The eBay and Amazon founders’ media investments are tremendous news for America’s vulnerable, who are typically ignored by traditional media. But the new ventures must take risks.
Perhaps the biggest news story in American journalism so far this year is the huge infusion of cash it has received, more than half a billion dollars, from American tech leaders. Founders of eBay, Amazon, and Facebook are among a growing group of tech entrepreneurs who want to build a bright new future for American media, and they are putting their minds—and their checkbooks—to the challenge. Pierre Omidyar’s $250 million investment in a new digital media company came on the heels of Jeff Bezos’s purchase of The Washington Post for a similar amount.
An excerpt from Randi Zuckerberg’s new book, ‘Dot Complicated,’ describes how she went from Mark Zuckerberg’s ‘ridiculous sister’ to the brains behind Facebook’s marketing strategy.
In the early days of Facebook, Mark Zuckerberg’s older sister moved from New York City to Menlo Park help grow the start-up. She spent years finding her role in the company amid a community of coders and the long shadow of her sibling. In this chapter, excerpted from her upcoming book Dot Complicated (HarperOne, Nov. 5), she describes trading a capella antics for team-building leadership.And so I came to California and to Facebook.I officially joined on September 1, 2005.
From the disappointment in the Obama technology failures to investor Dan Loeb’s secrets, The Daily Beast brings you best in business journalism from the past week.
How the iPod President Crashed: Obama’s Broken Technology Promise Ezra Klein – Bloomberg BusinessweekWith overwhelming support of millenials and technologically archaic opponents in 2008 and 2012, President Barack Obama and his team have long been considered tech-savvy Democrats. That tech know-how was supposed to extend from campaigns into modernizing the federal government and increasing its effectiveness. However, as the recent Obamacare rollout debacle showed, those predictions may have been overly sanguine.
The retail giant is as dependent on SNAP benefits as the poorest Americans. Why new cuts will be a double whammy for Bentonville—and anyone with a mutual fund.
Walmart is about to teach everybody a lesson in how austerity can affect the consumer economy—and quick.Food-stamp benefits are being cut starting today by about $5 billion this year, or about 5 percent. The number of people enrolled in the Supplemental Nutrition Assistance Program has exploded in the last several years, in part because the recession made a lot of Americans poorer, and hence eligible for the food stamps, and in part because the Obama administration expanded eligibility for the program in 2010.
Global techies flocked to Dublin to present their crazy digital inventions. Meet the newest ways to find a parking spot, make your kids do their chores, and upload beehive data.
On Wednesday and Thursday this week, the global tech world was in Dublin for the hottest tech trade fair of the moment, the Web Summit. Now in its fourth year, the Summit was closed out by a “fireside chat” between Paypal founder Elon Musk and Irish premier Enda Kenny, with a record total of 10,000 attendees from around the globe.Wednesday night in Dublin was kinda messy, in a free bar-meets-nerd way. Think Mardi Gras for geeks with flashing neon sunglasses and nite-glow cocktails.
The deficit shrunk dramatically in September—and that’s a piece of good news in otherwise bleak times.
It’s still the Golden Age of Deficit Reduction. Thanks to the government shutdown, the final tally for the government’s operations in September—the last month of the 2013 fiscal year—was delayed for three weeks. But on Wednesday, the Treasury Department finally its Monthly Statement for September (PDF). It confirmed the continuation of a trend. The national debt — the obligations we’ve accumulated over the past 200 years—is continuing to rise, and stands at about $17 trillion.
Forbes releases 2013 list.
Ouch. Russian President Vladimir Putin has been named the world’s most powerful person, knocking President Obama down to number two on the annual list. Forbes cited Putin’s expanding control over Russia as well as his significant influence over international relations. Also of note, Pope Francis continues to make waves, as his widespread popularity lands him at the number four spot. Three other Americans landed in the top ten, including Bill Gates (No. 6), Federal Reserve Chairman Ben Bernanke (No. 7), and Wal-Mart CEO Michael Duke (No. 10).
People talk about the decline of U.S. influence. But go to Europe, and you’ll notice something quick: No other country has the chutzpah we do when it comes to starting new companies.
Vienna, the seat of the once-mighty Habsburg Empire, is a good place to contemplate the rise and fall of global powers. And just now, the talk of American decline is growing louder—Washington is dysfunctional, the wealth divide grows every day, our infrastructure is falling apart, and we can’t manage to provide basic health insurance to all our citizens. But, as was pounded home to me as I spent a day this week in the sprawling Hofburg Palace in the heart of Vienna, the U.
Fusion, a new cable network aimed at multicultural millennials, launched Monday night with passable news coverage, lame satire—and a softball treatment of Democrats.
Given that the millennial generation will soon enough be toiling away to pay for my Medicare and Social Security benefits, the least I could do is spend four hours watching a newly launched cable network created especially for them.Fusion, a joint venture of Univision and ABC News that is also aimed at the young and growing population of Latinos and multiculturals who don’t conform to Pat Buchanan’s American ideal, debuted on Monday night with a mix of what its repetitive promos called “News,” “Pop Culture” and “Satire” in between commercials for ProActiv acne cream starring rocker Adam Levine.
McDonald’s announced it will no longer serve Heinz ketchup after the condiment company hired Burger King’s former CEO. Daniel Gross on the Brazilian business boom that’s behind all of the burger joint drama.
This may be the most high-profile corporate divorce case since Rupert Murdoch and Wendi Deng broke up. McDonald’s announced on Sunday it is ditching Heinz ketchup.There’s less—and more—than meets the eye. The less part? McDonald’s says it only uses Heinz ketchup in the Pittsburgh and Minneapolis markets. So this isn’t a major business disruption for either party. The more part? The relationship between American business icons is being torn asunder by a strange and interesting wrinkle in globalization: the advent of Brazilian investors as major forces in the U.
With an Ohio Walmart hosting a holiday food drive for its own workers, The Daily Beast's Michael Tomasky criticizes the notoriously stingy company for not paying them more.
He was arrested for graffiti, but Clayton Pettet won't rest until the world sees his art. And by art, we mean he's going to lose his virginity in front of a live audience.