Daily Archives: October 7, 2011

The creators of Napster, the free song-sharing service that amassed tens of millions of users and seriously challenged record labels, have reunited after a decade apart with a secretive video start-up.

Sean Parker, best known more recently as the billionaire founding president of Facebook, told the Financial Times he had reduced his duties at Founders Fund, the venture capital group, to be executive chairman of start-up Airtime. Shawn Fanning, who wrote the software behind the music site that took his own nickname, will be chief executive.

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Steve Jobs was a hero for many around the world, but in China, his status was almost mystical. Like his life, his death has captivated millions of Chinese Apple fans, and prompted some wistful questioning over whether China could ever have its own technology magician.

Already in Beijing, white flowers have appeared on the steps of the Apple store, while its iconic Apple logo will remain unlit until 10am on Friday.

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Among the eulogies to Steve Jobs’ undoubted genius was a back-handed compliment from the markets on Thursday morning: smartphone manufacturers’ shares rose in Asia, apparently on doubts about whether the US company would be able to repeat its innovative success without its founder.

Jobs left his chief executive role in August, but his premature death puts the task of dispelling those doubts firmly in the hands of his successors. It could be a mistake to assume that, because they lack Jobs’ charisma, they won’t be capable of carrying forward his legacy.

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Steve Jobs of Apple

Steve Jobs stamped his mark on the first 35 years of personal computing history, from the rudimentary but ground-breaking Apple II to the sleek touch-screen iPad. In the process, he helped instil new digital tastes in a generation, while touching off a wave of disruption that has reshaped the consumer electronics, mobile communications and media and entertainment industries.

An unlikely business leader, with an early leaning towards the counter-culture that stayed with him throughout his life, he carved out one of the most remarkable careers of his age, including a corporate comeback that is unrivalled in modern business history. Apple, the company he co-founded – widely thought to be heading for bankruptcy when he returned after a decade’s absence in 1996 – this year briefly overtook ExxonMobil to become the world’s most valuable company.

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Flowers in memory of Apple co-founder Jobs

Tributes to the late Steve Jobs have poured in from around the globe from political leaders, business chiefs and the millions of consumer fans of Apple, the company he built into the world’s second biggest by market capitalisation.

Investors reacted calmly to the news of Jobs’ death at 56 on Wednesday, with Apple shares slipping only slightly on Thursday in New York, giving the company a market value of $350bn.

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