Mar
30

Marc Benioff and Jeff Lawson have jumped into a fight over a rich San Francisco neighborhood's efforts to block a homeless shelter from being built on a parking lot

An oh-so-San Francisco battle is going on right now that involves the city's massive homeless population, rich property owners, even richer tech executives, crowdsourced funding and an empty parking lot.

With the vocal help of San Francisco native Marc Benioff, the billionaire founder and CEO of Salesforce, San Francisco a few months ago passed a bill to raise taxes on tech companies to help the homeless. Proposition C, which is expected to raise $300 million for homeless programs, passed with overwhelming support.

And now the city has plans to spend some of that money by building a 200-bed shelter on an empty parking lot owned by the city on the Embarcadero, known as Seawall Lot 330. But residents from some nearby neighborhoods of Rincon Hill and South Beach are fervently protesting those plans. In hearings and town halls some of the residents say they support help for the homeless, just not near where they live, making them known as the NIMBYs, not-in-my-backyard-ers.

In typical San Francisco fashion, they turned to crowdfunding to help them, a GoFundMe campaign called Safe Embarcadero for All. Its goal is to raise $100,o00 or more to pay for legal bills to fight the shelter. By Friday afternoon, nine days after the campaign began, they raised over $70,000 from 175 people, and that sum was growing hourly.

So on Friday, another San Francisco resident, William Fitzgerald, fired up a competing GoFundMe called Safer Embarcadero for All. It's raising money for the one of the city's largest homelessness organizations, the Coalition on Homelessness, which is involved in the plans to build and run the shelter.

Read more: Here's who's getting rich from Lyft's enormous IPO

Twilio CEO Jeff Lawson Twilio But its underlying purpose is really to oppose the NIMBYs. "For those who don't have the backstory: we're fighting an effort by residents of one of the richest neighborhoods in San Francisco to block a homeless shelter on a parking lot," Fitzgerald explained in the campaign.

He's also asking donors to show up at those town halls and support the idea of the shelter.

It didn't take long for "Safer" to come to the attention of Benioff, who donated $10,000 to the campaign.

He was joined by Jeff Lawson, founder and CEO of Twilio, another tech CEO known for taking public stances on social issues. Lawson was also an outspoken advocate of Prop C and he also donated $10,000 to "Safer."

Each one of them tweeted about their support of the GoFundMe to their combined one-million-plus followers and urged them to do the same.

And just like that, in one day, the "Safer" campaign started trending, collecting about $75,000 (and still climbing rapidly) compared to Safe's over $70,000 (and still climbing).

As Lawson wrote in his tweet, "This isn't about the money, it's about the soul of our city, fighting for our most vulnerable citizens, and supporting our leaders like [San Francisco Mayor Breed] @LondonBreed."

Original author: Julie Bort

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Jun
01

JBS meatpacker ransomware attack likely by Russian criminals, U.S. says

Old Facebook posts by Mark Zuckerberg have disappeared — obscuring details about core moments in Facebook's history.

On multiple occassions, years-old public posts made by the 34-year-old billionaire chief executive that were previously public and reported on by news outlets at the time have since vanished, Business Insider has found. That includes all of the posts he made during 2007 and 2008.

Reached for comment, a Facebook spokesperson said the posts were "mistakenly deleted" due to "technical errors."

"A few years ago some of Mark's posts were mistakenly deleted due to technical errors. The work required to restore them would have been extensive and not guaranteed to be successful so we didn't do it," the spokesperson said in a statement.

"We agree people should be able to find information about past announcements and major company news, which is why for years we've shared and archived this information publicly — first on our blog and in recent years on our Newsroom."

These disappearances, along with other changes Facebook has made to how it saves its archive of announcements and blog posts, make it much harder to parse the social network's historical record. This makes it far more difficult to hold the company, and Zuckerberg himself, accountable to past statements — particularly during a period of intense scrutiny of the company in the wake of a string of scandals.

The very nature of the issue means it is extremely challenging to make a full accounting of what exactly what has gone missing over the years. The spokesperson said they didn't know how many posts in total were deleted.

The curious case of Mark Zuckerberg's vanishing Facebook posts

In April 2012, Facebook acquired Instagram — a now-pivotal moment in the growth of the Menlo Park, California technology giant. Multiple news reports from the time quoted from a public post that Zuckerberg made on his timeline about the acquisition — but that post now inaccessible.

The links to that post from old news articles no longer work, and it's nowhere to be seen on his profile.

It was an important document in the history of Facebook, particularly given Zuckerberg promised that "we're committed to building and growing Instagram independently" — a commitment he has since walked back. Facebook is now integrating the photo-sharing app into itself ever-more closely, and tensions around this contributed to the departure of Instagram's two cofounders in September 2018.

READ MORE:Facebook exec Andrew Bosworth broke the social network's rule on using your real name for 8 years

The most drastic deletions involved entire years. Throughout both 2006 and 2009, Zuckerberg was regularly active on the social network — but there are no posts visible of any kind for the two full years in between. The spokesperson confirmed that all the posts during 2007 and 2008 were deleted.

