140-Year-Old Business Advice That Still Holds Up Today; Some work has inherent value. If you are involved with a business that produces something for the benefit of the community or society at large, you are adding something positive to the world. In return, your compensation may not be spectacular, but if you can make a living and save for the future, you’ll likely feel better about your life than if you’re involved in an occupation that takes something away from the world.

140-Year-Old Business Advice That Still Holds Up Today

LUKE LANDESCONSUMERISM COMMENTARY AUG. 9, 2013, 4:55 PM 2,098 2

There may be only about six stories in personal finance, but those stories seem to endure the passing of time. Good storytellers can breathe new life into the same old financial advice, and great communicators can introduce world-weary concepts to those who might need to hear them for the first time. While looking for information about a town in upstate New York, I came across a gazetteer written in 1871 for Saratoga County. It’s a booklet, digitized for aiding online research, containing a business directory of several towns within that county. Like a telephone directory, the book contains names and addresses of residents, although unlike a telephone directory, there are no phone numbers. The book is more than just a directory, though. The gazetteer offers historical accounts of the towns covered as well as general information a household in 1871 might need, such as a guide to the decimal system of measures, “recipes” for home remedies for common ailments, and of course, advertisements. (See one such advertisement, for pills “to prevent female irregularities,” reproduced here.) And particularly interesting was a section titled, “How to Succeed in Business.” Several pages in the book are dedicated to help readers make good decisions with their labors, their interpersonal relationships, and the management of their money. There’s nothing particularly special about this. Financial self-help guides and business advice have been published for longer than this country has been in existence, but I enjoyed this discovery and thought it would be worth sharing. Here are some excerpts, first on being an upright citizen in business. Read more of this post

The Gorilla Lurking Where We Can’t See It; A study of radiologists shows that when we pay careful attention to one thing we become literally blind to others—even startling ones like gorillas

August 9, 2013, 8:34 p.m. ET

The Gorilla Lurking Where We Can’t See It

ALISON GOPNIK

Imagine that you are a radiologist searching through slides of lung tissue for abnormalities. On one slide, right next to a suspicious nodule, there is the image of a large, threatening gorilla. What would you do? Write to the American Medical Association? Check yourself into the schizophrenia clinic next door? Track down the practical joker among the lab technicians? In fact, you probably wouldn’t do anything. That is because, although you were staring right at the gorilla, you probably wouldn’t have seen it. That startling fact shows just how little we understand about consciousness. Read more of this post

Ex-Top Official Says China’s Xi Not Serious in Tackling Graft; “I can only see one thing: he has continued suppression. Besides that, I can’t see what else he wants to do. So I think he probably just wants to do one thing: to maintain his stability, maintain his position.”

Ex-Top Official Says China’s Xi Not Serious in Tackling Graft

By Sui-Lee Wee on 2:47 pm August 10, 2013.

File photo of Bao, a former member of the Central Committee of the Communist Party of China, smoking at home during an interview in Beijing

Bao Tong, former member of the Central Committee of the Communist Party of China, smokes at home during an interview in Beijing, in this February 20, 2013 file photo. (Reuters Photo/Petar Kujundzic/Files)

Beijing. Chinese President Xi Jinping is not serious about fighting corruption and is more intent on maintaining his position than curing the country’s “sickness,” the most senior official jailed over the 1989 Tiananmen Square protests said on Friday. Bao Tong, the most trusted aide to purged reformist Communist Party chief Zhao Ziyang, characterized the new president as no different from Mao Zedong — the leader who led China into the chaos of the Cultural Revolution. It was Bao’s harshest criticism to date of Xi, who many liberals and intellectuals are hoping will emerge as a reformer, like his father, Xi Zhongxun, a liberal-minded former vice premier. “I can only see one thing: he has continued suppression,” Bao, 80, told Reuters in his apartment in Beijing. “Besides that, I can’t see what else he wants to do. So I think he probably just wants to do one thing: to maintain his stability, maintain his position.” Read more of this post

Are Startups Too Busy to be Creative?

Are Startups Too Busy to be Creative?

