Nov
17

Uber's co-founders are starting to cash out of the ride-hailing giant. Here's the pitch deck they created back in 2008, way before it was a $45 billion ride-hailing giant. (UBER)

Uber, now a decade old, went public back in May on the New York Stock exchange, but has disappointed investors in the five months since. Co-founders Travis Kalanick and Garrett Camp began cashing out hundreds of millions of dollars worth of stock this month as the company's lockup period expired. The cash outs provide a perfect opportunity to revisit "UberCab"'s original pitch to investors more than 10 years ago. Visit Business Insider's homepage for more stories.

Uber founder Garrett Camp cashed out roughly $13 million of his massive stake in the company this week, according to regulatory filings with the Securities and Exchange Commission.

The sale of 8,462,352 shares was worth $13,538,023, the filing shows, and will still leave the entrepreneur with a roughly 4.75% stake in the company. Camp also sits on the board, and remains the largest individual shareholder after Japan's SoftBank and the venture capital firm Benchmark, according to Bloomberg data. 

Last week, Camp's co-founder and Ubers famously ousted former chief executive Travis Kalanick began selling some of his stake as well, on a much grander scale. Kalanick, who's working to build a "virtual restaurant," or delivery-only kitchen business, sold $711 million worth of shares. 

The sales by both Camp and Kalanick came after the expiration of Uber's "lockup period," a set amount of time that's common in initial public offerings in which insiders are not allowed to sell their existing shares in the company. When Uber's period expired last week, heavy selling sent the stock down some 9% to record lows.

And as Uber fights to turn its first profit in the face of that falling stock price, the company looks very little like it did ten years ago when Camp self-financed some of the company's first rounds. "UberCab" wasn't always a network of more than 2 million drivers providing rides at the tap of a button in 165 countries around the world.

Instead, in those days of August 2008, the dream of a "next generation car service" was merely a slideshow presentation on founder Garrett Camp's computer.

Business Insider has covered the original pitch deck before, when Camp first published it on Medium in 2017, but we felt it deserved a fresh look in light of a the company's underwhelming May IPO, the launch of its freight business, an aggressive push into food delivery, flying cars, autonomous vehicles, and more. 

Here's how the founders envisioned Uber 10 years ago:

Original author: Graham Rapier

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Nov
17

The top 9 shows on Netflix and other streaming services this week

Every week, Parrot Analytics provides Business Insider with a list of the nine most in-demand original TV shows on streaming services.This week includes Netflix's "Atypical" and Apple TV Plus' "Dickinson."Visit Business Insider's homepage for more stories.

Apple TV Plus launched earlier this month and one of its shows has surged past the others in audience demand. "Dickinson" broke through this week's list, as did Netflix's "Atypical," which recently debuted its third season.

Every week, Parrot Analytics provides Business Insider with a list of the nine most in-demand TV shows on streaming services. The data is based on "demand expressions," Parrot Analytics' globally standardized TV demand measurement unit. Audience demand reflects the desire, engagement, and viewership weighted by importance, so a stream or download is a higher expression of demand than a "like" or comment on social media, for instance.

Below are this week's nine most popular original shows on Netflix and other streaming services:

Original author: Travis Clark

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Jul
26

Red Hat Outlook Disappoints - Sramana Mitra

Hello!

You might have noticed this week that Instagram is testing a feature that hides "likes" on posts in the US.

As Amanda Perelli reported, some popular influencers and their teams have already begun expressing concern over the change.

"For creators, it's a big change because likes are the number one tool for tracking post engagement," Adam Wescott, a partner at the digital talent-management firm Select Management Group, told Amanda. "They know within minutes how their content will do based on number of likes."

And, given how easy it is to buy followers, some are worried the change could lead to more fake influencers.

"Now that people don't have to make sure their likes correlate to their following, one of the easiest ways to spot fraud, this will create more fake influencers in my opinion," Joe Gagliese, the CEO of the influencer-marketing company Viral Nation, told Amanda. 

The shift is yet another milestone in the evolution of Instagram, and its relationship with a giant community of influencers who make a part- or full-time living from creating on the platform. 

Brands are set to spend up to $15 billion on influencer marketing by 2022, according to Business Insider Intelligence research. On Instagram in particular, the average price of a sponsored photo has soared from $134.04 in 2014 to $1,642.77 in 2019, according to IZEA. Of course, it's possible to earn a lot more. 

For example, Caitlin Patton, who has 24,900 followers on Instagram, told Amanda she typically earns about $2000 for a campaign on the platform. And Katy Bellotte, a YouTube creator and Instagram influencer, told Amanda that on average she earns between $2,400 and $5,000 for a sponsored Instagram post. 

Others have used Instagram to launch their own business. Julia Engel, who goes by Gal Meets Glam online and now has 1.1 million Instragram followers, in 2018 launched a dress collection that releases limited products every few months. Since launching, Engel's collection has earned $35 million in revenue, she told Amanda.

The rise of the influencer economy is nothing new, of course. But this week's debate over hiding "likes" is another reminder that for platforms like Instagram and YouTube, it's not just those scrolling through their feed when they have a spare moment who notice a design change.

There's a whole economy of folks who rely on the platforms for income who are also impacted. 

Betting boom

Gaming, media, and tech companies are clamoring to corner pieces of the US sports-betting market, which Morgan Stanley estimates could generate $7 billion in revenue by 2025.

Even Wall Street's looking for ways to get in on the action. As Rebecca Ungarino and Dan DeFrancesco reported this week, TD Ameritrade is considering business opportunities it could pursue within the world of sports gambling as it looks to make up lost revenue from moving to zero commissions.

Here's your 101 on the booming sports-betting market, courtesy of Ashley Rodriguez:

SoftBank Group Chairman Masayoshi Son speaks during a press conference on November 6, 2019 in Tokyo, Japan The Asahi Shimbun via Getty Images

SoftBank's struggles

It's not just WeWork. As we reported this week, several other SoftBank-backed startups are also in the news for the wrong reasons:

-- Matt

Finance and Investing

A new Goldman Sachs tech exec hired from Amazon is taking a page from the Jeff Bezos playbook by urging engineers to ditch PowerPoint and write memos

Goldman Sachs made a splash earlier this year when it announced the hiring of a top executive from Amazon Web Services, the online retailers' cloud service.

Prosper, a pioneer in consumer lending, has held talks to sound out potential buyers

Prosper Marketplace, a pioneer of the peer-to-peer lending industry, has been exploring a sale, according to people familiar with the process.

Viking's former investment chief is gearing up to launch his own fund in mid-2020 and join the long list of Tiger Management grandcubs

The Tiger family tree continues to grow.

Tech, Media, Telecoms

Magic Leap's CFO is stepping down after it was 'mutually decided' it was time for someone new. Read the email Magic Leap's CEO just sent to employees.

Magic Leap Chief Financial Officer Scott Henry is stepping down and will help train a successor before transitioning into an advisory role, Business Insider has learned.

Dell-owned Pivotal is preparing for as many as 150 layoffs ahead of its $2.7 billion acquisition by VMware, and employees are openly protesting management over it

The Dell-owned developer software company Pivotal is facing significant job cuts as it prepares for the closing of its $2.7 billion acquisition by VMware, Business Insider has learned.