This is the error message you see when you click on a link to one of Mark Zuckerberg's vanished Facebook posts. Facebook

Another, specific example from later on: Facebook's beloved head chef Josef Desimone died in a motorcycle crash in July 2013. TechCrunch reported at the time that Zuckerberg shared the news in a post on Facebook. However, that post is now inaccessible as well.

Facebook would go on to throw a party in Desimone's memory at its headquarters the following month. Hundreds of people were invited, and booze flowed freely — and it subsequently descended into chaos. As Business Insider previously reported, multiple fights broke out among attendees, which security staff believed were gang-related.

Numerous other posts by Zuckerberg from these time periods remain publicly available.

Facebook has also made it harder to navigate its archives of old announcements

Lastly, there have been issues accessing Facebook's archive of older blog posts.

In years past, Facebook had a dedicated blog that announcements would often be posted to and which was navigable by month; an archived example of a post is available here, via the Internet Archive. But at some point — it's not clear when, exactly — Facebook launched its new "Newsroom," a repository for its key announcements, and broke the public links to old blog posts.

Now, when you click on a link to a blog post included in an old news story, it redirects you to the Newsroom. The Newsroom doesn't have copies of many of these old blog posts, meaning there's no easy way to access them.

They do still exist in one form — as a "note" saved to Facebook's public "Facebook" page on the social network. But until today there was no centralized archive through which to browse them, like what was available for the Facebook blog, or like what exists today for Newsroom posts.

Instead, to read a specific one, you had to either know about it already and search for keywords on Google, or scroll back through the Facebook page's thousands of posts over the years.

After Business Insider reached out for comment, Facebook added a "notes" tab to the Facebook page to access them. However, as of press time, no notes are showing up in it.

READ MORE: Facebook secretly explored building bird-size drones to ferry data to people with bad internet connections

Take, for example, the 2006 launch of the News Feed, which is now an advertising juggernaut that now makes billions of dollars for the company. Zuckerberg tried to quash early user backlash against the News Feed with a blog post called "Calm down. Breathe. We hear you," but a link to it in a TechCrunch news report from the time now just redirects to the Newsroom homepage.

There's no copy of the blog post in the Newsroom, and it's currently only available as a note from Facebook. Here's how it looked prior to the closure of the blog, according to the Internet Archive.

The net effect of this change to the archives was to drastically obfuscate Facebook's historical record — making it far harder to find past statements and announcements from the company about itself.

Mark Zuckerberg's content has gone AWOL before

This isn't the first time Zuckerberg-related material has disappeared without warning from Facebook.

In April 2018, TechCrunch reported that messages sent by the CEO were being deleted from other people's inboxes without their knowledge or consent — a feature that wasn't available to ordinary Facebook users at the time.

And back in November 2016, public posts from Zuckerberg about the media and Facebook's role in the 2016 US election also disappeared, The Verge reported at the time.

At the time, a spokesperson told the Verge that their removal was an accident and subsequently restored them.

Do you work at Facebook? Got a tip? Contact this reporter via Signal at +1 (650) 636-6268 using a non-work phone, email at This email address is being protected from spambots. You need JavaScript enabled to view it., Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only please.) You can also contact Business Insider securely via SecureDrop.

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Original author: Rob Price

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Jun
09

How to get a free week of Disney Plus, Disney's ad-free streaming service

India fired a missile into space on Wednesday, struck one of its own satellites, and destroyed the spacecraft.

Indian Prime Minister Narendra Modi, who is running for reelection, hailed the successful test as "an unprecedented achievement" that makes India "a space power" and the fourth nation ever to develop the capability.

But these anti-satellite missile tests leave behind large debris fields in space that can threaten other satellites.

India's Defence Research and Development Organization downplayed that risk, telling Reuters that the debris field "will vanish in no time" and "should be dying down within 45 days." But Lt. Gen. David Thompson, vice commander of the USAF Space Command, told the Senate Armed Services Committee that "they are tracking about 270 different objects in the debris field," according to Spaceflight Now.

"Likely, that number is going to grow as the debris field spreads out and we collect more sensor information," he said.

A software engineering company called Analytical Graphics Inc. (AGI) has now created its own simulation of the debris created by the anti-satellite test. The company — which "visualizes objects in space and time with unprecedented accuracy," according to its website— posted the video (embedded below) to YouTube on Thursday.

The simulation uses what the company calls "standard breakup models" to approximately illustrate the clouds of debris particles that resulted from the test.

"We modeled 6,500 fragments, basically those that were larger than half a centimeter," Tom Johnson, the vice president of engineering for Analytical Graphics Inc., said.

The remnants of 'Mission Shakti'

Modi announced the test, called "Mission Shakti," during a live broadcast on Wednesday morning. The test destroyed a satellite called Microsat-R that weighed around 1,600 pounds.

"Until now, only US, Russia, and China could claim the title. India is the fourth country to achieve this feat," he said during the broadcast.

Any collision in space creates a cloud of debris, and incredible energies are involved in anti-satellite events. A head-on collision can contain the energy of a car hitting another car at more than 22,000 mph — more than a dozen times as fast as a bullet shot from a gun.

This can hurl countless fast-moving pieces into space; traveling at such velocities, even a stray paint chip can disable a satellite.

