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06.24.16 | 5:28 am

Here’s all the latest news on Brexit

Most of it isn't pretty:

Global markets remain down, with the Dow Jones Industrial Average down about 460 points, or 2.5%, and the Nasdaq down more than 3%. Gold prices, on the other hand, are up about 4.5%, and bitcoin prices have risen 2.8%.

• The Stoxx Europe 600 index closed down more than 7 percent, in the worst one-day European stock drop since 2008, MarketWatch reports. London markets closed down for the day as well, with the FTSE 100 index down 2.76%. 

Central banks around the world have taken steps to calm markets, with the Federal Reserve saying it's "prepared to provide dollar liquidity" and the Bank of England and European Central Bank issuing similar statements.

• Hopes that the U.K. government could somehow avert or delay the nation's exit from the European Union seem to have dimmed, with EU Parliament President Martin Schulz calling for the U.K. to leave as soon as possible, The Guardian reports.

Donald Trump, visiting Scotland, has praised the referendum result, which onetime rival Ted Cruz called "a wake-up call for internationalist bureaucrats from Brussels to D.C." Hillary Clinton has expressed concern about the impact on working families around the globe.

• Former London mayor, and prominent Brexit supporter, Boris Johnson could be a serious candidate to succeed Prime Minister David Cameron, MarketWatch reports.

Economists, known for supporting free trade agreements in general, have generally come out against Brexit so far.

• In a possible sign that voters didn't fully understand Brexit's meaning, "What is the EU?" has become the second-most-Googled post-Brexit question in the U.K.

Scotland, which voted 62% to 38% to stay within the EU, may seek to secede from the U.K. in order to do so, First Minister Nicola Sturgeon says, according to the BBC.

Spain, which has long claimed sovereignty over Gibraltar and is a major trading partner of the U.K. island territory, has proposed a joint sovereignty agreement after more than 95% of the territory voted to stay in the EU, the BBC reports

• While prominent banks like HSBC and JPMorgan Chase had warned Brexit would lead to reduced staffing in London, they've been less open about their plans as they reassure workers after the vote.

This post has been updated. The original post was published this morning at 5:28am EST.

U.K. Prime Minister David Cameron, who called for the referendum, has announced his resignation. He will stay in office until October when a new head of the Tory government will be selected.

David Cameron has not yet invoked Article 50 of the Treaty of Lisbon, which begins the official steps of leaving the EU. Cameron has said it will be up to his successor to invoke Article 50.

The White House has acknowledged that President Obama has been briefed on the referendum vote and they "expect the President will have an opportunity to speak to Prime Minister Cameron over the course of the next day, and we will release further comment as soon as appropriate, reports USA Today." 

• With a majority in Scotland having voted to remain in the EU in the U.K. referendum, Scotland's first minister, Nicola Sturgeon, now says that a second Scottish independence referendum is "highly likely". Earlier she said: "The vote makes clear the people of Scotland see their future as part of the European Union."

• Scotland might not be the only one to leave the U.K. Sinn Fein has announced it wants a vote on Irish reunification in the wake of a Brexit. If Northern Ireland reunifies with Ireland, it will stay part of the EU. A statement from the party said: "The British government has forfeited any mandate to represent economic or political interests of people in Northern Ireland"

• It's not just David Cameron who will soon be out of a job. Labour leader Jeremy Corbyn could face a leadership challenge as well. Many people blame his lackluster Remain efforts for the reason that Labour voters didn't turn out in droves to support the Remain camp.

Bank of England governor Mark Carney has tried to reassure the markets by announcing it will make an extra £250 billion available to the banks to try to help steady the markets.

• Speaking of the markets, at the time of this writing the FTSE 100 is down almost 5%, wiping over £100 billion off the market.

• The FTSE 250 is down 11.4%—its worst drop ever.

• Germany's DAX has fallen 7.5%.

• France's CAC 40 is down 9%.

 Italian and Spanish markets are plunging more than 11%.

Japan's Nikkei is having its worst day in 5 years with the Japanese market falling an astonishing 8% so far.

