Businesses

Tech Bubble? What Tech Bubble? 9

Posted by samzenpus
from the shiny-bubbles dept.
HughPickens.com writes: Conor Dougherty writes in the NYT that the tech industry's venture capitalists — the financiers who bet on companies when they are little more than an idea — are going out of their way to avoid the one word that could describe what is happening around them: Bubble. "I guess it is a scary word because in some sense no one wants it to stop," says Tomasz Tunguz. "And so if you utter it, do you pop it?" In 2000, tech stocks crashed, venture capital dried up and many young companies were vaporized. Today, people see shades of 2000 in the enormous valuations assigned to private companies like Uber, with a valuation of $41 billion, and Slack, the corporate messaging service that is about a year old and valued at $2.8 billion in its latest funding round. A few years ago private companies worth more than $1 billion were rare enough that venture capitalists called them "unicorns." Today, there are 107 unicorns and while nobody doubts that many of tech's unicorns are indeed real businesses, valuations are inflating, leading some people to worry that investment decisions are being guided by something venture capitalists call FOMO — the fear of missing out.

With interest rates at historic lows, excess capital causes investment bubbles. The result is too much money chasing too few great deals. Unfortunately, overcapitalizing startups with easy money results in superfluous spending and dangerously high burn rates and investors are happy to admit that this torrid pace of investment has started to worry them. "Do I think companies are overvalued as a whole? No," says Sam Altman, president of Y Combinator. "Do I think too much money can kill good companies? Yes. And that is an important difference."
EU

Greece Is Running Out of Money, Cannot Make June IMF Repayment 357

Posted by samzenpus
from the broker-than-broke dept.
jones_supa writes: Greece, the country which has been in extreme financial trouble and high debt for years, cannot make debt repayments to the International Monetary Fund (IMF) next month, unless it achieves a deal with creditors. 'The four installments for the IMF in June are €1.6 billion ($1.8 billion). This money will not be given and is not there to be given,' Interior Minister Nikos Voutsis told Greek Mega TV's weekend show. Shut out of bond markets and with bailout aid locked, cash-strapped Athens has been scraping state coffers to meet debt obligations and to pay wages and pensions. With its future as a member of the 19-nation eurozone potentially at stake, a second government minister accused its international lenders of subjecting it to slow and calculated torture.
News

Al-Qaeda's Job Application Form Revealed 131

Posted by samzenpus
from the get-a-job dept.
HughPickens.com writes: ABC News reports that the Office of the Director of National Intelligence has released a list of English-language material recovered during the raid the killed Osama bin Laden in Abbottabad, Pakistan in 2011 including one document dubbed "Instructions to Applicants," that would not be entirely out of place for an entry-level position at any American company – except for questions like the one about the applicant's willingness to blow themselves up. The questionnaire includes basic personal details, family history, marital status, and education level. It asks that applicants "answer the required information accurately and truthfully" and, "Please write clearly and legibly." Questions include: Is the applicant expert in chemistry, communications or any other field? Do they have a family member in the government who would cooperate with al Qaeda? Have they received any military training? Finally, it asks what the would-be jihadist would like to accomplish and, "Do you wish to execute a suicide operation?" For the final question, the application asks would-be killers that if they were to become martyrs, who should al Qaeda contact?

The corporate tone of the application is jarringly amusing, writes Amanda Taub, but it also hints at a larger truth: a terrorist organization like al-Qaeda is a large bureaucratic organization, albeit one in the "business" of mass-murdering innocent people. Jon Sopel, the North American editor from BBC News, joked that the application "looks like it has been written by someone who has spent too long working for Deloitte or Accenture, but bureaucracy exists in every walk of life – so why not on the path to violent jihad?"
Education

Google and Gates-Backed Khan Academy Introduces "Grit"-Based Classroom Funding 94

Posted by samzenpus
from the effort-counts dept.
theodp writes: Their intentions are no doubt good, but some will be troubled by Google and Khan Academy's recently-concluded LearnStorm initiative, which pitted kids-against-kids, schools-against-schools, and cities-against-cities in a 3-month learning challenge for prizes based not only on students' mastery of math skills on Khan Academy, but also their perceived 'hustle' (aka 'grit'). "Points are earned by mastering math skills and also for taking on challenging new concepts and persevering," explained a Khan Academy FAQ. A blog entry further explained, "They've earned points and prizes not only for mastering math skills but also for showing 'hustle,' a metric we created to measure grit, perseverance, and growth. They competed over 200,000 hours of learning and 13.6 million standards-aligned math problems. In addition, thanks to the generosity of Google.org, DonorsChoose.org, and Comcast's Internet Essentials, 34 underserved schools unlocked new devices for their classrooms and free home internet service for eligible families, increasing student access to online learning tools like Khan Academy." Apparently funded by a $2 million Google grant, the Google, Khan Academy, and DonorsChoose grit-based classroom funding comes on the heels of the same organizations' gender-based classroom funding initiative. Supported by some of the world's wealthiest individuals and corporations, Khan Academy's Board members include a Google Board member (Diane Green), spouse of a Google Board member (Ann Doerr), and the Managing Partner of Bill Gates' bgC3 (Larry Cohen); former Board members include Google Executive Chairman Eric Schmidt.
Math

