Batista Loses Brazil’s Richest Title to Lemann as OSX Plummets
By Alex Cuadros and Juan Pablo Spinetto, Bloomberg News
Eike Batista is no longer Brazil’s richest person after shares of his natural-resource startups plunged today. The title now belongs to Anheuser-Busch InBev NV investor Jorge Paulo Lemann.
Batista’s shipbuilder, OSX Brasil SA, fell 6.8 percent to 8.95 reais at 12:37 p.m. in Sao Paulo, leading declines by five of his six publicly [...]
Part of a series about the best and worst internships we’ve ever had.
Most people spend hours pouring over Craigslist, LinkedIn, and other job listing sites trying to find an internship. I found mine riding the train.
I spent the previous summer picking up dirty dishes in an airport sky lounge to earn flight benefits so I could jet set across the country. On my way home from a whirlwind trip to Washington, D.C., I serendipitously began a [...]
From The Reformed Broker:
…Jeff Bezos is about to turn battered local retailers into dead ones. Rock-a-bye, baby.
How do we know this? After years of lobbying and lawsuiting against states like California and Texas who wanted Amazon to collect sales tax for their residents, the company suddenly and quietly capitulated. They’ve announced that they are dropping their fight and will begin collecting state sales tax from customers this year. Why would [...]
Facebook’s stock is off more than 30% since its IPO. It has had one of the worst first months after a public offering, ever.
This has corners of Silicon Valley reeling.
One of Silicon Valley’s most influential early stage startup investors, Y-Combinator’s Paul Graham, wrote an email this week to dozens of CEOs in his portfolio warning that because of the market’s reaction to the IPO, “bad times” may be ahead.
He argued that startups might soon have [...]
by Alex Fitzpatrick
Good news for all of the New York City-based startups out there: A new bill under discussion in the New York State Assembly would give angel investors a sizable tax credit for investing in your company.
The Angel Investor Tax Credit, proposed by Democratic Assemblymember Micah Kellner, would give a 25% tax credit to investors who put between $25,000 and $1 million of their money behind a New York City-based [...]
Facebook Inc. (FB), seeking as much as $96 billion in its initial public offering next week, is overvalued at that price, according to a Bloomberg investor poll.
Underscoring concerns that growth may taper for the world’s biggest social network, 79 percent of respondents in the Bloomberg Global Poll of 1,253 investors, analysts and traders who are Bloomberg subscribers said Facebook doesn’t deserve a valuation so high.
While Facebook’s communication and photo-sharing [...]
The rate of new company creation in the United States dropped to a record low in 2010, according to a survey by the US Census Bureau’s Center for Economic Studies and the Ewing Marion Kauffman Foundation.
Researchers found the business startup rate fell to 7.87 percent, Reuters reported. It’s the first time it’s dipped below 8 percent. The startup rate was at its highest in 1987, when it was 13.02 percent.
New firms [...]
From The Reformed Broker:
A few weeks back I told you guys about all the amazing startups I got to see at Lindzonpalooza in San Diego. I’m really excited to show you guys this…
Grant Gurtin is a student at Brown University and has been quietly building what I believe will be a major force for sporting event coverage on the web. It’s called Fanium and I suppose the best way to [...]
To backup, the JOBS act has been called the “crowdfunding act” because it lifts various regulations on startups raising money, and how many shareholders it can have.
The JOBS Act has been hailed as a bipartisan triumph.
Here’s the left’s response, per Rolling Stone’s Taibbi: The JOBS Act “couldn’t suck worse.” It will nearly legalize and encourage fraud on Wall Street. And it completely goes against the populist anger against Wall Street that sparked Occupy [...]
This post originally appeared at American Express Open Forum.
Lauren Rottet started her international architecture and design firm during the height of the recession in 2008. Many of her peers thought it was a crazy move.
Within four years, the firm opened offices in New York, Houston, Los Angeles, San Francisco and Shanghai. Rottet Studios has worked on several iconic hotels: The Surrey in New York, The St. Regis Aspen, the new Presidential Bungalows at [...]
He has famously lambasted the value of a university education and has even offered students cash to drop out.
But now PayPal co-founder Peter Thiel is doing the unthinkable: he’s teaching a class at one of the country’s top educational institutions.
Thiel, who has invested bundles of cash in startup companies in Silicon Valley, will teach ‘Computer Science 183: Startup’ at Stanford University.
Yet students should not be fooled that this is his [...]
The New Diamond Age
Armed with inexpensive, mass-produced gems, two startups are launching an assault on the De Beers cartel.
Next up: the computing industry.
by Alyson Shontell
Facebook has an Achilles heel and scrappy startups are kicking it repeatedly.
Its mobile experience is terrible.
The app is slow to open; it doesn’t update in real time. Uploading photos is painfully slow.
Apparently this bothers Facebook CEO Mark Zuckerberg, who has made improving Facebook’s mobile experience a personal priority.
Startups like Instagram are taking advantage of Facebook’s missed mobile opportunity. By simplifying the social photo sharing experience on iPhones, Instagram got 25 million users in 1.5 [...]
by Julie Bort
Amazon today announced a new service to let Web sites grow to enormous sizes quickly without slowing down performance.
It’s the latest addition to Amazon Web Services, which is used by companies to offload certain tasks — like data storage — without spending millions on hardware and software.
A new form of database known as NoSQL makes for Web sites to grow really huge without slowing down performance. NoSQL does this [...]
Plan B: The plant Gevo is retrofitting in Luverne, Minnesota.
BY KEVIN BULLIS
Gevo, a prominent advanced-biofuels company that has received millions in U.S. government funding to develop fuels made from cellulosic sources such as grass and wood chips, is finding that it can’t use these materials if it hopes to survive. Instead, it’s going to use corn, a common source for conventional biofuels. What’s more, most of the product from its first [...]
The fallout could be dramatic, CNN reported Wednesday. “Of the few hundred or so solar panel makers worldwide, just 20 to 40 are expected to remain standing in a few years time, said Mark Bachman, a renewables analyst at Avian Securities.”
“A combination of slack demand and massive oversupply” is leading to rapidly declining prices for solar panels, CNN reports. The supply side of that equation, at least, has been exacerbated [...]
Attracting top employees can be difficult for cash-strapped startups. So, in many cases, they give out company stock to supplement salaries that employees might feel is below-market.
Zynga followed that strategy. But now the CityVille and FarmVille maker apparently wishes it hadn’t, according to a new report.
Citing industry sources, The Wall Street Journal reported today that Zynga CEO Mark Pincus, along with his top executives, decided last year as they were preparing [...]