Welcome to Shopping Week

Buying, selling, shipping, shopping: Everything's complicated this holiday season, but there's room for innovation and change.

An open box with glowing interior

All this week on Protocol, we'll be diving into all the ways tech is changing the way we shop, buy and sell.

Image: Christopher T. Fong/Protocol

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You may have already noticed that this year's shopping season won't be like any other. Did you see the Black Friday deals start to hit your inbox in mid-September? Or did you watch the delivery date on your new TV or sofa slip a few days, then a few weeks, then a few months? Maybe you've noticed you're buying more stuff through Instagram ads than usual, or that your whole wardrobe seems to have come from that one livestream you watched the other day.

We're entering the largest shopping season of the year as we wind toward the holidays. Last year, Adobe found that in the five days from Thanksgiving to Cyber Monday, U.S. buyers put $34.4 billion worth of toys, gadgets, clothes and KitchenAids in their digital carts. Curbside pickup was one of the year's biggest innovations, and social media showed signs of becoming a shopping powerhouse.

This year? The only thing we know for sure is that it's going to be chaos. Chip shortages mean companies can't make enough stuff; supply-chain problems mean even the stuff they make gets stuck in a shipping container off the coast of Who Knows Where. Knockoffs are everywhere, fraud is rampant, and it's often impossible to know whether that 5-star review was bought and paid for. Discounts are down, out-of-stock messages are way up. The pandemic has changed the way stores operate, and in many cases shifted businesses more into digital-first operations. Can they keep up with the holiday rush? Can FedEx? Can anyone?

But amid all that upheaval, there's also innovation. Businesses around the world are beginning to rethink how they make, ship and sell products. New companies are springing up to create second-hand markets or to help repair things instead of just replacing them. Meanwhile, buyers are shopping in increasingly social, increasingly digital ways. (If you're not giving someone an NFT for the holidays this year, do you really even love them?) They're looking for new things to buy and new ways to pay. And hang on: Does anyone even care about Black Friday anymore?

All this week on Protocol, we'll be diving into all the ways tech is changing the way we shop, buy and sell. Because it takes an entire industry — or two or three — to get your gifts to your door on time.

Welcome to Shopping Week. And good luck out there.

Protocol | Fintech

Crypto wallet maker Ledger gears up for battle with Dorsey’s Block

CEO Pascal Gauthier wishes Block’s CEO were still distracted with Twitter, but he’s still gunning for the big opportunity in securely stashing customers’ coins.

Ledger CEO Pascal Gauthier talked about Ledger’s strategy in an interview with Protocol.

Photo: Ledger

Ledger CEO Pascal Gauthier reacted with an odd mix of excitement and fear to news that Jack Dorsey was leaving Twitter to focus full-time on Square.

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Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Signal at (510)731-8429.

In a tight labor market, businesses are competing for top talent, even as employees leave in droves. A record 4.4 million Americans resigned in September 2021 — the highest on record for nearly 20 years — ushering in what some call the Great Resignation. That same month, 65% of U.S. workers said they were looking for a new job.

Business leaders have to respond to mitigate the negative impacts of this disruptive churn, with 36% of CFOs saying they're very concerned about turnover remaining high indefinitely and weighing on revenue growth. The answers to this challenge should be informed by the root causes of employee dissatisfaction as well as retention drivers.

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Suneet Dua, PwC
As PwC’s US Products & Technology Chief Revenue and Growth Officer, Suneet Dua is responsible for driving more than $1 billion in product revenue and executing PwC’s product revenue strategy. He’s focused on driving innovation, delivering world-class, forward-thinking products and digitally upskilling the workforce and society at large. With 20+ years of technology, media and entertainment industry experience, he’s positioned as a catalyst for organizational transformation and delivers on the firm’s promise to solve the world’s most important problems. Additionally, he launched Salesforce and client-focused centers of excellence, such as our Cybersecurity centers in Israel, Singapore and India––all to improve the way PwC serves its clients. During his tenure as US Chief Product Leader, Suneet, and his team, played a critical role in designing and implementing digital tools that upskilled more than 55,000 of its US employees, which led to the development of PwC’s digital learning platform, ProEdge, that addresses the digital skills gap crisis facing today’s workforce. He also serves as a board member of PwC’s Trifecta Consulting (US, China, Japan and Mexico). Previously, Suneet served on PwC’s US leadership team and was Global Client Market Leader for PwC’s Global Network.
Protocol | Fintech

A legal brawl failed to uncover bitcoin’s fabled creator

Is Craig Wright Satoshi Nakamoto? A trial didn’t lead to an answer.

Craig Wright has claimed to be the creator of bitcoin.

Photo: Eugene Gologursky/Getty Images for CoinGeek

A legal battle was supposed to answer the biggest question in crypto: Who is Satoshi Nakamoto?

Well, that didn’t exactly happen. The identity of bitcoin’s fabled creator remains a mystery, despite high hopes that an unusual civil suit would lead to Nakamoto’s unmasking.

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Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Signal at (510)731-8429.

Snap CTO Bobby Murphy on embracing Apple’s AR glasses

Snap is building its own AR Spectacles, but the company also wants to embrace third-party devices.

Bobby Murphy wants Snap’s AR lenses to run everywhere — even on hardware made by competitors.

Photo: Getty Images for Snap Inc

Snap is all in on AR: The Snapchat maker has been building its own AR glasses, and is currently testing an early version with a small group of creators. Snap has also signed up 250,000 creators to build mobile-centric AR experiences through its Lens Studio platform, whose lenses have collectively been viewed over 3.5 trillion times.

Snap celebrated those milestones at its Lens Fest Tuesday, which the company also used to release a number of updates for both mobile and headworn AR. Snap CTO Bobby Murphy recently put that work in context in an interview with Protocol, in which he talked about the company’s progress in building AR Spectacles, why it isn’t focused on non-AR wearables anymore and why it ultimately also wants to build apps and experiences for AR devices made by its competitors.

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Janko Roettgers

Janko Roettgers (@jank0) is a senior reporter at Protocol, reporting on the shifting power dynamics between tech, media, and entertainment, including the impact of new technologies. Previously, Janko was Variety's first-ever technology writer in San Francisco, where he covered big tech and emerging technologies. He has reported for Gigaom, Frankfurter Rundschau, Berliner Zeitung, and ORF, among others. He has written three books on consumer cord-cutting and online music and co-edited an anthology on internet subcultures. He lives with his family in Oakland.

Discord launches paid channel memberships

The company’s new subscription tiers effectively broaden the creator economy to include people managing communities.

Select Discord server creators can start charging membership fees as part of a new pilot program.

Image: Discord

Creating and managing successful communities can be a lot of work. Now, Discord wants to make sure that the people doing this on its platform can also reap some rewards: The company launched a pilot program for premium memberships Tuesday that allows community creators to put parts or all of their servers behind a paywall.

“We want to make sure that running communities on Discord is more sustainable,” said Discord Engineering Director Sumeet Vaidya in an interview with Protocol.

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Janko Roettgers

Janko Roettgers (@jank0) is a senior reporter at Protocol, reporting on the shifting power dynamics between tech, media, and entertainment, including the impact of new technologies. Previously, Janko was Variety's first-ever technology writer in San Francisco, where he covered big tech and emerging technologies. He has reported for Gigaom, Frankfurter Rundschau, Berliner Zeitung, and ORF, among others. He has written three books on consumer cord-cutting and online music and co-edited an anthology on internet subcultures. He lives with his family in Oakland.

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