Thursday, February 20, 2014

Mark Zuckerberg's full statement on Facebook buying WhatsApp - Guardian

Mark Zuckerberg's full statement on Facebook buying WhatsApp

http://www.theguardian.com/technology/2014/feb/20/mark-zuckerberg-statement-facebook-buying-whatsapp?CMP=twt_gu


Mark Zuckerberg, Facebook's co-founder and chief executive. Photograph: Robert Galbraith/Reuters
I'm excited to announce that we've agreed to acquire WhatsApp and that their entire team will be joining us at Facebook.
Our mission is to make the world more open and connected. We do this by building services that help people share any type of content with any group of people they want. WhatsApp will help us do this by continuing to develop a service that people around the world love to use every day.
WhatsApp is a simple, fast and reliable mobile messaging service that is used by over 450 million people on every major mobile platform. More than 1 million people sign up for WhatsApp every day and it is on its way to connecting one billion people. More and more people rely on WhatsApp to communicate with all of their contacts every day.
WhatsApp will continue to operate independently within Facebook. The product roadmap will remain unchanged and the team is going to stay in Mountain View. Over the next few years, we're going to work hard to help WhatsApp grow and connect the whole world. We also expect that WhatsApp will add to our efforts for Internet.org, our partnership to make basic internet services affordable for everyone.
WhatsApp will complement our existing chat and messaging services to provide new tools for our community. Facebook Messenger is widely used for chatting with your Facebook friends, and WhatsApp for communicating with all of your contacts and small groups of people. Since WhatsApp and Messenger serve such different and important uses, we will continue investing in both and making them each great products for everyone.
WhatsApp had every option in the world, so I'm thrilled that they chose to work with us. I'm looking forward to what Facebook and WhatsApp can do together, and to developing great new mobile services that give people even more options for connecting.
I've also known Jan for a long time, and I know that we both share the vision of making the world more open and connected. I'm particularly happy that Jan has agreed to join the Facebook board and partner with me to shape Facebook's future as well as WhatsApp's.
Jan and the WhatsApp team have done some amazing work to connect almost half a billion people. I can't wait for them to join Facebook and help us connect the rest of the world.

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Wednesday, February 19, 2014

The Economy is Big News–So Why not Teach it?

The Economy is Big News–So Why not Teach it?

http://business.time.com/2014/02/12/the-economy-is-big-news-so-why-not-teach-it/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

By  @dankadlecFeb. 12, 20145 Comments
School hallway
Getty Images
With the economy on the front page most days the past six years, you might think economics and personal finance would be a prominent subject in our schools. Yet less than half of states require an economics course in high school and little more than a third require one in personal finance, according to a new survey.
The long trend is mildly positive. For the first time, all 50 states and the District of Columbia include economics in their K-12 education standards, meaning they have guidelines for those schools that want to offer such a course. Meanwhile, more states are offering and requiring personal finance courses.
These are the chief findings in the Council for Economic Education’s 2014 Survey of the States report, out today. The CEE, which surveys each state every two years, is a strong advocate for financial education and believes that requiring school courses in economics and personal finance is an important path to progress.
“A more financially capable population can result in a larger and more efficient market for financial products, greater participation in asset building and greater financial stability,” Richard Ketchum, Chairman of the FINRA Investor Education Foundation, states in the report. “It is therefore in everyone’s interest that action be taken to improve the financial capability of all Americans.”
Ketchum notes that young people are entering adulthood saddled with debt: 36% of Millennials have student loans outstanding and 55% say they might not be able to repay this debt. Only a third have emergency savings while about the same share have unpaid medical bills. Nearly half carry a balance on their credit cards.
Financial education in schools is seen as one way to bring such numbers down over time. But first we have to bring up the numbers of states and schools that offer or require such coursework. The sobering numbers related to economic education are especially troubling because virtually every family in America was touched by economic troubles during and since the Great Recession.
While every state is on board with economic standards, just 24 require that an economic course be offered. That’s down one since the last survey. The number of states requiring that an economics course be taken in high school remains constant at 22. These numbers argue that the states are taking a pass on the mother of all teachable moments.
The news is a little better on the personal finance front. Now 18 states require that high schools offer a course, up from 14; and 16 states require personal finance instruction, up from 13 in the last survey. It’s not clear why there’s been more progress in personal finance. In part, the states that have embraced economic education are now picking up on the need for personal finance too. Another explanation is that while the hardships of the past half-decade may be better understood through an economics course, it’s better understanding of personal finance that will allow families to manage their way through tough times.
Despite the progress, these courses remain a tough sell at the state level—and that is where the battle lines are drawn. Unlike in the U.K. and other regions with a federal mandate for financial education, state authorities call the shots in America. They must be convinced one at a time, and they have been slow to respond.

 @dankadlec

Dan Kadlec is a journalist who has written about personal finance for TIME and other outlets for 25 years. He is the author of three books, a leading voice in the global financial literacy movement, and strategic adviser to the National Financial Educators Council.


