Month: August 2015

Jeff Bezos responds to NYT article on Amazon work culture

/ peterbohjalian / Leave a comment

For those who missed it in the Sunday Times, the New York newspaper posted a pretty scathing article on the front page of the Business Section, which profiled the intense work culture at internet-giant Amazon. Today, CEO of that company, Jeff Bezos, (among many others) has responded.

In rather candid remarks, the generally well-liked and respected CEO said that he would personally quit any company that operated in the way described in the article, and that ‘anyone working in a company that is really like the one described in the NYT article would be crazy to stay’.

Jeff Bezos. (Via: Business Insider)

Indeed, there were some pretty colorful quotes included in the article, stories that did push the boundaries of believability, but certainly did seem harsh. One ex-‘Amazonian’ said a lasting image in his mind was a grown man crying at his desk after giving a doomed presentation, and one HR rep supposed that when Amazon employees ‘hit the wall’, their only choice is to climb over it. Other, slightly more normal-seeming examples of the intense work environment at the company included late-night emails and texts, and an internal system where employees can report each other anonymously via email to HR for any number of transgressions.

However, after a number of passionate articles were published today from Amazon employees on all spectrums of the hierarchy defending the company and its culture, it’s very clear that not everyone dislikes working at Amazon, and some people seem to truly be thriving.

Price targets for Tesla raised hugely; analysts saying stock could double

/ peterbohjalian / Leave a comment

Via: Source

While there are some pretty vocal skeptics of the company, it is ultimately tough to argue against the seemingly very bright future of Tesla, the luxury-electric automaker.

Every year, emissions regulations are tightened even further by governments around the world, squeezing automakers to create more and more efficient models. And while gas prices have remained low and stagnant through most of 2015, gasoline is ultimately a limited resource, with a price that is always subject to change, for higher, or lower. However, the public’s appetite for beautiful looking, and highly performing vehicles is unlikely to wane as quickly. Thus, the writing is pretty blatantly on the wall that the fully electric automaker is poised to be leader in a potentially massive market.

A number of new reports out of Wall Street this week echo that sentiment, as well. To say Morgan Stanley analyst Adam Jonas is bullish on Tesla would be an understatement. In a new note from Monday morning, Jonas writes that he has increased his price hike on the company’s stock from $280 to $465, citing a number of reasons, the key one of which being an as yet untapped aspect of the business called Tesla Mobility, which is deemed an ‘on-demand, app-based mobility service’, similar perhaps to Uber which itself is valued at over $1 billion.

Also, the automaker is well-positioned to be a leader in not only the electric car industry, but also the self-driving industry as well, an area which many tech giants, and automakers are now exploring. What do you think? Is the sky the limit for Tesla? Or will their growth be limited somehow?

*Insert search ranking joke here*; Google announces massive reorganization, new CEO

/ peterbohjalian / Leave a comment

Google dropped a massive bomb on the tech and business communities late Monday night, as they announced that they will be reorganizing their entire operation, bringing all of their subsidiary companies and side projects under one label, now known as Alphabet.

There are a number of rumors circulating around the web as to the timing of this move, namely that Twitter was preparing a CEO offer for newly-minted Google Chief Exec. Sundar Pichai. But no matter the motivations, or how long the move had been in the works at Google, it is a truly massive one.

Also, while the move is a surprising one, it is a logical one as well. Google, through acquisitions mainly, now owns or helps operate no less than seven separate ventures, not even including their core search, images, maps, etc. business. As previously noted, the company will retain Mr. Pichai as CEO of the core Google business, of which he was already second in command, and in charge of massive sections of the business like Android/mobile.

In terms of leadership of the new umbrella company, Alphabet, Google founders Sergey Brin and Larry Page will run as co-heads. This new organization will over not only the core Google business, but also Calico (health), Google Ventures, Google Capital, Nest (internet-connected home goods), Google X, and their Fiber business as well. In a blog post, it was noted that the purpose of this move was to make their separate businesses easier to organize and run independently. How this all evolves, will certainly be interesting to see.

China surprises everyone and devalues the yuan

/ peterbohjalian / Leave a comment

As has previously been reported both on this site, and elsewhere, it has been an interesting summer for the Chinese economy. And with an announcement coming today out of Hong Kong that seems to have surprised truly everyone, that trend continues.

Indeed, as is being reported by CNN Money and other sources, the Chinese government has moved to devalue the yuan, as the People’s Bank of China is allowing the currency to depreciate close to 2% against the US dollar they announced Tuesday. The purpose for doing this, of course, is to keep export prices attractive, as that sector of the Chinese economy composes about 19% of total GDP.

But of course, the concern here, as alluded to in the embedded video, is a currency war. If China, the largest exporter in their region, has now devalued their currency close to 2%, will other exporters like Viet Nam and Japan be forced to as well? Mr. Woo, in the video, alludes that the effects might be felt as far as European countries like Germany, who’s exports to China account for around 3% of their respective GDP.

China has announced though, that this is a one-time-only move, necessitated by a recent policy change that stipulated that the PBOC will no longer set a daily midpoint value on the yuan, instead setting the price according the previous day’s closing value.

Warren Buffett executes huge, cash deal for Precision Castparts

/ peterbohjalian / Leave a comment

Warren Buffett is known as a brilliant investor, not a flashy one. And his latest deal, the second largest in the history of Berkshire Hathaway, follows not only that one, but many of the legendary investors principles.

