Tech CEOs Lose $61 Billion

Here are three things entrepreneurs should know today. November 1, 2018 1 min read 1. CEOs and founders of big tech companies reportedly lost $61 billion during October’s stock market plunge. Primary shareholders of Facebook, Apple, Amazon, Netflix, Google, Baidu, Alibaba and Tencent took the biggest hit, and Amazon CEO Jeff Bezos lost as much as $34 billion over the course of the month.  2. Waymo is the first company to receive permission to test unmanned self-driving cars in California. That means that as soon as April, the company — which is owned by Google — could test autonomous vehicles without backup drivers on public roads in the state. This milestone could eventually pave the way for self-driving taxis and more.  3. Coca-Cola may have finally figured out a way to convince millennials to drink Diet Coke. The company surpassed investor expectations in its latest earnings report, partly due to people in their 20s and 30s […]

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When Entrepreneurs Post Impulsively, Their Companies Pay the Price. Should Their Social Media Be Regulated?

We’re looking at you, Elon Musk and Brandon Truaxe. October 29, 2018 8 min read It was the tweet read ‘round the world — or at least all of Wall Street.   “Am considering taking Tesla private at $420,” Tesla CEO Elon Musk wrote on the morning of Aug. 7. “Funding secured.”   Those nine words resulted in intense scrutiny, an onslaught of public speculation, a company board review, fraud charges filed by the SEC, two separate $20 million settlements and Musk’s agreement to step down as Tesla’s chairman for at least three years (though he plans to stay on as CEO). It wasn’t the first time the outspoken entrepreneur has ruffled feathers on a wide scale via social media — in 2018 alone, he sparred with Warren Buffett on Twitter, feuded for months with British caver Vernon Unsworth and regularly condemned short-sellers.   Related: Elon Musk’s $20 Million Settlement […]

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The World’s Most Valuable Startup Is a Company You’ve Probably Never Heard of

A recent $3 billion funding round landed Bytedance (parent of TikTok) the title of world’s most valuable startup. October 26, 2018 2 min read In a fourth-quarter upset, China’s Bytedance (parent of music video app TikTok) has overtaken Uber as the world’s most valuable startup. After closing a $3 billion funding round led by Japan’s SoftBank group, Bytedance — which also owns Chinese news aggregator Toutiao and a host of other social media apps — has reached a reported $75 billion valuation. Its closest competition, Uber Technologies, falls $3 billion short of that benchmark, according to CB Insights, a tech market intelligence platform. Uber is reportedly vying for an IPO in 2019 that could boost its value to $120 billion, but Bytedance holds top billing for now. The company did not immediately respond to a request for comment.  Bytedance founder Zhang Yiming launched his startup without any sort of funding […]

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Who Won the Mega Millions Jackpot?

Here are three things entrepreneurs should know today. October 24, 2018 2 min read 1. If you were hoping to win the lottery this week, you’re not alone. Here at Entrepreneur, we even had an office pool. But news has broken that someone in South Carolina had the golden ticket for yesterday’s Mega Millions, which had a total jackpot of $1.6 billion. But it’s too early to call whether this one person will walk away with the full payout or whether there were additional winners.  2. In data breach news, the Yahoo saga continues to unfold. The company, which is now owned by Verizon, has agreed to pay $50 million to settle a class action lawsuit over its 2013 and 2014 data breaches. And since Yahoo waited until 2016 to disclose the breaches, the SEC slapped the company with a $35 million fine in April. Now, Yahoo will also pay up to $35 million […]

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The Creator of WeRateDogs Makes Five Figures a Month By Posting Cute Canines Online. Here’s How.

Matt Nelson rates dogs of all shapes and sizes across social media — and he’s built up a following of more than 7 million. October 24, 2018 9 min read In this series, Instagram Icon, Entrepreneur speaks with the individuals behind popular Instagram accounts to find out the secrets of their success. Matt Nelson launched his future from an Applebee’s. It was 2015, and Nelson, then a college freshman — majoring in “professional golf management,” no less — was with friends and in need of some fast-casual fare. He had been playing around with the idea of a new social media account, where he’d post photos of cute dogs (read: “good bois”) accompanied by witty captions and ratings. There at the table, Nelson posted a poll on his personal Twitter account to gauge people’s reaction, and he recalls an overwhelmingly positive response: 87 percent yes. Nelson snapped a photo of his friend’s dog […]

