What do millionaires regret? Super successful business bosses reveal the things they would change if they could

What do millionaires regret?

February 12, 2014

Caroline James

Super successful business bosses reveal the things they would change if they could.

Every businessperson makes mistakes. David Yuile’s cost him $1.3 million in a day. Read more of this post

What do millionaires regret? Super successful business bosses reveal the things they would change if they could

What do millionaires regret?

February 12, 2014

Caroline James

Super successful business bosses reveal the things they would change if they could.

Every businessperson makes mistakes. David Yuile’s cost him $1.3 million in a day.

The chief executive of telecommunications company AAPT jointly started a CRM consultancy in London in the mid-1990s. Read more of this post

Seeking Their Fortune: The Career Path for Top Executives in Big Companies

Seeking Their Fortune: The Career Path for Top Executives in Big Companies

Feb 11, 2014

Executives in the highest ranks of management have become increasingly diverse in recent years, and the number of lifelong employees has continued to decline. At the same time, the recession has “reversed two key trends, increasing both average age and length of tenure. Read more of this post

Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading

Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading

Tyler Durden on 02/12/2014 11:09 -0500

Ordinarily we would ignore the news of another banker’s death – after all these sad events happen all the time – if it wasn’t for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the very young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan – a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based employees committed suicide by jumping from the top floor of its Canary Wharf building. Third: Crane was an Executive Director in JPM’s Global Program Trading desk, founded in 1999 by an ex-DE Shaw‘er, a function of the firm which is instrumental to preserving JPM’s impeccable and (so far in 2013) flawless trading record of zero trading losses. Read more of this post

5 Famous Entrepreneurs Who Learned From Their First Spectacular Failures; Feeling like a failure? So did these entrepreneurs–before they went on to revolutionize their industries.

5 FAMOUS ENTREPRENEURS WHO LEARNED FROM THEIR FIRST SPECTACULAR FAILURES

FEELING LIKE A FAILURE? SO DID THESE ENTREPRENEURS–BEFORE THEY WENT ON TO REVOLUTIONIZE THEIR INDUSTRIES.

BY STEPHANIE VOZZA

Most new businesses fail–that means most entrepreneurs and CEOs fail right along with them. What makes one person pack up his desk and go home while another shakes it off and tries again? Read more of this post

Why The New York Times Hired A Biology Researcher As Its Chief Data Scientist

 WHY THE NEW YORK TIMES HIRED A BIOLOGY RESEARCHER AS ITS CHIEF DATA SCIENTIST

TO HELP MAKE SENSE OF THE MASSIVE TROVES OF DATA PRODUCED BY PEOPLE CLICKING AROUND ITS WEBSITE, THE TIMES MADE A (VERY) NONTRADITIONAL HIRE–CHRIS WIGGINS, A BIOLOGY RESEARCHER WITH A PHD IN THEORETICAL PHYSICS. IF YOU CAN MAP THE HUMAN GENOME, MAYBE YOU CAN EVEN FIX JOURNALISM.

BY REBECCA GREENFIELD

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It doesn’t come as a huge surprise that the New York Times has hired a chief data scientist. Even 162-year-old media companies know that technology will play a huge role in the future of journalism. And, despite its age, the Times hasn’t shied away from digital innovation. What’s surprising, however, is that the new hire, Chris Wiggins, has spent the last 10 years steeped in biology research. Read more of this post

The omnipresent craft: Graft

The omnipresent craft: Graft

Wednesday, February 12, 2014 – 09:00

Nayan Chanda For The Straits Times

The Straits Times

GLOBALISATION has been facing strong headwinds as a result of anti-immigrant and anti-free trade pressures.

Now, a third issue challenging the benefits of global connectedness is taking centre stage in many countries: corruption. Globalisation does not cause corruption. Read more of this post

China to crack down on fake data ‘corruption’: Statistics chief

China to crack down on fake data ‘corruption’: Statistics chief

Wednesday, February 12, 2014 – 17:09

Reuters

BEIJING – China will step up efforts to investigate and punish any cases of falsified statistics, the country’s chief statistician said in remarks published on Wednesday, highlighting the issue of reliability of Chinese data. Read more of this post

DIY publishers break out in Korea

DIY publishers break out in Korea

Wednesday, Feb 12, 2014

Kate Bolster

The Korea Herald/Asia News Network

KOREA – The difficulty of finding a voice in a country that doesn’t speak her language is all too familiar to Doria Garms-Sotelo.