Here are the power players at Amazon and Microsoft who will play a key role in their battles over the government cloud market, which could be worth $100 billion

Microsoft may have defeated Amazon in the battle for the Pentagon's $10 billion cloud computing contract, but there's still billions of dollars worth of government cloud contracts on the table — and both companies have assembled influential teams to fight for their share. 

Healthcare, Retail, Transportation

Inside a restructuring of Walmart's legal department that's dragging on longer than execs promised. Some employees are exiting, and one used a meme of Al Pacino to say goodbye.

Walmart is restructuring its law department, and a raft of changes have unsettled insiders responsible for handling its massive caseload.

The head of 'Uber for Business' explains how it's helping the ride-hailing giant finally turn a profit — and reveals the new areas it's targeting

Uber is under massive pressure to turn a profit after an underwhelming initial public offering earlier this year and a $1.1 billion loss last quarter, and the path to getting there remains unclear. 

The self-driving car startup Zoox has less money and experience than Waymo. Here's why its CTO thinks it has an edge over the Google spinoff.

Waymo may have more experience and access to more money than any of its rivals who are working on self-driving cars.

Original author: Matt Turner

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Jan
10

Rappi and Oyo pare staff as Vision Fund companies trim costs, target profits

Salesforce CEO Marc Benioff is well known for his activism, taking a stand on everything from LGBTQ right to homelessness to climate change, and its apparent in every part of his company. Salesforce CMO Stephanie Buscemi says that the rest of the company needs to take a stand: everything from marketing to billing to customer support has to reflect the company's values in the "good times and the bad times.""For a long time it was do you have the best product or service? And the reality is...people are saying, look at, we will switch brands if we don't believe in the core values of the company," Buscemi said.She says that's the approach Salesforce takes with Dreamforce. It is meant to exemplify the company's culture and values. "We want, and we have diversity in our customer base and we want that reflected." she said. Click here for more BI Prime stories.

Salesforce CEO Marc Benioff has never been shy about his beliefs. He speaks often about business being the biggest platform for change, and the responsibility businesses have in tackling social issues. As one of a new breed of activist CEO, he's taken a stand on issues from LGBTQ rights, to homelessness, to climate change.

That outspokenness has translated into a business strategy for Salesforce, which has grown into a $143 billion cloud software company. 

Stephanie Buscemi, chief marketing officer of Salesforce told Business Insider that now more than ever, a company's brand is more than just its products and services — it's the values that it upholds. 

Buscemi said it's the view of Salesforce that companies now can't just be about capitalism: They have to be "values-driven" in their approach to everything from marketing to billing to customer support, and making sure those values remain apparent in the "good times and the bad times."

"For a long time, it was 'do you have the best product or service?' And the reality is...people are saying, we will switch brands if we don't believe in the core values of the company," Buscemi said. 

She said that those values are the focus of Salesforce's annual Dreamforce mega-conference, which will take over downtown San Francisco this week. At the event, Benioff, co-CEO Keith Block, and other top Salesforce execs will share updates on the company and its strategy. Salesforce is expecting 170,000 people to attend Dreamforce in person, with more tuning in to the event livestream, Buscemi said.

Buscemi said that the splashy event — which will feature guest appearances from speakers like President Barack Obama and "Game of Thrones" actor Emilia Clarke, as well as a Fleetwood Mac performance at the official after-party — doubles as a showcase of the company's culture and values.

She thinks of the event as less of a traditional tech conference and more like an event that focuses on how businesses can have a positive impact, and how technology can help it happen. Prominent figures like Apple CEO Tim Cook, Gucci CEO Marco Bizzarri, soccer superstar Megan Rapinoe will be on hand to talk about the intersection of social good and business. Representatives from the United Nations will also be on hand to offer an international perspective.

"We said, wait a minute, what are the top world issues and how can we inspire people to make change and contribute? We immediately went to our relationship with United Nations," Buscemi said. "We said we could try to create these conversations. But they're having these conversations; bring them here and inspire business leaders to take action and get individuals to take more action." 

She said what helps Salesforce do this is its community of so-called "trailblazers," its term for those who are innovating and leading in their respective fields. Those trailblazers will be in attendance at Dreamforce, she said, as invited guests of the company — coming from all walks of life, from different areas around the world.

"We want, and we have, diversity in our customer base, and we want that reflected," she said. 

There's still a lot to talk about in terms of the Salesforce platform itself, Buscemi says. The conference will highlight how Salesforce is building cutting-edge new technologies such as artificial intelligence into its products, she said, which will only underscore how far the company has come in terms of building out its products.

"So everything about Salesforce from when we started 20 years ago, it was CRM, customer relationship management...flash forward 20 years, it's about being number one in customer relationship management and leveraging the power of the latest innovative technologies to drive better customer relationships," Buscemi said.

Still, it appears that not everybody is convinced that Salesforce is living up to its values: Activists are planning to demonstrate at Dreamforce in protest of Salesforce's contract with US Customs and Border patrol — an issue that also sparked a backlash from some Salesforce employees.

Got a tip? Contact this reporter via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or Signal at 925-364-4258. You can also contact Business Insider securely via SecureDrop.

Original author: Paayal Zaveri

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Nov
17

An abandoned 19th-century Napa Valley resort on 857 acres is now on sale for $50 million

A Bay Area tech billionaire looking for a project with some history would be smart to look at the Napa Soda Springs Resort, which just went on the market for the first time in 40 years. 

Home to 27 mineral water springs, the property was once the site of a legendary resort. Historically, natural springs were seen as potential cure-alls, and resort towns popped up on spring sites around the country. By the 1930s, there were over 2,000 spring resorts in the US.  

At the same time, the owners of the resort also had a factory where they bottled and sold Napa Soda, and they won the exclusive rights to use the Napa name in court. In 1897, San Francisco saloons reportedly ran out of Napa Soda, necessitating overnight shifts at the factory to restock. The drink was a 19th century Bay Area food trend, an early precursor to kombucha and Soylent trends of today.

Here's some history about the resort, and photos of what remains on the site after over a century.

Original author: Mary Meisenzahl

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May
04

Colors: Las Casas de Guanajuato, Mexico - Sramana Mitra

Motorola is reviving its popular Razr flip phone from the early 2000s as a new foldable smartphone. Preorders start on December 26 and it will cost $1,500.Although I loved my original Razr back in 2005, I'm hesitant to buy the new one. While the Razr's vintage-inspired design, compact build, and foldable screen are impressive, the phone seems like it falls short in other areas compared to modern smartphones — particularly when it comes to the camera.That wouldn't matter as much if the Razr wasn't so expensive. But at $1,500, it's pricier than Apple's iPhone 11 Pro or Samsung's Galaxy S10.Visit Business Insider's homepage for more stories. 

Motorola is bringing back its iconic Razr flip phone from the early 2000s, a phone that probably invokes just as much nostalgia for millennial-aged smartphone users as their first iPhone or Blackberry handset. 

