Lawsuit: Getty Images copyfrauded 47,000 photos from indie press agency Zuma

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Photographer, public domain enthusiast, and national treasure Carol M Highsmith is suing Getty Images for $1B because they took the photos she'd donated to the Library of Congress and started asking people who'd used them to pay for them (they even sent Highsmith an invoice!); now it turns out that Highsmith is not alone: independent news agency Zuma is suing Getty for doing the same thing with 47,000 of their images. Read the rest

Nobel-winning economist Joseph Stiglitz calls Apple's tax strategy a "fraud"

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2001 Nobel laureate in economics Joseph Stiglitz has a long history of being on the right side of history. For example: pricing the Iraq war at $3T; raising the alarm about sovereign wealth funds acquiring US debt; nailing the double-standard on bailouts for debt crises (and the way that this destabilizes poor countries); sounding the alarm about austerity in times of recesssion; coming out early and strong over wealth concentration; calling for the imprisonment of the top executives at Barclays bank; and damning the TPP as "the worst trade deal ever." Read the rest

Dark Patterns: why do companies pursue strategies that make their customers regret doing business?

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In this 30 minute video, Harry Brignull rounds up his work on cataloging and unpicking "Dark Patterns," (previously) the super-optimized techniques used by online services to lure their customers into taking actions they would not make otherwise and will later regret. Read the rest

Silicon Valley banks offer tech giants' new hires 100% mortgages on 24 hours' notice

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What to do if you've just signed up to work in one of the most expensive real-estate markets in the world, with almost all of your net worth tied up in illiquid shares in your employer's company? Just ask a Silicon Valley bank for a 100% mortgage, which they'll cheerfully supply on 24 hours' notice, with all the "white-glove service" trappings you could ask for. Read the rest

Patent fighters attack the crown jewels of three of America's worst patent trolls

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Unified Patents raises money from companies that are the target of patent-trolling and then uses it to challenge the most widely used patents in each of its members' sectors: now it's going for the gold. Read the rest

Highest-paid CEOs generate lowest shareholder returns

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In Are CEOs paid for performance? Evaluating the Effectiveness of Equity Incentives, a new study from MSCI, researchers compared the salaries of 800 US CEOs of large and medium-sized companies to the returns to their shareholders during their tenure. Read the rest

Yahoo sale: are Flickr and Tumblr doomed?

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Verizon yesterday bought Yahoo, which had earlier bought Flickr, a photo-sharing site, and Tumblr, a blogging platform. Both of these places have three key qualities that raise important questions about their survival: 1) they're both oldschool platforms locked in time because they were bought by Yahoo, 2) both still have vast, dedicated userbases, 3) both have unique cultures that will be invisible to Verizon's legendarily banal middle-management culture.

Flickr tried modernizing a few years ago to compete with Instagram and other fresh social-driven competitors, but had atrophied so much since the 2005 takeover by Yahoo that it couldn't recapture the lead.

Yahoo seemed to listen, at least fleetingly. The company finally released some functional mobile apps and started offering a terabyte of storage space to users for free, but it was too little too late.

For Ward, Yahoo was desperately trying to appeal to the Instagram generation, and in doing so started to alienate the site’s core users, many of whom were professional photographers. “We all had a lot of hope that Yahoo would be able to bring it back to life, but the changes that were introduced took away things we really loved,” she said.

“When we gave feedback it felt like no one was listening. It was a little bit insulting to people who had been using it so actively for so many years. We were clearly not the target audience any more.”

Tumblr, meanwhile, is neck-deep in smut and self-absorbed blather and other things likely to terrify suits—but its also one of the net's last safe redoubts for young women. Read the rest

UK gives OK to Amazon for drone delivery exploration

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Amazon.com says it has entered into a partnership with the British government to get the nation's aviation authority approval for deliveries via small drones.

