2013-08-26

Regulators, Bitcoin group discuss digital currency 1 BTC = $131.98087 USD now

WASHINGTON (Reuters) - U.S. regulators and law enforcement agencies met on Monday with an advocacy group for Bitcoin, a digital currency that has been under fire for its purported role in facilitating anonymous money transfers.
Jennifer Shasky-Calvery, director of the Financial Crimes Enforcement Network (FinCEN), said her unit hosted a presentation by members of the Bitcoin Foundation, an advocacy group of Bitcoin-related businesses.
"This is part of our ongoing dialogue aimed at enhancing communication with our regulated financial industries," Shasky-Calvery said in a statement.
She also noted that virtual currency exchanges must register with regulators and face requirements similar to those imposed on other financial firms. FinCEN is the Treasury Department's anti-money laundering unit.
Bitcoins, which have been around since 2008, are a form of electronic money that can be exchanged without using traditional banking or money transfer systems.
Bitcoins are the most prominent of these new currencies, which have come under scrutiny from regulators and law enforcement officials.
Representatives of the Bitcoin Foundation did not immediately respond to requests for comment. The group's website says it aims to make the currency more respected and to improve and protect its integrity.
The currency first came under scrutiny by law enforcement officials in mid-2011 after media reports surfaced linking the digital currency to the Silk Road online marketplace where marijuana, heroin, LSD and other illicit drugs are sold.
In recent months, the U.S. government has taken steps to rein in the currency and more regulatory action is expected.
Tokyo-based Mt. Gox, the world's largest exchanger of U.S. dollars with Bitcoins, had two accounts held by its U.S. subsidiary seized this year by agents from the Department of Homeland Security on the grounds that it was operating a money transmitting business without a license.
The Federal Bureau of Investigation reported last year that Bitcoin was used by criminals to move money around the world, and the U.S. Treasury said in March that digital currency firms are money transmitters and must comply with rules that combat money laundering.
The Senate Committee on Homeland Security and Government Affairs launched an inquiry into Bitcoin and other virtual currencies earlier this month, asking a range of regulators to list what safeguards are in place to prevent criminal activity.

Mega --- Kim Dotcom's nw business has won 4 million registered users


Kim Dotcom's new business, the file storage and sharing site Mega, has won 4 million registered users since its launch in January, and will move into its first office in the next few weeks, says chief executive Vikram Kumar.

Kumar, who until February was head of non-profit
 InternetNZ, said there are a few thousand paying Mega users. But for now, the priority is getting people registered rather than paying. Growth will be dependent on how quickly Mega can build out its product, he said.Mega, which is hosted in Europe and New Zealand, now uses 150Gbps, more bandwidth than the whole of New Zealand, Kumar said. That's important, because experience shows that the monetisation of such sites and bandwidth utilisation track each other closely.
Mega, dubbed "The Privacy Company", also plans to become a back-end platform for other services through releasing a software development kit to allow third-party integration, he said.
One application would be for Mega to become a storage service for smart TVs.
"They are expected to become increasingly popular and will have apps and need storage," he said.
A public listing is still planned within two years whether in New Zealand or elsewhere.
Kumar said there is a rewriting of the internet on the basis of privacy occurring. Mega users typically share in a controlled manner, and use the site for secure collaboration, but there is some amount of public sharing.
He said Mega is changing peoples' understanding of what file sharing is about. It is shifting from public sharing to allowing access to the user's own files across multiple devices and enabling secure and private collaboration.
"If anyone is concerned about copyright infringement or anything being done illegally, we just point them to the numbers," he said.
A pro rata comparison of the number of takedown notices received by YouTube and Mega shows that people understand Mega is not a good place to store and share infringing material, he said.
Mega's main strength is its fully encrypted file sharing, and being able to choose who to share with. However, it is also fast, Kumar said, claiming that independent tests have shown it to be the fastest of its kind.
Another draw card is that it offers 50GB of free storage — several times more than competitors. Dropbox offers between 2GB and 18GB free, depending on referrals.
Mega's base subscription above the free service is for 500GB of storage and 1TB of bandwidth for €10 per month.
Kumar said the Mega brand has not been tarnished by police raids and the shutdown of Dotcom's previous venture, Megaupload. The association with Dotcom would have been obvious no matter what the brand.
The upside is that it would have been hard to get the word out without that association.
"People are getting to know the service. Thousands are signing up without any advertising," he said.
Having delivered an Android mobile app, Kumar said many are now waiting for the iOS version, which is coming, as is a Windows Sync Client. Users are also asking for mail and voice services, he said.
Further, it is a truly global company, with only one of the top 10 countries using the service being an English-speaking nation.
Mega has undertaken two rounds of funding. In January, domain name salesman Tony Lentinowas named as an investor, while another private New Zealand investor has since come onboard.
Maori tribe Tainui has also been reported to be eyeing an investment in the startup.
Kumar said Mega is "very lean", with five staff members and three contractors. There is a comfortable margin of money in the bank.
So, how is it working with Dotcom?
Kumar said Dotcom is very hands off. They talk about once a week. However, he has a "fantastic understanding of business, vision, and really understands internet business models."

