Grind for November 3rd
“Everyone has his day and some days last longer than others.”
– Winston Churchill
Chile cancels trade and climate summits amid anti-government protests
Chilean President Sebastian Pinera has canceled plans to host a November summit of nations from the Asia-Pacific Economic Cooperation (APEC) and a UN climate change conference (COP25) in December.
US President Donald Trump and Chinese President Xi Jinping had been hoping to use the APEC summit as an opportunity to sign a “phase one” trade agreement.
The deal reportedly includes large purchases of US agricultural products by China, rules to prevent IP theft, and incentives to deter currency manipulation.
The cancellations come amid a state of emergency in Chile following weeks of violent protests that have resulted in several deaths and significant property damage.
“This is a very difficult decision that has caused us a lot of pain because we understand the importance that APEC and the COP have for Chile and for the world,” laments Piñera. “But as president of all Chileans I always have to put the problems and interests of the Chileans, their needs, their desires, and their hopes first.”
The protests were sparked by a price increase for Santiago’s subway system and have continued despite Piñera’s decision to cancel the increase.
Over the past two weeks, more than 1 million Chileans have taken to the streets to protest income inequality.
Pinera responded by increasing the minimum wage, improving pensions, and firing several hardline cabinet members, but protestors are demanding a full replacement of the country’s constitution.
In the meantime, negotiators in the US and China are under pressure to finalize a deal by December 15th, when new tariffs will be applied to cellphones, apparel, and other consumer goods from China.
Sony cancels its unpopular streaming service “Vue”
Did you know Sony had a streaming service? I sure didn’t.
Sony launched “Playstation Vue” in 2015. Unlike Netflix, which offers original content, Vue functioned as a digital version of cable TV.
Vue cost subscribers $50 a month – nearly 8x the cost of your basic Hulu package.
“The highly competitive Pay TV industry, with expensive content and network deals, has been slower to change than we expected,” said Sony in a statement.
Sony believed its digital TV bundle would appeal to PlayStation owners who wanted to watch live TV and save money, but things didn’t work out that way.
Instead of buying cable alternatives like Vue, consumers flocked to services that advertised new content and on-demand viewing.
As Sony bows out of the industry, Disney, Apple, and Warner Media are preparing to launch new streaming services that are expected to cost just $5 a month (at least in the beginning).
GOOD TO THE LAST DROP:
Did you know… Grand Theft Auto was originally a racing game called Race’n’Chase. However, a glitch made the police cars go crazy, ramming the player. This glitch was so popular with testers that they rebuilt the game around it, creating GTA.