Why Facebook's 'empathy room' and globe-trotting engineers are so important to its business (FB) | ||
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As a Facebook employee, Nikila Srinivasan gets the company's standard list of perks like vending machines with free computer accessories, unlimited dry-cleaning, and on-site work-out facilities. But, as a product manager of its emerging markets monetization team, she also enjoys another nice work benefit: A whole bunch of traveling. Srivinivasan is one of the people responsible for making sure that Facebook's ads work, look great, and are tailored to different audiences all around the world, particularly in new markets like India, Turkey, and Kenya. Facebook launched a program called Creative Accelerator earlier this year to help brands and their agencies make their ads work on every mobile device and connection type. That's where the traveling comes in. Srivinivasan told Business Insider that by visiting different countries, she and her team pick up on nuances in how people use Facebook and their phones — including what average bandwidth and connections are like — and can then turn those insights into actionable advice for how advertisers should build their campaigns. For example, in India, Facebook has an ad product called "missed call" that's based on a way that people there typically cut down on their phone bills. If someone in India wants to talk to someone, but doesn't want to waste their phone plan, they will call that person's number, hang up after it rings, and wait to get a call back. So, building off that, Facebook has created a product where people can avoid using their data plan by clicking on an ad on Facebook mobile and then having the advertiser pay the data costs of sending them some sort of content, like music or a celebrity message. Facebook has also found that people in the Middle East consume more video per person than any other region in the world. But, many people there also have "typical" smartphones (Srivinivasan says that Facebook doesn't call them "low-end"), so the company helps advertisers make sure that their videos will be easy to understand and to view no matter the screen size or resolution. The company's "empathy room" comes in handy there, too. Facebook has a dedicated room in its HQ filled with low-end Android smartphones and old flip phones. The room simulates the sluggish wireless connections that many experience abroad, so employees like Srivinivasan and her team can test out what viewing Facebook and ads would really be like for someone in Kenya or India. Facebook officially makes more than half of its advertising revenue overseas, so the empathy room and the work that Srivinivasan and the Creative Accelerator team do is more important than ever. That's why she also told us that Creative Accelerator is opening up its platform from seven brand partners to many more around the world. "When we travel to all these different countries, it's amazing to see how many common patterns emerge and how many nuances do too," Srivinivasan says. "But irrespective of the type of device and the type of connection, people's excitement to be able to create and consume content that's rich — like video or photos — doesn't diminish. Just because I'm a feature phone user with a bad connection, that doesn't mean that I should have to see anything that's any less engaging." SEE ALSO: Mark Zuckerberg says he wants Facebook to build more tools to let people help each other Join the conversation about this story » NOW WATCH: Here's what happens when you drop an Apple Watch face down on cement  | ||
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Here's what one former Twitter insider thinks could happen with the CEO search (TWTR) | ||
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The hunt is on for Twitter’s next permanent CEO, after Thursday’s bombshell that Dick Costolo is stepping down. Twitter has said it will consider both internal and external candidates, while co-founder Jack Dorsey temporarily takes the reins as interim CEO. Twitter has said there is no timetable for choosing its next permanent CEO and it appears as if the company has not even selected a headhunting firm yet. But the tech world is already abuzz about how things might play out. One former Twitter insider shared some interesting insights about some possible scenarios. It’s important to note that this is simply the source’s informed speculation, but it's worth considering. An acqui-hire CEO:Twitter, according to Recode, has recently had acquisition talks to acquire Flipboard, a mobile newsreading app that is critically acclaimed for its slick design and product features but which has struggled to become a hugely popular app.
Twitter would fill a product hole by getting the Flipboard app, it gets a team of valued engineers (Flipboard currently has between 100 and 120 employees, not all engineers, according to the source) and it would get McCue, a veteran tech executive with proven product chops and operational experience within a large organization. (McCue previously was a general manager at Microsoft after it bought TellMe, his voice recognition technology company). Once Flipboard was acquired by Twitter, McCue — who is a former Twitter board member — would become a Twitter employee. From there, the search committee would put McCue on the shortlist of CEO candidates and ultimately give him the job. Why not just hire McCue outright as the CEO? Our source believes that McCue wouldn’t do it unless it included a face-saving option of his company being acquired. So effectively, it would be a very expensive acqui-hire — Flipboard was reportedly valued at $800 million during its last fundraising in 2013. Of course, Wall Street might not be very pleased with a CEO hire that costs hundreds of millions of dollars and which saddles the company with additional costs in the form of an extra 100 employees, even if they are well-regarded engineers. The Bain conundrumMeanwhile, there’s another potential issue as Twitter searches for its next CEO. Many people inside and outside the company have fingered Twitter head of revenue Adam Bain as the natural internal candidate. Bain is responsible for building Twitter’s free service into a money-making business, he has demonstrated smart product vision and he is well-liked within the company. The only knock against him is that he’s from the business side of the company, and many people feel that Twitter needs a product person at the helm.
“It’s a Ross Levinsohn no-win situation,” said our source, likening it to the well-regarded Yahoo sales executive who left the company after losing out to Marissa Mayer for the CEO job in 2012. Mayer has made improvements rebuilding Yahoo’s products since becoming CEO, but the company’s sales have been stuck in a rut for years. SEE ALSO: We talked to Jack Dorsey and Dick Costolo. Here's what they had to say... Join the conversation about this story » NOW WATCH: The 3 people Yahoo CEO Marissa Mayer leans on for advice  | ||
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By acquiring Flipboard during the CEO search process, Twitter could kills several birds with one stone. 
The problem is that if Bain throws his hat in the ring, and either doesn’t make it to the short list of CEO finalists or makes it the final cut but is then passed over for someone else, he might leave the company. Twitter would lose its money-man, which would be a very big loss. Stanford's president, one of the most influential people in Silicon Valley, is stepping down | ||
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Stanford's president John Hennessy is stepping down in summer 2016, the University just announced. Normally, a university president stepping down isn't a big deal in the world of business. But Hennessy is one of the most influential people in Silicon Valley, a quiet power broker with lots of connections. He invented an early microchip architecture. He's on the board of directors at tech giants Google and Cisco. When President Obama came to town to raise money in 2012, Hennessy was right there at the exclusive private tech industry dinner alongside Steve Jobs, Larry Ellison, and Mark Zuckerberg. Stanford is right in the physical heart of the valley, but it's also at the heart of the tech industry. The best students in the field are being offered as much as $500,000 to take jobs at big name tech companies. Some of the tech industry's biggest and most successful companies, like Google and Yahoo, were started by students while they were still at Stanford. It's famous for its classes on entrepreneurship taught by successful investors like Peter Thiel. A lot of that is to Hennessy's credit. As Stanford put it in the announcement of his stepping down, "Hennessy, a pioneering computer scientist who founded technology companies, advocated as president for constructive relationships between universities and industry in order to more rapidly bring academic discoveries to the public." Hennessy has been the president there since 2000, and was previously the dean of the school of engineering, and chair of the computer science department. He'll go back into teaching and research. The school will search for new president during the next academic year.
Join the conversation about this story » NOW WATCH: Mark Cuban has a brilliant strategy to get the best college degree for less money  | ||
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These 9 startups you've never heard of could be worth $1 billion very soon | ||
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With more than 100 startups valued at $1 billion or more, the term "unicorn" — given to startups worth more than $1 billion — has lost some of its magical aura. But a $1 billion valuation is still a huge milestone for any startup. Pitchbook, a private equity and VC data research firm analyzed various patterns and other data to identify the next 9 startups expected to reach the $1 billion threshold. They may not all be household names, but they could become the next unicorns. 1) Weebly - A web-hosting service with over 25 million users - Latest valuation: $490 million - Latest financing: $35 million (Series C; April 2014) - Lead investors: Sequoia Capital, Tencent Holdings - Year founded: 2007 2) Remind - An app that helps teachers keep in touch with students and parents - Latest valuation: $460.8 million - Latest financing: $40 million (Series C; September 2014) - Lead investors: First Round Capital, Kleiner Perkins - Year founded: 2009 3) Moovit - An app that gives real-time public transit information - Latest valuation: $450 million - Latest financing: $50 million (Series C; December 2014) - Lead investors: Sequoia Capital - Year founded: 2011 See the rest of the story at Business Insider  | ||
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Gauging Apple Watch’s huge opportunity in the luxury-wristwatch market | ||
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Apple's trusted, high-end brand will give the smartwatch category immediate clout and help drive much more interest among consumers, particularly those attracted to luxury goods. And the pricing, materials, and design on certain models will make the Apple Watch the first smartwatch to compete in the luxury-wristwatch category. In this report on the smartwatch market and the luxury wristwatch market, BI Intelligence takes a closer look at the opportunity for Apple's wearable device, how it might impact the market for luxury watches, and forecasts shipments for both Apple Watch and the broader luxury watch market over the next five years. We also examine the pricing and design strategy behind Apple Watch, the new retail distribution opportunities with this device, and the wider opportunity among tech-savvy consumers. Here are some key points from the report:
In full, the report:
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I just interviewed Jack Dorsey and Dick Costolo. Here's what they had to say... (TWTR) | ||
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In a bit of a surprise, Twitter CEO Dick Costolo announced on Thursday afternoon that he would be stepping down as CEO effective July 1. In his place, Twitter founder, and board member Jack Dorsey will become interim CEO. I got on the phone to talk with them about why Costolo is stepping down now, and what Dorsey plans to do. Based on my conversation, it sounds like Dorsey is interested in being CEO of Twitter, full time. I asked him directly, twice, if he wanted to be full time CEO. And he didn't say no. He just said he was focused on his job as interim CEO. "I’m not focused on that question at all," Dorsey said. "I’m focused on making sure we continue our momentum and to amplify what we’re doing." For what it's worth, The New York Times reports, "Ever since his ouster in 2008, Mr. Dorsey has wanted to return to the helm of Twitter, according to two people with knowledge of his thinking." It would make perfect sense for Dorsey to become CEO. He founded the company, he has always aspired to be the leader of a big consumer focused technology company, a la Steve Jobs. He's currently the CEO of Square, but that has pivoted to be more of a small business focused company. As for Costolo, he says he was ready to move on. He says he put together a great team that was clicking and he felt like the company was never in a better position. "There’s never going to be a perfect time. And I decided at the end of last year that the important thing to do was get the team into a robust and stable place, with a strategy in place that we loved and were executing against." While that may be true, Costolo was under a lot of pressure as CEO. Twitter's user growth rate had slowed, and the company missed revenue estimates last quarter. Twitter has 300 million monthly active users, which is sizable, but is dwarfed by Facebook which has 1.4 billion active users. Instagram now has over 300 million monthly users. With Snapchat gaining fast on Twitter, it's not hard to see a world where Twitter is suddenly the fourth or fifth option for advertisers looking to spend money on a social platform. Investors were growing impatient with Costolo, which likely quickened his departure. While Costolo's ending on a rocky note, the truth is that he did a good job in his time as CEO. As he said to me, he took a company with no revenue valued at a billion dollars and helped steer it to billions in revenue, a $24 billion valuation, and a successful IPO.