I had a Razr when I was a teenager sometime around the year 2005, and it was the first cellphone I was ever actually excited to use. Like most people my age at the time, I really just wanted a cellphone so that I could feel more independent and contact my friends whenever I wanted.

But until the Razr, I didn't really care what type of phone I was using, so long as it could text and make phone calls. The Razr, however, felt like the first phone that was a status symbol. With its angular edges, flat shape, and shiny, sleek keypad, the Razr looked unlike anything else at the time. 

The 2019 version, thankfully, maintains this general aesthetic, but with modern functionality. It has an expansive, crisp touchscreen that impressively folds in half, a camera with a high-resolution sensor, and a fingerprint scanner for unlocking the phone, among other familiar features. And compared to other foldable phones that have debuted this year, the Motorola Razr seems well-positioned to succeed.

For starters, it's less expensive than rivals like the Samsung Galaxy Fold. But it also revives a form factor that's proven to have resonated with cellphone users in the past — the flip phone — rather than asking consumers to get used to something entirely new. And most importantly, since it folds in half, it's more convenient to store in a pocket or purse. 

But those benefits alone may not be enough to make the Razr a hit. While its foldable and nostalgic design certainly makes the Razr stand out, it's unclear how well-spent that $1,500 will feel once the novelty of snapping your phone shut to end a call wears off.

That's because although the Razr is made to look and feel like a 2019-era smartphone, it's lacking in certain areas compared to rival devices from Apple, Samsung, and others.  

Here's why I wouldn't buy one. 

Original author: Lisa Eadicicco

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Jun
03

XCOM-style Avengers game from 2K is real (so is the rest of the leak)

Earlier this month, the error monitoring software startup Sentry changed its software license to the Business Source License (BSL), which was created by the database startup Cockroach Labs.Before, Sentry gave away its software for free as open source, but now, users can do whatever they want with the code for free except sell it.Sentry CEO and co-founder David Cramer says today, investors are concerned that Amazon Web Services could be a threat to open source software companies, and he decided to make this change because AWS is a "huge business liability," but also because other startups have been selling Sentry's software.Click here for more BI Prime stories.

When Sentry CEO and co-founder David Cramer first told investors that he gave away the software he built for free, he faced lots of skepticism. 

Cramer originally created the error monitoring software as an open source product, meaning anyone could use, download, or modify it for free. In 2015, he decided to leave his job at Dropbox to focus full-time on turning the free software into a business.

"That was a very confusing idea four years ago," Cramer told Business Insider.

But now, he says, the concern isn't whether or not Sentry can make money: The company is one of a new class of startups, including GitLab, Neo4j, and DataStax, proving that it's possible to build a sustainable business on open source — something proven out further by IBM's $34 billion acquisition of open source giant Red Hat.

"People don't fear [the business model] nearly as much just because there's been a lot more innovation in open source," Cramer said.

Now, Cramer says that Sentry faces a different challenge as an open source company: The fear that other companies are unfairly ripping off its code and using it to make money.

Part of that fear stems from the continued rise of Amazon Web Services, which has been criticized for taking open source software projects and turning them into commercial, paid services — something that's perfectly legal under the rules of open source software, but that hasn't sit right with an increased number of companies in the space. 

But while Cramer acknowledges that the possibility that Amazon will give Sentry that treatment is a significant concern, that's not what gets under his skin.

"Our biggest issue is we had to file various complaints against startups throughout the years, taking our code and incorrectly licensing it," Cramer said. "It feels like it's a moral thing, almost stealing. They didn't contribute at all to it and think you should be able to commercialize it. It didn't sit well with us."

In a recent blog post, Cramer went further, saying that competitors have taken photos and even promotional copy from its website, using the fact that Sentry is available as open source as an excuse.

That's all why, earlier this month, Sentry announced that it was changing its model over to the Business Source License (BSL) — a license created by the database startup Cockroach Labs that has what's been called a "no-Amazon clause." It stems off the threat of AWS poaching its business, while also closing the door on bad actors.

"We made this change because of Amazon...it's a huge business liability," Cramer says.

'I don't know that it's so practical'

Amazon Web Services, the leading cloud computing provider, has a certain reputation: It's happy to use other people's open source code, the thinking goes, without giving enough in return. 

Companies like Elastic, MongoDB, Redis Labs, and Confluent have taken defensive steps after Amazon (and other clouds) started selling their code. The most dramatic weapons have come in the form of new software licenses, which place restrictions and limits on how others, especially cloud providers, can use their software. 

Sentry opted for that BSL, which essentially says that anybody can use and modify Sentry, as they have been — but that they can't sell Sentry for profit. Notably, the BSL does have provisions that over time, older code will become available as traditional open source, minus even that restriction.

After meeting with the Cockroach Labs team, Sentry decided on BSL because it was the "best compromise we found." In addition, the vast majority of contributions to Sentry's code are from its own employees, Cramer says, meaning that there was limited risk from alienating its community.

BSL and licenses like it have proven controversial in some corners of the developer community, where the dominant belief is that the idea of placing restrictions on code is inherently contradictory to the concept of open source. Cramer says that this is a nice idea, but it doesn't always hold up in the real world.

"Open source means wildly different things to different people," Cramer said. "Open source could mean this was built by the community. Open source to a lot of people means free. The hardcore definition is you can do whatever you want with that code, which is very idealistic. I don't know that it's so practical."

A 'huge business liability'

The reaction to the change has been mixed, Cramer says, with many concerns coming from open source advocates.

"Some people are very rigorous about what open source means, but for the most part, anyone who used Sentry was very supportive," Cramer said. "It's kind of a gray zone...A lot of people brought up if it's open source or not, but it's the spirit of open source. We have to reframe what open source is, in a way." 

Still, so far, Cramer says he feels good about Sentry's position, but he's open to making changes down the line if the license isn't working out.

Ultimately, he says, Sentry is in a good position: Just in September, Sentry closed a $40 million round of funding, underscoring what Cramer says is its success in having its "peer companies" in Silicon Valley use and love its product. 

"We're really big in the sense that we always joke internally that if you have a map of Silicon Valley and throw a dart, that company uses Sentry," Cramer said. "If you ask developers, hopefully they know what it is."

Original author: Rosalie Chan

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Nov
17

I tried the $3,000 digital weights machine that's like a Peloton for strength training and found how at-home fitness systems are the future — at least for those that can afford it

Tonal is an at-home workout machine that's like a Peloton for strength training that mounts to your wall and offers on-demand coaching and digitally-connected personalized exercises.It costs $3,000 and is one of the first products in the at-home fitness workout market that focuses on resistance training instead of cardio, like Peloton does.I recently gave Tonal a try to see how it compares to traditional weight lifting.Take a look at how my workout went.Visit Business Insider's homepage for more stories.

Tonal is an at-home strength training machine that uses electromagnetism to create resistance and mounts to your wall for a personalized workout with over 200 exercises, like deadlifts, bicep curls, and overhead presses, and on-demand coaching.

With Tonal, performance anxiety at the gym could be a thing of the past — no more feeling self-conscious in front of your seemingly more experienced gym-goers, no more 30-plus minute round trips to the gym, and no more gym memberships.