The aspiring journalist, whose husband is in the US Army, has called Korea home for the past nine years. She has used that time to hone her writing skills and complete a book on a topic that is close to her heart. Read more of this post

Expert on quest to find out secrets of successful leaders

Expert on quest to find out secrets of successful leaders

Wednesday, Feb 12, 2014

Mok Fei Fei

The Straits Times

High-octane conversations with Wall Street players or the wielders of power in the White House are all in a day’s work for leadership expert D. Michael Lindsay. Read more of this post

China think-tanks rising in numbers

China think-tanks rising in numbers

Wednesday, February 12, 2014 – 03:00

Esther Teo

China Correspondent In Beijing

The Straits Times

MR LI Fan was initially worried that a two-day seminar on democracy he was organising in Beijing last December might run into trouble with the authorities due to its sensitive topic. To his surprise, the event ran smoothly. Read more of this post

Whatever Happened to ‘Every Man a King’? How we can “make haves out of the have-nots without taking it away from the haves.”

Whatever Happened to ‘Every Man a King’?

FEB. 11, 2014

Thomas B. Edsall

A passionate group of labor economists has taken up a cause championed 40 years ago by the lateSenator Russell Long of Louisiana: to turn every worker into a capitalist.

Long, the chairman of the Senate Finance Committee from 1966 to 1981, inherited a populist commitment from his father, Huey Long, the Louisiana governor who famously campaigned on the slogan “Every Man a King.” Read more of this post

Vast Study Casts Doubts on Value of Mammograms; A 25-year study involving 90,000 women has found that the breast-cancer screenings did not lower the death rate from the disease and had harms

Vast Study Casts Doubts on Value of Mammograms

By GINA KOLATAFEB. 11, 2014

One of the largest and most meticulous studies of mammography ever done, involving 90,000 women and lasting a quarter-century, has added powerful new doubts about the value of the screening test for women of any age. Read more of this post

NYSE Is Still No. 1, But Not By Much; In its 13-year history, ICE has built a sprawling global empire of derivatives exchanges and clearinghouses. It grew through acquisitions, transforming legacy institutions with technology

NYSE Is Still No. 1, But Not By Much

BRADLEY HOPE

Feb. 11, 2014 7:31 p.m. ET

The venerable New York Stock Exchange is hanging by a thread to its place as the country’s top trading venue as measured by volume. Its new head’s response: He doesn’t care.

IntercontinentalExchange ICE +2.06% Chief Executive Jeffrey Sprecher’s attitude toward market share, expressed on an earnings conference call Tuesday, is an early glimpse of the type of big changes expected as he puts his stamp on the iconic Big Board. That comes three months after ICE took over the NYSE’s parent company for more than $8 billion. Read more of this post

Smart Home Hubs: A Brain for Your House; Three home controllers allow users to program different devices via phone

Smart Home Hubs: A Brain for Your House

Three home controllers allow users to program different devices via phone

GEOFFREY A. FOWLER

Updated Feb. 11, 2014 8:57 p.m. ET

Dear house: When I wake up, please turn on the lights, crank up the heat, play some tunes and brew my coffee.

Who hasn’t dreamt of a house that can take orders? Austin Powers’s bed rotates and plays bossa nova at his command. Wallace and Gromit, the animated Englishman and his dog, live in a house that can wake you, drop you into pants and spread jam on your toast—though it never quite works as designed. Read more of this post

As high-speed stock traders push to trade ever faster, their newest move involves harnessing a technology that U.S. military jets use to communicate as they soar across the sky: lasers.

High-Speed Stock Traders Turn to Laser Beams

Anova to Use Laser Devices for Fast Communication of Market Data

SCOTT PATTERSON

Feb. 11, 2014 11:00 p.m. ET

As high-speed stock traders push to trade ever faster, their newest move involves harnessing a technology that U.S. military jets use to communicate as they soar across the sky: lasers. Read more of this post

Distortions galore make China’s trade data an unhelpful indicator of the broader economy

Stay Away From China’s Trade

ALEX FRANGOS

Feb. 12, 2014 2:37 a.m. ET

Markets were girding for another negative Chinese economic data point. Instead what they got was more distortion.

China reported exports in January unexpectedly jumped 10.6% compared with a year earlier, accelerating from December’s pace. It was a sign that the positive export momentum seen since the middle of last year is continuing. Imports rose a similar amount, indicating that China’s domestic industrial-construction complex is still hungry for raw materials. The Australian dollar, seen as a proxy for Chinese resource demand, predictably rose on the news. Read more of this post

Australia Manufacturers Forced to Look Beyond Big Auto Makers

Australia Manufacturers Forced to Look Beyond Big Auto Makers

RHIANNON HOYLE And ROSS KELLY

Feb. 11, 2014 7:38 a.m. ET

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Tony Abbott, then leader of the Australian opposition, sat in the driver’s seat of a locally made Toyota on Aug. 30 in Melbourne, Australia. Lisa Maree Williams/Getty Images

Brake-maker Peter O’Connor is remarkably upbeat amid the doom that has descended on Australia’s auto industry after Toyota Motor Corp. 7203.TO +0.43% said it would stop producing cars in the country. Read more of this post

‘Markets will decide’ on ailing firms; Beijing will allow some financial institutions to close or go bankrupt so long as the overall financial situation is under control, a state councillor said.

