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The latest news from Business Insider

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    Bob Swan Intel 2

    Intel shot up 6% after hours on Thursday after reporting a major beat on both revenues and earnings per share for the third quarter. 

    Despite the market optimism, Wall Street has some big questions for the company going into its earnings call Thursday — its second call and its first full fiscal quarter since its CEO Brian Krzanich resigned in June over an inappropriate workplace relationship.

    The market has been rocky across the board, but Intel's competitor AMD felt its wrath acutely on Wednesday after missing guidance on sales for the quarter. AMD's shares fell 20% in after hours trading Wednesday. The stock remains down nearly 17%.

    Here's what Intel reported: 

    Revenues for the quarter (GAAP): Intel reported $19.2 billion in revenues, up 19% from the year before. Analysts expected $18.11 billion.

    Earnings for the quarter (non-GAAP): Intel reported $1.40. Analysts expected $1.15. 

    Revenue guidance for Q4 2018 (GAAP): Intel gave revenue guidance of $19 billion. Analysts expected $18.39 billion.

    Earnings guidance for Q4 2018 (non-GAAP): Intel gave EPS guidance of $1.16. Analysts expected $1.09.

    Revenue guidance for fiscal 2018 (GAAP): Intel gave revenue guidance of $71.20. Analysts expected $69.54 billion.

    Earnings guidance for fiscal 2018 (non-GAAP): Intel gave EPS guidance of $4.53. Analysts expected $4.16.

    This story is developing. Refresh the page or click here for the last update.

    Join the conversation about this story »

    NOW WATCH: This company spent 10 years developing a product that allows humans to scale walls like a gecko

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    Red Dead Redemption 2

    The biggest game of 2018, "Red Dead Redemption 2," may be the most detailed game I've ever played.

    It's certainly the most detailed game I've played since the last project from Rockstar Games, "Grand Theft Auto 5."

    The simple act of walking through mud in "Red Dead 2" becomes a sight to behold. Fighting in it — during a light rain, no less — can be downright distracting:

    Red Dead Redemption 2

    Each individual footstep shows up in the mud, quickly filled by nearby puddles and topped-up by the rain.

    I spent more time than I'm willing to admit simply staring at the mud. How could it be so detailed? How could there possibly have been this much attention lavished on the ground

    Those stop and gawk moments were frequent while playing through "Red Dead Redemption 2" over the last week. It's a game that, even after dozens of hours, continues to surprise me.

    Here's just some of the craziest, most impressive stuff I've seen:

    SEE ALSO: After 30 hours with 'Red Dead Redemption 2,' I'm convinced it's a game everyone should play

    1. Let's start with the bear head hat.

    There are quite a few hats in "Red Dead Redemption 2," and even more outfit combinations. That's to be expected in any blockbuster, character-driven game in 2018. Who doesn't want to play dress up?

    What's not so expected is this outrageous bear head hat, which is a bear's head— a bear you'll kill in a relatively early mission. This hat is almost certain to become yours.

    After taking the bear skin to a trapper, he'll offer to buy your legendary bear skin. In an instant, he turns that skin into a handful of different clothing items. The one I purchased immediately, of course, was the bear head hat you see above. It looks exactly like the bear I shotgunned in a panic.

    2. Your outfit, including the bear head hat, shows up in every cutscene.

    No matter how serious the moment, whatever silly outfit you're wearing is the outfit your character will wear in cutscenes. This is no small thing — most games don't bother with this level of consistency. 

    And that's just the beginning.

    3. If you're muddy from riding through mud, you'll appear dirty and people will react accordingly.

    The main character, and the one you'll control throughout "Red Dead 2," is Arthur Morgan. If you get into a fight in the mud as Arthur, he'll get extremely muddy. When he walks into a bar, people will comment on his smell and demeanor. When he appears in a cutscene, he'll appear as a mud-covered maniac. 

    There's a level of detail consistency throughout the game that's subtle at first, and becomes almost overwhelming as the game goes on.

    See the rest of the story at Business Insider

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    Evan Spiegel

    Snap, the parent company of messaging app Snapchat, beat analysts' expectations for its third quarter on Thursday, but its stock still slumped 4.5% into the red.

    Despite the positive revenue and EPS figures, the company lost two million users in the quarter — a rate worse than Wall Street was anticipating. The stock had initially spiked 9% after the company announced its earnings.

    Here are the key numbers:

    • $297.7 million revenue (versus $283.36 million expected)
    • $-0.12 adjusted EPS (versus $-0.14 expected)
    • 186 million daily active users (versus 186.8 million expected), down 1%

    The company has been struggling in recent months, as it comes under sustained pressure from Facebook and sister app Instagram, and its userbase flat lines following a controversial redesign.

    This story is developing...

    SEE ALSO: Snapchat investors are praying for a 'Twitter-like turnaround'

    Join the conversation about this story »

    NOW WATCH: 11 Apple Watch tips and tricks

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    Jeff Bezos laughing

    Wall Street had high hopes for Amazon's third quarter results. But its profit in the period blew away analysts' already heady expectations.

    Analysts were predicting that on a per-share basis, Amazon's profit would be six times larger in the period than it had been in the same quarter a year earlier. In actuality, the company's earnings per share in the third-quarter were more than 10 days larger than the prior year quarter. Surging profits from its North American retail and Amazon Web Services cloud computing businesses helped boost its bottom line.

    But the company tempered that standout result. Its revenue fell a bit shy of expectations, and its revenue outlook for the holiday period was also a bit lighter than analysts had forecast.

    Despite the huge earnings beat, investors seemed underwhelmed by the results or focused on the disappointing aspects of the report. In recent after-hours trading, the company's shares were off $75.17, or 4.2%, to $1,707.00.

    Here's what the company reported:

    • Q3 revenue: $56.6 billion. Analysts were looking for $57.1 billion. In the third quarter last year, Amazon pulled in $43.7 billion in sales.
    • Q3 earnings per share: $5.75. Analysts had forecast $3.11 per share. In the same period last year, the company earned 52 cents a share.
    • Q4 earnings per share (forecast): Betweent $66.5 billion and $72.5 billion. Wall Street had projected $73.8 billion before the report.. In the holiday period last year, Amazon saw sales of $60.5 billion.
    • Q4 EPS (forecast): The company didn't provide earnings guidance for the holiday period. Analysts had previously forecast it would earn $5.79 a share in the quarter. In last year's fourth quarter, the company earned $3.75 a share.

    Yet again, Amazon's cloud business gave it a big boost. AWS's revenue jumped 46% from the year-ago period to $6.7 billion. The division's operating profit, meanwhile, grew 77% over the same time period to $2.1 billion, accounting for more than a third of Amazon's total net profit for the period.

    Amazon's stock closed regular trading up $117.97 a share, or 7.1%, to $1,782.17.

    We'll be updating this story when Amazon reports its numbers. Refresh this page for the latest.

    SEE ALSO: Investors love Amazon's cloud and advertising efforts, but it could have just gotten a big boost from an older business

    SEE ALSO: A new survey suggests Salesforce and SAP have an early lead over Amazon and Google in the next frontier in tech

    SEE ALSO: Amazon has quietly taken a big and fast-growing stake in a $7 trillion market

    Join the conversation about this story »

    NOW WATCH: This smartphone has 5 cameras — here's what it's like

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    woman at workWe're hiring an Account Manager to join our Enterprise Renewal team at Business Insider Intelligence.

