Russia’s nascent crackdown on Bitcoin is misguided, in my view, but it reinforces a point that some supporters of virtual currencies tend to underestimate: governments can ban them if they choose.
That sounds like an obvious point, but some libertarian enthusiasts for Bitcoin talk as if it can challenge fiat currencies without governments and central banks being able to stop it. John McAfee, the anti-virus entrepreneur, is one of them: Read more
Nadella channelling Zuckerberg (photo: Microsoft)
Executive biographies keep a low profile on most company websites. Not so at Microsoft, which has been showing off its new chief executive, Satya Nadella, on a special microsite of the kind usually used to hawk things that consumers can actually buy. This is unlikely to persuade anyone to buy a PC or a Surface tablet. What, then, is the point?
Visitors see a list of Mr Nadella’s qualifications (Education: BS, MSCS, MBA; Hobbies: poetry). A video shows the new CEO answering questions such as “Why do you think Microsoft is going to be successful?”, which gives you an idea of how useful he might be in a boardroom. The blurb strikes an aspirational tone: “Nadella wanted to complete his master’s degree and take the Microsoft job. He did both.” Read more
Aston Martin recall gives an insight into the supply chains of even luxury carmakers (Bloomberg)
Aston Martin’s recall of most of the cars it has built in the past six years is damaging to the company, but even more damaging for the reputation of parts suppliers in the Pearl River Delta in China. Read more
Bitcoin is being forced to grow up fast. The arrest last week on money laundering charges of Charlie Shrem, a leading Bitcoin champion, coincided with a regulatory hearing in New York to consider what on earth it is – a virtual currency, speculative asset or a means of exchange?
Punish the unpunctual: Ben Horowitz (Getty)
Andreessen Horowitz, the Californian venture capital investor, is strict about ensuring that its staff do not keep entrepreneurs waiting.
Ben Horowitz, the firm’s rap-loving co-founder, has revealed that latecomers to its pitch meetings are fined $10 a minute. The penalty for getting caught using a smartphone or computer is $100, meanwhile.
Mr Horowitz told this week’s Startup Grind conference that the stance was a product of his own experience of building a business (he helped create Opsware, sold to HP for $1.6bn in 2007 before founding the VC firm with Marc Andreessen). Read more
New Microsoft CEO Satya Nadella has produced an opening memo to employees that is rich in repetitive rhetoric but short on substance. Here is what he really meant.
From: Satya Nadella
To: All Employees
Date: Feb. 4, 2014
Subject: RE: Satya Nadella – Microsoft’s New CEO
Today is a very humbling day for me.
“Humility” is the appropriate tone for CEOs these days, but, believe me, when I got the nod I was punching the air like Steve Ballmer on an adrenaline high. Read more
The eulogies last week for Justin King, outgoing chief executive of J Sainsbury, make clear he won his crown as Britain’s most successful grocer by reconnecting with his loyal subjects – the shoppers – after years of neglect. But his abdication as chief executive of the country’s second-largest supermarket chain, after a decade in charge, is a good moment to ask whether customer loyalty really matters any more.
Million-dollar endorsement: Honus Wagner teaches lessons to modern celebrities (Source: Metropolitan Museum of Art via Bloomberg)
In the strange world of celebrity endorsements, it is usually the brand that dumps the celebrity – as happened, say, when Nike dropped cycling cheat Lance Armstrong in 2012 – rather than vice versa. So it stood out last week when Bollywood star Amitabh Bachchan revealed he stopped endorsing Pepsi some years ago, after a young girl asked him why he was advertising a drink her teacher said was “poisonous”.
“The Big B’s” declaration, during a talk with Indian business school students, coincided with a controversy that took the more predictable route. Actress Scarlett Johansson maintained her endorsement of SodaStream, the Israeli fizzy drinks company, and severed ties with Oxfam, the charity for which she had been a long-standing (and, people in the NGO world tell me, interested and involved) goodwill ambassador.
But his wider comments shed light on the other side of such endorsements and how celebrities can limit the risk of cross-contamination. Read more