Read more: The US government logged 308,984 potential space-junk collisions in 2017 — and the problem could get much worse

Fortunately, Microsat-R was destroyed at a relatively low altitude of about 175 miles. The closer a spacecraft is to Earth when it's destroyed, the quicker its debris will fall back and burn up.

The satellite was lower than the International Space Station's orbit of 250 miles, as well as that of a weather satellite that China destroyed in 2007. (Debris from the Chinese test still orbits the planet today.) This test was about 40 miles higher, however, than the altitude at which the US destroyed one of its satellites in 2008.

Right now, radar and other systems can track debris about the size of a golf ball or larger. Much smaller objects are difficult to track, yet still pose a threat to spacecraft.

The US Strategic Command's Joint Force Space Component Command is "actively tracking and monitoring the situation," a spokesperson told Business Insider on Wednesday.

What the debris simulation of the 'Mission Shakti' test shows

Part of the animation, which we learned about from Michael Sheetz of CNBC, is shown above. It shows the anti-satellite missile's "kill vehicle" — what is essentially a giant bullet slug — and its path in red. Microsat-R and its orbit are shown in green.

"The Microsat-R satellite was launched on January 24, 2019, with a mass of 740 kilograms [1,630 lbs]. It's a fairly large satellite," Johnson said.

He added that the simulation makes conservative assumptions, such as a downward collision "to minimize the debris fragments." The calculations assume that the collision happened at a height of 175 miles (Microsat-R's last known altitude), and that the missile and satellite collided at a "closing velocity" of about 22,000 mph.

Although the model estimates the number of tiny debris pieces to be over 6,000, Johnson noted that "in reality, we can't track the objects that small, so the number of trackable objects is gonna be significantly less."

A narrator of the video said AGI is waiting for US Strategic Command to release information about the 270 objects being tracked.

"We look forward to the release of that information so that we can update our debris model and the rest of our analysis," the narrator said. "Stay tuned."

For now, based on the simulation, the test appears to have kicked some debris to higher orbits around Earth (as shown below).

Business Insider asked multiple spokespeople from NASA and the Department of Defense if any debris is known to pose a threat to spacecraft, but did not get a response.

"We immediately started providing public notice on our Space Track website and will provide direct notification to spacecraft operators if those satellites are under threat," Lt. Gen. Thompson told the Senate on Wednesday. "I will also say, at this point in time, the International Space Station is not at risk."

You can watch AGI's full animation below.

This story has been updated.

Original author: Dave Mosher

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Mar
29

Here's how much the top Salesforce executives make in salaries, bonuses and stock (CRM)

It's that time of the year when salaries, bonuses and stock awards are being approved for the top executives at Salesforce.

Last Friday, Salesforce's board approved cash bonuses for its top executives, including co-CEOs Marc Benioff and Keith Block. These are based on corporate performance goals and also the performance of these executives in the past year. These executives will be paid their bonuses on April 15.

The Compensation Committee on the Board of Directors also approved their salaries for the next fiscal year, as well as their target bonus. This became effective on Feb. 1.

Salesforce executives will receive a basket of different equity awards. Stock options allow executives to purchase shares at the fair market value on the day they were granted. Performance-based stock units will vest if they are employed through April 15, 2022 at a percentage of the number of shares, based on performance. The others are subject to vest on a four-year schedule.

If you've ever wondered how much people at the top of this $121.9 billion cloud-based software company make, here's what you need to know:

Original author: Rosalie Chan

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Mar
29

Lyft is deeply unprofitable — but that isn't stopping eager Wall Street investors (LYFT)

Lyft lost $911 million last year.

That's more than the company lost in 2017, when it lost $688 million, and more than 2016's loss of $682 million.

It's almost counterintuitive, on the surface at least, that big-name investors would be clamoring at the gate and packing hotel penthouses to get a piece of a company so deeply in the red, but that's exactly what's happening with Lyft's initial public offering.

The stock was priced at $72 Thursday evening and quickly soared to above $87 per share when it began trading Friday morning, translating to a massive market value of roughly $29 billion.

Read more: Lyft's founders are set to make more than $1 billion in the company's IPO

That interest was fueled by bullish targets set by some of Wall Street's first analysts to launch coverage of the stock. Only four analysts have set price targets or valuations for the stock, but none of them are bearish on the company's long-term prospects.

"While profitability is key," the Wedbush analyst Dan Ives said, "we expect more driver incentives to be offered by Lyft over the next few years as the company needs to expand its drivers and peak house in the US, especially with Uber aggressively going after this market in major cities."

In other words, investors and analysts are focused on growth above all else.

And there's plenty of room to run. Lyft has pitched investors on its "transportation-as-a-service model" that could eventually upend traditional car ownership as we know it. It's a big ask, but that "golden opportunity," as Ives puts it, could be worth the $1.2 trillion American consumers spend on transportation each year.

And Lyft's executives, for their part, don't seem very worried about the negative cash flow either. When pressed by Bloomberg's Eric Newcomer on Thursday, the company's cofounder Logan Green dodged the profitability question: "We cannot talk about the future," he said, "but what we can tell you is that we have set ourselves up to deliver long-term shareholder value."