    Business Insider Intelligence is Business Insider’s cutting-edge research service, delivering real-time insights on emerging trends, technologies, and disruptors in the digital arena.

    The Account Manager will be responsible for growing our existing business segment - he/she will engage, renew, and upsell $1,000,000+ of corporate accounts, including Fortune 100 companies in the finance, tech, and media sectors.

    You will...

    • Renew your own book of business - You will develop custom proposals, handle negotiations, and push deals through the procurement process.

    • Drive engagement - You will ensure subscribers are finding deep value in the service by systematically tracking activity and managing targeted campaigns to drive engagement.

    • Grow and upsell accounts - You will actively identify and pursue opportunities to expand each account by adding seats, including other departments, or upgrading to enterprise access.

    You are...

    • A tenacious go-getter who’s excited by new challenges and stays positive in the face of adversity. You expect yourself to hit - if not exceed - your goals and know how to make it happen.

    • A people person who naturally forms connections and can get to the heart of what each client needs

    • A self-starter who takes charge and finds process in ambiguity. You’re always looking for ways to optimize and can embrace Business Insider’s mission: get better every day.

    • An expert multitasker who can quickly triage competing priorities and is comfortable balancing long-term goals with short term demands

    • A confident communicator who understands how to effectively tailor messaging and articulate value, be it in person, on the phone, or over email. You have an affinity for navigating difficult conversations and can hold your ground in negotiations.


    • 2 - 4 years of relevant experience with a history of exceeding quota

    • New business / cross-selling / upselling experience highly preferred

    • BA/BS degree or equivalent

    If this sounds like a great job for you, please apply online and include a cover letter highlighting why you’d be a good fit for the role and the 2 recent accomplishments you’re most proud of.

    Join the conversation about this story »

    NOW WATCH: 'Game of Thrones' star Maisie Williams has left Arya Stark behind to help fight nepotism in the arts industries

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    Tencent Honor of Kings.JPG

    • China is the world's largest video game market, but regulators in the country haven't approved any new games for sale since March 2018.
    • Chinese officials are reconsidering the impact gaming has on the country's young people, which could lead to limits on playtime and additional censorship.
    • Companies making games for Chinese audiences have reported more than $1 billion in lost sales due to the halt in approvals.

    With about one-fifth of the world's total population, China is the largest video game market on the planet. Despite heavy regulations on media and online content in the country, Chinese gamers spent nearly $38 billion on video games in the past year, according to New Zoo.

    But while China's audience for video games has seen consistent growth, officials in the country have expressed concern about potential gaming addiction and the impact video games have on the country's youth. As a result, Chinese regulators have slowed the approval process for new games in the country. The Wall Street Journal reports that less than 5,000 games have been approved so far this year, compared to more than 14,000 games released during 2017.

    Approvals have primarily been reserved for major companies, and China is home to the biggest gaming company in the world, Tencent. However, Asia's largest company posted a decline in profits for the first time in more than a dozen years during August 2018, noting that Chinese regulators blocked the sale of major releases. Tencent's overall market value has tumbled more than $200 billion since peaking in January.

    China's government is unapologetic about its efforts to monitor the release of new media in the country. There are strict limitations on the number of movies that are imported from the U.S. each year, and movies and games alike are deeply scrutinized for their portrayals of violence and offensive content. China overhauled its approval process in March 2018, establishing the State Administration of Press and Publication, but the new agency has been less than aggressive in addressing video games. Some Chinese officials believe the increased popularity of video games has had a negative impact on children, keeping them away from school and promoting addictive behavior.

    Last year, in an effort to preempt new regulations, Tencent implemented oversight features for its most popular game, "Honor of Kings." The game automatically limits children under the age of 12 to one hour a day, adolescents between 12 to 18 are allowed two hours a day. Parents can also monitor the amount of time children spend playing and block their access to the game on specific devices. Tencent is now considering using facial recognition software to identify players by comparing their photo and information with a police database.

    Mobile games dominate the Chinese video game market and the most popular games, like "Honor of Kings," earn more than a hundred millions dollars every month through microtransactions. Still, with the government reluctant to approve new games or allow monetization for popular titles, Tencent and other video game publishers are losing billions in potential revenue. The Wall Street Journal reports that gaming companies are currently losing as much as $200 million a month due to the lack of approvals.

    Right now there are few signs that China is willing to expedite the approval process for video games and the issue raises a greater cultural question for Chinese officials. The country will eventually need to decide whether it wants to embrace video games as a growing part of the national culture, or continue to scrutinize the medium for possible negative influences. In the meantime, game developers will have to keep struggling to reach the world's largest market.

    SEE ALSO: Tencent's profit drops for the first time in nearly 13 years

    Join the conversation about this story »

    NOW WATCH: Christopher Wylie says he was pushed into traffic and assaulted after exposing Facebook's bombshell data scandal

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    Sundar Pichai


    Google's net revenue jumped 22% in the third quarter driven by healthy performance in its mobile search business, but the results were below Wall Street expectations and the stock slide in after hours trading on Thursday. 

    Shares of Google-parent company Alphabet were down 4% in extending trading, after finishing the regular trading session up more than 4% in anticipation of the results. 

    The internet company's operating profit margin was squeezed by rising costs in the three months ended September 30, but a lower tax rate and an undefined boost in "other income" helped Alphabet a larger than expected net profit.

    Here's what Alphabet reported:

    Q3 net revenue:   $27.2 billion, up 22% year-on-year, but shy of the $27.33 billion expected by analysts.

    Q3 EPS (GAAP) : $13.06, compared to analyst expectations of $10.45

    Operating margin: 25%, down from 28% in the year ago quarter

    Traffic acquisition costs: 23% of advertising revenue, the same as in the year ago period.

    Employees: 94,372, an increase of more than 5,000 employees from its last report at the end of July

    Alphabet's "Other Bets," the various subsidiary companies focused on ambitious projects like self-driving cars and healthcare technology posted a widening operating loss of $727 million, compared to $650 million in the year ago period.

    We'll be covering Google's results as they cross the wire, so hit refresh or click here for the latest.

    Join the conversation about this story »

    NOW WATCH: What marijuana looks like under the microscope

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    elon musk joe rogan weed

    • Embattled Tesla CEO Elon Musk asked people to send him "dank memes."
    • And now people are sending him memes roasting him for being investigated by the SEC.

    Elon Musk — the embattled Tesla involved in legal battles with the Securities and Exchange Commission, the Department of Justice, and investors related to his allegedly false tweets about taking the company private — asked the internet to send him its dankest memes on Twitter. For real.

    Who knows why. Tesla stock is up around 10% after a surprisingly strong third quarter for the company, so perhaps he was attempting to celebrate with some internet humor. 

    His followers delivered the memes. But it didn't go so well.

    Many of them roasted him

    Other replies were more supportive

    And others took the request for memes seriously, although many aren't very good

    Keep trying, Elon. 

    Visit INSIDER's homepage for more.

    Join the conversation about this story »

    NOW WATCH: Here's what caffeine does to your body and brain

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    burger king

    When we think about traveling, our first thoughts are of experiencing something different: different languages, different cultures, and most importantly, different foods. In an effort to avoid tourist traps — even those that may be worth visiting— travelers spend hours researching every niche and local experience they can have in a new place.

    But sometimes, even the most familiar experiences come with surprises of their own. Even Burger King, the second largest fast food chain on earth, varies from country to country. No matter where you are in the world, you can always get a classic Whopper — but there are still some specialty dishes found only in a select few places.

    In Thailand, you can get Burger King delivered right to your front door.

