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Here’s Why Tesla Motors Is Named For A Famous Serbian Inventor

Here’s Why Tesla Motors Is Named For A Famous Serbian Inventor

ALEX DAVIES AUG. 8, 2013, 5:40 PM 2,460 10

By making two remarkable electric cars and becoming the first new American auto company to turn a profit in decades, Tesla Motors has made itself into a household name. But why did founders Martin Eberhard and Marc Tarpenning (CEO Elon Musk joined the company soon after it was incorporated) choose the name Tesla? It’s an homage to Nikola Tesla (1856-1943), the Serbian inventor and engineer who created the induction motor and alternating-current (AC) power transmission. According to an old post on the automaker’s website (archived here): Without Tesla‘s vision and brilliance, our car wouldn’t be possible. We’re confident that if he were alive today, Nikola Tesla would look over our 100 percent electric car and nod his head with both understanding and approval. CEO Elon Musk, who was not involved in the founding of the company, has told PBS he counts Thomas Edison, a Tesla rival, as a personal hero, along with Winston Churchill. Musk does have love for Tesla, though, pledging last year to donate to a project to turn the inventor’s old lab into a museum, according to Jalopnik. An inveterate inventor, Tesla filed more than 700 patents for everything from wireless communication to fluorescent lighting. Some of his ideas never came to fruition, including a “death-beam.” In July 1934, he told the New York Times he had invented a way to “send concentrated beams of particles through the free air,” powerful enough to bring down 10,000 planes from 250 miles away, or kill millions of soldiers. All in all, Tesla was a very cool dude. He hung out with Albert Einstein when they and other scientists took a tour of a wireless station in New Jersey, in 1921: There’s a plaque there to honor him:

screen shot 2013-08-08 at 2.59.40 pm nikola-tesla-plaque

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Elon Musk And Richard Branson Give Their Best Advice To Entrepreneurs

Elon Musk And Richard Branson Give Their Best Advice To Entrepreneurs

MAX NISEN AND ALEXANDRA MONDALEK AUG. 8, 2013, 12:53 PM 3,572

Tesla CEO Elon Musk and Virgin Chairman Sir Richard Branson, two of the tech world’s most lauded entrepreneurs, just gave their best advice on how to start a company during a Google + hangout this afternoon. It was sponsored jointly by Google for Entrepreneurs, the company’s set of programs and tools to support startups, and Virgin’s not for profit foundation Virgin Unite. Here are some of the most interesting tips and exchanges.

Their core advice for entrepreneurs

Branson: “If you’ve got a great idea that would improve people’s lives, just do it.”

Musk: “You want to be extra rigorous about making best possible thing you can, find everything that’s wrong with it and fix it. Seek negative feedback, particularly from friends”

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Michael Hayman, co-founder of StartUp Britain, draws inspiration from six innovators who show what entrepreneurs can achieve

Meet the innovators changing our world

Michael Hayman, co-founder of StartUp Britain, draws inspiration from six remarkable people who show what entrepreneurs can achieve .

By Michael Hayman

6:00AM BST 07 Aug 2013

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“The people who are crazy enough to think they can change the world, are the ones who do.” That was the clarion call of the campaign that relaunched one of the 21st century’s best-loved brands: Think Different was the defining moment for Apple and Steve Jobs. It saved a corporation and, for me, captured the essence of the entrepreneur. It can be hard to define the attributes of an entrepreneur, but you certainly know when you’ve met one. They are an impatient tribe who constantly challenge the status quo – fuelled by a driving intensity to invent or invest, to build or conquer. To get the job done. If you work for an entrepreneur, you might very well see them in extremes, perhaps as a saviour, perhaps a sociopath, very possibly both. One thing is for sure: they are far from ordinary. Steve Jobs caught the swashbuckling characteristics of the breed perfectly when he said: “It’s better to be a pirate than join the navy.” And in these turbulent times, where technology and trade make for a combustible mix, those who have hoisted the Jolly Roger rather than opting for corporate conformity are winning the battle of ideas. You don’t have to look far to find the evidence that entrepreneurs are building the titans of tomorrow. It is estimated that two thirds of the companies that will make up the S&P 500 in 10 years’ time haven’t even been created yet. Or take the Fortune 500 – almost 87pc of the companies that made up the original list in 1955 no longer feature. The lifespan of a S&P 500 company has declined from 67 years in the 1920s to just 15 years today. And it is entrepreneurs who are filling the void. As Carl Schramm, former president and chief executive of the Kauffman Foundation points out, big business has not created one net job in the US during the past 40 years. Not one. For the last four years, I have enjoyed an unparalleled vantage point from which to observe the influence entrepreneurs have on our everyday lives. The firm I co-founded, Seven Hills, is one of the fastest growing in its sector; I helped to create StartUp Britain, the national campaign for early-stage businesses; and I’ve been behind two of the biggest festivals for entrepreneurs in the UK – MADE and Accelerate. My work gives me the chance to meet some of the most exciting and innovative founders in the world. Here are six of them who have most inspired me over the past year. One you will almost certainly have heard of, the rest quite possibly not. They do not cover every sector or innovation that is changing how people across the world live and work. But they each illustrate how entrepreneurship is making a difference, and why it matters. They are the “crazy ones” who change lives. Read more of this post