As first reported by Bloomberg, and other sources, the investment company, headed up by Buffett, will acquire a leading aerospace hardware supplier, Precision Castparts, for $37.2 billion; almost half of Berkshire Hathaway’s cash.

But although the investment is a substantial one, it appears to be a relatively safe one as well. Precision Castparts pulls in close to $3 billion in pre-tax profits per year, so from a cash flow perspective, this is right in line with where it should be. Furthermore, the company is in an industry with little competition, and has actually moved to successfully acquire many of the competitors they do have, so their marketshare is solid as well. They serve the biggest companies in the aerospace field, including Airbus and Boeing, and obviously, the aerospace hardware industry obviously has some pretty high barriers to entry. Analysts don’t expect Buffet to make many major changes to the operations of his newly acquired company, and his history would support those claims.

The move is indicative of a major change for Berkshire Hathaway though, as the company continues to pivot away from picking stocks, to fully acquiring entire companies. What do you think of the new move? Another savvy one by Buffett, it appears to be.

New ‘Stars Wars; The Force Awakens’ international TV spot debuts

/ peterbohjalian / Leave a comment

Quickly after it appeared on the Korean ‘The Force Awakens’ YouTube page, the newest international trailer for the upcoming Star Wars film has quickly gone viral.

While most of the footage has been debuted already, it really does look amazing. J.J. Abrams is well known for adding a darker, grittier feel to the Star Trek series, and it appears that he may well be giving his new Star Wars film the same treatment.

After some of the sillier aspects of the last trilogy (who signed off on Jar Jar Binks, seriously), a turn toward the darker side of things (pun intended), might be a welcome one by many Star Wars fans.

Fan or not, the new spot is pretty sweet, although brief.

Philanthropic new start up model begins to take hold

/ peterbohjalian / Leave a comment

Via: Source

In recent years, start up companies like Tom’s Shoes and Warby Parker glasses have taken off, not only because they provide stylish goods at affordable price points, but also because they offer a unique bonus for each purchase their customers make.

Both companies have a huge charitable aspect to them; for each pair of shoes Tom’s sells, a child in need gets a pair as well. Same for Warby Parker, except with their glasses. Truly a win-win-win situation.

Now another company is joining the ranks of these philanthropically-minded start ups, a backpack company called Just Porter. Started in 2006 by Chris Bahr, the company was inspired by a humantarian trip Bahr took to the Philippines. While there, he had the idea one day to buy some school supplies for the local children.

(Via LinkedIn)

How happy the children were to receive his donations stuck with Bahr, and now 9 years later, whenever one of his backpacks is sold, the company donates one, filled with school supplies to a child in need. And, business is good.

As we said before, it truly is a win-win-win situation.

The next Game of Thrones? New Westworld teaser debuted by HBO

/ peterbohjalian / Leave a comment

Via: Source

Written by none other than Jonathan Nolan, brother of Christopher, and writer/collaborator on many of the latter’s films, Westworld is set to be the next big-budget HBO show. Whether this new series soars to heights of popularity similar of that to True Detective Season 1, or crashes-and-burns like that of True Detective Season 2, is yet to be revealed.

But, with an amazing cast (or did True Detective Season 2 show a strong cast does not a strong show make?) including Anthony Hopkins, Evan Rachel Wood, Ed Harris, and James Marsden, this one certainly looks promising. A pretty heady premise centering around questions of identity and reality can’t hurt either. Check out the new trailer, which premiered during the finale of True Detective Season 2 last night, below.

Legend eats Chipotle for 153 straight days

/ peterbohjalian / Leave a comment

Via: Source

Fast casual restaurants like Chipotle are becoming more and more popular as the years go by. For a myriad of reasons, consumer seem to be prefering slightly more high end food than has been the norm in years past, as Chipotle, Panera Bread, and others begin to soak up more and more marketshare seemingly everyday.

And that popularity has inspired some seriously intense fans of the Chipotle brand. Take for instance, Andrew Hawryluk, a 23 year old man who recently completed a 153 DAY LONG STREAK of eating Chipotle everyday. His meal of choice? Chicken burrito bowl.

And he has the receipts to prove it. (Via Business Insider)

As noted on Mr Hawryluk’s blog, the entire ordeal (likely not the right word) began on the first day of Lent this year, when he gave up eating everything that WASN’T Chipotle for the 40 day span preceding Easter. However, he found the entire thing so enjoyable, that he kept it going for an astounding 113 days more. His thoughts on the whole thing? “If anything, my appreciation for Chipotle has only increased,” he’s been quoted as saying. Check out the source link at the top of this article for more pictures, and an interview with this living legend himself.

Bill Murray to release new book in the Fall

/ peterbohjalian / Leave a comment

As first reported by Supercompressor and other sources, a new book detailing the life, career, and exploits of none other than Bill Murray himself will be dropping in September. Excited? You should be.

The man has been a legendary actor for decades now, with a career spanning from the earliest years of Saturday Night Live, to Caddy Shack, Groundhog Day, then Ghost Busters, and all the way to, more recently, even dramatic roles like his award-winning turn in Lost in Translation.

“So I got that goin’ for me.” Classic.

But in recent years, he’s become almost as well known for his good natured, and spontaneous antics, documented in a myriad of internet stories. So the book, which is being touted as ‘part biography, part critical appreciation, part love letter, and all fun’, and which spans the entirety of Murray’s career, including every single theatrical performance, is sure to be a seriously entertaining read. We personally, can’t wait.