Aug 7, 2013 · 700 views

Alex Mayyasi. 

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When a fan asked Ernest Hemingway how to start writing a novel, he recommended cleaning the fridge.  It was not an insult. It alluded to the weird way that our best ideas seem to pop into our head unbidden when we engage in a mindless task.  In an opinion piece for the New York Times, essayist and cartoonist Tim Kreider once described what he calls “The Busy Trap.” Differentiating between people busy with multiple minimum wage jobs and those who self-impose busyness by taking on ever more responsibilities and activities, he questions what it means when people exclaim “I’m so busy!” Read more of this post

All the Presidents’ Vacation Reading; Can a modern president hope to read as much as Adams, Lincoln and Truman did?

August 9, 2013, 8:48 p.m. ET

All the Presidents’ Vacation Reading

Can a modern president hope to read as much as Adams, Lincoln and Truman did?

TEVI TROY

This month, for a fourth summer, President Barack Obama will vacation on Martha’s Vineyard. What will he read during his down time? That, too, has become something of a summer ritual. On his two most recent trips, Mr. Obama has made a pilgrimage to the Bunch of Grapes bookstore to pick up some books, the names of which, inevitably, find their way into the media, where they are dissected and debated by his allies and critics alike. Mr. Obama’s summer choices have included Daniel Woodrell’s “The Bayou Trilogy” and Ward Just’s “Rodin’s Debutante” in 2011 and Jonathan Franzen’s “Freedom” in 2010. For authors, the presidential imprimatur provides priceless publicity. “Freedom,” in particular, caught a wave. At the time of Mr. Obama’s visit to Martha’s Vineyard in 2010, the novel had yet to be officially released, but Mr. Obama obtained an early copy from the store, adding to the book’s cachet and, as Politico’s Karin Tanabe wrote, setting the “Web atwitter.” The book shot up the best-seller lists. Only Oprah, it seems, provides a bigger sales bump. Read more of this post

The wit and wisdom of Isaiah Berlin; How the cold war shaped the great philosopher’s thinking – and tested his integrity

August 9, 2013 7:06 pm

The wit and wisdom of Isaiah Berlin

By Duncan Kelly

How the cold war shaped Isaiah Berlin’s thought – and tested his integrity

Building: Letters 1960-1975, by Isaiah Berlin, edited by Henry Hardy and Mark Pottle, Chatto RRP£40/Random House UK RRP$59.95, 704 pages

Isaac and Isaiah: The Covert Punishment of a Cold War Heretic, by David Caute, Yale £25/$35, 336 pages

A Mind and its Time: The Development of Isaiah Berlin’s Political Thought, by Joshua Cherniss, OUP £60/$110, 288 pages

By the 1960s Isaiah Berlin was assured in his fame, a shining star in an unusually cosmopolitan academic and cultural firmament. His professorship at All Souls in Oxford, where he held the chair in social and political theory, was only one, rather small component of his life. Berlin was globally connected, particularly in Washington, where he had worked in the British embassy during the war, and he would reap rewards from his numerous networks in the decades that followed. Friends in the Ford Foundation secured him the funding, matched by the British businessman Leonard Wolfson, for the construction of a new graduate college in Oxford in 1965, which he served as the first president. Wolfson College is a tremendous legacy and a fitting monument to a life whose achievements were recognised across continents. In Building, a new and weighty volume of letters written between 1960 and 1975, all of Berlin’s characteristic gifts are on display – as well as some of his darker moments. Already, he was looking back, drawing the threads of his intellectual preoccupations together. Writing in 1969 (after turning 60) to the painter Dorothea Head, he laments the aimless “dashing about” of the day’s secure and prosperous youth, and reflects on the pressures faced by his own generation. “We feared something: war, economic collapse, totalitarianism. But ennui is worse.” Read more of this post

Starbucks chief Howard Schultz steps into JC Penney fight, saying hedge fund manager Bill Ackman is a “destroyer of companies”; “Bill Ackman has blood on his hands for being the one who brought Ron Johnson in”

