(This article originally appeared in Forbes)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 -Amazon’s Prime Air service will begin making drone deliveries in California this year.
Amazon announced this past week that it will start making drone deliveries later this year in California as part of Amazon’s Prime Air service pilot program. The service will deliver thousands of various items directly to Amazon customers’ backyards in Lockeford, CA who will then provide feedback about the Prime Air service. Amazon plans to gradually scale the service to conveniently meet customer needs in other areas. (Source: Engadget)
Why this is important for your business:
Slowly but surely, drone technology is expanding through all areas of business. For a small business you might want to consider drones to survey real estate or monitor the progress of work being done in large geographic areas. I’ve also had a few of my clients begin to use drones inside their warehouses to check safety and perform cycle counts of inventory.
2 — PayPal is expanding its BNPL offering suite with ‘Pay Monthly’ to give customers more buying options.
PayPal recently launched its new Buy Now Pay Later (BNPL) offering called ‘Pay Monthly.’ The new BNPL capability enables consumers in the U.S. to space out payments for up to two years after a purchase. Customers will be able to access Pay Monthly directly through PayPal for better flexibility and greater options to pay for items they need or want. (Source: ZDNet)
Why this is important for your business:
With Apple now in the game, many of the BNPL providers are looking to step up their offerings — and the variety of the financing they offer. Your business should consider offering BNPL options for your customers that want a little credit, but don’t want to use a credit card.
3 -Dozens of companies and small business groups are backing a U.S. bill to rein in Big Tech.
Small business groups and companies across the country are rallying support for a U.S. bill aimed to rein in Big Tech giants such as Google and Amazon. Dozens of organizations sent a letter to members of Congress this past week in an effort to urge them to support the bill. Companies and organizations backing the initiative include Spotify, DuckDuckGo, Somos, Yelp, the American Booksellers Association, the Institute for Local Self-Reliance, the Chamber of Commerce, and more. (Source: Reuters)
Why this is important for your business:
I am a less-government person, but even I have to admit that our biggest technology companies wield too much power over our personal and professional lives. More regulations are needed in order to ensure these companies are supervised and that they’re leaving a fair playing field for small businesses. In some cases, a breakup of some of the giants may be necessary. It’s happened to big oil and big telephone before in our history. It’s probably going to happen again with big tech.
4 — The once-hot fintech sector is facing IPO delays and consolidation.
FinTech companies have started to pause IPO plans and slash expenses as concerns of a recession grow. These fears have begun to change the way investors are viewing the market, with heads of fintech organizations becoming uneasy about how the financial climate may impact valuations and fundraising. Many investors and executives shared that rising interest rates and inflation make raising money a challenge for fintech firms. (Source: CNBC)
Why this is important for your business:
The fintech industry is running out of money as the cost of capital increases and financing dries up. If your business relies on a fintech platform you need to be careful that the company behind the platform remains in business — or you could be affected. Ask, research and have a backup plan.
5- These are the best Microsoft Surface deals for June 2022 according to Laptop Magazine.
Laptop Magazine recently shared its top picks for Microsoft Surface deals for June. After conducting various performance tests, top deals include the Microsoft Surface Laptop 4 starting at $799, the Microsoft Surface Pro 8 starting at $899, Microsoft Surface Laptop Studio starting at $1,399, and the Microsoft Surface Laptop Go starting at $899. Details for each device can be found here. (Source: Laptop Mag)
Why this is important for your business:
I need a new laptop this year and Microsoft Surface is definitely in the running — I know many people who love the device. So maybe this article will help you too, if you’re in the same situation.