    You can order their BBQ wings or taro corn pies online or over the phone.

    In Canada, classic sides come with a little something extra.

    Canadian Burger King franchises not only offer poutine — an essential Canadian dish made of french fries doused in cheese curds and gravy — but also serve fiery chicken fries and nuggets.

    You can order an alcoholic drink in Morocco.

    Burger King-goers can get a classic mojito to pair with their burgers and cheese fries.

    See the rest of the story at Business Insider

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    Chipotle Burrito

    Chipotle reported third-quarter earnings on Thursday that missed Wall Street expectations, sending shares down 2%.

    Here are the key numbers:

    • Earnings: $1.36 per share versus an expected $2.01.
    • Revenue: $1.23 billion versus an expected $1.24 billion.
    • Comparable sales: +4.4% versus an expected +5%

     "Chipotle's strategy to win today and cultivate a better future is taking hold and I'm pleased to report our third quarter results with strong sales growth and restaurant margin expansion over last year,"CEO Brian Niccol said in the earnings release.

    "We made important progress during the quarter with the introduction of our 'For Real' marketing strategy and I'm encouraged by the progress we are making in building a pipeline of customer focused innovation, driving digital sales, elevating our restaurant operations and effectively executing our reorganization."

    Ahead of the results, Shares jumped 3% amid broader strength in US stocks, and RBC analyst David Palmer was bullish on the burrito chain.

    "We believe 2019 will be characterized by menu innovation, digital initiatives, and a focus on improving restaurant margins," said Palmer in a note sent out to clients ahead of earnings.

    "Our survey work demonstrates significant upside from menu and digital/delivery opportunities—and we believe this management team will increasingly execute against these in 2019. We believe the recent pullback has created an acceptable entry point (at 28x 2020e EPS)."

    He recently upgraded Chipotle to "outperform" and lifted his price target to $510 from $450.

    Shares were up 44% this year through Thursday.



    Join the conversation about this story »

    NOW WATCH: 'Game of Thrones' star Maisie Williams has left Arya Stark behind to help fight nepotism in the arts industries

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    college graduate 2

    • Maine is willing to help you pay off your student loans if you move to the US state. 
    • Through the Educational Opportunity Tax Credit program, graduates who move to Maine can take off the money they pay towards student loans from their state taxes.
    • STEM majors receive an added bonus through the program.

    Got student loans? The state of Maine wants to help you pay them off. But there's a catch — you have to move to Maine.

    And while people love to visit Maine — it gets around 36 million tourists a year — the US state apparently can't get enough young people to actually move there. 

    "We don't have enough people in Maine to satiate our long-term workforce needs,"CNBC reported that Nate Wildes, engagement director of Live and Work in Maine, which markets the campaign said. "The fact that you have debt and the fact that you've graduated indicate you have something to offer to the economy."

    And that's where this Educational Opportunity Tax Credit program comes in.

    The Educational Opportunity Tax Credit program began as a way to encourage residents to stay in the state after they graduated college

    It has now expanded to include anyone who graduated from a US college.

    portland maine autumn fall water

    Although the program varies depending on where you studied, the basics are as follows: Any college graduate that moves to Maine and begins working can take off the money they pay towards student loans from their state taxes.

    In layman's terms? If your yearly income taxes are $2,500, and you pay $2,000 towards your student loans, then you only have to pay $500 in state income taxes.

    STEM majors get an added bonus

    Scientists at ETH Zurich in lab

    Borrowers from STEM (science, technology, engineering, and mathematics fields) can get a check from the state if the amount they paid for their student loans exceeds their state income tax for the year.

    For example, if a scientist paid $2,000 in student loans and owed just $1,500 in state income taxes, they'd receive $500 from the state of Maine.

    This is great news for thousands of college students out there looking for a change — and looking for a way to pay off their student loans without going into debt themselves.

    Visit INSIDER's homepage for more.

    Join the conversation about this story »

    NOW WATCH: Here's what caffeine does to your body and brain

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    Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 13, 2017. REUTERS/Brendan McDermid

    • Stocks jumped Thursday as Wall Street recovered from a sell-off that wiped out 2018 gains. 
    • Strong earnings results helped lift technology companies that had dragged on indices Wednesday.
    • On Wednesday, the major averages wiped out their gains for the year.

    US stocks made a comeback Thursday, a day after the major averages wiped out their gains for the year. Buoyed by solid corporate earnings, the advance had traders putting worries about rising interest rates and the prospect of a slowdown in global economic growth on the back burner — at least for a day.

    The Dow Jones Industrial Average jumped 1.9%, or nearly 500 points. The the Nasdaq Composite climbed 3.5%, and the S&P 500 was 2.4% higher. A combination of fears, including rising rates and the prospect of slowing economic growth, had pushed the Nasdaq into correction territory Wednesday.

    The Nadsaq got a boost from Tesla (+9.14%) reporting a surprise profit after Wednesday's close and Twitter (+15.47%) announcing impressive results ahead of Thursday's opening bell. Despite the strong results, the social-media company said it lost millions of users. AMD (-15.45%) bucked the trend, disappointing on both revenue and guidance.

    The Dow components Microsoft (+5.84%), which is also on the Nasdaq, and Visa (+4.66%) posted strong quarterly results, while Merck (-0.81%) missed on the top line but beat on the bottom line.

    Numerous worries have weighed on Wall Street in October, sending the major averages down by 9% to 13% from their recent peaks. Traders have been grappling with the prospect of the Federal Reserve hiking interest rates at a faster pace than expected, with even President Donald Trump voicing those concerns.

    "Every time we do something great, he raises the interest rates," Trump told The Wall Street Journal, adding that Federal Reserve Chairman Jerome Powell "almost looks like he's happy raising interest rates."

    But that's not all. A slowdown in China, which recently posted its weakest growth in a decade, has some sounding the alarm about a slowing global economy.

    "Overall, earnings results are good, but pockets of results, such as those in the Industrials sector, show the impact of tariffs and the slowdown in global trade," Jason Draho, the head of American asset allocation at UBS, said on Wednesday.

    Elsewhere, West Texas Intermediate crude oil (+0.87%) spiked back over $67 a barrel after the OPEC cartel of oil exporters warned that swelling oil inventories could be driving the market toward oversupply and said it would adjust output accordingly.

    Light selling in the bond market pushed the 10-year yield up to 3.122%.

    SEE ALSO: 'Tesla may have crossed the line to become self-funding': Here's what Wall Street is saying about Tesla's surprise profit

    Join the conversation about this story »

    NOW WATCH: Scorpion venom is the most expensive liquid in the world — here's why it costs $39 million per gallon

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    Silence of the Lambs

    Although movies like "Halloween" and "Get Out" can make audiences scream out loud, some books have the ability to truly keep readers up at night. 

    In fact, most horror movies use famous novels as source material. Everything from "The Shining" to Netflix's "The Haunting of Hill House" originated as a story in books. Likewise, characters Jack Torrence and Hannibal Lecter first came together on the page and haunted people's minds for years before Jack Nicholson and Anthony Hopkins brought them to life. 

    These 20 books will make you question your sanity, force you to look over your shoulder, and have you checking under the bed long after you've put them down. 

    "House of Leaves" by Mark Z. Danielewski

    Mark Z. Danielewski puts an intriguing twist on the haunted house genre with his novel "House of Leaves." When a family realizes their house is bigger inside than it is outside, it leads them to another world that is tauntingly horrifying. As the family attempts to unravel the mystery, it slowly tears them apart. 

