It’s raining bitcoin, New York is suing Amazon over concerns about health standards at the tech giant’s warehouses, and Shopify continues to ride the small business wave.
It’s all the tech news that’s popular right now. Welcome to Hashtag Trending! It’s Thursday, February 18, and I’m your host Bannet Braich.
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The bitcoin boom continues as it jumps past $50,000, reaching another all-time high according to Bloomberg. Bitcoin is up 68 per cent this year thanks to a number of factors, including Tesla investing billions and other big players like Mastercard, Paypal, and BNY Mellon joining the fun. Uber is reportedly considering investing in the digital currency as well. While some experts say the Bitcoin buzz is justified, others have chimed in on LinkedIn, saying it’s “emblematic of speculative froth in the financial market.” Where do you stand? Let us know in the show comments. [LinkedIn]
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New York is suing Amazon, alleging ‘flagrant disregard’ of health standards at the tech giant’s warehouses. The New York Attorney General accused Amazon of “repeatedly and persistently” failing to provide adequate protection to its warehouse workers in the state. The Washington Post reports that the suit alleges Amazon disregarded crucial workplace safety measures such as social distancing requirements. It also didn’t provide employees time to properly maintain sanitary workstations. Amazon has faced a lot of criticism for safety during the pandemic as people have increasingly shopped online. During the earlier days of the pandemic, it was reported that nearly 20,000 employees tested positive but that number has not been updated.
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More people are opening online stores and selling goods and services online to make money as the pandemic continues to disrupt in-person shopping and wipe out jobs. The effects have sent a wave of new business to Shopify, but the Wall Street Journal is reporting that the business model carries risks, and analysts suggest the e-commerce giant will see a significant rebalance once the pandemic wanes. Other experts point to risks like the longevity concerns surrounding the startups suddenly selling through the platform. Shopify has notched a 72 per cent increase in profit during the last nine months of 2020.
That’s all the tech news that’s trending right now. Hashtag Trending is a part of the ITWC Podcast network. Add us to your Alexa Flash Briefing or your Google Home daily briefing. Make sure to sign up for our Daily IT Wire Newsletter to get all the news that matters directly in your mailbox every day. I’m Baneet Braich, thanks for listening!