Silicon Valley may have tried to wash its hands of Tom Perkins over his claim that criticism of the wealthiest 1 per cent bears comparison with Nazi persecution of the Jews.
But, even as he apologised for the comment on Monday, that didn’t stop the former venture capitalist from claiming to speak for Silicon Valley as he warned of the dangers of a populist backlash against the massive wealth being created in the tech industry. Read more
Forget the formal estimates: what Wall Street was really hoping for from Apple’s latest quarter was an acceleration in growth that would blow away the “official” forecasts.
The figures released on Monday failed to impress. At 51m, the number of iPhones sold in the quarter came in 2m short of estimates, though the 26m iPads topped most estimates. Within minutes, Apple’s shares had slipped more than 5 per cent.
Read below for our coverage of the earnings report and the company’s analyst call.
Nutanix, which looks like being the next billion-dollar start-up to emerge from the revolution sweeping through data centre technology, is nothing if not bold.
That extends to a new $156m round of financing announced on Tuesday which includes a $55m slice of debt – a hefty commitment for a company that only began to generate revenue two years ago and has yet to turn cashflow positive. But Goldman Sachs and Morgan Stanley are already jostling for prime position in a future IPO. Read more
The $3.2bn acquisition of Nest will bring a whole new class of personal data under Google’s control: information about what happens inside your home. So it’s not surprising that privacy questions are already looming large.
After five years of trying, online investment management firm Wealthfront seems to have hit on a formula that works. Its assets under management jumped nearly five-fold last year to top $500m.
Of course, this hardly counts as a drop in the bucket in an industry where huge scale really matters. Vanguard and Charles Schwab count their assets in the trillions. But it hints at a fast-growing opportunity for new online financial brands if they can hit the right formula – as online credit firm LendingClub has also proved. Read more
John McAfee has his name back. The controversial anti-virus software entrepreneur had been sharing it with Intel since 2011. But after his bizarre exploits in Belize became prime tabloid fodder more than a year ago, it seemed only a matter of time before the association went the way of history. Read more
It’s financing season for cloud storage. With Dropbox reported to be looking for another $250m and Box working towards an IPO, the company hoping to stake a claim to being the number three independent name just took in a more modest round of $34m.
Hightail – the new name of file-transfer company YouSendIt – has been in the business longer than its bigger rivals and needs to step on the gas if it wants to be a player in a market that is destined for consolidation before long. Read more
Europe may be more sensitive to breaches of online privacy, but the US has levied larger penalties when things go wrong.
The latest case in point: the $17m that Google agreed on Monday to pay to a group of US states and the District of Columbia to resolve complaints that it circumvented cookie controls in Apple’s Safari browser. According to Google’s critics, however, it is still too easy for the company to buy its way out of trouble. Read more
There was plenty of self-congratulation going on between Twitter and its advisers on Thursday. They had just avoided a repeat of the messy Facebook IPO: Twitter is officially the new darling of Wall Street.
But did they err in the other direction instead and massively under-price the offering? Read more
Helpouts is just the kind of big, ambitious project Google should be working on. A marketplace for people to sell – or just donate – their knowledge and expertise through live video sessions, it’s an all-embracing platform covering everything from the simplest how-to advice to full, personalised masterclasses.
So why does it feel like a re-run of Knol, the crowd-sourced Google knowledge base that was closed in 2012 after a four-year run? Read more