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Fire TV arrives on Amazon’s wall-mounted smart screen, the Echo Show 15



Fire TV is now available on the Echo Show 15. In September, Amazon announced it was soon bringing its Fire TV experience to its larger, 15.6-inch wall-mounted Echo, offering consumers a way to access a combination smart speaker, smart home hub, and a TV-like device at a relatively affordable price point — it’s currently selling for $185, down from the list price of $250. With the free update rolling out today, Echo Show 15 customers will be able to stream Fire TV content, which means Prime Video along with other popular services, like Disney+, Netflix, YouTube TV, HBO Max, Hulu, Parmount+, Peacock, NBC Sports and others. YouTube and YouTube Kids are also available as Amazon and Google worked out their differences back in 2019.

While the streaming functionality may now become the main selling point for this device, the Echo Show 15 also offers other standard Echo Show functionality, like the ability to manage smart home devices, make to-do lists, listen to podcasts, and speak to Alexa, among other things.

Plus, the Show’s bigger screen can be customized with a variety of widgets, which allows the device to become sort of a family hub with things like sticky notes, shopping lists, shortcuts to smart home favorites, reminders, shared and individual calendars, links to recently launched apps, and more. To cater to those who mount the device in the kitchen, the Echo Show 15 also offers recipe suggestions from Epicurious, Tasty, and Allrecipes.

Image Credits: Amazon

Privacy-sensitive customers should be cautioned that there are some more invasive features included with this version of Echo, including a Voice ID feature that allows Alexa to call you by your name and personalizes the responses based on who’s asking. It also includes a Visual ID facial recognition system that’s used to provide additional personalization. (Amazon says Visual ID and facial images are stored on your Echo Show device, and both systems are optional.)

After the update that brings support for Fire TV, users will be guided through a setup process that includes having them select apps and pairing their Alexa Voice Remote (3rd gen.). The remote only works within the Fire TV experience. It’s useful, as some apps (like Netflix) will warn they offer “limited touch functionality.” In those cases, the device will pop up a virtual on-screen remote which you can tap to navigate the service if you don’t have the Alexa remote or don’t have it handy. It’s an odd workaround for the lack of touch controls — a feature that’s somewhat expected when a device is otherwise touch-based. But it works in a pinch.

Image Credits: Amazon

One issue that may crop up with the remote control is not about the functionality itself, but rather the way the device is meant to be used in real life.

If the Echo Show 15 is mounted in the kitchen, where is the remote meant to go — on the kitchen countertop? In a junk drawer where it’s out of the way? Next to your blender? It’s odd. In the living room, it’s fine to leave a remote on an entertainment console or coffee table, but most people wouldn’t want to see a remote control laying around in their kitchen. A simple add-on like a remote control holder on to the device’s outer frame could have gone a long way towards making the Echo Show 15 more user-friendly for real world use. (Some of the third-party accessory makers — like those who offer stands to consumers who don’t want to wall-mount their device — haven’t thought about this need, either.)

Meanwhile, though the remote can be used in Fire TV, it can’t be used to navigate the Echo Show 15’s widgets or other skills and services. That seems like a miss on Amazon’s part. An elegant experience would have allowed a customer to navigate to a notes or lists widget with the Fire TV experience minimized and/or paused while in picture-in-picture (PiP) mode, then allow them to update their shopping list with a quick voice command before returning their program in full-screen.

The device does support PiP for watching a live camera feed — like the nursery cam or doorbell — while watching a show or recipe video, which is handy. You can also enable this by voice, by first asking Alexa to play a TV show, then saying something like “Alexa, show me…,” followed by the name of the camera feed you want to see. This PiP feed can be dragged around on the screen, too.

The remote’s home button will launch the Fire TV experience at any time, and the Live TV and quick-access provider buttons (e.g. for Netflix, Hulu, Disney+ and Prime Video) will take you directly to those services. Still, the lack of continuity between touch and remote control-based navigation could be challenging for the less technically savvy, such as elderly people who still struggle with using their iPhones, for example.

Once you’ve set up and used Fire TV, a widget will be added to your home screen — if you don’t already have your screen full of widgets. (Fire TV is only added if you have 9 or fewer widgets installed.) Otherwise, you can click the + symbol from the widget in the Widget Gallery to add it.

When not in use, the Echo Show can display a photo slide show, like a digital photo frame would, or can display artwork or other stock imagery, like nature photography, if you prefer.

