Requiring Businesses To Accept Cash Payment

On Episode 446 of the Waves of Tech, we are diving into a variety of technology news that matters to you! The city of San Francisco bans brick-and-mortar stores from only accepting app-based and credit card forms of payment, requiring all businesses to take cash. In an eight year court battle, Apple users are now allowed to sue the Cupertino tech giant over fees and commissions charged for app purchases. After the news of the death of Doris Day, her Wikipedia page was immediately defaced raising questions of their open source method of updating information. Uber failed to impressive many Wall Street investors with a lackluster IPO and a less than optimistic future of profitability. We are taking vacation next week so look for another episode in a few weeks!

San Francisco Says Cash Payments a Must

Joining the path of the state of New Jersey and the city of Philadelphia, San Francisco politicians are now requiring that businesses accept all forms of payment – cash included. In a growing trend of new business owners, many are not accepting cash for payment and only accepting app-based or credit cards from customers. Who knew this was a thing…

  • Many choose not to use bank accounts, smartphones, app-based payment types
  • San Francisco is attempting to level out the demographic trends that are rising
  • Victims of identity theft, students, and the homeless may only have cash on hand
  • Being innovative in payment is commendable, but equity does play a part today

Supreme Court Says iPhone Users Can Sue Apple

In 2011, a group of customers filed a class action antitrust complaint against Apple. The Supreme Court of the United States have now ruled in the customers favor opening the door for a lawsuit. The Supreme Court opinion notably does not accuse Apple of violating antitrust law; it holds that consumers have the right to sue the company for monopolistic behavior.

  • One reason – customers purchase apps directly from Apple, not app developers
  • Apple’s legal battle fell short and may cause a chain reaction to commissions and fees
  • Such fees directly relate to the setting of app prices affecting consumer options
  • A big factor is that Apple apps are not allowed to be used in other operating systems

Doris Day Passed Away, Wikipedia Page Defaced

Sadly minutes after the passing a famed and popular American actress Doris Day, her public Wikipedia page was defaced by hackers with “an extremely graphic image.” After frustrated Doris day fans took to Twitter, the page and image were temporarily removed and restored. Once again, this opens up the debate over Wikipedia’s open editing policies by anyone.

  • Anyone can edit an “unprotected page and improve articles immediately for all readers”
  • There are several guidelines for updating pages but any lack substance and weight
  • People do not need to be registered as a Wikipedia user to edit unprotected pages
  • Run off donations and foundation funds, the ability to battle such action is tough

A Not-So Impressive IPO from Uber

To say it was a tough day on the stock market is a bit of an understatement when considering Uber’s first day of public trading. The popular ride-sharing and food-delivering company opened at a less than desirable share value and dropped by 8% by the closing bell. Not all IPOs are created equal, but Uber CEO Dara Khosrowshahi remains positive and optimistic.

  • Lyft had similar experiences in March 2019 and remain below original market trading
  • Investors may be hesitant based on the fact that Uber has never turned a profit
  • These new ‘tech’ companies are floated by venture capital and debt to stay afloat
  • Uber anticipated additional operational expenses with little profit potential

Resources & Links

San Francisco Bans Credit Card/App Only Stores
Apple’s App Store Supreme Court Ruling
Doris Day Wikipedia Page Defaced
Uber’s Average IPO

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