In Deal Hunt, Big-Game Buffett Settles for Small Prey; Berkshire Hathaway Boss Trains His ‘Elephant Gun’ on Junior-Sized Targets With Larger Ones Scarce

Updated August 8, 2013, 4:38 p.m. ET

In Deal Hunt, Big-Game Buffett Settles for Small Prey

Berkshire Hathaway Boss Trains His ‘Elephant Gun’ on Junior-Sized Targets With Larger Ones Scarce

ANUPREETA DAS

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Warren Buffett hasn’t fired his “elephant gun” much recently, but he has put his managers on the hunt for smaller prey. Berkshire Hathaway Inc.’s BRKB +0.72% subsidiary operations collectively spent about $2.3 billion on 26 acquisitions last year, which the company says is a record amount. They have continued that streak this year, acquiring more than a dozen companies in the first half of 2013. Berkshire hasn’t disclosed the amount spent by its subsidiaries on acquisitions this year. With bigger, multibillion-dollar deals few and far between of late, Mr. Buffett increasingly favors such “bolt-on” acquisitions because they increase Berkshire’s earnings and enable it to use its cash pile, which stood at $36 billion at the end of June. Net cash flow from operations rose nearly 36% for the first six months of 2013 from a year earlier, putting greater pressure on Berkshire to use its cash rather than hoard it. In a telephone interview, the Omaha, Neb.-based billionaire investor said he expected these types of deals to be frequent and numerous. “I like the managers finding opportunities,” Mr. Buffett said. Read more of this post

Bill Gross’ Strategy for Combating Rising Rates; The Pimco chief explains how to alter a bond portfolio for a new set of circumstances

THURSDAY, AUGUST 8, 2013

Bill Gross’ Strategy for Combating Rising Rates

By WILLIAM H. GROSS  | MORE ARTICLES BY AUTHOR

The Pimco chief explains how to alter a bond portfolio for a new set of circumstances.

Adaptation is tantamount to survival in the physical world. So argued Darwin, at least, and I am not one to argue with most science and its interpretation of natural laws. Adaptation has been critical as well for the survival of countries during wartime, incidents of which I am drawn to like a bear to honey, especially when they concern WWI. Stick with me for a few paragraphs on this – the following is not likely to be boring and almost certainly should be instructive. In the first decade of the 20th century, British war colleges and their generals were philosophically trapped by the successful strategies of a prior era – an era before the invention of a functional machine gun. They felt that machine guns might dampen the spirit of their fighting forces. What counted was the horse and the sword. Britain’s cavalry training manual of 1907 in fact stated that “the rifle or machine gun, effective as it is, cannot replace the devastation produced by the speed of the horse, the magnetism of the charge, and the terror of cold steel.” Read more of this post

Bill Gates on His Foundation’s Health and Education Campaigns

Bill Gates on His Foundation’s Health and Education Campaigns

By Brad Stone on August 08, 2013

You recently tweeted that very rare clip of FDR being pushed in his wheelchair in 1944. Why did you find that to be a powerful image?
Polio eradication is this amazing effort. We’re raising the money to get it done by 2018. When these problems leave the rich world, they’re out of sight, out of mind. And reminding people of what a big problem it was and how amazingly others responded—which is why we have these tools at all—helps people, saying this can be the second disease to be eradicated.

What are the prospects for the eradication of polio and malaria?
Polio is where we have a very concrete plan. It’s raising $5.5 billion—of which the [Bill & Melinda Gates] Foundation is going to give $1.8 billion. If we get credibility from the polio success, we can be more articulate about a malaria or measles elimination plan. The big one would be malaria, but that’s a long-term, in-my-lifetime-type thing, not imminent. Read more of this post

Smashburger CEO Attributes Success To Unorthodox Marketing Strategy; Smashburger focuses heavily on events, such as when it offered a free sandwich to anyone with “burger” or “berger” in their name on National Cheeseburger day

Smashburger CEO Attributes Success To Unorthodox Marketing Strategy

MICHAEL THRASHER AUG. 8, 2013, 5:53 PM 1,429

Smashburger has opened more than 200 restaurants in the past seven years.  Founder Tom Ryan told Nation’s Restaurant News the fast-casual chain’s success can be attributed to an unconventional marketing philosophy that relies heavily on social media and old-fashioned word of mouth. Ryan said the chain still uses some radio and television advertising. But Smashburger focuses heavily on events, such as when it offered a free sandwich to anyone with “burger” or “berger” in their name on National Cheeseburger day, he said. Ryan said these events become a topic of conversation for bloggers and social media. “From the beginning, we wanted Smashburger to be a defining brand for the next generation, and the marketing mix for how you engage them is different than for how you engaged the last generation,” Ryan said.

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