The absence of SK Group Chairman Chey Tae-won is likely to have a significant impact on the nation’s third-largest conglomerate, leading to what could potentially be the longest management vacancy since the group’s establishment

SK Group’s future uncertain with Chey in jail

Stock prices rose despite risk

Mar 01,2014

The absence of SK Group Chairman Chey Tae-won is likely to have a significant impact on the nation’s third-largest conglomerate, leading to what could potentially be the longest management vacancy since the group’s establishment.
The Supreme Court on Thursday confirmed a four-year prison sentence for Chey, who was convicted of embezzling corporate funds for personal gain. Read more of this post

The only way to survive the years of struggle required to master something is to do what you love. You must develop the discipline to ignore the distractions of the modern era if you ever want to be great

FEBRUARY 28, 2014 by ERIC BARKER

Seduction, Power and Mastery: 3 Lessons From History’s Greatest Minds

What can we learn about human nature and the way the world works from reading history? This has been the territory of Robert Greene. Read more of this post

What More Than 630 Startups Have Taught Paul Graham

What More Than 630 Startups Have Taught Paul Graham

BY LAURA MONTINI

Y Combinator founding partner Paul Graham spoke recently at a conference, revealing more about why he’s leaving and what he’s learned. Read more of this post

The Rise And Future Of The New York Startup Ecosystem

The Rise And Future Of The New York Startup Ecosystem

Posted 20 minutes ago by Nick Beim (@NickBeim)

Like many who have been active in the New York startup ecosystem over the past decade, I am optimistic about its future. The last 10 years have seen an increasing number of startup successes in New York. Read more of this post

What Can Indian Startups Learn From The Facebook Acquisition That Didn’t Happen

What Can Indian Startups Learn From The Facebook Acquisition That Didn’t Happen

Posted 13 hours ago by Pankaj Mishra (@pankajontech)

Little Eye Labs was not the only acquisition Facebook was chasing in India last year. Salorix, a social media analytics startup that had raised $3.5 million in Series A from Inventus Capital Partners and Nexus Venture Partners in November 2011, was approached by Facebook in October last year. But by December, the acquisition talks were stalled. Read more of this post

More Taiwanese use Facebook per capita than anywhere else in world

More Taiwanese use Facebook per capita than anywhere else in world

CNA
March 1, 2014, 12:01 am TWN

TAIPEI — Facebook Inc.’s penetration rate in Taiwan is higher than in any other market in the world, an executive of the world’s largest social network said Thursday. Read more of this post

Achieving leadership greatness means leveraging luck and navigating between extremes, says INSEAD Professor of Entrepreneurship Morten Hansen

INSEAD’s Global Thought Leaders: Morten Hansen

Feb 28, 2014

Achieving leadership greatness means leveraging luck and navigating between extremes, says INSEAD Professor of Entrepreneurship Morten Hansen in an interview with INSEAD Knowledge. The transcript is below

Read more of this post

Warren Buffett’s annual letter: What investors will be looking for

Warren Buffett’s annual letter: What investors will be looking for

Josh Funk, Associated Press | February 28, 2014 5:29 AM ET
OMAHA, Neb. — Berkshire Hathaway Inc. investors will be looking for details of how the conglomerate performed and the best advice CEO Warren Buffett has to offer in his annual letter this Saturday. Read more of this post

WhatsApp and the Wild, Weird, Wacky World of Investing

WhatsApp and the Wild, Weird, Wacky World of Investing

26 FEB 2014 – VITALIY KATSENELSON

Recently, in a conversation with another investor, I referred to a company’s management as being “extremely honest.” I was corrected, that honesty is binary and cannot be described with an adjective — a person is either honest or not. Read more of this post

China Currency Plunges Most In Over 5 Years, Biggest Weekly Loss Ever: Yuan Carry Traders Crushed

China Currency Plunges Most In Over 5 Years, Biggest Weekly Loss Ever: Yuan Carry Traders Crushed

Tyler Durden on 02/27/2014 23:18 -0500

And just like that the Chinese yuan devaluation has shifted away from the merely “orderly.”