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Here’s How Things Panned Out for 5 Founders Who Sold to Facebook

Instagram’s founders are leaving Facebook. Here’s what happened to other entrepreneurs who sold their companies to the social media giant. October 22, 2018 9 min read This story was originally published on Sept. 27, 2018, and has been updated.  The past eight months have been some of the most tumultuous in Facebook’s 14-year history. In March, the public learned of Facebook’s user data scandal and the now infamous Cambridge Analytica. The following month, CEO Mark Zuckerberg testified in a series of Congressional hearings. May marked reports that the FBI and Justice Department were investigating the social media giant, and weeks later, more alleged data-sharing partnerships came to light. In July, the company’s stock plummeted almost 20 percent after its quarterly earnings report, and an interview misstep by Zuckerberg — when he mentioned that Facebook wouldn’t necessarily remove content from Holocaust deniers — led to public outcry. By August, a score […]

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Elon Musk Says He’ll Offer Free Underground Tunnel Rides in Los Angeles This December

The Boring Company’s CEO says the first mass transit tunnel will be completed by Dec. 10. October 22, 2018 2 min read In less than two months, Los Angeles consumers may be careening through a two-mile underground tunnel at speeds up to 155 miles per hour. That’s according to Elon Musk, founder and CEO of The Boring Company, who announced the news Sunday — via Twitter, of course. Opens Dec 10 — Elon Musk (@elonmusk) October 22, 2018 Musk, who also runs electric car giant Tesla and rocket company SpaceX, founded The Boring Company in 2016 with the aim to revolutionize mass transit and cargo movement. Musk has said the company spawned from a joke, but whatever its inspiration, the infrastructure and tunnel construction company is now an industry leader — raising close to $113 million in venture funding in April, according to an SEC filing. The company aims to […]

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Here’s How to Download Your Apple Data

On Wednesday, Apple began allowing its U.S. users to download their personal data, such as app usage history, calendars, photos and more. Here’s how. October 18, 2018 3 min read Feeling paranoid about the data big corporations have on you? Now you can see exactly what’s been collected, at least when it comes to Apple. The tech giant — as well as its apps and services — stores information such as purchase and app usage history, calendars, documents and photos, and as of Wednesday, it’s introduced a new way for U.S. users to download their personal data. (The feature was made available to European customers months ago as a requirement of the General Data Protection Regulation.) When you request a copy of your data, Apple says it may take up to seven days to fulfill. (That’s so they can verify it was you — and not an imposter — who asked […]

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Facebook’s Portal Gets Even Creepier. 3 Things to Know Today.

Stay in the know in 60 seconds. October 17, 2018 1 min read 1. Facebook recently announced the launch of Portal, its new smart home device for hands-free video calling. But in the midst of a flood of Facebook privacy scandals, we’ve all learned something new about Portal: It can track information like who you call, how frequently you call them and which apps you use — and that data could be used to serve you targeted ads on other platforms owned by the company.  2. In other security news, two new companies backed by SoftBank are teaming up to keep hackers from accessing your vulnerable smart home devices. (Think lightbulbs and thermostats.) Most devices that fall under the “Internet of Things” umbrella are notorious for flawed security, meaning hackers could use them to spread malware, access user data or gain control remotely.  3. Ride-sharing giants Uber and Lyft may both be […]

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7 Quotes From Rapper T-Pain on Entrepreneurship

The Grammy Award-winning artist’s latest venture: a television show for entrepreneurs. Here’s some of his best advice. October 16, 2018 4 min read What can the newest Star Wars film teach you about launching your own business? Grammy Award-winning rapper T-Pain has the answer. In an interview with Entrepreneur, T-Pain (born Faheem Rashad Najm) said entrepreneurs can learn about frame of reference from actors Donald Glover and Billy Dee Williams, who played the same character — an old friend of Han Solo — in two different Star Wars films. “One of my friends asked me, ‘How did Childish Gambino [Donald Glover] play a better Lando Calrissian than Billy Dee Williams?’” T-Pain said. “I always say it’s because Billy Dee didn’t have a reference. He was a brand-new character. When he did it he was the first one to do it, and Childish Gambino had a reference.” Going all-in on a […]

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Snap Launches 12 Original Shows. 3 Things to Know Today.

