Fifty cars found in a barn in Pennsylvania are now going up for auction with the help of a YouTube channel specializing in antique cars and hot rods from the World War II era.The collection originally belonged to Larry Schroll, who died in 2018, and is now being auctioned off by his family.Most of the cars are still in drivable condition and will only require a small about of maintenance. Visit Business Insider's homepage for more stories.

Fifty cars were found in a barn in Pennsylvania in 2018, including Ford and Chevrolet cars built in the 1930s. Now, they're going up for auction.

The collection originally belonged to Larry Schroll, who spent the majority of his life collecting classic cars from swap meets while living in Pennsylvania. Schroll died in 2018 and his family inherited the estate, including his secret massive car collection.

The family knew they wanted to auction off the vehicles to avoid the negotiations that come with selling a classic car. They had an auctioneer selected, but the auctioneer told them that he wasn't a "car guy" and couldn't distinguish differences between the collection, Matt Murray of IronTrap Garage told Business Insider.

Overwhelmed by the collection of classic cars, Schroll's family decided to reach out to Murray, who runs the YouTube channel IronTrap Garage that focuses on antique cars and hot rods from the World War II era.

Murray is now helping the family batch the cars to auction off while advertising the collection on his social media, including his YouTube channel that has about 56,600 subscribers.

Keep scrolling to learn about the barn find:

Original author: Brittany Chang

Stokes Adobe, a home and former restaurant in Monterrey, California, is back on the market. The building is reportedly haunted, and has been attached to ghost stories since the tragic deaths of its early owners. The building has been empty since 2017, and the sellers are asking for $3 million.Visit Business Insider's homepage for more stories.

A historic, and possibly haunted, landmark is on the market in northern California.

The Stokes Adobe in Monterey, California was first built in 1833 as a single large room, and it's been expanded over the years since, SFGate reported.  Local legends and stories say that James Stokes, who bought the property in 1837, had a life filled with tragedy in the house. Stokes' past is unclear, but some say he was a British sailor who left his post, while others say that he stole medical supplies and impersonated a doctor.

In 1844, Stokes expanded the house, adding a second floor and several extra rooms, according to SFGate. In 1855, his wife Josefa died at only 39 years old. Within a few years, their oldest son drowned, and in 1864 James Stokes died by suicide, according to local papers.  

Despite the bad luck of its owners, the house was owned by several families until it became a restaurant in the 1950s, which saw Bob Hope, Frank Sinatra, and other celebrities as guests. More recently, the building was Restaurant 1833, an homage to the home's original construction date. Since the restaurant closed, the building has been empty for several years, and some past owners have said that the Stokes haunt the building. 

Now, 500 Hartnell St. is on the market asking $2.975 million, listed with Cicily Sterling at The Agency.

Take a look inside this historic building. 

Original author: Mary Meisenzahl

In a 2008 essay, Paul Graham, one of the founders of Y Combinator, made the argument for starting a company in a bad economy.He believes that the state of the economy is inconsequential compared to the strength of the founding team."If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders," Graham wrote in his 2008 essay. "The economy has some effect, certainly, but as a predictor of success it's a rounding error compared to the founders."Visit Business Insider's homepage for more stories.

About a month before Paul Graham wrote one of the first checks to Airbnb, at the peak of the global financial crisis, he wrote about why to start a company in a bad economy.

The essay was written in October 2008, but it has important lessons for aspiring founders during the coronavirus outbreak. Its effects on the markets represent the first economic crisis after a decade-long bull market, which could make it harder for startups to raise outside funds or hold onto customers.

Graham, one of the founders of Y Combinator, the most successful startup accelerator based on number of exits, explains that the right group of founders can build a thriving company in any conditions.

"It's the people that matter," Graham wrote. "And for a given set of people working on a given technology, the time to act is always now."

You can read the full essay on Graham's website.

Here are five reasons to start a company in a bad economy, according to Graham:

'The state of the economy doesn't matter much either way'

His essay makes the argument that, good or bad, the state of the economy is pretty inconsequential.

Paul Graham address a group of startup founders. Wikimedia Commons

"If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders," Graham wrote. "The economy has some effect, certainly, but as a predictor of success it's a rounding error compared to the founders."

His advice to solo founders is to spend more time on the search for a cofounder. Their contribution has a greater effect on the company's outcome than the state of the economy, Graham said.

'Technology progresses more or less independently of the stock market'

An economic depression is probably not the best time to start a restaurant, as people are likely to eat out less.

The same logic doesn't apply to the technology sector, Graham said.

In his essay, Graham pointed to Microsoft's founding during the 1970s oil crisis as proof. Its first product was a programming language interpreter for an early personal computer, at the start of the personal computer craze.

"That was exactly what the world needed in 1975," Graham wrote, "but if (Bill) Gates and (Paul) Allen had decided to wait a few years, it would have been too late."

'Make things that save money'

An economic depression can be a great time to start company that helps customers save money.

"It's not necessarily a problem if customers feel pinched: You may even be able to benefit from it, by making things that save money," Graham wrote.

The founders of Airbnb almost shut down the business after struggling to raise venture capital. Georgie Wileman/Getty Images

Y Combinator graduate Airbnb provides a case study.

Airbnb's founders had failed to raise venture capital at the end of its first year and nearly called it quits. The startup, which was then called Airbed and Breakfast, entered the accelerator in a last-ditch attempt to save the business.

Graham said in a tweet on Thursday that "one of the reasons they started to grow during the winter was that, during the recession, hosted needed the money to pay their rent."

"Airbnb raised their first round of capital after YC at the worst possible time: March 2009, the month the market bottomed," Graham said in another tweet. "They raised at a pre-money valuation of $2.4 million. It didn't matter. They did fine, because they had made something people wanted."

There will still be jobs for great hackers

"What if you quit your job to start a startup that fails, and you can't find another? That could be a problem if you work in sales or marketing. In those fields it can take months to find a new job in a bad economy," Graham said.