In the past few hours of trading, China, which as we reported two days ago has started intervening aggressively in the Yuan market (for the reasons why, read this), has seen its currency crash by nearly 0.9%, which may not seem like much, but is in fact the largest drop since December of 2008, and at last check was trading at around 6.18, even as the PBOC fixed the CNY reference rate 0.02% higher from the last official close to 6.1214, erasing pivot support point at 6.1346 and 6.1408.  Naturally this means that the obverse, the CNYUSD, has crashed to as low as 0.1620. Should this move sustain without reverting, this will be the biggest weekly loss ever! Read more of this post

Loss-saddled Sony to sell its Tokyo birthplace

Updated: Friday February 28, 2014 MYT 5:32:46 PM

Loss-saddled Sony to sell its Tokyo birthplace

TOKYO: Sony will sell properties at a prestigious Tokyo site where it had its headquarters for six decades, as the once world-beating firm struggles to improve its bottom line, reports said Friday. Read more of this post

China falls out of love with cash

February 28, 2014 4:22 am

China falls out of love with cash

By Patti Waldmeir and Simon Rabinovitch in Shanghai

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China is rapidly ditching the centuries-old habit of paying its bills with trunkloads of cash, and making the shift to virtual forms of payment faster than any other country on earth. Read more of this post

WhatsApp and Tesla set the scene for soaring valuations; Danger that valuations will touch off a wider euphoria

February 27, 2014 6:11 pm

WhatsApp and Tesla set the scene for soaring valuations

By Richard Waters

Danger that valuations will touch off a wider euphoria

It is often a sign of a bubble when analysts and commentators rush to explain away each new upward step in valuations – and then come up with expansive arguments to justify why prices should be even higher. Read more of this post

Higher Ed’s Illusions: Academics think their students are prepared for the workforce

Higher Ed’s Illusions

Academics think their students are prepared for the workforce.

Feb. 27, 2014 7:15 p.m. ET

For years, polling data has shown that Americans hold the U.S. Congress in low esteem, with the Members’ approval often sinking into the teens. So guess which American institution is on course to join them? It’s our colleges and universities. Congress at least admits it’s doing a poor job. The colleges don’t. Read more of this post

Missing at Mobile World Congress: Innovation

Missing at Mobile World Congress: Innovation

This Year’s Show Offered Another Cascade of Glass-Slab Devices That Varied in Size and, Maybe, Color

SAM SCHECHNER

Feb. 27, 2014 3:25 p.m. ET

Startups have taken over the old home of Mobile World Congress. Christopher Pommerening, a venture capitalist and organizer of the ‘Four Years From Now’ project, explains why he wants to get mobile startups and investors together in a single place. Read more of this post

For Some Retailers, Less Red Is New Black

For Some Retailers, Less Red Is New Black

Penney, Sears Reported More Losses Last Year, but Results Weren’t as Bad as Some Feared

DREW FITZGERALD and SUZANNE KAPNER

Feb. 27, 2014 7:19 p.m. ET

For some of the country’s weakest retailers, less red is the new black. Read more of this post

Baidu’s Search for Elusive Profit Growth

Baidu’s Search for Elusive Profit Growth

AARON BACK

Updated Feb. 27, 2014 11:41 a.m. ET

China’s online-search behemoth Baidu BIDU +3.48% is doing what it must to stay competitive. But in a theme Chinese Internet investors should get used to, profit growth isn’t going to be as bubbly as previously hoped.

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That was the company’s message to investors Thursday. Revenue surged by 50% from a year earlier in the fourth quarter while profits were flat, as expected. But in a conference call with analysts, Baidu Chief Financial Officer Jennifer Li dropped a bombshell, saying the company doesn’t expect any increase in profit this year as it continues to invest. Pity the analysts, who according to FactSet had optimistically forecast a 31% rise in 2014 net profit. Now they are asking where the money will be spent. Read more of this post

Copycat Business Model Generates Genuine Global Success for Start-Up Incubator

Copycat Business Model Generates Genuine Global Success for Start-Up Incubator

By MARK SCOTTFEB. 27, 2014

BERLIN — For Linio, think Amazon for Mexicans. For Zalora, think Zappos for Malaysians. For Easy Taxi, think Uber for Nigerians.

And for all of them, think Rocket Internet, a budding tech empire here in Germany’s capital. Read more of this post