Apple sells 5 million iPhone 5 units during week one; why it's hip to be Square.
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Apple sold more than 5 million iPhone 5 phones since the highly anticipated device went on sale on Friday, setting a new sales record for the device, Apple announced Monday.
Over the weekend, the company outpaced the 4 million iPhone 4S units that it sold during last year's opening weekend, though the numbers are a bit skewed. This year's iPhone was simultaneously launched in the United States, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the United Kingdom, while last year's launch did not include Hong Kong and Singapore.
Facebook is worth $15 [BARRON'S]
Facebook's 40% plunge from its initial-public-offering price of $38 in May has millions of investors asking a single question: Is the stock a buy? The short answer is "No." After a recent rally, to $23 from a low of $17.55, the stock trades at high multiples of both sales and earnings, even as uncertainty about the outlook for its business grows.
Another coworker that was a project lead at Google Maps, left for the East Coast after his contract ended, and was recently contacted by an Apple recruiter. The position sounds like a product development manager position, and will pay him $85k+ and all the moving expenses from the East Coast. He's gone through 2 rounds of interview and seems like a frontrunner to land that position.
For Twitter founder Jack Dorsey, these days it's hip to be Square Inc. [THE WALL STREET JOURNAL]
Square's revenue rose to roughly $42.5 million in 2011, from $2 million in 2010, according to PrivCo.com Inc., a New York research firm that provides data about private companies. Square declined to confirm revenue figures.
Startup = Growth [PAUL GRAHAM]
Starting a startup is thus very much like deciding to be research scientist: you're not committing to solve any specific problem; you don't know for sure which problems are soluble; but you're committing to try to discover something no one knew before. A startup founder is in effect an economic research scientist. Most don't discover anything that remarkable, but some discover relativity.
The indomitable Mary Meeker [WIRED]
Now everybody listens. Since the mid-2000s, her annual info-packed presentation on the state of the Internet has become a tech industry event in its own right. Meeker has nailed the most important dynamics of the tech and investment climate, from the spread of mobile computing to the rise of China. She gave her most recent address—99 slides in about 19 minutes—at last May's All Things Digital conference. In it, she focused on the idea that nearly every conceivable human activity was in the process of being transformed—connectivity (mobile phones), cash registers (Square), manufacturing (3-D printers), window shopping (decor site One Kings Lane), and even education (Codecademy). Her Majesty dubbed this trend "the reimagination of everything."
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* Bloomberg reports that Apple is considering a bid to snap up online TV streaming service Hulu -- doing so could cost the tech giant (or any other interested party) more than $2 billion. (Bloomberg)
* In other Apple news, more than one million copies of OS X Lion were MOREJP Mangalindan, Writer - Jul 22, 2011 9:01 AM ET
Yours truly talks about Time Magazine, Steve Jobs and a 15-year case of writers block
In February this blog profiled Dan Benjamin, the talk show impresario whose 5by5 Internet Broadcast network has become destination listening for hundreds of thousands of Apple (AAPL) devotees.
Now he has returned the favor. He invited me to be a guest on The Pipeline, an interview show he describes as "in-depth conversations with innovators, designers, geeks, MOREPhilip Elmer-DeWitt - Apr 5, 2011 2:41 PM ET
In this episode of Techmate, Jon Fortt and Philip Elmer-Dewitt discuss Apple's (AAPL) new iPhone, and explain how the company's focus has shifted from computers to mobile devices. Plus, find out what the new phone means for tech titans like Intel (INTC), Google (GOOG) and Cisco (CSCO).
>Mason Cohn, Producer - Jun 7, 2010 8:07 PM ET
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