Last updated: August 9, 2013 8:19 pm

Starbucks chief steps into JC Penney fight

By Barney Jopson and Dan McCrum in New York

Howard Schultz, chief executive of Starbucks, has accused the hedge fund manager Bill Ackman of being a “destroyer of companies” as he stepped into a fight between the investor and the struggling retailer JC Penney. Mr Schultz, one of America’s best-known businessmen, spoke out after Mr Ackman, a JC Penney board member, wrote a letter urging fellow directors to find a new chief executive quickly and released it to the media. “I thought it was disgusting,” Mr Schultz told the Financial Times, accusing Mr Ackman of bypassing established governance procedures. “When I saw what happened [on Thursday] . . . I’m distraught.” Read more of this post

Simplify Your Tech Life,Thoreau-Style; Even an avowed naturalist would have a hard time totally unplugging today. Here’s how to take refuge from banal Facebook posts and incessant phone alerts without retreating to a tiny cabin in the woods

August 9, 2013, 5:49 p.m. ET

Simplify Your Tech Life,Thoreau-Style

Even an avowed naturalist would have a hard time totally unplugging today. Here’s how to take refuge from banal Facebook posts and incessant phone alerts without retreating to a tiny cabin in the woods

MICHAEL HSU

YOU MAY NEVER HAVE READ“Walden,” but you’re probably familiar with the premise: a guy with an ax builds a cabin in the woods and lives there for two years to tune out the inessential and discover himself. When Henry David Thoreau began his grand experiment, in 1845, he was about to turn 28—the age of a typical Instagram user today. Thoreau lived with his parents right before his move. During his sojourn, he returned home to do laundry.

“In proportion as he simplifies his life, the laws of the universe will appear less complex, and solitude will not be solitude, nor poverty poverty, nor weakness weakness.”

—Henry David Thoreau, 1854 Read more of this post

NYC parents hire toddler training experts at $450 an hour in battle for elite school places where four-year-olds must attend a playgroup where they are tested by teachers for academic ability and their social and emotional IQ

August 8, 2013 5:07 pm

The serious side of child’s play

By Emma Jacobs

Bribing toddlers can be counter-productive, according to Vanessa. Instead, the 28-year-old coaches her young charges how to play together – for $450 an hour. After all, play dates are no trivial matter. They can decide a child’s future. Vanessa, who declines to give her last name, is one of a new breed of play date experts that help children prepare for admission to New York’s elite kindergartens. As part of the admission process to these schools that charge up to $40,000 a year, four-year-olds must attend a playgroup where they are tested by teachers for academic ability and their social and emotional IQ. Read more of this post

Paul Graham: How to Convince Investors

How to Convince Investors
Paul Graham
August 2013
(This is one of a pair of essays on fundraising. The next one, on fundraising tactics, is coming soon.)
When people hurt themselves lifting heavy things, it’s usually because they try to lift with their back. The right way to lift heavy things is to let your legs do the work. Inexperienced founders make the same mistake when trying to convince investors. They try to convince with their pitch. Most would be better off if they let their startup do the work—if they started by understanding why their startup is worth investing in, then simply explained this well to investors. Investors are looking for startups that will be very successful. But that test is not as simple as it sounds. In startups, as in a lot of other domains, the distribution of outcomes follows a power law, but in startups the curve is startlingly steep. The big successes are so big they dwarf the rest. And since there are only a handful each year (the conventional wisdom is 15), investors treat “big success” as if it were binary. Most are interested in you if you seem like you have a chance, however small, of being one of the 15 big successes, and otherwise not. [1]
(There are a handful of angels who’d be interested in a company with a high probability of being moderately successful. But angel investors like big successes too.)
How do you seem like you’ll be one of the big successes? You need three things: formidable founders, a promising market, and (usually) some evidence of success so far. Read more of this post

Smart Leaders Have Protégés

Smart Leaders Have Protégés

by Sylvia Ann Hewlett  |   9:00 AM August 9, 2013

Just how important protégés are to a powerful person was made clear to me by this question, told to me by a Fortune 100 CEO. When choosing his direct reports, he asks: “How many blazing talents have you developed over the years and put in top positions across the company, so that if I asked you to pull off a deal that involved liaising across seven geographies and five functions, you’d have the bench strength — the people who ‘owe you one’ — to get it done?” Read more of this post