While not widely publicized, the Echo Show 15 will work with Amazon’s Echo Buds for a private listening mode with noise cancellation. (Sadly, it could not identify a set of AirPods). You can, however, stream from your mobile to Echo Show 15 or from the device to a Bluetooth speaker, if it doesn’t require a PIN code. (Specifically, it supports A2DP and AVRCP, the latter for voice control of connected mobile devices, but not Mac OS X devices.)

Image Credits: Amazon

Overall, the Fire TV 15 could work for someone who wants a wall-mounted device, or something to replace a more dated, smaller-screen TV for their kitchen (ahem, big kitchen with lots of wall space, that is!). It could also perhaps work in another room of the house, like a garage workshop, craft room, guest room, or any other extra space where you don’t want to invest in a full TV as you would for a living room, den, or playroom.

But it could be difficult for the device to find a large audience, as it’s attempting to carve out a niche somewhere in between the use case for touchscreen media devices like Apple’s iPad and more affordable, smaller screened sub-$100 TVs. Its lack of an included stand may also put off some consumers who don’t think the couple hundred dollars (plus or minus, depending on sales), is worth it when smaller, non-mountable Echo Show devices are much more affordable. Plus, Google is teasing its upcoming Pixel tablet will offer a charging speaker dock, which is a clever combination of a viewing screen for the kitchen and a tablet for your portability needs. Amazon, of course, is banking on consumers paying for the Alexa functionality and smart home controls, which may appeal to some — if you have a spot for such an oversized device in the first place.


The market has changed, but super-voting shares are here to stay, says Mr. IPO



Yesterday, the ride-sharing company Lyft said its two co-founders, John Zimmer and Logan Green, are stepping down from managing the company’s day-to-day operations, though they are retaining their board seats. According to a related regulatory filing, they actually need to hang around as “service providers” to receive their original equity award agreements. (If Lyft is sold or they’re fired from the board, they’ll see “100% acceleration” of these “time-based” vesting conditions.)

As with so many founders who’ve used multi-class voting structures in recent years to cement their control, their original awards were fairly generous. When Lyft went public in 2019, its dual-class share structure provided Green and Zimmer with super-voting shares that entitled them to 20 votes per share in perpetuity, meaning not just for life but also for a period of nine to 18 months after the passing of the last living co-founder, during which time a trustee would retain control.

It all seemed a little extreme, even as such arrangements became more common in tech. Now, Jay Ritter, the University of Florida professor whose work tracking and analyzing IPOs has earned him the moniker Mr. IPO, suggests that if anything, Lyft’s trajectory might make shareholders even less nervous about dual-stock structures.

For one thing, with the possible exception of Google’s founders — who came up with an entirely new share class in 2012 to preserve their power — founders lose their stranglehold on power as they sell their shares, which then convert to a one-vote-per-one-share structure. Green, for example, still controls 20% of the shareholder voting rights at Lyft, while Zimmer now controls 12% of the company’s voting rights, he told the WSJ yesterday.

Further, says Ritter, even tech companies with dual-class shares are policed by shareholders who make it clear what they will or will not tolerate. Again, just look at Lyft, whose shares were trading at 86% below their offering price earlier today in a clear sign that investors have — at least for now — lost confidence in the outfit.

We talked with Ritter last night about why stakeholders aren’t likely to push too hard against super-voting shares, despite that now would seem the time to do it. Excerpts from that conversation, below, have been lightly edited for length and clarity.

TC: Majority voting power for founders became widespread over the last dozen years or so, as VCs and even exchanges did what they could to appear founder-friendly. According to your own research, between 2012 and last year, the percentage of tech companies going public with dual-class shares shot from 15% to 46%. Should we expect this to reverse course now that the market has tightened and money isn’t flowing so freely to founders?

JR: The bargaining power of founders versus VCs has changed in the last year, that’s true, and public market investors have never been enthusiastic about founders having super voting stock. But as long as things go well, there isn’t pressure on managers to give up super voting stock. One reason U.S. investors haven’t been overly concerned about dual-class structures is that, on average, companies with dual-class structures have delivered for shareholders. It’s only when stock prices decline that people start questioning: Should we have this?

Isn’t that what we are seeing currently?

With a general downturn, even if a company is executing according to plan, shares have fallen in many cases.

So you expect that investors and public shareholders will remain complacent about this issue despite the market.

