print-edition iconPrint edition | BusinessApr 27th 2019 | MUMBAIFIREFOX, A WEB browser made by the non-profit Mozilla Foundation, was born as “Phoenix”. It rose from the ashes of Netscape Navigator, slain by Microsoft’s Internet Explorer. In 2012 Mozilla created Firefox OS, to rival Apple’s iOS and Google’s Android mobile operating systems. Unable to compete with the duopoly, Mozilla killed the project.Another phoenix has arisen from it. KaiOS, an operating system conjured from the defunct software, powered 30m devices in 2017 and another 50m in 2018. Most were simple flip-phones sold in the West for about $80 apiece, or even simpler ones which Indians and Indonesians can have for as little as $20 or $7, respectively. Smartphones start at about $100. The company behind the software, als
© Reuters. The logo of China's ZTE Corp is seen on a building in Nanjing By Sijia Jiang HONG KONG (Reuters) - China's ZTE Corp (HK:) reported on Monday a first-quarter profit of 862.6 million yuan ($128.2 million), as expected, up from 276 million yuan in the preceding three months, as it recovered from last year's U.S. sanctions. The world's fourth-largest telecommunications equipment maker by market share also forecast a net profit of 1.2-1.8 billion yuan for the first half of 2019. The quarterly profit was toward the lower end of the company's forecast range of 800 million to 1.2 billion yuan. It reported a net loss of 5.4 billion yuan for the corresponding quarter a year earlier, which booked the impact of a crippling U.S. supplier ban that has now been lifted. Rev
Ultimately, however, the market might not support some forms of journalism. For example, the number of local reporters today is at its lowest point since the 1970s, despite the fact that the U.S. population has grown by 50 percent. Research has shown a direct connection between declining local journalism and less civic engagement. If local news is a public good, it may deserve public support—perhaps in the form of government subsidies. But asking for public assistance might seem like an act of pure desperation.4. Patrons with varying levels of beneficencePublications that were once the crown jewels of publicly traded firms are finding refuge in the arms of affluent patrons. Many legacy titles have already landed with millionaires and billionaires, including Time (bought by Marc Benioff,
At this year’s SaaStock, I presented on one of my favorite topics: how to improve your marketing and sales funnel conversion rates using a deep understanding of what is going on in your buyer’s mind as the navigate through their purchasing process, and experience your marketing and selling. Using the techniques outlined in this presentation, I have been able to help many companies find breakthroughs that led to significant improvements in their funnel conversion rates. Source ...
Ravneet Gill, the new chief executive at Yes Bank wants to increase focus on compliance and governance two critical areas in which his predecessor Rana Kapoor was found wanting to ensure that the bank is on the side of regulator.This indicates that Gill is not only cleaning up the balancesheet which saw the fifth largest private sector lender announcing the first-ever loss of a whopping Rs 1,506 crore over the weekend, but also the governance practices, which led to the ouster of Kapoor by the regulator earlier this year.Among other deficiencies, the RBI had reportedly found serious lapses in governance and poor compliance culture at Yes Bank under Kapoor who was a co-promoter and chief executive, whom Gill succeeded in March after RBI asked to leave by end January due to a regulatory d...
David Abeles breaks down the ways in which TaylorMade is committed to golf innovation. April 27, 2019 1 min read Opinions expressed by Entrepreneur contributors are their own. David Abeles, CEO and President of TaylorMade, chats with host David Meltzer about his long history with the company, some of the new technology in its products and TaylorMade’s focus on innovation in all aspects of the organization.Abeles and Meltzer cover topics such as how the company was founded to revolutionize golf club materials, the intersection of creativity and profitability and how TaylorMade reinvests profits in people and philanthropy. They also discuss TaylorMade’s goal to be the most conne
BEIJING (Reuters) - Criticisms of China’s intellectual property (IP) protection “lack evidence” and IP infringement is a worldwide problem, the head of China’s National Intellectual Property Administration said on Sunday. Critics also ignored the significant progress China has made on IP protection, Shen Changyu told a press conference in response to a question on concerns raised by countries like the United States. “Some countries’ criticisms of China’s IP protection lack evidence and are non-specific,” Shen said. IP protection has been a topic of “deep concern” in ongoing Sino-U.S. trade negotiations and China would take further measures to comprehensively strengthen its IP protections this year, he said. The measures will include amending China’s IP laws to increase the cost for infr
AMERICA MAY be the land of free-market competition. But look up at the sky and Europe looks freer. The European Union is home to 135 scheduled airlines; America has 59. The five biggest carriers in America control around 70% of the market; the EU’s top five barely hold half. Concentration has resulted in poorer service: three American operators can be found on the list of the world’s 50 best carriers, as rated by Skytrax, an aviation website, compared with 13 European ones. As predictably, it has benefited shareholders, who earn three times as much for every frazzled passenger as those in Europe (see chart). Signs of American-style consolidation will therefore please Europe’s capitalists as much as they worry competition authorities—and flyers.European skies have grown less crowded of l
