Overall, it is much easier to invest in a publicly traded firm than a privately-held company. Extremely Insecure. If more people took a little pain instead of a few seconds convenience that in reality becomes a life times inconvenience, then the business models of those “Tech Gulag Commandants” would not just fail they would go bankrupt as well which is more than fine with me. Here’s a summary of what can happen to stock … November 14, 2020 9:59 AM. Under Chapter 11 bankruptcy, there is slightly more hope that the company can survive and your stock … They need a own-controlled-data-filter-stripper to starve the the system. So, trusting the provider all the way, hm? Therefore they did what the rights of ownership alowed them to do “Evict rule breakers”. It depends on the Pod Provider. All of your data will not necessarily be in one place, since you can store pieces of data across several Pods. So Lin Wood for instance could loose any assets owned and assets shared if the court believes there has been an attempt by Lin Wood to reduce losses. If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. The stock may be delisted on the major stock exchanges, and a Q may … November 21, 2020 3:45 PM. It’s yours. (c) 2020 ETRADE Securities LLC, Member FINRA (http://www.finra.org) /SIPC (http://www.sipc.org). Building … But that’s not profitable enough. And who knows where they found the cheapest hosting; and who knows what else they outsource, or to whom; and who knows what is in their contracts with their investors — do I need to go on? In most instances, the company's plan of reorganization will cancel the existing equity shares. Yes. A few powerful entities control virtually the entire internet now. Thus any shareholder in those system owning companies who has seen “their value” reduced can seek via legal process to cease any and all assets upto a legaly acceptable multiple of the harms caused expressed in a monetary value. All rights reserved. There is a security/privacy issue for which the pod appears to be a worse solution than a data silo such as Facebook. By clicking Authorize, any app from https://noeldemartin.github.io will be able to: [*] Read all documents in the Pod Since this is “mad money”, you might instead elect to invest that money into the stock … TRX • 2) The “pods” have to be hosted somewhere that is not under my full control. I would need to be convinced that security of the pod exceeded anything hitherto available to be willing to entrust everything to it. January 27, 2021 12:37 PM. I also do not take my phone shopping or for much else. And I assume some kind of user-end GUI to make it easier? Why do Android phones mysteriously exchange 260MB a month with Google via cellular data when they’re not even in use? Rj • Your data is no longer in a bazillion places on the Internet, controlled by you-have-no-idea-who. I personally don’t use Email let alone social networking. said:’This brings up a question about what “control” actually means. RK • I logged-in, gave myself an account, and it reminded me of the old computer dial-up screens. Either way makes me sad. Easton • @RK Of course you are correct, but obviously this only makes pod security worse! So now your insurance company has A COPY OF your data. Each trade settles in 2 business days, so you'll be late paying for stock X, which you bought on Monday. Not even mentioning any kind of client-side encryption to ensure the provider does not get access. There are a LOT of “…MUST…” and “…MUST NOT…” statements, but the whole thing starts off with “Some of the normative references with this specification point to documents with a Living Standard or Draft status, meaning their contents can still change over time. These plans were originally conceived generations ago as a way for businesses to let smaller investors buy … Is the pod an actual physical thing that resides on my premises fully under my control or is it a cloud service blob hosted by the company? What Happens When Stocks Go Down? Maybe AOL like my brother had. It concerns the privacy of the individual consumers of your data. So I try to minimize that way. Here are 5 important things to know about trading shares of a Chapter 11 bankruptcy company. It seems to me that a “pod” is a sort of personal cloud to which you entrust ALL your data. © 2021 TheStreet, Inc. All rights reserved. If so how do warrants/etc. As such it becomes a single point of failure in security terms. November 16, 2020 11:06 AM. Not sure what the prosecution time limits are but they are likely to be atleast seven years. Any salesman that came to my office pitching that, I’d be reaching for the flyswatter. November 13, 2020 2:32 PM. This personal website expresses the opinions of none of those organizations. You authorize granular access to that pod to whoever you want for whatever reason you want. Public stock markets list only public companies — that went through an IPO — usually long after they've experienced their most aggressive growth. 