Bill Gates Invested $35M on Researchgate.net --- Social Network for Research

co-founder Bill Gates, the world’s richest person, is helping lead a $35 million investment in ResearchGate, a networking website for scientists.
Gates is joining Tenaya Capital in leading the round, which also includes Dragoneer Investment Group LLC, Thrive Capital, Benchmark and Founders Fund, ResearchGate said today in a statement. The Berlin-based startup, founded in 2008, has almost 3 million members.
Billionaire Bill Gates, chairman and founder of Microsoft Corp., during an interview on the sidelines of the 2013 Fiscal Summit sponsored by the Peter G. Peterson Foundation in Washington, D.C., on May 7, 2013. Photographer: Andrew Harrer/Bloomberg
ResearchGate Chief Executive Officer and co-founder Ijad Madisch said he met Gates in France recently, after being introduced to a representative by Benchmark’s Matt Cohler. Gates has given away more than $28 billion of his fortune, mostly to the Bill & Melinda Gates Foundation, which funds programs to lift people out of poverty and invests in vaccines designed to eliminate infectious diseases around the globe.
“I was always dreaming of a potential investment from him because I admire what he has done, what he has built and switching his attention to eradicating disease,” Madisch said in an interview. “What he’s trying to do is perfectly aligned with what we’re doing.”
Gates wasn’t available for comment, according to John Pinette, a spokesman.
While ResearchGate is a business that seeks to make money, the site is bringing together scientists, including many focused on the same issues as the Gates Foundation, Madisch said.

Researcher Network

Scientists and researchers use ResearchGate to publish studies, work collaboratively and recruit talent. The new funding will be used to spur development of the company’s products for sharing and searching for scientific data, according to the statement.
Madisch said the money also will go toward expanding the sales staff and working on revenue-generating products, such as recruiting tools and creating a marketplace for scientific equipment. The company has about 105 employees, he said.
ResearchGate last raised money in February 2012, in a financing round led by Peter Thiel’s Founders Fund. ResearchGate hasn’t disclosed the total amount of money that it’s raised to date.

Steve Ballmer Retired from Microsoft CEO


Microsoft CEO Ballmer speaks during his keynote address at the Microsoft "Build" conference in San Francisco