© Reuters. Protesters react to tear gas at a demonstration during the Act XXIV (the 24th consecutive national protest on Saturday) of the yellow vests movement in Strasbourg PARIS (Reuters) - French police fired tear gas to push back protesters who tried to march towards the European Parliament building in the eastern city of Strasbourg on the 24th consecutive weekend of protests against President Emmanuel Macron's policies. The so-called "yellow vests" protesters were back on the streets across France two days after Macron outlined policy proposals including tax cuts worth around 5 billion euros ($5.58 billion) in response to the protests. The protests, named after motorists' high-visibility jackets, began in November over fuel tax increases but has morphed into a some
Start with Boeing. The price of the company’s stock fell more than 10 percent, which represented nearly $30 billion of the company’s market value, in the days after the crash. One of investors’ worries is that the reputation of the 737 Max—which was also involved in a crash last fall in Indonesia—is now tarnished to the point that it will hurt demand for the plane. This is no small concern: The 737 Max, a jet that costs more than $100 million, is Boeing’s all-time best-selling aircraft, and the company is lined up to sell several thousand more. If airlines cancel their orders, Boeing would stand to lose billions of dollars. (The company did not respond to an interview request.)Volodymyr Bilotkach, an economist at Newcastle University and the author of The Economics of Airlines, says tha
For the seventh year in a row, we’re proud to work with KBCM Technology Group (formerly Pacific Crest Securities) to share results from a survey of ~385 private SaaS companies. Thank you to the readers of forEntrepreneurs who participated in taking the survey! Thank you also to David Spitz (@dspitz) and the team at KBCM Technology Group for their work on the survey. Part One will look at the following (The full report can be downloaded here): Survey Participant CompositionGrowth RatesGo-To-Market and Sales and MarketingCAC Rations and CAC PaybackRepresentative statistics on the survey participants $6.7MM median 2017 Ending ARR, with 81 companies >$25MMMedian organic growth in ARR in 2017 was +52% and +35% for companies >$25MMMedian Employees (FTEs): ~70Media
Photo courtesy of Nicole Chan Studios The Entrepreneurs’ Organization (EO) is committed to helping entrepreneurs learn and grow to new levels of leadership by providing learning opportunities, mentorship and access to experts. Mike Tucci, Kris Porcaro and Jordi Mullor of EO Boston-member company and chapter partner, Lexington Wealth Management, recently organized an event where EO members spent the day with Alex Honnold, the renowned rock climber who became the first person to summit Yosemite National Park’s El Capitan “free solo”—using only his hands and body without help from ropes, harnesses or other safety gear. Alex’s epic athletic achievement is documented in the film Free Solo, which portrays his journey through training, fear, indecision and finally successfully scaling El Cap
Debt-laden Jet Airways' Chief Executive Officer (CEO) Vinay Dube told the airline's staff on Friday that its lenders are unable to make any salary commitments until after the bidding process is complete.In a letter to its employees, Dube said that "We have told them repeatedly that our employees are facing grave hardships owing to non-payment of their salaries and that if this were to continue any longer, our employees will have no option but to find employment elsewhere."He said that the top leadership has spent the last few days trying to convince the consortium of Indian banks to release some funds for our employees, while continuing to support the bank led bid process for Jet Airways. "We face this reality despite our best efforts to portray the very real suffering that is being end...
Nobody can pronounce his name, but everyone finds him intriguing. April 26, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Mayor Pete Buttigieg, the 37-year-old openly gay mayor of South Bend, Indiana with a hard-to-pronounce last name (according to his Twitter profile, it’s pronounced “BOOT-edge-edge”) is running for president of the United States. “Mayor Pete” has been getting lots of media attention and his campaign is raising significant money. Even a few months ago, Buttigieg was virtually unknown outside of Indiana, and most people assumed that a small-town mayor would be a long shot candidate, but he’s quickly rising to the top tier of co
The entrance sign to the Uber Greenlight Hub is seen in the Brooklyn borough of New York, U.S., April 12, 2019. REUTERS/Shannon Stapleton/Files(Reuters) - Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported. PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources. A financial services component is important to Uber as it works to expand into a “superapp” of logistics and transportation services. Superapps are applications where customers go for a range of services, such as transportation, shopping and payments. Such companies can be much more lucrative than tho
THE WORLD’S oldest tour operator is looking for a place in the shade. Since September, when it announced the first of two consecutive profit warnings, Thomas Cook’s share price has fallen by nearly two-thirds. The British company, which sells flights, hotel rooms and tours to 20m holiday-makers, is saddled with £1.4bn ($1.8bn) in debt, three times its market value. IHS Markit, a data provider, estimates that 8% of its stock has been borrowed—typically a signal that short-sellers are circling.Easter brought some solace, if only because Thomas Cook’s low valuation has made it an increasingly tempting takeover target. Its shares rose by 18% on April 23rd, after Sky News reported that Fosun, a Chinese conglomerate that is its largest shareholder, and two buy-out firms were interested in par
