CEOs Gave Up Fortunes To Turn Half Their Employees Into Millionaires

There’s a startup in New York everyone talks about, and the things they say aren’t very nice.

 The startup sold for ~$80 million and the founders got rich. But, as the rumors go, no other employee made more than $50,000.

That’s a common exit scenario. The founders put in a lot of risk in the beginning, and they alone get wealthy if their company is a success.

But we found a few seasoned founders have begun to set a different precedent. Their goal — in addition to creating strong products and strong financial outcomes for themselves — was to create great outcomes for the people they worked with, even if their options hadn’t fully vested. As a result, these CEOs turned one-third to one-half of their employees into millionaires when their startups sold for hundreds of millions of dollars.

Read more: http://www.businessinsider.com/non-greedy-startup-ceos-who-turned-employees-into-millionaires-2014-9

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    Source : https://medium.com/i-m-h-o/good-and-bad-reasons-to-become-an-entrepreneur-decf0766de8d Recently we hosted a Q&A at Asana that I participated in with Ben Horowitz, Matt Cohler, and Justin Rosenstein. Marcus Wohlsen from Wired attended and wrote an article that discussed our views on the culture of entrepreneurship in Silicon Valley. This is an important topic, so I want…
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Warning sign :: Chinese property developers borrow at record pace

Global investors are lending money to Chinese property developers in record amounts this year, in spite of a deteriorating housing market and warnings from rating agencies over the state of the sector.

Offshore bond issuance from mainland property companies is on track for a record year, with $18bn of debt sold year to date, according to Dealogic – fast approaching the $19.5bn total for all of 2013. The year’s biggest deal came in July, when Sino-Ocean Land borrowed $1.2bn in the dollar bond market.

The rise in offshore borrowing has coincided with tighter credit conditions within China that have forced developers to look overseas for funding.

Beijing has been trying to reduce leverage in the domestic economy following a period of rapid credit expansion. As a result, banks have cut back on lending to certain sectors and the growth of alternative funding channels such as trust loans has slowed.

Falling housing sales have also hit the most important cash generator for developers. Sales have dropped 8.2 per cent so far this year by value, while price cuts introduced to entice buyers have dented margins.

Read more here : http://on.ft.com/1rc70Ey via @FT

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Swiss National Bank’s foreign exchange reserves inched higher in August. That may change soon

The Swiss National Bank’s foreign exchange reserves inched higher in August, data showed on Friday.

The SNB held 453.799 billion Swiss francs in foreign currency at the end of August, compared with 453.353 in July, revised from an originally reported 453.391 billion, preliminary data calculated according to the standards of the International Monetary Fund showed.

The SNB capped the soaring franc in September 2011 to help stave off recession and the threat of deflation and was forced to intervene heavily in 2012 as the euro zone crisis flared, swelling its already large foreign currency reserves.

But with low EurChf we may see a big change soon 

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THINGS TO WATCH IN FRIDAY’S JOBS REPORT

The Labor Department’s initial estimate of August job growth on Friday is expected to show another solid month of hiring. Economists surveyed by The Wall Street Journal forecast the economy added 225,000 jobs, which is roughly in between the 12-month average of 214,000 and the 3-month average of 245,000. The unemployment rate is expected to drop to 6.1% after ticking up to 6.2% in July. Beyond those headline figures, here are five things to watch on Friday.

Read the 5 things to watch here :  http://blogs.wsj.com/briefly/2014/09/04/5-things-to-watch-in-fridays-jobs-report-2/

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ECB’s latest actions will be felt around the world

In announcing a new round of extraordinary measures to support the euro-area recovery, the European Central Bank is sending three loud and unambiguous messages. Their implications extend well beyond Europe.

First, it is committed to experimenting even more with its use of unconventional monetary policy, including by taking the deposit rate even more negative and starting a program to purchase asset-backed securities.

Second, it is positioning itself for full-scale quantitative easing — but on the condition that European governments show more flexibility on fiscal policy and put into place the structural reforms needed to support healthy growth.