"But hackers seem to be more liquid. Good hackers can always get some kind of job. It might not be your dream job, but you're not going to starve."

'Another advantage of bad times is there's less competition'

In bad times, Graham said founders who would start companies instead go to graduate school. The data suggest a record number of graduate business schools saw increases in the number of applications they received in 2008.

The departure of would-be founders is a good thing for those who are able to build companies.

"Technology trains leave the station at regular intervals," Graham wrote. "If everyone else is cowering in a corner, you may have a whole car to yourself."

Original author: Melia Russell

Reuters; Associated Press

Good morning! This is the tech news you need to know this Friday.

The Pentagon could reconsider its decision to award a major cloud contract to Microsoft after protests from Amazon. The Defense Department said on Thursday that it would re-evaluate the awarding of a $10 billion cloud computing contract to Microsoft after Amazon claimed the decision was interfered with by the Trump administration, the New York Times reports. Google reportedly sent its Bangalore office employees home to work remotely after a worker there tested positive for COVID-19 and was put in quarantine. Google and property managers at the surrounding office park told employees to go home and work remotely, according to CNBC.Microsoft is canceling its massive Build developer conference due to the coronavirus outbreak, and will do it online instead. Other companies, including Google, Facebook, and Amazon, have similarly canceled their developer conferences, opting instead to take them online.France's competition watchdog is set to fine Apple over anti-competitive behaviour. The watchdog could look to fine the iPhone manufacturer over anti-competitive practices in its distribution and sales network, Reuters reports.TikTok is filled with dark jokes and conspiracies about a notorious child kidnapping case. Clips featuring hashtags associated with the disappearance of Madeleine McCann have received almost 5 million views. SpaceX asked a major European astronomy group for a meeting after it published a concerning paper about Starlink's effects on telescopes. SpaceX has taken heat from some in the astronomy community for launching its satellites despite concerns that they could interfere with research.SoftBank has been spending increasing amounts on lobbying in a bid to aid its startups. The company's lobbying bill climbed to $1.94 million in 2019, a step up from $225,000 in 2018, according to filings with Congress, Bloomberg reported. AT&T is lifting all internet data caps and Comcast is cutting some introductory service fees in response to the shift to more home use amid the coronavirus outbreak. AT&T is lifting overage fees and removing internet data caps for home broadband internet amid the significant changes that millions of Americans are going through due to coronavirus concerns.Russian trolls have become more sophisticated ahead of the 2020 Presidential election by moving their operations to West Africa. Unlike in 2016 where much of the trolling of the election came from St. Petersburg now accounts are operated out of Ghana and Nigeria, CNN reports.Two former Apple execs are building a startup for people who want a healthier relationship with technology. Bethany Bongiorno and Imran Chaudhri founded Humane, a hardware and software startup currently operating in stealth, after running parts of Apple's hardware business.

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Original author: Callum Burroughs

Microsoft is canceling its Build developer conference – one of its largest events of the year – and moving it online, citing health concerns amid the spread of coronavirus.

The event was slated to be held on May 19 to 21 in Seattle, and had around 6,000 attendees in 2019.

"The safety of our community is a top priority," Microsoft said in a statement to Business Insider. In light of the health safety recommendations for Washington State, we will deliver our annual Microsoft Build event for developers as a digital event, in lieu of an in-person event. We look forward to bringing together our community of developers in this new virtual format to learn, connect and code together. Stay tuned for more details to come."

King County, where Microsoft is headquartered and where Build was scheduled to be held, is an epicenter of the coronavirus outbreak in the US.

Microsoft's peers, including Facebook, Google, and Amazon, have similarly canceled many of their massive developer events and moved them online, in a bid to stem the spread of the virus.

Microsoft has had at least two COVID-19 cases among employees. The company has advised most employees to work from home, but is asking some sales people to continue working.

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Original author: Ashley Stewart

 

Google Bangalore employees have been told to work remotely. REUTERS/Hannah McKay

An employee in Google's office in Bangalore, India, has tested positive for the coronavirus disease, COVID-19, and has been placed in quarantine, CNBC reported on Thursday.

Google, as well as the property managers of other buildings in the surrounding office park, instructed employees there to go home immediately and continue working remotely, according to CNBC.

In an email to employees, Google said the individual had contracted the disease while traveling overseas and had been in the office Monday, but was initially asymptomatic and had passed temperature screenings, CNBC reported.

The earliest known case of a Googler testing positive for COVID-19 was first reported at the end of February by Business Insider. Shortly after, the company restricted all international employee travel in an effort to slow the spread of the virus, also first reported by Business Insider.

Earlier this week, Google advised all employees based in North America that they should work from home if possible, joining other companies in taking more aggressive measures to protect employees and communities as the outbreak worsens.

Google did not immediately return a request for comment.

Original author: Tyler Sonnemaker

The Pentagon on Thursday in a court filing said it "wishes to reconsider" its decision to award the $10 billion JEDI cloud computing contract to Microsoft.Microsoft's win of the JEDI deal was seen as a huge upset: Amazon Web Services was viewed as the frontrunner throughout the entire bidding process — but lost out amid what Amazon says was interference from President Donald Trump, a frequent critic of Amazon and its CEO Jeff Bezos.Amazon has challenged the decision in court, and a judge recently said the company would likely be able to prove the Pentagon made an error in the bidding process, and that the error likely affected the outcome.The Department of Defense is asking the court to remand the case to "reconsider certain aspects of the challenged agency decision," but that it won't seek bids from any other companies. View Business Insider's home page for more stories.

The Department of Defense on Thursday in a court filing said it "wishes to reconsider" its decision to award the $10 billion JEDI cloud computing contract to Microsoft, citing very specific challenges from Amazon on technical aspects of the Microsoft Azure cloud.