To be sure, profits are still on analyst's minds, but a money-making investment can easily be made on a money-losing company. Take Tesla, for instance, which at one point held a book valuation bigger than some of the US's largest automakers despite its negative cash flow.

"Lyft has a more focused geographical footprint and product portfolio than its largest competitor, but appears to be several years away from profitability," Tom White, an analyst at D.A. Davidson, told clients this week in publishing his ignition with a buy rating.

"Near term, Lyft's ability to reduce incentives for drivers and riders (critical tools for creating balance in its ridesharing marketplace) will be a key lever to its near term profitability outlook," he added.

Original author: Graham Rapier

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Mar
29

Sheryl Sandberg says that Facebook might place restrictions on who can stream live video in the wake of the Christchurch attack (FB)

Facebook Chief Operating Officer Sheryl Sandberg said on Friday the company was looking to place restrictions on who can go live on its platform based on certain criteria in the aftermath of the Christchurch massacre.

The company will monitor who can go "Live" on Facebook depending on factors such as prior community standard violations, Sandberg said in a blog post here.

A lone gunman killed 50 people at two mosques in New Zealand on March 15, while livestreaming the massacre.

Facebook has identified more than 900 different videos showing portions of the 17-minutes of carnage and has used its existing artificial intelligence tools to identify and remove hate groups in Australia and New Zealand, the blog said.

Last week, the social networking giant said it removed 1.5 million videos globally that had footage of the New Zealand mosque attack in the first 24 hours after the attack.

Earlier this week, one of the main groups representing Muslims in France said it was suing Facebook and YouTube, accusing them of inciting violence by allowing the streaming of the video.

Facebook, the world's largest social network with 2.7 billion users, has faced growing discontent over its approach to privacy and user data amid increasing concerns over its advertising practices.

Original author: Reuters

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Jun
09

Many startups are navigating their first official recession. Here's how one Silicon Valley lawyer is counseling young companies to make it through a long downturn unscathed.

Restaurant sales hit $825 billion last year in the U.S., but with margins averaging at only three to five percent per business, they’re always looking for an edge on efficiency and just generally running things in a smarter way. A startup called Toast, which has built a popular platform for restaurant management, has closed a hefty round of funding to double down on that opportunity to do that.

The company has raised $250 million on a valuation of $2.7 billion, money that it will use to invest in building technology to help restaurants with marketing, recruitment and operational efficiency, as well as start to think about expanding to more territories outside the U.S.

The basics of the funding were flagged earlier today by Prime Unicorn Index and we reached out to the company to confirm. It is being led by TCV and Tiger Global Management, with participation from Bessemer Venture Partners and T. Rowe Price Associates funds and other existing investors.

This Series E is a big bump up for the company: in its previous round in July 2018, the company was valued at $1.4 billion — partly the result of strong growth at the company. While it’s not disclosing revenue numbers or whether it is yet profitable, Toast currently serves tens of thousands of businesses — covering a range of sizes from independent venues to smaller chains — and in the last year tallied up transactions in the tens of billions of dollars, seeing growth of some 148 percent in its revenues, according to CFO Tim Barash.

The restaurant business represents a big opportunity for e-commerce companies, but there have been some notable stumbles where ambitions have not been met with success. Groupon, which spent several years acquiring and organically building a point of sale and restaurant management business, first drastically cut down and then finally called it quits and sold off its efforts, called Breadcrumb, in 2016. Amazon also pulled out of point of sale services (aimed at more than restaurants) and has in certain regions also pulled back on other restaurant efforts like its order management and delivery platform.

Barash said in an interview that he thinks the key to why Toast has steadily grown its business through all that is because a large proportion of its own employees — some 70 percent — have worked in the food service industry themselves.

“I was first a busboy, and then I worked in pizza delivery for years,” he said. “Seventy percent of our employees have worked at restaurants, including those in our product leadership, and that helps us understand the problem.”

Restaurants, as Barash points out, are complicated. “They are essentially manufacturers and retailers at the same time, all in one small physical footprint,” and so the key to building products for them is to understand that and the challenges they face in building and running those businesses.

And that’s before you consider the many other factors that can make restaurants a dicey game, from changing cuisine tastes, to changing eating habits — many get food delivered today — to the precariousness of the commercial real estate market and so much more.

The aim of Toast is to build tools to apply data science and orderly IT processes to address whichever of those variables that can be controlled by the restaurant.

Today, Toast’s products include point of sale services as well as reporting and analytics; display systems for kitchens; online ordering and delivery interfaces; and loyalty programs. It also builds its own hardware, which includes handheld order pads, payment and ordering terminals, self-service kiosks and displays for guests. It also offers links through to a network of some 100 partners, such as Grubhub for takeout food, when a restaurant does not cover those services or functions directly, to help stitch together services to work on its platform.

Tomorrow, the plan is to use the funding to enhance all of those with more advanced features that speak to some of the bigger issues and concerns Barash said its customers are voicing today.

That will include better and more services aimed at guest engagement and retention; better ways to recruit and keep people in an industry that has a high turnover of employees; and of course more tools to address how efficiently a business is operating to make it more profitable. The company has committed some $1 billion in the next five years to R&D to build more hardware and software.