Here's the full transcript: Business Insider: Dick, on the call before, you said that you started having these conversations with the board at the end of last year. And then it picked up some more steam around February, and then you decided to make it public. Can you give me any insight into what the thinking was, what precipitated this at the end of last year that caused you start thinking about moving on? Dick Costolo: Yeah, I told a few, a couple of members of the board at the end of last year. At the time, I only talked to a couple of them, and said, next year, if we feel like the team is really in the right place and we’re executing the strategy and doing the things we said we’re going to do, I want to start thinking about what’s next in life for me. So let’s keep an eye on that and check back in in the February board meeting and see where we are. Then that was on the heels of our analyst day investor conference in November, where we were all, as a leadership team, getting excited about the way the way that strategy was coming together, the way the team was starting to gel. And I remember Kevin Weil at that conference got up, and said, and boldly declared, you’re going to see a pace of execution from us early next year that you haven’t seen from the company before. And people were taken aback by that, but that was the kind of confidence that we were starting to have in the team. At the February board meeting, after the board meeting, I got together with more of the directors in the immediate aftermath of that. And said, “I think we all now really like the way the team is working together. I sure do. They’re forward right with each other, they engage directly with each other in debate, they solve problems together, there are no sharp elbows.” Not only that, Alex and Kevin on engineering and product are starting to build up a next level of leadership underneath them. This was a conversation that you and I had even had a month before at CES. So I was excited about the progress we were making, and said, listen, at the summer board meeting in June, when we’re, trying to come to some to figure out where we are, and if we still feel great about this, then let’s move forward. That meeting was last week. And in the aftermath of the board meeting, we all, the board sat around the table for a few hours and had this discussion and, stuff like, the team has never been stronger, ever. The org is stable and robust and the pace of execution and quality of execution against a clear strategy that we all believe in has never been better. And on the heels of Fabric’s immense growth in its last year and our Periscope acquisition that’s working so well, there’s not going to be a better time than this to move forward with this transition. BI: The story of Twitter has been one of upheaval, turmoil, and change. If you believe the team is strong, things are gelling, doesn’t that throw it all asunder? You’re bringing in someone new. Doesn’t that put a lot of pressure and stress and more shakeups into a team that’s had a lot of that through the years? DC: Well that would be true if it was someone from the outside, but we have the benefit of Jack being the chairman of the board, the inventor of the product, and a cofounder. He’s already a visible leader within the company, he speaks to the company and in company events both in the US and abroad with some frequency. There’s no one better than him to lead the company through a transition like that. He’s close to my entire leadership team. I felt the scrutiny of the company would intensify if I remained CEO while we kicked off a process like this. As such, we all felt it would be a distraction to the company, and we didn’t think it was in anyone’s interest to have that distraction. So bringing Jack in while we embark on this process to give the board the search committee of the board the time and space to do this with the right person leading the company. BI: That would make sense if Jack was sticking around. Jack, do you want to be the CEO? The New York Times is reporting, according to people familiar with you, that you have angled to be more prominent, you’ve longed to be returning to Twitter and run it. So is "interim" just a thing to hold us, or are you really just interim? Jack Dorsey: My focus is on interim, and my focus is on making sure we continue our momentum around all of our products and initiatives. And that we continue our pace of delivery, and facilitating a smooth transition as the board conducts a search for a permanent CEO. We do have a search committee comprised of Peter Currie, Peter Fenton, and our cofounder Evan Williams, and we’re going to take the time to pick and choose the right CEO for the company. I’m not focused on that question at all. I’m focused on making sure we continue our momentum and to amplify what we’re doing. BI: Do you want to be the permanent CEO? JD: Again, I’m not going to answer that because it’s not my focus, it's not what I’m thinking about, I have enough to focus on. BI: I’m curious, if the momentum is great and everything’s good and the strategy is not going to change, then why do this now? What about this job did you not want to do any more that you decided to make this change? DC: It’s not that. I came to Twitter in August of 2009, I was asked to come in as the COO. There was only about 60 people here, tens of millions of users, one office, zero dollars in revenue, valued at $1 billion. We were just doing a round as I got to the company that Insight Venture Partners led that valued the company at a billion dollars. It’s grown to $24 billion, or whatever it is today, 4,000-some people, hundreds of millions of users, and dozens of office around the world. I’ve accomplished, you know, an extraordinary amount and despite all that there are still way more items on my list of hopes and dreams and potential for the company. It’s never gonna be — and for no great leader it should ever be — completely the case that you have more accomplishments than you have hopes and dreams for the company. There’s never gonna be a perfect time. And I decided at the end of last year that the important thing to do was get the team into a robust and stable place, with a strategy in place that we loved and were executing against. And adding into all that the ability to have been able to have brought Periscope into the company, one of the most compelling, new, powerful native mobile video apps that’s really off to the races. I just thought I wasn’t going to find a more perfect time than this. BI: In the Valley, there’s a fixation on founder-led companies. I think one of the criticisms you got a lot, Dick, was that you didn’t have the vision for the product, and the vision for where to take this product and where to take this company. Jack you’re going to step in and execute that. Do you feel like you have a better idea as the founder of this company, the person who had originally had to sort of take it to the next level and see where this product can go? JD: I’m coming into the company as interim CEO with a strategy and a direction that Dick’s set forth with his team and I believe in that. So I don’t consider it founder and non-founder, it’s really about the direction and I am extremely confident in it. BI: One last question you want to answer Dick - You want to tell us what you honestly think about Chris Sacca and what he’s been saying lately? DC: You know what, I think that it’s great that we work at a company that people are so passionate about. If we didn’t, that would be a terrible thing. It’s because of Twitter’s role in the world, its potential, remarkable social, socioeconomic, and cultural, global impact that people feel so strongly about it and they have very specific ideas about what should be done. Everybody should be working at a company like that. Join the conversation about this story »  | ||
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Uber's growth in China is stunning | ||
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Uber's top cities are no longer in the U.S. Four out of the top 10 are now in China, according to an email sent by Uber CEO Travis Kalanick to investors and obtained by the Financial Times. Guangzhou, Hangzhou, and Chengdu are now the three largest cities on a trips basis, overtaking New York, the email stated. In the request for money from investors, Kalanick explained just how fast the company is growing:
To grow in China, the company is formally launching a fundraising round on June 22. The company has previously raised more than $5 billion in several funding rounds, including a $600 million investment from Chinese company Baidu. SEE ALSO: Uber investor Chris Sacca thinks Carl Icahn made a 'big mistake' backing Lyft Join the conversation about this story » NOW WATCH: The 12 best new features coming to the iPhone  | ||
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WHY NOW: Dick Costolo explains why he stepped down before a new CEO was named | ||
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Twitter announced today that CEO Dick Costolo is stepping down and that cofounder Jack Dorsey will take the role in the interim. Although investors and analysts have spent the last several weeks chattering about replacing Costolo, the announcement comes at an interesting time, since Twitter hasn't picked a permanent replacement yet. Also, these kinds of announcements often happen during a company's earnings report. During a press conference to discuss the news, Costolo said that he first broached the subject of finding a CEO to succeed him with the board at the end of last year. Then, during the most recent board meeting in February, Twitter decided that the time was right to start looking for a candidate, in part because of the strength of the rest of management. "We’re making this public announcement prior to naming a permanent CEO and in fact at the very start of the official search because we want to be open about our search for Twitter’s next long term leader," Costolo said in a prepared statement. "We also want to attract the best possible candidates and not distract the organization with the inevitable speculation and rumors that would obviously occur if we were to attempt to conduct a CEO search privately." Later on the call, several people continued to press him on the "why now" question. He reiterated that Twitter's management team was stronger than ever, and that he and the board realized there was a "unique opportunity" to bring Dorsey back on board, since he's "an innovator" who been an integral part of the company since the beginning. Despite that eye for innovation though, Dorsey said that from July 1, when he starts as CEO, until the company selects a new exec, he doesn't plan on changing Twitter's product strategy or vision at all. He also said that Costolo stepping down had nothing to do with Twitter's near-term financials. That response again surfaced the question, then why bother having Costolo step down before picking a permanent successor? "I personally felt like the scrutiny of the company would intensify if I remained CEO while the search process was ongoing and as such I thought it would be a distraction for the company," Costolo said. "And, frankly, I didn’t think it was in anybody’s interest to have that distraction." SEE ALSO: Twitter CEO Dick Costolo will step down Join the conversation about this story » NOW WATCH: Zuckerberg: Why I Stayed Facebook CEO Even Though Many Thought I Should Quit  | ||
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Twitter users want a woman to be the company's next CEO (TWTR) | ||
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Change is afoot at Twitter. The company just announced that its current CEO Dick Costolo will step down from his post, and co-founder Jack Dorsey will act as interim CEO. But the question remains: Who will be hired as the company's next full-time CEO? We won't know until a selection committee is formed and it makes a formal decision. But Twitter users have already begun voicing their opinions. And, for many, diversity is key. With that, a bevy of users have begun tweeting their support for a woman to take the helm of the company. Here are some examples: SEE ALSO: Here's an Android app that gives people in censored countries access to Twitter Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about  | ||
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Dick Costolo would have been paid millions if Twitter had fired him (TWTR) | ||
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Twitter announced that Dick Costolo will not receive any severance for stepping down as CEO. But if he had been fired? He would have been entitled to millions of dollars. According to an SEC filing in April, Costolo would have made roughly $3.2 million in severance pay, mostly in stock, if he was fired by the company. If Twitter had a change in ownership, and Costolo had lost his job as a result of that, he would have earned a much bigger payout — worth more than $25 million. But since Costolo voluntarily stepped down, he's not entitled to anything, as seen below. All of his unvested stock will also be cancelled out, according to an 8K filing.