Amazon Web Services, the other frontrunner for the contract, has alleged in a lawsuit that the JEDI award process was unfairly biased amid President Donald Trump's frequent criticism of Amazon, and that Microsoft's Azure cloud didn't meet the technical requirements set forth by the Pentagon.

"We believe the Department of Defense made the correct decision when they awarded the contract," Microsoft spokesman Frank Shaw said. "However, we support their decision to reconsider a small number of factors as it is likely the fastest way to resolve all issues and quickly provide the needed modern technology to people across our armed forces."

"We are pleased that the DoD has acknowledged 'substantial and legitimate' issues that affected the JEDI award decision, and that corrective action is necessary," an AWS spokesperson said in a statement. "We look forward to complete, fair, and effective corrective action that fully insulates the re-evaluation from political influence and corrects the many issues affecting the initial flawed award."

In the filing, the Department of Defense says that its decision to seek a reconsideration of the deal comes "in response to the other technical challenges presented by AWS."

Specifically, the Pentagon is requesting the court remand the case to the Department of Defense for 120 days to "reconsider certain aspects of the challenged agency decision." The filing also indicates that the Department of Defense won't seek additional bids from any other companies, but that it will rather reassess Microsoft Azure versus Amazon Web Services in light of the specific technical points raised by Amazon. 

In what appears to be a tacit admission that Amazon has a legal case, the Pentagon also said its motion is "in the interests of justice it will provide the agency with an opportunity to reconsider the award decision at issue in light of AWS's allegations."

The Pentagon also said it will propose that Microsoft and Amazon "file a joint status report" on whether the legal case should proceed.

The Pentagon awarded the $10 billion JEDI contract to Microsoft, in a stunning defeat for Amazon, whose Amazon Web Services — the dominant player in the cloud — was widely expected to win the project for building a massive platform that would store sensitive military and defense data. Amazon Web Services and Microsoft were selected as the two finalists in a contentious bidding process that initially included Oracle, IBM, and Google.

Amazon has challenged the decision in court. In a newly unsealed filing, Amazon claimed the bidding process was "incurably tainted" by political interference by President Donald Trump — evidenced, it says, by the Defense Department allegedly refusing to answer its questions.

Trump is a frequent critic of Amazon CEO Jeff Bezos and the Washington Post, which Bezos also owns. 

A federal claims judge ordered work on the contract to stop while the case plays out. The judge also recently gave an indication that Amazon's challenge could be successful, writing in a that AWS can likely prove the Pentagon made an error in the evaluation process and that the error affected the outcome. Microsoft disagrees.

When the Department of Defense solicited bidders for JEDI, a requirement for one aspect of the proposal called "Price Scenario 6" was for online storage to be "highly accessible." Amazon alleges Microsoft's proposal did not meet that requirement.

Amazon alleges it should have been enough to eliminate Microsoft from the competition. The judge said Amazon is likely to be able to prove the DoD improperly evaluated Microsoft's proposal, and that Amazon's "chance of securing the award was not insubstantial absent the error."

"DoD does not intend to conduct discussions with offerors or to accept proposal revisions with respect to any aspect of the solicitation other than Price Scenario 6," the DoD said in the filing. "At this time, DoD does not anticipate clarifications being necessary on issues other than the offerors' online marketplace offerings."

Microsoft earlier this week told Business Insider its proposal does meet the requirement, and the DOD argues Amazon "seeks to elevate superficial labels over technical performance," and that if Microsoft's proposal didn't meet the requirement, neither did Amazon's.

Here's Microsoft's full statement from spokesperson Frank Shaw:

"We believe the Department of Defense made the correct decision when they awarded the contract. However, we support their decision to reconsider a small number of factors as it is likely the fastest way to resolve all issues and quickly provide the needed modern technology to people across our armed forces. Throughout this process, we've focused on listening to the needs of the DoD, delivering the best product, and making sure nothing we did delayed the procurement process. We are not going to change this approach now.

Over two years the DoD reviewed dozens of factors and sub factors and found Microsoft equal or superior to AWS on every factor. We remain confident that Microsoft's proposal was technologically superior, continues to offer the best value, and is the right choice for the DoD."

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Original author: Ashley Stewart and Benjamin Pimentel

Amazon's performance obligations, mostly related to Amazon Web Services, grew 54% to a record $29.8 billion in its most recent quarter, according to company filings.The growth in performance obligations show AWS is likely signing up more large enterprise customers who prefer long-term contracts.But the coronavirus could slow the pace of enterprise growth for AWS, as travel bans and conference cancellations make it harder to close deals.D.A. Davidson's Tom Forte says the impact will likely show up in future quarters as the coronavirus started affecting US businesses in the second half of this quarter.Visit Business Insider's homepage for more stories.

Amazon Web Services has been focused on signing up more large business customers in recent years, as it continues to expand beyond the tech startup community that first adopted its cloud technology.

That shift is important because large businesses typically sign longer-term contracts — unlike smaller companies that prefer the pay-as-you-go model — making them a bigger and more predictable source of revenue.

One figure from Amazon's annual filing reflects that transition: performance obligations. 

Performance obligations, which Amazon says is "primarily related to AWS," represent the total value of signed contracts that haven't been recorded as revenue because the service hasn't been delivered yet. For example, if a company signs a three-year deal, only the first 12 months worth of contracts are recorded as revenue over the course of the first year, while the rest of the contract goes to performance obligations.

Amazon's performance obligations, or backlog revenue, jumped 54% to a record $29.8 billion in its most recent quarter, according to company filings. That's almost a 2.5-times growth since the first quarter of 2018, when Amazon first started disclosing the figure. The remaining life on those contracts is on average 3.3 years, meaning Amazon expects to convert most of its performance obligations to revenue over that stretch.

Lee Horwitz, an analyst at Evercore Partners, told Business Insider that most of Amazon's performance obligations likely come from contracts signed by larger enterprises who are making longer commitments to AWS. The 54% growth in backlog revenue last quarter is bigger than AWS's overall revenue growth of 34%, signaling faster adoption among large businesses than small companies, he said.

