1999 – It was over 12 years that we saw Microsoft go through the Department of Justice over Monopoly issues. US district Judge Thomas Penfield Jackson issued a 207 page Findings of fact on this day. In it, he ruled that Microsoft did have a Monopoly power over the OS in the Intel market. During the week we talked about what leads up to this 207 page ruling.
The paper was called “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto. It was posted to a cryptography mailing list. This was a roadmap to the creation of the crypto-currency, which officially launched on January 3, 2009.
The Abstract:
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
The domain name “Bitcoin.org” was registered on August 18th. Since then, this premiere currency has seen some volitile transactions, jumping up to as high as $15,000.
1999– Priceline filed a lawsuit against Microsoft and its Expedia travel service. The suit outlined how they violated U.S. patent number 5,794,207, “Method and Apparatus for a Cryptographically Assisted Network System Designed to Facilitate Buyer-Driven Conditional Purchase Offers.” The two sites come to terms in 2001, in where Microsoft pays a fine.
1991– The second lawsuit of Apple vs. Apple was settled: Apple computers vs. Apple records (the Beatles label). The suit was about producing music. Of course there was a fine line between the lawsuit – after all Apple Computers is in the computer business and Apple Records was in the music making business.
Nonetheless, the record label felt that Apple computer was starting to infringe on their turf, so they decided to make the attack. This issue went on a few times, later in the form of iTunes and the iPod.
1997– MCI was under a bid to be purchased by British Telecommunications. Worldcom came in and outbid BT to snag up the company. What made this the coup de grace is it would make Worldcom the #2 telecom provider, under AT&T. The $37 Billion dollar merger would finalize on November 10th. Then, September 1998 – MCI Worldcom would officially launch. This all crumbled in 2002 when Worldcom filed for bankruptcy.
I was an employee of Worldcom and had been since its original namesake LDDS. At the time we were awestruck.
2011 – Netflix CEO Reed Hastings made one of the biggest blunders of 2011 when he announced not only was the DVD section of Netflix getting a new name, but also that section was up for sale. Qwikster brought a lot of attention rapidly for two reasons – 1. It was close to Amway’s spin-off Quixster, and 2. Qwikster used to be the twitter handle of a pot-smoking Elmo character. Since then, Hastings apologized and the company reeled back the statement. However, it was not before they lost 2/3 of their stock and over 800,000 subscribers. Currently, their stock is at $57 a share (from $295 back in July 2011).
1995 – The National Cash Register Company (NCR) Started in 1884 with Point of Sales registers. The company deals in all types of POS, but had financial problems. In 1991, AT&T purchased NCR for $7.4 billion. NCR has been the only AT&T acquisition that retained their original name. on Sept. 201995 AT&T would spin NCR back into it’s own company due to the antitrust issues put forward
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.
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.