The amount listed in the filing is based on the share price of $35.87 per share, the closing market price on December 31, 2014. Twitter share closed at roughly the same amount ($35.84) on Thursday. Although Costolo is walking away with nothing in severance, he's already made quite a fortune by holding on to Twitter stock from early on. He still owns roughly 8 million Twitter shares, which would be worth almost $300 million. SEE ALSO: Twitter's biggest problem in one chart Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about  | ||
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Here are all of Google's awesome science projects — that we know about | ||
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Google is doing much more than providing the most popular search engine in the world. With plenty of money to throw around, Google encourages "moonshot" ideas, which are developed using their Google X and Google ATAP labs. Here are some of the biggest and best projects they are working on. Produced by Justin Gmoser Follow BI Video: On Facebook
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Uber CEO Travis Kalanick enjoys hot tubs so much he'll stay in them for 8 hours at a time | ||
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Billionaire Uber CEO Travis Kalanick really likes hot tubs. He likes them so much, in fact, that he stays in them for hours at a time, according to venture capitalist and early Uber investor Chris Sacca. In an interview with Bloomberg TV's Emily Chang, Sacca talked about the hot tub at his California home near Lake Tahoe, which he calls the "Jam Tub." Sacca says Travis Kalanick used to spend "eight to ten hours" there at a time. "I've never seen a human with that kind of staying power in a hot tub," he said. Sacca and Kalanick aren't as close as they once were, however. "If I'm involved in your business, I'm gonna share my opinions with you about how certain aspects of the business are going," Sacca said on the rift between himself and Kalanick. "They're gonna be really strong opinions, likely in your face. I think I can rub people the wrong way. In particular, I wanted to own more Uber stock. And so I was, at the time, trying to buy it from more people. Travis didn't like that." Sacca's VC firm, Lowercase Capital, invested $300,000 in Uber's angel round. Sacca also helped the company buy the name "Uber" from Universal Music Group. Now, Lowercase Capital owns 4% of Uber, which is valued at $41 billion. But now Sacca and Kalanick "barely speak," Sacca told Forbes earlier this year. Sacca also talked about how he and his wife make founders dinner and take them hot-tubbing in an attempt to evaluate potential founders for his firm's portfolio. He assesses founders based on whether they clean up after themselves after dinner. According to Bloomberg, Sacca “would see people who wouldn’t actually get up to put their dishes in the sink, and immediately be like, ‘No way. Like, there’s no way we’re getting in and doing business with them.’” Watch the full video below:
SEE ALSO: Uber investor Chris Sacca won't invest in your company if you don't do your dishes Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about  | ||
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Uber is asking its investors for more money to expand in China | ||
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Uber is nearing 1 million rides a day in China now and looking to raise new funds to expand there, according an email leaked to the Financial Times. The email said, "given the enormity of the opportunity," its formally launching a fundraising round for UberChina on June 22. Uber is inviting its previous investors to participate in it. Uber has not responded to request for comment. "Simply stated, China is the #1 priority for Uber's global team," Kalanick said in the email. Guangzhou, Hangzhou and Chengdu are now the three largest cities on a trips basis, overtaking New York, according to the note. The company has previously raised more than $5 billion in several funding rounds, including a $600 million investment from Chinese company Baidu. SEE ALSO: The one part of the world Uber has yet to conquer Join the conversation about this story » NOW WATCH: Gen. Stanley McChrystal on how Uber operates just like a special forces unit  | ||
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There were a lot of problems the last time Jack Dorsey was CEO of Twitter | ||
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Jack Dorsey, Twitter's new interim CEO, has been CEO of the company before. The last time around, he got pushed out and he later said that felt like a "punch in the stomach." It's been nearly a decade since Dorsey's ousting at Twitter, but here's what happened back then. Dorsey was the person who actually came up with the idea for a micro-blogging site like Twitter. He sketched it out on a piece of paper in the early 2000s, called it Stat.us, then shelved it to pursue a career as an engineer. He joined Evan William and Biz Stone's podcasting startup Odeo, but when it began to go sideways, the startup looked for other ideas to pivot into. Dorsey and another engineer named Noah Glass (who was later pushed out of the company) presented the idea for Twitter and began working on it with Williams' blessing. When Twitter finally spun out of Odeo in 2007, Dorsey was named CEO. He was only 30 years old then. But under Dorsey, Twitter wasn't the most stable place. It gained significant traction but both the product and the team began to crumble. "Jack is crazy-smart and a product visionary and all that," one person familiar with Jack's early work there told Business Insider in 2013. "But Jack wasn't ready to be CEO at that time."
The site constantly crashed, making the Twitter "fail whale," which appeared when the site went down, a more prominent mascot than Twitter's blue birds. In 2007, the year Dorsey became CEO, Twitter's total downtime was six days. The constant crashing was a source of stress. "Jack's role was that of a founder and a heavy influencer at the board level," said the person who worked there. "But he is not operational...he's not broadly effective." "Jack is very smart, but he is not a leader," said another. "He can inspire investors more than employees." Dorsey's interest in and facility with the financial side of the business left much to be desired. Dorsey, according to Nick Bilton's book Hatching Twitter, made mathematical errors while keeping track of Twitter's expenses. He set up partnerships with texting companies but SMS fees were so high, Twitter was spending nearly 6-figures per month. Dorsey had also not yet focused entirely on Twitter: He wanted to be a fashion designer, and he'd often leave work to take night classes. He also left early for art and yoga classes. His extracurriculars eventually became such a distraction, Bilton reported, that Williams eventually sat down with Dorsey and said, "You can either be a dressmaker or the CEO of Twitter. But you can't be both." You can either be a dressmaker or the CEO of Twitter. But you can't be both. Sometime during 2008, Odeo founder and financial backer Evan Williams got fed up. He decided that he should be — and would be — the CEO of Twitter. Williams had more money than Dorsey and three or four times as much Twitter stock. As Twitter's majority shareholder, when Williams made a decision, it was final. The Twitter board agreed that Dorsey wasn't working out, and they backed the decision to remove Dorsey. When Williams came after Dorsey's position in the fall of 2008, it was an ugly "violent exchange," a source told Business Insider.
