stated that the rapid growth of the digital economy demands robust, scalable, and secure telecommunications infrastructure disclosing that there are several key trends that are poised to shape the future of telecom infrastructure.

According to Maida, the rollout of 5G networks is a transformative trend in telecoms infrastructure saying that 5G promises significantly higher speeds, lower latency, and greater capacity, facilitating new applications such as IoT (Internet of Things), autonomous vehicles, smart cities and advanced augmented reality.

He listed other emerging trends affecting the deployment of telecoms infrastructure across the region as Internet of Things, Fiber Optic Expansion, Data Localisation and Security, Regulatory Frameworks, Cybersecurity and Energy Efficiency and Sustainability.

He however suggested that the telecoms operators must take consider strategic actions to stay in business saying that collaboration which is partnerships between government, industry, and academia can drive innovation and development.

He added that Innovative Financing Models, Investment in Human Capital, Focus on Sustainability, Integration with AI and Machine Learning and Developing Smart Infrastructure noting also as crucial investing in rural telecom infrastructure and making digital literacy a key component of our educational programs.

Still speaking on the theme of WATISE 2.0. Chief Executive Officer of WTES Projects Limited, Mr Chidi Ajuzie who joined virtually from Ethiopia said there is deluge of connectivity from submarine cable landings linking Nigeria to Europe and rest of the world.

According to him, while there is no centrally managed national transmission backbone, licensed Operators have, over the years, built transmission networks to meet their own needs, often duplicated on most routes.

He disclosed that the Universal Service Provision Fund (USPF) has carried out a detailed study to characterize basic telephony and ICT gaps in the country, identifying 97 clusters with varying population densities and a cumulative population of about 27.91 million that suffer from significant connectivity services gaps. Digital broadband gap is even more, estimated at over 100 million population.

Ajuzie stated that to reap the benefits of broadband, there is need to close the clear gaps existing in the metro middle- and last-mile segments of the connectivity value chain. New Connectivity will be required to bridge the gaps and meet the National Broadband targets.

In fireside chat on ‘Enhancing Rural Connectivity: Strategies for Expanding Telecom Infrastructure’, Tinuade Oguntuyi, Head Network and Solutions, at Information and Communications Services Limited (ICSL) said that that rural areas need better network services for proper communication and development.

Oguntuyi, who anchored the fireside chat urged the government to support network service providers to reach more rural places as they are also full of great potentials for the growth of the nation.

Also speaking, Ahmad Tijani, a local content ICT advocate commended Federal Government projects to connect the rural dwellers and harped on the need to carry the local government leaders along.

Tijani who represented Dr. Adebunmi Adeola Akinbo, National Secretary ICTLOCA, cited the challenge of data gathering which can be sorted by the local government, calling on the grassroots to add value to the nation growth.

In his welcome address, the Convener of WATISE, Isaiah Erhiawarien said that the second edition was a step towards ensuring a reliable telecoms infrastructure for the region, and thanked the Nigerian Communications Commission, Open Access Data Nigeria Limited, Digital Realty, ICSL, HyperSpace Limited and OneData Limited for believing in the dream of the organisers.


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US Newspapers Sue OpenAI, Microsoft Over AI Chatbots

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Eight US newspapers sued OpenAI and Microsoft in a New York federal court Tuesday for violating their copyright to train the technology behind the ChatGPT and Copilot chatbots.

The newspapers, which include The New York Daily News and The Chicago Tribune, are owned by Alden Global Capital, a Florida-based hedge fund that created the second-largest US newspaper group behind USA Today owner Gannett when it bought the Tribune publishing chain in 2021.

“This lawsuit arises from defendants purloining millions of the publishers’ copyrighted articles without permission and without payment to fuel the commercialization of their generative artificial intelligence products, including ChatGPT and (Microsoft’s) Copilot,” according to the filing.

“As this lawsuit will demonstrate, defendants must both obtain the publishers’ consent to use their content and pay fair value for such use,” the filing said.

OpenAI and its Microsoft backer were also accused of offering up verbatim excerpts of full articles as well as attributing misleading or inaccurate reporting to the publications in certain requests.

Other newspapers involved in the suit were The Orlando Sentinel, The Sun Sentinel of Florida, The San Jose Mercury News, The Denver Post, The Orange County Register and The St. Paul Pioneer Press.

In a statement, OpenAI did not refer to the accusations specifically but said “we take great care in our products and design process to support news organizations.”

OpenAI pointed to the “constructive partnerships and conversations with many news organizations around the world to explore opportunities, discuss any concerns, and provide solutions.”

This referred to the news outlets that have entered partnerships with the Microsoft-backed startup instead of going to court.

They include The Associated Press, Financial Times, Germany’s Axel Springer, French daily Le Monde and Spanish conglomerate Prisa Media.

The suit on Tuesday closely resembles a case filed by The New York Times in December, in which OpenAI is also accused of stealing content to train its powerful AI.

In that case, OpenAI strongly pushed back, arguing the use of publicly available data including news articles for general training purposes is fair use.

OpenAI also accused the Times of violating ChatGPT’s user guidelines to generate the content that suited its case.

Microsoft declined to comment on the suit.

AFP


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