Having access to this kind of tech and platform is a big deal, especially for independently owned places that hope to compete against bigger chains without having to compromise on their core competency: making unique and delicious food.

In the meantime, Barash said that while Toast itself is no stranger to approaches from larger players itself — he declined to say who but said many who have ambitions to do more business with the restaurant industry had approached it over the years — the company’s long-term vision is to grow bigger and remain its own boss.

It’s an ambition that has hit the spot with investors that have an appetite for high-growth businesses.

“At TCV, we invest in companies that have the potential to reshape entire industries. By providing restaurants of all sizes with access to innovative technology, Toast is leveling the playing field and leading the industry’s transition to the cloud,” said David Yuan, general partner at TCV, in a statement, who is joining the board with this round. “Our investment will enable Toast to extend their platform beyond point-of-sale and guest-facing technology, and in doing so, create a powerful SaaS platform with a superlative business model. We’re excited to partner with Toast as they accelerate the growth of the community they serve.”

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Mar
29

A 'Call of Duty' player who tricked police in a fatal 'swatting' incident has been sentenced to 20 years in prison

A man convicted of making dozens of false reports to police has been sentenced to more than 20 years in federal prison. The "swatting" case of Los Angeles native Tyler Barriss, 26, garnered national attention after police in Witchita, Kansas shot and killed 28-year-old Andrew Finch outside of his home on December 28, 2017.

On that day, Barriss called Wichita Emergency Services and claimed that Finch had killed his father and was holding his brother and mother hostage. Barriss and Finch did not know each other; Barriss was using a tactic called "swatting" to target a different Kansas native using an old address.

Swatting uses false reports to encourage police to use force against an innocent citizen. In this case, Barriss sent police to the Finch family home to face a threat they believed to be lethal. Later, authorities would determine that the call was made following an argument over a game of "Call of Duty: WWII."

A subsequent investigation showed that Barriss had called in fake bomb threat to the FBI headquarters and Federal Trade Commission as well as schools, malls and emergency workers in more than a dozen states. Barriss pleaded guilty to 51 federal charges in total, based on the false reports and instances where he used people's credit cards without permission.

Barris faced additional state prosecution for his numerous false reports but charges in California and Kansas were dismissed as a part of his plea deal. Barriss will serve the full 20 year sentence and an additional five years of supervised release. The Wichita Eagle reports that he will pay a $5,000 fine to the Kansas Crime Victim's Compensation fund, which will then be given to the Finch family.

Two more "Call of Duty" players are always awaiting trial for their alleged role in the incident. Casey Viner of Ohio and Shane Gaskill of Wichita were reportedly the two "Call of Duty: WWII" players who sparked the incident. The two argued on Twitter, and when Viner threatened Gaskill with physical violence, Gaskill provided Viner with an old address claiming that he would be there waiting to accept Viner's challenge. Viner then forwarded the address to Barriss and encouraged him to make the swatting call.

"I take full responsibility in what happened to him," Barriss said during the sentencing, according to the Wichita Eagle. He added, "If I could take it back I would. ... I'm just so sorry for that."

Original author: Kevin Webb

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Mar
29

Theranos founder Elizabeth Holmes is reportedly engaged to a 27-year-old hotel heir. Here's what we know about their relationship.

Theranos founder Elizabeth Holmes is engaged, Vanity Fair's Nick Bilton reported.

Her fiancé is William "Billy" Evans, a 27-year-old hotel heir, according to the Daily Mail. Evans has also worked for driverless-car startup Luminar Technologies.

"She wears his M.I.T. signet ring on a necklace and the couple regularly post stories on Instagram professing their love for each other," Bilton wrote in a February Vanity Fair article. "She reliably looks 'chirpy' and 'chipper.'"

Holmes and Evans have reportedly been living in a luxury apartment building in San Francisco while Holmes awaits trial. Holmes, 35, was once a Silicon Valley superstar and the youngest female self-made billionaire after founding the blood-testing startup Theranos. But when the flaws and inaccuracies of the company's technology were revealed, Theranos and Holmes were charged with "massive fraud."

Read more: The rise and fall of Elizabeth Holmes, who started Theranos when she was 19 and became the world's youngest female billionaire before it all came crashing down

Holmes and Evans reportedly share a Siberian husky named Balto, according to Brides magazine.

The pair has not publicly confirmed their relationship, but they were seen partying at Burning Man in 2018, according to the Daily Mail.

Holmes arrives at court in California in January 2019. Justin Sullivan/Getty Images

In 2014, Holmes told The New Yorker that she "doesn't date."

But in 2019, it came out that the Theranos founder was previously in a relationship with the former president of Theranos, Sunny Balwani, Business Insider's Lydia Ramsey previously reported. The two kept their relationship a secret at the time, but both later confirmed it in deposition tapes reported by ABC News in January 2019. Holmes said in the tapes that the two were together "for a long period of time" but that they didn't disclose their relationship to investors.

Holmes was previously in a relationship with the former president of Theranos. REUTERS/Mike Blake

Their relationship was of interest to John Carreyrou, an investigative reporter for The Wall Street Journal and the author of "Bad Blood."