Stay in the know in 60 seconds. October 10, 2018 1 min read 1. Snap Inc. is launching 12 original shows in hopes that new original content — in genres like drama, mystery, horror and comedy — will bring back former users and drive up brand loyalty. New shows include Co-Ed, which centers on freshman college roommates, and Growing Up Is a Drag, a coming-of-age story about teen drag queens.  2. Sears Holdings may file for bankruptcy this week, as the company currently owes $134 million in debt that’s due for repayment on Monday. Its annual sales have dropped nearly 60 percent since 2011, and experts say it needs to raise more than $1 billion a year to stay above water.  3. Some scientists are planning to use Crispr, the latest gene-editing technology, to bring back extinct species. We’re close when it comes to carrier pigeons, and one scientist is making progress on his goal […]

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Meet Apple’s New Emoji. 3 Things to Know Today.

Stay in the know in 60 seconds. October 3, 2018 1 min read 1. Apple announced over 70 new emoji, and they’ve gotten mixed reviews. Not only will we be seeing more redheads — plus gray-haired and bald emoji — but we’ll also have a llama and a kangaroo at our disposal. The most controversial release has been the bagel, which consumers say has a “plastic” appearance.  2. The FDA raided the headquarters of Juul e-cigarettes, and yesterday the agency disclosed it seized over a thousand pages of documents. It said teen use of e-cigarettes has reached “epidemic” proportions, and in the raid it was seeking materials tied to Juul’s sales and marketing practices.  3. The freelancers network Upwork goes public today on the Nasdaq at $15 per share, and its IPO raised a cool $187 million. Between June 2017 and 2018, Upwork says it enabled 1.56 billion dollars in gross services, across 2 million projects and 375,000 […]

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Fraud Charges Against Elon Musk Add to an Increasingly Bizarre Year for the Billionaire

Erratic, off-the-cuff online statements by key figures aren’t rare these days, but a new SEC complaint alleges the Tesla CEO took things too far. September 28, 2018 6 min read For Elon Musk, the morning of Aug. 7, 2018, started out like any other. The Tesla CEO woke up, worked out and hopped in the driver’s seat of one of his electric cars. But at 9:48 a.m., while en route to the airport, Musk typed out a now-infamous tweet that sent the markets reeling: “Am considering taking Tesla private at $420. Funding secured.” In the seven weeks since that fateful Tuesday, Musk’s message has resulted in a company board review, a deluge of online speculation and, as of Thursday, fraud charges filed by the SEC. But despite the gravity of the complaint — which seeks to bar Musk from serving as an officer or director of any public company in […]

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U.S. Coffee Consumption by the Numbers (Infographic)

National Coffee Day is Sept. 29. Here are the states with the most and least expensive lattes, the best and worst tippers and more. September 28, 2018 1 min read Scenario: You’re running late for work, with only 10 minutes to get ready. It comes down to a choice: You can either brush your teeth or grab a cup of coffee. Which wins out? If you prioritized caffeine over hygiene, you’re not alone: More than one-third of Americans are in the coffee camp, according to a survey by McCafé. And they don’t often leave it at one cup — American consumers drank an average of almost two cups of coffee per day. That’s a tall order, especially when you take into account that over one-third of Americans spend more money on coffee per year than they do on investing. And morning brew doesn’t always come cheap. When it comes to […]

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Dunkin’ Donuts Announces Big Rebrand. 3 Things to Know Today.

Stay in the know in 60 seconds. September 26, 2018 1 min read 1. In a name change that has a lot of people talking, Dunkin’ Donuts announced that starting in January, it will be known only as Dunkin’. The rebrand is likely a nod to the company’s beverage sales, but it will remain focused on the breakfast pastry.  2. On Monday, the co-founders of Instagram raised a lot of eyebrows by suddenly leaving their roles at Facebook. New reports attributed their departure to potential disagreements with the company — and founder Mark Zuckerberg — over the platform they had built. On Tuesday, the founder of WhatsApp went public implying he left for similar reasons — even though he was likely leaving $850 million on the table.  3. If you were trying to save money by flying on Tuesday, you probably experienced a travel headache. Delta Airlines had a computer […]

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Here’s How to Turn Off Google’s Saved Searches and Personalized Results

