Top Stories This Week: Nov 25 – Dec 1
1. Disruptions: Fliers Must Turn Off Devices, but It’s Not Clear Why
Millions of Americans who got on a plane over the Thanksgiving holiday heard the admonition: “Please power down your electronic devices for takeoff.”
And absolutely everyone obeyed. I know they did because no planes fell from the sky. No planes had to make an emergency landing because the avionics went haywire. No planes headed for Miami ended up in Anchorage. We were all made safe because we all turned off all our Kindles, iPads, iPhones, BlackBerrys and laptops, just as the Federal Aviation Administration told us to. Realistically speaking, I’m going to bet that a handful of people on each flight could not be bothered, or forgot to comply. Read More
2. The shocking truth about the crackdown on Occupy
US citizens of all political persuasions are still reeling from images of unparallelled police brutality in a coordinated crackdown against peaceful OWS protesters in cities across the nation this past week. An elderly woman was pepper-sprayed in the face; the scene of unresisting, supine students at UC Davis being pepper-sprayed by phalanxes of riot police went viral online; images proliferated of young women – targeted seemingly for their gender – screaming, dragged by the hair by police in riot gear; and the pictures of a young man, stunned and bleeding profusely from the head, emerged in the record of the middle-of-the-night clearing of Zuccotti Park. Read More
3. Facebook Targets Huge IPO [Video]
Facebook Inc. is inching closer to an initial public offering that it hopes will value the company at more than $100 billion, according to people familiar with the matter.
The social networking firm is now targeting a time frame of April to June 2012 for an initial public offering, said people familiar with the matter. The company is exploring raising $10 billion in its IPO—what would be one of the largest offerings ever—in a deal that might assign Facebook a $100 billion valuation, a number greater than twice that of such stalwarts as Hewlett-Packard Co. and 3M Co. Read More
4. Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. Read More
5. Startups Are Hard. So Work More, Cry Less, And Quit All The Whining
Suddenly everyone’s complaining about how unfair things are in Silicon Valley. How hard everyone has to work so darn hard, and how some people don’t get venture capital or a nice sale to Facebook or Google even though lots of other people are getting those things.
Silicon Valley is an unfair place, say all the headlines. The CNN racism documentary was just one piece of this. Another are the cries from the press that Zynga would actually consider renegotiating contracts with highly compensated employees no longer pulling their weight. Expect more articles soon about the woes of being asked to work hard at a startup. People are working so hard, they’re crying themselves to sleep! Read More