That is, if you can afford the $3,000 price tag.

Tonal was invented by Aly Orady, a Hewlett-Packard veteran who wanted an easier way to stay in shape at home that didn't involve sweaty, used equipment and tedious trips to the gym.

It operates similarly to its cardio cousin Peloton, whose stationary bikes retail for $2,000. Both are a part of a growing trend that is seeing digital, at-home fitness systems on the rise and gym attendance and boutique fitness studios declining in popularity.

Tonal is one of the first products in the market with a focus on strength training. Fitness experts have increasingly stressed the importance of resistance training in addition to cardio to maintain good health. And in an interview with TechCrunch, Orady said that a significant amount of Tonal users also own a Peloton bike (amounting to a collective $5,000 investment, if you were wondering.)

I recently tried a Tonal workout for myself at the company's San Francisco showroom. It was a bit hard to get used to at first, but I knew that if I were to own one, I'd adjust and would eventually have a convenient way of staying fit in the privacy of my home.

Too bad it's way out of my budget and that even if it wasn't, mounting such a piece of equipment onto a wall in my rental apartment would likely make my landlord less than pleased.

Here's how my workout went.

Original author: Katie Canales and Megan Hernbroth

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May
04

442nd Roundtable Recording on May 2, 2019: With Vikas Choudhury, Pivot Ventures - Sramana Mitra

October is usually one of the biggest months of the year for new video game releases, and this year a new release from a beloved studio took the spotlight.A newly launched game, Obsidian Entertainment's "The Outer Worlds" was the second best-selling game of the month."The Outer Worlds" is Obsidian's first game since being acquired by Microsoft in November 2018. As an independent studio, Obsidian was beloved for games like "Fallout: New Vegas" and "Star Wars Knights of the Old Republic II: The Sith Lords."The Nintendo Switch continues to dominate the hardware market as consumers wait for the next PlayStation and Xbox consoles.Visit Business Insider's homepage for more stories.

October is usually one of the biggest months of the year for new video game releases as eager publishers look to get their best games out on the shelves for the holiday season. But with multiple studios prepping for the launch of the Sony PlayStation 5 and Microsoft's Project Scarlett next year, a bunch of blockbuster titles are waiting until 2020 to launch.

That's left room for some lesser known games to take the spotlight, like Obsidian Entertainment's "The Outer Worlds." "The Outer Worlds" was the second-best selling game of October, according to data from the NPD Group. It was surpassed only by "Call of Duty: Modern Warfare," the latest entry into the perennial best-selling franchise.

"The Outer Worlds" is Obsidian's first game since being acquired by Microsoft in November 2018. As an independent studio, Obsidian was beloved for games like "Fallout: New Vegas" and "Star Wars Knights of the Old Republic II: The Sith Lords." "The Outer Worlds" is a single-player shooting game with role playing mechanics that let players alter the story.

"The Outer Worlds" was included in Microsoft's Xbox Game Pass when it was released on October 25th, but that didn't stop people from buying the game outright. Despite being made by a Microsoft subsidiary, "The Outer Worlds" is also available on PlayStation 4, and is coming to Nintendo Switch next year.

In comparison to last year, video game sales in October were down 34 percent, according to the NPD Group. However, October 2018 featured some of the biggest hits of the decade, including"Red Dead Redemption 2,
"Marvel's Spider-Man," and yet another "Call of Duty."

Nintendo's big exclusive release of October, "Luigi's Mansion 3," earned the third spot on the sales chart with a solid debut, while the company's new exercise game "Ring Fit Adventure" was the 10th best-selling game of the month.

"Madden 20," "NBA 2K20," and "FIFA 20" all made it onto the charts as the fall sports season hits a stride.

Though it's made it into the top 10 in two consecutive months, Ubisoft's "Tom Clancy's Ghost Recon Breakpoint" appears to be a bit of a sale disappointment. The military survival game has been criticized for being too similar to "Tom Clancy's The Division 2," another Ubisoft game released earlier this year.

The Nintendo Switch continues to dominate the hardware market as consumers wait for the next PlayStation and Xbox consoles. The new Nintendo Switch Lite helped push the console over the 40 million mark in lifetime sales in October.

These were the top 10 best-selling games of October: 

Original author: Kevin Webb

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Nov
17

Check out the pitch deck Freetrade used to get a $15 million Series A to take on Robinhood and Revolut

The battle for Europe's stock traders has stepped up a notch after Robinhood's UK challenger, Freetrade, secured $15 million in a fundraise.

The firm's total stands at $26.2 million to date.

The Series A round sees investors Draper Esprit topping up the £3.8 million ($4.9 million) Freetrade raised through crowdfunding earlier this year with an additional $7.5 million.

Draper's investment comes at the same terms, namely a £52 million valuation, as other crowdfund investors, per Altfi. 

The company confirmed to Business Insider that it would use the new funds to extend its engineering talent pool and also open a new office in Amsterdam, at an undetermined future date. 

"We took the view that this isn't a 'winner takes all' market, the opportunity to get millennials to save and invest more is huge," a Draper Esprit spokesperson told Business Insider. "Most importantly, we felt their mission was totally aligned with our own—as a listed VC we are also on a mission to open up investment into tech to the general public."

Fee-free stockbroking has exploded in the US, with Robinhood gaining support among US millennials. Freetrade is looking to do the same in Europe despite the imminent arrival of its colossal American competitor which is valued at $7.6 billion, according to Crunchbase. 

The company's latest innovation is to offer UK users access to "fractional" or parts of individual shares in European companies, something which is available for US companies, which Freetrade claims is a first.

Other competitors are lurking, however, with challenger bank Revolut also offering a stock-trading feature. The relationship between the two companies is already heated after Freetrade's cofounder and former CTO, André Mohamed, left the firm to become head of wealth and trading products at Revolut at the start of 2019 in murky circumstances. 

Freetrade operates on a "freemium" model. Customers are able to open an account free of charge and make trades but can pay more for quicker transaction speeds.

The startup's core demographic is between ages 25 and 35. The next stage in the company's evolution is to bring in older investors who have their main savings with UK incumbents such as Hargreaves Lansdown and AJ Bell. 

Check out Freetrade's redacted pitch deck below:

Original author: Callum Burroughs

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Nov
17

One chart shows just how dire WeWork's revenue situation is

A simple chart showing WeWork's revenues plotted against its losses over time raises an existential question...Can this company survive?

When The We Company pulled its IPO for WeWork in September it stopped disclosing its financial statements in the full, formal way required by SEC rules.

Instead, as the crisis at the company rumbles on, it published a less formal Q3 2019 presentation to investors, obtained by Business Insider a few days ago. That deck shows WeWork suffered a net loss of $1.3 billion on revenues of $934 million in Q3.

When you plot the company's revenue growth against its growing losses you get a dramatic snapshot of just how ugly WeWork's business is right now:

These numbers combine WeWork's regular revenue plus its "other" revenue. WeWork did not disclose net loss after non-cash costs in Q3. Business Insider / The We Co

It is normal for a new company to make losses in its early years. Companies going public often carry losses on their books. It is normal to burn investment money in order to grow and scale a business. As long as the underlying business is solid, temporary losses aren't really a problem.