Unlike Dorsey, Williams was a proven entrepreneur. "Ev had more credibility than Jack," says the source. "He wanted the job. He got the job. That's why their relationship is a little touchy...He made it happen." Publicly, Williams lay Dorsey's firing at the board's feet. And, ultimately, the board may have done the dirty work. Two of its members, Bijan Sabet and Fred Wilson, took Dorsey out to breakfast and delivered the blow, Bilton reports. They told Dorsey he'd receive $200,000 severance and become a silent chairman; Williams would be Twitter's new CEO. On October 16 2008, the news was made public. "While the board of directors and the company have nothing but praise for where Jack has taken us, we also agree that the best way forward is for Jack to step into the role Chairman, and for me to become CEO," Williams wrote then. Dorsey knew who had sacked him. For the next four years, Dorsey and Williams barely talked. Dorsey nearly joined Twitter's greatest competitor, Facebook, out of spite. Dorsey later told Vanity Fair's David Kirkpatrick his ousting felt like "being punched in the stomach." "Twitter held all my desires in the world," he said. Dorsey learned a common startup lesson the hard way: Coming up with an idea doesn't mean you own the business. "I let myself be in a weird position because it always felt like [Evan Williams’s] company," Dorsey later said. "He funded it. He was the chairman. And I was this new guy who was a programmer, who had a good idea. I would not be strong in my convictions, basically, because he was the older, wiser one.” One year later, in 2009, Dorsey founded another company, Square, with a new group of investors. It was a startup no one would be able to rip away from him, and it's grown to become a multi-billion-dollar company. SEE ALSO: CONTROLLING CHAOS: The complete dramatic history of Twitter Join the conversation about this story » NOW WATCH: 70 people were injured while filming this movie with 100 untamed lions  | ||
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Uber investor Chris Sacca won't invest in your company if you don't do your dishes | ||
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Chris Sacca has invested in companies like Twitter and Uber through his venture capital firm Lowercase Capital. But there's one thing, Sacca says, that would keep him from investing in a company. In an interview with Bloomberg TV's Emily Chang, Sacca talked about how he brings founders to his home near Lake Tahoe. He and his wife make founders dinner and take them hot-tubbing in an attempt to evaluate potential founders for his firm's portfolio. He also assesses founders based on whether they clean up after themselves after dinner. According to Bloomberg, Sacca “would see people who wouldn’t actually get up to put their dishes in the sink, and immediately be like, ‘No way. Like, there’s no way we’re getting in and doing business with them.’” Sacca also talked about the hot tub at his California home near Lake Tahoe, which he calls the Jam Tub. Sacca told Bloomberg's Emily Chang that Uber CEO Travis Kalanick used to spend "eight to ten hours" there at a time. "I've never seen a human with that kind of staying power in a hot tub," he said. Watch the full video below: SEE ALSO: Uber investor Chris Sacca thinks Carl Icahn made a 'big mistake' backing Lyft Join the conversation about this story » NOW WATCH: Facebook tried to copy Apple with its big Oculus unveiling and it failed miserably  | ||
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Mark Zuckerberg says he wants Facebook to build more tools to let people help each other | ||
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Facebook CEO Mark Zuckerberg wants the the social network to build more tools that allow its users to help each other, he said during Facebook's annual shareholders' meeting on Thursday. Facebook has already started doing this, Zuckberg says, but he's urging teams to think of more ways to make to enable it. After the Nepalese earthquake in April, for example, Facebook activated a feature called Safety Check that allowed people in the area to indicate that they were safe. Facebook technically built the tool back in October, but this natural disaster was its largest deployment to-date: Millions of people marked themselves as "safe" and more than 100 million people got notifications about their friends and family. Facebook also put a "Donate" button on the top of people's News Feed after the earthquake and users ended up contributing more than $15 million. "That's more than most governments around the world contributed," Zuckerberg said, "And just from Facebook users." Facebook also became part of the Amber Alerts system earlier this year, which means that when a child disappears in a users' area, they'll see a notification about it at the top of their News Feed. At least one child has been found thanks to the integration so far, Zuckerberg said. "There’s a lot more stuff like this that we can do," Zuckerberg said. "We’re in a unique place where we can do these things because of our reach and there’s a real hunger in our community for it. I’m really excited about enabling more of this and proud that we can be part of it." Zuckerberg's answer came after a shareholder asked him what the company wished it was working on that it wasn't. Facebook COO Sheryl Sandberg initially whisked the question away. "That’s a hard question to answer," she said. "The things we’re not working on but want to work on are things that we might work on in the future. But if we say that we wish we were working on them, then other people might start working on them." Zuckerberg's answer, which danced around the question without giving anything away, came after Sandberg promised that Facebook would continue to invest in new projects and unveil new investments when it was ready. SEE ALSO: Here's a hint about what Google might do in its quest to fix cities Join the conversation about this story » NOW WATCH: Kids settle the debate and tell us which is better: an Apple or Samsung phone  | ||
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Tiny tentacled robots can pick up ants and lasso tiny blood vessels during surgeries | ||
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Those other octopus-inspired robots are fine and all, but there are lots of things they can’t do. They’re all too thick to coil themselves tightly, and they manipulate tiny objects with about as much precision as a bulldozer. But a new robot, developed by engineers at Iowa State University, is only a centimeter wide, with tentacles so thin and delicate that it can pick up small and delicate objects. The study about the robot was published today in Scientific Reports.
This article originally appeared on Popular Science This article was written by Alexandra Ossola from Popular Science and was legally licensed through the NewsCred publisher network.
Join the conversation about this story » NOW WATCH: California could learn a few things about water conservation from this college dorm in Florida  | ||
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The robotic tentacle is actually a microtube made from a stretchy polymer called an elastomer. Because it’s so thin, the tentacle can curl up to just 200 microns in diameter. But it can also pick up and move things without crushing them, like an ant, as seen above. Or it can grasp fish eggs, which normally burst when pinched with tweezers:
This type of robot could eventually be used in microsurgery, especially in procedures that require doctors to manipulate blood vessels that can result in aneurisms if they are punctured.
Snoop Dogg steps into the Twitter CEO ring | ||
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Twitter's next CEO needs to be someone "who really uses and loves the product in every single way," said newly appointed interim Twitter CEO Jack Dorsey. If Dorsey is looking for a candidate list, he can just turn to his own product. By including his own #SnoopforCEO hashtag, Snoop Dogg shows potential for the position.
SEE ALSO: Jack Dorsey's starting salary as Twitter's interim CEO is $0 Join the conversation about this story » NOW WATCH: Kids settle the debate and tell us which is better: an Apple or Samsung phone  | ||
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One of the hottest new health benefits in Silicon Valley is based on shaky science | ||
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Egg freezing, no longer considered an experimental procedure, is getting more and more attention as a way for women to delay having kids. In 2014, Apple and Facebook became the first major employers to offer female employees coverage to freeze their eggs without a medical reason. Even for women who don't work in Silicon Valley, egg freezing is becoming more financially accessible and mainstream. The startup EggBanxx has been throwing egg freezing parties, events where women can learn about the procedure — and the competitive prices the company offers. Despite the growing popularity of egg freezing for women who want kids eventually but not right now, doctors don't actually recommend the procedure for this purpose. The doctors who wrote the American Society for Reproductive Medicine committee opinion on egg freezing only recommend it for women about to undergo chemotherapy or another necessary medical procedure that would damage their ovaries and make them permanently infertile. The doctors write that data about the "safety, efficacy, cost-effectiveness, and emotional risks" of egg freezing aren't sufficient to recommend the procedure be done simply to try to delay pregnancy. What it isEgg freezing is a medical procedure technically known as oocyte cryopreservation, and it's more invasive and expensive than casual observers might realize. To begin the process of harvesting her eggs, a woman has to take hormone injections. Those stimulate her ovaries to turn out more than the one fully mature egg they would normally produce. When her eggs are ready, the woman will be sedated while they are retrieved with a fine suction device, which usually takes about a half hour. After that, the eggs are frozen and stored until the woman is ready to use them to try and get pregnant through in vitro fertilization. They'll be thawed, fertilized with sperm in a lab, and then one or more fertilized embryos will be placed in the woman's uterus, where one will hopefully implant and grow into a baby. The whole process is costly. Writing for Nautilus, Abby Rabinowitz calculated one cycle of egg freezing, two years of storage (many women would need longer), and three attempts at IVF (from the New York University Fertility Center) would cost her between $39,410 and $46,560. In a way, egg freezing seems to make sense as a way for a woman to increase her chances of having a baby when she's older. A woman's fertility declines with age, mostly because older eggs are more likely to have abnormalities that will prevent them from developing into healthy babies if fertilized. Using eggs from a younger woman, whether they were donated or a woman froze and saved hers at an earlier age, seems like a straightforward way to get around that effect of aging. But it's not quite so simple. In fact, egg freezing is more like hedging your bets — which isn't the same thing as taking out an insurance policy, an act egg freezing is sometimes compared to.
