In: Start Ups
The 10 things not to do when pitching a venture capitalistJanuary 11, 2020
There’s a lot in the press these days about the behavior of some venture capitalists toward women entrepreneurs. The industry –…Read More
Bubbles, chasms and ‘dreaming the dream’ ― a top tech investor reveals its unconventional approach to picking winnersMarch 6, 2016
Coatue Management, the $10 billion long/short equity hedge fund led by “Tiger Cub” Philippe Laffont, is one of the most prolific investors in technology companies.
Speaking at the MIT Sloan Investment Conference on Friday, David Scully, a partner and the chief marketing officer of Coatue, shared some insights into how the fund thinks about making its tech investments.
Both Scully and Laffont have taught a class at MIT on tech investing in the past.
The fund's investment process isn't what you'd expect. In fact, it goes against some of the investing adages we're used to such as “buy low, sell high.”
“Perhaps the right way to think about this is not to buy low, but to buy high,” Scully said. “Now I say that partly only tongue-in-cheek because it turns out that a great way to find new trends and potential winners is to look at stocks that are expensive. We like to call that 'dreaming the dream' and we believe this kind of optimism is essential, especial..Read More
This $14-billion machine is set to usher in a new era of nuclear fusion powerMarch 6, 2016
The first and largest machine of its kind is currently under construction at the French scientific research center called Cadarache, which specializes in nuclear power research.
It's called ITER, Latin for “The Way,” and is expected to usher in a new era of nuclear fusion-powered electricity — something scientists and engineers have been working toward for over 40 years.
By fusing two forms of hydrogen, called deuterium and tritium, together, the machine would generate 500 megawatts of power. That's ten times more energy than it would require to operate.
Once completed, ITER would measure 100 feet in diameter and height, representing a new breed of nuclear fusion device. If it reaches its energy output goals, it will be the first machine of its kind to bridge the gap from fusion research in the lab to readily available fusion power for cities.
As of June 2015, construction costs for the machine exceeded $14 billion. But, in the end, experts say it will be worth it. After ..Read More
The 20 youngest self-made billionaires in the worldMarch 6, 2016
Some of the wealthiest, most successful entrepreneurs take decades to accumulate their fortunes — others strike gold very early on.
A recent report from Hurun, a Shanghai firm that releases yearly rankings and research about the world's richest people, rounded up the latter group of entrepreneurs: self-made billionaires under age 35.
Read on to see who made the list — and just how wealthy they are, as estimated by Hurun:
SEE ALSO: How old 15 self-made billionaires were when they earned their first billion
Evan Spiegel: 25
Residence: Los Angeles, California
Estimated wealth: $1.8 billion
At the ripe age of 25, the Snapchat CEO is the youngest billionaire in the world after launching the popular photo-sharing app with two of his former Stanford classmates.
John Collison: 26
Residence: San Francisco, California
Estimated wealth: $1 billion
The Harvard dropout cofounded Stripe, an online payment company, with his brother Patrick in 2011. The Irish-born brothers now live in San..Read More
The computer legend who invented email has diedMarch 6, 2016
Internet Hall of Famer Ray Tomlinson has died.
Tomlinson was the man who basically invented email as we know it today, including making the choice to use the “@” sign in an email address. He was 74.
Tomlinson invented email, a system where a user on one network could send a message to someone on another network, in 1971.
He proceeded to win many awards over his lifetime for email. But he couldn't say what the first email ever sent actually said.
When asked about it in an interview with The New York Times in 2009, Tomlinson explained, “I sent a number of test messages to myself from one machine to the other. The test messages were entirely forgettable and I have, therefore, forgotten them.”
On Saturday, the man widely recognized as the grandfather of the internet, Vint Cerf, tweeted the news that Tomlinson had passed away.
Very sad news: Ray Tomlinson has passed away. https://t.co/Ghi8B2m3IX
— vinton g cerf (@vgcerf) March 5, 2016
SEE ALSO: A famous IBM employee took he..Read More
Microsoft is trying to bring back the ’80s with its Windows 10 strategy (MSFT)March 6, 2016
Probably the smartest choice Bill Gates ever made came in 1980, when he decided not to hand over the copyright for Microsoft's first-ever operating system to IBM.
In 1980, IBM contracted a startup called Microsoft to deliver DOS, an operating system for its forthcoming IBM PC, on a tight deadline.