Previously, WeWork's losses were lower than its revenues. In some quarters, losses even declined. That suggested these losses could be pared or reversed completely at some point in the future. Indeed, WeWork's revenues are growing nicely.

What the above chart shows, however, is a company whose losses are increasing as time goes by. The more WeWork grows, the worse it gets. WeWork now spends about $2.25 in order to generate every $1 in revenue.

Obviously, this company is in no condition to do an IPO.

In Q3, the losses vastly eclipsed revenues. That underscores an existential question around WeWork: Is this company a "going concern"? The term "going concern" is the official jargon accountants use when they believe there is a realistic prospect that the company might go bankrupt.

On the numbers above, from WeWork's own investor deck, it is difficult to imagine that this company can survive.

There are some things we don't know. WeWork's latest presentation doesn't give a full set of official financial statements, and they may include cashflow information that would make the picture rosier. WeWork does have the ability to generate positive cashflow and it can make some buildings profitable.

But, on WeWork's own numbers, there is no sign of that helping the company's income statement.

Original author: Jim Edwards

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Jul
26

Thought Leaders in Cybersecurity: BitSight CEO Tom Turner (Part 4) - Sramana Mitra

As a money coach, one of the top five things I tell my clients to do is create visual goals for their finances. 

People who write down their financial goals are 33% more likely to achieve them, according to research. Some people like making games out of their financial goals, while some like keeping a coloring sheet on the wall that tracks their progress. 

Others don't need a gold star each time they put money into their savings, but it's still helpful to see a complete picture of your overall wealth and financial situation. Personal Capital is the free tool I check daily to keep a close eye on my financial picture.

I used Personal Capital daily to track my savings and investments to reach $100,000, a goal I achieved earlier this year. It kept me on track and motivated to make my goal a reality.

The Personal Capital dashboard makes looking at spending habits easy and intuitive. First, you link all your accounts to the tool (including any investment or retirement accounts). Then, Personal Capital scans that data and looks for patterns in your monthly cash flow.

Now you have the knowledge of how much money you're bringing in and how much is going out right at your fingertips. After all, you can't start making financial decisions until you understand your cash flow.

Personal Capital also has financial advisers on call if you need any extra help deciphering what your dashboard means, or if you want some extra help making plans for your future. 

The best part is the free initial consult, which lets you decide if going with their professionals is right for you. 

Want to use Personal Capital to track your wealth and grow your savings? Open an account today »

A few notable features about Personal Capital that I love and relied on as I saved towards my goal: 

Retirement education 

Investing for retirement is confusing, complicated, and sometimes so far in the distant future that it's hard to comprehend. If you're lucky, your employer offers financial consultations. But for most people, you're on your own making those decisions. 

The retirement planner helps you adjust your goals by offering tools that can help forecast how much money you'll need to retire and the amount of money you'll need to save to get there. 

Plus, Personal Capital estimates how much you'll pay in fees over a lifetime so you can be prepared.

Real-time investment updates

Oftentimes, when you login to a retirement/investment account, it will give you delayed value information by a business day or so. You're in the dark about how your investments are really doing.

Personal Capital gives you real-time updates based upon how the market is performing. So when you see a dip or surge, you get a clear picture of your overall wealth in the moment. 

The savings planner

In order to reach financial freedom, you need to have a few different types of savings: retirement, emergency funds, and lowering your overall debt. The Savings Planner tool shows you what you can afford to save, or what you should be saving based upon your goals.

My rule of thumb: work towards building an emergency fund of at least three months of expenses, pay down your high-interest debt, like credit cards, and then add to retirement. 

As always, there are a few downsides to every tool that you use: 

At its core, Personal Capital is a net-worth tracker. If you're someone who isn't interested in tracking that (you should be!), there are other tools out there.If you want day-to-day tracking of your personal expenses, it doesn't give you that type of breakdown. There are other applications that categorize your spending to help summarize where you could be cutting costs. I recommend Charlie, which gives me alerts if I'm starting to near my monthly budget spending. 

Those factors aside, this tool was there for me as I worked towards my savings goal, and I recommend it highly.

Personal Capital makes tracking your wealth easy. Open an account today and take charge of your savings and investments »

Original author: Tori Dunlap

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Jul
26

A Venture Capital Career Is Like Walking from Boston to San Francisco

Researchers at Rice University in Houston have used 3D printing methods to create polymer cubes that can withstand bullets.The cubes' have elaborate structures and are made up of numerous layered lattices that make them ultra-durable.The researchers found that the cubes with these particular structures were significantly better at withstanding the impact of a 5.8 kilometre-per-second bullet and other "crushing forces" than a solid cube made of the same polymer.Visit Business Insider's homepage for more stories.

There have been several alarming stories about 3D-printing enthusiasts potentially manufacturing their own guns at home.

But a group of 12 researchers at Rice University in Houston have done the opposite — used the technique to create near-bulletproof material. We first saw the news via Gizmodo.

The Rice University group used 3D printing to create plastic cubes that can remain almost wholly intact when shot at by 5.8 kilometre-per-second bullets or subjected to "crushing forces."

The idea was to test a theoretical structure called "tubulanes", described as theoretical microscopic structures comprised of crosslinked carbon nanotubes. Two researchers within the group, chemist Ray Baughman and physicist Douglas Galvão, predicted back in 1993 that tubulanes could have exceptional loadbearing and impact-resistance properties.

The latticed polymer block, which could withstand crushing forces and speeding bullets. Rice University

The main aim of Rice University's study, first published in nanotech-focused scientific journal "Small" and republished in Wiley, was to see if tubulanes' predicted exceptional properties exist even when they're scaled up to 3D-printable size.

The researchers created various intricate, layered polymer cubes based on tubulanes, and tested to see if they were any better than simple, solid polymer cubes at withstanding speeding bullets.

They built computer simulations of various tubulane blocks, printed the designs as macroscale polymers, and then subjected them to the speeding bullets.

They found the cube with structures based on tubulanes were significantly better at withstanding the impact of a 5.8 kilometre-per-second bullet than the simple, solid cube made of the same plastic. It was ten times better, in fact.

While the solid polymer cube was left with a huge dent and numerous cracks in and around it, the cube based on tubulanes stopped the bullet by its second layer, leaving the rest wholly intact and undamaged. 

The study's lead author Seyed Mohammad Sajadi – a graduate student at Rice – also said that optimizing the lattice design could lead to better materials for civil, aerospace, automotive, sports, packaging and biomedical applications. 