Read more: The mysterious story of former Theranos president Sunny Balwani, who was in a relationship with Elizabeth Holmes and now faces criminal charges

"It instantly became clear to me that she was lying to her board about this romantic relationship that she was having with the number two of the company, who by the way, was also about 20 years older," Carreyrou previously told Business Insider.

Business Insider reached out to Evans for confirmation but did not immediately hear back.

Original author: Katie Warren

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Mar
29

Equity Shot: Lyft is public — what does that mean for other IPO-ready unicorns?

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

Sure, we just aired a new episode, but things keep happening, and after talking about this crop of IPOs for so long, we can’t help ourselves. (You can follow us on Twitter, here and here, by the way, if Equity isn’t enough for you.)

Lyft, as you know, started trading today, closing the loop on a long saga that brought the smaller of the two domestic ride-hailing unicorns to the public markets.

After so much speculation about which of the two would get out the door first, Lyft did, and now we get to see what sort of pricing shenanigans happen next. Does Uber drop rates and punish Lyft? Or does Uber work to cut its losses, lowering its expenses and providing a clearer path toward profitability before its April IPO roadshow kicks off? (Not a path to profitability, mind; Uber and Lyft need to show a path to the direction of profitability first.)

We hit all the bases, going over the company’s pricing path, its varying share figures, final raise metrics and more. If you want the hard stuff, we’ve got a shot for you.

Now that the Lyft IPO has wrapped, we’ll be shifting our focus to Pinterest, Zoom and, of course, Uber. Stay tuned.

OK, now we’re done. Until next Friday. Unless something else happens.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercast, Pocket Casts, Downcast and all the casts.

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Jun
09

If you’re not investing in diverse founders, you’re a bad investor

Cable companies could be in danger of losing millions of their broadband customers as AT&T builds out its broadband fiber network.

In a new research note, Cowen analysts predicted AT&T could steal about 1 million customers from Comcast, 1 million from Charter, and 200,000 from Altice by 2023.

Those losses would result in a 3% annualized EBITDA loss ($1.1 billion) for Comcast, a 4% ($885 million) loss for Charter, and a 3% ($162 million loss) for Altice, according to the analysts.

AT&T's initiative stems from its promise to the FCC as part of its 2015 acquisition of DirecTV to deploy fiber to millions of households. AT&T has deployed fiber to more than 3 million homes for the past two years. AT&T has indicated it might not stop at 14 million homes, its publicly stated goal. AT&T management has indicated it plans to ramp up its strategy to capture 50% of the market in three years, which suggests more aggressive share stealing to come, Cowen analysts wrote in the note.

Perhaps more importantly, AT&T could use its fiber build out to stem losses of DirecTV customers, the analysts said. If the company builds out in markets with a higher DirecTV penetration, it could offer a broadband bundle with the video service to retain or even win back customers it has lost.

But the Cowen analysts also said they believe cable companies will be able to manage the threat. Cable companies have been outperforming telcos in the broadband space for several quarters because they have a speed advantage.

Nearly all cable companies can provide 1 gigabit speeds, while telecom companies can only do so in about 25% of their footprint. AT&T's upgrade to fiber will allow for 1 gig speeds.

But cable companies look to go further and have announced "10G" plans, which offer a path to speeds of 10 gigabit per second.

"Last year's broadband subscriber growth (on top of a decade-plus of similar results) kind of shoots a big hole in their findings when it comes to us and customers," a Comcast spokesman told Business Insider.

Charter did not immediately respond to a request for comment.

Original author: Abby Jackson

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Jun
04

A reopened Dutch restaurant is using robots to implement social distancing by serving and seating customers — see how it works

Before they met, Lyft cofounders Logan Green and John Zimmer, both self-proclaimed transportation geeks, each started small car-sharing programs on their respective college campuses.

Now, Lyft is going public with a valuation of about $29 billion, Business Insider's Rebecca Ungarino reported, with shares trading at $87.24 apiece.

Read more: Lyft soars 21% in his historic trading debut — and is now valued at $29 billion

Green and Zimmer met on Facebook through a mutual friend while Zimmer was working at Lehman Brothers in New York City and Green was still a college student. Together, they started Lyft's precursor, called Zimride, in 2008.

Lyft's IPO won't make the pair overnight billionaires, but it will almost certainly contribute to an influx of new millionaires in San Francisco over the course of 2019 as several high-profile tech startups plan to go public.

Here's how Green and Zimmer went from organizing carpools on college campuses to running a $29 billion company.

Original author: Katie Warren

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Mar
29

Jai Courtney says he will be back playing Captain Boomerang in the James Gunn 'Suicide Squad' movie

Despite reports that Warner Bros.' next "Suicide Squad" movie, written and directed by "Guardians of the Galaxy" helmer James Gunn, will be mostly focusing on new DC Comics characters, it turns out Captain Boomerang will be coming back.

Jai Courtney, who played the character in the 2016 movie, told Business Insider on Friday that he will be starring in Gunn's "The Suicide Squad."

"We're getting ready to shoot in a few months' time," Courtney said, while promoting his upcoming movie "Storm Boy" (in theaters April 5). "There's not much else I can reveal about it but, yeah, you'll be seeing Boomerang back for sure."

It's still unclear which actors from the David Ayer movie will be returning for the sequel.