"It's a good leading indicator of overall enterprise demand," Horwitz said. "We see AWS's enterprise growth outpacing small and medium size business growth at this point."

AWS is no stranger to serving large businesses. It's been the cloud provider for Netflix and Airbnb for a long time, and has a giant contract with the CIA as well. But as more companies move their entire computing needs to the public cloud, AWS is seeing a more diverse group of enterprise customers in different verticals, including healthcare, finance, and energy.

At last month's Goldman Sachs Technology and Internet Conference, AWS CEO Andy Jassy highlighted this shift, saying it's one of the biggest changes he's seen in its business over the past six years. While companies like Slack and Pinterest started using AWS since they were small startups, he said a growing number of big companies like Goldman Sachs and GE are now using it as well.

"In the early days of AWS, it was mostly startups building their businesses from scratch on top of AWS," Jassy said. "What's happened over the last six years is that the enterprise and public sector have very rapidly adopted AWS in the cloud."

Even compared to some of its peers, Amazon's performance in obligations growth is noticeable. Microsoft's number grew 29% in its most recent quarter, while Salesforce's saw 20% growth from the year-ago period. Google disclosed $11.4 billion in performance obligations for the first time last quarter. While it's difficult to do an apples-to-apples comparison with these figures, given each company includes different cloud services in its calculation, it still gives good context in how fast Amazon's enterprise portion is growing.

"It's an eye-popping number that speaks to the underlying demand Amazon is seeing from AWS build-outs over the coming year," said Dan Ives, an analyst at Wedbush Securities.

AWS reported $35 billion in sales last year, a 37% increase from the previous year. So far this year, AWS announced Carrier, 3M, and the German soccer league Bundesliga as new business customers.

But the pace of AWS's enterprise growth could be affected by the coronavirus, according to D.A. Davidson's analyst Tom Forte. As more companies put in travel bans in place and cancel customer conferences, every software company, including AWS, could find it more difficult to close deals, he said. Amazon, for example, has been significantly expanding its enterprise salesforce in recent years, as most enterprise customers prefer doing business in-person.

In fact, Salesforce disclosed in its annual filing that the coronavirus is now a risk factor as the company cut back on customer events and faces a slower spending environment. 

"These conditions can affect the rate of IT spending and could adversely affect our customers' ability or willingness to attend our events or to purchase our enterprise cloud computing services, delay prospective customers' purchasing decisions, reduce the value or duration of their subscription contracts, or affect attrition rates, all of which could adversely affect our future sales and operating results," Salesforce wrote in its filing.

In a note published this week, D.A. Davidson also said software companies that rely on traveling sales reps and user conferences to sell to large enterprises are most impacted by the coronavirus. While it didn't mention AWS, the note said companies like Salesforce and Workday could see increased risk in the current environment "given the travel bans and conference cancellations (along with the accompanying lower business confidence)." Forte said the impact will likely start to show up in future quarters as the coronavirus only started to affect US companies in recent weeks. 

"There is a risk — but it looks like there is a greater risk to the June quarter than to the March quarter," Forte said.

Original author: Eugene Kim

Slack says it has been seeing an uptick in new users for its free product, but that it is too early to tell how that will impact the business.CEO Stewart Butterfield said much of that new usage is in countries most affected by the coronavirus: like Italy, South Korea and Japan. Slack's true growth comes from signing on large customers, like IBM and Uber, which could be harder to do due to coronavirus because of less travel and an uncertain economic climate, the company said on a call with analysts after its earnings report on Thursday. Click here for more BI Prime stories.

As a workplace communication app, Slack is an ideal tool to help a new wave of remote workers do their jobs amid the spread of coronavirus.

And on Thursday Slack confirmed that it has seen an uptick in new users — but said it's too early to tell if those users will become paying customers and boost its business.

Since Slack has a freemium model where users can get a streamlined version of the product for free before paying for more features, most new users are using Slack's free product. CFO Allen Shim said on a call with analysts after Slack reported earnings that the company is seeing a "significant spike in created teams which typically start out as free."

Shim and CEO Stewart Butterfield added that it is too soon to tell if any of that new usage will translate to paying customers and increased revenue for the company, and that it's difficult to predict what might happen given how uncertain the business environment is at the moment.

"At this time we don't have a clear idea of the net impact of the macro environment on our business, which is another way of saying that there is more uncertainty than normal in our forecasting. You'll see this reflected in our guidance," Butterfield said on the call with analysts.

Butterfield said the company is seeing much of that new usage in countries most affected by the coronavirus: like Italy, South Korea and Japan. They've also had existing customers reach out to the company about increasing their usage faster than originally planned. 

"There is just a massive outpouring of interest on the customer side, and it's really all over the place ... So a lot of this is unfolding in real time," he added.

Slack's true growth comes from signing on large companies, like IBM and Uber as Business Insider previously reported, as customers. The company says it now has 70 paid customers who pay more than $1 million annually, and 839 paid customers paying over $100,00 annually. 

Those deals take time to cultivate and close, so the company is anticipating that might be impacted by the coronavirus, reflected in the lower than expected guidance Slack gave for the next quarter. 

Slack has asked all employees to work from home and cancel all non-essential work travel.

"While the pipeline currently remains healthy, we see risk due to increased customer uncertainty and travel disruption, particularly in the enterprise segment," Shim said. 

The uncertainty caused by coronavirus also means that companies might be more conservative about what they're spending money on. Butterfield said that new customers have told him that signing a deal with Slack might be the last deal they sign for a while.

"Last week, so not in Q4, but we closed a deal with one of the world's biggest asset managers. I got an email from the CTO the day he signed saying, 'Hey, look I signed, just FYI, this was the last deal I'm signing before the doors close," he said.

Ultimately Butterfield thinks that even if it's hard to predict the impact on business from coronavirus, the huge spike in remote work will have some lingering effects on behavior and companies will have to change.