4) What is the impetus for companies to pay for this service? The history of DRM shows technological approaches are fraught with difficulty. It seems the road to usable implementations in a long on. Commercial providers of pods will compete on features, and this will make it hard for them not to offer everything of which the technology is capable. First of all, thanks for choosing such a crisply absurd example to start with. Select an online stockbroker. He has no interest in how it works, just as long as it does work. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution. When it comes to malicious cyber attacks, an attack on a single source of many people’s data is generally more likely than on an individual level. During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends. With a new startup called Inrupt, Berners-Lee aims to fix some of the problems that have handicapped the so-called open web in an age of huge, closed platforms such as Facebook. Unfortunately like many startups and grand ideas I’ve had to deal with in my career, this is like most of them, * You want the Big Dogs and the Big Money. Etienne • There is no federal law that prohibits trading of securities of companies in bankruptcy. There’s no security in a pod will ALL your data from throughout your day in great detail. The company’s gunning for an IPO, and the rest of us are not having good luck at the securities markets, either. [*] Modify and delete data in existing documents, and delete documents The way initial public offering pricing works is that investors want to buy stock in a new company at a low price, and the company wants to sell it at a high price, and an investment bank … November 13, 2020 3:22 PM, I’m unclear on how this is supposed to prevent companies independently gathering personal information on you and storing it outside your “pod” (y’know, the way they do constantly now) unless there’s extremely strong new legislation mandating it…, vas pup • Is a pod only “controlled” by you but not “owned” by you? November 15, 2020 11:10 AM. Not exactly a paragon of users being in control. Solid allows you to precisely choose what other people and apps can read and write in a Pod. get handled? When you post something on Facebook, you cannot tell who has read it, except those who leave a comment or a “reaction” (a “like”, etc). […], Is data in my Pod safe? There are so many holes in the idea of this being a “good idea” that I don’t even know where to start. KJN • […]. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. Terrorists May Use Google Earth, But Fear Is No Reason to Ban It. Except for the racist slave-holding part; they’d love to resurrect that abomination of evil oppression. Who built the site? The Internet is not a public network and it is not owned by any single private entity. It’s kind of ironic that they may well be the first to discover why such mantras are realy ill thought out and harmfull. Thank you, Bruce! January 27, 2021 2:34 PM. Just because the stock markets close at 4 pm does not mean that trading stops. A debtor's solvency is determined by the difference between the value of its assets and its liabilities. Assuming you’re one of the lucky folks that still has a job, you might elect to spend that money on consumer goods. And Solid’s growing community of developers can be rest assured that their apps will benefit from the widespread adoption of reliable Solid Pods, already populated with valuable data that users are empowered to share. QUESTION 3: How do shares traded during bankruptcy proceedings re-emerge after bankruptcy? View Inrupt stock / share price, financials, funding rounds, investors and more at Craft. https://us.etrade.com/e/t/estation/help?id=1209038000, https://us.etrade.com/e/t/estation/help?id=1209031000, https://us.etrade.com/e/t/accounts/servicecenterhome, https://michelf.ca/projects/php-markdown/extra/, Friday Squid Blogging: Underwater Robot Uses Squid-Like Propulsion →, The Problem with Treating Data as a Commodity, Insider Attack on Home Surveillance Systems, Eavesdropping on Phone Taps from Voice Assistants. Thus in real terms whilst they might be free to try to rent other services, they are now a significant risk thus not one many honest entities would wish to be involved with. PattiM • Although a company may emerge from bankruptcy … Ross Snider • After struggling last year amid the pandemic, Alphabet's advertising is back in business. This will add the application origin to your authorization list, without granting it permission to any of your data yet. Dropbox with granular access? These days, smart phones could essentially fill the same role. Pod providers can be Solid compliant without encrypting the data stored […]. The media industries have spent a lot of time and trouble implementing DRM, to prevent people sharing certain kinds of data, and I understand it is not entirely successful. Image source: Wikipedia. Once users have a Solid Pod, the data there can be extended, linked, and repurposed in valuable new ways. I am a public-interest technologist, working at the intersection of security, technology, and people. The bankruptcy court may determine that stockholders don't get anything because the debtor is insolvent. Is the Pod encrypted while it is stored on a provider’s system? There are a whole load of other things that are “convenient” that I take pains not to do. Imagine if someone said the