Category Archives: Finance

Lyft or Uber. Pick your poison.

Boycotting Uber is boosting the fortunes of billionaire Trump advisor Carl Icahn: But the #DeleteUber crew seems to have missed Lyft’s own ties to the Trump administration. In 2015, financier Carl Icahn made a $100 million investment into Lyft. His interests are represented on its board of directors through John Christodoro of Icahn Capital. Icahn […]

Million Dollar Fixer-Uppers

The average ‘fixer-upper’ in S.F. is now $920,000: In San Francisco, homes labeled “fixer-uppers” sold at an average of 15 percent above the list price in 2016, with a median sale price of $920,000, according to a new year-end report from Paragon Real Estate. Though the price is high, it is a substantial discount from […]

Foxconn replaces ‘60,000 factory workers with robots’

Foxconn replaces ‘60,000 factory workers with robots’: One factory has “reduced employee strength from 110,000 to 50,000 thanks to the introduction of robots”, a government official told the South China Morning Post. Xu Yulian, head of publicity for the Kunshan region, added: “More companies are likely to follow suit.” China is investing heavily in a […]

This is What the “Sharing Economy” Looks Like

The Verge took a look at Airbnb’s data in light of the New York attorney general’s beef with them: But a review of the data by The Verge found that Airbnb’s numbers, covering November of 2014 through November 1st of 2015, largely confirmed the attorney general’s accusations. A small number of hosts renting out multiple […]

“The best way to predict the future is to invent it.”

At Re/code, Noah Kulwin on investor Fred Wilson: Last week, Silicon Valley freaked out when Fidelity lowered the value in its stake of Snapchat, Zenefits and other startups in which the investment conglomerate holds equity. In Snapchat’s case, it reduced the company’s worth from $16 billion to $12 billion. Zenefits’ $4.5 billion valuation was cut […]

Human Error

Following up on my tech slowdown post from last week, Twitter is indeed laying off over 300 people, or 8% of their staff: “Product and Engineering are going to make the most significant structural changes to reflect our plan ahead,” CEO Jack Dorsey said in a letter Tuesday morning. “We feel strongly that Engineering will […]

Generation Rent

At Bloomberg, Patrick Clark looks at the exact moment cities in the US got too expensive for Millenials: The rent has been “too damn high” in New York for so long that today’s young professionals might assume it was always that way. Yet it wasn’t until the second quarter of 2004 that the median rent […]

The End of Capitalism

Over at The Guardian, Paul Mason talks about the end of capitalism and what comes after it: Postcapitalism is possible because of three major changes information technology has brought about in the past 25 years. First, it has reduced the need for work, blurred the edges between work and free time and loosened the relationship […]

Decamping Artists

Dezeen: The flow of creative people from New York to Los Angeles is “a cautionary tale for London” according to Rohan Silva, former senior policy advisor to UK prime minister David Cameron. Silva told Dezeen that the recent trend for designers, artists and other creatives to leave New York due to sky-high prices and lack […]

The Land of Opportunity!

This map, from the National Low Income Housing Coalition, “represents the hourly wage that a household must earn (working 40 hours a week, 52 weeks a year) in order to afford the Fair Market Rent for a two-bedroom rental unit, without paying more than 30% of their income.” via LifeHacker

It’s Not Okay to Work Yourself to Death

The other day I saw this article from the New York Times: In Busy Silicon Valley, Protein Powder Is in Demand Here’s a quote: Boom times in Silicon Valley call for hard work, and hard work — at least in technology land — means that coders, engineers and venture capitalists are turning to liquid meals…While […]