Apple China Tariffs, Libra Crypto, and Email Replacement in the Workplace

The Latest on Apple and the China Tariffs

With the potential tariff hike looming, major companies, including Apple, are looking for production options outside of China. While it would take months for such large-scale production to be shifted to a new location, it’s possible that the new iPhones slated for release later this fall could be impacted, which means they might be even pricier than past models.

According to one of Apple’s major suppliers, Foxconn, it would be possible for iPhones to be built outside of China and still keep up with global demand. But, whether or not consumers would remain loyal to a more expensive product with so many other options available is difficult to determine.

Just how much more expensive would the new built-outside-of-China iPhones be? While we don’t know for sure, a recent release from J.P. Morgan estimates that Apple would need to “increase iPhone prices around 14% to offset the impact of tariffs”, which would mean that the price increase for phones produced outside of China is likely to be less. But, just how much less is hard to tell.

What You Need to Know About Libra Cryptocurrency

Just this week Facebook announced its plan for launching a new cryptocurrency next year, which has had the whole digital world buzzing. Dubbed “Libra”, this cryptocurrency has been in the works for sometime, with some major hints being dropped over the last couple years.

Hoping to be the currency of the future, Facebook’s official summary of Libra announced that it will be “a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology”. Furthermore, Libra will allow people “to send, receive, spend, and secure their money, enabling a more inclusive global financial system”.

And while cryptocurrency in general has had its fair share of ups and downs, there’s good reason to believe that Libra will be the game-changing addition much of the world has been waiting for. Not only does Facebook have one of the biggest user bases in the world (2.3 billion and counting), but it has built a platform designed to engage individuals, making Libra a much easier sell.

Once Libra launches, it’s likely that it will become the first broadly accepted Western digital currency, especially considering its plans to be “backed by real assets”, which means it will be much less volatile than other cryptocurrencies currently in use. Known as a “stablecoin”, Facebook has told the Wall Street Journal that it is developing a coin that will be backed by government currencies.

If everything goes as planned for Libra, it’s looking like 2020 might just be the year that all businesses, small and large, start to accept cryptocurrency as payment.

Is Replacing Email with Workplace Messaging a Smart Move?

With Slack the next big company going public, it’s safe to assume that the way we communicate at work is destined to change. In fact, for many companies, it has already shifted because of messaging platforms like Slack. But, how should companies really be using workplace messaging? Is it better than email? Does it make employees and management too available?

Currently valued at more than $7 billion (and counting), Slack has more than 10 million daily users, demonstrating its popularity and, perhaps, its necessity. Coined the antidote to “bloated inboxes everywhere”, Slack really can be a great solution, allowing teams to see instant updates on projects or to stay connected from virtual offices. According to Shannon Todesca, an engineer for the online store CarGurus, workplace messaging helps the team “keep track of code pushes” and system errors. In some workspaces, this type of messaging allows for distinct channels to be made - like a #ooo (out of office) channel that is used to track appointments and sick days.

In general, companies and employees that love platforms like Slack tend to be in the tech world, are young, and appreciate the ability to be transparent. Those who aren’t ready to embrace workplace messaging are, on the other hand, concerned with privacy and productivity.

For companies wanting to make a system like Slack work, it’s important to create and share a strategy, which includes some workplace rules. For example, some forward-thinking companies that use Slack exclusively, they have completely banned in-office emails. Furthermore, the only direct messages to management allowed are for health and personal issues - and no private channels, ever.