‘Markets will decide’ on ailing firms
Ling Wang
Wednesday, February 12, 2014
Beijing will allow some financial institutions to close or go bankrupt so long as the overall financial situation is under control, a state councillor said.

Speaking at forum in Beijing, Xia Bin said that it is difficult to balance between continuing reform and contain systemic risks that it had brought. He stressed that if poor assets remained in corporations and banks, then the economic system could never be healthy. Read more of this post

Australia Readies More Than $100 Billion in Asset Sales

Australia Readies More Than $100 Billion in Asset Sales

Treasurer Joe Hockey Flags Sale of Transport Networks, Health Insurers, Utilities to Help Plug Budget Shortfall

ROB TAYLOR And DAVID WINNING

Updated Feb. 12, 2014 3:34 a.m. ET

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Joe Hockey gestures as he speaks during a presentation in Canberra, Australia, on Dec. 17, 2013.Bloomberg News

CANBERRA, Australia—Australia is readying a plan to sell potentially 130 billion Australian dollars (US$117.49 billion) in assets ranging from health insurers to electricity poles, hoping to set an example to cash-strapped governments around the world that need new funds to boost their economies. Read more of this post

Google’s Roadmap to World Domination

Google’s Roadmap to World Domination

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“We want to paint the world, about one pixel to one inch.”–Luc Vincent, head of imagery for Google Maps

Welcome to the future:
Where your house keys will tell you they’re still on your desk at work
Your tools will remind you you loaned them to a friend
Your car will drive itself to retrieve both
(Google Promises a Self-Driving Car in 4 years)[1]
(Tesla in three)[1]

Location awareness will be built into everything
And maps will be the operating system (of everything)

Currently: 20% of all Google searches are ‘where’ queries.
Giving Google 70% of the ‘where’ query market
Location based services keep smartphones running.

Components of Google Maps(1)
(3)Trekker stitches together a digital world

15 virtual shutters snap every two seconds
Photos are melded into one 360 degree image
Tagged with Latitude and Longitude
—– 3 eight hour days with trekker down the Colorado river
Potentially yielded as many pictures as 20,000 yearly tourists visiting for 50 years.

Cameras like trecker are attached to Google’s self driving cars
25 of which have logged 600,000 miles in California.
Streetview has images in 1/4 of the world’s countries.

But it’s not an easy job, reconciling so many data sources:
Google has 2000 ground-truthers “driving” through cyberspace every day[1]:
Reconciling map data and street view data.

Google Map Maker allows users to submit changes, honing the map even more.

The acquisition of Waze presents Google with real time map updating technology.

Timeline of Google Maps(1)(2)(3)

2001– Larry Page taking pictures of San Francisco with a video camera mounted to the side of his car.
October 2004– Google acquires Where 2 Technologies, a company working on an early downloadable version similar to Google Maps.[4]
October 2004– Google acquires Keyhole, a geospatial data visualization company working on an early version of Google Earth.[3]
2004– Luc Vincent’s personal project (20% of Google employee time to devote to your own project) is Street View.
2005– Amazon’s search technology subsidiary A9.com unveils Block View, essentially Yellow Pages with storefront photos. Discontinued after 20 months.
2006–Microsoft’s Streetside debuts with photo rendering of two cities.
2007–Google’s Street View arrives in 5 cities.
2008– Google’s Oyster, or geographic database is greatly expanded with Geological srvey data, buying of data sources, and satilite imagery.
2009– Google Moon launched to commemorate 36th annivursary of moon landing.[5]
2011– Google Map Maker allows users to change maps, instead of waiting on GIS company data.
June 2012–Apple announces their own map service for iOS6.[2]
December 2012–Google announces a Google Maps app for iOS, immediately becomes most popular app in app store.[2]
May 2013–Google recognizes Palestine as a country, instead of redirecting to Palistinian Territories.[7]
2013– Google buys Waze, the social traffic app for close to $1 billion.
2013– Google releases Tactile in preview mode, the future of Google Maps with 3d rendering of whether and buildings.
January 2014–Google uploads 370,000 miles of Street View imagery, largest update ever.[6]

Google Maps API: the backbone of an industry(2)

Companies Built on Google Maps API
-AirBnB
-RedFin
-Uber
-RelayRides
-TaskRabbit
-Lyft
-NeighborGoods
And thousands of others.

In early 2012 Google started charging for companies using:
25,000 map related requests a day
For 90 consecutive days

99% API using sites unaffected
3,500 large business deeply affected:

Big Business Left:
Foursquare, on 6% of smartphones worldwide
Wikipedia
And Apple…

A rival was born
OpenStreetMaps: open source
Backed by:
Microsoft[2]
Hundreds of Thousands of individuals
Used by:
Craigslist, Geocaching, Mapquest, JMP Statistical Software, Apple

Overnight, 20% of the smartphone market, the iOS users left.
But were reclaimed several months later with an iOS Google Maps App.