SEATTLE (Reuters) - The next CEO of Microsoft Corp has one big decision to make: press on with retiring chief executive Steve Ballmer's ambitious plan to transform the software giant into a broad-based devices and services company, or jettison that idea and rally resources around its proven strength in business software.
Ballmer's grand design - unveiled just six weeks before Friday's surprise announcement that he would retire within a year - calls for 'One Microsoft' to pull together and forge a future based on hardware and cloud-based services.
But poor sales of the new Surface tablet, on top of Microsoft's years-long failure to make money out of online search or smartphones, have cast doubt on that approach.
For years, investors have called on Microsoft to redirect cash spent on money-losing or peripheral projects to shareholders, while limiting its focus to the vastly profitable Windows, Office and server franchises.
Activist investor ValueAct Capital Management LP, whose recent lobbying of the company may have played a role in Ballmer's decision to retire earlier than he planned, is thought to favor such an approach.
In the last two years alone, Microsoft has lost almost $3 billion on its Bing search engine and other Internet projects, not counting a $6 billion write-off for its failed purchase of online advertising agency aQuantive. It took a $900 million charge for its poor-selling Surface tablet last quarter.
For now at least, Microsoft seems intent on pursuing Ballmer's vision. John Thompson, Microsoft's lead independent director who is also heading the committee to appoint a new CEO, said on Friday the board is "committed" to Ballmer's transformation plan.
The eventual choice of that committee - which has given itself a year to do its work - should provide a clue to how committed the board really is, and how open to outside advice.
"Taking an internal candidate like Satya Nadella - the guy nurturing servers - or some of the other people on the Windows team, that makes sense to keep a steady hand through this reorganization and strategic shift," said Norman Young, an analyst at Morningstar.
"But a strong case could be made that the company needs a breath of fresh air, someone who can execute on the strategy but also bring an outsider perspective," he added.
That could mean selling the Xbox and abandoning Bing, or cutting short efforts to make tablets or other computers.
SHAREHOLDERS CLAMOUR FOR MONEY, BALLMER'S HEAD
Throughout the last decade, as Microsoft's share price has remained flat, shareholders have called for bigger dividends and share buybacks to beef up their returns.
Microsoft obliged with a one-time $3 a share special dividend in 2004 and has trebled its quarterly dividend to 23 cents since then.
But shareholders still want a bigger slice of Microsoft's $77 billion cash hoard, $70 billion of which is held overseas.
Rick Sherlund, an analyst at Nomura, believes that if the retirement of Ballmer means the company is listening to ValueAct and its supporters, then action on the dividend and share buyback could perhaps happen as early as September 19, when Microsoft hosts its annual get-together with analysts and is expected announce its latest dividend.
"The momentum of shareholder activism is well underway and likely to benefit shareholders even though the process of how this unfolds is not certain," said Sherlund.
The lackluster performance of Microsoft's stock has long been the stick that shareholders beat Ballmer with, and it has looked all the worse compared with the staggering gains made by Apple Inc under Steve Jobs.
Yet Ballmer - who owns just under 4 percent of the company - never showed any doubts about his intention to stay in the job. His old friend and ally Bill Gates, who still owns 4.8 percent of the company, never wavered in his public support.
The first public signs of dissent on Microsoft's board came in 2010, when Ballmer's bonus was trimmed explicitly for the flop of the infamous Kin 'social' phone and a failure to match Apple's iPad, according to regulatory filings.
It was around that time, though not necessarily connected, that the board started considering how it would manage a succession, according to a source familiar with the matter. Ballmer and the board began talking to both internal and external candidates.
About 18 months to two years ago, Ballmer started thinking seriously about a succession plan, the internal source said.
The time since was not marked with glory for Ballmer, with a tepid launch of Windows 8, the disappointment of the Surface tablet, and a $731 million fine by European regulators for forgetting to offer a choice of browsers to Windows users.
Two to three months ago, Ballmer started thinking seriously about his retirement and concluded it was the "right time to start the process," the source said. That was shortly after ValueAct took a $2 billion stake in Microsoft.
July's gloomy earnings, which offered no immediate hope of quick improvement, may have sealed the decision. Ballmer said Friday he made the choice in the few days prior, and informed the board on Wednesday. Whether the board urged Ballmer to leave is not known.
The impending exit of Ballmer leaves a difficult and perhaps impossible choice to his successor - pushing a large and insular behemoth through a highly risky transformation to the mobile world, or clinging to an island of profitable but PC-centric businesses.
"I'm not sure there is someone who can do Steve's (Ballmer's) job 'better'. It's an incredibly difficult job, perhaps intractable," said Brad Silverberg, a former senior Windows executive and co-founder of Seattle venture capital firm Ignition Partners. "Perhaps the way the job is defined needs to change, and this is the harbinger of bigger changes to come."