Original author: Charlie Wood

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Jul
26

408th Roundtable For Entrepreneurs Starting NOW: Live Tweeting By @1Mby1M - Sramana Mitra

Instagram is experimenting with dropping 'likes' worldwide. Jeff Kravitz/BMA2015/FilmMagic/Getty Images

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

Amazon made its first official challenge to Microsoft's $10 billion JEDI cloud-contract win over claims of 'unmistakable bias.' Amazon has filed a protest in the US Court of Federal Claims, arguing that there were errors in the procurement process.WeWork has sent combative legal letters to people it laid off in a round of job cuts earlier in 2019, warning them not to compete with its business. The letters warn the former employees to stick to the terms of their contracts, or the company will pursue legal action. 
Insiders have raised questions about Plenty, the buzzy farming startup backed by SoftBank and Jeff Bezos. The sources told Business Insider that Plenty's leadership repeatedly touted expectations for the company that did not materialize during their time at Plenty, and even that they felt unsafe at work on more than one occasion.A multistate investigation into potential anticompetitive behavior by Google has expanded to its search and Android businesses. Previously, attorneys general from 48 states, Washington, D.C., and Puerto Rico were only looking into Google's digital ads business, but the broadened investigation adds to Google's regulatory headaches.Instagram is now experimenting with removing 'likes' worldwide. Last week, Instagram chief Adam Mosseri announced that the company would start removing likes on posts in the US, an experiment which it has already been testing in seven other countries.Tesla and SpaceX CEO Elon Musk described how his brain-chips company Neuralink Musk could "solve a lot of brain-related diseases," naming autism and schizophrenia as examples — but autism is not a disease. Musk has talked before about Neuralink's potential to treat neurological conditions such as Parkinson's and Alzheimer's.Lawmakers have turned their fire on Goldman Sachs over the Apple Card and say the bank needs to explain its algorithm. Democratic Sens. Elizabeth Warren and Ron Wyden separately called out Goldman Sachs for its handling of recent allegations that its credit decisions for the Apple Card were biased.Netflix Chief Content Officer Ted Sarandos said Disney Plus' reliance on universes like Marvel and "Star Wars" comes with a big risk at a Paley International Council Summit event in New York on Thursday. "I don't know if it's a luxury or a trap," Sarandos said when asked about the Disney's legacy brands. "The risk of being bound in a few universes [is] that there maybe a melting ice cube of interest over time."2020 presidential candidate Andrew Yang has released his plan to regulate the tech industry, including a policy on giving people a right to own their personal data, enabling them to make money by sharing it with companies. That would be a huge shift from the current status quo where companies fully own users' data, giving them little control over how it's used.A Silicon Valley startup is offering $10,000 to workers who volunteer to leave the Bay Area. Tech firms can hire MainStreet to recruit and hire workers in Silicon Valley, and MainStreet will give those employees a stipend to work remotely in one of the startup's own brick-and-mortar offices outside the Bay Area. 

Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

You can also subscribe to this newsletter here — just tick "10 Things in Tech You Need to Know.

Original author: Shona Ghosh

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Jun
05

Streamlytics aims to reduce AI bias by helping users sell their data

Investigators probing the downing of Malaysia Airlines flight MH17 in 2014 have recorded phone calls that draw a connection between pro-Russian rebels implicated in the missile strike and a senior aide for Russian President Vladimir Putin.The international Joint Investigation Team (JIT), based from the Netherlands, publicly released the calls between the members of the armed Russian separatist group Donetsk People's Republic (DPR), which has fought against the Ukrainian government for independence in eastern Ukraine.According to the phone calls, senior members of the DPR "maintained contact with Russian government officials about Russian military support," including Vladislav Surkov, a senior aide to President Putin."Well, your plans are far-reaching. Mine are not," Alexander Borodai, the former self-proclaimed prime minister of the DPR, said in one call. "I'm carrying out orders and protecting the interests of one and only state, the Russian Federation. That's the bottom line."Visit Business Insider's homepage for more stories.

Investigators probing the downing of Flight MH17 in 2014 are in po session of recorded phone calls that draw a connection between pro-Russian rebels implicated in the missile strike and a senior aide for Russian President Vladimir Putin.

The international Joint Investigation Team (JIT), based from the Netherlands, publicly released the calls between the members of the armed Russian separatist group Donetsk People's Republic (DPR), which has fought against the Ukrainian government for independence in eastern Ukraine.

"Well, your plans are far-reaching. Mine are not," Alexander Borodai, the former self-proclaimed prime minister of the DPR, said in one call. "I'm carrying out orders and protecting the interests of one and only state, the Russian Federation. That's the bottom line."

Members of the DPR were found to have been responsible for the downing of MH17 flying from Amsterdam to Kuala Lumpur on July 17, 2014, killing all 298 people on board. Four suspects have since been charged with murder in June.

"The indications for close ties between leaders of the DPR and Russian government officials raise questions about their possible involvement in the deployment of the [missile system], which brought down flight MH17," the JIT said in its findings, adding that the missile system that downed the aircraft originated from "a unit of the Russian armed forces from Kursk in the Russian Federation."

According to the phone calls, senior members of the DPR "maintained contact with Russian government officials about Russian military support," including Vladislav Surkov, a senior aide to President Putin.

In a conversation six days before the missile strike, Borodai pleads to Surkov that he urgently needs military support from Russia. Surkov replied that Russian "combat-ready" reinforcements will be arriving, according to the call logs.

Other intercepted phone calls also implicate the GRU, Russia's military intelligence agency, and the FSB, Russia's secret intelligence agency.

"It's a week we've directly…. [inaudible] to Moscow and we get the orders," one rebel said during a call in July 2014.

"We get the orders from Moscow as well. It's the same with us," another person replied.

"But it's FSB in your case? Right," the first rebel asked.

"Yes," the second person said.

"And it's GRU in our case. That's the only difference," the first rebel said.

"I know about it perfectly well," the second person replied.

Although former DPR rebels testified in the investigation that they received military help from Russia, both the rebels and Russia have denied they were involved in the missile strike. A spokesman for the Kremlin said that the call logs should be scrutinized, and it comes amid a trove of "fake news" regarding the incident, according to Reuters.

According to the communications, the FSB provided telephones that rebels believed were immune from being wire-tapped.

"How are you about those special communication telephones, you know, that we have? Those that go through the Internet, do you know? Secure," Sergey Dubinskiy, a former GRU officer and a member of the DPR, said to another person on July 3, 2014.

"Those are special phones, you cannot buy them. They are gotten through Moscow. Through FSB," Dubinskiy added.

Original author: David Choi

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Jul
26

1Mby1M Virtual Accelerator Investor Forum: With Greg Borchardt of Caerus Ventures (Part 4) - Sramana Mitra

New York-based adtech firm IgnitionOne laid off staff on Wednesday and faces allegations of unpaid bills.IgnitionOne recently spun off its demand-side platform to martech firm Zeta Global to focus on its data and tech business.Progress Partners, an investment firm IgnitionOne hired to advise it on the deal, alleges that IgnitionOne owes the firm more than $590,000 in damages.Click here for more BI Prime stories.

IgnitionOne, which builds and sells programmatic advertising technology, laid off a handful of employees on Wednesday, sources close to the company said.

The cuts, estimated to number fewer than 10, came two months after martech firm Zeta Global acquired IgnitionOne's demand-side platform that coordinates marketers' programmatic ad buys. Some of IgnitionOne's accounts from small to mid-size brands and fewer than 15 people from IgnitionOne joined Zeta Global as part of the deal, a Zeta Global spokesperson said.

IgnitionOne confirmed that the layoffs affected fewer than 10 employees.

