Osama Bedier

Today in Tech: How Blockbuster lost to Netflix

May 27, 2011: 6:30 AM ET

Fortune's curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day. 

Google announced its much-speculated near field communications (NFC) payment system.

"The only meat I'm eating is from animals I've killed myself."
-- Facebook CEO Mark Zuckerberg (Fortune)

* NFC is here! After much speculation, Google finally announced Google Wallet, a mobile payment system that enables future Android smart phones (and Sprint's current Nexus S)  to be used for payments simply by swiping them in front of compatible readers. Expect the service to launch in San Francisco and New York this summer, followed by a national roll-out in the months following. (CNNMoney)

* PayPal is suing Google claiming that former PayPal exec Osama Bedier stole confidential company information and that current Google Commerce exec Stephanie Tilenius allegedly violated contractual obligations by recruiting him. (Reuters)

* Facebook released a statement in response to allegations from Paul Ceglia, a wood pellet salesman with a criminal record, who claimed that a 2003 contract with CEO Mark Zuckerberg gave him half of Zuck's multi-billion dollar company stake. "This lawsuit is a brazen and outrageous fraud on the court," Facebook said in the statement. "Plaintiff is an inveterate scam artist whose misconduct extends across decades and borders." (New York Times)

* Former Blockbuster CEO John Antioco on how the company realized too little too late and eventually lost out to Netflix. (Bloomberg TV via CNET)

* In light of David Einhorn's recent statements expressing dissatisfaction with Microsoft CEO Steve Ballmer's performance, the company's nine-person board, including Bill Gates, reportedly stand by their irrepressible leader. (Reuters)

* Why Machinima.com is a YouTube success. (Forbes)

Don't miss the latest tech news. Sign up now to get Today in Tech emailed to you each and every morning.

Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.