2013-08-23

Vogue : Marissa Mayer

As she works to reverse the fortunes of a failing Silicon Valley giant, Yahoo’s Marissa Mayer has fueled a national debate about the office life, motherhood, and what it takes to be the CEO of the moment.“I really like even numbers, and I like heavily divisible numbers. Twelve is my lucky number—I just love how divisible it is. I don’t like odd numbers, and I really don’t like primes. When I turned 37, I put on a strong face, but I was not looking forward to 37. But 37 turned out to be a pretty amazing year. Especially considering that 36 is divisible by twelve!”A few things may strike you while listening to Marissa Mayer deliver this riff, prompted by a question about how her life has changed since her son, Macallister, was born last fall. The first is that she’s not kidding about being a geek. Mayer talks about numbers as if they were people, refers casually to x- and y-axes, and drops terms like stochastic factor (it means a random distribution) in conversation. On business issues, she speaks awkwardly, piling as many likesinto a sentence as Alicia Silverstone in Clueless. But when she gets on to technology, she turns effortlessly articulate.The next is that she is an unusually stylish geek. The day we had that conversation in her white, glossy, minimally appointed office in Sunnyvale, California, she was wearing a red Michael Kors dress with a gold belt and a brown Oscar de la Renta cardigan. This cashmere bolero is her work uniform—she has the same one in ivory, navy, black, hot pink, teal, red, and royal blue, and adds new colors every season. She was hoarse from a cold she picked up flying to New York and back, and it was eight-thirty in the evening, with hours’ more work ahead. But she burbled with excitement as she talked about her job. “I’m having the time of my life,” she told me.What would Marissa Mayer wear? A workweek guide to office dressing.It might also strike you that the paradox of being both glamorous and a geek explains Mayer’s rapid progress in reviving what only a year ago looked like a moribund giant. Before her arrival in July of last year, Yahoo was being written off by the tech industry, investors, even its own staff. A series of failed CEOs—non-techies from Hollywood, advertising, and finance—had gotten little purchase on the fading technology brand. It was far from clear that a six-months-pregnant, 37-year-old Google engineer and first-time CEO could remove the air of irony that had attached itself to Yahoo’s purple exclamation point.   “Pregnant in Prada”—see our Marissa Mayer–inspired maternity wardrobe.A year later, the punctuation no longer looks so absurd. Adam Cahan, Yahoo’s head of mobile and another ex-Googler, told me, “Yahoo has released more products in the last six months than probably in the last five years.” But it is the products themselves that represent what he describes as “a dramatic cultural shift.” These include a gorgeous new weather app for mobile phones, a relaunch of the photo-sharing site Flickr, and an update of Yahoo Mail, all of which are drawing the first positive reviews the company has seen in ages. By acquiring Tumblr, the hippest of the social-media sites, Mayer solved the problem of Yahoo’s aging demographics and lack of cool with a single billion-dollar stroke.From then to now: Read a 2009 profile on Marissa Mayer from Vogue’s annual “Age” issue.If Yahoo’s bottom-line growth is still modest, investors are optimistic: The stock price is up almost 60 percent since Mayer joined. But the most important aspect of the transformation she’s leading may be the least tangible. Yahoo, a brand of early adopters before it became one for tech codgers, is returning to its role as a company that matters in Silicon Valley—able to compete for top engineering talent and acquire start-up companies without smothering them. “She is really talented. She is really aggressive,” says Henry Blodget, whose Business Insider site is a partner with Yahoo Finance. “She is extremely driven, and that inspires people. Developers are excited about working for a leader like her, someone who says, ‘I’m in; who’s with me?’ And they’re excited about working for an underdog.”