In recent years, there haven’t been a lot of examples where entrenched management is doing things wrong. There have been cases where an activist hedge fund is saying, “We don’t think you’re pursuing the right strategy.” But one of the reasons for complacency is that there are checks and balances. It’s not the case where, as in Russia, a manager can loot the company and public shareholders can’t do anything about it. They can vote with their feet. There are also shareholder lawsuits. These can be abused, but the threat of them [keeps companies in check]. What’s also true, especially of tech companies where employees have so much equity-based compensation, is that CEOs are going to be happier when their stock goes up in price but they also know their employees will be happier when the stock is doing well.

Before WeWork’s original IPO plans famously imploded in the fall of 2019, Adam Neumann expected to have so much voting control over the company that he could pass it along to future generations of Neumanns.

But when the attempt to go public backfired — [with the market saying] just because SoftBank thinks it’s worth $47 billion doesn’t mean we think it’s worth that much —  he faced a trade-off. It was, “I can keep control or take a bunch of money and walk away” and “Would I rather be poorer and in control or richer and move on?” and he decided, “I’ll take the money.”

I think Lyft’s founders have the same trade-off.

Meta is perhaps a better example of a company whose CEO’s super-voting power has worried many, most recently as the company leaned into the metaverse.

A number of years ago, when Facebook was still Facebook, Mark Zuckerberg proposed doing what Larry Page and Sergey Brin had done at Google but he got a lot of pushback and backed down instead of pushing it through. Now if he wants to sell off stock to diversify his portfolio, he gives up some votes. The way most of these companies with super voting stock are structured is that if they sell it, it automatically converts into one-share-one-stock sales, so someone who buys it doesn’t get extra votes.

A story in Bloomberg earlier today asked why there are so many family dynasties in media — the Murdochs, the Sulzbergers — but not in tech. What do you think?

The media industry is different from the tech industry. Forty years ago, there was analysis of dual-class companies and, at the time, a lot of the dual-class companies were media: the [Bancroft family, which previously owned the Wall Street Journal], the Sulzbergers with the New York Times. There were also a lot of dual-class structures associated with gambling and alcohol companies before tech firms began [taking companies public with this structure in place]. But family firms are nonexistent in tech because the motivations are different; dual-class structures are [solely] meant to keep founders in control. Also, tech companies come and go pretty rapidly. With tech, you can be successful for years and then a new competitor comes along and suddenly . . .

So the bottom line, in your view, is that dual-class shares aren’t going away, no matter that shareholders don’t like them. They don’t dislike them enough to do anything about them. Is that right?

If there was concern about entrenched management pursuing stupid policies for years, investors would be demanding bigger discounts. That might have been the case with Adam Neumann; his control wasn’t something that made investors enthusiastic about the company. But for most tech companies — of which I would not consider WeWork — because you have not only the founder but employees with equity-linked compensation, there is a lot of implicit, if not explicit, pressure on shareholder value maximization rather than kowtowing to the founder’s whims. I’d be surprised if they disappeared.

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Tesla brings back European referral program as end of Q1 nears



Tesla is bringing back its referral program to Europe, a strategy that taps into the brand loyalty of customers as it seeks to preserve market share and boost sales before the first quarter of 2023 closes.

The referral program follows Tesla’s move to reduce prices in a variety of markets, including Europe, China and North America.

Starting Tuesday in Europe, new Tesla buyers can receive 100 so-called “Loot Box Credits” when referred by a current Tesla owner, who will get 2,000 credits for the referral. If the referred customer takes delivery before March 31, 2023, they’ll get a bonus of 5,000 free Supercharging kilometres, and the referrer will get 10,000 credits. Those credits can be redeemed for software upgrades, up to 10,000 kilometers of free Supercharging “and more.”

Tesla has never used traditional advertising, so the company has historically used its referral program to get its loyal customer base to promote vehicles. Those rewards have changed over the last few years. At certain points, owners could win rewards like having a photo of their choosing launched into deep space orbit, an invite to an upcoming Tesla event, or even free new Roadsters to owners who accumulated enough referrals.

Tesla realized such extravagant rewards were starting to eat into profits, so in 2019 the automaker paused the program and came back with a more reasonable one that gives the referral giver and receiver 1,000 miles of free Supercharging each.