What it isn'tFreezing eggs does not act as a guarantee a woman will be able to have a baby later, fertility preservation expert Dr. Kutluk Oktay stressed in an interview with Business Insider. It's a more common practice to freeze already fertilized embryos for future IVF cycles, which leaves fewer hurdles to a baby than egg freezing. "When you freeze eggs you’re really not freezing babies, you’re freezing the possible potential to carry [a baby]," Oktay said. More research is needed about how effective egg freezing is, but in four careful trials comparing the use of fresh and frozen eggs for IVF, between 4.5% and 12% of thawed eggs resulted in pregnancies. That sounds pretty low, but the overall pregnancy rates in these trials were similar whether fresh or frozen eggs were used. The women in these studies hadn't frozen their eggs to delay having kids, though — they had either not become pregnant from a previous cycle of IVF and used frozen eggs instead of embryos to try again, or they were receiving donated eggs. There's not yet data about what happens for women who freeze their eggs when they're younger to use later, which means there's a great deal of uncertainty about how reliably it will lead to pregnancy. The procedure also has the potential to backfire, Oktay said: If a woman puts off having children during her fertile years because she assumes freezing her eggs left the option open, she might be unable to conceive later if for whatever reason IVF with frozen eggs doesn't work when she's older. Egg freezing, then, is not the ideal solution for all women who want to put off having kids. "I think that at the current time, egg freezing is an important concept for a small group of women — only a small group of women," Dr. Norbert Gleicher, founder, medical director, and chief scientist of the Center for Human Reproduction fertility clinic in New York City, told Business Insider. Both Gleicher and Oktay told Business Insider they think elective egg freezing is being "oversold." "You cannot offer every treatment to everybody on demand. There has to be some clinical judgment there first and counseling," Oktay said. "I think the healthiest thing for people to do is find time to have children while the [eggs] are healthy," he added. Of course, the idea of outsmarting the biological clock — something men don't have to worry about while many women do — is appealing. But as much as human beings are pushing medical technology forward, we have not yet come up with a completely effective, guaranteed way for women to extend their fertile years. We may be on our way, but egg freezing in its current form is not a perfect or even particularly reliable fix — and it shouldn't be sold as such. UP NEXT: The success rates of 'test tube babies' are nowhere near what people think SEE ALSO: This groundbreaking procedure let a woman without working ovaries have a baby Join the conversation about this story » NOW WATCH: Scientists have figured out what behaviors turn women on  | ||
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One big change Jack Dorsey could make to get Twitter back on track | ||
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Generally speaking, incoming interim Twitter CEO Jack Dorsey and outgoing predecessor Dick Costolo seem to have seen eye-to-eye. Dorsey even took to Twitter earlier this year to defend Costolo's reign as CEO. But there's one point on which they seemed to differ: How they treat developers. Dick Costolo took a lot of heat for Twitter's 2012 decision to start putting limits on its API — the interface that programmers use to integrate their apps and software with web services. "It’s become a little bit of, you know, ‘I didn’t get my homework done because Twitter changed their API,'” a frustrated Costolo said in an on-stage appearance circa 2012. In 2013, Twitter shut down that API entirely. Where before, there was a growing ecosystem of popular, but unofficial, Twitter clients like Twhirl and Twitteriffic, now there was only Twitter.com and the officially-sanctioned mobile apps for iPhone and Android. Twitter has reached out to developers more recently with the launch of the Fabric platform, but the damage to the company's reputation as someone to build apps with is lasting. But recall that Dorsey was Twitter's first CEO. And in 2008, when the company was still brand new, and more concerned about not crashing all the time and less concerned about making money, Dorsey identified that API as a potential business driver for the company going forward. In 2008, InformationWeek reporter Mitch Wagner wrote, "I asked Dorsey if that meant that Twitter was considering charging commercial users for the service, or charging developers for access to the API. He said no, but Twitter considers those aspects of its service to be pointers toward features that people might be willing to pay for." Dorsey himself is an experienced software developer, and seems to understand the way that opening an API can build value on top of a platform. Square, the payments startup he co-founded, has a Square Connect API for people to build apps that work with a merchant's data. Re-opening the Twitter API may not be an instant savior to the company's bottom line. But it could attract a lot more developers who could put the platform to work in new, interesting ways — and maybe fix some of the platform's problems with trolling, harassment, and new-user friendliness. And if Dorsey doesn't do it himself during his interim stint, maybe he could leave a memo for the next guy or gal. SEE ALSO: Jack Dorsey will have two CEO jobs: Square and Twitter Join the conversation about this story » NOW WATCH: Every square foot of an Apple Store is designed to make you spend more money  | ||
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China snatch win as Germany, Canada held in Women's World Cup | ||
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Vancouver (AFP) - Wang Lisi's late winner got China's Women's World Cup campaign back on track as Germany were held 1-1 by Norway and Canada played a goalless draw against New Zealand. China's Group A tie in Edmonton's Commonwealth Stadium looked to be heading for frustration before Wang broke through to roll the ball past Sari Van Veenendaal in the Dutch goal one minute into extra time. It gave the 'Steel Roses' a vital three points after losing their opening match to Canada, who had to settle for a goalless draw against New Zealand. Canada remain top of Group A with four points from two games, ahead of China and the Netherlands, who have three. New Zealand are bottom of the group with one point. "I think they did an excellent job today. We could have scored more and been more efficient," said China coach Hao Wei. "In the beginning I said Group A was very even, all teams are similar in their strengths so I wish we could have scored more," added the Chinese coach. In Group B ties over in Ottawa, a second half Maren Mjelde equaliser grabbed a 1-1 draw for Norway against top ranked Germany in a clash of former champions. Anja Mittag had put 2003 and 2007 champions Germany ahead after just six minutes with her fourth goal following her hat-trick in their opening 10-0 whipping of Ivory Coast. But midfielder Mjelde equalised for 1995 winners Norway with a stunning free kick past former world player of the year Nadine Angerer in the Germany goal after 61 minutes.
- Thailand make history -
The Germans next play Thailand who came from a goal down to keep their hopes of advancing alive with a 3-2 win over fellow newcomers Ivory Coast. "We are very lucky, because even though we had less attacking chances, we got our first victory in our country's history," said Thailand coach Nuengrutai Srathongvian. "We are honoured to be playing the best team in the world Germany in our next match and will do our absolute best to win." Ivorian striker Ange Nguessan had given the African side the lead after four minutes but Thailand hit back with three unanswered goals. A double from Orathai Srimanee after 26 and 45+3 minutes, and a Thanatta Chawong effort on 75 saw the Asian side bounce back from a 4-0 loss to Norway in their opener. Josee Nahi got one back for the Ivory Coast two minutes from time, but it was too little for the African side with just one game remaining. "It's a sad night for us and for the people of Ivory Coast," said Clementine Toure of the lowest ranked side in the tournament at 67. Germany coach Silvia Neid admitted her side had nearly paid heavily for letting their guard down after dominating early against the 11th-ranked Scandinavians. "We just didn't play as well in the second half - and then Norway gained hope," said Neid. The result leaves Germany and Norway topping Group B with four points. Thailand are third with three points with Ivory Coast bottom with none. "The end result was fair, but we were lucky - (Germany) could have killed this game in the first half," said Norway coach Even Pellerud. In the final round of group games on Monday, Germany play Thailand in Winnipeg and Norway take on the Ivory Coast in Moncton. Champions Japan and the United States will play their second round matches on Friday. Japan come up against Cameroon in Group C in Vancouver, with group rivals Switzerland up against Ecuador. The United States play Sweden in Group D in Winnipeg, with Australia up against African champions Nigeria.
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10 things you need to know before European markets open | ||
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Good morning! Here's what you need to know in markets today. European industrial production is coming. At 10 a.m. London time (5 a.m. New York), the eurozone's industrial production data for April is coming. Analysts are expecting a 0.3% boost from March, which would leave production up 1.1% year-on-year. The bond sell-off could stall the Fed's rate hike. The sharp bond market sell-off is starting to pinch American consumers and companies, causing a mild economic tightening that, if sustained, could raise alarms at the Federal Reserve and even delay a plan to hike interest rates in coming months. Congress will vote on President Barack Obama's trade authority. President Barack Obama's goal of strengthening US economic ties with Asia will hang in the balance in Congress on Friday when divided lawmakers vote on legislation central to his hallmark Pacific Rim trade deal. Japanese industrial production was revised up. Production was revised to +0.1% growth year-on-year in April, the first positive figure in 2015 so far. Taiwan's Asustek hasn't ruled out buying HTC. Taiwan's Asustek said on Friday it has not ruled out the possibility of acquiring struggling smartphone maker HTC. Chairman Johnny Shih of Asustek, one of the world's biggest makers of laptop personal computers and smartphones, made the comment at its annual general meeting, Chief Financial Officer David Chang told Reuters. Blackberry may begin running Android. BlackBerry is considering equipping an upcoming smartphone with Google Inc.'s Android software for the first time, an acknowledgement that its revamped line of devices has failed to win mass appeal, according to four sources familiar with the matter. Uber's growth in China has been explosive. Four out of the top 10 cities for Uber are now in China, according to an email sent by Uber CEO Travis Kalanick to investors and obtained by the Financial Times. Guangzhou, Hangzhou, and Chengdu are now the three largest cities on a trips basis, overtaking New York, the email stated. Twitter CEO Dick Costolo is out. Embattled CEO Dick Costolo will step down on July 1. Jack Dorsey, one of the original founders of the company, will be the interim CEO. The stock surged up about 8% after hours on the news. Asian markets are up or flat. Hong Kong's Hang Seng is up 0.51% and China's Shanghai Composite Index is up 0.64%. Japan's Nikkei is pretty much entirely flat, down 0.01%. The CIO of a major asset management firm says the bond bubble is a myth. “I’ve been looking for Sasquatch in the bond bubble, or the credit bubble,” said Scott Minerd, chief investment officer (CIO) at Guggenheim Partners, according to Bloomberg. Join the conversation about this story » NOW WATCH: Here's how Cristiano Ronaldo spends his money  | ||
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Ton-up Smith leads Australia to 258-4 | ||
