From the Silicon Valley startup that won a $750 million government contract to Generation Z changing the face of consumer products, this is what’s happening in the news this week.
For a $750 million contract, there’s bound to be tough competition. Tanium, a cybersecurity startup valued at over $5 billion won the contract, but the process is now under investigation to determine if the proper processes have been followed. Tanium made a statement saying they were not involved in the audit, as it was an internal government audit that reviewed the procurement processes in place, not the vendor role in the process. Meanwhile, the department’s Inspector General has only commented that the investigation is ongoing.
Lawyer and activist Max Schrems has long been involved in privacy regulations for larger tech companies, and with the GDPR now in regulation, he filed an official complaint against Facebook and Google. Schrems said in his statement the companies were blocking people who did not agree to the terms. Spokespeople for Facebook and Google both said they’d been preparing for a long time to ensure all the necessary requirements were met for the GDPR, including making the policies clearer and easier for customers to understand. The complaint has been passed along to the data protection authorities in a number of different European countries, where it remains to be seen what will happen. For the time being however, the complaint proves that maintaining compliance across the globe remains an important part of business.
In more Facebook news, some people say that Generation Z is not using Facebook as much as other generations. Gen Z prefers Instagram (which is still good news for Facebook, as they own the brand) and Snapchat. Just as many claim Millennials have hurt the diamond and napkin industries, among others, Gen Z is now being blamed for hurting the sales of department stores, cable TV, and anything made of paper, among other things. This shift in interests shows how the world of business is changing. Companies that pay attention to these new trends and keeping up thrive, while businesses that aren’t adapting are becoming less and less popular among the younger generations. More and more the younger generations are working and consuming products through digital methods, whether it be online shopping or digital book readers, driving business away from manual processes.
Staying in touch with the latest in business, whether it’s the GDPR or Gen Z’s interest in brands, is critical to success. Companies should be using the right tools and processes to help maintain the speed, compliance, and scalability that will help them move into the future.