The Mess At Medium
The episode captured Medium in all its complexity: a publishing platform used by the most powerful people in the world; an experiment in mixing highbrow and lowbrow in hopes a sustainable business would emerge; and a devotion to algorithmic recommendations over editorial curation that routinely caused the company confusion and embarrassment.
The 8th Wonder Of The World
In exchange for billions in tax subsidies, Foxconn was supposed to build an enormous LCD factory in the tiny village of Mount Pleasant, creating 13,000 jobs. Three years later, the factory — and the jobs — don’t exist, and they probably never will. Inside the empty promises and empty buildings of Wisconn Valley.
Slate Star Codex and Silicon Valley’s War Against the Media
How a controversial rationalist blogger became a mascot and martyr in a struggle against the New York Times.
Fairly long, since it recounts all of SSC’s greatest hits.
The New York Times is opting out of Apple News
Google Erases Thousands of Links, Tricked by Phony Complaints
Dubious copyright claims citing 1998 law led the search giant to make unfavorable articles vanish
Google removed search links to the Vietnamese-language article after someone identifying as Long Hoang filed a complaint claiming the piece violated the copyright on an identical blog post about the tourists dated October 20, 2019, more than four months before the unnamed Britons visited. The blog consists of only eight posts, all cited in copyright complaints filed with Google.
Why we at $FAMOUS_COMPANY Switched to $HYPED_TECHNOLOGY
Ultimately, however, our decision to switch was driven by our difficulty in hiring new talent for $UNREMARKABLE_LANGUAGE, despite it being taught in dozens of universities across the United States. Our blog posts on $PRACTICAL_OPEN_SOURCE_FRAMEWORK seemed to get fewer upvotes when posted on Reddit as well, cementing our conviction that our technology stack was now legacy code.
Big Tech Is Testing You
Large-scale social experiments are now ubiquitous, and conducted without public scrutiny. Has this new era of experimentation remembered the lessons of the old?
Physics, chemistry, and medicine have had their revolution. But now, driven by experimentation, a further transformation is in the air. That’s the argument of “The Power of Experiments” (M.I.T.), by Michael Luca and Max H. Bazerman, both professors at the Harvard Business School. When it comes to driving our decisions in a world of data, they say, “the age of experiments is only beginning.”
SoftBank’s $375 Million Bet on Pizza Went Really Bad Really Fast
By the time Garden headed back down the driveway, he was well on his way to a SoftBank investment of $375 million, with double that money on the table if his business gained traction. But that’s not what happened. Instead, Zume marks one of the biggest recent disappointments in SoftBank’s portfolio. As of this year it no longer makes or delivers pizzas. In January, Zume cut 360 jobs, leaving a little over 300 employees, and said it would focus on packaging and efficiency gains for other food delivery companies.
Levine commentary: https://www.bloomberg.com/opinion/articles/2020-02-14/robot-pizza-trucks-hit-some-bumps
Just, what a closed loop it is. You run a pizza delivery business. You craft a pitch calculated to convince Masayoshi Son that your pizza delivery business will change the world. You meet with Masayoshi Son. He convinces you that you will change the world. Now you are all believers, all in it together. He hands you piles of money. You go home and weep to your friends, “I am going to change the world.” The friends are like “wait what with the pizzas?” But it is too late for skepticism, you have the money, the robots are in the trucks, they are fanning out across town, the cheese is everywhere, they cannot turn back.
People Are Jailbreaking Used Teslas to Get the Features They Expect
Last week, Jalopnik ran an article about a person who bought a used Tesla from a dealer—who in turn bought it at auction directly from Tesla under California’s lemon law buyback program—advertised as having Autopilot, the company’s Advanced Driver Assistance System. The entire Autopilot package, which the car had when the dealer bought it, costs an extra $8,000. Then, Tesla remotely removed the software because “Full-Self Driving was not a feature that you had paid for.” Tesla said if the customer wanted Autopilot back, he’d have to fork over the $8,000.
A Decade of ‘Unicorns’ Ends With a Little Less Magic
Despite their growing numbers and valuations, the performance of unicorns has been a mixed bag. On the whole, an investor in the second half of the decade was likelier to have put money into a unicorn that was unprofitable and whose value has dropped as a public company than an investor in the decade’s first half, The Wall Street Journal found.