A Beautiful Mind Mathematician John F. Nash Jr. Dies 152

Posted by samzenpus
from the rest-in-peace dept.
Rick Zeman writes: John F. Nash Jr. revolutionized the mathematical field of game theory and was given a mind that was unique and deeply troubled. He became known to most people by the movie about his life, A Beautiful Mind. Dr. Nash died, along with his wife, May 24 in a two-car accident on the New Jersey Turnpike. The Washington Post reports: "In 1994, when Dr. Nash received the Nobel Prize in economics, the award marked not only an intellectual triumph but also a personal one. More than four decades earlier, as a Princeton University graduate student, he had produced a 27-page thesis on game theory — in essence, the applied mathematical study of decision-making in situations of conflict — that would become one of the most celebrated works in the field. Before the academic world could fully recognize his achievement, Dr. Nash descended into a condition eventually diagnosed as schizophrenia. For the better part of 20 years, his once supremely rational mind was beset by delusions and hallucinations. By the time Dr. Nash emerged from his disturbed state, his ideas had influenced economics, foreign affairs, politics, biology — virtually every sphere of life fueled by competition. But he been absent from professional life for so long that some scholars assumed he was dead."
Businesses

Amazon Decides To Start Paying Tax In the UK 230

Posted by Soulskill
from the how-kind-of-them dept.
Mark Wilson sends word that Amazon will begin paying corporate taxes on profits made in the UK. The company had previously been recording most of its UK sales as being in Luxembourg, which let them avoid the higher taxes in the UK. But at the end of last year, UK regulators decided they were losing too much tax revenue because of this practice, so they began implementing legislation that would impose a 25% tax on corporations routing their profits elsewhere. Amazon is the first large corporation to make the change, and it's expected to put pressure on Google, Microsoft, Apple, and others to do the same.
News

Ireland Votes Yes To Same-Sex Marriage 536

Posted by Soulskill
from the have-it-your-way dept.
BarbaraHudson writes: Reuters is reporting that the citizens of Ireland voted overwhelmingly to legalize same-sex marriages. While it's also legal in 19 other countries, Ireland was the first to decide this by putting the question to the citizens. "This has really touched a nerve in Ireland," Equality Minister Aodhan O'Riordain said at the main count center in Dublin. "It's a very strong message to every LGBT (lesbian, gay, bisexual, and transgender) young person in Ireland and every LGBT young person in the world." Observers say the loss of moral authority of the Catholic church after a series of sex scandals was a strong contributing factor, with priests limiting their appeals to the people sitting in their pews. In contrast, the "Yes" side dominated social media.
Open Source

Ask Slashdot: Can SaaS Be Both Open Source and Economically Viable? 47

Posted by timothy
from the no-that-is-impossible dept.
An anonymous reader writes: The CTO behind Lucidchart, an online diagramming app, recently cited the open source rbush project as an invaluable tool for helping implement an "in-memory spatial index" that "increased spatial search performance by a factor of over 1,000 for large documents." My question is this: what risks does a SaaS company like Lucidchart face in making most of their own code public, like Google's recent move with Chrome for Android, and what benefits might be gained by doing so? Wouldn't sharing the code just generate more users and interest? Even if competitors did copy it, they'd always be a step behind the latest developments.
The Media

Death In the Browser Tab 91

Posted by Soulskill
from the not-about-chrome's-memory-management dept.
theodp writes: "There you are watching another death on video," writes the NY Times' Teju Cole. "In the course of ordinary life — at lunch or in bed, in a car or in the park — you are suddenly plunged into someone else's crisis, someone else's horror. It arrives, absurdly, in the midst of banal things. That is how, late one afternoon in April, I watched Walter Scott die. The footage of his death, taken by a passer-by, had just been published online on the front page of The New York Times. I watched it, sitting at my desk in Brooklyn, and was stunned by it." Cole continues, "For most of human history, to see someone die, you had to be there. Depictions of death, if there were any, came later, at a certain remove of time and space." Disturbing as they may be (Cole notes he couldn't bear to watch the ISIS beheading videos), such images may ultimately change things for the better. Is it better to publish them than sweep them under the carpet?
United States