Read more: The Economy is Big News–So Why not Teach it? | TIME.com http://business.time.com/2014/02/12/the-economy-is-big-news-so-why-not-teach-it/#ixzz2tpMmJAVD
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10 Secrets to Influencing Absolutely Anyone - TIME

10 Secrets to Influencing Absolutely Anyone

http://business.time.com/2014/02/14/10-secrets-to-influencing-absolutely-anyone/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

By Feb. 14, 20141 Comment
Handshake
Getty Images

This post is in partnership with Inc., which offers useful advice, resources, and insights to entrepreneurs and business owners. The article below was originally published at Inc.com.
Ever wish you were better at getting people to do what you want? You can be. All it takes is practice and desire.
I know this from experience. When I first got involved in the American Society of Journalists and Authors, I quickly learned a few things about freelance writers. They’re (mostly) brilliant. They’re creative and articulate, accustomed to living literally by their wits. But for the most part, they are not joiners. They’re self-motivated, self-directed, and not inclined to go with the flow (or else they’d be working in an office somewhere). They’re individualistic, and can be cantankerous. And here I was, trying to get them to follow my lead.
My first initiative was an internal market to match volunteers with volunteer jobs. It didn’t go well. The people giving out jobs either didn’t want new volunteers or didn’t want to put their jobs in my market. They didn’t want to hear from me or the volunteers I’d recruited. Despite my best efforts, the project fizzled out. I couldn’t figure out how to sway them.
It’s been 15 years since then and I’m now president of ASJA which is a job that still in large part consists of asking freelance writers to follow my lead. And sometimes to set aside their strongly held opinions for the good of the organization. I couldn’t do it if I hadn’t learned a few things over the years about how to get people on my side:

1. Spend lots of time listening.

Even if you already know what people are going to say, and even if there’s no way you can do what they want, start by listening. Being listened to is one of the things they want–that’s true of just about everyone. That was one mistake I made on my first project: I had listened to people who wanted to volunteer, but not to those who had volunteer jobs to offer. I assumed they’d be happy to have new volunteers but I was wrong.

2. Ask lots of questions.

Not only because everyone wants to be listened to. Careful questioning will help you determine what people really want, which is often different from what they say they want. It will also tell you what they have to offer.

3. Make a human-to-human connection.

Look for ways to connect that have nothing to do with the work at hand. Maybe they have children the same age as yours, or they live somewhere you’ve vacationed, or you share the same hobby. Even if none of that’s true, you can still make a bit of a connection based on universal experiences. For instance, right now a large portion of the United States is suffering through extreme winter weather.

4. Let your own guard down.

It’s always tough to know just how much of your personal life it’s OK to share in a business context. Many people err on the side of caution by sharing little or nothing about themselves. Instead, decide what you feel comfortable having other people know, and then give them a few details. You’ll make other people feel safer, and engage their human side.

5. Never miss a chance to say thank you.

Think hard about who’s helped you or put themselves out, and make sure to thank them. That makes it much likelier they’ll put themselves out again for you next time.

6. Never miss a chance to give praise.

Most of us never get enough praise for the things we work hard to do. So if you want to influence someone, make sure to call out what they’ve done well and how they’ve contributed to your organization or your well-being. Do it in public if you can.

7. Never miss a chance to apologize.

If you hate apologizing, get over it. An apology is one of the most powerful tools you have for winning people to your side. If a decision you made caused someone inconvenience or upset, an apology lets them know that you care. That’s true even if you don’t regret the decision itself, but only the harm it caused them.
(One word of caution: Don’t ever apologize, praise, or thank unless it’s sincerely how you feel. People can tell when you’re faking and it will backfire.)

8. Strive to give people what they want.

Obviously, this isn’t always an option. But if you can figure out what people really want or need and make sure they get it, they’ll be that much more likely to give you what you need from them.

9. Let people save face.

Sometimes you know that someone would be disastrously bad at a job they want. Should you say so? Unless you’re giving them feedback with a view to their being qualified later on, don’t. You’re better off giving that person a more palatable out. For instance, you’ve already promised the job to someone else.

10. Pick up the phone.

Do you find yourself getting and making a lot fewer phone calls than you used to? With email, text, and social media, I do. But there are times when a phone call or face-to-face communication makes a big difference. One of those is if you have disappointing news to deliver. Another is if you are asking someone to take on a bigger role or added responsibility.
On the phone you can answer any questions they have, or listen to any venting they may need to do in real time. You’ve stepped away from your other duties to spend time with them. That lets them know you really care about whatever you’re calling for. It’s a powerful way to make them care too.