In the modern commune, a case of beer is not welcome
didn’t plan to move into a commune. But when The Economist sent me to San Francisco for two months to cover a gap in our Silicon Valley coverage, my housing options seemed unpalatable. I didn’t want to live in a soulless serviced apartment, and hotels and Airbnbs were horrifically expensive for long stays. So I found myself trawling Facebook groups with names like “San Francisco flatshare”. A stranger suggested I look at a spare room in a communal house he knew. I wrote an earnest email introducing myself to its occupants and asking whether they had a room for a month. A few hours later I was in.
I felt like a Neanderthal, supping beer and interjecting to add that surely it was important to enjoy yourself now and again. This sat oddly with a group that was on a different path towards self-actualisation.
You Can’t Just Call Loans Options
Also tech companies as banks, the bank of crypto and index funds.
A weird feature of U.S. tax law is that, if you do a thing purely to get around tax rules, then that is bad and a sham and the IRS can look through it and make you pay your taxes. But if you do the thing not only to get around tax rules but also to get around other rules (like margin requirements), then from the IRS’s perspective you have a valid business purpose and you might be able to keep your good tax treatment. “We’re not just gaming your rules, we’re gaming other regulators’ rules too” is, surprisingly, an argument that might persuade the IRS.
The advertising for the Apple card calls it “A new kind of credit card. Created by Apple, not a bank.” That appears to be true of the appearance of the physical card. But the credit algorithms were created by a bank, to Apple’s eventual embarrassment. It is just a little odd that Apple seems to have been so incurious about the algorithms. It’s a tech company!
The Google Squeeze
OTAs have always been a special case when it comes to Aggregation Theory; like Aggregators, they serve customers on a zero marginal cost basis, and they have power over supply (hotels, primarily) by virtue of delivering them demand. The hangup for me is how they acquire that demand: first and foremost from Google.
This arrangement between OTAs and Google has long been beneficial to both sides. Google drives traffic to the OTAs, which can monetize that traffic via commissions extracted from suppliers.2 Google, meanwhile, not only receives relevant results it could serve to customers, but also makes billions of dollars from OTAs buying search ads.
A look inside the never-before-seen interior of San Francisco’s Ferry Building clock tower
Beware the shitty autoplaying videos. Support local news!
But some of the pictures are kinda cool.
Knotel wants to be WeWork — without the ‘bloodbath’
Sun Microsystems: A Look Back at a Tech Company Ahead of its Time
Sun Microsystems is a Silicon Valley legend. Ten years after it was acquired by Oracle, the company’s past employees still have fond feelings for their former home — and a historic reunion happened two weeks ago at the Hyatt Regency by the San Francisco airport. Over 1,000 former Sun employees reunited for an evening to re-connect and to reminisce.
We Could Really Use Some Money
In better times, really not that long ago at all, we talked about WeWork as a clever financial arbitrage, segmenting the market so that it could appeal to debt investors as a boring stable real-estate company while appealing to equity investors as a fast-growing high-multiple tech company. Now, in worse times, it is the opposite: If you invest now, you can get some terrifying debt that lenders don’t want combined with some cursed equity that the stock market doesn’t want.
Did WeWork founder Adam Neumann disturb a mummy and trigger an ancient curse? Was a WeWork built on a haunted graveyard, unleashing powerful dark energies and also elevated levels of formaldehyde? How do you have such a relentless parade of negative financial news and then find out that your phone booths cause cancer? “Our phone booths might cause cancer” was not an IPO risk factor. Nobody had “phone booths cause cancer” on their WeWork Disaster Bingo cards.
Cars Were Banned on 14th Street. The Apocalypse Did Not Come.
Goldman Sachs Tries Banking for the Masses. It’s Been a Struggle.
Goldman’s new consumer bank, which operates under the brand Marcus, has lost $1.3 billion since launching in 2016. It spent heavily to buy startups and cloud-storage space, hire hundreds of techies, and build call centers in Utah and Texas. Loans have gone bad at a higher rate than that of rivals.
A credit card developed with Apple Inc. was a coup, but a costly one: Thousands of engineers across Goldman were diverted to finish it in time for an August debut, delaying other projects. Apple ads for the card carried the phrase: “Designed by Apple, not a bank”—a line that didn’t appear in a giant banner ad in Goldman’s lobby this fall.
Plus some other interesting details in here.
WeWork C.E.O., Adam Neumann, Stepping Down Under Pressure