Republican Cindy Hyde-Smith is a Mississipi GOP Senator is going into a runoff election against her Democratic opponent, a Black man named Mike Espy who might end up the first Black Mississipi Senator since 1883. She made headlines last week with a joke about attending a “public hanging.” She also made public comments in favor of voter suppression.
Google says they made the donation before they heard about her comments and they never would have donated had they known. However, she espoused hateful views before her recent comments, and Google isn’t asking for its money back.
Taxpayers pay the bill, investors get the rewards. I’m reminded of the 2008 Wall Street bailout, where the slogan for opponents was “socialized risk, privatized profit.”
“Apple’s world-beating financial engineering is teaching the corporate world how to exploit Trump’s tax cuts.” [Cory Doctorow/Boing Boing]
Businesses are starting to realize nobody’s interested in VR. Seems like we have to go through this every 10-15 years with whatever technology is hot at the time, starting with text-based MUDs and MUSHes and MOOs in the 80s. (Joshua Topolsky/The Outline)
‘No comment’: The death of business reporting: More and more companies are refusing to talk with journalists at all. I see this for myself every day. They don’t trust us and don’t think they need us – they use corporate websites and social media to talk directly to stakeholders. (The Washington Post)
I’m intrigued by the potential of blockchain. But there are an awful lot of bullshit blockchain business plans out there, and it seems like this plan is one of them. It finds a problem that doesn’t actually exist, and suggests a solution that won’t fix the problem.
What Twitter needs isn’t an acquisition or a new strategy. It’s time. Yes. “Twitter is an acquired taste.”
No sympathy for Twitter here. Twitter chose whether and when to go public. If Wall Street is being mean to Twitter, tough nuts. It should have been no surprise; this is how Wall Street works.
With Disney and Google supposedly bowing out of the negotiations, Apple uninterested and Salesforce tepid at best, perhaps the best option would be for Twitter to go private with owners that are happy with the company as it is now — a middle-sized Internet global media platform, rather than a Facebook-killer. But could such buyers be found? Or would any buyer expect meteoric growth?
(Timothy B. Lee, Vox)
Once again, momentum FTW. I wasn’t going to write at all because it was late and I’m traveling for business and I have to get an early start tomorrow. “Just write something,” I said to myself. “Three words. That’s all you have to do.”
But once I got started I was rolling and before I knew it the word goal on Ulysses went from gray to green and I was done.
A business associate today asked me about my creative writing — which is I think the first time that’s happened; usually my worlds are compartmentalized. I commented to him that these progress reports are surprisingly helpful. I don’t kid myself that you are fascinated by them — you have your own lives, and I expect if I stopped writing today, you’d virtually not notice at all. In about two or three years one of you might say, “Hey, did you used to do creative writing? Whatever happened to that?” But I would know if I miss even one day, and it matters.
Nutanix IPO Blesses Hyperconverged Data Centers – me, Light Reading
Nutanix IPO trades at $33.74 midway through its IPO day Friday, more than double the $16 initial price.
They laughed Hamdog inventor Mark Murray off Shark Tank Australia. But who’s laughing now?!
Monitoring software lets employers keep an eye on their remote workers, with keyloggers to see what’s on their screens and cameras to watch them in their home offices. That’s both wrong and bad for business, says David Heinemeier Hansson, a partner at 37 Signals, a company filled with remote workers And Ignacio Uriarte is an artist who works with Excel and other office software.
Out of the Office – Benjamen Walker’s Theory of Everything podcast
I’ve been working remotely for most of the last 25 years. Hansson is right — employers should keep an eye on the work product and ignore work habits. If the work product is all right, it doesn’t matter if the employee has what appears outwardly to be lousy work habits.
Husbands often go crazy when on business trips (see for example: Don Draper). I am no exception. Like, when I’m at home I stay away from diet soda because of its questionable health effects and because Julie says it makes me spacey. But right now I’m drinking a 20-ounce Diet Coke.
It’s just a short step from here to underwear on my head.
Older workers are finding it harder to get jobs in Silicon Valley, say Carol Hymowitz and Robert Burnson at Reuters. So they take steps to seem younger and fit in. They hang around the parking lots of companies to see how their prospective colleagues dress, They study Reddit and other social platforms to get up to date on the latest pop culture references. They hang up their business suits and bowties. And they even go in for plastic surgery and lawsuits.
I’m 55. I haven’t personally encountered age discrimination. I’m fortunate. Or oblivious.
Developer David Smith says 80% of his iOS revenue comes from ads.
He got his hair permed when he got out of the Air Force, and was unsuccessfully trying to make a living as a painter, says longtime business partner Annette Kowalski.
“He got this bright idea that he could save money on haircuts. So he let his hair grow, he got a perm, and decided he would never need a haircut again,” Kowalski explains.
Before he could change it back, though, the perm became his company’s logo — Ross hated it. “He could never, ever, ever change his hair, and he was so mad about that,” Kowalski says. “He got tired of that curly hair.”
Ross was a meticulous businessman whose every move on his TV series “The Joy of Painting,” was scripted in advance. He did three copies of every painting he did on the show. His art supply company is still in business today, more than 20 years after his death, and the show is coming to Netflix.
Kowalski discovered Ross “in the aftermath of a family tragedy.” Her oldest son was killed in a traffic accident. All she could do afterward “was lay on the house and watch television.”