IgnitionOne faces a breach of contract complaint from its former investment firm 

IgnitionOne also faces a civil complaint alleging breach of contract from Progress Partners, an investment firm it hired to advise it on a potential sale. A complaint filed in October in Massachusetts District Court alleges that IgnitionOne owes Progress Partners more than $590,000 in damages plus attorney's fees, interest and other costs, related to its work that led to the deal with Zeta Global in September.

It's unclear if there is a connection between the complaint and the layoffs.

Adtech consolidation continues

Fifteen-year-old IgnitionOne is one of the oldest adtech firms and works with brands like Mazda and Motel 6, according to its website. The company sold marketers the DSP as well as a tech and data service that claims to help companies do things like personalize ads to people based on their search history.

IgnitionOne was acquired by holding company Dentsu Aegis in 2010 and spun out as a standalone company in 2013. The company has raised $85.2 million and has about 250 employees, according to LinkedIn.

Adtech companies struggle to pivot into new businesses, particularly DSP companies that specialize in media buying.

Big firms like The Trade Desk and Google continue to make inroads with large advertisers while holding companies cut back on the number of adtech companies that they work with.

As a result, smaller DSPs like IgnitionOne, OwnerIQ and Dataxu have become acquisition targets. Roku recently acquired Dataxu for $150 million, and OwnerIQ was acquired by tech and data services company Inmar.

Original author: Lauren Johnson

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Nov
14

The CEO of Amazon Web Services told employees its cloud was '24 months ahead of Microsoft in functionality and maturity' (MSFT, AMZN)

Amazon Web Services CEO Andy Jassy reportedly told employees the AWS cloud was 24 months ahead of Microsoft's "in functionality and maturity."Jassy's comments came as he discussed the company's plans to challenge Microsoft's win of the $10 billion JEDI cloud-computing contract with the Pentagon, according to a report from Federal Times.The contentious bidding process included tech titans such as Oracle and even politicians including President Donald Trump, who has publicly ridiculed Amazon CEO Jeff Bezos.Jassy said the political aspect made the process unfair. "When you have a sitting president who's willing to publicly show his disdain for a company and the leader of a company, it's very difficult for government agencies including the DOD to make an objective decision without fear of reprisal," Jassy said.Though difficult, experts say Amazon may have a case if it could prove political interference unfairly affected the outcome of the bidding process — particularly given that a coming book claims Trump ordered then-Defense Secretary James Mattis to "screw Amazon" out of the JEDI contract.Visit Business Insider's homepage for more stories

Amazon Web Services CEO Andy Jassy reportedly told employees at an all-hands meeting on Thursday that the Seattle-based company's cloud business was two years ahead of its competitor Microsoft's.

"If you do any thorough, apples-to-apples, objective comparison of AWS versus Microsoft, you don't come out deciding that they're comparable platforms," he said, according to a report from the Federal Times, which said it obtained a video of the meeting. "Most of our customers will tell us that we're about 24 months ahead of Microsoft in functionality and maturity."

Jassy's comments came as the executive was detailing the company's plans to challenge Microsoft's win of the Joint Enterprise Defense Infrastructure project, a contentious $10 billion cloud-computing contract with the Department of Defense.

AWS has started to protest that decision over the so-called JEDI contract in the US Court of Federal Claims, citing "unmistakable bias."

"AWS is uniquely experienced and qualified to provide the critical technology the US military needs, and remains committed to supporting the DOD's modernization efforts," an AWS representative said in a prepared statement cited by the Federal Times. "We also believe it's critical for our country that the government and its elected leaders administer procurements objectively and in a manner that is free from political influence. Numerous aspects of the JEDI evaluation process contained clear deficiencies, errors, and unmistakable bias- and it's important that these matters be examined and rectified."

Microsoft was selected October 25 for the JEDI deal, which will help move the Department of Defense's sensitive data to the cloud. It's worth as much as $10 billion over 10 years.

The contentious bidding process included involvement from tech titans such as Oracle and politicians up to and including President Donald Trump, who has publicly ridiculed Amazon CEO Jeff Bezos over his ownership of The Washington Post, whose coverage Trump takes issue with.

Jassy told employees the process involved political interference and therefore was unfair.

"When you have a sitting president who's willing to publicly show his disdain for a company and the leader of a company, it's very difficult for government agencies including the DOD to make an objective decision without fear of reprisal," Jassy said, according to the report.

Experts say Amazon may have a case if it could prove political interference unfairly affected the outcome of the bidding process — particularly given that a coming book claims Trump ordered then-Defense Secretary James Mattis to "screw Amazon" out of the JEDI contract.

But it's no sure thing. Amazon would have to prove not only that political pressure was applied to the process but also that the pressure affected the outcome. Experts previously told Business Insider that Microsoft most likely won the JEDI deal on its own merits as a cloud heavyweight.

Original author: Ashley Stewart

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Jan
10

CES takes half-baked stance on cannabis

Hello, and welcome to this week's edition of Trending, the newsletter that highlights the best of BI Prime's tech coverage.

I'm Alexei Oreskovic, Business Insider's West Coast bureau chief and global tech editor. If you like this email, tell your friends and colleagues that they can sign up for the newsletter here.

This week: Andrew Yang and his loyal 'knights' of the valley

While much of the US was tuned in to the public impeachment hearings on Capitol Hill this Wednesday, a few dozen techies in San Francisco convened at the home of the tech entrepreneur Sam Altman to focus on another political story.

Andrew Yang, the Democratic presidential hopeful, was in town for a fundraiser. Business Insider's Melia Russell managed to get into the event so she could see firsthand why so many techies were head over heels for Yang.

Andrew Yang. AP Photo/Nati Harnik

As she reports, Yang is someone who speaks the techie language.

Sure, it may help that he doesn't want to break up big tech as some of the other candidates do. But Yang isn't promising a libertarian, laissez-faire society. During the event he talked up how he shared Elon Musk's belief that artificial intelligence needed to be reined in.

When it comes to artificial intelligence technology, he told Russell: "Going as fast as possible could have some real drawbacks or negative effects. And so, you need a different set of incentives than 'just go as fast as possible.'"

His newly unveiled tech-policy blueprint, including a tax on digital ads and the creation of a "Department of the Attention Economy," would also put new burdens and constraints on tech companies.

Yang is preaching a tech-savvy and industry-active brand of regulation — "you can't take a sledgehammer to these problems," he says — that plays well with the Valley's we-know-best mentality. He even suggested "knighting" the techies at the event, so that they could make the government operate more efficiently.

That's earned him trust, and money, from a lot of the tech industry elite. The problem is, the tech industry has lost everyone else's trust.

Read the full story here:

Andrew Yang wants to regulate big tech without breaking it up and says his fan Elon Musk is in full support

Werner in the cloud with diamonds

Amazon insiders don't appear overly worried about the company getting split up by the government, in any case.

In an interview with Julie Bort, Werner Vogels, the head of Amazon's AWS cloud business, insists that the topic never comes up internally.

"We have no intention of doing anything like that," he says.

Reuters/Richard Brian

Vogels defends the benefits of being a conglomerate, telling Bort that "the synergies are just too good" to ever consider breaking up.

