Image via CrunchBase Yesterday, Mark Cuban wrote a really interesting post giving his post-mortem on the Facebook IPO. He made several points. I thought the most interesting was this one: Mobile is going to crush Facebook. The logic for Facebook’s price decline is that they have a problem in mobile. They can’t offer all the games they can in a browser. They can’t offer the same ads or branding opportunities. All true. From the Wall Street Journal : “As more people gravitate to smartphones and tablets, they’re increasingly forgoing the desktop to the access the Web. Between 2008 and 2011, the percentage of U.S. adults who accessed the Internet from PCs daily grew to 62% from 54%. In the same period, the percentage of daily ... Continue reading →
America has a serious problem saving for retirement.About 49% of Americans say they aren't contributing to any retirement plan, according to a new survey conducted by LIMRA, a trade association for the financial services industry."The findings from this survey were disturbing, given that people will increasingly need to rely on their personal savings to make ends meet in retirement," said Matthew Drinkwater, associate managing director at LIMRA's retirement research division.People ages 18 to 34 are the least likely to be saving, with 56% reporting that they are not currently contributing to a retirement plan like an IRA or a 401(k)."In order to have the adequate savings necessary to meet their financial needs in retirement -- which could last 20 or more years -- it is ... Continue reading →
Facebook Rated Outperform at Wedbush By Brian Womack - Fri May 04 19:30:09 GMT 2012 Enlarge image Facebook Gets First Buy Rating A Facebook Inc. IPO announcement flag flies outside of JPMorgan Chase & Co. headquarters in New York on May 4, 2012. A Facebook Inc. IPO announcement flag flies outside of JPMorgan Chase & Co. headquarters in New York on May 4, 2012. Photographer: Peter Foley/Bloomberg Facebook Inc. (FB) received a buy recommendation from Wedbush Securities Inc. and a target price of $44, its first rating since announcing plans to sell shares in a range of $28 to $35 in an initial public offering. Facebook, owner of the world’s most popular social- networking company, should benefit from its large, growing user base that will ... Continue reading →
Enlarge image Berkshire Hathaway Inc. CEO Buffett Tomohiro Ohsumi/Bloomberg Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., spent more than $10 billion buying stock in International Business Machines Corp. Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., spent more than $10 billion buying stock in International Business Machines Corp. Photographer: Tomohiro Ohsumi/Bloomberg Enlarge image Buffett Trails S&P 500 for Third Straight Year Before Meeting Berkshire surged in the first 25 years of Buffett’s tenure as he placed winning bets on stocks like Capital Cities/ABC Inc. and Coca-Cola Co. Berkshire surged in the first 25 years of Buffett’s tenure as he placed winning bets on stocks like Capital Cities/ABC Inc. and Coca-Cola Co. Photographer: George Frey/Bloomberg Berkshire Hathaway Inc. (BRK/A) ... Continue reading →
Me, being a journalist. Yeah, this job sucks. A survey ranking journalist as the fifth-worst job to have in 2012 has been getting a lot of attention for the last few days, in case you haven’t noticed. The report, by CareerCast, says being a reporter at a newspaper, magazine or TV show is worse than waiting tables and only a tiny bit less lousy than working on an oil rig. Blame the combination of high stress and scarce career opportunities. You know that old joke referenced in “Annie Hall” about the restaurant with the terrible food and the tiny portions? This study makes me think of that. Working as a reporter is just awful — and it’s so hard to find a place to do ... Continue reading →
Nope, almost none. I realize that the universe hardly needs another article about how social networks have Changed Everything. Sorry, universe: Facebook, Twitter, chats, and microblogs have Changed Everything. Anyone who’s online can learn news before national news channels report it. The proprietors of Facebook, Twitter, and microblog accounts know this, and they abuse their power like children suddenly placed into the cockpits of battle droids. Continue reading →
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