She watched a painter named Bill Alexander, who was big on PBS back then. Kowalski’s husband was desperate to get her out of the house, so he signed her up for Alexander’s painting class, 900 miles away in Clearwater, Fla. But then Alexander stopped teaching and passed his classes off to an unknown protege.
“I was very disappointed,” Kowalski says. “I so wanted to paint with Bill Alexander. But my husband said, ‘Get up. Get in the car. We’re going.’ ”
It was a five-day class in a hotel conference room. At the easel upfront was a guy with a perm who went by Bob. His paintings were good, but when he started talking to the class, that’s when Kowalski knew she had met someone special.
Bob Bryan, Business Insider:
We’ve seen some crazy things on earnings calls before, but this has to take the cake.
During Ruby Tuesday’s second-quarter earnings call, an unidentified caller posed as Bud Fox, Charlie Sheen’s character from the movie “Wall Street,” and asked CEO JJ Buettgen if the burger chain’s business had been affected by the death of Harambe.
The caller even said they worked for the Geneva Roth Holding Corporation, a fictional company from “Wall Street.”
Earnings calls are almost always deathly dry, with the exception of Cisco when John Chambers was running things. But even Chambers never went dicks-out for Harambe.
I would die from joy if something like this ever happened on a call I was on.
Ellen Huet, Bloomberg:
Gurbaksh Chahal wanted to be a role model for the sales team at his digital advertising startup and show them how to close a deal. But the co-founder and chief executive officer of Gravity4 Inc. knew he couldn’t be effective as the face of the business. In 2014, he had been removed from the last company he started following a fight with his girlfriend a year earlier, in which he hit and kicked her 117 times. The brutal ordeal, which had been caught on security-camera footage, resulted in probation for Chahal and shattered his reputation.
Last year, Chahal came up with a solution: He created an alter ego named Christian Gray, according to a half dozen people familiar with the situation. The character, who shares a very similar name with one from 50 Shades of Grey, has his own LinkedIn pagefeaturing a head shot of Josh Dallas, an actor who appears on the ABC fairytale drama Once Upon a Time. Chahal would e-mail marketing professionals as Gray, and when he hooked a potential customer, the CEO would berate staff for being outsold by a fake person, said the people, who asked not to be named for fear of retribution. Two people said Chahal had at times used Gray’s sales leads as an excuse to fire workers.
But Gray’s career didn’t last long. While still on probation from his previous domestic-violence conviction, Chahal kicked another girlfriend in late 2014 and threatened to report her to immigration services, according to a police report that surfaced last year. While there wasn’t enough evidence to file criminal charges in that incident, it led to a judge revoking his probation last month, prompting Chahal to hand over the CEO role to his sister. Gravity4 and an attorney for Chahal didn’t respond to multiple requests for comment. A California district judge sentenced Chahal on Friday to a year in a county jail for violating his probation, pending an appeal, which his attorney said he plans to do.
Chahal’s self-destruction—and the former colleagues, shareholders, customers, and women left in the rubble—is an extreme case, but it demonstrates a more common risk in Silicon Valley of entrepreneurs who amass too much power. Chahal’s earlier achievements enabled him to run his businesses unchecked and use vague promises of startup riches to recruit talent. “He has a brilliant mind and a very flawed personality,” said Sam Singer, a crisis communications consultant who worked for Chahal in 2014. “He has become a poster child for everything the public thinks is wrong with Silicon Valley: wealth that comes too fast and too easily, arrogant behavior, the belief that the rules don’t apply to them and they are somehow above the law.”
The photo just screams, “Asshole.”
[H]ow many of us have actually seen crude oil? How does it get from ground to gas tank? And who are the people along the way turning thick black crude into light, clear, gasoline. Oil companies are some of the largest businesses on earth, but there are thousands and thousands of tiny operations that are just as essential to the oil industry. We wanted to get to know them.
Here at Planet Money, we thought the best way to see into the business of oil would be to get into the business of oil. Today on the show, that’s exactly what we’re going to do, starting with a briefcase full of cash and plane tickets to Kansas.
Me, Light Reading:
Can you believe people still think open source isn’t fit for business?
Peter Thiel, The New York Times:
Last month, I spoke at the Republican National Convention in Cleveland because I believe our country is on the wrong track, and we need to solve real problems instead of fighting fake culture wars. I’m glad that an arena full of Republicans stood up to applaud when I said I was proud to be gay, because gay pride shouldn’t be a partisan issue. All people deserve respect, and nobody’s sexuality should be made a public fixation.
Unfortunately, lurid interest in gay life isn’t a thing of the past. Last week, The Daily Beast published an article that effectively outed gay Olympic athletes, treating their sexuality as a curiosity for the sake of internet clicks. The article endangered the lives of gay men from less tolerant countries, and a public outcry led to its swift retraction. While the article never should have been published, the editors’ prompt response shows how journalistic norms can improve, if the public demands it.
Not mentioned here: The vast databases of private information compiled by business and government in the name of marketing and national security. That kind of information is potentially far more damaging to far more people than sex tapes.
Also, while Thiel is right that even public figures have a right to privacy,I don’t want to live in a world where billionaires decide the boundaries of legitimate journalism. (See also.)