"Those really radical shifts in behavior that happen over a short period of time, we're going to have some lingering effects that I think organizations who previously had been really resistant to distributed workforces are probably going to open up a little bit," Butterfield said. 

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Original author: Paayal Zaveri

Y Combinator's rite of passage, the famous 2-minute pitch to a room packed with potential investors, is the latest victim of the coronavirus pandemic. 

Startups that are part of Y Combinator's "accelerator" program, which includes coaching and seed stage funding, learned last week that this year's Demo Day was going virtual. Instead of presenting their fledgling business ideas in front of a crowd, the startups would submit video recordings of their pitches for investors to watch. 

Now, Y Combinator has decided that it will do away entirely with the custom of founders talking up their business at this year's Demo Day and that startups in the program will not even make pre-recorded video pitches. Y Combinator will instead feature individual slides about each startup for investors to peruse on a special Demo Day portal.

"Through the website, investors will have access to a single-slide summary, a short description of the company, and a team bio. They can sort companies by industry and geography, and will be able to export the list of companies to a spreadsheet," Y Combinator President Michael Seibel wrote in a blog post announcing the changes Tuesday.

Y Combinator justified the change as part of an effort to speed up the pitch process because investors are moving fast to make investment decisions.

"As we shared on Friday, we know startup investors will continue to support our newest batch — just as they have for the last 15 years. The activity over the last week has shown us that the community surrounding YC is as strong as ever," Y Combinator President Michael Seibel wrote in a blog post announcing the changes Tuesday.

Since it began 15 years ago, Y Combinator's startup program has seen some of Silicon Valley's most famous names pass through it, including Airbnb, DoorDash and Stripe. The new format of the Demo Day ritual this year will represent a big break from tradition and a curveball for startups looking to attract the backing of powerful VC firms.

Without prerecorded pitches, many founders have turned the focus back onto their companies instead of working out the perfect pitch. It has also changed Y Combinator's timeline — the accelerator announced that the slides would be available to investors starting March 16, a full week before the originally planned Demo Day and its virtual replacement.

"Demo Day moving online, I really see that as a positive for us," Motion cofounder and CEO Harry Qi told Business Insider. Motion is among the accelerator's current batch and was originally planning to present in front of thousands of investors on Demo Day in San Francisco.

"We have more time to work on the startup instead of having to fine-tune the presentation. I probably would have to spend five hours to make it perfect, but now I can just build and code more."

But both investors and founders have started to question the logistics and value of Demo Day, which had to cover two full days of pitches in September to accommodate the growing batches of startups that made it through the program. In its earliest days, founders would pitch cofounder Paul Graham and a handful of outside investors in small rooms in Boston and Mountain View. As the accelerator's acclaim has grown, so too has its batches of startups. To stand out against the noise, many founders have started pitching investors before Demo Day even begins, and some have signed deals before stepping out onto the stage. 

Although Y Combinator has said investor interest remains on par for previous Demo Days, there is a not-insignificant chance that many startups graduating from its most recent program may not see their funding targets either because they were lost in a 250-slide deck or because they did not meet investors before San Francisco became a coronavirus hotbed. 

Either way, the fate of Y Combinator's 2-minute pitch format, the likes of which have minted breakout hits like Airbnb, Stripe, and Coinbase, is now up for debate. It will be up to this batch, Y Combinator's biggest ever, to seal the deal.

Original author: Megan Hernbroth

The novel coronavirus outbreak has forced thousands into mandatory or elective quarantine.Online, many are seeking ways to cope with growing anxiety, boredom, and isolation. Numerous virus-inspired Spotify playlists have appeared on the platform in recent weeks. Visit Insider's homepage for more stories.

As thousands adjust to life in quarantine, a plethora of coronavirus outbreak-inspired playlists are popping up on Spotify. With names like "melodic future bass songs that make me forget about coronavirus," these playlists provide a surprisingly intimate look at how people across the globe are feeling about and coping with the ongoing crisis. 

 

Carlotta Freni — who works in the music industry and has lived in Milan, Italy for 13 years — created her quarantine playlist "Songs for Pandemics" after the Lombardy region's lockdown began on February 23. That lockdown now includes the entire country, as the number of infections and deaths continues to climb.

"To me, music is the primary way to communicate feelings and to seal a particular moment or history inside our memories," Freni wrote in an email interview. 

Dubbing the 23rd "the day of the Italian rage at the supermarkets," Freni recalls going to the nearest supermarket to photograph the empty shelves and experiencing for the first time "the fear and the disorder of a scared crowd." The following day, she created the playlist and used one of the ghostly supermarket photos as a cover image. 

"I was conscious that we had to stay at home in order to prevent a sanitary disaster," Freni wrote in an email interview. "So I decided to create a playlist for my friends, in order to share with them some good sounds and vibes, and let the day flow."

To be faithful to this "unique period in our recent history," Freni decided to include an eclectic mix of new releases from the past few weeks, songs by artists who canceled gigs in Milan to prevent contagion, songs about crisis, and "songs from the past" that "let the listeners both dance and meditate." Lastly, Freni added, she tried to put listeners in a good mood with a playlist that is equally joyful and melancholic. Her friends loved it. 

"I'm happy to have contributed to their wellness in a very simple way," Freni wrote. 

The most popular playlist to emerge from the outbreak, however, was "COVID-19 Quarantine Party," which boasted more than 35,000 followers before its name was deleted after Insider contacted the creator for comment. The tracklist conveys a sense of resigned acceptance with titles like "The Kids Don't Stand a Chance" by Vampire Weekend, "You Sound Like You're Sick" by The Ramones, and "Time Is Running Out" by Muse. 

This "Coronavorus Hand Washing Playlist" created by user jenntrev, on the other hand, serves a functional purpose. All 51 songs on the playlist have "a chorus/pre-chorus of at least 20 seconds for you to sing or hum (either aloud or in your head) while washing your hands to ensure you meet the handwashing guidelines set forth by the CDC." 

