(This post originally appeared on Forbes)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 — Boeing 747s are still using floppy disks. Yes, floppy disks.
A recent report uncovered that Boeing 747s— which were initially revealed in the last 1980s— continue to use floppy disks to get important software updates. Recently, members of the security research team at Pen Test Partners had the chance to fully examine the entirety of the planes avionics, discovering a disk drive that still used floppy disks. According to the report, the disk drive was utilized to import vital data that guided the planes navigation and required updates once a month that were installed by an engineer who would visit on site. (Source: The Verge)
Why this is important for your business:
Before you freak out, I actually kind of understand this, mainly because many of my small business clients do the same. Despite all the experts who urge that we always use the latest technologies, there’s a reason to stick with the old stuff: if it works, don’t break it. Perhaps the cost/benefit of changing out these archaic floppy disk systems isn’t worth the effort. That’s a question for Boeing to answer. But countless small business owners use this rationale when they decide where to spend their investment dollars. And in many cases, the decision to stay with older tech makes better sense if the ROI can’t be justified.
2 — These are the best wireless earbuds and Bluetooth headphones for phone calls.
Editors at CNET— a tech, culture, and science website— recently released their picks for the best wireless headphones for 2020. The picks were divided up into three categories: budget-friendly wireless headphones, best noise-canceling headphones, and best true/authentically wireless earbuds. (Source: CNET)
Why this is important for your business:
Everyone is using this stuff and maybe you’re paying for it as a perk. If that’s the case, then the top pick for best-sounding true wireless earbuds the Momentum True Wireless 2 by Momentum which cost $300. The top spot for noise-canceling headphones went to Sony’s WH-1000XM3 at $350. Lastly—costing $249— the best true wireless noise canceling headphones went to the Apple Airpods Pro.
3 —Amazon is launching Amazon Accelerate, a small-business virtual event, in September.
Amazon announced this past week that they plan to launch their first-ever Amazon Accelerate, a free small-business conference that will take place virtually. The conference— planned for the first three days in September— will provide over 60 different sessions that will be geared toward assisting small businesses navigate the remaining months of the year and help prepare them for years to come. (Source: Market Watch)
Why this is important for your business:
According to the company, in the last year small businesses in the United States have sold over $3.4 billion in goods through the tech giant’s stores. If you’re an Amazon partner or merchant or reseller then this event will likely provide valuable information to help you become more profitable on the platform.
4 — Facebook has formed Facebook Financial to ramp up their eCommerce payments efforts.
Facebook is ramping up their eCommerce involvement by launching recently developed Facebook Financial, a group that will be involved in eCommerce and payments ventures. According to Bloomberg News, Facebook Financial will head all of the organization’s payment ventures, which include their current payments platform, Facebook Pay. The aim of the new effort is to retain users in their apps for a longer period of time in order to amplify their advertising efforts and make more purchases on WhatsApp, Messenger, and Instagram. (Source: Pymnts)
Why this is important for your business:
Social brands like Facebook will continue to make a big push to keep their small business users on their sites by offering more capabilities for selling, engaging and collecting cash. I foresee a time when a small business will be doing all of its business just on Facebook because of all the tools available.
5— Income verification startup The Closing Docs is helping property managers during this economic crisis.
The Closing Docs— a Seattle-based startup— is looking to assist both landlords and renters during the coronavirus pandemic. The startup helps property managers gain a clearer picture regarding a tenant’s ability to make rent payments through their income verification software. (Source: GeekWire)
Why this is important for your business:
If you’re in the property management business this is a tool to consider. When a potential tenant applies for an apartment, the company’s software will link to the bank account belonging to the applicant in order to examine and organize their deposit data into a single report focusing detailing income. The software also has the capability to be integrated with online rental applications.
