Month: July 2009

Jeff Bezos’ & Amazon’s Big “Tell”

(Why do I single out Bezos here?  Because responsibility goes to the top and Bezos is the Founder, Chairman, CEO, and President of Amazon.)

2009-7-23 UPDATE: See bottom of this post.

I wasn’t going to comment on the recnt (and ironic) Jeff Bezos debacle, but yesterday a commenter on Cringly’s blog said: “Amazon has destroyed their business in one careless stroke. Once you lose the public trust, you never get it back.”

Although I think “destroyed” and “never” are too strong words, I share the sentiment, especially the part about violating trust (for example, violate my trust once and you’re out, with little chance of reinstatement).

Why is “destroyed” too strong a word?

Because, probably enough of Amazon’s customers don’t know or care about Bezos’ Orwellian, jack-booted thug maneuver or are not thoughtful enough to understand why it’s such a big deal.

Most of the people who do care might somehow punish Amazon a little, such as by going on a temporary buyer’s strike or writing a negative blog post (like this one), but they will probably come back to big bro Bezos and his website that knows more about you than you may know yourself.  The more you use Amazon, the more it learns about you, of course.  It’s the same, with Google, NetFlix, your credit/debit card purchases, mobile phone and location data, RFID chipped cards and passports, but all that’s another story. Reminds me, though, see this interesting Wired UK article: “The new hidden persuaders.”

So, why is this debacle so interesting?

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Why The Twitter Breach Is Bullish for Two-Factor Authentication

First, see these headlines and stories:

Now, ask yourself this?

Is having (good) two-factor authentication (TFA) on its Google Apps and Gmail accounts something that Twitter would pay for?  A GToken, perhaps, for each user?

Of course, it is.  And, to answer the begged question: Yes, TFA could have prevented this breach.  NEW: See “The Anatomy Of The Twitter Attack” and consider what would have happened if Twitter would have been using TFA (and it was required for password resets).

It’s the same with many other individuals and companies. In fact, if good TFA is easily accessible, it will become a requirement, not just the differentiator it is now. Companies who tell their customers, partners, investors, lenders, etc. that they use security best practices will have to use TFA.

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New Plan Ties College Loan Payments to Income

This is an important article for anyone who has student loan debt. The more your debt, and lower your imcome, the more important the article.

The new repayment option — the Income Based Repayment (IBR) plan — went into effect on July 1, 2009. It limits what borrowers have to pay to “15% of the difference between their gross income and 150% of federal poverty guidelines.”

What exactly that means, is up to your lender to determine, as I understand it. But it does appear that payments can be as low as $0.00. That’s bad, because interest accrues and is added to the outstanding balance, but it’s good because after borrowers “make payments on loans” for 25 years, the balance is forgiven.  (But what does “make payments on loans” mean?  What if those “payments” are $0.00?)

Bottom line is that everyone who feels burdened by their student loans should read this article, and its links, and figure out if this new plan is something for them. If it is, take action.

Problem is, how to figure all this stuff out? It may be so important, and complicated, that some people might want/need professional advice. That’s actually something I’ve long been interested in, but it’s been low on the priority list compared with my other projects. I would love to hear from any of you with the relevant knowledge, experience, and drive to setup a web- and phone-based business providing student loan consulting (in partnership with me). I’ve already got a good domain name: StudentLoanConsulting.com. I guess I could always sell or license that name as well. If you’re interested in any of this, just contact me.

Now on to the article:

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