The IBM PC came out in 1981, and soon became a smash hit, surpassing the leading Apple II. A horde of competitors rushed to build their own “IBM Compatible” clones that could run all of the same software and use all of the same hardware upgrades.
But to build those IBM clones, they needed DOS. And if they wanted DOS, they needed to fork over cash to Microsoft. Microsoft kept the rights in lieu of royalties from IBM. DOS put Microsoft the very center of the PC revolution, even through the era of Windows, and even after IBM left the PC market, eventually selling off that business.
36 years later, it's been a long time since the IBM PC moment. And with the Apple iPhone and Google ..Read More
The US Air Force is willing to spend $738 million to solve one of America’s biggest rocket problemsMarch 6, 2016
For the last decade, Russian-made engines have been propelling US national security satellites into space.
While this has proven to be a good approach in the past, the time has come for a new breed of rocket engine that's American-made.
On Feb. 29, the US Air Force — who runs the national security launch missions — announced that it will invest up to $738 million to put an end to America's reliance on the Russian-made RD-180 rocket engines.
RD-180 engines currently power the Atlas V rocket, which is owned and run by the United Launch Alliance (ULA) aerospace company.
And over the last 10 years, the Atlas V has helped ferry expensive and sensitive national security payloads into space for the Air Force.
But in recent years, as political tensions grew between the US and Russia, ULA's use of the RD-180 engines has come under fire.
After the Crimean crisis in 2014, Congress called to permanently terminate the Air Force's reliance on Russian-made rocket engines by ..Read More
Join the BI team as a Research Associate for our subscription research service!March 6, 2016
Click here to apply for this position
We're hiring a hardworking Research Associate with strong research, writing, and analytical skills to help launch our London-based Fintech team, as part of our growing team at Business Insider Intelligence. Candidates will have 1 year of relevant work experience.
The ideal Research Associate will have a deep interest in tech news, have a combination of solid writing skills and analytical capabilities, and feel comfortable writing about and analysing a wide range of fintech-related topics.
This is a unique opportunity to help launch and define a new division of a fast-growing international research company and an excellent way to begin a research/data-oriented writing career in the rapidly growing fintech industry.
BI Intelligence is a fast-growing research service from Business Insider. BI Intelligence offers insights essential to companies making strategic decisions across the mobile, digital media, e-commerce, Internet of Things, payment..Read More
Salesforce CEO Marc Benioff extends an ‘open hand’ to laid-off IBM workers and asks for their resumes (CRM, IBM)March 6, 2016
After word went out last week that IBM continued its multi-year restructuring by handing pink slips to unknown number of workers, at least one person decided to try and help: Marc Benioff, CEO of Salesforce.
Salesforce has been growing revenue like crazy lately and he once called IBM (along with Oracle and SAP) the “dinosaurs” of the tech world.
On Friday, he tweeted an open call to former IBMers and told them to apply at Salesforce.
More new from @IBM on layoffs. https://t.co/KeBGVVAaUu Salesforce opens its hands to help @IBM and any laid off workers send us your cv.
— Marc Benioff (@Benioff) March 5, 2016
As we previously reported, these employees were the first to be subject to IBM new policy that began in 2016 of reduced severance pay. Everyone let go from IBM from now will get one month's of severance no matter how long they worked at the company.
IBM declined to comment to Business Insider about the number of employees affected last week (IBM doesn't disclos..Read More
Venture capitalist Saul Klein says investors should aim to spot the ‘right surfers’ instead of just trying to ‘ride the wave’March 6, 2016
Renowned venture capitalist Saul Klein believes technology investors should focus on spotting the “right surfers” instead of just trying to ride the wave.
Speaking to Business Insider ahead of his latest investment, an Estonian startup called Jobbatical that was founded by a pair of siblings and their friend, Klein said it's important to spot talented entrepreneurs building companies in areas where there is market potential.
“It’s not just about spotting waves,” said Klein, pointing to verticals such as cloud, mobile, fintech, and artificial intelligence. “It’s about finding the right surfers.”
He added: “Pick your wave. There will always be 30 plus companies on it. Our job [as investors] is to pick the surfers. It’s about focusing in on the big market opportunities within these waves and finding the right teams.”
Klein — who cofounded movie streaming service LoveFilm, startup accelerator Seedcamp, and computer building startup Kano — left Index Ventures last year to set up a ..Read More