2013-08-22

Chinese takeover rumors now swirl around HTC

Chinese takeover rumors now swirl around HTC
An extensive Bloomberg article published on late Wednesday afternoon examined the likelihood of HTC getting bought by ZTE, Huawei or Lenovo. According to recent speculation, Lenovo is now apparently expected to gobble up BlackBerry, Nokia and HTC, though perhaps not in that order. HTC’s market cap has shrunk by 88% from its peak and the company is now valued at less than half of its annual sales, so it definitely is a lot cheaper than it used to be. The problem with the takeover scenario is that if the prospective buyers believe that HTC will be even cheaper in a couple of months, they will be tempted to wait for that deeper bargain. In the meanwhile, HTC’s global market share

2013-08-21

Google Driverless Car

Continental AG, Google to work on self-driving cars - report
Surfboards lean against a wall at the Google office in Santa MonicaFRANKFURT (Reuters) - German automotive parts maker Continental AG is close to agreeing alliances with Google and IBM to develop autonomous driving systems for cars, a German newspaper reported. Daily Frankfurter Allgemeine Zeitung cited unspecified sources as saying Continental aims to unveil the two pacts at the Frankfurt Car Show in September. Continental is already in an alliance with U.S. network equipment maker Cisco Systems to work on systems for automated and driverless automobiles and on data transfer between cars. A Continental spokesman declined to comment. ...

Free Bing for school

08/21/2013 Microsoft offers ad-free Bing for the classroom to battle Google
The Microsoft logo is seen at their offices in BucharestBy Gerry Shih SAN FRANCISCO (Reuters) - The long-running rivalry between Microsoft Corp and Google Inc is turning into a schoolyard brawl. Microsoft on Wednesday opened a new front against the world's No 1 search provider by piloting an ad-free offering for educational users of Bing, its search engine that for years has trailed Google. Under the free program called "Bing for Schools," students in participating school districts will no longer see ads or adult content when they do Internet searches. ...

Mark Zuckerberg has enlisted Samsung Electronics Co Ltd, Qualcomm Inc and other technology companies to help him in a project aimed at making Internet access affordable for the 5 billion people around the world who are not online.

Facebook Inc CEO Mark Zuckerberg has enlisted Samsung Electronics Co Ltd, Qualcomm Inc and other technology companies to help him in a project aimed at making Internet access affordable for the 5 billion people around the world who are not online.

The group, called internet.org, is the latest effort by an Internet company to seek to expand Web access to emerging economies. It follows a similar thrust by Facebook rival Google Inc, which uses everything from balloons to fiber connections to expand connectivity.

While short on specifics, Zuckerberg's group intends to explore everything from lower-cost smartphones and providing Internet access to underserved communities, to working out ways to reduce the amount of data downloads required to run mobile Internet applications such as Facebook.

Zuckerberg did not give an estimate on how much it would cost to connect the world's population to the Internet.

He said the key is to cut network operators' costs for providing data services so they can in turn lower the prices charged to consumers.

The 29-year-old who founded Facebook in his university dorm room said in a 10-page document released on Wednesday that he hopes the efficiency of data delivery will improve 100-fold in the next five to ten years.

Keith Mallinson, a longtime telecom industry analyst, said that while the concepts and technologies Zuckerberg cites could be viable, the commercial interests of big companies and government politics could create bigger obstacles.

"There has to be a lot of heavy lifting to make all these things happen and to coordinate them," said Mallinson, who founded research firm WiseHarbour.

While 2.7 billion people are already online, the number is increasing by less than 9 percent annually, a rate that Zuckerberg said was too slow. Two-thirds of the world's population still has no Internet access.

While many of today's Facebook members use the service just to keep in touch with friends, Zuckerberg said future Internet users may have more lofty needs.