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Kingston (Jamaica) (AFP) - Steve Smith’s ninth Test century in 28 matches anchored Australia’s 258 for four at stumps on the opening day of the second and final Test against the West Indies at Sabina Park. Needing victory to square the series after a comprehensive nine-wicket loss inside three days in the first Test in Dominica, the Caribbean side did not help their cause after early strikes by Jerome Taylor with the new ball. They wasted at least two clear-cut opportunities to limit the tourists’ progress and give their depleted side a better chance of upsetting Test cricket’s second-ranked team. Smith, who will resume on the second morning on 135 after 357 minutes at the crease during which he struck 16 fours and two sixes off 278 deliveries, was missed by Darren Bravo at first slip off the part-time bowling of Kraigg Brathwaite an hour into the day’s final session. Australia’s vice-captain was also reprieved via the television technology at the same score, 109, as replays resulted in the reversal of an lbw verdict awarded by umpire Richard Kettleborough to a vehement appeal by Taylor, the outstanding West Indies fast bowler. "It was quite difficult initially but it got easier as the day went on,” said Smith. “I’m working really hard in the nets. That and patience out in the middle seem to be working well for me.” Taylor, who finished with three for 18 off 15 overs, was a model of accuracy and efficiency from the start of the day, removing David Warner for a duck in the first over, caught by Shai Hope at third slip, and fellow opener Shaun Marsh leg-before for 11 shortly after to be 16 for two. It should have been 22 for three when Michael Clarke, on three, popped up a catch back to Kemar Roach off his own bowling. But the captain was granted a reprieve when the request by Kettleborough for a television replay confirmed that the fast bowler, not for the first time in his international career, had no-balled. Australia’s captain made the West Indies pay, contributing a fluent 47 in a 118-run third-wicket partnership that was ended when Clarke edged an attempted off-drive at fast-medium bowler Jason Holder to wicketkeeper Denesh Ramdin. “We started well but it got tougher as the day went on,” said Holder about the day in the field for the home side. “We need to capitalise with some early wickets in the first hour tomorrow to get back in contention.” Clarke was the only wicket to fall in the afternoon session as Adam Voges, fresh from a debut unbeaten 130 at Windsor Park a week earlier, played assuredly for 37 in helping Smith put on 76. With Roach and frontline spinner Veerasammy Permaul, both playing in place of unfit colleagues Shannon Gabriel and Devendra Bishoo, unable to stem the flow of runs, it was left to Taylor to engineer another breakthrough, Voges departing in the manner of his captain. Shane Watson (20 not out) faced few challenges in putting on 48 for the fifth wicket with Smith by the close as the West Indies, in what seemed an unusual defensive posture, declined to take the second new ball when it became due during the final hour. The home side suffered setbacks before the start of play with their most experienced batsman, Marlon Samuels, ruled out because of illness while leg-spinner Devendra Bishoo’s badly-bruised finger on his bowling hand did not heal sufficiently for him to be considered. Join the conversation about this story »  | ||
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McCartney wows crowd at Stade de France gig | ||
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Saint-Denis (France) (AFP) - A week before his 73rd birthday, Paul McCartney wowed concert-goers at the Stade de France on Thursday, belting out a series of songs that were peppered with Beatles hits. Clad in a jacket and white shirt, McCartney put on an energetic performance that included "Hey Jude", "Yesterday" and "Helter Skelter", as well as a series of songs from Wings, his band between 1971 and 1981. The ex-Beatle, who last performed at the Stade de France in 2004, was supported on stage by a group of four musicians in the latest stage of his "Out There" tour, which began in Brazil in May 2013 and concludes next month in Chicago. As soon as the concert ended and the crowds began departing, stadium workers rushed in to clean up and prepare for a Top 14 rugby match at the Stade de France on Saturday. Join the conversation about this story »  | ||
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The 10 most important things in the world right now | ||
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1. Twitter CEO Dick Costolo will step down on July 1 and Jack Dorsey, one of the company's original founders, will step in as interim chief executive. 2. The International Monetary Fund said Greece is making "no progress" on a deal to unlock bailout money, while a meeting Thursday between Greek Prime Minister Alex Tsipras and European Commission Chief Jean-Claude Juncker was apparently a "last attempt" to get a working agreement. 3. Rupert Murdoch is stepping down as the CEO of 21st Century Fox, but will stay on as executive chairman of the company as his son, James, takes the reins. 4. China's former security chief Zhou Yongkag was sentenced to life in prison after being found guilty on corruption charges, including bribery and leaking state secrets. 5. A French prosecutor said Thursday that the Germanwings copilot who crashed into the French Alps had seen seven doctors before the event, but those who thought he was unfit to fly did not report it because of privacy laws. 6. The number of new cases of Middle East Respiratory Syndrome (MERS) in South Korea is falling as thousands are placed under quarantine, health officials said Friday. 7. FIFA communications director Walter De Gregorio was reportedly fired after making a joke about the corruption scandal surrounding the football governing body on Swiss TV earlier this week. 8. A French court will rule Friday on whether ex-International Monetary Fund chief Dominique Strauss-Kahn is guilty of pimping charges. 9. British actor Christopher Lee, best known for playing Dracula, died Thursday at age 93. 10. Three astronauts from the International Space Station returned to earth on Thursday after their homecoming was delayed four weeks to allow Russia to investigate a failed cargo ship delivery. And finally ... Join the conversation about this story » NOW WATCH: This Animated Map Shows How European Languages Evolved  | ||
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Hello! Here's what you need to know for Friday. Pimp or libertine? Strauss-Kahn to hear verdict in French trial | ||
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Lille (France) (AFP) - A French court will rule Friday on whether ex-IMF chief Dominique Strauss-Kahn is guilty of pimping charges after a trial which exposed lurid details of champagne-fuelled orgies and prostitution. However the 66-year-old, who has been dogged by sexual scandals, looked likely to again avoid conviction as even the prosecutor in the case has called for him to be acquitted, saying there was insufficient proof he had been at the heart of a prostitution ring. The silver-haired economist saw his high-flying career at the head of the International Monetary Fund and presidential prospects implode when a New York Hotel maid accused him of sexual assault in 2011. Those criminal charges were dropped and the case settled in a civil suit, but the scandal brought to light several complaints about Strauss-Kahn's behaviour towards women. Shortly afterwards he was accused of procuring prostitutes to attend orgies in Brussels, Paris and Washington at which witnesses for the prosecution said he was the "king of the party". At his trial in February, the former head of the International Monetary Fund calmly fended off the accusations, saying that while he was a libertine who enjoyed group sex, he was unaware any of the woman attending the soirees had been paid to be there. However he lost his temper as lawyers pushed the former prostitutes to recount brutal scenes in which he sodomised them, allegedly without their permission, saying he was not on trial for "deviant practices". In closing arguments his lawyers said the case against him had "collapsed" into nothing more than an indictment of Strauss-Kahn's morals, and the prosecution appeared to agree. Main prosecutor Frederic Fevre called for Strauss-Kahn to be acquitted saying that "neither the judicial enquiry nor the hearing have established that Mr Strauss-Kahn is guilty". In another boost for Strauss-Kahn, two ex-prostitutes who attended the orgies dropped a civil lawsuit against him, with lawyers saying they lacked enough proof to win the case. - 'Ego, ambition and desires' - The trial was the latest humiliation for the man once seen as a frontrunner for France's 2012 presidential election. He was charged with pimping shortly after the New York scandal when his name cropped up in a probe into a prostitution ring in northern France, which provided sex workers for orgies he attended. Strauss-Kahn found himself in the dock alongside a colourful cast of 13 characters including a senior police officer and brothel owner Dominique Alderweireld, known as "Dodo the Pimp". Dodo admits providing prostitutes to friends of Strauss-Kahn, who are among the accused and testified to keeping the women's true nature a secret as they sought to impress the "future president of the republic". While prostitution in itself is legal in France, encouraging and organising its practice is considered to be procuring and is punishable by up to 10 years in prison. Fevre asked for a series of suspended sentences and fines ranging from 2,500 ($2,800) to 20,000 euros for the 13 other accused. "This was not a mafia network that was dismantled," said Fevre, but a group of friends trying to "satisfy egos, ambitions and quite simply, physical desires." - 'Busy saving the world' - Former prostitutes -- nicknamed Jade and Mounia -- gave dramatic testimony during the trial of how they felt powerless to say no to Strauss-Kahn sodomising them during sex parties. They said Strauss-Kahn would have been "naive" to not realise they were paid to attend. Strauss-Kahn lost his patience as lawyers pressed the women on his sexual preferences, seeking to prove a level of sexual degradation that he would only expect from a prostitute. "I must have a sexuality which, compared to average men, is more rough. Women have the right not to like that whether they are prostitutes or not," he said. The court tried to prove that Strauss-Kahn had played a role in organising for the prostitutes to attend the sex parties, in text messages in which he referred to women as "equipment". But Strauss-Kahn brushed these comments off as "barracks talk". He said the use of prostitutes "horrified" him and that paying for sex would be too great a risk for a man at the head of the IMF, which was busy "saving the world" from the financial crisis that began in 2008. Join the conversation about this story »  | ||
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Number of new MERS cases in S.Korea falling: government | ||
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Seoul (AFP) - South Korea's health ministry Friday urged people to "conquer their fear" of Middle East Respiratory Syndrome (MERS) and go about their day-to-day lives as normal, saying new cases of the virus and the number of people quarantined were falling. The number of new cases fell to four, down from 14 the previous day and 13 on Wednesday, bringing to 126 the total number of people in South Korea diagnosed with the potentially deadly virus. As of early Friday, the number of fatalities in South Korea remained at 10, following the largest outbreak of the virus outside Saudi Arabia. Currently, 3,680 people are under quarantine, down from 3,805 the previous day. A total of 1,249 people have been released from quarantine, including 294 on Friday. "The number of newly confirmed cases has fallen sharply and there are little risks of the virus spreading through airborne transmissions or to communities outside hospital settings," the ministry said in a statement. "Therefore, we ask the people to conquer their fear and engage in day-to-day business", it said. On Thursday, the outbreak forced the central Bank of Korea to cut its key interest rate by 0.25 percentage points as the outbreak dampened already weak consumer sentiment. Businesses including shopping malls, restaurants and cinemas have reported a sharp drop in sales as people shun public venues with large crowds. More than 54,000 foreign travellers have cancelled planned trips to South Korea so far this month, according to the Korea Tourism Board. Amid criticism that the government bungled the initial response, a Seoul hospital was closed temporarily over fears the facility might be another source of mass infection, the first such closure in the capital. Mediheal Hospital will remain shut until June 23, a Seoul City spokesman told AFP. A total of 52 healthcare facilities including 18 in Seoul and 16 in the surrounding Gyeonggi Province have been exposed to the virus. Pyeongtaek St. Mary's hospital in Pyeongtaek City, where the first wave of 37 patients were diagnosed, will also remain closed until Friday, based on the incubation period for the disease. But Samsung Medical Centre, where 58 out of the 126 confirmed infected people contracted the disease -- the biggest single group -- remains open after being sanitised. More than 3,800 people who came into close contact with those infected are under quarantine, either at their homes or at healthcare facilities. The first infected patient was diagnosed on May 20 after a trip to Saudi Arabia. The 68-year-old man visited four medical facilities, infecting other patients and medics, before he was finally diagnosed.
