If Dropbox CEO Drew Houston Could Give Any Advice To His Younger Self, It'd Involve A Tennis Ball And The Number 30,000 | ||
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During a commencement speech at MIT, Drew Houston told students his advice to his younger self would involve a tennis ball and the number 30,000. At Web Summit in Dublin on Tuesday, CNN's Laurie Segall asked Houston to clarify what two things mean. Houston said the tennis ball reminds him to work on a business he's obsessed with — like a dog who is focused on retrieving a tennis ball. He once started an SAT prep company and lost interest; he later realized it wasn't a problem he cared to spend a lifetime solving. "For any of you who had dogs, you know what a dog chasing a tennis ball looks like, but nothing will get in the way," Houston told Segall. "Finding something you’re obsessed with. The founders of these companies who go for a long time are solving problems they’re obsessed with. That for me was the start of Dropbox." The number 30,000 symbolizes the number of days are in the average person's life. By the time Houston realized that he was already down 8,000 days. "I had just moved from Boston to San Francisco. I couldn’t sleep and I was in my room reading and I read a sentence that said, 'You're going to live for 30,000 days,'" Houston said. "Every day you’re tearing off a page of the calendar. Then I went to my calculator. I was 24. I was like, "Oh my God, I'm like 8,000 or 9,000 down. It’s not like 1,000. I’m almost one-third through my life.'" Another thing he'd tell himself is you can learn a surprising amount of information in five years. Houston used to search for the top books on Amazon in marketing, sales and business and read them all. He's also learned that some of the best business leaders in tech were engineers first and taught themselves business on the job. Houston believes it's very hard to do the reverse and be a businessman who scrambles to get technical. Join the conversation about this story »  | ||
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If Dropbox CEO Drew Houston Could Give Any Advice To His Younger Self, It'd Involve A Tennis Ball And The Number 30,000 | ||
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During a commencement speech at MIT, Drew Houston told students his advice to his younger self would involve a tennis ball and the number 30,000. At Web Summit in Dublin on Tuesday, CNN's Laurie Segall asked Houston to clarify what two things mean. Houston said the tennis ball reminds him to work on a business he's obsessed with — like a dog who is focused on retrieving a tennis ball. He once started an SAT prep company and lost interest; he later realized it wasn't a problem he cared to spend a lifetime solving. "For any of you who had dogs, you know what a dog chasing a tennis ball looks like, but nothing will get in the way," Houston told Segall. "Finding something you’re obsessed with. The founders of these companies who go for a long time are solving problems they’re obsessed with. That for me was the start of Dropbox." The number 30,000 symbolizes the number of days are in the average person's life. By the time Houston realized that he was already down 8,000 days. "I had just moved from Boston to San Francisco. I couldn’t sleep and I was in my room reading and I read a sentence that said, 'You're going to live for 30,000 days,'" Houston said. "Every day you’re tearing off a page of the calendar. Then I went to my calculator. I was 24. I was like, "Oh my God, I'm like 8,000 or 9,000 down. It’s not like 1,000. I’m almost one-third through my life.'" Another thing he'd tell himself is you can learn a surprising amount of information in five years. Houston used to search for the top books on Amazon in marketing, sales and business and read them all. He's also learned that some of the best business leaders in tech were engineers first and taught themselves business on the job. Houston believes it's very hard to do the reverse and be a businessman who scrambles to get technical. Join the conversation about this story »  | ||
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Report: The Gold Apple Watch Will Cost Up To $5,000 (AAPL) | ||
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A new report from French Apple rumours website igen.fr claims that the premium gold version of the Apple Watch will retail for a figure between $4,000 and $5,000. The Apple Watch Edition, as the company is calling it, is the most expensive version of the Apple Watch. It is made from 18-carat gold, features special gold straps and buckles, and will come with a special box that charges the device overnight. Other releases of the Apple Watch will only come with a metal stand. Apple has been targeting big names in fashion with the launch of the Apple Watch. Top fashion editors including Anna Wintour were invited to an event in Paris where Apple's design chief Jony Ive showed off the new device. Apple hasn't officially announced the price of the gold Apple Watch yet. There has been speculation in the past that it could retail for up to $10,000. Join the conversation about this story »  | ||
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10 Things In Advertising You Need To Know Today | ||