Third, it isn’t too worried about a multitrack world of central banking, in which its policy loosening contrasts with moves by the U.S. Federal Reserve, the other systemically important central bank, to remove monetary stimulus.

http://www.bloombergview.com/articles/2014-09-04/what-the-ecb-s-moves-mean-for-the-world

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Webcast of the press conference 4 September 2014

Press conference following the meeting of the Governing Council of the European Central Bank on 4 September 2014 at its premises in Frankfurt am Main, Germany, starting at 2:30 p.m. CET:

  • Introductory statement by Mario Draghi, President of the ECB.
  • Question and answer session. Registered journalists pose questions to Mario Draghi, President of the ECB, and to Vítor Constâncio, Vice-President of the ECB.

https://www.ecb.europa.eu/press/tvservices/webcast/html/webcast_140904.en.html

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    Press conference following the meeting of the Governing Council of the European Central Bank on 6 March 2014 at its premises in Frankfurt am Main, Germany, starting at 2:30 p.m. CET: Introductory statement by Mario Draghi, President of the ECB. Question and answer session. Registered journalists pose questions to Mario…
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Everything we thought we knew about the economy was wrong

“There are no facts, only interpretations”, Friedrich Nietzsche once said. One needn’t be a nihilist or a relativist to be bemused at the latest radical rewriting of history from our official number-crunchers. Everything we thought we knew about the British economy’s performance over the past 15 years or so now turns out to be wrong. Endless articles, books and academic papers have become worthless at the stroke of the statisticians’ pen.

The reason, needless to say, is that the rules have changed, yet again. The way the national accounts, the GDP statistics and the rest are calculated has been torn up. International statisticians are making a greater effort at including the output of the sex and illegal drug industries and of charities; they are also changing the way research and development and elements of defence spending are accounted for.

The implications from all of this are huge. The peak-to-trough collapse in output as a result of what has been called the Great Recession has been substantially reduced: GDP collapsed by 6pc, not the 7.2pc previously thought. That is still a very big drop, of course, but it is now almost identical to the recession of the early 1980s, when GDP fell by 5.9pc as Lady Thatcher sought to wean Britain from its high inflation

http://www.telegraph.co.uk/finance/economics/11073744/Everything-we-thought-we-knew-about-the-economy-was-wrong.html

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THINGS TO LOOK OUT FOR AT THURSDAY’S ECB MEETING

Mario Draghi has set the bar high for the European Central Bank’s next meeting Thursday.

The bank president’s warning about reduced inflation expectations, made in a speech on Aug. 22, fanned hopes that the ECB may announce additional stimulus measures to boost economic growth and prices.

A report Friday showing annual eurozone inflation weakened to 0.3% in August, well below the ECB’s 2% target, raised fears that Europe is sliding toward deflation.

But Mr. Draghi faces some complicated choices. Interest rates are at record lows. Quantitative easing is highly controversial. And new four-year loans to banks are due this month, meaning there is already stimulus in the pipeline.

Here are five things to watch on Thursday.

http://blogs.wsj.com/briefly/2014/09/02/5-things-to-look-out-for-at-thursdays-ecb-meeting/

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DESIGNER, DEVELOPER, DATA SCIENTIST ARE ALL PREDICTED TO BE IN-DEMAND JOBS IN THE COMING YEAR. HOW TO LAND ONE? NOT THE WAY YOU THINK.

Two years ago, I asked a college-bound 18-year-old what kind of job she’d like to have after earning her degree. “I don’t know,” she told me, adding, “I don’t think it’s been invented yet.”

Turns out, she was probably right. Though the Bureau of Labor Statistics expects health care and construction jobs to grow as baby boomers age in greater numbers and the economic rebound gives people the confidence to build new homes, the jobs of the future aren’t so easily defined.

According to a recent study by online job matching service TheLadders, the fastest growing jobs are in user experience design, iOS and Android development, andbusiness intelligence–some of which didn’t exist before 2007.

The study, which gathered key word search data from among its 6 million members, also found that middle management jobs are being phased out. Among the top 10% of growing jobs, less than 2% of titles contain the word “manager” or “director,” which points to a trend that you can still be a professional in a high-paying position, but the end game isn’t a gold plaque with a management title tacked to your name.

Mark Newman, CEO of digital interviewing service HireVue, says the company is witnessing similar trends as it helps place people with companies such as Hilton, GE, Chipotle, and others. “Overall, HireVue is seeing that jobs of the future are design and data scientist jobs,” he says.

WHEN YOUR COLLEGE MAJOR TAKES YOU SOMEWHERE COMPLETELY DIFFERENT

As it turns out, the path to these in-demand positions is as new as the jobs themselves. Though plenty of design jobs are filled by those with graphic design skills, Newman points out, “HireVue has seen that those with backgrounds in psychology and anthropology are also very successful, as they have skill sets that serve them very well in the field, including attention to detail, user empathy and visual design skills.

http://www.fastcompany.com/3034871/the-future-of-work/jobs-of-the-future-where-they-are-how-to-get-them

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The Spanish government Monday launched its long-awaited 50-year bond

The Spanish government Monday launched its long-awaited 50-year bond, stretching the maturity of the country’s debt into new territory, the finance ministry said. The country raised 1 billion euros ($1.31 billion) through a so-called private placement, meaning the bonds were sold directly to specific investors.

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