Chucking Money At UK Tech: Cisco’s Billion Dollar Bombshell

Chuck Robbins, the excellently named new CEO of multinational tech titan Cisco, swashbuckled into Downing Street today promising to spend $1 billion on UK tech over four years.

Cisco have latched onto the government’s pet buzzphrase internet of things”, or as Cisco’s PR handlers are calling it the “internet of everything” and have promised to plough $150m into any IoT focused start-up that moves. The investment isn’t to be sniffed at, but we’re still a long way from the tens of billions of VC money that floods Silicon Valley each year…

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Dr Alexander Kogan, the app developer who originally harvested the Facebook data, said…

“I think what Cambridge Analytica has tried to sell is magic and made claims this is incredibly accurate and it tells you everything there is to tell about you. But I think the reality is it’s not that. If you sit down and you really work through the statistics and you think what does a correlation of point three means, those claims quickly fall apart. And that’s something any person with a statistical background can go and do.”


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