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Study: top bank execs saw the crash coming and sold off shares in their own institutions

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In a new working paper from the Center for Economic Policy Research, scholars look at the trading records of shareholders, directors and top executives of major financial institutions in the runup to the crash of 2007, and find that the sell-offs by the top five executives at a bank strongly correlated with that bank's losses in the crash, but that other stakeholders' trading do not correlate: in other words, the very top brass of banks knew that they were sitting on piles of worthless paper and sold before anyone else knew about it, and kept their shareholders, direct reports, and the board of directors in the dark. Read the rest

Middle aged Singaporean media regulators rap about the national public-private content strategy

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In 2007, Singaporean blogfather Mr Brown discovered this video, which is literally the most best thing you will ever see, this week: middle-aged Singaporean government officials rapping(ish) about the nation's public-private partnership strategy, with fresh rhymes like "They call me CEO, hear me out everyone/My aim, a vibrant media-hub for the city/Singapore-made content can be number one/Media choice and jobs for everyone." Read the rest

Modern Farmer on how the DMCA takes away farmers' rights over their tractors

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In spring, 2015, American farmers started to spread the word that John Deere claimed that a notorious copyright law gave the company exclusive dominion over repairs to Deere farm-equipment, making it a felony (punishable by 5 years in prison and a $500K fine for a first offense) to fix your own tractor. Read the rest

The healing power of ayahuasca

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Michael Costuros is an "executive coach" in California's Marin County (birthplace of the hot tub) who every year takes a group of entrepreneurs to South America on a trip within a trip. Each spends $10,000 to hopefully leverage "the healing power of ayahuasca," Costuros says. From Chris Colin's feature in California Sunday:

Chris Hunter, co-founder of the company behind the alcoholic energy drink Four Loko, signed on in hopes that it would help him navigate some sticky professional relationships. Jesse Krieger, publisher of Lifestyle Entre­preneurs Press, wished for insight into growth strategies. Other participants included the founder of a financial technology company, the scion of a footwear empire, and a firearms executive looking for a pivot. Under the guidance of Costuros and a local shaman, they would participate in a San Pedro ceremony — San Pedro is another powerful plant-based psychedelic — followed by two separate ayahuasca ceremonies....

The participants — all men this year — spent their first day traveling to the retreat center, getting situated, and enjoying massages. At 8 a.m. the next day, they assembled in a small, open-air structure. Following an initial cleansing ceremony, they drank their first batch of medicine (fermented wheatgrass and dirt is how Krieger described the taste) and lay down on thin mats under a thatched roof. There they’d remain for ten hours.

The first 60 minutes of the ayahuasca ceremony felt like two weeks for (AirHelp CEO Henrik) Zillmer. Uncontrollable vomiting and feverish shivering aside, he was unable to move and watched helplessly as his mind departed his body and descended into a vast black hole.

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Movie tickets are at an all-time high

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The average price of a US movie ticket hit $8.72 during 2016's second quarter, the highest they've ever been -- in possibly related news, ticket sales were down 9.5% in the same period. Read the rest

Surprise: Copyright trolls rip off the rightsholders they supposedly "represent"

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The copyright troll business-model: a sleazy lawyer gets copyright holders to one or more films (often, but not always, porn) to deputize them to police those rights; then the lawyer's company uses sloppy investigative techniques to accuse internet users of violating those copyrights; they use deceptive notices to get ISPs to give them contact details for those users (or to get the ISPs to pass notices on to the users); then they send "speculative invoices" to their victims, demanding money not to sue -- usually a sum that's calculated to be less than it would cost to ask a lawyer whether it's worth paying. Read the rest

It's official: the Olympics result in the worst budget overruns of any megaproject

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In "The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games," three researchers from the University of Oxford's Said Business School examine the cost estimates and actual costs of every Olympic games since 1960, and finds that they are the most likely of all megaprojects to exceed their estimates, and also exceed those estimates by the largest amount of any megaproject. Read the rest

Vivendi lobbyist appointed to run copyright for UN agency

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Francis Gurry, the fair-use hating, web-hating, North Korea embargo-breaking, witch-hunting, blackmailing head of the UN's World Intellectual Property Organisation (WIPO) has a new pick to run copyright at the UN agency: Sylvie Forbin, a lobbyist for for French entertainment giant Vivendi. Read the rest

Amazon is full of Chinese counterfeits and they're driving out legit goods

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When Amazon decided to allow Chinese sellers to direct-list their products on the service (rather than going through domestic importers), it was seen as a defensive move against Alibaba, their deep-pocketed Chinese rival and vendor of everything from legit gadgets to crime supplies. Read the rest

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