This month’s roundup of news from the technology sector includes 2020 consumer tech trends; California’s new data privacy law and more.
Hotel News Now’s Tech Impact Report each month features a news roundup from the hotel technology sector. Subscribe to the free monthly report here.
California data laws in effect
The long-anticipated California Consumer Privacy Act has gone in to effect with the start of the new year, and it’s enforcement is expected to “go a long way to determining whether the 2020s become the decade when the U.S. starts taking privacy seriously,” Wired reports.
The regulations apply to companies that operate in California and either make $25 million or more in annual revenue, gather data on more than 50,000 users or make more than half of its revenue from user data, the news outlet reports.
Tech IPOs facing scrutiny
Despite the strong overall market, tech companies that went public in 2019 were down significantly from their first-day opening prices at the end of the year, The Wall Street Journal reports. Uber Technologies, Lyft and Slack Technologies were down an average of 40%.
The newspaper notes that this is due to “the growing reluctance among public investors to accept inflated private market valuations,” specifically tied to the issues at co-working company WeWork. Airbnb is expected to launch an initial public offering at some point, although the drop in recently launched tech stocks have slowed the pace of tech IPOs.
Consumer tech trends for 2020
The top consumer tech trends for 2020 include great home automation, particularly with voice assistants, the rise of 5G, an increased adoption of wearable technology and increasing prevalence for streaming media, The New York Times reports.
“The biggest thing is connected everything,” Carolina Milanesi, a technology analyst for the research firm Creative Strategies, told The Times. “Anything in the home — we’ll have more cameras, more mics, more sensors.”
Compiled by Sean McCracken.