    "Carrion Comfort" by Dan Simmons

    Dan Simmons challenges the idea of power in his terrifying novel "Carrion Comfort." The story follows people who have The Ability, or the power to take control of people from a distance. But when one of the "puppets" kills a person while under the control of someone with The Ability, everything is thrown into question. Suddenly, no one is safe, and a world without any free will becomes a scary reality. 

    "The Girl Next Store" by Jack Ketchum

    "The Girl Next Store" by Jack Ketchum is almost difficult to read, that's how disturbing it is. The story follows two sisters who are forced to live with their mentally ill aunt and her three sons. What unravels is a horrifying tale of neglect, torture, and abuse. If that isn't bone-chilling enough, you should know that the book is based on a true story. 

    See the rest of the story at Business Insider

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    It's a tough time to be in the toy industry.

    America's two largest toy makers, Hasbro and Mattel, aren't doing so well in the wake of Toys R Us' bankruptcy. 

    Hasbro, which makes Monopoly, Play-doh, Nerf guns, Transformers-branded toys, and My Little Pony, said in its third-quarter earnings report on Monday that sales were down 7% in the United States and Canada. It also announced a $50-60 million restructuring plan that could result in hundreds of layoffs.

    The layoff will affect a "mid-single digit percentage" of Hasbro's 5,000 estimated employees, a Hasbro spokesperson confirmed to Business Insider.

    "As part of Hasbro's ongoing transformation we continue to make meaningful organizational changes," Julie Duffy, senior vice president for global communications at Hasbro, said.

    "While some of these changes are difficult, we must ensure we have the right teams in place with the right capabilities to lead the company into the future."

    Hasbro and Mattel have had to scramble to find new avenues for selling their toys following the liquidation of Toys R Us earlier this year. Big-box stores like Walmart and Target usually buy toys later in the year than Toys R Us did, which caused a crunch at the end of the third quarter. Hasbro CEO Brian Goldner said in a conference call discussing earnings that the company couldn't meet all of the demand.

    Mattel, which sells Barbie, Hot Wheels, Fisher-Price, and American Girl brands, announced in July that it would reduce its global workforce by 2,200 jobs, blaming bad results on lost sales from Toys R Us' closure. At the time, the company said its revenue would have been close to flat if not for the loss of revenue from Toys R Us.

    The company announced a sales bump in its third-quarter results on Thursday, attributed to strong Barbie sales. But during an investor call, the company said it expects the impact of Toys R Us' liquidation to have a greater effect on fourth-quater earnings, which are typically the most important for a toymaker.

    Toys R Us filed a motion to liquidate its US business in March, initiating the closing or selling of all 735 of its US stores. They all closed for good at the end of June.

    Since then, big-box stores like Walmart and Target have announced new toy-based initiatives for the holiday season, including offering more options to customers and having more inventory in new store space cleared just for toys.

    In both cases, the new in-store space is permanent. It likely still won't make up for Toys R Us' billions in yearly toys sales, however.

    SEE ALSO: Toys R Us might be coming back after the auction for its brand was cancelled

    DON'T MISS: 12 devices and services that could help you ditch Amazon completely

    Join the conversation about this story »

    NOW WATCH: How ketchup started as a fish sauce from Asia

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    san francisco bay area family

    • Bay Area locals love the variety of cultural events, the restaurants offering cuisines from around the world, and the diversity of the people who live here.
    • The near-perfect weather year-round is a Bay Area favorite.
    • Many people love the fact that you can easily escape the city and immerse yourself in the natural beauty of Northern California.


    I asked friends, colleagues, neighbors, and people I met on the street to tell me what they like best about the Bay Area.

    Some had lived here their whole lives and others had just arrived. What surprised me the most was how much agreement there was about what makes the Bay Area a great place to live.

    People appreciated the culture and the diversity of their fellow residents, the weather, and the wild escapes around the bay.  

    Here's what 21 people told me they liked best about the Bay Area:

    SEE ALSO: I asked 21 people for the worst thing about living in the Bay Area — here's what they said

    Locals love the Bay Area's culture and diversity

    Peter Tjeerdsma loves the culture and the art scene. "Just the sheer number of intelligent, creative people" make the Bay Area a great place to live, he said.

    Onynx Johnson's favorite spot is the Berkeley YMCA, where he works. "It's not your average gym," he said. He sees people from all different walks of life at the Y and, he said, "I feel like I fit."

    Sachiko Nemoto likes the street fairs and opera in the park. Her daughter, Mina Harris, puts the abundance of things to do at the top of her list, too. Her top two spots: the Mountain View Cemetery (you can see Daveed Diggs' character Collin running there in the recent movie "Blindspotting") and the piers in San Francisco.  

    Edi Pfeiffer said, "I really enjoy the different kinds of people." She appreciates that she can meet and talk to people who aren’t the same as her.

    "The swing dancing scene, which has been thriving for two decades at least," is the best of the Bay for Barry Harris. "I like the joyousness of the dance," he said. "It's really exuberant."

    Kimi Hosoume loves the films, theater and restaurants of the Bay Area. Her favorites: Berkeley Rep (theater) and La Marcha (mouth-watering tapas).

    Sean Weinstock's immigrant parents "were allowed to succeed in the Bay Area in a way that I would imagine would be relatively hard anywhere else," he said. Growing up in San Francisco has given him an appreciation of "people's open-mindedness and natural curiosity. It’s a place where people come to explore."

    People who weren’t allowed to find homes anywhere else — including the gay community and tech geeks — were welcomed here. Weinstock said he thinks this is the Bay Area’s secret sauce. "Everyone is following in our footsteps," he said. "San Francisco has become a net exporter of culture. It's because of that open-mindedness."

    You can't beat Bay Area weather

    Mark Twain famously said that the coldest winter he ever spent was summer in San Francisco. Once you know what to expect (fog, temps in the 60s and 70s for most of the year), Bay Area weather, apparently, grows on you.

    "It never gets too hot or too cold," said Evelyn Herrera. An LA transplant, she appreciates that A/C is not needed. The Bay Area's cool summers give her a way to spot tourists: "Only tourist wear shorts in the summer in San Francisco."

    Linda (who didn't give her last name because her mother doesn’t want her to be famous) describes Bay Area weather like the people: "Pretty mellow – not too hot, not too cold either." Israel Zion just moved to Oakland from Miami a month ago and he's digging that the weather isn't swampy and hot like his old home.

    Richard (no last name given) likes that the Berkeley weather is "nice and cool and gray," he said, with ocean breezes and fresh air. He's lived around the Bay Area — in gray and gloomy Daly City and sunny, hot San Rafael — and said he has found the perfect sweet spot in the East Bay.

    When you move west from Buffalo, NY, like Sue Getreuer, weather has to top your list. "We have flowers all year," she said. She loves the palm trees and Oakland's Lake Merritt, too.

    The natural beauty of the Bay Area

    "Being able to be on top of a mountain and see the sunset," makes the Bay Area great for Mahal Bryant, who takes photographs almost every day. His favorite spot: the Albany Bulb, where he can see across the bay to San Francisco.

    "To be in a big city and then have so much access to nature," said Mannie (no last name given) in awe of the people who had the foresight, decades ago, to preserve so much open space. RM (who didn't want to give her name) agrees: "My favorite thing about the City is the proximity to the natural environment." She loves that she can ride her bike to the beach, something she couldn't do when she lived in Manhattan.