But the prevailing attitude expressed through these playlists is one of growing civil unrest co-mingled with a need for distraction and escapism. Take, for example, this "*corona virus intensifies*" playlist put together by user chrislax123, which bounces from optimistic tracks like Taylor Swift's "Shake It Off" and Ed Sheeran's "I Don't Care" to songs that hint at darker and more conflicted emotions, like "Stressed Out" by Twenty One Pilots and "The Age of Worry" by John Mayer. 

That said, if you're too anxious for Top 40 hits, user Listen2Listed has you covered with "Coronavirus beats to chill/hide in my room to," a playlist dedicated to soothing, lo-fi hip hop. 

Spotify did not immediately respond for comment. 

Read more:

Original author: Hanna Lustig

Oracle CEO Safra Catz said it is still unclear how the coronavirus crisis could impact the tech giant's business. "We're largely conducting  business as usual," she told analysts on the company's earnings call. Oracle shares rallied late Thursday on better-than-expected results.Valoir analyst Rebecca Wetterman told Business Insider: "I'd expect we'll see the real hit come a few quarters from now, when companies that would have been on the verge of buying in the next few months slow their buying decisions."Click here for more BI Prime stories.

Oracle CEO Safra Catz said Thursday it was too early to say if the coronavirus crisis will have a significant impact on the tech giant.

"We're largely conducting business as usual, with some modifications, such as using video conferencing, and asking our employees to postpone nonessential travel," she told analysts on the company's quarterly earnings call.

"We're seeing other companies take precautionary actions," Catz said. "It's not yet clear what the effect of the virus will have on our customers and suppliers."

Oracle posted better-than-expected financials which sent the company's stock rallied in late trades, although it shed 11% in the regular session as the broader market retreated.

Oracle has been pivoting to a more cloud-focused business model based with revenue driven mainly by subscriptions, instead of licenses.  The company is struggling to establish a stronger presence in the cloud, where it is competing with stronger rivals like Amazon, Microsoft and Google.

How the pandemic and the looming economic downturn will impact Oracle's transformation was clearly top of mind for some Wall Street analysts.

"You guys have been in uncertain times before," one analyst said. Referring to the two last major economic slumps, he continued: "Can you maybe contrast a little bit Oracle today with its recurring revenue stream versus where we were at 2008, where this is where we were in 2001."

Oracle founder Larry Ellison said the tech giant is a stronger position this time around.

"Our business is much less not a one time license business," he said. "More and more of it is subscription based and recurring. Our business has changed radically from the time of the internet, the internet bubble up from 2001 to 2008. It's a very different situation."

Valoir analyst Rebecca Wetterman said the company reported "a really strong quarter driven by its cloud business." 

"There's a lot of uncertainty out there, certainly, but their cloud revenues are somewhat insulated from that in the short term because they're already committed," she told Business Insider. "I'd expect we'll see the real hit come a few quarters from now, when companies that would have been on the verge of buying in the next few months slow their buying decisions."

Oracle reported a quarterly profit of $2.57 billion, or 79 cents a share, compared with a profit of $2.75 billion, or 76 cents a share. Revenue slipped 2% to $9.78 billion. Adjusted profit was 97 cents a share.

Analysts were expecting Oracle to post a profit of 96 cents a share on revenue of $9.75 billion.

Got a tip about Oracle or another tech company? Contact this reporter via email at This email address is being protected from spambots. You need JavaScript enabled to view it., message him on Twitter @benpimentel or send him a secure message through Signal at (510) 731-8429. You can also contact Business Insider securely via SecureDrop.

Original author: Benjamin Pimentel

AT&T is lifting overage fees and removing internet data caps for home broadband internet amid the significant changes that millions of Americans are going through due to coronavirus concerns.Not all internet service providers have data caps in the first place.  Comcast also announced that it's offering its Essentials internet service designed for low-income families free for 60 days to new customers. The service typically costs $9.95 per month. Comcast also said it's increasing the speeds of its Essentials internet service from 15/2 Mbps to 25/3 Mbps.Visit Business Insider's homepage for more stories.

Two major internet service providers are making changes to their home internet broadband plans and services as a result of the impacts of coronavirus concerns in the US that's leading millions of Americans to work and learn from home. 

AT&T is reportedly lifting overage fees and data caps when many Americans are being told by their employers, schools, and institutions to stay home, according to Motherboard. 

AT&T confirmed Motherboard's report, specifying that many of its customers "already have unlimited home internet access, and we are waiving home internet data overage for the remaining customers."

Not all internet service providers have data caps or charge overage fees for their home broadband internet services. 

Comcast told Business Insider that it is offering its Essentials internet service designed for low-income families free for 60 days for new qualifying customers where Comcast internet is available in response to the effects that coronavirus is having on Americans' daily lives. "As schools and businesses close and families are encouraged, or even mandated, to stay home, Internet connectivity becomes even more important," Comcast's Dana Strong said in a statement. 

The typical price for Comcast's Essential service is $9.95 per month. 

Comcast also told Business Insider that will increase the speeds of its Essential internet service from 15/2 Mbps to 25/3 Mbps for all new and existing customers. These new speeds will remain the standard moving forward, the company said.

So far, internet service provides and telcos haven't shown that their networks and infrastructure are being overloaded, or even significantly affected, by a shift from offices and schools to homes. 

Spectrum told Business Insider in a statement that its network "is built to sustain maximum capacity during peak usage, which is typically in the evenings, so a surge during the day would be well within our capabilities to manage."

Altice sent Business Insider a statement saying the company has "been investing in technology and increasing network capacity to meet the growing demands of our "always online" culture, and this includes having in place proper contingency plans to ensure service continuity for our customers."

