KPCBEllen Pao, Investment Partner at KPCB Legendary venture capital firm Kleiner Perkins is being sued by one of its partners, Ellen Pao, for discrimination and retaliation. One of the biggest bombshell allegations in the lawsuit is that Ray Lane, one of the top partners at Kleiner, told Pao to marry the man who was tormenting her at her job when she complained to him about what was happening. We initially missed this detail, and Connie Loizos at PE Hub picked up on it. We've gone back and read the full story. Here's it is, according to the lawsuit. Keep in mind, this is one side of the story, and Kleiner has said "the firm believes the lawsuit is without merit and intends to vigorously defend ... Continue reading →

A source close to Morgan Stanley tells me the firm is holding a firm-wide conference call at 4PM New York time today to discuss the firm's role in the burgeoning Facebook IPO scandal. Another source close to the firm reports that Morgan Stanley has already held at least one such call... and that, during that call, my name came up repeatedly. I don't yet have detailed information about what was said on the prior call, but the gist of it, apparently, was this: Morgan Stanley followed all the applicable rules and regulations in the Facebook IPO Henry Blodget is a disgraced former-analyst-sleazebag-turned-bloviator who is just trying to whip up a scandal out of nothing. (I assume they didn't put it quite that way. At least ... Continue reading →

Check out this fascinating chart we put together based on something Fortune spotted. It compares Tim Cook's first 37 weeks as CEO of Apple with the first 37 weeks Steve Jobs was CEO of Apple when he returned to the company. Despite the fact that Apple was in a completely different condition when each took over the top job, you can see the stock has moved in a very similar way for both men. Cook's stock performance has been stronger, but that's because he's inherited a much better company. Follow the Chart Of The Day on Twitter: @chartoftheday Continue reading →

Girl wins boys' high school championship at Bethpage Two years ago, when back-to-back champ Matt Lowe, now a sophomore at Farmingdale High, first won the Nassau Boys' High School Championship in New York, he shot 2-under par over 36 holes and won by nine strokes. This week, he shot the same score in the same event at Bethpage State Park's Blue and Red courses and lost by six. To a girl.Annie Park set a new record at Bethpage. (Photo by J. Conrad Williams, Jr., Newsday)Seventeen-year-old Annie Park of Levittown, N.Y., was only one of two girls playing in the 134-player event -- her 14-year-old sister Alix was the other. Park's school district doesn't have a girls' golf team so she plays on the boys' team, ... Continue reading →

By Justin Sullivan/Getty Images While the world was focused on Facebook's stock trading for the first time on public markets, the company quietly announced the acquisition of Karma, a social gift giving mobile application. Karma, with just 16 employees, appeared to be another one of Facebook's talent grabs. It is not. Karma was Facebook's second biggest acquisition, going for a reported $80 million. It will be Facebook's attempt to tackle the potentially lucrative market of social commerce. Karma imports Facebook data about your friends. It then suggests gifts for those friends based on Facebook postings. It's still in the early stages, but the potential for this application is huge. This could be a truly social e-commerce experience, posing a threat to Amazon, which dominates online ... Continue reading →

By Justin Sullivan/Getty Images While the world was focused on Facebook's stock trading for the first time on public markets, the company quietly announced the acquisition of Karma, a social gift giving mobile application. Karma, with just 16 employees, appeared to be another one of Facebook's talent grabs. It is not. Karma was Facebook's second biggest acquisition, going for a reported $80 million. It will be Facebook's attempt to tackle the potentially lucrative market of social commerce. Karma imports Facebook data about your friends. It then suggests gifts for those friends based on Facebook postings. It's still in the early stages, but the potential for this application is huge. This could be a truly social e-commerce experience, posing a threat to Amazon, which dominates online ... Continue reading →

On the day Facebook hit the public markets, it also announced the acquisition of Karma, a social gift giving application. Karma only has 16 employees, and most people assumed it was yet another acqui-hire for Facebook. Those people are wrong, it's a much bigger deal, both literally and figuratively. Doug MacMillan at BusinessWeek reports Facebook paid $80 million for the startup, which is its second biggest purchase ever after Instagram. He also reports that Facebook is going to keep Karma open for business, and hopes it will generate a new stream of revenue for the company. Karma imports data from Facebook on users like birthdays, likes, and interests. From there, it makes gift recommendations for users. The user then picks out a present and can ... Continue reading →

Sheryl Sandberg spoke at the "Class Day" of Harvard Business School yesterday. (Class day is the event that leads up to its commencement day.) We're trying to get a full transcript now, but David Whitford at CNNMoney has some notes from the speech. There are two great lines that stand out. Sandberg said, "When you're offered a seat on a rocket ship, don't ask what seat, just take it." Good advice for all the students graduating. And then, "As you and your classmates spread out across the globe and walk across this stage tomorrow, I wish for you four things: First, that you keep in touch, via Facebook. This is critical to your future success. And we're public now. So can you click on an ... Continue reading →

brianstelter 722 photos · 5113 followers “I'm going to devour this.” Continue reading →