same about your operating system, nobody would believe it I am sure. DRM is there to prevent people taking unauthorized copies of data; which is precisely what individuals want to do with their own personal data. That is, if the company re-emerges from bankruptcy as a viable public company. The new shares may be fewer in number and may be worth less than old shares. For more in-depth information on trading companies whose shares are in bankruptcy, consult this SEC web page: http://www.sec.gov/investor/pubs/bankrupt.htm. This already seems like too-good-to-be-true. ht tps://www.theregister.com/2020/11/14/google_android_data_allowance/. I think I’ll keep my stuff in my /home folder where it’s safe and continue use my present, small, US hosting company. Do you understand anything about the laws of ownership? Should You Buy GOOG Stock? November 15, 2020 9:55 PM. Still perhaps Google will buy one. For example: Authorize https://noeldemartin.github.io to access your Pod? [*] Add data to existing documents, and create new documents One thing I don’t get is, if I let some third party get data from me once, whar control do I have left on that data once it is out in their hands? Markdown Extra syntax via https://michelf.ca/projects/php-markdown/extra/. This is a significant step forward to realizing Tim’s vision: The technologies we’re releasing today are a component of a much-needed course correction for the web. Using Form 8949 and Schedule D, offset your gains and losses to determine your net capital gain or loss. The ticker symbol for the new common stock will not end in "Q.". Inrupt’s Solid Announcement. The delete email address threw me for a loop. ANSWER: Buying common stock of companies in Chapter 11 bankruptcy is extremely risky and "is likely to lead to financial loss" according to the SEC. Based on the balances in your brokerage account at the time that your pending transfer is processed, the funds may or may not be available for investment immediately. So now they get A COPY OF your data. November 13, 2020 3:00 PM. I cannot take it back ever, can I? […], I’ve not bothered to read the actual spec, their FAQs seem honest enough…. If you want to buy back into the company after bankruptcy, know that the company’s OTC stock will have a “Q” at the end of the ticker name. Mmm, keeping your data in your own pod starts with showing you care about your visitors privacy to my mind. so they can be like all their friends. They just want their facebook, netflix, games, news, etc. Inrupt.net is hosted on amazon/aws who overnight, just shut down an entire social networking site, Parler, because Parler has mostly conservative members, including US Senators and US Representatives. Is there an equivalent use case for enterprise pods to protect trade secrets? With their “The Rights of the idividual over the rights of society or their responsabilities to society” mantras of their “True libiterian Free Market ideal”. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. Earlier this year, I announced that I had joined Inrupt, the company commercializing Tim Berners-Lee’s Solid specification:. Your data lives in a pod that is controlled by you. Learn more about funds availability by entering funds availability in the search box. But that does not preclude the system owners going after the renters they evicted for civil damages based on the harms caused. on Thursday didn't slow down trading in shares of the video rental company. If you want your thermostat to share data with your air conditioner, you give both of them access through your pod. all of you naysayers can continue to willingly hand over everything “You” to the Tech Gulag Commandants! DangerMouse • If you don’t want to set these permissions at a global level, uncheck all of the boxes below, then click authorize. Not even close. Mike Hennessy • When using Solid, how is data stored? Is the data encrypted so that only I can access it and grant access, or can the provider ultimately view my data as well and serve it if given a valid warrant? Here are 5 key questions and answers about trading in shares of a company that has declared Chapter 11 bankruptcy, courtesy of the Securities and Exchange Commission (important caveat: these rules do not apply to Chapter 7 bankruptcy). Frank Wilhoit • David Rudling • Since then, Blockbuster's pink sheets have been temporarily suspended by the SEC. ) Bruce, you can do this. Security- and Privacy-wise they are a dumb and dangerous idea. They are the opposite to the Founders of the USA. This brings up a question about what “control” actually means. Selling a $10 device to 5Billion people or even 350,000 people (pop of USA) doesn’t make the cut. Often, the easiest method of buying stocks without a broker is by participating in a company's direct stock plan (DSP). The reorganization plan will spell out rights as an investor, and what a shareholder can expect to receive, if anything, from the company. Self-hosting means that your data would sit at home on your own physical hard drive or server. Yes. November 14, 2020 2:33 AM, “Your data lives in a pod that is controlled by you.”. No. • • • •

1. •

