Good afternoon, ECF-ers!
Trustbusters appear to be gunning for the Silicon Valley tech giants. PayPal opened its e-commerce platform to small businesses, and Shopify stealthily scooped up Handshake. Speaking of Shopify, who pulled their hair out Sunday during the Google Cloud outage?
In the News:
- Justice Department to handle antitrust oversight of Apple and Google, while the Federal Trade Commission will take on Facebook and Amazon
- House Judiciary Committee launches “top-to-bottom review” of possible anti-competitive behavior
- Tech stocks plunged Monday on the news of increased scrutiny
- Small businesses can use the same e-commerce infrastructure as Facebook and Instagram
- Includes access to PayPal’s backend tools and systems like fraud protection and dispute management
- Available first across the US, UK and Europe but will expand to other markets
- Google Cloud was down for about five hours on Sunday, June 2, due to “high levels of network congestion in the eastern USA”
- Outage affected sites that rely on the cloud infrastructure, including Shopify, Snapchat and YouTube
- (No, Shopify says it won’t compensate business owners for their losses)
- Anti-fraud rules that take effect in September require extra verification for purchases over €30
- Customers must approve a transaction with a texted code or fingerprint to complete purchases
- Amazon, Worldpay and Stripe say industry isn’t ready, putting billions of dollars in purchases at risk
- New York startup Handshake provides e-commerce platform for businesses that sell wholesale goods
- Team now operating as part of Shopify Plus
- Purchase price said to be less than $100 million
- Debuted the Mac Pro—its most powerful computer—for $6,000
- MacOS Catalina offers cross-platform apps; iOS 13 features dark mode and swipe typing
- So long, iTunes! Apple is splitting iTunes into Apple Music, Apple TV and Apple Podcasts
Top Forum Discussions:
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- Introducing the New Forums (Plus My Favorite Features)
- Meet Our New Community Manager
- Raised our Prices – So Far So Good
- Switching to Klaviyo. What’s the Best Way to Prune my Contacts?
- Big Media Companies Are Pivoting Into eCommerce Channels
Compelling Job Opportunities
- eCommerce Director | Common Thread Co – Full ownership over a portfolio of eCommerce companies while working for an incredible team. You even get your own dream therapist / counselor to meet with regularly!
- Paid Traffic Manager | Vallerret Photography Gloves – If you love photography almost as much as you enjoy geeking out about paid traffic this role is for you. Work from anywhere in the world.
New ECF Content:
- Investing In and Outside of eCommerce (Podcast)
- Talking WordPress, WooCommerce & Events With Chris Lema (Podcast)
- 5 Lessons From My Time at a Hedge Fund (Podcast)
- Takeaways From the 2019 State of the Merchant Report (Podcast)
- 2019 State of the Merchant Report (Blog Post)
An Interesting Read:
- This Young Investor’s Lucrative Passion: Collecting Million-Dollar, One-Person Businesses — Shakil Prasla’s portfolio includes 12 small internet brands that sold a combined $25 million in 2018.