[3.02] Morning Round-Up: Amazon Web Services S3 Failure Caused Internet Breakdown

Here’s what you should know today.

1. Singaporean insurtech startup PolicyPal secures seed funding from 500 Startups

PolicyPal, which launched in April 2016, displays all your existing insurance coverage plans on a single screen. It’ll tell you when to renew specific plans as well as when a premium payment is due.

It will be using the fresh funding to strengthen product development efforts as well as to enter the Monetary Authority of Singapore (MAS)’s fintech regulatory sandbox.

Read the rest of the story here.


2. The Amazon S3 outage is what happens when one site hosts too much of the internet

The problems seem to stem from trouble with Amazon’s cloud storage service S3, which Amazon confirmed is experiencing “high error rates,” particularly on the East Coast.

 Corporate consolidation in tech has implications for competition—but it also affects the resilience of the internet itself.
Amazon has multiple data centers in case one goes offline. But Amazon occasionally runs into problems that knock out services for an entire region. When that happens in the eastern region, its most popular, it tends to take down large swaths of the net.

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3. Recommended Reading: Alibaba’s “new retail” model: A better omni-channel experience for luxury consumers?

Over the past year, Alibaba has aggressively acquired sizable Chinese retailers of different types. It has formed partnerships with supermarket retailer Bailian Group, high-end retailer Yintai Group (owner of Intime Department Stores), electronics retailer Suning Commercial Group, and several others.

Alibaba’s “new retail” model could entirely transform the retail landscape in China if it succeeds. Luxury brands could potentially benefit as this new model can provide them an opportunity to offer better omni-channel experiences to consumers.

Read the rest of the story here.