LATEST TECH NEWS: Twitter flags yet another Trump tweet. 4 other things and a trivia you need to know today, August 24, 2020

These 5 latest stories from the tech space will keep you updated with trends today.

1. Twitter flags yet another Trump tweet

American social media company Twitter has hidden a tweet by U.S. president Donald Trump. According to Twitter, the tweet was flagged for containing “misleading claims” that could “dissuade voters” ahead of the November election. On Sunday, August 23, the US president tweeted on postal voting could lead to fraud and disaster, putting citizens at risk of contracting coronavirus. With the flag, the tweet can only be viewed behind a disclaimer stating it violated rules around “civic and election integrity”, users cannot “like”, reply to or retweet the content.

Trump tweeted: “So now the Democrats are using mail drop boxes, which are a voter-security disaster. Among other things, they make it possible for a person to vote multiple times. Also, who controls them? Are they placed in Republican or Democrat areas? They are not Covid sanitised – a big fraud.” Educating the public on the reason of the action, Twitter stated that the president’s tweet could “dissuade” citizens from participating in the election. Twitter stated: “We placed a public interest notice on this tweet for violating our civic-integrity policy for making misleading health claims that could potentially dissuade people from participation in voting.”

2. Kenyan startup myNGOVO launches pro-salary app

 

One of Kenyan fintech startup myNGOVO has launched a personal finance app that looks to empower employers, offering salary advances where employees can benefit with no interest charges. Through the myNGOVO platform, reviewers noted that, employees are able to request up to 50 per cent of their salaries in advance, with payments received into their mobile money account. According to the CEO Methuselah Marava, he noted that the board saw the financial gap and thought of alleviating the hardship that comes with debt servicing.

He said: “Income timing does not always match cash flow needs of wage workers, leading to them taking costly debt for their consumption needs. myNGOVO stemmed from me seeing how my sister struggled in paying exorbitant interest charges to loan sharks, because her employer didn’t have working capital to offer her a salary advance. On further research we realised it was a problem for many workers.” The startup, which was bootstrapped, has a real estate management firm amongst its portfolio.

Tech Trivia:

Which tech company acquisition was the biggest by dollar amount?

A. Dell’s buyout of EMC in 2015
B. Google’s buyout of Motorola in 2011
C. Microsoft’s buyout of LinkedIn in 2016
D. HP’s buyout of Compaq in 2002
Answer: See end of post.

3. YC-backed fintech Thndr secures brokerage license in Egypt

Y-Combinator backed fintech startup Thndr has announced securing its brokerage license in Egypt as it looks to launch venture. Participated in Y-combinator, Thndr, a fintech startup co-founded by former Uber Egypt general manager Ahmad Hammouda, developed an investment platform that makes it easy to invest in stocks, bonds, and funds, completely commission free. According to Thndr, its platform looks to solve Egypt and the region’s outdated and time consuming processes when it comes to opening, funding and managing investment accounts.

READ ALSO: LATEST TECH NEWS: Oracle joins bid to acquire TikTok. 4 other things and a trivia you need to know today, August 21, 2020

Recall, the startup closed its pre-seed round last December, in an investment that saw the participation of investors including Y-Combinator, 4DX Ventures, Endure Capital, The Raba Partnership, and MSA Capital. Since venturing into the money ecosystem, Thndr’s first product is a mobile-first equities trading platform in Egypt. However, the startup has just acquired the necessary licensing from the Financial Regulatory Authority (FRA), making it the first company to acquire a brokerage license in Egypt since 2008.

4. TikTok looks to launch legal action against Trump

Following social media mentions of President Donald Trump’s increasing hostility towards China, Chinese video app TikTok is reportedly set to launch legal action to challenge a ban imposed by US President Donald Trump. Recall that Trump’s executive order has prohibited transactions with TikTok’s owner ByteDance from mid-September, a development that was influenced by thoughts that the company could pass data on American users to the Chinese government.

The short video-sharing app, which has 80 million active US users, revealed that it had tried to engage with the Mr Trump’s administration for nearly a year. According to TikTok, a chat has not been possible as Trump’s administration pays “no attention to facts”. Therefore, “To ensure that the rule of law is not discarded and that our company and users are treated fairly, we have no choice but to challenge the executive order through the judicial system,” a TikTok spokesperson stated.

5. Microsoft throws weight behind Epic Games

In a legal battle with Apple, hardware and software company Microsoft has thrown its weight behind Epic Games. Apple, which had pulled popular game Fortnite from its App Store after allegations that Epic deliberately broke its rules. Recall that this led Apple to pull out Epic’s access to developer tools on its iOS and Mac. According to Microsoft, this development was capable of damaging a “critical technology” for many third-party game creators, as Epic privately runs the Unreal Engine, a tool widely used by developers from other studios to build games, virtual-reality VR experiences and special effects in major television shows and films.

Speaking on the development, Xbox head Phil Spencer tweeted: “Ensuring that Epic has access to the latest Apple technology is the right thing for game developers and gamers.” More so, Epic has objected to what it calls a “monopoly” in the App Store, specifically the 30% cut Apple demands from in-game purchases. However, the company had legal documentation and a huge marketing push prepared after it decided to circumvent the rule by signposting players to a discount available away from the app.

Tech Trivia Answer: Dell’s buyout of EMC in 2015

It may not be the most recognizable deal, but Dell’s acquisition of enterprise storage company EMC for $67 billion in cash and stock stands as the tech industry’s largest buyout. Second place goes to Microsoft’s purchase of LinkedIn for $26.2 billion in 2016.

HP’s takeover of Compaq in 2002 is virtually tied with Facebook’s buyout of WhatsApp for third with both being ~$19 billion exchanges (the HP-Compaq deal is often cited as being $25-$33 billion but it fell to $18.6 billion in the end).

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