Lee Kuan Yew: 1Malaysia campaign may be unrealistic

Lee Kuan Yew: 1Malaysia campaign may be unrealistic

Saturday, August 10, 2013 – 15:31

Isabelle Lai

The Star/Asia News Network

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PETALING JAYA – Malaysians hoping that Barisan Nasional’s 1Malaysia concept can usher in a new era for race relations may be unrealistic, but those counting on the Opposition to do the same are not very much less so, said Lee Kuan Yew. The former Singapore Prime Minister said that Datuk Seri Najib Tun Razak’s 1Malaysia campaign, launched in 2008 to win back support from Chinese and Indian voters, had not lived up to the excitement it created. Read more of this post

Richard Branson Explains The Most Important Thing Every Good Boss Should Do

Richard Branson Explains The Most Important Thing Every Good Boss Should Do

JULIE BORT AUG. 9, 2013, 8:57 PM 3,749

Earlier this week, Richard Branson and Elon Musk, two of the world’s most daring and successful entrepreneurs, offered advice via a Google Hangout. That was cool, but Richard Branson, founder and chairman of Virgin Group, has been offering fantastic advice to business people for years. We just found this YouTube of him from 2011 where he explains the most important thing every manager should do: praise people. He then tells an amazing story of how he almost went instantly bankrupt when his bank manager came to his house and called all his loans. Moral of the story is don’t be afraid to change banks (and it’s good to have wealthy friends). But it also underscores that in order to succeed, you have to live with the risk of failure because no matter how  successful you are, failure is always a possibility.

Jeff Bezos Will Walk Out Of A Meeting If You Don’t Get To The Point

Jeff Bezos Will Walk Out Of A Meeting If You Don’t Get To The Point

VIVIAN GIANG AUG. 9, 2013, 10:47 AM 14,307 16

Reuters

Jeff Bezos won’t waste any time in a meeting with you if he doesn’t fully understand where the conversation is going or how it will make Amazon better. Craig Timberg and Jia Lynn Yang write about Bezos’ demanding management style in The Washington Post: “In the relentlessly efficient world of Jeffrey P. Bezos, Amazon employees quickly learn when they have overtaxed the attention of their chief executive. He quietly pulls out his smartphone and starts replying to e-mails. In extreme cases, Bezos will walk out.” Nadia Shouraboura, formerly a part of Bezos’ senior executive team tells Timberg and Yang that you “better be ready” if you have a meeting with Bezos. “He will figure out something you haven’t thought of … If you haven’t thought through exactly how to delight our customer, that’s a bad thing.”

Jeff Bezos, The Post’s incoming owner, known for a demanding management style at Amazon

By Craig Timberg and Jia Lynn Yang, Published: August 8

In the relentlessly efficient world of Jeffrey P. Bezos, Amazon employees quickly learn when they have overtaxed the attention of their chief executive. He quietly pulls out his smartphone and starts replying to e-mails. In extreme cases, Bezos will walk out. Read more of this post

Cactus Needles Inspired A Super-Efficient New Way To Clean Up Oil Spills

Cactus Needles Inspired A Super-Efficient New Way To Clean Up Oil Spills

ROBERT FERRIS AUG. 9, 2013, 2:25 PM 1,187 1

screen shot 2013-08-07 at 5.00.21 pm

Scientists may have just invented an amazing new way to clean up oil spills by mimicking the ingenious physics of cactus needles. Cactus needles are not just for warding off animals trying get a taste of the plant’s moist flesh. They also use a trick from physics to help them draw water from the air to keep the plant hydrated in its harsh desert environment. Cactus needles are shaped like cones with — as many unfortunate victims have found — a sharp tip facing outward. The spines widen as they get closer to the body of the plant. Read more of this post

It’s So Hot In Shanghai That People Are Camping Out In Air Conditioned Subway Stations