Read more: That creepy "I Got 5 On It" remix in "Us" was never supposed to be in the movie — here's what led Jordan Peele to add it at the last minute

Will Smith, who played Deadshot, exited the Gunn project due to scheduling conflicts (Idris Elba is reportedly eyeing the Deadshot role). Margot Robbie, who played Harley Quinn and is already shooting a spin-off titled "Birds of Prey," is expected to return. However, according to a Hollywood Reporter story, Gunn is planning to use DC characters who weren't in the first movie.

But for fans of the first movie (which grossed over $746 million worldwide), the return of Courtney's outlandish, pink unicorn-obsessed supervillain is a welcome sight. And the actor is excited to get back into the character.

"I'm happy, it's going to be fun," Courtney said. "It will be different, for sure, but it's going to be great."

"The Suicide Squad" is set to open in theaters August 6, 2021.

Original author: Jason Guerrasio

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Mar
29

Scott Rogowsky just announced he's hosting a new baseball show — and that could mean he's done with HQ Trivia

After hosting HQ Trivia for more than two years, comedian Scott Rogowsky has taken on a new role at DAZN, a sports streaming subscription service. Rogowsky began hosting a daily baseball show called "ChangeUp" on March 28th, the opening day of the Major League Baseball season.

"ChangeUp" is scheduled to air Monday through Friday, from 7 p.m. to 10:30 p.m EST; that schedule could conflict with Rogowsky's current role as the primary host HQ's live game shows, which broadcast live at 9 p.m. and 9:30 p.m. EST every day. It's possible, however, that Rogowsky could continue to host HQ on occasion, or regularly if the app changed its current broadcast times. It's also possible that Rogosky is ready to move on from HQ — but nothing has been confirmed other than Rogowsky joining DAZN.

A source familiar with the matter says that Rogowsky is a huge baseball fan, so hosting "ChangeUp" at DAZN is a dream job for him. Rogowsky will be co-hosting alongside Adnan Virk, who joined DAZN after being abruptly dismissed after nine years at ESPN for his role in a leaking scandal. The show jumps between different MLB games during the evening to capture the most exciting moments, with Rogowsky and Virk adding commentary and analysis.

HQ Trivia is an online game show broadcasting live each day. Rogowsky has been the primary host of HQ Trivia since the show launched with an app in August 2017. HQ was co-founded by Colin Kroll, who also helped co-found the video looping app Vine. Kroll was CEO of HQ Trivia until his death in December 2018; at the time of his death, Rogowsky thanked Kroll for his leadership and said HQ changed his life.

HQ Trivia did not immediately respond to Business Insider's request for comment.

Original author: Kevin Webb

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Jun
04

Elon Musk tweeted that Amazon should be broken up after it initially rejected a book by a coronavirus skeptic who's peddled falsehoods (TSLA, AMZN)

Pink confetti fell from the ceiling Friday as Lyft co-founders Logan Green and John Zimmer celebrated their company’s IPO. The stock offering was a bona fide success, with shares selling for $87.24 apiece Friday morning — 21 percent higher than Lyft’s initial $72 share price — and closing at $78.29 per share.

Lyft raised roughly $2.3 billion Thursday evening, hours before ringing the opening bell of the Nasdaq on Friday around noon Pacific. The IPO gave Lyft an initial market cap of about $24 billion, representing an 11x revenue multiple and a 1.6x step-up from its most recent private valuation of $15.1 billion. 

On Bloomberg TV, Lyft’s co-founders discussed the company’s long-term prospects, including international growth, autonomous vehicle plans, the future of car ownership and insurance.

“We are confident that the business will be very profitable,” Green told Emily Chang. “We are making tremendous progress going after this once-in-a-generation shift where this entire industry, a $1.2 trillion market, could flip from an ownership model to a service model and we are leading the way there.”

The pair opted to host their IPO in Los Angeles, Lyft’s largest market.

“We want to make a point that you can both invest in communities and build a great business,” Zimmer said. “It was fun to ring the bell with several members of our driver community and have many of them participate in our IPO because we gave them a bonus to do so.”

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Mar
29

Elizabeth Holmes is reportedly engaged. Here’s a timeline of the Theranos CEO’s rise and fall, from becoming the world’s youngest female billionaire to getting charged with massive fraud

Theranos CEO Elizabeth Holmes was a poster child for Silicon Valley success — until it all came crashing down. Kimberly White/Getty Images for Breakthrough Prize

In 2014, blood-testing startup Theranos and its founder, Elizabeth Holmes, were on top of the world.

Back then, Theranos was a revolutionary idea thought up by a woman hailed as a genius who styled herself as a female Steve Jobs. Holmes was the world's youngest female self-made billionaire, and Theranos was one of Silicon Valley's unicorn startups, valued at an estimated $9 billion.

But then it all came crashing down.

The shortcomings and inaccuracies of Theranos's technology were exposed, along with the role Holmes played in covering it all up. Holmes was ousted as CEO and charged with massive fraud, and the company was forced to close its labs and testing centers, and eventually shutter operations altogether.