The British pound has hit a 30-year low against the US dollar.

• In a matter of hours after the referendum result was announced, the U.K. has slipped from being the 5th-largest economy in the world, to being the 6th largest. France has now surpassed it.

Leave campaigner and former London Mayor Boris Johnson left his house this morning under heavy police protection with protesters shouting "shame" at him for leading the U.K. to leave the EU:

• Bank and homebuilder stocks are taking the biggest hit, due to the belief that the British economy is in free-fall.

• A number of economists suggest that the U.K. will now enter a recession.

On social media, there is an outpouring of anger by young people towards their own parents and grandparents:

With Londoners overwhelmingly voting to stay in the EU, many are now taking to social media to demand that the capital secede from the U.K. so it can stay part of the EU.

[Image: Bill Smith]

09.24.16 | 10:59 am

Snapchat changes name to Snap, unveils first hardware: Spectacles video-sharing sunglasses

Snapchat CEO Evan Spiegel just dropped two bombshells—changing the company's name to Snap, Inc. and unveiling the company's first bit of hardware: Spectacles, video-sharing sunglasses, available this fall for $129.99 in black, tea, or coral. How do they work? When you press a button close to the hinge, the glasses record up to 10 seconds of video. The camera uses a 115-degree-angle lens, which is wider than most smartphone lenses and is closer to our eyes' natural field of view, explains the Wall Street Journal.

And why launch such a product [insert obligatory Google Glasses joke here]? Spiegel has a quick answer: "Because it's fun."

Spiegel waxes rhapsodic when telling the WSJ about testing a prototype of Spectacles while hiking with his supermodel fiancée, Miranda Kerr:

It was our first vacation, and we went to Big Sur for a day or two. We were walking through the woods, stepping over logs, looking up at the beautiful trees. And when I got the footage back and watched it, I could see my own memory, through my own eyes—it was unbelievable. It's one thing to see images of an experience you had, but it's another thing to have an experience of the experience. It was the closest I'd ever come to feeling like I was there again.

09.24.16 | 9:57 am

Stories to read this weekend

• The New York Times's BlackRock story from last weekend has one of the best interview moments I've read in a long time. – Ainsley O'Connell, At BlackRock, Shaping The Shifts In Power 

So Is Writing A Job Or Not? (The Awl, recommended by Claire Dodson)

How the FDA Manipulates the Media (Scientific American, recommended by Cale Weissman)

• Denis Johnson, who wrote the short classic Jesus's Son, wrote a ton of longform journalism in the 1990s, and this book collects it. Among the amazing pieces is one about traveling to Liberia for the New Yorker to interview the dictator Robert Johnson. But he never gets to meet Johnson, The New Yorker kills the piece, and he recounts the whole ordeal in Harper's. Is like "Frank Sinatra Has a Cold" except Frank Sinatra is a mass murderer. There's also this beautiful essay about doing drugs for the first time in 30 years (Johnson's addict years were fodder for Jesus's Son), in which he describes mushrooms as "Bugs Bunny shooting you in the head with a rainbow." It's pretty wonderful. Highly recommended. — Cliff KuangSeek: Reports from the Edges of America & Beyond

[La Lecture au Cafe, by Alexandre-Auguste Hannotiau]

09.24.16 | 9:19 am

We asked top advertising execs what they thought of Hillary Clinton’s newest ad

Yesterday, the Hillary Clinton campaign launched a new commercial that edited together images of young girls looking in the mirror, with quotes and video of Donald Trump talking about women, then asking if Trump is the president we want for our daughters. 

We decided to ask advertising executives what they thought of the commercial as a piece of marketing. 