TPP Fast Track Passes Key Vote In the Senate, Moves On To the House 97

Posted by Soulskill
from the you-can-trust-us dept.
onproton writes: The Senate voted yesterday to reauthorize the controversial Trade Promotion Authority (TPA), which expedites, or 'Fast Tracks,' the passage of trade agreements through Congress. If also approved by the House, it will grant the authority to decide and negotiate the terms of agreements like the Trans-Pacific Partnership (TPP) to the executive branch, significantly limiting congressional involvement and leaving little room for debate. Proponents of the bill, namely the USTR, claim that Fast Tracking the TPP is critical to successfully negotiating its terms internationally, and will "ensure that Congress, stakeholders and the public are closely involved before, during and after the conclusion of trade agreement negotiations." Though in reality, it does not introduce significant changes in the transparency or reporting requirements that are currently in place, which have allowed the negotiations of this deal to be held in secret since 2009. With concerns being raised about the deal's impacts on everything from intellectual property rights to government sovereignty, it is surprising to many that Congress would abdicate their role in determining the specifics of agreements that may have far reaching implications for their constituents.
United Kingdom

Bank of England Accidentally E-mails Top-Secret "Brexit" Plan To the Guardian 374

Posted by timothy
from the brexit-is-good-with-toast-and-jam dept.
schwit1 writes: The first rule of "Project Bookend" is that you don't talk about "Project Bookend." In retrospect, maybe the first rule should have been "you don't accidentally e-mail 'Project Bookend' to a news agency," because as the Guardian reports, one of its editors opened his inbox and was surprised to find a message from the BOE's Head of Press Jeremy Harrison outlining the UK financial market equivalent of the Manhattan project. Project Bookend is a secret (or 'was' a secret) initiative undertaken by the BOE to study what the fallout might be from a potential 'Brexit', but if anyone asked what Sir Jon Cunliffe and a few senior staffers were up to, they were instructed to say that they were busy investigating "a broad range of European economic issues." And if you haven't heard the term before, "Brexit" refers to the possibility of Britain leaving the EU -- one of the possible outcomes of an upcoming referendum.
Communications

NSA-Reform Bill Fails In US Senate 135

Posted by timothy
from the couldn't-have-happened-to-a-nicer-bill dept.
New submitter Steven King writes with a link to The Daily Dot's report that the U.S. Senate has rejected the controversial USA Freedom Act, thus "all but guaranteeing that key provisions of the USA Patriot Act will expire"; had it passed, the bill would have allowed continued use of some mass data-collection practices, but with the addition of stronger oversight. From the article: The Senate failed to reach agreement on passage of the USA Freedom Act, a bill to reauthorize and reform Section 215 of the USA Patriot Act, which the government has used to conduct bulk surveillance of Americans' phone records. The House of Representatives passed the bill last week by an overwhelming bipartisan majority, but Senate Democrats, who unified behind the bill, did not get enough Republican votes to assure passage. The linked piece also mentions that the EFF shifted its position on this bill, after a panel of Federal judges ruled that the Feds at the NSA had overstepped their bounds in collecting a seemingly unlimited trove of metadata relating to American citizen's phone calls.
Earth

California Votes To Ban Microbeads 242

Posted by timothy
from the stock-up-now-on-crest dept.
New submitter Kristine Lofgren writes: The California Assembly just passed a vote to ban toxic microbeads, the tiny flecks found in toothpastes and exfoliants. Microbeads cause a range of problems, from clogging waterways to getting stuck in gums. The ban would be the strictest of its kind in the nation. As the article notes, the California Senate would need to pass a bill as well, for this ban to take effect, and if that happens, the resulting prohibition will come into place in 2020. From the article: Last year, Illinois became the first state in the U.S. to pass a ban on the usage of microbeads in cosmetics, approving a law that will go into effect in 2018, and earlier this year two congressmen introduced a bipartisan bill to outlaw the use of microbeads nationwide. And for exceptionally good reason; the beads, which serve as exfoliants and colorants are a massive source of water pollution, with scientists estimating that 471 million plastic microbeads are released into San Francisco Bay alone every single day.
The Media

WSJ Crowdsources Investigation of Hillary Clinton Emails 230

Posted by timothy
from the tag-this-story-recursive dept.
PvtVoid writes: The Wall Street Journal now has a page up that encourages readers to sift through and tag Hillary Clinton's emails on Benghazi. Users can click on suggested tags such as "Heated", "Personal", "Boring", or "Interesting", or supply their own tags. What could possibly go wrong? I'm tagging this story "election2016."
News

Protons Collide At 13 TeV For the First Time At the LHC 50

Posted by Soulskill
from the go-big-or-go-home dept.
An anonymous reader writes to let everyone know the LHC has now smashed protons together at 13 TeV, the highest energy level yet achieved. They've posted the first images captured from the collisions, and explained the testing process as well. Jorg Wenninger of the LHC Operations team says, "When we start to bring the beams into collision at a new energy, they often miss each other. The beams are tiny – only about 20 microns in diameter at 6.5 TeV; more than 10 times smaller than at 450 GeV. So we have to scan around – adjusting the orbit of each beam until collision rates provided by the experiments tell us that they are colliding properly." Spokesperson Tiziano Camporesi adds, "The collisions at 13 TeV will allow us to further test all improvements that have been made to the trigger and reconstruction systems, and check the synchronisation of all the components of our detector."