Holmes and Theranos are the focus of a new HBO documentary that debuted in March, called "The Inventor: Out for Blood in Silicon Valley." The documentary joins the book "Bad Blood" and a podcast from ABC News that have combed through the story of Theranos and how its founder was able to defraud investors and potential customers.

This is how Holmes went from precocious child, to ambitious Stanford dropout, to an embattled startup founder charged with fraud.

Original author: Avery Hartmans and Paige Leskin

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Mar
29

7 smart buys that protect your eyes from harmful blue light — from computer glasses to screen protectors

Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective.

Blue light is a tricky thing to understand. As of recent, we've been led to believe that blue light is evil. I think it's more ... misunderstood. The sun admits natural blue light — it's always been this way, so why all of a sudden are people experiencing eye strain, headaches, and fatigue from it?

This is how blue light works: The sun admits light known as white light. White light compromises various wavelengths that make up the visible spectrum (think: Roy G. Biv). An object exposed to white light absorbs all of the wavelengths (or colors of the rainbow) but the one you see. So, the sky is blue because red, orange, yellow, green, violet, and indigo are absorbed by the molecules in the atmosphere, while the color blue (or blue light) is reflected back to our eyes.

Blue light is actually important to our natural sleep cycle. It gives us energy and boosts our mood during the day, and helps our bodies know when it's time to go to sleep at night. So, what's the problem? It's not natural blue light, it's artificial blue light.

Artificial blue light is light that's admitted from electronic devices like computers, tablets, and phones. A large portion of people these days spend all day and night either staring at a computer screen or glued to their phones. The short-wave, blue light emanating from electronic screens flickers quickly and has the ability illuminate for long periods of time. Our eyes aren't naturally built for prolonged direct exposure to blue light. This is thought to be a factor contributing to eye strain, headaches, and fatigue.

Not to mention the other beast. When we use blue light electronics at night, it throws off our natural melatonin-production leaving us restless and wide awake.

What's a girl to do when she works for an online media company and constantly works with blue-light devices? Thankfully there are products like specialized light bulbs and screen protectors designed to reflect and reduce blue light exposure to help alleviate eye strain.

Here are seven ways to help protect your eyes from daily blue light exposure:

Original author: Francesca Rea

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Mar
29

Thought Leaders in Healthcare IT: CareDash CEO Ted Chan (Part 1) - Sramana Mitra

Have you experienced the nightmare of finding good doctors? How about getting reimbursed for a telemedicine consultation by your insurance company? This conversation deals with all those issues....

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Original author: Sramana Mitra

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Jun
04

As Americans look to escape, this peer-to-peer RV rental startup is happy to accommodate them

1stdibs began pushing the antiques business into the 21st century long ago. Apparently, investors think it can push further and faster with $76 million in new funding. That’s how much the now-18-year-old, New York-based company says it just closed on for its Series D round, led by T. Rowe Price Associates, with participation from earlier backers Index Ventures, Benchmark and Spark Capital.

The company now boasts a valuation of well over $500 million, it tells the WSJ. Other investors in the new round include Sofina Group, Foxhaven Asset Management, and Allen & Company, as well as Michael Zeisser, who is the former chairman of U.S. Investments for Alibaba Group, and Groupe Artémis, which owns the auction house Christie’s.

1stdibs has always been an interesting startup, one that’s both loved by the antiques dealers who use it, and, apparently, feared. When, in 2016, 1stdibs became heavier-handed about enforcing the commissions from each sale on its platform — and on which it relies for revenue — more than 30 dealers reportedly met at a design store in lower Manhattan to grouse about the development, complaining that the company had begun prizing revenue growth over its relationships.

Of course, with venture-capital funding — and the company has now collected $170 million altogether — comes expectations. And despite pushback from dealers, they’ve apparently stuck with the platform. 1stdibs says an average of 50 items sell for more than $5,000 on its platform daily, and that 15 of these are items that sell for more than $10,000. (A quick scan suggests a very wide range of prices, with many vintage items priced at $5,000 or less, but plenty with far richer tags, like a three-carat ruby and diamond ring available right now on the site for a cool $200,000, and a chandelier dating back to roughly 1870 and selling, someone is hoping, for more than $300,000.)

With venture funding comes competition, too. Though 1stdibs may be the doyen of the online antiques market, other, newer companies eyeing its traction have since emerged on the scene, many of which have also since raised venture funding and are also growing fast, including The RealReal, which was founded in 2011 and is reportedly weighing a public offering; and Chairish, founded in 2013, which sells vintage and used decor.

Chairish has raised just $16.7 million from investors to date. The RealReal has raised $288 million.

In fact, a fight for brand recognition in what’s become an increasingly crowded playing field as the U.S. population ages (and more antiques are dispersed into the world) may ultimately lead 1stdibs to follow a growing number of formerly online-only marketplaces now extending their reach into the offline world.

Though the company already has a New York location, in a block-long, late-19th-century warehouse called the Terminal Stores building, CEO David Rosenblatt tells the WSJ that using its new funding, more brick-and-mortar showrooms may be in its future.

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Mar
29

437th Roundtable Recording on March 28, 2019: With Hemant Mohapatra, Lightspeed Venture Partners - Sramana Mitra

In case you missed it, you can listen to the recording here:

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Original author: Maureen Kelly

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