Facebook turns off more than 1 million accounts a day as it struggles to keep spam, fraud and hate speech off its platform, its chief security officer says. Still, the sheer number of interactions among its 2 billion global users mean it can’t catch all “threat actors,” and it sometimes removes text posts and videos […]
Read moreFor nearly five years, Sam Altman, a self-made multimillionaire and president of top Silicon Valley start-up incubator Y Combinator, had to live with his three siblings as roommates thanks to San Francisco’s astronomical housing prices. “All of my siblings were living in my house in San Francisco because they couldn’t afford rent otherwise,” Altman tells […]
Read moreStart-ups valued at $1 billion or more used to be so rare that they were dubbed “unicorns.” Now, they number 215, according to CB Insights estimates. That’s no coincidence, according to LinkedIn co-founder Reid Hoffman, who spoke to CNBC’s Jon Fortt this week. Public markets have made it clear that a successful technology platform is […]
Read moreSeth Klarman is a value investing giant who draws comparisons to Warren Buffett and is one of the most successful hedge fund managers still working today. His firm has amassed $30 billion of assets under management through the end of 2016. But it’s hard to follow Klarman since he is so reclusive. The investor did, […]
Read moreThere’s a glut in venture capital money chasing tech start-ups these days, as investors search for the next Uber or Airbnb. One sign: the sheer number of investors who turned up for investors’ demo days hosted this week by Y Combinator (YC), Silicon Valley’s premiere start-up factory. Investors far outnumbered start-ups at the YC event […]
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IN CORPORATE America, “Trump” seems to be a dirty word, at least in public. After President Donald Trump seemed to equate the actions of white supremacists and their opponents in Charlottesville earlier this month, dozens of chief executives abandoned his advisory councils. Several organisations cancelled fundraising galas booked at Mr Trump’s Mar-a-Lago resort in Florida. […]
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WHEN America’s unemployment was last as low as it has been recently, in early 2007, wages were growing by about 3.5% a year. Today wage growth seems stuck at about 2.5%. This puzzles economists. Some say the labour market is less healthy than the jobless rate suggests; others point to weak productivity growth or low […]
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LEAVE it to the Americans to besiege European companies in August, when the entire continent is on holiday. It emerged this month that Corvex Management, an American hedge fund, had built up a $400m position in Danone, a French food giant. AkzoNobel, a Dutch paints-and-chemicals firm which has been under heavy fire from Elliott Advisors, […]
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WHEN the first printed books with illustrations started to appear in the 1470s in the German city of Augsburg, wood engravers rose up in protest. Worried about their jobs, they literally stopped the presses. In fact, their skills turned out to be in higher demand than before: somebody had to illustrate the growing number of […]
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IN MOTIJHEEL, the main business district in Bangladesh’s capital, Dhaka, an iron fence and terrible traffic divide two branches of the country’s oldest private bank—a “conventional” one and an Islamic one. Abdus Sattar, manager of the Islamic one, says that when he joined AB Bank, in 2005, his was “a loser branch”. Today, like most […]
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