Pay With Your Face? - Ripped From The Headlines, May 21, 2024
JP Morgan & Mastercard Back "Pay By Face" Tech, Americans Down On Economy Again, Klaus Schwab To Transition From WEF - Read, Share, & Subscribe - SherlocExposes.com
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“Automated fast food restaurant CaliExpress by Flippy, in Pasadena, Calif., opened in January to considerable hype due to its robot burger makers, but the restaurant launched with another, less heralded innovation: the ability to pay for your meal with your face.
CaliExpress uses a payment system from facial ID tech company PopID. To activate it, users register with a selfie. Then they can opt to be recognized and then PopID’s facial verification confirms the transaction.
It’s not the only fast-food chain to employ the technology. In January, Steak ’N Shake, a fast-casual restaurant in the Midwest, started installing facial recognition kiosks in its 300 locations for patron check-in. The chain says that using PopID takes two to three seconds compared with a check-in with a QR code or mobile app, which can take up to 20 seconds.
‘Our focus on biometrics as a secure way to verify identity, replacing the password with the person, is at the heart of our efforts in this area,’ said Dennis Gamiello, executive vice president of identity products and innovation at Mastercard. He added that based on positive feedback from the pilot and its research, the checkout technology will come to more new markets later this year.
As stores implement biometric technology for a variety of purposes, from payments to broader anti-theft systems, consumer blowback, and lawsuits, are rising. In March, an Illinois woman sued retailer Target for allegedly illegally collecting and storing her and other customers’ biometric data via facial recognition technology without their consent. Amazon and T-Mobile are also facing legal actions related to biometric technology.”
THINGS TO PONDER:
Regular readers of Ripped From The Headlines knew this was coming for a long, long time…
In the April 23, 2024 edition of the newsletter, we covered a story about an AI that could predict political orientations from your face:
“Researchers are warning that facial recognition technologies are ‘more threatening than previously thought’ and pose ‘serious challenges to privacy’ after a study found that artificial intelligence can be successful in predicting a person’s political orientation based on images of expressionless faces.
‘I think that people don’t realize how much they expose by simply putting a picture out there,’ said Kosinski, an associate professor of organizational behavior at Stanford University’s Graduate School of Business.”
Keeping that in mind, capturing your face to “speed up transactions” is going to give companies a level of insight on you that you really don’t want… even if it seems to be “for convenience.”
To better understand how this is currently being used on you, and how much more intrusive it will become in your everyday life, watch this video… your future depends on it.
Know Your Foe.
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“After a spurt of optimism, Americans are feeling a little more glum about the economy — again.
Consumer sentiment, a gauge of Americans’ economic perceptions, is at a six-month low, according to a closely watched index by the University of Michigan. The measure notched its biggest drop since 2021, reflecting the persistent tug of inflation on household budgets and fueling fears that rising prices, unemployment and interest rates could all worsen in the coming months.
That pessimism is altering consumers’ spending habits. McDonald’s, Home Depot, Under Armour and Starbucks all recently reported disappointing earnings, as people cut back on fast food, kitchen renovations, sneakers and afternoon lattes. Retail sales were flat in April after decent pickups in February and March. Meanwhile, Walmart reported a strong first quarter this week, nudged upward by high-income shoppers, executives said.
And gas prices, while easing in recent weeks, are up overall for the year, just ahead of the busy summer season.
‘For the last couple of years, the economy has been driven by household spending and now people are starting to say, ‘Let’s retrench here,’ said Jeffrey Roach, chief economist for LPL Financial. ‘The pressure from inflation has finally started to hit even upper-income households.’”
THINGS TO PONDER:
Stories like this are like a recurring nightmare of stagflation - that’s inflation combined with a stagnant economy - where they tell you things are bad, but they still have to throw in nonsense like this:
The economy, while still remarkably strong, has slowed in recent months as the Federal Reserve tries to get inflation under control. Employers are adding fewer jobs, wage growth has decelerated, and Americans are holding off on big purchases like homes, cars and washing machines.
People don’t trust modern media because they mix lies into stories based on the needs of their handlers…
The economy isn’t “remarkably strong” - but the Washington Post wants you to think that it is.
Why?
That’s the right question.
Remember the rule: If you want to know what won’t be talked about in the news, watch the commercials.
Know Your Foe.
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“World Economic Forum founder and executive chairman Klaus Schwab will be stepping back from his role running the global gathering since he founded it in 1971.
He will be stepping down as executive chairman and transitioning to a role as non-executive chairman, he said, adding the change in his role is pending approval by the Swiss government but should be finalized ahead of the WEF’s annual meeting in 2025.
Schwab has not named his successor, but said that over the last year, the group’s executive board, ‘under the leadership of President Børge Brende, has taken full executive responsibility.’ Brende is a former Norwegian conservative leader.
The Forum operates much like a family business, with Schwab’s children appointed to high-ranking positions and his wife Hilde heading the organization’s foundation and awards ceremonies in Davos.
Succession at the WEF has been the subject of fevered speculation, and a Politico article floating possible names roiled the gathering in 2023.
The Forum has also been navigating a difficult political landscape, and has steered back toward the center in recent years after embracing progressive directions in culture and finance.
The WEF, though a nonprofit, is a remarkable business: The organization brought in nearly $500 million in revenue in the year ending March 2023, and had a neat 200 million Swiss francs sitting in cash, Semafor reported last year.
THINGS TO PONDER:
We’re wondering out loud how fast the real plans that the WEF has in mind will accelerate now that Dr. Evil is trying to step down…
Also, note that he needs the permission of the Swiss government to change his role…
This, combined with $500 million in revenue, makes you wonder about what in the hades is actually going on with the World Economic Forum…
Or, maybe it’s just what we’ve been saying:
It’s a totalitarian elitist organization that is designed to set and execute narratives that the masses of humanity will follow… ultimately leading to their demise.
PS: Here’s a snapshot of the guy who’s taken over the day-to-day drifting:
Meet the new boss, same as the old boss.
Know Your Foe.
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