FTC1914 – The Federal Trade Commission (FTC) is formed to regulate business in the US. President Wilson issued this to “Trust bust”. The FTC is controlled by a 5 member panel that serve in 7 year terms. They govern all fair trade practices.
Companies like Microsoft and IBM have been under the microscope with the FTC and the FCC.
This Day in Tech History podcast show notes for September 26 [dithzagg]
2006 – The book iWoz: from Computer Geek to Cult Icon: How I Invented the Personal Computer, Co-founded Apple and had Fun Doing it. (**WHEW!**) came out. It was a book that was written to dispel some of the rumors and misconceptions on many different items.
1998– In 3 years since it’s inception, eBay grew to be a powerful auction site. Therefore, eBay decided to go public. They offered 9 million shares on NASDAQ starting at $18 a share. When all is said and done, they closed the day at $47.375.
1999 – an ebay user (litterally) puts 500 pounds of Marijuana on the auction block. The auction itself hits up to 10 million dollars. eBay finds out and pulls down the auction, but it does say something for the power of illegal drugs over the internet.
2008 -Sarah Palin succumbed to a hacker in a different way – through her Yahoo! email. The infiltrator gained access by using common information to reset the password. David Kernell then posted her email and new password on 4chan.org under the alias “Rubico”. It showed that by using common information to set up an account, it could also turn into a “back door” for someone who would know that information.
1997– Microsoft purchased WebTV back in April for $425 Million. It didn’t take long for the Justice department to clear the purchase, so Microsoft geared down to integrate the WebTV machine. Today, Microsoft showed off the new and improved WebTV. Unfortunately, it was still using Dial up. Back in 97, broadband wasn’t a common thing in the house. Still, it would have been great for people that wanted to choose.By the way, you can still get a WebTV box.
2008– Napster has been trying to solidify their name since they went legit. They forged the way with music downloads in the 1990’s but struggled after.
Enter Best Buy. They saw the opportunity and laid down $121 Million for the company. Best Buy owned the service until 2011 when Napster merged with Rhapsody. Best Buy still has a minor stake in the music sharing software.
1973 – IBM had a suit filed in January of 1972 by Telex. They accused IBM of monopolizing the “plug compatible” equipment market. This included tape and disk drives, along with other add-on memories.
Judge Sherman Christensen hands down his 222 page verdict. He found that both Telex and IBM were guilty for the allegations waged against each other. Telex is awarded $350 million and IBM will be restrained in its ability to market its computer and software bundles. IBM, in turn, is awarded $22 million.
This suit began a witch hunt and other suits against IBM came up. CalComp, Memorex and Marshall Industries filed suits and won over 3 billion from Big blue.