    "You have that nice balance between the fabric of the city and the scale of the city and the proximity to nature," said Jacqueline Ho. A recent transplant from New York City, she likes that you can find "a really nice neighborhood feel" throughout the whole city of San Francisco.

    The towering redwoods of Muir Woods is one of Fran Ternus' favorite spots in the Bay Area. She also loves Green Gulch, which she called "a wonderful combination of Zen retreat and farm."

    See the rest of the story at Business Insider

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    Ben Silbermann

    • Ben Silbermann is the cofounder and CEO of Pinterest, the image sharing site.
    • Pinterest will reportedly exceed $700 million in annual ad revenue and is valued at around $12 billion.
    • Silbermann built a community around his company by hiring people based on their passions, and by personally meeting Pinterest's earliest users.
    • Silbermann is naturally a quiet person, and developed a meeting approach that kept the most outgoing employees from dominating the conversation.

    Ben Silbermann is the cofounder and CEO of Pinterest, the image search tool that lets users save and share their favorite photos, designs, and recipes.

    Over the last eight years, Silbermann has quietly built Pinterest into a global brand with 250 million active users. And while the company is private and keeps financials to itself, CNBC reported in July that Pinterest may hit $1 billion in ad revenue this year, and in September the New York Times reported that number will be closer to $700 million, and that the company has a valuation of $12.3 billion.

    Silbermann's journey to Pinterest started when he was still working at Google in 2007, and his friend Paul Sciarra asked if he wanted to explore making software for the newly released iPhone.

    Listen to the full episode here:

    Subscribe to "This is Success" on Apple Podcasts, Google Play, or your favorite podcast app. Check out previous episodes with:

    Transcript edited for clarity.

    Ben Silbermann: We just started brainstorming. What are the different things we could do on the phone that would be different than what you could do on the computer? We made a game with some friends. It was a trivia game, so anybody could write trivia on any topic, and anybody around the world could play it. So I was always playing with that idea of what could you do with technology and with the internet that would be fun and useful for lots and lots of people.

    Richard Feloni: And how did this first company pan out?

    Silbermann: It wasn't that great. Paul and I decided that we wanted to help put catalogs on the phone. Everyone was getting catalogs in the mail, and it felt so archaic. You'd get this big stack of paper catalogs.

    Feloni: Like retail catalogs?

    Silbermann: Yeah. Just everyone's mailbox was full of them. And we thought, "What if you could put that on the phone?" Then you'd save a lot of paper, and you could only look at the stuff that you wanted to look at. So we set out to build that, but it was bad timing. This was right after the financial crisis. And we needed to put together a little bit of money to support ourselves and to build the technology. And it was just the worst time to raise money. I remember we would visit investors, and they would be telling us, "We're putting all of our money into gold. We're not investing in technology startups." So we spent a long time trying to put together that very first round. And I remember at some point we became pretty desperate, because all of the traditional routes had been closed to us.

    So I started reading about these college business-plan competitions that you could enter that had a cash prize. And I found one. It was at NYU. And the rules were written pretty loosely. It said you didn't have to go to NYU; you just had to know somebody that was a student at NYU. And we ended up entering that contest. We got second place, and second place had no cash prize, but you got a meeting with a venture capitalist. And so at the meeting, the venture capitalist — I don't know; maybe because he took pity on us — said, "We'll do half of your round if you can put together the other half of the round." And so when he said that, we then called up all the other people that we'd ever spoken to. This was random people out of college, alumni directories, people that we'd read about in the newspaper that were wealthy. We said, "Hey, we talked to you before. A venture capitalist from New York is going to fund us. If you want in the round, get in there. It's going to close in a few days." And that's how we put together our first little bundle of money.

    Feloni: So what did this experience teach you, ahead of Pinterest?

    Silbermann: It sounds really cheesy: It just taught us that persistence pays. We didn't feel like we really had anything to lose. Actually, we literally didn't have anything to lose. So we didn't feel bad about asking people. But the other thing I learned was that investors — they kind of want to hear that you're selling the future. You're selling a dream of what could be. And when I used to go in and pitch investors, I was very careful not to over-promise what we could do. So I would say, "Hey, you know, we don't have any money. We don't have any experience doing this. But we think this is a good idea. We're going to build this piece of software." And I couldn't understand why they weren't funding us, but it was probably the worst sales pitch they'd ever heard. And I think I learned that people don't expect you to have all their answers, but they want to see that you have confidence that you're going to figure it out in the future. That's the same with investors. It's the same with the employees you hire. They want to know that you're going to work through those twists and turns, and try to figure out the solution even if you don't know the answer right then.

    Discovering a project is the right one to pursue

    Feloni: So at what point did you decide that Pinterest was going to be something that you would work on?

    Silbermann: We'd been working on this smartphone app. And it wasn't really taking off. Back then, every single app had to be approved by the Apple App Store, and sometimes it would take weeks or months to build it. And at that time, I had also become friends with a guy named Evan Sharp, who was a student in New York. Evan and I, kind of cut from the same cloth, both of us —

    Feloni: How did you meet him?

    Silbermann: I met him through a mutual friend. Actually, a pretty loose connection. It was a guy that neither of us knew that well in college. And he said, "Hey, you guys both love the internet. I think you should catch up when you're visiting New York." I remember meeting Evan, and yeah, we just hit it off. We started talking about how much we enjoyed the internet, all these great things we wanted to build. And we had one idea that we both shared, and it was a product that we wanted for ourselves. We wanted to be able to take all the cool things we found on the internet and just collect them in one place, so you could access them later, and you could browse the collections of other people. I used to collect things as a kid. I collected bugs and stamps. Evan collected baseball cards. And then he was in graduate school, so he was also collecting a lot of visual imagery while he was studying architecture. And so we just started building that on the side. And that was how Pinterest came to be.

    pinterest evan sharp

    Feloni: At one point did it turn out to be that, "OK, you know what, this little project that we're working on, this is actually going to be what we need to dedicate ourselves to?"

    Silbermann: Well, when we first built Pinterest, the first thing we noticed about it was that we personally just loved the product. So we were using it all the time. And there weren't a lot of other users. But we were able to keep iterating on it and making it better every single day. Whereas the phone app, we had this really long cycle between when we would make changes, and then submit it into the store, and then they would get approved over time. And so the natural momentum was with Pinterest, because we could work on it every day. And then slowly, we started sending it out to just our friends, our family. They started telling their friends about it. And pretty soon, people started telling us they really liked it. It wasn't a lot of people. But we would get notes from them and say, "Hey, I love this project." When it would go down, because sometimes it would go down, people would write to us and they would say, "Hey, Pinterest is down. I'm really depending on this to redecorate my home or to plan out my wedding." And so we decided to double down on Pinterest.

    Feloni: And as you were building up this initial audience, who were these people?

    Silbermann: A lot of them were folks like the people I grew up with. So a lot of people from the Midwest. I grew up in Iowa. A lot of people where Evan was from, in York, Pennsylvania. And they were using it not because they were tech early adopters. They weren't the kind of people that had the newest phone or downloaded everything. They were using it because it was really useful in their everyday life. And the most common way that people would hear about Pinterest, and the most common way they hear about it today, is somebody would do something. They would throw a party, or they'd redecorate their home, or they'd cook a special meal. And their friends would say, "Hey, where'd you get the idea?" And they'd say, "Oh, I got that idea on Pinterest." Then they'd say, "Oh, what's Pinterest?" And they'd try it out and download the app.

    Feloni: So that word-of-mouth approach was something that you still use today?