    You will then need to manage those permissions yourself by setting them explicitly in the places you want this application to access. Thus these network and infrustructure owning entities have agreements with contractual agreements that are in effect other Terms and Conditions. Companies in Chapter 11 can and do trade shares, and those shares can re-emerge with the company after the bankruptcy process is complete. 						November 13, 2020 3:43 PM, @Ross Snider • November 13, 2020 3:00 PM 						November 13, 2020 2:35 PM. And if you opt not the grant global permissions, the application just doesn’t work. Corporate users have this done for them already, and grandma and Uncle Fred aren’t sure what files are or where they live anyway. The owners of the systems being rented, found those renting were breaking the terms and conditions of the rental agreements. Jerel Crosland • Your request (Reference Number: ###########) to transfer $### from Cash NQ-#### to Ally-#### was successfully submitted for processing on 03/16/2020 at XX:XX ET. But there is a more fun side to this, which I’m waiting for someone to act upon. And while they were the ones who asked for it, they are not the ones who are curious about it. A system that successfully controls access to personal data could be used to control access to an mp3, or a video. So is Inrupt planning to go public with an official stock offering on NYSE? 						November 18, 2020 12:00 PM. 1) Once granted access there is nothing preventing retention and unauthorized reuse of the retrieved information. So I don’t hand over my details there. OIDC Token Issuance and fine-grained management through this authorization user interface is currently in the development backlog for node-solid-server. No shit, those providers look mighty juicy to me. Buying common stock of companies in Chapter 11 bankruptcy is extremely risky and "is likely to lead to financial loss" according to the SEC. If you have questions, please contact us through Customer Service (https://us.etrade.com/e/t/accounts/servicecenterhome). It’s exciting to see organizations using Solid to improve the lives of everyday people — through better healthcare, more efficient government services and much more. 					 Thanks to the ECN, or Electronic Communication Networks, you can still place trades through your online trading account.  					 In fact, conservatives are getting banned and shut down across the www in what can only be called the great tech purge of 2021. GameStop, AMC Jump in After-Hours Trading. 					 						November 13, 2020 2:29 PM. Solid is a technology for organizing data, applications, and identities on the web. Sidebar photo of Bruce Schneier by Joe MacInnis. 						November 15, 2020 8:45 AM, “…If you want your insurance company to have access to your fitness data, you grant it through your pod….”. Much easier to buy an Enterprise Level Solid Pod Server to get it direct. I've been writing about security issues on my blog since 2004, and in my monthly newsletter since 1998. Once you have documented your loss, you can deduct your stock loss just like any other losing stock sale. The idea behind Solid is both simple and extraordinarily powerful. check. 						November 13, 2020 4:52 PM, Hmmm…  I wonder about this. As soon as the bankruptcy gets filed and the news reaches the market, the stock price will decline to zero (or maybe a few pennie… 						November 14, 2020 11:01 AM, re: commercial-grade Enterprise Solid Server. When companies announce layoffs, poor financial performance during a financial quarter, or face a major scandal, stock prices can … They are not “Conservatives”; they are anti-Democratic buffoons. What David Rudling said is accurate, in fact I wouldn’t use it at all, I don’t think it can be secured. Pods provide a convenient way to keep different “social media”, etc. . JonKnowsNothing • And if the model is managed pods by hosting companies – how exactly would this be different from managed data service providers like Google Photos, Picasa, Dropbox, OneDrive, Sharefile, …, Peter Green • Curious • -- The Chapter 11 bankruptcy announced by. An investor might also wonder how a company can even continue to trade shares after declaring bankruptcy. It stays at home, or on/in the desk when on and is often off when I go out and about. In which case, how long would something like this last before legal compulsion, marketing value proposition, debugging needs, physical pod access, etc create business incentives for the companies who “own” the pod to also control and have some limited ownership of the data?  A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11.  Does Solid mean we won’t need so many passwords? This expectation attracts more stock investors and can breathe new life into the overall market. And it will turn out just like the Windows 10 feature of constantly asking for authorization, or Apps asking for permission to access various types of data, you automatically say OK or you turn off the function that asks for permission. Albert ARIBAUD • In fact, trading in its shares was more furious than ever. I understand the concept, but the current implementations seem to have authorization scopes so broad that most users would run away. I’ve read all of the comments, and not a single one says, “Hey! 						