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Vidal stars as Chile off mark at Copa | ||
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Santiago (AFP) - Arturo Vidal buried his Champions League heartache to set up a 2-0 opening victory for Chile over Ecuador as the Copa America kicked off. Juventus star Vidal bounced back from the disappointment of defeat to Barcelona in last week's Champions League final to score a 67th-minute penalty in a man-of-the-match performance. Napoli's Eduardo Vargas made it 2-0 late on to give the Chileans a winning start in Group A as they chase a first Copa America crown in 99 years of trying. "It was very difficult, they pushed us to the end," Vidal said after. "We are very happy but we know we have to improve on this. The result is what counts though," he added. Vidal admitted he was still weary after turning out for Chile just days after last weekend's Champions League final in Berlin. "My back hurts a bit and I will need a massage after the match," he said. The win puts Chile firmly on course to qualify for the quarter-finals. Group A also contains Mexico and Bolivia, who meet on Friday in the second game of the tournament. Chile had been unable to find a breakthrough until Vidal burst forward midway through the second half to be tugged over by Ecuador's Miller Bolanos. Argentine referee Nestor Pitana pointed to the spot immediately and Vidal stepped up to blast the spot kick high and wide past Ecuador´s giant goalkeeper Alexander Dominguez. The hosts made sure of victory six minutes from time when Arsenal star Alexis Sanchez released Vargas who finished coolly for 2-0. The only blackspot for Chile was a red a card for Matias Fernandez in the closing minutes for two cautions. - Messi, Neymar eye glory - Chile's dreams of lifting the title on home soil will face stiff opposition from favourites Argentina and five-time world champions Brazil. Argentina, led by Lionel Messi, and Brazil, now skippered by Neymar, have results on their side heading into the tournament. Brazil completed their preparations on Wednesday in Porto Alegre, beating Honduras 1-0 to rack up their 10th consecutive friendly victory since last year's World Cup, when they were humiliated 7-1 by Germany in the semi-finals. The Barcelona team-mates are carrying a mountain of expectation on their shoulders. Messi is determined to finally taste glory at a major international tournament while Neymar is aiming to erase the memory of Brazil's World Cup debacle. "I feel I'm in better shape arriving at this tournament than I was at the World Cup last year," Messi said. Messi and Argentina fell agonisingly short at the World Cup, suffering a 1-0 extra-time defeat to Germany in the final to extend a title drought which stretches back to the 1993 Copa America. Argentina open their campaign against Paraguay on Saturday, and should progress from Group B which also includes Uruguay and Jamaica, one of two teams from the CONCACAF region invited to bolster the tournament. Brazil will kick off Group C against Peru on Sunday, with Colombia and Venezuela completing the group. Brazil defender David Luiz said his team-mates had emerged stronger from their World Cup nightmare against the Germans. "The players who went through the World Cup are more mature," the Paris Saint-Germain star said. "We are working hard every day to grow, to evolve." However Luiz said Brazil could expect a fierce challenge from their rivals as they attempt to reclaim a crown last won in 2007. "It will be one of the most difficult Copa Americas in history," Luiz said, citing the threat from Chile, Argentina and holders Uruguay. Join the conversation about this story »  | ||
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An NAACP leader in Washington state was just accused of pretending to be black | ||
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A woman recently appointed as head of a local NAACP chapter in Spokane, Washington has apparently spent years "disguising" herself as black, according to the woman's parents. Her name is Rachel Dolezal. The Washington Times reports Dolezal, has identified as white, black and Native American. Dolezal's mother, told some media outlets in the Spokane area that her family's ancestry consists of Czech, Swedish and German with traces of Native American heritage. Toward the end of the video below, a reporter asks Rachel Dolezal if she's African-American. She replied, "I don't understand the question," before abruptly walking away from the camera. In another twist, Dolezal has a history of reporting hate crimes in Spokane and at the Human Rights Education Institute in Coeur d’Alene, Idaho. SEE ALSO: Woman suspected of helping plan getaway for escaped murderers 'thought it was love' Join the conversation about this story » NOW WATCH: Two models in Russia just posed with a 1,400-pound bear  | ||
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LeBron James received a nasty cut on his head when he crashed into a TV camera | ||
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LeBron James was bloodied during Game 4 of the NBA Finals when he fell out of bounds and collided with a television camera. The incident came late in the second quarter when James drove to the basket and received a hard foul from Andrew Bogut.
James was bleeding from the head and a close up showed the how extensive the damage was.
Amazingly, they were able to stop the bleeding very quickly and he stayed in the game to take the free throws, making one. After halftime, ABC reported that LeBron did not receive stitches, but did have wound glued. Join the conversation about this story » NOW WATCH: How LeBron James spends his money  | ||
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Dinner in white: Thousands attend Paris 'chic picnic' | ||
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Paris (AFP) - More than 13,000 people turned out in Paris for the 27th edition of 'Diner en blanc' ('Dinner in white') -- a pop-up picnic where attendees dress to the nines entirely in white. The diners were armed with white tables and chairs, and packed out public areas of the Tuileries Garden and the Palais Royal, locations that were made public at the last minute in an event that has become an international phenomenon. The tradition dates back to an event 26 years ago in Paris at which organisers invited guests to all wear white so they could be easily spotted in a park. The event's website describes itself as "thousands of people, dressed all in white, and conducting themselves with the greatest decorum, elegance, and etiquette, all meet for a mass 'chic picnic' in a public space". Attendees undertake to return the area they eat in to its original state, even collecting their own trash and carting it off.
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Netflix released the entire new season of 'Orange is the New Black' early | ||
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If you've been counting down the days for the return of "Orange is the New Black," good news — Netflix decided to release the new season hours ahead of schedule. That's right. You can start bingewatching all 13 episodes of season three right now. Netflix released the series shortly after 9 p.m. EST. The new season was set to launch June 12 on the streaming site. Typically, fans have to wait until 12 a.m. PST for a new Netflix series to arrive. Here are the episode titles:
SEE ALSO: Watch the trailer for the new season Join the conversation about this story »  | ||
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Why Facebook's 'empathy room' and globe-trotting engineers are so important to its business (FB) | ||
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As a Facebook employee, Nikila Srinivasan gets the company's standard list of perks like vending machines with free computer accessories, unlimited dry-cleaning, and on-site work-out facilities. But, as a product manager of its emerging markets monetization team, she also enjoys another nice work benefit: A whole bunch of traveling. Srivinivasan is one of the people responsible for making sure that Facebook's ads work, look great, and are tailored to different audiences all around the world, particularly in new markets like India, Turkey, and Kenya. Facebook launched a program called Creative Accelerator earlier this year to help brands and their agencies make their ads work on every mobile device and connection type. That's where the traveling comes in. Srivinivasan told Business Insider that by visiting different countries, she and her team pick up on nuances in how people use Facebook and their phones — including what average bandwidth and connections are like — and can then turn those insights into actionable advice for how advertisers should build their campaigns. For example, in India, Facebook has an ad product called "missed call" that's based on a way that people there typically cut down on their phone bills. If someone in India wants to talk to someone, but doesn't want to waste their phone plan, they will call that person's number, hang up after it rings, and wait to get a call back. So, building off that, Facebook has created a product where people can avoid using their data plan by clicking on an ad on Facebook mobile and then having the advertiser pay the data costs of sending them some sort of content, like music or a celebrity message. Facebook has also found that people in the Middle East consume more video per person than any other region in the world. But, many people there also have "typical" smartphones (Srivinivasan says that Facebook doesn't call them "low-end"), so the company helps advertisers make sure that their videos will be easy to understand and to view no matter the screen size or resolution. The company's "empathy room" comes in handy there, too. Facebook has a dedicated room in its HQ filled with low-end Android smartphones and old flip phones. The room simulates the sluggish wireless connections that many experience abroad, so employees like Srivinivasan and her team can test out what viewing Facebook and ads would really be like for someone in Kenya or India. Facebook officially makes more than half of its advertising revenue overseas, so the empathy room and the work that Srivinivasan and the Creative Accelerator team do is more important than ever. That's why she also told us that Creative Accelerator is opening up its platform from seven brand partners to many more around the world. "When we travel to all these different countries, it's amazing to see how many common patterns emerge and how many nuances do too," Srivinivasan says. "But irrespective of the type of device and the type of connection, people's excitement to be able to create and consume content that's rich — like video or photos — doesn't diminish. Just because I'm a feature phone user with a bad connection, that doesn't mean that I should have to see anything that's any less engaging." SEE ALSO: Mark Zuckerberg says he wants Facebook to build more tools to let people help each other Join the conversation about this story » NOW WATCH: Here's what happens when you drop an Apple Watch face down on cement  | ||
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Here's what one former Twitter insider thinks could happen with the CEO search (TWTR) | ||
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The hunt is on for Twitter’s next permanent CEO, after Thursday’s bombshell that Dick Costolo is stepping down. Twitter has said it will consider both internal and external candidates, while co-founder Jack Dorsey temporarily takes the reins as interim CEO. Twitter has said there is no timetable for choosing its next permanent CEO and it appears as if the company has not even selected a headhunting firm yet. But the tech world is already abuzz about how things might play out. One former Twitter insider shared some interesting insights about some possible scenarios. It’s important to note that this is simply the source’s informed speculation, but it's worth considering. An acqui-hire CEO:Twitter, according to Recode, has recently had acquisition talks to acquire Flipboard, a mobile newsreading app that is critically acclaimed for its slick design and product features but which has struggled to become a hugely popular app.