© Reuters. FILE PHOTO: United Nations Special Representative of the Secretary-General for Afghanistan Tadamichi Yamamoto delivers a speech during the UN conference on Afghanistan in Geneva KABUL (Reuters) - The United Nations' top official in Afghanistan met the Taiban's chief negotiator in Qatar on Thursday, the movement's chief spokesman said, as moves continue to try to start full peace negotiations to end more than 17 years of war. The head of the U.N. Assistance Mission in Afghanistan (UNAMA) Tadamichi Yamamoto met Mullah Baradar Akhund and other members of the Taliban's negotiating team in the Qatari capital Doha, the movement's spokesman Zabihullah Mujahid said. Discussions centered on "the ongoing peace process, civilian casualties and humanitarian aid in areas
The game-show experts I talked with stressed that the integrity of Jeopardy is unassailable, and that the existence of cheating or bad-faith manipulation is out of the question. Still, there are ways the producers could think about trying to oust Holzhauer, or at least reduce the amount he wins each episode. (A representative of Jeopardy told me that the show’s producers wouldn’t comment on Holzhauer’s performance while shows he’s on are airing.)One strategy might be to figure out Holzhauer’s weakest categories, and load up the board—and, ideally, Daily Doubles and the Final Jeopardy clue—with them. But Hammett thinks this would be difficult to pull off. “Those [categories] seem so few and far between. You certainly can’t make an entire game out of those,” he says. “It would probably be
I presented on two topics at WebSummit 2018 in Lisbon on November 6th. The slides and videos of those two presentations can be found below. The videos are provided courtesy of WebSummit. Special bonus: for those interested in the fun side of life, I have added a video that I put together walking around the streets of Lisbon. You will find it at the end. What a fabulous city! 9 Secrets for Startup Success, A roadmap for B2B Founders Lean Startup taught the world how to find product/market fit, but in the B2B world that isn’t enough. B2B founders must then find a way to build repeatable, scalable and profitable growth before they are ready to step on the accelerator and grow at high speed. In this talk, five-time serial entrepreneur and author of the ForEntrepreneurs
The following article originally appeared on the BerniePortal blog, as part of its human resources (HR) best practices blog series. BerniePortal is a human resources platform developed by EO member Alex Tolbert. Navigating the world of human resources (HR) can be overwhelming. That’s why we’ve created a blog series to answer common HR questions. To help answer each question and define best practices, we have three HR heroes with very different approaches to HR: Bythe Booke, Sam Blackheart and Peggy Prag. You may find yourself relating to one (or more) of our heroes depending on the given situation. To see full descriptions of each character, reference our first blog of the series using this link. Last week we covered, “Do I have to offer the same health insurance benefits to everyone?
The Reserve Bank of India has exited the National Housing Bank (NHB) and the National Bank for Agriculture & Rural Development (Nabard), by selling its entire stakes to government for Rs 1,450 crore and Rs 20 crore, respectively, making them fully government-owned now.The central bank has sold its stake in NHB on March 19, while it sold the stake in Nabard on February 26, the bank said in a statement Wednesday."With this divestment, the government now holds 100 percent stake in both these financial institutions," RBI said in a statement.The move is part of ending the cross-holding in regulatory institutions and follows the recommendation of second Narasimham committee report of October 2001 and the RBI's own discussion paper on the same entitled 'Harmonizing the role and operations ...
If two businesses are pretty much the same, why would anybody work for or buy from the one run by a jerk? April 24, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own. The success of a business is due in large part to the personalities of the people who run it. You can have the most amazing, innovative ideas, but if you have a toxic personality that repels even your most loyal customers and most diligent employees, you may be singlehandedly costing your business time and money.As a manager or leader in your business, it’s important to recognize that you wield influence over your company, which can either help make or break your business. Much of that
SHANGHAI (Reuters) - Equity markets in Asia faltered on Wednesday, amid losses in South Korea and worries that China has put any further stimulus on hold as the economy shows signs of regaining its footing. FILE PHOTO: A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China February 13, 2019. REUTERS/Stringer MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5 percent lower, erasing early gains in the wake of record closing highs on Wall Street overnight. The biggest regional loser was South Korea’s KOSPI, which was down 1.3 percent. Investors shrugged off the government’s proposed supplementary budget aimed in part at supporting exports, and worried after chipmaker Texas Instruments said it expects
“WHEN YOU reach for the stars, you might not quite get one,” Leo Burnett once mused, “but you won’t come up with a handful of mud either.” The storied ad man could have been talking of the purchase by Publicis—the French owner of ad agencies like Saatchi & Saatchi, Publicis Media and, yes, Leo Burnett—of Epsilon, an American data-marketing business, announced on April 14th. The $4.4bn deal is the firm’s largest since it was founded in 1926.On its face, the move looks sensible. Advertisers are keen to amass customer data and the tools to analyse them. Epsilon provides both. The company gathers data—from promotional emails, browsing, transactions in physical shops and so on—to build detailed profiles of consumers, so advertisers can woo them more precisely. Publicis hopes this will gi