Category: Features

With its new checking account, Credit Karma wants to get into your wallet

Posted onAuthoradmin

Credit Karma, the company that turned the promise of a free credit score into a business worth over $7 billion, is joining the ranks of “neobank” startups offering a checking account. The product will be folded into Credit Karma Money, which launched last year as a savings account available to the company’s 100 million members. Digital banking has been gaining steam for the last several years, with the pandemic only accelerating consumers’ interest in the options that neobanks are providing. In the U.S. and Europe, there are now over two dozen neobanks, which have collectively raised over $6 billion in venture funding. “We think this is a product for people who have been left behind in financial services,” Credit Karma cofounder and CEO Kenneth Lin says of his company’s variation on the theme. Credit Karma Money Checking will not charge fees and will include automated features designed to help users better manage their money, such as bill payment date optimization. Over time, data from Checking will also help the company better present its members with targeted advertisements for loans, credit cards, and more. “Historically, Credit Karma has been focused on helping people optimize their credit, optimize their borrowing,” says Lin. “Now we’re moving to the other side of that spectrum. We want to help you save for your future, and this is the connector to making all of the pieces work.” [Image: courtesy of Credit Karma] Credit Karma is entering an increasingly crowded market for digital-first checking and savings accounts. Read More …

The hottest new video game is . . . chess?

Posted onAuthoradmin

As a global pandemic continues to determine a new normal, tens of thousands of viewers have been tuning in to watch people play chess on a live-streaming website called Twitch.tv . An American chess grandmaster, Hikaru Nakamura, along with a number of celebrities of the video game world, is leading a renaissance in the ancient game. While viewers eagerly wait for Nakamura’s streams to begin, they are treated to a slideshow of memes involving Nakamura’s face superimposed into scenes from pop culture. First a reference to a well-known Japanese animation, next a famous upside-down kiss with Spiderman, and finally, Nakamura’s characteristic grin is edited onto the Mona Lisa herself. From August 21 to September 6, Twitch and Chess.com are hosting a tournament, called Pogchamps, where some of the most popular gaming streamers in the world compete in a chess tournament with $50,000 on the line . The current renaissance in chess is happening at the confluence of live-streaming technology, video game culture, and one grandmaster’s exceptional skills as both a chess player and entertainer. What is emerging is an unexpectedly good pairing between chess and a digital generation that is showing how influential gamers can be. The game of kings is more popular than ever , with over 605 million players worldwide, and now, memes are involved. Chess explodes on Twitch.tv Twitch.tv is a live-video streaming website that was started in 2011 as a platform for users to watch other people play video games. In recent years, Twitch has grown to become the cultural hub of the gaming community. It now hosts tens of thousands of creators who broadcast live to a global audience of around 17.5 million viewers a day . Since 2015, chess viewership has experienced exponential growth on Twitch. Read More …

Ford is betting its future on an electric Mustang SUV

Posted onAuthoradmin

People want to drive gas-guzzling SUVs. The demand for them, along with trucks, is continuing to grow so much that it could even outweigh the carbon-emission benefit gains made by all electric vehicles . That is, unless the car industry builds electric SUVs. That’s what the Ford Motor Company is doing. Today, the company is unveiling an electric SUV called the Mustang Mach-E (though details were leaked earlier this week). Unlike many electric cars, which tend to be smaller sedans that car companies often release to keep regulators happy, this car was designed from the ground up to fit right in with the rest of Ford’s famed Mustang sports cars. Except, of course, that you can’t rev the engine since you don’t need any gas (though the car’s performance version can still go from zero to 60 in about three and a half seconds). [Photo: courtesy of Ford Motor Company] The electric SUV, which will be delivered to customers in late 2020, is the first vehicle that was shepherded from start to finish by Ford CEO Jim Hackett, who took the company’s top job in 2017 and previously helmed the furniture manufacturer Steelcase. While Hackett has announced a renewed emphasis on electric cars and hybrids, with an announcement in 2018 that Ford would release 40 nongas cars by 2022, this is the first tangible evidence of his strategy—and the first evidence of how his emphasis on the Ideo brand of design thinking might pay off for the 116-year-old automaker. The rationale for an electric SUV Hackett says that there were plans for a new Ford electric car already underway when he joined the company, but that he and his team decided to scrap it and start afresh. “I was imbuing this notion that design is going to rule here,” Hackett says. “[My team] said, this doesn’t meet the measure of any of that. So we said, we have to tear it up.” Instead of building yet another “science project,” as Hackett called previous electric cars in our conversation, Ford decided to focus instead on macro trends to find a form factor that might actually be profitable for the company ( like most manufacturers , Ford has never built a profitable electric car). The most important trend? If you take fuel efficiency off the table, people want larger cars. Ford Motor Company CEO Jim Hackett [Photo: courtesy of Ford Motor Company] “People have voiced that when fuel prices are low, they want larger silhouettes,” Hackett says. “That’s what customers are telling us Read More …

Sober curious? There’s an app—in fact, a whole community—for that

Posted onAuthoradmin

When serial entrepreneur MJ Gottlieb, 48, was trying to get sober years ago, he completely avoided drinking establishments. That proved no easy feat when there were at least 14 bars in a two-block radius around his home in New York City and so many friends and colleagues relied on the usual social outings. “There was like nothing else people would come [up with] than ‘let’s grab a drink’ or ‘let’s tailgate,’” says Gottlieb. “Everything seemed to be centered around alcohol.” [Image: Loosid] At the time, Gottlieb ran a strategic consulting firm which specialized in small brands. To unwind, he inevitably wound up in one of two places: coffee shops and diners. Those became his entire social scene. But it got old, quick. Read More …