Google saves user data to better determine search context, and factors including recent search history can tweak results. September 25, 2018 6 min read What’s the difference between President Donald Trump and a takeout sandwich? For one, it’s how Google treats a search for each. Type “best sandwich shops” into the search engine, and chances are you’ll be presented with top-rated spots in your current zip code. Search “Donald Trump,” and more generally applicable content — recent news hits, the president’s Twitter account and the White House website — receive top billing.  Though we have an idea of how Google prioritizes different sets of search results, the algorithms themselves are a mystery. When it comes to personalized search, though, we do know one thing: The company saves user data, including recent search history, to potentially tweak results based on each individual. For your lunchtime query, if you type only “sub” […]

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This Military Pilot Pivoted From Fighting Wars to Creating Financial Tools for Struggling Americans

Mark Greene started flying combat missions in Afghanistan soon after 9/11. Now, he’s director of an innovation lab serving consumers who feel forgotten by their financial institutions. September 21, 2018 9 min read In this series, The Gambit, Entrepreneur associate editor Hayden Field explores extraordinary risk, speaking with successful people about how they overcame unusual obstacles to found a company or switched industries entirely in a “career 180.” Mark Greene started his path to the Air Force during a time of peace, but when the 22-year-old graduated, he was sent almost immediately to Afghanistan. “I was the class that graduated right after the towers came down,” Greene said. “It was a really strange time to start a career as a military pilot.” The new fighter pilot had just completed a training program in Mississippi, and he began his first day as a second lieutenant — outranking 85 percent of the military. Greene said he remembers […]

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Elon Musk Hit With Criminal Probe. 3 Things to Know Today.

Stay in the know in 60 seconds. September 19, 2018 1 min read 1. The Department of Justice reportedly opened a criminal probe relating to Elon Musk’s infamous tweet about taking Tesla private with “funding secured.” The tweet sent the car company’s shares on the rise at the time. Tesla confirmed it had been contacted by the department.  2. Facebook’s platform allowed companies including Uber to post job ads that are only shown to male users, according to the ACLU. The organization filed a lawsuit yesterday that says Facebook violated the Civil Rights Act by preventing women — and users who don’t identify their gender on Facebook — from seeing some job opportunities. 3. Denmark’s largest bank is embroiled in one of Europe’s worst-ever money laundering scandals. Danske Bank allegedly allowed its operations in Estonia to be used for money laundering from 2007 through 2015 — now, the CEO has announced his resignation and U.S. […]

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Marc Benioff Reached Millionaire Status by Age 25 — and 9 Other Things to Know About the Co-Founder of Salesforce

On Sunday, Benioff and his wife Lynne announced their $190 million purchase of Time magazine from Meredith Corp. September 17, 2018 5 min read Almost 40 years ago, a 15-year-old Marc Benioff sold his first piece of software, called “How to Juggle,” for $75. Now, he’s a billionaire tech mogul and the co-founder of Salesforce, a leading enterprise cloud computing company. With an illustrious list of mentors — including Larry Ellison and Steve Jobs — Benioff set off to launch his company in 1999, working out of an apartment in San Francisco. Almost two decades later, Salesforce’s annual revenue surpassed $10 billion for fiscal year 2018. Here are 10 details from Benioff’s life that begin to paint a picture of the billionaire tech mogul. 1. He cleaned cases at a jewelry store for his first official paying job. Benioff asked his parents for permission to work at the jewelry store […]

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The 5 Best Website Builders for Entrepreneurs — and Which Ones to Use, and When

Looking to create your online portfolio or build a landing page for your business? Here’s where to start. September 14, 2018 6 min read About 71 percent of small businesses had websites in 2017, suggests a survey by Clutch, a business-to-business research firm. If you’re part of the leftover three in 10, there’s no time like the present to get with the program — and get online. Having a dedicated website can be vital to jumpstart marketing efforts, promote consumer trust and serve as a purchasing channel. What’s more, 56 percent of consumers say their purchase decisions stem, in part, from search engine queries, according to Forrester Consumer Technographics data from Q1 2017. As for how to narrow down your options? If you’re looking to boost your online presence, here are some of the best platforms for getting started. WordPress Image credit: WordPress | Entrepreneur What We Love: WordPress is a classic […]

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