Tech
Peter Obi, Linus Okorie, Chimezie Amadi, Mark Angel, Others Set For 2024 Social Media Fest
Very influential Nigerians are set to participate in the upcoming Social Media Fest (SMFEST 2024), the fourth edition of the Africa’s premier technology and business innovation event.
With the theme, “Evolve”, the event is bringing together the best minds in the tech and business world to explore how digitalization can drive growth and transformation in Africa.
Among them is the 2023 presidential candidate of Labour Party, Peter Obi, a leadership coach, Linus Okorie, child comedian Mark Angel and Chimezie Amadi.
Others are, Dr. Gideon Osi, CEO of Gosima Group an established business guru with results, Mark Angel a globally recognized content creator known for his viral comedy skits that have transcended borders and John Obidi a thought leader in personal development and digital entrepreneurship.
Also to be at the event include, Kenny Nwokoye a business strategist and dynamic speaker specializing in empowering businesses through innovative strategies, Nathaniel Disu a tech innovator making strides in Africa’s digital landscape and Dr. Ninnah – An expert in leveraging technology to drive business growth and innovation.
SMFEST according to the organizers is on a mission to build a thriving community of creatives, entrepreneurs, and innovators who maximize the power of technology and social media to grow businesses, increase visibility, and foster social change.
They said the event is focused on offering practical insights, cutting-edge ideas, and digital tools to help attendees understand how to harness the immense potential of digitalization for personal and professional advancement.
SMFEST 2024 will take place on October 19, 2024, at the Landmark Event Center in Owerri, Nigeria. The venue is set to come alive with the electrifying energy of participants, speakers, and sponsors all united by a common goal—to connect, innovate, and grow.
Tech
YouTube And Meta To Pay $3M Compensation To Girl Who Got Addicted To Their Platforms
A jury in Los Angeles has ruled that tech giants YouTube and Meta are liable for negligence in a closely watched case involving a young woman who said she became addicted to their platforms from childhood.
The panel awarded the plaintiff $3 million in compensatory damages, assigning 70 percent of the liability to Meta. Jurors also determined that both companies could face additional punitive damages, with a decision on that yet to be made.
The lawsuit, filed in 2023, alleged that platforms such as Instagram were deliberately designed to create addictive user experiences, particularly for young audiences. According to court filings, the plaintiff began using YouTube at age six and Instagram at nine.
During the trial, a therapist who treated the woman testified that prolonged social media exposure contributed to significant mental health challenges, including social phobia and body image issues.
Both companies have rejected the verdict. Meta argued that teen mental health is influenced by multiple factors and cannot be attributed to a single platform. YouTube, meanwhile, maintained that its service is not inherently addictive.
Legal experts expect both companies to appeal the decision, setting the stage for a potentially influential battle over the responsibility of tech platforms in safeguarding young users.
Tech
Google acquires energy company Intersect for $4.75 billion
Google is acquiring energy infrastructure company ‘Intersect’ for $4.75 billion (approximately 7 trillion Korean won) to secure the power needed for its AI (artificial intelligence) data centers. The move aims to address the power issue, the biggest hurdle in expanding data centers. Google, which developed the ‘Gemini’ AI, is a so-called ‘AI full-stack’ company equipped with all AI-related technologies and services, including AI chips and cloud (virtual servers). The strategy is to directly manage the energy infrastructure needed to actually operate AI as well.
Reuters reported on the 22nd (local time) that Google is acquiring Intersect for $4.75 billion in cash. Google already holds a minority stake in Intersect, and through this acquisition, it will also secure the gigawatt (GW)-level energy and data center projects that Intersect is developing and constructing. Intersect is expected to be responsible for building Google’s data center power infrastructure in the U.S., based on its technology linking power generation facilities and power grids.
Sundar Pichai, CEO of Google and Alphabet, said, “Intersect will enable us to build power infrastructure more quickly and flexibly in line with the increasing demand for AI data centers,” adding, “It will also be an important partner in strengthening America’s energy innovation and technological leadership.”
Bloomberg reported that Intersect’s energy assets currently in operation or under construction in the U.S. amount to $15 billion (approximately 22.2 trillion Korean won).
◇Google increasing energy investments
Google has recently been increasing its investments in the energy sector. Although the company possesses AI chips (TPUs), Gemini, and search and cloud services, stable energy supply is essential to support these businesses.
To this end, Google is also investing in nuclear power technology. In October of last year, it signed a long-term cooperation agreement with small modular reactor (SMR) startup ‘Kairos Power’ to secure up to 500 MW (megawatts) of power. It is noted as the first case among big tech companies to publicly declare securing SMR-based power. Additionally, in August, Google and Kairos Power announced plans to build the next-generation SMR ‘Hermes 2’ in Oak Ridge, Tennessee. The goal is to commence operation in 2030.
Google is also restarting previously shut-down nuclear power plants to secure energy. In October, it announced that it will collaborate with ‘NextEra Energy’ to restart the Duane Arnold Nuclear Generating Station in Iowa, which was closed in 2020. The target restart period is between 2028 and 2029.
Google is also investing in renewable energy such as geothermal power. Since 2023, it has been supplying power to data centers through geothermal power generation with ‘Fervo Energy’ in Nevada, U.S.
Google is also actively investing in next-generation energy technologies that are not yet commercialized. In 2022, it made a large-scale investment in ‘TAE Technologies,’ which possesses nuclear fusion technology. Nuclear fusion power generation is a technology that applies the principle of energy creation in the sun, combining atomic nuclei to produce energy. It is called the ‘dream energy’ because it has abundant fuel resources, emits no carbon, and, unlike conventional nuclear power plants, does not produce high-level nuclear waste. However, it is assessed that more time is needed for commercialization due to technical challenges. Recently, TAE Technologies has accelerated the commercialization of fusion energy by merging with Trump Media Group (TMTG).
Tech
“I Lost $1.2 Million To Hackers On One Of My Apps. I Caught One Of The Hackers, And Instead Of Handing Him Over To The Police, I Employed Him To Work For Me.”- BLord
Anambra Born tech entrepreneur and businessman Linus Williams, popularly known as BLord, has shared an unusual story about how he handled a major cyberattack on one of his applications.
According to BLord, he lost $1.2 million to hackers who infiltrated one of his digital platforms. In the course of tracking the incident, he successfully identified one of the individuals involved in the breach.
Rather than handing the suspect over to security agencies, BLord said he made a strategic decision: he employed the hacker.
He explained that the hacker’s skills, though misapplied, were exceptional and could be redirected towards strengthening his company’s cybersecurity systems.
BLord noted that the decision was driven by a desire to turn a negative experience into an opportunity for growth and to better secure his business infrastructure.
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