Keith Cartwright, executive creative director at Butler, Shine, Stern & Partners: "It's not about policy it's about morality, which I think is her biggest play against Trump. To hit his character stretches her campaign beyond party lines allowing Hillary to speak to her base while attracting the undecided. This ad plays to that huge contingency of voters who struggle with whether or not Donald Trump has the moral fiber to represent our country as President. It may be her best ad to date. "

Margaret Johnson, chief creative officer at Goodby Silverstein & Partners: "This is powerful because it's scary. As a mother, I never want my son to speak about women that way and I would never want my daughter to question the way she looks. For anyone who cares about kids, which is everyone, this ad should stop them from making a big mistake in November."

09.23.16 | 10:10 pm

Palmer Luckey “sorry” for harming Oculus’ reputation, says he’s just funder of anti-Hillary meme org

Oculus founder Palmer Luckey this evening acknowledged he had given $10,000 to a group that creates pro-Donald Trump, anti-Hillary memes known as "shitposts," and apologized for "negatively impacting the perception of Oculus and its partners."

He added that his perception of media stories about the situation "do not accurately represent my views."

If that's true, it must be noted that that's in part due to his and Facebook's silence on the matter, other than telling some news organizations that Luckey was still an Oculus employee, for a full day after The Daily Beast first broke the story. To be sure, Luckey himself did maintain in that Daily Beast article that he was only the "money man" for the organization, known as Nimble America."

But Luckey said in his Facebook post this evening that while he "thought the organization had fresh ideas on how to communicate with young voters through the use of several billboards," he wasn't the group's founder. In fact, though the group, Nimble America, appears to be pro-Trump, Luckey said he plans on voting for Libertarian presidential nominee Gary Johnson.

"I am committed to the principles of fair play and equal treatment. I did not write the 'NimbleRichMan' posts, nor did I delete the account. Reports that I am a founder or employee of Nimble America are false. I don't have any plans to donate beyond what I have already given to Nimble America.

"Still, my actions were my own and do not represent Oculus. I'm sorry for the impact my actions are having on the community."

09.23.16 | 6:03 pm

And now straight from Media Twitter, here are the best Chris Ziegler-Apple tweets

Not that any context is needed, but in case you haven't heard, an editor at the Verge allegedly took a job at Apple without bothering to tell the Verge. Clearly we don't know the whole story here, but Twitter can always be counted on for weighing in, especially when the story involves media. Or tech. Or in this case both:


09.23.16 | 4:52 pm

One of the Verge’s top editors secretly worked at Apple for two months

Here's a doozy of a story: Chris Ziegler, a founding member and editor of the Verge, began working at Apple in July. One problem, however: He still worked at the tech-news website and didn't tell his colleagues. 

According to a blog post written by the site's editor-in-chief, Nilay Patel, Ziegler accepted the role at Apple in July and continued working at the Verge. In August, Ziegler stopped being in contact with people at the site, which is what led them to discover his dual employment. His position at the Verge was terminated this month.

Patel writes that the site performed an independent review to snuff out any conflicts of interest. So far they've found nothing questionable editorially. 

You can read Patel's blog post here, delivered on a Friday afternoon, of course, for minimum exposure.

09.23.16 | 4:33 pm

VR developers threaten Oculus boycott unless Palmer Luckey resigns

Things just keep getting worse for Oculus.

A day after revelations that founder Palmer Luckey has allegedly been funding a pro-Trump/anti-Hillary "shitposting" meme factory, a number of of virtual reality developers are expressing anger at, or saying they will boycott, the Facebook-owned Oculus unless Luckey resigns.

"Insomniac Games condemns all forms of hate speech," Motherboard quoted the console games maker as saying. "While everyone has a right to express his or her political opinion, the behavior and sentiments reported do not reflect the values of our company. We are also confident that this behavior and sentiment does not reflect the values of the many Oculus employees we work with on a daily basis."

Others, too, have stood up to denounce Luckey's actions. Among them: NewtonVR, Polytron, Tower Underworld Online, and others, Motherboard noted. No doubt many developers will continue to support Oculus, however. Still, while Luckey is of course within his rights to support any cause he desires, it's worth questioning how much damage his positions will do to the company's fortunes given the furor they've caused in the last 24 hours. 

Oculus representatives did not immediately respond to a Fast Company request for comment.