It’s So Hot In Shanghai That People Are Camping Out In Air Conditioned Subway Stations

ADAM TAYLOR AUG. 9, 2013, 3:15 PM 2,083 1

Almost 400 people have been camping out a Shanghai Metro station, making use of the air conditioning that many don’t have at home, Shanghaiist reports, hoping to beat a horrible heatwave that has hit the city. Looking at pictures, the people at Xingzhong Road station appear to have planned ahead, bringing cardboard and sheets to lie on. Amazingly, the station seems to be pretty cool about it — though a Shanghai Metro spokesperson did ask that those enjoying the A/C refrain from drinking, smoking or playing cards. It may seem like extreme behavior, but the weather may well merit it. The Washington Post’s Capital Weather Gang reports that Shanghai saw its hottest July in 140 years, with temperatures soared to 100ºF or higher for 10 straight days between July 23 and August 1. All across China’s east record temperatures are being set. These photos, shared to Weibo, capture the scene:

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Property confiscated from some of Sicily’s notorious criminals is being used to build a growing ethical tourism business

August 9, 2013 3:24 pm

In the mafia’s footsteps

By Kabir Chibber

Property confiscated from some of Sicily’s notorious criminals is being used to build a growing ethical tourism business

Ayoung Alexis de Tocqueville, just 22 and travelling around Sicily in the 1820s, wrote: “One is surprised, after crossing in almost complete isolation for eight or ten hours, to enter suddenly in a town of twenty thousand souls, without a highway, with no noise to proclaim your arrival.” These days, little has changed. About an hour from Palermo, the tiny town of San Giuseppe Jato suddenly appears from nowhere after a succession of rolling hills that reach out into the distance. The town is the base of Francesco Galante and the team at Libera Terra, a loose web of Italian co-operatives and non-profit organisations dedicated to fighting the mafia. At any given time, this ragtag bunch of agronomists, labourers and student volunteers can be found drinking espresso in industrial quantities in their office above a petrol station, while building a small ethical tourism empire from lands seized by the state from the Cosa Nostra. They now run vineyards, farms and guest houses throughout Sicily. Read more of this post

End of QE will drive a bond sell-off to remember; Debt losses will accelerate as equity markets gradually accept Fed taper

August 9, 2013 11:52 am

End of QE will drive a bond sell-off to remember

By Michael Mackenzie in New York

Debt losses will accelerate as equity markets gradually accept Fed taper

Bond investors hurt by this summer’s interest rate turmoil may be surprised to find the damage was small by previous standards. The rapid rise in bond yields from May fails to crack the top 10 list of fixed income routs for the past 50 years, according to Liberty Street Economics, a website that publishes research from economists at the Federal Reserve Bank of New York.* Of the 15 largest bond market debacles since 1961, this year’s interest rate shock ranks at number 13, based on the economists’ criteria for defining such events. Before fixed income investors take umbrage at such a lowly ranking for the hefty losses they have just experienced, Liberty Street has not yet called time on this year’s stampede out of bonds. Just like a sleeper song or film, the bond market’s current affliction could climb further up the hit parade, with September delivering another employment report and a Fed policy meeting that could well launch a reduction, or taper in the central bank’s $85bn of monthly bond buying. Read more of this post

Investors shun advice as costs are laid bare; Financial advisers are being forced to spell out their charges and many customers think they are too high

Investors shun advice as costs are laid bare

Financial advisers are being forced to spell out their charges and many customers think they are too high.

Richard Mills: ‘I was paying commission to the adviser and not really getting anything for it.’ 

