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Facebook and AR : The end of smartphones and TVs is coming

As The New York Times notes, Zuckerberg has long been disappointed that Facebook never built a credible smartphone operating system of its own.

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It’s no secret Mark Zuckerberg is pinning Facebook’s prospects on augmented reality — technology that overlays digital imagery onto the real world, like Snapchat’s signature camera filters.

At this year’s F8 conference, taking place this week, Zuckerberg doubled down on the company’s ambitious 10-year master plan, which was first revealed in 2016.

To accelerate the rise of augmented reality, a big part of the plan, Zuckerberg unveiled the Camera Effects platform — basically a set of tools for outside developers to build augmented-reality apps that you can access from the existing Facebook app’s camera.

That would theoretically open the door for Facebook to host the next phenomenon like “Pokémon Go.”

While this announcement seems pretty innocuous, make no mistake — Facebook is once again putting itself into direct competition with Google and Apple, trying to create yet another parallel universe of apps and tools that don’t rely on the smartphones’ marketplaces.

As The New York Times notes, Zuckerberg has long been disappointed that Facebook never built a credible smartphone operating system of its own.
This time, though, Facebook is also declaring war on pretty much everyone else in the tech industry, too. While it’ll take at least a decade to fully play out, the stuff Facebook is talking about today is just one more milestone on the slow march toward the death of the smartphone and the rise of even weirder and wilder futures.

Why buy a TV?

Zuckerberg tipped his hand, just a bit, during Tuesday’s Facebook F8 keynote. During a demo of the company’s vision for augmented reality — in the form of a pair of easy-to-wear, standard-looking glasses — he showed how you could have a virtual “screen” in your living room, bigger than your biggest TV.

“We don’t need a physical TV. We can buy a $1 app ‘TV’ and put it on the wall and watch it,” Zuckerberg told USA Today ahead of his keynote. “It’s actually pretty amazing when you think about how much of the physical stuff we have doesn’t need to be physical.”

That makes sense, assuming you’re into the idea of wearing a computer on your face (and you’re OK with Facebook intermediating everything you see and hear, glitches and all).
But it’s not just TVs.

This philosophy could extend to smartphones, smartwatches, tablets, fitness trackers, or anything else that has a screen or relies on one to work. Zuckerberg even showed off a street art installation that’s just a blank wall until you wave the Facebook camera app over it to reveal a mural.
For Microsoft, which has already dipped its toe in this area with its HoloLens holographic goggles, this is a foregone conclusion. HoloLens boss Alex Kipman recently called the demise of the smartphone the “natural conclusion” of augmented reality and its associated technologies.
Source: Mark Zuckerberg: The end of smartphones and TVs is coming | World Economic Forum

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This is what global tax reforms could mean for Asia’s tech giants

A new set of agreed global tax reforms will change where tech giants and other global giants pay taxes, explain experts from the IMF. Investment hubs such as Singapore and Hong Kong SAR could lose up to 0.15% of GDP as a result.

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Asia’s advanced and emerging market economies have several locally headquartered tech giants and host foreign companies.

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

What measures has SET taken to support listed companies’ compliance with ESG standards?
PAKORN PEETATHAWATCHAI:

PAKORN: When we first began promoting ESG-compliant investments, we were met with little interest. We attributed this to a lack of clear data to showcase the economic benefits of ESG investment, and perhaps limited clarity as to what constitutes a sustainable or ESG-compliant investment. The launch of the THSI list and, subsequently, the SETTHSI Index, was designed to address this. Our most recent data, comparing returns for the SETTHSI Index with the broader SET and SET100 indices from April 2020 to April 2021, underscores the economic benefits of these investments: the group compliant with ESG standards outperformed the other two indices on every data point. 

As of May 2021 Thailand was home to CG and ESG assets under management totalling BT54.8bn ($1.7bn) across 50 funds – up from 23 funds in 2019. Meanwhile, of the BT187.1bn ($5.9bn) raised in green, social and sustainability bonds since 2018, BT136.4bn ($4.3bn) was raised in 2020 – 83% from the government and the remainder from development banks and private players. This rising demand, in a move to manage risk and generate returns, has been complemented by growing supply and promotion: supply from ESG-compliant businesses aiming for resiliency and sustainable growth, as well as promotion from regulators highlighting investment opportunities with good CG and SD practices. Indeed, the pandemic has been a catalyst in shifting the view of ESG compliance from a luxury to a requirement in the new normal.

In what ways can enhanced standard-setting and regulatory mechanisms overcome the remaining barriers to improved ESG performance?

PAKORN: A multi-stakeholder approach is crucial for enhanced ESG performance – not only in Thailand, but around much of the globe. This can also help to address the standout incumbent challenge: access to reliable, wide-ranging ESG data. For example, the 2020 update to the 56-1 One Report established clear ESG standards and triggered online and offline capacity-building programmes to support listed firms’ compliance. SET is developing an ESG data platform with a structured template to promote the availability of comparable data, maximise value added from corporate sustainability disclosures, and foster collaboration between the business value chain and stakeholders. This is expected to support Thai companies along their ESG journey in an economically sustainable way, result in a greater number of sustainability-focused products and services, drive sustainable investing in the Thai investment community and ultimately “make the capital market work for everyone”, as outlined in the SET’s vision.
 

 

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