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Here's all the important advertising news to read up on this morning. 1. We interviewed the most important man in advertising, Sir Martin Sorrell. He spoke about the rise and rise of ad tech, “grey swans,” his career highlights and lows and his old rivalry with competitor Publicis Groupe boss Maurice Levy. 2. Maurice Levy has responded to Sorrell’s comments (who had said Levy was “deeply upset that in any contest in the public markets, [WPP has] always emerged successful”). Levy said Sorrell was “acting like a toddler arguing who’s got the best Halloween costume.” 3. It turns out a marketing company was behind the “Alex for Target” teen social media sensation. Breakr — a company that helps content creators spread the reach of their work — claims it was fueling the fan girl file, turning the kid with Justin Bieber-esque looks into an overnight viral success. But Alex tweeted last night saying he and his family have never heard of the company and the girl who originally posted his photo also denies having heard of Breakr, Adweek reports. The mystery continues… 4. People who suffer from “shy bladders” want DirecTV to pull its Rob Lowe commercial. The International Paruresis Association has taken issue with Lowe saying in the final scene of the ad, while standing at a public urinal: “Fact: I can’t go with other people in the room.” 5. People who work in advertising are making more money from their investments than people in finance. Data from investment app Openfolio found people who work in advertising and media generate better returns on their investments and place more of their money in tech stocks. 6. Here are 11 facts hardly anyone knows about Nike. From its original name to the story behind its famous “Just Do It” tagline. 7. KFC has unveiled a radical redesign of its UK restaurants. The upmarket, hipster-esque interiors will roll out to all its UK outlets in 2015. 8. An ad from UK newspaper The Sun offering a date with a topless model has been banned for being sexist. The Advertising Standards Authority said the email promotion for a competition to win a date with one of its Page 3 Girls “enhanced the impression that the women were simply objects to be selected at the whim and enjoyment of the winner, and had no choice in the matter themselves.” 9. Digiday reports that Snapchat is in negotiations with Comedy Central, Spotify, BuzzFeed, The Daily Mail, Hearst, Time, National Geographic, CNN, Vevo, ESPN and Vice. The media companies will be helping the company launch its new Discover content section, Digiday claims. 10. As the countdown to the new John Lewis Christmas ad nears the final hours, Marketing Magazine charts the evolution of the campaign from 2007 to the present day. The unveil of the John Lewis Christmas commercial is a calendar event in the UK. Join the conversation about this story »  | ||
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People Are Freaking Out After A Benedict Cumberbatch Wedding Announcement Appeared In The Times | ||
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Actor Benedict Cumberbatch's parents have left Britain in panic after seemingly announcing his engagement to theatre director Sophie Hunter in an inconspicuous newspaper advert. It's not clear whether the wedding announcement is real or not. Nonetheless, the idea that Sherlock star may no longer be a bachelor is likely to leave scores of fans — who refer to themselves as "Cumberbitches" — distraught. The wedding plans were printed in the Times newspaper's "Forthcoming Marriages" section, Sky today reports, and in a small story on page 20. The classified ad says: "The engagement is announced between Benedict, son of Wanda and Timothy Cumberbatch of London, and Sophie, daughter of Katharine Hunter of Edinburgh and Charles Hunter of London." The Times appears to have whiffed on the news: It ran the classified before anyone noticed that it was huge news, and only belatedly squeezed in a story in late editions. Many fans have taken to Twitter today to proclaim their astonishment and heartbreak, while others are simply searching for clues to find out whether the announcement is a hoax. So far, neither Cumberbatch or Hunter have confirmed the engagement. And he did little to confirm or deny the rumours of the couple tying the knot in the lead up to the classified ad, which came out on Monday, as rumours circulated about wedding plans. | ||
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Retailers In The Eurozone Show Just How Little The Bloc Has Recovered | ||
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September's retail sale figures are the eurozone's latest grim economic indicator: sales dropped 1.3% from August to September, up just 0.6% from September last year. Some recovery. Analysts had expected a 0.8% drop in sales between August and September, which would still have left the figure up by a modest 1.2% from September last year. Not only are the eurozone's retail sales not back at pre-crisis levels, they're not even back at 2010 levels, still hurting from the European Central Bank's 2011 rate hikes. While the UK and US economies are back above their 2008 levels, the euro area is still lagging far behind. And with dismal growth expected for years, the gap between the major recovering economies and most of Europe is likely to grow.