"They're going to use it to decide what kind of governments they want, get access to healthcare for the first time ever, connect with family hundreds of miles away that they haven't seen in decades," he told CNN's "New Day" show on Wednesday.

NOT JUST MONEY

The world's largest social network with 1 billion-plus members, Facebook once harbored ambitions of becoming an all-encompassing Web destination with everything from searches to messaging and shopping, analysts say. But a succession of forays into new areas, such as its "Home" interface for smartphones, fizzled.

Zuckerberg said in the CNN interview that internet.org was for now a "rough plan." He said the project was not just about making money for Facebook, which needs to keep expanding to boost revenue.

He noted that the first billion Facebook members "have way more money" than the rest of the world combined.

Facebook recently surprised Wall Street by reporting stronger-than-expected quarterly results, helped by an increase in advertising revenue from mobile users.

The earnings report was a much-needed boost for the company, which has struggled to regain credibility after a rocky initial public offering in May 2012. It remains under pressure to sustain its high growth rate by expanding into new markets.

Besides Facebook, other players in internet.org include Ericsson, MediaTek Inc, Nokia and Opera Software ASA.

While the list did not include mobile network operators, Zuckerberg said these companies would play a central role.

For example, he suggested improvements such as new antenna technology and data-caching, new types of partnerships and better use of wireless airwaves, which are typically auctioned to carriers for billions of dollars in government sales.

He also suggested that linking consumers' Facebook accounts with carriers could provide operators more consumer data.

Analyst Mallinson said it may be difficult to get governments to change their policies on spectrum but suggested that Internet and telecom companies could change how they do business.

For example, Internet firms like Facebook and Google, which do not have to build or maintain vast public networks that carry Internet traffic, could pass some advertising revenue on to carriers that spend billions of dollars on networks to help reduce data prices for consumers, he said.

Google has spent hundreds of millions of dollars on fledgling network projects such as local high-speed fiber networks. But it now depends almost completely on traditional telecom companies to deliver its services to consumers.

In June, Google announced a small network of balloons over the Southern Hemisphere in an experiment it hopes to use to bring reliable Internet access to remote regions.

The pilot program, Project Loon, took off from New Zealand's South Island, using solar-powered, high-altitude balloons that ride the wind about 12.5 miles, or twice as high as airplanes, above the ground.

(Reporting by Sinead Carew in New York, and Ashutosh Pandey and Krithika Krishnamurthy in Bangalore; editing by Maureen Bavdek and Matthew Lewis)

2013-08-15

6 billion hours a month --- YouTube

YouTube said in May it was streaming 6 billion hours of video a month. The goal is to get to 1 billion hours a day within a couple years, according to a person familiar with the matter, adding that bandwidth is crucial to the effort to ramp up viewership. Google declined to comment.

2013-08-13

Larry versus Larry: Oracle's Ellison says Google's Page acted 'evil'

08/13/2013 Larry versus Larry: Oracle's Ellison says Google's Page acted 'evil'

Co-founder and Chief Executive of Oracle Corporation, Ellison introduces the company's latest SPARC servers at Oracle Conference Center in Redwood ShoresBy Jennifer Saba (Reuters) - Larry Ellison, Oracle Corp's outspoken chief executive officer, said Google Inc CEO Larry Page acted "absolutely evil" and accused the Internet company of using Oracle's products without permission. "We just think they took our stuff, and that was wrong," Ellison said in an interview with Charlie Rose on "CBS This Morning" that was aired on Tuesday. When asked if he thought Page was evil, Ellison replied: "I think what they did was absolutely evil." Google, whose motto is "don't be evil," declined to comment. ...

2013-08-09

After 15 months,Facebook price is same as IPO

News for facebook price Facebook's soaring stock closes above $38 IPO price The Guardian - 5 days ago Shares gain 56 cents to finish at highest closing price since end of its first day of trading in May 2012.