 

 

Original author: Antonio Villas-Boas

Amazon is telling all of its employees worldwide to work from home if their jobs can be done remotely, as coronavirus continues to spread."We are now recommending that all of our employees globally who are able to work from home do so through the end of March," Amazon's spokesperson said in a statement to Business Insider.But that likely excludes the vast majority of warehouse workers who pack and ship all the packages Amazon handles every day, as most of their work can't be done off-site.Amazon currently employs almost 800,000 people worldwide.Visit Business Insider's homepage for more stories.

All Amazon employees around the world who are able to do their jobs remotely are asked to work from home, as coronavirus continues to spread.

In an email to Business Insider, Amazon's spokesperson confirmed that the company is now asking all of its employees worldwide to work from home if they can.

The work from home mandate only applies to employees who can do their jobs remotely. That means most of the office workers are now working from home. But the vast majority of warehouse workers who pack and ship Amazon's packages every day are likely excluded from this accommodation. Amazon currently employs almost 800,000 globally.

"We continue to work closely with public and private medical experts to ensure we are taking the right precautions as the situation continues to evolve. As a result, we are now recommending that all of our employees globally who are able to work from home do so through the end of March," Amazon's spokesperson said.

The move is made as concerns over the coronavirus grows around the world. More than 127,000 people have been affected by the virus, with over 4,700 deaths reported worldwide.

Amazon announced on Wednesday that it's creating a $25 million relief fund to support its delivery partners and contractors impacted by COVID-19. It also previously said that all hourly employees will continue to get paid during the time they work from home, and get unlimited unpaid time off through the end of March. All Amazon employees diagnosed with COVID-19 will get up to two weeks of pay, it said. 

The change is the latest preventive measure Amazon has taken in response to the growing risk of the spread of coronavirus.

Last month, Amazon made last-minute orders to stock up on inventory shipped from China in anticipation of supply-chain slowdowns caused by the outbreak in the region. It also advised third-party sellers on its site to take precautions, like canceling previous orders the sellers are no longer able to deliver. Meanwhile, it banned over 1 million products on its site that falsely claimed to cure or defend against the coronavirus disease.

Internally, Amazon told all 798,000 of its employees to avoid "non-essential travel" domestically and internationally because of concerns over the disease. The worldwide-operations team, which runs all logistics and shipping, was instructed not to plan any meetings that require travel until at least April. It also replaced some in-person job interviews with video calls. 

Original author: Eugene Kim

As the coronavirus impacts workplaces around the world, Michael Roth, CEO of ad agency holding company IPG, sent a memo to all 55,000 employees saying all its offices will stay open for business, though employees can ask managers to work from home.Roth encouraged staff to take steps to comply with local regulations and minimize risk, such as avoiding large meetings and staggering work schedules.The update came after one of IPG's agencies, Weber Shandwick, confirmed that two employees at its New York headquarters had been exposed to someone who later tested positive for the virus. Other ad holding companies, including Omnicom, Publicis, and Dentsu, have closed offices due to confirmed or suspected cases of coronavirus and having people work remotely. WPP is now allowing employees to work remotely.Click here for more BI Prime stories.

With the coronavirus spreading, ad holding company IPG sent a memo to employees saying all of its offices at its 100-plus agencies, most of which are in the US, will stay open.

The company has about 55,000 employees around the world at agencies including McCann, Deutsch, and PR firm Weber Shandwick.

The update arrived after Weber Shandwick confirmed that two employees at its New York headquarters had been exposed to someone who later tested positive for the virus. 

CEO Michael Roth's full memo is printed below.

As for other holding companies, WPP also is remaining open while letting employees work remotely. Omnicom, Publicis, and Dentsu have closed offices due to confirmed or suspected cases of coronavirus and had staff work remotely.

Roth encouraged regional leadership to follow local guidelines as they're updated and take additional steps so the offices can operate "with lower population density," such as staggering work schedules or discouraging meetings of 10 people or more.

He also said employees who want to work from home should approach managers and that most major business units have already conducted remote work tests, as ad agency R/GA did on Wednesday.

Read the full memo below.

To All Employees:

With the constantly evolving situation surrounding COVID-19, we are providing you with an update on our work from home policy.
  
Our major business units have successfully conducted working remotely tests. And our priority remains the safety and well-being of our people, partners and clients. As such, we are encouraging our employees in markets where the COVID-19 virus is spreading, notably in North America and several European markets, who can work from home to talk with their managers about doing so, in order to ensure your well-being and that of your community. Of course, it's also a given that our people must continue to deliver on client and business responsibilities, whether in the office or working remotely, as many of our colleagues in Asia have been doing successfully for some time now.
 
We want to reiterate that IPG, our companies and all our offices are staying open for business. We are asking regional leadership to follow local guidance and communicate logistical plans to our people – like staggered work schedules – so that offices remain open, but with lower population density.
 
If your role necessitates that you come into the office, you should talk with your manager to develop a working plan that addresses any concerns you may have, or reach out to your local HR representative.

We have asked all IPG agencies to limit non-essential travel and in-person meetings that involve more than ten people, if the meeting can instead be conducted via video conference or other means. In addition, if you are sick or have recently not felt well, please seek medical attention immediately and do not come into the office. For our New York area employees, there is a new hotline with information about COVID-19, including how to be tested: +1 888-364-3065.

Most important, we want to ensure that all of us continue to act in a way that is consistent with IPG's values, focusing on the facts of the virus rather than fears about particular groups of people or casting blame on particular cultures or nationalities. We encourage everyone to refer to the CDC's guidance on stigma and resilience.

We appreciate all of your cooperation and continued hard work and focus during this especially challenging time.

In the interim, please check our COVID-19 watch page regularly, and please let IPG, your manager or your HR lead know if you have any questions.

Michael Roth
Chairman & Chief Executive Officer, IPG

Original author: Patrick Coffee

Oracle, Twitter, Apple, Google, Microsoft, Amazon, and other major companies have restricted employee travel because of the coronavirus outbreak.To safeguard employees from the outbreak, companies in Europe, Asia, and the US have started asking their employees to work from home as a precautionary measure.As of Wednesday, there are about 121,000 confirmed cases of coronavirus, the majority of which is in China. The COVID-19 virus has spread to more than 100 countries. There are currently around 750 confirmed cases of it in the US, including the people who were stranded on the Diamond Princess cruise ship in Japan.Visit Business Insider's homepage for more stories.

