Hashtag Trending July 19 – Social media buyer’s remorse; Netflix new fee; are video game loot boxes gambling?

Social media is causing buyer’s remorse, Netflix is testing a new fee for streaming from another location, and the UK excludes gaming loot boxes from its betting laws.

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That’s all the tech news that’s trending right now, welcome to Hashtag Trending. It’s Tuesday, July 19, and I’m your host, Tom Li.

A new study by Bankrate revealed that social media may be causing serious cases of buyer’s remorse. The survey study found that nearly half of users admitted to making an impulse purchase based on a sponsored post, and 64 per cent of them regretted at least one purchase. It’s not just about a lighter wallet; it’s no surprise, that social media also dampens consumer spirits. Nearly a third of social media users are more likely to feel negative about their financial situation than any other aspect of their lives. Almost half of Gen Z and millennials reported that they feel worse about their financial situations because of other people’s social media posts.

Source: Fortune

Netflix is testing a new way to reduce password sharing. The streaming platform is testing out a new fee that applies when accounts are connected outside of the primary household. Each additional “home” will cost around $1.17 a month in Argentina, and $3 in El Salvador, Guatemala, Honduras, and the Dominican Republic. Netflix explained that the fee would only apply to TV or TV-connected devices, and only if they’re connected for more than two weeks. Users can still watch on their laptops and smartphones outside of their primary residence without additional fees.

https://www.theverge.com/2022/7/18/23269063/netflix-home-password-account-sharing-latin-america-test

Are video game loot boxes considered gambling? The UK government doesn’t think so, at least not yet. According to the BBC, the UK government has excluded video game loot boxes from betting laws since the prizes do not hold real-world value. Still, the Gambling Commission said it will monitor the trading of loot box items in unlicensed gambling. Video game publishers have been pressed by the UK to take stronger measures to protect vulnerable adults, and the UK will be launching a video game research framework later this year.

Source: BBC

Apple is putting up a $2 million bounty to anyone who can break its new Lockdown protection mode. The new privacy mode is designed to harden iPhones against targeted cyberattacks. As the company puts it, Lockdown Mode offers an “extreme layer of security” at the cost of limited functions. Once enabled, Lockdown Mode disables most types of attachments, links previews in iMessage, and cuts wired connections to a computer when the iPhone is locked.

https://en.edieta.org/mobile/16574

That’s all the tech news that’s trending right now. Hashtag Trending is a part of the ITWC Podcast network. Add us to your Alexa Flash briefings or your Google Home daily briefing. Make sure to sign up for our Daily IT Wire newsletter to get all the news that matters directly in your inbox every day. Also, catch the next episode of Hashtag Tendances, our weekly Hashtag Trending episode in French, which drops every Thursday morning. If you have a suggestion or a tip, drop us a line in the comments or via email. Thank you for listening, I’m Tom Li.

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Jim Love, Chief Content Officer, IT World Canada
Tom Li
Tom Li
Telecommunication and consumer hardware are Tom's main beats at IT Business. He loves to talk about Canada's network infrastructure, semiconductor products, and of course, anything hot and new in the consumer technology space. You'll also occasionally see his name appended to articles on cloud, security, and SaaS-related news. If you're ever up for a lengthy discussion about the nuances of each of the above sectors or have an upcoming product that people will love, feel free to drop him a line at tli@itwc.ca.

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