    Silbermann: Yeah. I mean, I wouldn't say that we use it as much, as it just happens.

    Feloni: It just happens.

    Silbermann: You know, we live in a time where everyone's carrying around these really sophisticated devices. And so you don't have to be a technology early adopter in order to hear about something and then try it just a few moments later.

    How to build a community

    Feloni: How did you build up a team around Pinterest?

    Silbermann: Well, the first thing that we really looked for were people that started with what the product would do for a customer. They were extremely focused on how to make the experience of using it better, and then they worked backwards into the technology. And that turned out to be super important, especially in the early days when the team was just four or five people. Because the thing that kept us working really hard was we really wanted to make the folks that were using the product have an amazing experience. I remember I used to put my cellphone number on every outbound email. Because I wanted to make sure that if Pinterest wasn't working, you had somebody to call. And so I would get calls at all times of the night, all through the day.

    pinterest 2012

    Feloni: So every user would have your number?

    Silbermann: Every user had my cellphone number. And you'd get calls from people that just wanted general technology support, like not even to do with Pinterest. They're like, "My computer's really slow." So eventually I had to get rid of that cellphone number because it was going off all the time. But it was more the ethos that every early user would feel like they were part of a special community, and we were really dedicated to giving them a great experience. So that was one thing that we looked for in all of our early employees.

    Feloni: I mean, just starting out, you have a small team. And when you have those intimate relationships with your founders and the first team, was there something that you would ask, to be like, "All right. This person passes the test?" Was there a question or an insight that you could have?

    Silbermann: I don't think we had a secret interview question. But we spent a lot of time as a team together. I mean, we were there every weekend, all night. We all knew each other's families. We'd go out to dinner with each other's kids. And so it really felt, in those very, very early days, like a club or a family of people, because we knew each other so well. In fact, the very first office was in an apartment, like a lot of companies. It was a two-bedroom apartment. There was actually another guy living in one of the bedrooms who wasn't working with the company. We all worked in the living room. Every Friday, we would have a barbecue because we had a grill. It was bring your own food. People from the neighborhood would come. We ended up actually recruiting a lot of people from those barbecues. They'd come three, or four, or five weeks in a row. They'd say, "It looks like all of you are having a really good time. We love the product. Let us know when you have any openings." That was the feel really early on at the company. Of course, as we grew in scale, you can't recruit hundreds of people through barbecues. That's not a long-term strategy, but I did think it set the right tone in those really early days.

    I remember when we were recruiting early on. There were these people that were at great jobs, and I would almost feel guilty pulling them out of this great job. We didn't have a cool office. It was bring your own computer. There were going to take these massive salary cuts. I would almost feel guilty about saying you should leave this amazing at a Google or a Facebook and come work for us. What I realized was they're really great people, that challenge, all that constraint, the fact that you do need them to fulfill the mission, that is what's motivating. They're not looking for you to guarantee that everything is going to be the same. In fact, part of the reason they talking to you is they want a new challenge. If you just embrace that, if you don't try to cover up all of the company's warts and challenges and say, "Here are the big challenges we have. It's going to be risky, but it's going to be a big adventure." The best people will self-select into that. The wrong kind of people, people that they just want all of their perks poured into a smaller company, will self-select out. When I understood that, it made the price of recruiting feel extremely honest and extremely transparent and actually really fun because you're looking for that special breed of person that sees their career as an adventure and a chance to do something that has a lot impact, rather than just as a job to make money and to have something to do during the day.

    pinterest evan sharp ben silbermann

    Feloni: As far as your approach to your job, are you still able to speak with users of the company and get their ideas?

    Silbermann: Yeah. Both Evan and I try to make a very deliberate effort to reach out to the community and spend time with users. Sometimes that means leaving the office. We'll go on trips to different cities around the world. The purpose isn't PR; it's just to meet people who are using the product, understand what's working, what's not working, what's annoying, and then bring that back to the team and try to set the example that everybody should have a very firsthand feeling for how to make the product better and for who's using the product. Obviously, everyone can't be out of the office visiting people all day so we have a lot of other tools as well. We have research teams that bring users in and publish reports inside the company. We obviously have a lot of data and analytics where we look at how people are using it objectively. The trick is to put all those things together and form a picture of what your customers are looking for and then prioritize the things that will have the biggest impact that you can execute really, really well.

    How to become a leader

    Feloni: In terms of being the CEO and the leader of the company, how did it feel when the company started to get a lot more attraction and public attention?

    Silbermann: Well, honestly, it was a little bit surprising to us that this tool that we started to build for ourselves, and then was used by our friends, and then our friends of friends, could be something that was useful to so many people. That was a great feeling. We were incredibly excited. Right after that, we felt this huge sense of responsibility to make sure that we could scale the quality of that product out to more and more and more people. I remember, at some point, we had millions of users but the team was still only 12 or 13 people. I sat down with Evan and we both realized that we needed to make recruiting an amazing team core to what we do every day. We had been spending time with the product, very, very hands on. We realized that unless we invested in building a team around us of people that had different skills and different backgrounds, and could help scale this thing, the whole operation might collapse under its own popularity. I think that was an important turning point from just thinking about ours jobs as building a product to thinking about jobs as building a team, and a culture, and a group of people, that could, together, build a product that would fulfill a mission over time. That was a big light bulb for both of us that happened pretty early on.

    Feloni: What do you follow on Pinterest?

    Silbermann: Geez, all sorts of things. Some of it's really practical. I've got two little kids. They're 3 and 6. We're always looking for things to do on the weekend with them, activities to help them out in school, really easy recipes that don't take long to make that our kids will eat. Some of them are more about my hobbies. I love nature. I love photography. I love reading pretty eclectic articles and I use Pinterest to save all of those things. I have secret boards for Christmas gifts I'm planning to buy people, vacations that I want to take someday. It really runs the gamut.

    pinterest feed

    Feloni: In some profiles of you they describe you as a quiet, humble guy. First of all, is that accurate?

    Silbermann: I think maybe everyone else is loud! Yeah, I think, on average, I'm a little bit quiet.

    Feloni: Was that ever a difficulty in terms of being the CEO of a scaling company when they're asking you to make public appearances or just even talking to an ever-growing crowd?

    Silbermann: That's been a work in progress, for sure. We've always wanted for our product to speak for itself. That when people think of Pinterest, they don't first think of a face or a personality, they think of a product that helps them do something really fulfilling in their life. But at the same time, there's a reality to running a company, which is people want a spokesperson to explain what you stand for and what you do so that's been something every year I have to work on. I have a team and their whole job is to help me work on that. Hopefully, I'll get better at it, year on year.

    Feloni: How do you think that your leadership style evolved as the company kept growing?

    Silbermann: Well, there are some things that haven't changed. We've always tried to keep a very, very sharp focus on what are the needs of the user? Everything else should follow that. But in terms of how it's implemented, it's just different at 10 people, and then 20 people, and then 100 people. Today there are more than 1,000 people. I would say there are two differences. One is, very quickly you realize you can't do everything yourself, so you really have to empower all these great people to be able to lead their own teams. Really great people, they want direction, but they don't want to be told how to do their job. That balance between when you start controlling every pixel and letting go of that a little bit and letting people own large pieces is one transition. The second is communication. When we were really small, everyone was in one room. You don't have to think about communication or meetings. Everyone just knows what's going on because there's only a handful of you. As the company gets bigger, it becomes important to communicate across a bunch of different channels and actually to repeat the same things again and again because an individual in your company, that may be the only time they're going to interact with you in a week, or in a month. You need to keep repeating the same message to make sure that it's consistently heard across the whole company.