The novel coronavirus has killed more than 4,000 people, as of Wednesday, and there are about 121,000 confirmed cases worldwide across in at least 81 countries, with six COVID-19 related deaths in the US.

As the coronavirus spreads across other parts of Asia, Europe, the Middle East, and the US, major companies like Microsoft, Hitachi and Chevron are asking their workers to work remotely as a measure against the rapidly-spreading disease.

Similarly, major companies like Oracle, Twitter, Apple, and Nestlé are restricting all non-essential business travel to keep the virus from spreading.

This is a developing story, check back for updates.

Original author: Joey Hadden, Laura Casado and Tyler Sonnemaker

The NYPD tweeted in all caps that the New York City subway system would not shut down, addressing a viral rumor about the novel coronavirus."THERE IS A LOT OF MISINFORMATION ON SOCIAL MEDIA," the tweet said. "ONE TWEET IN PARTICULAR IS FALSE. CONTRARY TO WHAT IT SAYS THERE ARE NO PLANS BY THE NYPD TO SHUT DOWN ROADWAYS OR SUBWAYS."Mass fake-news texts have been circulating that tell New Yorkers to stock up on groceries, water, and cash because subways are going to shut down or be limited.Visit Business Insider's homepage for more stories.

In the middle of the growing coronavirus panic in New York City, the New York City Police Department tweeted an all-caps dismissal of a viral rumor that's been spread through mass texts and on social media.

"THERE IS A LOT OF MISINFORMATION ON SOCIAL MEDIA," the tweet said. "ONE TWEET IN PARTICULAR IS FALSE. CONTRARY TO WHAT IT SAYS THERE ARE NO PLANS BY THE NYPD TO SHUT DOWN ROADWAYS OR SUBWAYS."

The NYPD didn't link to the tweet it was referencing, but mass fake-news texts have been circulating that suggest otherwise. One of the widely shared texts alleges someone's coworker said on Slack they had lunch with Emma Bloomberg, former New York City Mayor Mike Bloomberg's daughter, and that her phone "was going off like crazy."

The text, which is false, goes on to allege that NYC Mayor Bill de Blasio and New York Gov. Andrew Cuomo are "likely going to announce a quarantine of NYC" on Thursday or Friday, which could result in the subway shutting down, so text recipients are urged to buy groceries immediately.

Another widely circulated fake-news text message says someone's friend of a friend who works in emergency management at the NYPD said the subway would be limited, with parts shutting down entirely, and that only emergency vehicles would be allowed on the road. That text recommends recipients stock up on food, water, and cash "because groceries and atm machines will have limited ability to be refilled."

Both texts are misinformation, and there have been no official steps to quarantine New York or stop public transportation.

Original author: Kat Tenbarge

As travelers and event-goers stay home during the coronavirus pandemic, companies are taking a hit and some are laying off employees. 

From airlines like Norwegian to events like South by Southwest, workers around the world are feeling the impact of the coronavirus. 

Here's a list of companies laying off employees due to the pandemic.

Work at a company that cited the coronavirus as a resaon for layoffs? Contact the reporter of this piece, Bryan Pietsch, at This email address is being protected from spambots. You need JavaScript enabled to view it.

Original author: Bryan Pietsch

It's easy to see message requests on Instagram if users you don't follow send you a direct message. When users who you don't follow send you direct messages, their messages will appear as message requests that you can accept or decline. You can also block their account from the same screen.Message requests aren't marked as seen unless you accept it.Visit Business Insider's homepage for more stories.

Users who you don't follow are able to send you direct messages on Instagram. 

Unlike messages sent by your contacts, these messages appear as message requests in the Instagram direct message folder. 

Here's how to see message requests on Instagram.

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How to see your message requests on Instagram, and manage them

1. Log into your Instagram account. On your Instagram feed, select the arrow in the top right corner. This will display your direct messages. Note that the arrow will have a red number above it to indicate messages that contacts have sent you. When a user who you don't follow sends you a message, the arrow will remain white.

2. Message requests will appear on the right side immediately underneath the search bar.

3. Click on the "# request" text to open up your message requests.

You will see the number of request message at the upper-right hand corner. Kelly Laffey/Business Insider

4. Select the message by clicking on it.

5. Here, you'll be prompted to "Accept," "Delete," or "Block" the message and user. Note that message requests aren't marked as seen unless you accept it.

6. Hit "Accept" to respond to the message. If you hit "Decline," the message will disappear.

7. If you hit "Block," you can then opt to ignore the message, block the account or report the user. By ignoring a message, you won't be notified when they message you directly, but you can still access the chat from the user's profile.

You can choose to ignore, block, or report the user. Kelly Laffey/Business Insider

 

Original author: Kelly Laffey

In the 1980s and 1990s, Steve Jobs made predictions about how technology and the internet would impact daily life that turned out to be surprisingly accurate.He predicted virtual assistants like Siri and e-commerce giants like Amazon long before these services existed. Among his biggest predictions of all was that the web would be everywhere.

Today, you wouldn’t leave the house without your smartphone. But back in the mid-1980s and 1990s, a device like the iPhone was still far out of the purview of most tech companies and the average consumer. Modern online media giants like Facebook and YouTube were still at least 20 years away, and Google first became a company in 1998.

To say the tech landscape was a much different place would be an understatement.

Yet Steve Jobs made several assessments about the impact that computers and the internet would have on our lives in speeches and interviews from the 1980s and 1990s. His remarks, particularly the ones he made in this Wired interview from 1996, were remarkably on-point.

Here’s what Jobs got right:

Original author: Lisa Eadicicco and Kif Leswing