Twitter would fill a product hole by getting the Flipboard app, it gets a team of valued engineers (Flipboard currently has between 100 and 120 employees, not all engineers, according to the source) and it would get McCue, a veteran tech executive with proven product chops and operational experience within a large organization. (McCue previously was a general manager at Microsoft after it bought TellMe, his voice recognition technology company). Once Flipboard was acquired by Twitter, McCue — who is a former Twitter board member — would become a Twitter employee. From there, the search committee would put McCue on the shortlist of CEO candidates and ultimately give him the job. Why not just hire McCue outright as the CEO? Our source believes that McCue wouldn’t do it unless it included a face-saving option of his company being acquired. So effectively, it would be a very expensive acqui-hire — Flipboard was reportedly valued at $800 million during its last fundraising in 2013. Of course, Wall Street might not be very pleased with a CEO hire that costs hundreds of millions of dollars and which saddles the company with additional costs in the form of an extra 100 employees, even if they are well-regarded engineers. The Bain conundrumMeanwhile, there’s another potential issue as Twitter searches for its next CEO. Many people inside and outside the company have fingered Twitter head of revenue Adam Bain as the natural internal candidate. Bain is responsible for building Twitter’s free service into a money-making business, he has demonstrated smart product vision and he is well-liked within the company. The only knock against him is that he’s from the business side of the company, and many people feel that Twitter needs a product person at the helm.
“It’s a Ross Levinsohn no-win situation,” said our source, likening it to the well-regarded Yahoo sales executive who left the company after losing out to Marissa Mayer for the CEO job in 2012. Mayer has made improvements rebuilding Yahoo’s products since becoming CEO, but the company’s sales have been stuck in a rut for years. SEE ALSO: We talked to Jack Dorsey and Dick Costolo. Here's what they had to say... Join the conversation about this story » NOW WATCH: The 3 people Yahoo CEO Marissa Mayer leans on for advice  | ||
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The best sharks on earth, ranked by unusualness | ||
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There are more than 400 known species of sharks and they have been on earth for 420 million years. That's about 415 million years longer than humans have been around! Humans are afraid of sharks because they look scary and sometimes attack people. But sharks should be more afraid of us — a full quarter of all shark species have been hunted to extinction by humans. So, to help you become more familiar with these beautiful but scary beasts, we've ranked the best of the sharks based on unusualness, leaving out all the boring ones. 17. The Goblin Shark: Not only is it the ugliest shark, it's also the pinkest. At 3 metres (10 feet) long, the goblin looks terrifying. It lives near the shore, too. But don't worry, it's a slow swimmer and doesn't eat humans. 16. The Sawshark: It's got a saw for a nose! These 1.7 m (5.6 ft) sharks swim in schools and use their scary snouts to dig for prey in the sand. 15. The Frilled Shark: The frilled shark lives deep near the bottom of the ocean, avoiding the attention of the media. It gets its name from the six sets of frilly gills that sit like a collar behind its head. It has 300 teeth and grows up to 1.8m (6ft.) See the rest of the story at Business Insider  | ||
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Step inside the giant new Nobu restaurant in Qatar | ||
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Nobu's ever-expanding culinary empire has a new crown jewel. Earlier this spring, Nobu Hospitality opened its largest Nobu ever at The Four Seasons Doha, located on the coast of Qatar's capital city. It's shape reminiscent of a seashell, the 26,000-square-foot restaurant sits at the tip of the hotel's private marina. Food and travel writer Kathy YL Chan recently spent an afternoon at the massive, "new-style" Japanese eatery.
Guests of The Four Seasons can board a complimentary shuttle from the hotel to the restaurant. The building's circular design affords Arabian Gulf views from any table. Nobu Doha has two bars, so you'll never have to elbow your way to the counter or wait for a seat. Chef Andrew Bozoki presides over founding chef Matsuhisa Nobu's Japanese fusion menu. The cuisine jumps from tapas to sushi to brick-oven-roasted proteins, with plenty of foie gras, truffles, and incredible sauces peppered throughout. See the rest of the story at Business Insider  | ||
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Stanford's president, one of the most influential people in Silicon Valley, is stepping down | ||
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Stanford's president John Hennessy is stepping down in summer 2016, the University just announced. Normally, a university president stepping down isn't a big deal in the world of business. But Hennessy is one of the most influential people in Silicon Valley, a quiet power broker with lots of connections. He invented an early microchip architecture. He's on the board of directors at tech giants Google and Cisco. When President Obama came to town to raise money in 2012, Hennessy was right there at the exclusive private tech industry dinner alongside Steve Jobs, Larry Ellison, and Mark Zuckerberg. Stanford is right in the physical heart of the valley, but it's also at the heart of the tech industry. The best students in the field are being offered as much as $500,000 to take jobs at big name tech companies. Some of the tech industry's biggest and most successful companies, like Google and Yahoo, were started by students while they were still at Stanford. It's famous for its classes on entrepreneurship taught by successful investors like Peter Thiel. A lot of that is to Hennessy's credit. As Stanford put it in the announcement of his stepping down, "Hennessy, a pioneering computer scientist who founded technology companies, advocated as president for constructive relationships between universities and industry in order to more rapidly bring academic discoveries to the public." Hennessy has been the president there since 2000, and was previously the dean of the school of engineering, and chair of the computer science department. He'll go back into teaching and research. The school will search for new president during the next academic year. Join the conversation about this story » NOW WATCH: Mark Cuban has a brilliant strategy to get the best college degree for less money  | ||
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A university professor in London quits after railing against women in the sciences | ||
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Sir Tim Hunt, a Nobel laureate and honorary professor at University College London has quit after he made some controversial statements citing the "trouble with girls" in the science profession. BBC News reports the 72-year-old academic went to a conference in South Korea, where he reportedly made this declaration to the audience about women who are scientists: "Three things happen when they are in the lab: you fall in love with them, they fall in love with you, and when you criticise them they cry." On Wednesday, Hunt responded to the uproar that followed on BBC Radio 4, acknowledging his comments were "a very stupid thing to do in the presence of all those journalists." He then defended his problem with girls, but reframed the original criticism that they fall in love with coworkers and said he, too, had done the same — finding that "these emotional entanglements made life very difficult." Naturally, the internet was less than sympathetic to Hunt's mea culpa and thus, the #distractinglysexy hashtag was born: "Sadly, dealing with sexism and other forms of discrimination are a daily reality for many people, and I imagine it's hard to find Sir Tim's comments funny if you've been held back by systemic bias for years - whether those remarks were intended as a joke or not," Join the conversation about this story » NOW WATCH: 6 scientifically proven features men find attractive in women  | ||
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These 9 startups you've never heard of could be worth $1 billion very soon | ||
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With more than 100 startups valued at $1 billion or more, the term "unicorn" — given to startups worth more than $1 billion — has lost some of its magical aura. But a $1 billion valuation is still a huge milestone for any startup. Pitchbook, a private equity and VC data research firm analyzed various patterns and other data to identify the next 9 startups expected to reach the $1 billion threshold. They may not all be household names, but they could become the next unicorns. 1) Weebly - A web-hosting service with over 25 million users - Latest valuation: $490 million - Latest financing: $35 million (Series C; April 2014) - Lead investors: Sequoia Capital, Tencent Holdings - Year founded: 2007 2) Remind - An app that helps teachers keep in touch with students and parents - Latest valuation: $460.8 million - Latest financing: $40 million (Series C; September 2014) - Lead investors: First Round Capital, Kleiner Perkins - Year founded: 2009 3) Moovit - An app that gives real-time public transit information - Latest valuation: $450 million - Latest financing: $50 million (Series C; December 2014) - Lead investors: Sequoia Capital - Year founded: 2011 See the rest of the story at Business Insider  | ||
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Gauging Apple Watch’s huge opportunity in the luxury-wristwatch market | ||
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Apple's trusted, high-end brand will give the smartwatch category immediate clout and help drive much more interest among consumers, particularly those attracted to luxury goods. And the pricing, materials, and design on certain models will make the Apple Watch the first smartwatch to compete in the luxury-wristwatch category. In this report on the smartwatch market and the luxury wristwatch market, BI Intelligence takes a closer look at the opportunity for Apple's wearable device, how it might impact the market for luxury watches, and forecasts shipments for both Apple Watch and the broader luxury watch market over the next five years. We also examine the pricing and design strategy behind Apple Watch, the new retail distribution opportunities with this device, and the wider opportunity among tech-savvy consumers. Here are some key points from the report:
In full, the report:
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