09.23.16 | 3:46 pm

FDA to mobile health community: “Help us be a partner”

Federal regulators are not particularly well liked by many in Silicon Valley. The FDA is often described as a "roadblock" or a "big bad wolf" in the press, and viewed as an enemy to the explosive growth of so-called innovative medical startups. 

But FDA's Bakul Patel, the agency's ‎associate center director for digital health, is no stranger to health conferences frequented by startup founders. At USC's Body Computing conference today, he provided some clarity in noting that the agency is most concerned with ensuring that the health data analyzed by companies is accurate (not just the step counts themselves). 

He also shared that the agency is coming up with a "new paradigm" to accommodate mobile medical apps that make updates every few weeks. 

Finally, he asked for startups to get involved with the agency as it adapts. "Help FDA be a partner in this journey," he urged. 

09.23.16 | 3:34 pm

Report: Trump aide met with Russian official who collects intel on U.S. election

One of Donald Trump's foreign policy advisers, Carter Page, has been communicating with senior Russian officials "including talks about the possible lifting of economic sanctions if the Republican nominee becomes president," sources tell Yahoo News's Michael Isikoff. Page, a former investment banker who currently leads Global Energy Capital, a consulting firm that focuses on oil and gas deals in Russia, reportedly met with Putin associates during several trips to Moscow. Among them was Igor Diveykin, Russia's deputy chief for internal policy who is responsible "for intelligence collected by Russian agencies about the U.S. election," a source tells Isikoff.

09.23.16 | 3:08 pm

Wife of Keith Scott recorded video of deadly encounter with Charlotte police

"He doesn't have a gun," Rakeyia Scott says to Charlotte police in video footage she filmed before and after officers shot and killed her husband, who had been sitting in a parked car outside of their apartment complex. "He has a T.B.I."

The video, which Scott's family provided to The New York Times, shows Rakeyia Scott trying to defuse the tense scene, explaining to police that Scott had suffered a traumatic brain injury. "He is not going to do anything to you guys," she yells. "He just took his medicine." The footage does not show the actual shooting, doing little to quell the mounting pressure for Charlotte police to release their own footage of the incident.

"He better fucking live," Rakeyia Scott says after the gunfire.

The video is eerily similar to footage of the July police shooting of Philando Castile's death, which was streamed to Facebook Live by his girlfriend, Diamond Reynolds. "Please don't tell me he's dead," Reynolds said, as an officer stood outside Castile's car window, gun still pointed.

09.23.16 | 3:05 pm

Samsung: About half of Galaxy Note 7 phones in the U.S. have been replaced

The Korean company sent a note to media today saying roughly half of the Galaxy Note 7 phones sold in the U.S. have now been exchanged through "Samsung's voluntary recall." Samsung began asking customers to return their Note 7s after 35 of them reportedly blew up due to a faulty battery. 

The company adds that 90% of Note 7 owners have been opted to get another Note 7 phone, rather than some other Samsung device. 

Samsung is said to have rushed its premium Note 7 to market because it felt the phone held an advantage over the iPhone 7. Samsung has not commented on that allegation. Samsung's "exchange program" began in early September. The new iPhone 7 and 7 Plus were announced September 7. 

09.23.16 | 3:03 pm

This exists: Eyeglasses that double as a step-tracker

I'm down in Los Angeles for the USC Body Computing conference, which showcases some of the latest advancements in digital health. 

One particularly intriguing product incorporates a step-tracking sensor into a pair of glasses. The device, known as Level, also includes a cool feature called "Find Your Glasses," which I'm told is extremely popular. The idea behind the connected glasses is that it's easy enough to forget to wear a smartwatch, but those who need glasses won't leave the house without them. The downside is that it's not ideal for those who don't wear glasses, or wear glasses and contact lenses intermittently (myself included). The glasses are the brainchild of the innovation lab of VSP, a vision care health insurance company.

The company recently kicked off an academic study at USC to test whether this technology is helping users meet their activity goals. I'll keep you posted on how the study unfolds.