Skype and Silver Lake, a large investor, recently fired a bunch of senior executives, allegedly to prevent their stock gaining real value in a forthcoming acquisition by Microsoft
. Digging into the contracts' legalese reveals an obfuscated clause that decodes to something like "we can buy your stock back at the grant price, even if it has vested, prior to any sale of the company." Felix Salmon at Wired:
I no longer think that what Skype did here is pretty evil: I now think it's downright evil, and destroys the balance of trust on which Silicon Valley has been built. What's more, I simply don't believe that Skype did all of this itself, without detailed input from Silver Lake. ... I don't know where they got these techniques from, but they're very alien to Silicon Valley and indeed the rest of the business world. And they do no good at all for the reputation of private equity companies more generally.
Way back in 2011, major American automakers were slow to realize that “companies in Silicon Valley have for some time been looking at cars just like another mobile device or app.” When the disruption, hit, it hit hard, writes Nick Bilton:
This is NASA’s new “space fabric” in development at the Jet Propulsion Laboratory.
Founded in 1970 as Xerox’s R&D division, PARC was a dream factory that brought the world laser printing, Ethernet, the graphical user interface that led to Windows and the Macintosh, ubiquitous computing, and many other technologies that we now take for granted. Why made the place so damn special? Alan Kay, who pioneered networked computing […]
Bamboo has lots of uses beyond just being panda food. Things like bikes, roads, scaffolding, and musical instruments are made from the fast-growing grass. But unless you are participating in a tropical-themed LARP, you probably wouldn’t want a shirt made from bamboo stalks. So why do bamboo bed sheets make any sense? Because yarn extracted from […]
If you want to work in tech, but don’t have any desire to code web apps to help businesses sell things to other business, you might want to consider a career in cybersecurity. Judging from the apparent complete infiltration of Russian hackers in American cyberspace, it seems fair to speculate that there’s a major shortage of […]
All moms are different. But all moms like getting flowers on Mother’s Day, and that’s a fact (not, however a fact we can document in any fashion.) Instead of getting chewed out for forgetting to call her on the second Sunday of May, you can take care of it ahead of time with Teleflora’s flower […]