Today: Open vs. Google
OpenStreetMaps is used by thousands of firms, including Apple and Foursquare.
(Started by mapping nerds several years ago, and enhanced by donations of satellite imagery from Apple.)

“Open” normally wins
Open Hardware > IBM Monopoly
Open Software > Microsoft Monopoly
???Open Data > Google Monopoly???

But doesn’t Google normally win, too?

 

Why Abercrombie Is Losing Its Shirt

2/9/14 at 9:00 PM

Why Abercrombie Is Losing Its Shirt

BY MATTHEW SHAER

The corporate headquarters of Abercrombie & Fitch, one of the largest apparel retailers in the world, spills across 500 acres of dense Ohio woodland, about fifteen miles from downtown Columbus. From the outside, the central office cluster resembles an Adirondack lodge as envisioned by a Brutalist—all hard lines and weather-beaten wood. Meals are served in a barn finished in rusted steel, and in the summer, companywide meetings are held in an exposed-concrete courtyard in front of a large fireplace. Read more of this post

Almost nobody believes China’s new batch of suspiciously awesome trade data

Almost nobody believes China’s new batch of suspiciously awesome trade data

By Lily Kuo @lilkuo 2 hours ago

The good news: Last month’s Chinese trade data is defying signs of a slowdown in the world’s second largest economy. The bad news: the improvement might be completely fraudulent. Read more of this post

Three things Bill Gates wishes he could have done 20 years ago

Three things Bill Gates wishes he could have done 20 years ago

By Max Nisen @MaxNisen February 10, 2014

The Bill Gates of 2014 is very different than the Gates of 1994. Then, his sole focus was building Microsoft into a software and technology behemoth. Now he’s only just stepping back into a prominent role after years focused on one of the world’s most significant charitable foundations. Read more of this post

Here’s why Alibaba is paying more than $1 billion for a mapping company

Here’s why Alibaba is paying more than $1 billion for a mapping company

By Lily Kuo @lilkuo February 11, 2014

Chinese e-commerce giant Alibaba made a bid on Feb. 10 for the 72% stake it doesn’t already own in AutoNavi, which operates China’s most popular mapping service. The all-cash deal values AutoNavi at $1.6 billion, up from the $1 billion valuation at which Alibaba acquired its initial stake in the firm last May. Read more of this post

What America’s most controversial clothing CEO can teach us about world trade

What America’s most controversial clothing CEO can teach us about world trade

By Tim Fernholz @timfernholz February 11, 2014

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Dov Charney, CEO of US clothing retailer American Apparel, does not have a great reputation. Whether it’s the employee harassment lawsuitsthe racy ads or that time he masturbated in front of a reporter, Charney’s over-the-top style has obscured his company, known for its pricey but not fancy clothes made in Los Angeles by workers earning more than minimum wage. Read more of this post

By September coding will be mandatory in British schools. What the hell, America?

By September coding will be mandatory in British schools. What the hell, America?

BY CARMEL DEAMICIS 
ON FEBRUARY 10, 2014

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The British Government just put America to shame by mandating a programming curriculum in all primary and secondary schools. The UK Department of Education has been fiddling with the idea for awhile, since deciding to scrap its traditional ICT (Information and Communication Technologies) curriculum almost two years ago. Read more of this post

Korean university grads face mounting tuition debt

University grads face mounting tuition debt

Feb 12,2014

Even with a nationwide effort from various government agencies to reduce the burden of college students’ tuition fees, young people must still repay an average of 14.5 million won ($13,631) in loans, about 300,000 won higher than last year. Read more of this post

Here she comes again: How Dolly Parton became one of the world’s richest entertainers

Fiona Smith Columnist

Here she comes again: How Dolly Parton became one of the world’s richest entertainers

Published 12 February 2014 08:53, Updated 12 February 2014 13:40

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Parton’s appearance has always been a selling point.Photo: MCT

One of the best decisions Dolly Parton ever made was to turn down The King. That’s right, she said “no” to Elvis Presley back in the 1970s, when he was keen to record one of her songs. Read more of this post

Toyota fires the starter gun on race for survival for car parts suppliers

Caitlin Fitzsimmons Online editor

Toyota fires the starter gun on race for survival for car parts suppliers

Published 11 February 2014 12:49, Updated 12 February 2014 08:53

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‘I think Australia needs to focus on what we’re good at, which is niche, high-quality manufacturing,’ says Tomcar founder David Brim. Photo: Luis Ascui

With Toyota joining the car manufacturing exodus, about 150 companies in the automotive supply chain face the ultimate test: diversify their business by 2017 or die trying. Read more of this post