    Feloni: When you're saying, in terms of things that you're working on as a leader, would it be on the communication front, both internally and externally?

    Silbermann: That's certainly one thing. I have a whole list of self-improvement projects.

    Feloni: Is it an actual list you have?

    Silbermann: There's a list and then I have a pinboard, of course —

    Feloni: Of course.

    Silbermann: — of interesting things that I read about. But every CEO, and actually most professionals I know that are successful, are pretty focused on constantly getting better and improving in the areas where they see gaps. I don't think I'm an exception to that.

    Feloni: How would you define the culture that you built around Pinterest?

    Silbermann: I would say that the culture really values diversity of all forms. Diversity certainly of skillsets. We have people that went to college and people that didn't go to college. People that studied engineering and people that studied design. It's one thing to recruit people from lots of different backgrounds; it's another thing to create a culture where all of those different skillsets can actually be knit together and can work towards a common good. We try to create an environment where you don't have to be the loudest to make a decision. If you're not the best verbal communicator, you can communicate through design or through data.

    Feloni: How do you mean? Through presentations?

    Silbermann: Yeah. One thing I noticed when I was working at other companies is that there's almost this tyranny of articulate people. That if you're really [good] at making an argument in a group setting, you can run the place. But the problem is the skill of making an argument in a group setting isn't the same as the skill of building really great products for users. In fact, sometimes the reason that people are great engineers, are great designers, is precisely because that's the medium that they best express themselves. We try to create an environment where you can speak through the work that you do rather than always having to make a verbal argument or debate about why something should or shouldn't be the case.


    Feloni: How do you balance that in meetings when you're saying, "Oh, someone could just be the loudest in the room, they'll get their idea heard"?

    Silbermann: Well, it depends on the meeting. My favorite meetings are ones that start with a very clear understanding of what problem are we trying to solve for our users. I'm a visual person. It's not a coincidence that I confounded Pinterest. I love it when people show the work rather than tell. They show the prototype or they show the design. They explain this is how I would use it personally. I find those are ones where it's much easier to make a decision on which direction we should take.

    Feloni: Even though Pinterest isn't in the same social sphere as Facebook or a Twitter, it's still an app that people incorporate into their daily lives. There're nonstop discussions around just privacy concerns or how is my data being collected. Pinterest, though, hasn't really ... I haven't seen scandals around that. How have you maintained that trust of a user base?

    Silbermann: Well, we think privacy is incredibly important, and we think it's also very important to be clear with a consumer about what's going on. There are two kinds of boards. There are boards that anybody can look at and browse and there are boards that are secret. In that sense, I think it's quite simple service. The other thing about Pinterest that's really helpful for us is we make money through advertising. Unlike a lot of services where advertising is kind of bolted on, on Pinterest there is a very, very close alignment between what people are there to do, which is get ideas, and what the advertisers are there to help them do, which is to get ideas. That basic alignment is really important. If I'm using Pinterest to redecorate my home, I actually want advertisements from furniture providers or from a paint provider because I can use those to make my home better. That alignment, I think, makes a lot of the conversation and expectation setting with users a lot easier because people can see why there's an exchange in value between advertisers and Pinterest and between the users and the advertisers. That's something that's important for us to preserve over time.

    Feloni: It's like a look into the transparency of it?

    Silbermann: Well, it just sort of makes sense. Advertising online gets a bad rap because a lot of times you're very clearly there to do something other than see ads. I want to watch this TV program or I want to communicate with my friends. Ads don't actually make the experience better in any way. But on Pinterest, you're there to get ideas to go do things in your life and lot of those things are enabled by the products and services that businesses provide, and so there's a logical connection between why you're using Pinterest as a user and why you're seeing ads as a user. That alignment, it's good for users, it's good for us a business, and it's good for the people that use our advertising products.

    Feloni: Pinterest is still private. Are you considering taking it public, and do you have an idea of what an advantage would be and what maybe a disadvantage would be of that?

    Silbermann: Well, long term, we want Pinterest to be an independent company. We don't comment on when or if we're going to public, but we tried to build it all along the way to be a company that can be self-sustaining. Self- sustaining financially, self-sustaining culturally, and that's because we think that the mission that we're on to try to bring everyone inspiration. It's a big mission. It's not a small functionally mission. It's one that we could realistically pursue for 10 or 20 years and still have a lot of work to do. We've always had big ambitions for the company because the mission that we've chosen to undertake is one that has a long time horizon to fulfill.

    Feloni: What would be next for the company in terms of fulfilling that long-term vision?

    Silbermann: We're working on a bunch of stuff that I am extremely excited about. One area is, how do we give you better and better personalized inspiration? At a very broad level, we want to take the best of human curation, so this ability for somebody to pick out the 10, 15, 20 items that are meaningful to her, and we want to combine that with cutting-edge machine learning and recommendation, so every time you open Pinterest you're greeted with almost a catalog that looks like and feels like it was handpicked for you. Then once you get that inspiration, we want to make sure that you can make it part of your life. For us, that means that everything that you see we can connect it to a place that you can buy it your price point. If there's a recipe, we can make sure that it's a good recipe and it's going to turn out well. If you want to add how something turned out, you're empowered with publishing tools to add this is how this project turned out. Those two things, I think, for a long time are going to keep us busy, technologically, in terms of design and community building. But if you fulfill those, they'll have a really transformative effect on people's lives.

    Sharing his best advice

    Feloni: We've talked about the span of your career. What would you say is the biggest challenge that you've overcome?

    Silbermann: Well, I think the biggest challenge I've overcome is being able to recruit people to come and work with me that have very, very different skillsets. I feel like that's one of those superpowers in anything you do in life, that you don't have to be good at everything, what you have to be good at is finding people who are better than you in some area and convincing them that by joining up, the two of you can do more together than either of you can do separately. That took me a while to get my head around, how to do that well, but I honestly think it's one of the most rewarding parts of building a team and building a company. It's that all of you can together do something that no one of you could accomplish by yourselves.


    Feloni: How do you define success?

    Silbermann: For me, success is about building products and services that are useful. I think now that I have little kids, I realize that by the time they're my age, everything in the world is going to be different. I just think about my parents. When I was born, there were no personal computers in most people's houses, there was no internet, there was certainly no services on top of that internet, or mobile phone. There are like multiple degrees of innovation away. But my parents, who are doctors, many generations later can still say I spent my time making people's lives better by removing cataracts. I think for me, success would be that even as technology changes, we can look back and say that the products and services we built brought people joy and were useful in their lives, even if the way that they do that may have changed over the passing of a bunch of years.

    Feloni: Is there a piece of advice that you would give to someone who maybe wants to have a career like yours or draw inspiration from it?

    Silbermann: Yeah. My advice would be try to surround yourself with really great people, and also everything can be learned. I think some people kind of count themselves out. They feel like it's too late to pick up a new skill or to learn something. But the reality is that if you set your mind to it, I really do believe that you can learn anything and you can improve and what you can't learn fast enough, you can find great people to help you do those things along the way.

    Feloni: It's the balance there.

    Silbermann: Yeah.

    Feloni: Well, thank you so much, Ben.

    Silbermann: Thank you for having me.

