Internet

The Heartbleed bug, a flaw discovered on encryption software used on about two-thirds of all websites, was created unintentionally, the programmer responsible has said.

Robin Seggelmann, a German programmer, described the flaw as the consequence of a “trivial” error in an update to OpenSSL, the software widely used to enable secure connections, writes Jeevan VasagarRead more

Tim Bradshaw

Dropbox chief Drew Houston is preparing for life as a public company executive.

In an interview with the FT after Wednesday’s launch of Carousel, a new photo-sharing app, and a suite of other new products, Mr Houston didn’t even wait for the inevitable question about an initial public offering to address the topic.

“We will continue to surround the company with great advisors, board members and other folks who have public company experience,” he said. “I’m not worried about the tactical side of operating as a public company.” Read more

Mike Judge on set with the cast of Silicon Valley

Could there be a better-timed comedy series than HBO’s new Silicon Valley? The tech hotspot has never been hotter. And the opportunities for satire have never been funnier.

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Tim Bradshaw

Want to hear a Silicon Valley joke? Two geek billionaires walk into a coffee shop and nobody notices.

There’s no punchline. This actually happened a couple of weeks ago when I was in Mountain View and the co-founders of WhatsApp popped into their local for a brew. Despite being full of start-ups, nobody in the Red Rock Café seemed to recognise the pair who had just sold their app to Facebook for upwards of $16bn.

WhatsApp has almost 500m active users around the world but many in Silicon Valley’s elite only discovered the chat app when Mark Zuckerberg opened his chequebook. It’s entirely possible that, in the past year, more people here have tried Google Glass, the sci-fi headset that most outside Silicon Valley love to hate, than sent a message on WhatsApp. Read more

The prospect of a US-based IPO by Chinese e-commerce juggernaut Alibaba has triggered a recent wave of short-term conjecture over the eye-watering figures involved.

A listing could garner as much as $25bn for example – making it the largest float in history. Wall Street banks could reap up to $400m in fees. Alibaba’s $170bn annual revenue now accounts for 2 per cent of China’s gross domestic product, and is bigger than those of eBay and Amazon combined.

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Sarah Mishkin

Square, the payments processing start-up, is looking for new users for its credit card device among the US’s growing Latino community.

The company, co-founded by Twitter’s Jack Dorsey, is today unveiling Spanish language support and software in hopes of tapping into the purchasing power of America’s more than 50m Latinos. Read more

A man looks at the screen of his mobile phone at Pudong financial district in ShanghaiA new war is brewing between China’s three internet giants, known collectively as BAT – short for Baidu, the dominant search engine, Alibaba, which controls 80 per cent of China’s ecommerce, and Tencent, the gaming and social media juggernaut with a market capitalisation of $132bn. For Wang Ran, a blogger and founder of China eCapital, an investment bank, the competition between Didi Dache [“Honk Honk Taxi”], a Tencent taxi-hailing app, and Alibaba’s Kuadi Dache [“Fast taxi”] is “the first battle in the first world war of the internet”.

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Alibaba’s decision to head to the US for its blockbuster IPO – perhaps the world’s largest ever – is undoubtedly a major blow to Hong Kong’s global ambitions.

But chucking out years of hard-won progress for a single pay-day – with the risk of opening
the market to myriad potential problems down the road – would have been the wrong move.

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The BBC thinks its iPlayer service is “the best online television service in the world” – a platform so good that it’s the envy of Silicon Valley. So will Apple and Google be impressed by the platform’s latest redesign, unveiled in London on Tuesday?

This is a crucial time for the iPlayer: it will soon become the only home of BBC Three, the off-beat channel which is being taken off air to save costs. Tony Hall, the BBC’s director-general, wants the platform to be the “front door” to all the broadcaster’s content.

So what’s on offer in the new version? Read more

Almost five years after launching, crowd-funding platform Kickstarter has received pledges worth $1bn. Half of the money has apparently been in the past twelve months (see chart below).

If Kickstarter were a venture fund, it would be a fairly significant player. So how exactly has humanity been enriched, for its money? Read more