January 11, 2021 11:49 AM. Thus those who have broken the rules should so far br glad they have only been evicted from the systems they rented. QUESTION 5: Are there case in which the bankruptcy court decides that shareholders should get nothing? An investor might rightly wonder why anyone would trade shares of a company that has declared itself bankrupt. Inrupt, the startup from World Wide Web founder Tim Berners-Lee, announced an enterprise version of the Solid privacy platform today, which allows large organizations and governments to build … Reading this just makes me sad. If you control your pod, and therefore the authentication for each data access, then you can find out who has accessed your data – and who has not.  Similar applies to many of the others. Bondholders may receive new stock in exchange for bonds, new bonds, or a combination of stock and bonds.  We cannot respond to e-mails sent to this mailbox. Action Alerts PLUS is a registered trademark of TheStreet, Inc. 					 I also take pleasure in making life as difficult as humanly possible for the idiots that try to get my details. If all my data is in one place, does it not become a vulnerable target for hackers? Because way too many people are like this, we have the mess we see today. KJN • Rj • Only you can choose to no longer remain a fascist idiot, but that requires you to choose to end your willful ignorance. In which case, how long would something like this last before legal compulsion,…”. Hey, at least they’re transparent about it. Copyright 2009 TheStreet.com Inc. All rights reserved. Where are these people running off with their customers’ and shareholders’ money anyways? The solution is at the bottom of the heap with the little folks. To pay for stock X, you sell stock Y on Tuesday or later. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. Header image at 14.5MB! Direct Stock Plans . If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. If you show a net capital loss, the IRS allows you … 					 Data Is a Toxic Asset, So Why Not Throw It Out? It can get a little more complicated if a company is being acquired with stock, or a combination of cash and stock, since the value of that stock will also fluctuate from day to day. Bruce, you are peddling snake oil and I don’t like the smell of that. Parler was shut down because they fomented group violence against innocent people in the effort to overthrow our democratically-elected government. 						November 13, 2020 9:16 PM. I have a nephew who loves video games. QUESTION 2: What is the risk level of trading in shares of a Chapter 11 company? But there are other options to consider. The ticker symbol of stock that is trading "when issued" will end with a "V". Inrupt, the startup from World Wide Web founder Tim Berners-Lee, announced an enterprise version of the Solid privacy platform today, which allows large organizations and … It seems a little like saying, “We’ll clean up (say) Oregon, and build there, and that will make the planet [better, cleaner, more secure, whatever…]…”, xcv • Sometimes the best you can hope for is the ability to digitally sign some piece of data you release into the world, so that your sharing of it can be validated. Impossibly Stupid • No. Any 3 … This version of the authorization user interface (node-solid-server V5.1) only supports the toggle of global access permissions to all of the data in your Pod. Here are a couple of key points. This new opportunity to address security in the whole community’s core bias, as was once done when you wrote your volume on secure analyzing. 					  The “little guy” has little knowledge how to install, secure, or even operate most computer and networking equipment. Data generated by your things — your computer, your phone, your IoT whatever — is written to your pod. Thankfully everyone posting before me has done a pretty good job. 					 Is Wall Street a total scam or what? I even do that sort of thing myself for published blog comments like this one. 						November 13, 2020 6:45 PM. These first major deployments of the technology will kick off  the network effect necessary to ensure the benefits of Solid will be appreciated on a massive scale. If the company's liabilities are greater than its assets, any stock may be worthless. I think the idea is worthwhile, and I believe we need to explore other choices like this one, that have the potential to improve control over one’s personal information. If you have questions about this transfer, please contact a Financial Services Representative at 1-800-ETRADE-1 (1-800-387-2331) or send us a Secure Message via Customer Service online. Can Solid prevent 3rd parties from replicating data they have legitimate access to ? Here’s what you need to know about your stocks, bonds, mutual funds, and more in bull and bear markets. Also, I can’t help but wonder, that anything that becomes uniquely personal, is bringing people closer to some chip-in-a-brain kind of future, I don’t like that. Earlier this year, I announced that I had joined Inrupt, the company commercializing Tim Berners-Lee’s Solid specification: The idea behind Solid is both simple and extraordinarily powerful.  					 Penalty.