“The U.S. National Security Agency knew for at least two years about a flaw in the way that many websites send sensitive information, now dubbed the Heartbleed bug, and regularly used it to gather critical intelligence, two people familiar with the matter said. The NSA’s decision to keep the bug secret in pursuit of national security interests threatens to renew the rancorous debate over the role of the government’s top computer experts.”—NSA Said to Exploit Heartbleed Bug for Intelligence for Years - Bloomberg
“So much for focus. Just three years ago, Zuckerberg was stressing that Facebook would always focus on the Facebook platform. With these moves, Facebook is evolving from a single-purpose social network to a corporate conglomerate.”—Zuckerberg On Focus - Business Insider
“We think the biggest media companies of this generation are being built right now. Every generation has its own set of brands on mediums that are built specifically for them: magazine brands, TV brands, and now Interactive brands.”—Jim Bankoff Q&A - Business Insider
“Nobody was doing accounting reconciliation and there was an exploitable fault in the transaction system that allowed people to get paid twice—or in other words, withdraw more or less the same amount of Bitcoins two times. In particular, there seemed to be a system glitch that made it possible to get a payment reissued even after it had been already received…It appears Mt. Gox might not only have leaked money through a bug, but might have also accidentally thrown away Bitcoins.”—Inside Japan’s Bitcoin Heist - The Daily Beast
“We are building a new financial order, and those of us building it, investing in it, and growing it, will pay the price of bringing it to the world. This is the harsh truth. We are building the channels, the bridges, and the towers of tomorrow’s finance, and we put ourselves at risk in doing so.”—Erik Voorhees MtGox - Business Insider
In December, I gave my kids $20 for a toy store trip and they picked out $90 worth of stuff. They had no concept of money. They didn’t know if our house cost $2,000 or $2 billion. So I started making them pay for small things — Starbucks, Jamba Juice, pizza, whatever — hoping they’d slowly understand the concept of worth.
I think it’s working. When we attended Monday-night Raw in L.A. last week, I gave them a $100 salary cap on whatever they wanted. They spent $60 on two T-shirts, $13.50 on pretzels and popcorn, and $9 on two Icee Cokes, leaving me $17.50.
Here’s the point: THIS ISN’T HARD. But had I brought Joe Dumars along as a spending adviser, they would have ended up with a $50 Rey Mysterio mask that my son already has, two T-shirts that were the wrong size.
“Dong Nguyen, on the other hand, must have questioned if the world had lost its mind. On February 1st, reviews exploded to 800 in a single hour. 6,500 iTunes App Store reviews in a single day. This is the same app no one cared about for more than half a year. Just one month prior, it was a great day if Flappy Bird got 20 total reviews on the App Store. Up until January 9th, there had never been an hour in which Flappy Bird received even 10 reviews. After that, the rest is history.”—Flappy Bird by the Numbers
“[Philip Seymour Hoffman] did not die from an overdose of heroin — he died from heroin. We should stop implying that if he’d just taken the proper amount then everything would have been fine.”—Aaron Sorkin (via tedroden)
“This reeks of the same Knicks exceptionalism that got them into this mess in the first place. In the summer of 2010, the Knicks believed they could entice LeBron James or any of the other marquee free agents to come to the Big Apple. Because, hey, it’s the mecca of basketball! But once they struck out landing James, Dwyane Wade and Chris Bosh, they panicked and threw $100 million at Amar’e Stoudemire, whose problematic knees terrified just about every levelheaded organization in the league.”—NBA: New York Knicks dreaming about Rajon Rondo - ESPN
“Facebook is being more blunt about the fact that marketers are going to have to pay for reach. If they haven’t already, many marketers will soon see the organic reach of their posts on the social network drop off, and this time Facebook is acknowledging it. “We expect organic distribution of an individual page’s posts to gradually decline over time as we continually work to make sure people have a meaningful experience on the site.””—Facebook Admits Organic Reach of Brand Posts Is Dipping | Digital - Advertising Age
“The Tuesday morning keynote lasted three and a half hours — a duration normally reserved for North Korean dictators. The first half of the show had nothing to do with Salesforce.com, or even software. It was about Benioff, and what an amazing, generous, heroic, world-changing figure he is. Try to imagine a six-foot-five-inch, three-hundred-pound, very white version of Gandhi, and you’ve got an idea of how Burgundy/Benioff sees himself. The show opened with Huey Lewis and the News, rocking out at nine in the morning, because why not? Then came Benioff and his tribute to himself. Benioff wore a blue suit and a pair of ridiculous multi-toned shoes made for him by Christian Louboutin.”—Marc Benioff Is the Ron Burgundy of Tech
“Do not let the VC merchants and their stooges tell you what success looks like. Do not accept that this path has to go through their 10:1, or 100:1, lottery funnel. You do not have to pick up their shovel and dig gold only where they have marked the X.”—DHH (via brycedotvc)
“You can’t eat ‘reach’ and we can’t pay salaries with ‘brand awareness’. I don’t pretend to know other people’s business models or strategies. But successful business practices are always about having a close understanding of the costs of what you produce and the origins and mechanics of your revenues and more than anything else the interaction between the two.”—Are Operations Like Flipboard Scams Against Publishers?
“When you go to JustFab.com, there’s no hint about how the site really hauls in its money. It just looks like any other shoe store—think Zappos, with a drunk 10th grader sloshing some pink paint around. Beneath the mall-chic facade is the “JustFab VIP Membership Program,” a near-compulsory subscription shoppers are pushed into joining upon checkout.”—The Biggest Scam in Online Fashion
“A U.S. District ruled today that the owners of 650 Fifth Avenue, a 36-story building near the Rockefeller Center in Midtown Manhattan, used the property to launder money for the government of Iran. The ruling authorizes the federal government to seize the tower and donate the seizure’s profits to the families of Americans harmed by terrorist attacks aided by Iran…The government is likely to make a tidy sum: one real estate expert told the Daily News that 650 Fifth Avenue “could fetch up to $2,000 a foot,” for a sale of $760,000,000.”—Feds Grab Entire NYC Office Tower in Biggest Terror Asset Seizure Ever