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Eurozone Retail Sales Plunge In September | ||
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Eurozone retail sales fell by 1.3% between August and September, verses an expected drop of o.8% Eurostat said the decline is due to falls in the non-food sector and a 0.1% fall in"food, drinks, and tobacco." The figure represents a 0.6% increase in volume of retail trade compared with the same month last year. Malta, Luxembourg, Hungary and Slovakia saw the highest increases in total retail trade, while Finland, Poland, Denmark, and Germany recorded the largest decreases.
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Oil Is Crashing | ||
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Oil prices are sliding even further in early trading, with the commodity stumbling for the fifth consecutive day. Brent crude fell 90 cents, or 1%, to $81.92, its lowest value since 2010.
While West Texas Intermediate (WTI) crude dropped to $76.59, down 70 cents from yesterday. It was its lowest reading since September 2011. However, it fought back on Wednesday and is now trading at $76.94
The FT reports that both Brent and WTI prices are down 29% from their peak in June this year, when the advance of ISIS had threatened to sink production in Iraq. The oil price collapse is particularly hitting countries like Venezuela, Nigeria and Saudi Arabia. However, analysts report that the Saudis are prepared to let the price slip even further to preserve their share in the US market, which has come under intense pressure from the shale boom. In order to make a profit, shale oil producers need the crude price to be around $76-77, otherwise their product would not be competitive against overseas production. Saudi Arabia, the world's largest producer of crude, is determined to maintain its position against competitors in the US. The oil price is also impacting the Russian economy, already shattered by Western sanctions over Ukraine. Today the Rouble hit a new record low despite billions of dollars being spent by the country's central bank to prop it up. Join the conversation about this story »  | ||
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Marks and Spencer shares jump as profit beats forecasts | ||
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London (AFP) - British retailer Marks and Spencer posted mixed half-year profits on Wednesday as warmer-than-expected weather dented demand for autumn-style clothing, while its food unit reported strong sales. Net profit dropped 8.5 percent to £228.3 million ($364 million, 291 million euros) in the six months to late September compared with the equivalent period in 2013, M&S said in an earnings statement. Underlying pre-tax profit rose 2.3 percent to £268 million in the latest reporting period. The better than expected result sent M&S shares surging to the top of London's FTSE 100. "Within clothing, womenswear performance continues to improve with growth in full price sales and increasingly positive feedback from our customers," the statement said. "However, the recent market conditions remain challenging, with unseasonal weather resulting in high levels of promotional activity across the market... We expect our food business to continue to outperform the market with a higher number of new Simply Food stores planned over the next three years, up to 200 from 150 previously guided," it added. The group's share price surged 6.33 percent to 430.3 pence on the benchmark FTSE 100, which was up 0.50 percent at 6,486.22 points in early deals. "The profit beat (forecasts) and improvement to gross margins have taken investors by surprise, with the share price strongly ahead," said Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers. "Gross margin has shown a strong improvement, in part due to the tight control of costs which M&S is currently undertaking," he noted. Join the conversation about this story »  | ||
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Eurozone PMI Makes For An Ugly Reading | ||
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Markit's eurozone PMI Composite Output Index — which is based on a survey of thousands of companies — inched higher to 52.1 in October, up from 52.0 in September. Although this signals the 16th consecutive month that output grew (any number above 50 indicates growth), it wasn't all positive news. "Spain and Germany all reported increases in new business, but this was partly offset by contractions in Italy (fastest in 11 months) and France (steepest in 16 months)," the Markit report said. The eurozone's services industry fell to 52.3 in October, down from 52.4 in September. Chris Williamson, Chief Markit Economist said: "The eurozone PMI makes for grim reading, painting a picture of an economy that is limping along and more likely to take a turn for the worse than spring back into life. While output grew at a slightly faster rate than in September, consistent with quarterly GDP growth of 0.2%, a near- stagnation of new orders, with the worst reading for 15 months, suggests that the pace of growth may deteriorate in coming months."
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