Those "synergies" are exactly what critics like Sens. Elizabeth Warren and Bernie Sanders contend are giving big tech companies unfair advantages. To judge by Vogels' response, Amazon is either playing ignorant to these concerns or simply choosing to defy them.

Read the full story here:

Amazon never talks internally about breaking up or even spinning out new units, CTO Werner Vogels says

Silicon Valley's next frontier in workplace relations

On a lighter note, Rob Price has staked his claim to the insufficiently covered corporate-restroom beat.

His first dispatch from the field reveals a trend that's spreading throughout Silicon Valley: official company outreach — including memos, workplace training drills, and other communiqués — in toilet stalls.

Google was first to implement the idea years ago, but a growing list of tech companies, including Yelp and Walmart's Jet.com, are now adopting the practice.

It's the latest, and perhaps most intrusive, example of Silicon Valley's never-ending quest to maximize worker productivity.

If this Silicon Valley innovation is as successful as smartphones and instant messaging, it may soon become standard throughout the country. But I can't help wondering why the world's most cutting-edge companies are using old-fashioned paper, and not a digital format, to reach their toilet-bound toilers.

Read the full story here:

Efficiency-obsessed tech firms are sticking newsletters on toilet stall walls to keep employees productive while they poop

Samantha Lee/Business Insider

Other recent tech highlights:

And more from across the BI newsroom:

That's it for this week. As always, I'm eager for your feedback, thoughts, and tips — you can email me at This email address is being protected from spambots. You need JavaScript enabled to view it.. And if you like this newsletter, please tell your friends and colleagues they can sign up here to receive it.

Alexei

Original author: Alexei Oreskovic

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Nov
14

Amazon just made its first official challenge to Microsoft's $10 billion JEDI cloud-contract win over claims of 'unmistakable bias' (AMZN, MSFT)

Amazon has filed a protest in the US Court of Federal Claims in the Seattle-based company's first formal action against Microsoft's victory in the fierce battle for the $10 billion cloud contract with the Pentagon.

Microsoft was selected on October 25 for the controversial deal, called the Joint Enterprise Defense Infrastructure (JEDI) contract, to move the Department of Defense's sensitive data to the cloud. It's worth as much as $10 billion over a 10-year span.

"AWS is uniquely experienced and qualified to provide the critical technology the U.S. military needs, and remains committed to supporting the DoD's modernization efforts," an AWS spokesperson said in a statement. "We also believe it's critical for our country that the government and its elected leaders administer procurements objectively and in a manner that is free from political influence. Numerous aspects of the JEDI evaluation process contained clear deficiencies, errors, and unmistakable bias — and it's important that these matters be examined and rectified."

Microsoft did not immediately respond to a request for more information.

The decision came as a surprise, as Amazon Web Services was considered the likely choice for the contract for reasons such as the cloud provider's market-dominant position and high security clearance. It was generally regarded by experts as "a huge feather in the cap for Microsoft" and a "black eye for Amazon and Bezos."

The bidding process was contentious and included involvement from tech titans such as Oracle and reported interference by President Donald Trump, who has publicly feuded with Amazon CEO and Washington Post owner Jeff Bezos.

Trump wanted to "scuttle" the bidding process for JEDI for fear that Amazon Web Services might win, according to CNN, and a forthcoming book also alleges Trump last year ordered former Defense Secretary James Mattis to "screw Amazon" out of the deal.

Oracle formally challenged the JEDI bidding process, arguing it was "riddled with improprieties" that largely favored Amazon — including undisclosed employment and bonus offers to Department of Defense officials — and that the Pentagon set unfair criteria.

A federal-claims judge ultimately rejected Oracle's protest and denied the company's bid to be reconsidered for the contract, finding "individual conflicts of interest did not impact the procurement." Which is to say, the judge in the case acknowledged that there were conflicts but found that they didn't unfairly tilt the playing field.

IBM also bid on the contract. Google withdrew from contention before making a formal bid, citing possible conflicts of interest with its corporate ethics policy, as well as a possible inability to meet the terms of the deal.

Original author: Ashley Stewart

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Nov
14

What if the Earth stopped orbiting the Sun?

It's a natural cycle: the Earth orbits the sun. But what if something catastrophic happened and we were knocked out of orbit?The sun's gravity would quickly take hold of Earth and we'd go flying straight toward the sun.Turns out, you'd only have about one month to live, and over that time your demise wouldn't be pretty. Visit Business Insider's homepage for more stories.

Following is a transcript of the video.

Earth zooms around the sun at 110,000 kph, but what if it just...stopped? Well, for one thing, you'd have only a month to live.

First off, if Earth stopped short, you'd actually die immediately because you'd fly off the planet and hurtle into space, just like you lurch forward in a car when a driver slams on the brakes. But if Earth slows down more gradually, you'd instead suffer a slower (but still horrific) death. That's because the planet is about to get very, very hot.

You see, the sun's tremendous gravity pulls the Earth right toward it. Meanwhile, the planet is trying to whiz away in this direction. This tug of war keeps us in orbit. But if the Earth slows down and stops, the sun wins and yanks us toward our doom. In fact, a model from the University of Colorado shows us how long that terrible trip would take. Just two months.

In the first week, you wouldn't notice much of a change. The average global temperature would climb less than 1 degree Celsius and hover around 16 degrees for another week. But the closer we get, the stronger the sun's pull and the faster we go. This causes the temperature to rise exponentially.

By day 21, global temperatures will have jumped to 35 degrees. That's hotter than an average day in the Sahara. And with desert heat comes desert droughts, sparking wildfires and killing crops. UV radiation from the sun is so strong, we'd get severe sunburn after just 15 minutes outdoors. At this point, our bodies also will have hit the upper limit of their heat tolerance. Any hotter, and heat stroke can set in, leading to exhaustion, delirium, or even a coma. And guess what? It gets hotter.

By day 35, world temperatures will reach 48 degrees. That's as hot as an average summer day in Death Valley, one of the hottest places on Earth. Most mammals, birds, and insects die as the proteins that make up their cells start to cook. Yes, even roaches can't withstand this apocalypse. If we want to live, we need some indoor air-conditioning, stat. Except, the amount of energy you need to run millions of AC units at once would wipe out power grids around the world. So, with no way to keep cool, humanity dies.

By day 41, the Earth has passed by Venus. We're now the second planet from the sun, and temperatures have climbed to 66 degrees. But believe it or not, some creatures still cling to life. Like Thermus aquaticus, a bacteria that lives in Yellowstone's hot geysers. But less than a week later, temperatures are hot enough to boil water and kill even that bacteria.

By day 54, temperatures surpass 160 degrees, and the last remnant of life on Earth flickers out. Soon after, the barren planet crosses Mercury's orbit. For its last week of existence, Earth is the first planet from the sun. Until day 65. The final day.

By now, the sun's extreme gravity stretches the planet into an oval shape, and magma begins to leak through the crust. At about noon, Earth tears apart, bleeding liquid rock as temperatures hit 3,800 degrees. Our planet is no more.

Original author: Victoria Barranco and Shira Polan

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