Read more: 10 Secrets to Influencing Absolutely Anyone | TIME.com http://business.time.com/2014/02/14/10-secrets-to-influencing-absolutely-anyone/#ixzz2tlbwNfMb
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Monday, February 17, 2014

Even If Janet Yellen Is Wrong About the Economy, She Is Right About Fed Policy - TIME

Even If Janet Yellen Is Wrong About the Economy, She Is Right About Fed Policy

Read more: Even If Janet Yellen Is Wrong About the Economy, She Is Right About Fed Policy | TIME.com http://business.time.com/2014/02/14/even-if-janet-yellen-is-wrong-about-the-economy-she-is-right-about-fed-policy/#ixzz2takg0Qvh

By Feb. 14, 2014Add a Comment
Janet Yellen makes her first appearance before Congress as the chair of the Federal Reserve
2014. (J.M. Eddin / MCT via Getty Images
Janet Yellen’s first testimony on Capitol Hill was a resounding success.  She was poised, confident in her decisions, and clear about her intentions at the Federal Reserve.  But it was not so much what she said as what was behind it that makes it a tour-de-force performance and shows us that our monetary policy is in the hands of a capable leader.
After some initial tumult, the market has come to accept the scaling back of the Fed’s bond-buying program and can even see the many benefits of a taper: higher interest rates will discourage excessive borrowing, prevent the formation of new asset bubbles, and stabilize our economic growth at a realistic level that is fueled by real value creation and not the availability of cheap money.
Of course, if the economy really is weaker than anticipated – as the recent jobs report, which showed that only 113,000 jobs were added to the US economy in January, might indicate, then the contraction of money supply could slow down the recovery and reverse the trend of declining unemployment.  In her testimony, Yellen expressed confidence about the economy but acknowledged that unemployment is still high and that a large number of people have been unemployed for an extended period of time.
And yet she opted to stick with the taper.  There are two very good reasons for this.
What Yellen recognizes is that the most powerful tool in the Fed’s toolbox is its credibility.  In order for monetary policy to work at all, it is imperative that the markets believe what the Chairman of the Fed says, and be able to rely on the guidance that the Fed gives to price securities.  Any wavering by the Fed can lead to mispricing of both stocks and bonds and create volatility.  That is precisely what happened late last year when Yellen’s predecessor, Ben Bernanke, flip-flopped on the taper.  He first indicated that he would and then, after the markets plummeted, changed his mind.  It led to immense confusion, which was probably good for day traders and arbitrageurs, but a disaster for regular investors, who require visibility and reliability.
Yellen knows that even if she has to reverse course later this year, she is better off doing it in response to undeniable market conditions (when a reversal will be expected anyway) than doing it on a whim now, which would damage the Fed’s credibility in the eyes of investors and make its future guidance ineffective.
A sudden easing of monetary policy now would also cause over-exuberance in the stock market as the anticipation of cheaper capital fuels a buying spree, and create a bubble.  Moreover, a drop in interest rates will not automatically spur lending by banks, who were hesitant to lend even in 2013 when the Fed stimulus was in full swing.  This casts serious doubt on whether our economy, and consequently the job market, would actually benefit from a reversal of the Fed’s taper at all.
Only time will tell whether Yellen’s assessment of the current state of our economy is correct, but she is definitely right about policy.
Sanjay Sanghoee is a political and business commentator. He has worked at investment banks Lazard Freres and Dresdner Kleinwort Wasserstein, as well as at hedge fund Ramius. Sanghoee sits on the Board of Davidson Media Group, a mid-market radio station operator, and has an MBA from Columbia Business School. He is also the author of two thriller novels.


Read more: Even If Janet Yellen Is Wrong About the Economy, She Is Right About Fed Policy | TIME.com http://business.time.com/2014/02/14/even-if-janet-yellen-is-wrong-about-the-economy-she-is-right-about-fed-policy/#ixzz2tal0wYSy
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Sunday, February 16, 2014

The Massive Secret Apple Revealed This Week - TIME

The Massive Secret Apple Revealed This Week

http://business.time.com/2014/02/15/the-massive-secret-apple-revealed-this-week/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29



A unique look inside the world's most valuable technology company
By  @mattvellaFeb. 15, 2014Add a Comment
The Apple logo is pictured at its flagship retail store in San Francisco
Robert Galbraith / REUTERS
Apple plays its affairs close to the vest. The technology juggernaut is famously tight-lipped about its operations and future product plans, for instance. But pressure from labor groups has pushed Apple to open its kimono—a little. The result? A fascinating view inside the world’s biggest startup.
This week Apple said it had uncovered fewer cases of child labor as part of its annual survey of the international supply chain that makes parts for its iDevices. It is the eighth annual supply-chain report by the company. Apple also said the metal tantalum—an essential component in many electronics—it uses had not been sourced from war zones.
The world’s most valuable technology company, has been accused by labor rights groups of generating enormous profits on the backs of underpaid workers in Asia. Apple, which sold 150 million iPhones last year, audited 451 plants operated by various parts suppliers. Collectively, the plants employ some 1.5 million laborers.
For a company like Apple, supply chain is the sexless but arguably most important part of its massive profitability. CEO Tim Cook became Steve Jobs’ successor in large part by engineering its operations. Take for instance, this map from the report. It shows the provenance of its parts. In total, the report provides a deep look inside Apple’s operation.
applemap
Apple
(Click to enlarge map.)


Read more: The Massive Secret Apple Revealed This Week | TIME.com http://business.time.com/2014/02/15/the-massive-secret-apple-revealed-this-week/#ixzz2tUv5NG7k
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