By Richard Dyson

7:45AM BST 10 Aug 2013

Now that consumers can see more clearly how much they pay for financial advice, many no longer want it. One in three investors who have taken financial advice in the past five years says they will never consider paying for the service again. These findings – part of an authoritative survey into thousands of investors’ intentions – emerge just six months after new rules were introduced requiring financial advisers to declare their charges explicitly to clients, rather than receiving payment in the form of commissions. Read more of this post

City of London Investment Trust, one of the oldest and largest generalist investment trusts, said this week it would remove its performance fee and charge only a management fee, prompting analysts to predict that more would follow

August 2, 2013 6:31 pm

Trust performance fees axed

By Jonathan Eley

City of London Investment Trust, one of the oldest and largest generalist investment trusts, said this week it would remove its performance fee and charge only a management fee, prompting analysts to predict that more would follow. Henderson, which manages the trust, said it hoped the move would make it “more attractive to a wider audience of retail investors.” The annual management fee will henceforth by 0.365 per cent and the ongoing charges in respect for this year should be around 0.45 per cent – less than some tracker funds. Read more of this post

Buffett-Like Buyers Seen Lured to Hanesbrands

Buffett-Like Buyers Seen Lured to Hanesbrands: Real M&A

Boxers and bras may be next on the shopping list for private-equity buyers with Hanesbrands Inc. (HBI) offering one of the cheapest valuations in the retail industry.

The underwear maker’s $6.2 billion market value is 12 times its free cash flow from the past year, lower than all but two similar-sized U.S. apparel companies, according to data compiled by Bloomberg. While Warren Buffett’s Berkshire Hathaway Inc. has 43 percent of the U.S. industry through brands including Fruit of the Loom, suitors would get a second-place share of 19 percent by buying Hanes, data compiled by IBISWorld Inc. show. Read more of this post

Prepping for a bank bailout in China; China to let banks sell off loans in bid to tackle debt overhang

Prepping for a bank bailout in China

Izabella Kaminska

| Aug 09 16:01 | 5 comments | Share

A very intriguing little exclusive from Reuters on Friday:

(Reuters) – China is developing a new trading platform to enable banks to sell off loans to a wider range of investors, in a move that could pave the way for a government bailout of lenders or distressed asset sales to private investors. The trading platform, now in the testing phase, is designed to introduce banks to a new class of investors, including non-bank financial institutions and large companies. Currently, the lack of well-established precedents for asset disposals effectively leaves banks only two options: sell non-performing loans in private deals, mostly with big state-backed asset management firms, or keep rolling them over indefinitely to avoid booking a loss. Read more of this post

China’s Gleaming Ghost Cities Draw Neither Jobs Nor People

August 8, 2013, 11:02 p.m. ET

China’s Gleaming Ghost Cities Draw Neither Jobs Nor People

DINNY MCMAHON

P1-BM630_CURBAN_G_20130808195233 P1-BM632_CURBAN_G_20130808195321

China seeks economic gain through urbanization, but when one city, Tieling, built a whole new city nearby, it drew few residents. Urban planners spent millions of yuan to clean up surrounding marshland in this small city in northeastern China. Four years later, Tieling New City is virtually a ghost town.

TIELING, China—When this small city in northeastern China launched a plan to build a satellite city 6 miles down the road, it got off to a promising start. Urban planners spent millions of yuan to clean up surrounding marshland that had become a dumping ground for the city’s untreated sewage. A pristine environment, they hoped, would help attract the businesses that would raise incomes and swell the population. Four years later, Tieling New City is virtually a ghost town. Read more of this post

State Firms Cloud Chinese Growth Hopes

August 9, 2013, 3:22 p.m. ET

State Firms Cloud Chinese Growth Hopes

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BEIJING—China added to its growing string of evidence of an economic rebound Friday with strong industrial-production figures, but the good news masked problems in its sprawling state sector that is increasingly seen as a major drag on growth. Factory output rose 9.7% in July from a year earlier, up from the June figure of 8.9%. Those results, taken together with strong trade numbers a day earlier, increasingly suggest the worst of the China’s slowdown is over. But the same data show that state-owned firms grew barely half as much as private firms—up 5.6% from 2012 for the year so far, compared with 10.9% for private firms. And all of the figures appear boosted by massive lending, which was up strongly in the first half before falling back in July. The recent decline in lending followed a cash crunch, engineered by China’s leaders to draw a line under spiraling credit. Read more of this post

This is how Samsung’s “Galaxy Gear” looks like!

013-08-09 14:09

This is how Samsung’s “Galaxy Gear” looks like!