Last November, Tesla launched a revamped referral program in the U.S., which gives out credits that can be put towards the purchase of Tesla solar products, like the Solar Roof and Solar Panels. Tesla also launched a program in China called Treasure Box, where owners get credits that can be used towards the purchase of accessories like vehicle chargers, t-shirts or shot glasses.

The move in Europe suggests that Tesla is trying to hold onto, or even grow, its market share dominance. Tesla was the most popular EV brand in Europe last year, with the Model Y and Model 3 topping the ranks at 138,373 and 91,257 sales, respectively. Following behind were the Volkswagen ID.4 with 68,409 unit sales, the Fiat 500 electric with 66,732, and the Ford Kuga plug-in hybrid EV with 55,018 sales, according to Inside EVs.

While Tesla was the most popular EV brand in Europe last year, it actually falls behind the large multi-brand OEMs. Volkswagen Group, which includes brands like Audi and VW, actually has the largest market share of plug-in EVs with 20.6%. Stellantis, BMW Group and Hyundai follow with 14.6%, 10.5% and 10.1%, respectively. Mercedes and Tesla are tied at around 9% share.

As of this week, Tesla has finally hit production capacity of 5,000 vehicles per week at its Berlin gigafactory — a milestone CEO Elon Musk had originally promised for the end of 2022. While production numbers don’t equal sales, it’s possible that the increased production in Europe could help the automaker maintain its position and gain even more market share in the future.

The referral program isn’t the only move Tesla has made to boost sales, particularly before it reports quarterly earnings. In January, Tesla cut prices for Model 3 and Model Y vehicles in the U.S. and Europe by 20%. Earlier this month, the automaker slashed Model S and Model X prices in the U.S. as well.

In December 2022, Tesla also provided up to $7,500 discounts for vehicles purchased and delivered before the end of the year in the hopes of attracting buyers who might otherwise wait for the new year when Inflation Reduction Act incentives would kick in.

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Pinterest brings shopping capabilities to Shuffles, its collage-making app



Pinterest announced today that it’s testing ways to integrate Shuffles collage content into Pinterest, starting with shopping. Shuffles, which is Pinterest’s collage-making app, launched to general public last November. To use Shuffles, users build collages using Pinterest’s own photo library or by snapping photos of objects they want to include with their iPhone’s camera. The iOS-only app is available in the U.S., Canada, Great Britain, Ireland, Australia and New Zealand.

Shuffles will now have all of the shopping capabilities as regular pins. Users will be able to tap individual cutouts used in collages, see the brand, price, and other product metadata along with similar products to shop.

“Unlike typical product exploration, Shuffles bring an interactivity that makes the experience inspirational and fun,” the company said in a blog post. “Gen-Z is curating fresh, relevant content alongside their peers, which is quickly making for a marketplace of trendy, shoppable ideas. The high density nature of Shuffles, which can include layers of product cutouts from multiple Pins, allows consumers to dig deeper and also connect to other Shuffles that include the same Pins. As we look ahead to how consumer behavior is evolving, we’re testing ways of integrating Shuffles collage content into Pinterest, starting with shopping.”

Although Shuffles surged to become the No. 1 Lifestyle app on the U.S. App Store in August when it was invite-only, the app’s popularity has since declined. By bringing shopping capabilities to Shuffles, Pinterest is likely looking for ways to retain users on the standalone app.

Image Credits: Pinterest

Pinterest also announced that it’s exploring a new takeover feature for advertisers called “Pinterest Premiere Spotlight” that prominently showcases a brand on search. The company says the feature is designed give advertisers a new way to reach users on Pinterest.

The company says 97% of top searches on Pinterest are unbranded, which means users typically don’t type a brand name into their searches on the platform. This gives brands the opportunity to be discovered as they help consumers go from discovery to decision to purchase, Pinterest says. In the coming months, the company planes to offer additional ways to help brands connect with shoppers.

Pinterest also shared some new stats about its Catalogs offering, which lets brands upload their full catalog to the platform and turn their products into dynamic Product Pins. The company says it has seen a 66% increase in retailers setting up shop by uploading or integrating their digital catalogs on its platform, along with 70% growth in active shopping feeds year over year globally.

As part of its most recent earnings release, Pinterest revealed that its platform now has 450 million monthly active users globally, a 4% jump year-on-year. Pinterest has been focused on enhancing the shopping experience on its platform over the past few years, and said during its earnings call that it wants to make every pin shoppable, including videos.

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