Category Archives: Business

Surprise! RIM’s Stock Price Plummets

Ouch.

This is what happens when you delude yourself into thinking things are fine. RIM needs an outsider, not an insider, to fix things.

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A Breakdown of the First Battle of the Great Megaupload War of 2012

Shit hit the fan on Thursday; the U.S. government took down Megaupload, one of the largest file-sharing sites in the world. Here’s a quick recap of the key events in this crazy story:

  • Megaupload is one of top 100 most-visited websites on the web for years, mostly because it was an easy and relatively “safe” way to download and transfer pirated content. Yes, people hosted legal stuff there, but the vast majority of it was pirated.
  • On December 9, a bizarre video was released with A-listers seemingly endorsing Megaupload. P Diddy, Will.i.am, Alicia Keys, Snoop Dogg, Kanye West were among the stars featured.
  • Universal and the RIAA were NOT happy with this, so they asked YouTube to take it down due to copyright infringement,. They succeeded, though Megaupload continued to host the video (YouTube eventually brought it back as well). Megaupload essentially gave the music industry the middle finger.
  • Everything exploded yesterday, though. The FBI led a coordinated strike against Megaupload that involved 20 search warrants in eight countries. The result was the shutdown of Megaupload.com and the seizure of more than $50 million in assets.
  • Megaupload’s staff was also arrested and denied bail in New Zealand. This includes founder and majority owner Kim Schmitz — aka Kim Dotcom. Yes, that’s what he goes by.
  • Here are some pictures of the New Zealand government confiscating the Megaupload team’s very fancy cars.
  • Oh, and it was revealed that Swizz Beatz is the company’s acting CEO. Yes, the guy who’s married to Alicia Keys. This was likely an attempt by Kim Dotcom to reduce the heat on himself.
  • GigaOm has a fantastic summary of the indictment itself, if you want to learn more.
  • There was an important part of the Internet that didn’t like how this raid went down though: Anonymous. The shadowy hacker group launched its largest attack ever merely minutes after the raids became public. They attacked “the White House, the FBI, the Department of Justice, multiple record label sites, the MPAA, and RIAA, and the U.S. Copyright Office” all at once. Anonymous considered the destruction of Megaupload an act of war, and they responded with an all-out counterstrike.

If you

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Why It Would Be Wrong for Facebook & Twitter to Go Dark for SOPA (or Any Other Occassion)

Tahrir Square in Egypt during the height of the revolution

Wikipedia, Reddit and thousands of other websites have gone dark in protest of SOPA and

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The Future of Yahoo Without Jerry Yang

Jerry Yang, the co-founder and former CEO of Yahoo, has resigned from the company. And we’re not just

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Sell a Company in Silicon Valley, and Wall Street Will Find You

Another great article by NYT’s Evelyn Rusli and Ben Protess:

“Wall Street, as always, is going where the money is — and right now that is Silicon Valley. The latest Internet boom means

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Gadgets, Insomnia, and the Shadow of Apple iTV Over CES

For the first time in years, I will not be attending CES. It’s a strange yet relaxing feeling not being part of the massive crowds that converge each January on Sin City.

The annual Consumer

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Smart Move: Yahoo’s New CEO Is the Complete Opposite of Carol Bartz

Scott Thompson, the President of eBay’s PayPal division, has just been named the new CEO of Yahoo.

Thompson, who was previously Yahoo’s CTO, has been a big reason why eBay and PayPal have

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The Talent Crunch Will Define the Tech Industry in 2012

The unemployment rate in the U.S. is 8.6%, but you wouldn’t know that by looking at the tech industry.

There is an all-out war for engineering and design talent here in Silicon Valley, and

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Why Is a Saudi Prince Buying a $300 Million Chunk of Twitter?

Kingdom Holdings Company, the investment vehicle of Saudi Prince Al-waleed bin Talal, has announced that it has pumped $300 million into Twitter as a “strategic” investment.

KHC has

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Seismic Shifts Have Radically Altered the Tech News and Blogging World

The landscape of the tech news and blogging world has been radically altered in the last year, and it just got another big jolt by the news that ReadWriteWeb has been acquired by SAY Media.

First

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