By Ko Dong-Hwan

Samsung Smartwatch

galaxy-watch-gear-2-450 galaxy-watch-gear-3-450 Read more of this post

Chinese tech startup unveiled smartwatch inWatch One with a price tag of $292

Chinese tech startup unveiled smartwatch inWatch

Updated: 2013-08-09 17:09

( technode.com)

0023ae606c3e136ef37d0f Read more of this post

Why the US is turning into a subscription-based economy

Why the US is turning into a subscription-based economy

By Gina Chon @GinaChon August 9, 2013

Rapid changes are taking place in the way people buy things, and companies are reacting accordingly. Increasingly, the US is moving toward a subscription-based economy in which firms will focus less on selling things, and more on gaining recurring customers—a trend seen in companies like Netflix, Zipcar and Spotify. That’s according to Tien Tzuo, an evangelist for the subscription-based economy who built his startup, Zuora, around that philosophy.

Tzuo is CEO of Zuora, a cloud-based billing and finance software company that caters to companies with recurring revenue streams. Tzuo got his training from Salesforce.com, the cloud-based customer management software company, as its 11th employee and was with the firm through its IPO in 2004. Salesforce.com founder Marc Benioff is an investor in Zuora. The name Zuora, by the way, came out of a bag of Scrabble letters used to spell the founders’ last names. The founders pulled from the bag and fiddled with the letters until settling on a URL they liked. The name seemed exotic, says Tzuo, until Quora, the crowdsourced Q&A site, popped up in 2009. Read more of this post

Is beauty subscription e-commerce Asia’s next hot trend?

Is beauty subscription e-commerce Asia’s next hot trend?

August 6, 2013

by Anh-Minh Do

It is well known that women are among the most voracious and influential online groups. They’re online more often, and they are avid purchasers. In Asia, that’s especially true with women, where female web users are making, in every country, more than 60 percent of their online purchases on fashion. That’s right, fashion dominates online spending for women. With stats like these, it’s no wonder that fashion e-commerce in general is taking off. Another specific new niche, beauty subscription e-commerce, is peeking over the horizon. Currently, we’re seeing beauty subscription e-commerce sites emerging from South Korea, where Memebox, which has just over 100,000 users, has generated up to $2 million in revenue. And those guys are headed to Thailand next. In other news, Singapore’s VanityTrove has acquired Vietnam’s Glamyboxand Taiwan’s Glossybox. In Indonesia, Lolabox and BeautyTreats are battling it out with new entrant VanityTrove. In China, there’s MyLuxBox with over 10,000 paying subscribers. In other words, beauty subscription is a huge regional trend, chasing after female e-shoppers. Read more of this post

China dream sours for foreign companies

August 9, 2013 11:44 am

China dream sours for foreign companies

By Tom Mitchell in Beijing

The “Chinese dream” articulated by China’s new president, Xi Jinping, is fast becoming a nightmare for some of the world’s most powerful corporations. Mr Xi’s speech, on his accession to the presidency in March, hinted at a more assertive approach to match China’s economic power – and since then, government investigations and state media exposés targeting foreign investors have become a regular feature of the country’s business landscape. Public officials say this simply reflects broader efforts to tackle bad practice, but some executives complain that foreign groups appear to be encountering particularly heavy scrutiny under the new leadership. Read more of this post

China’s Credit Expansion Slows as Li Curbs Shadow Banking

China’s Credit Expansion Slows as Li Curbs Shadow Banking

By Bloomberg News  Aug 9, 2013

China’s broadest measure of new credit fell to a 21-month low as Premier Li Keqiang extended a campaign to curb a record expansion of lending that’s added dangers to the nation’s financial system. Aggregate financing was 808.8 billion yuan ($132 billion), the People’s Bank of China said in Beijing yesterday, compared with the 925 billion yuan median estimate of analysts surveyed by Bloomberg News. New yuan loans exceeded forecasts and accounted for about 87 percent of the total, the most since September 2011. M2 money supply growth unexpectedly accelerated to 14.5 percent. Read more of this post

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