    SEE ALSO: 'It's not like I had this well-oiled plan': Former GE and NBC exec Beth Comstock reached the C-Suite by taking things one day at a time

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    American Airlines Boeing 737 800

    • A fuel truck hit the wing of an American Airlines jet at LaGuardia Airport Friday morning.
    • The Boeing 737 MAX 8's right winglet was damaged in the collision. 
    • The aircraft was taken out of service for repairs. 
    • There were no injuries reported.

    A fuel truck hit the wing of an American Airlines jet at LaGuardia Airport Friday morning. The incident, which took place just before 7:00 am, damaged a winglet on the right side of the two-month-old Boeing 737 MAX 8 as it sat parked at a gate.

    An American Airlines spokesperson confirmed to Business Insider that the aircraft has been withdrawn from service for inspection and repairs.

    There were no injuries reported among the 172 passengers and six crew members.

    A backup aircraft was brought in to complete the flight. As a result, departure for American Airlines Flight 1249 was delayed by several hours.

    According to American Airlines, the fuel truck was operated by contractor Allied Aviation. 

    Read more about the airline industry:

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    data analyst computers

    • A few private-equity teams already employ data-scientist teams, and more are expected to do so in the future.
    • Firms could win deals by having the best information about a company they're bidding for rather than by competing just on price, one private-equity executive said this week.

    While private-equity firms have long used humans and connections to find investments, they're increasingly turning to more high-tech means.

    Ian Charles, an executive at the $27 billion private-equity firm Landmark Partners, said his team already worked with "the small handful of groups that exist today" to better understand how data could be used in deals.

    "Ten years from now, all the big private-equity firms will have teams of data scientists that are deployed on buy-side due diligence, sell-side due diligence, and operational improvements," Charles said Thursday night at Bloomberg's Private Capital conference.

    "If a major buyout player has a big-data approach to understanding revenue streams of a company that they're in deep due diligence on, they may actually understand revenue trends on that company over the next 12 months better than management."

    He said private-equity firms could gain an edge by having the best information about a company they're bidding for, rather than just competing on price.

    "Even if they lose on price, sometimes management will be so impressed with that data and how it can help them manage their business better, they'll find a way to bring them into the deal in some sort of security that does justify the risk," Charles said.

    He predicted both investors and investment managers would use data teams.

    The private-equity firm EQT has said it uses software to help source deals, and Blackstone is starting to build out a data-analytics team.

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    man office phone computer window working desk

    • Every year, buzzy venture capital firm Andreessen Horowitz conducts confidential surveys to measure how much Silicon Valley execs get paid.
    • Business Insider has obtained the data, and is republishing it to shed light on the hiring process.
    • Explore exactly how much top startup sales execs get paid in the interactive graphic below.
    • The data includes base salary, bonus percentages, and equity — across different funding rounds and different sectors.

    How much are you really worth?

    In today's job market, not knowing your market value can mean missing out on thousands of dollars a year — but the taboo around discussing pay means it can be tricky to know if you're getting a good deal or not.

    This is even more the case at ultra-competitive Silicon Valley startups, where huge swathes of salaries are often tied up in equity offers that can net employees multi-million-dollar windfalls if the business takes off.

    Business Insider has previously obtained and published some of the results of extensive salary-compensation surveys conducted by buzzy technology venture-capital firm Andreessen Horowitz, which provides a window into exactly how much top executives at up-and-coming startups are getting paid.

    We are now releasing further data on top sales roles at startups in the American technology industry, from CROs to directors of sales, to shed more light on what execs in the sector should really expect to take home. 

    Andreessen Horowitz — often referred to as a16z — annually surveys more than two-dozen executive search firms about more than 4,000 job offers that are made to executives across roughly 30 different roles. The positions range from chief executive officer (CEO) to senior vice president of technology to general counsel, at both consumer and enterprise startups across America, and at multiple stages of funding, reflecting the size of the companies in question. (When startups take outside funding from investors, it's typically referred to in "Series." Excluding early seed funding or angel-investment, Series A is the first major round of outside of funding, Series B is the second, and so on.)

    Select the job title and the type of compensation you're interested in from the interactive graphic below: 

    To explore the complete data, which ranges from engineering roles to product, business, and marketing, check out our full feature here. A few things to note on the data above:

    • This data was collected in 2017, and refers to offers made up to 2016 — so offers made for similar roles today are likely to be higher because of inflation and increased demand for talent in the technology industry.
    • Some roles have more data available than others. For the most popular roles, like Sales VPs, this means you can explore the differences between enterprise and consumer salaries — while for others, like CROs, only combined "All" data is available. And in the case of VPs of Post-Sales, a16z only presented enterprise salary data.
    • This data also does not reflect any startup founders' potential salaries and shares of equity. It refers only to the offers made to outside hires, so if a (co)founder holds a sales role they may have significantly larger shares of the company they created than detailed here.
    • And it does not break out on what terms hires are offered equity — for example, whether it is theirs immediately as an outright grant, subject to conditions, or will vest over a period of years.

    Read more: Leaked Andreessen Horowitz data reveals how much Silicon Valley startup execs really get paid, from CEOs to Sales VPs »

    Got a tip? Contact this reporter via Signal or WhatsApp at +1 (650) 636-6268 using a non-work phone, email at, Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.

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    • A new poll from YouGov and The Economist shows Americans, particularly Trump voters and women, showing less support for survivors of sexual violence a year after the #MeToo movement took root.
    • Nicole Bedera, a sociologist who specializes in gender and sexual violence, told Business Insider that the reality is more complicated than one survey can capture–especially without polling before #MeToo.
    • Bedera also pointed out that party identification is a far more powerful indicator of support for sexual misconduct survivors than gender.

    The #MeToo and #TimesUp movements have brought down dozens of powerful men and sparked a nationwide reckoning over issues of sexual harassment and violence, but a new YouGov/The Economist poll shows Americans are far less inclined to support survivors than they were one year ago.

    YouGov polled 1,500 Americans on the same questions surrounding sexual misconduct in early November 2017, just a few weeks after The New York Times and the New Yorker reported on the sexual assault allegations against Harvey Weinstein, and in the last week of September 2018. 

    From 2017 to 2018, the percentage of adults agreeing that false rape allegations were a bigger problem than sexual assault rose from 13% to 18% — and from 20% to 35% among people who said they voted for President Donald Trump.

    While the percentage of adults agreeing with the statement "women who complain about sexual harassment cause more problems than they solve" changed by just a few points, the number of Trump voters agreeing jumped by 10 percentage points. The number of women agreeing increased by 4%, while the percentage of men agreeing remained more or less the same. 

    The starkest difference in opinion were the responses to the statement "men who sexually harassed women 20 years ago should not lose their jobs today," to which 28% responded yes in 2017 and 36% in 2018. The number of women agreeing increased by 7%, and the percentage of Trump voters saying so jumped by 20 points.

    Nicole Bedera, a PhD candidate in sociology at the University of Michigan whose research focuses on sexual violence, cautioned against drawing broad conclusions from the survey alone due to the timing of the surveys and phrasing of some of the questions.

    In an email to Business Insider, Bedera said that because 2017 results were conducted a few weeks after the #MeToo hashtag first took root on Twitter, they weren't enough of a baseline result to accurately show how people would respond to the same questions before #MeToo.

    This means while support may have decreased compared to last year, it still may be much higher on net than before the movement started and dozens of men were toppled by sexual misconduct allegations. 

    Bedera also argued that the results may be skewed by the complicated phrasing of some questions, making them difficult to answer, particularly the question on women reporting harassment "causing more problems than they solve." 

    "Most organizations are very ill-equipped to deal with sexual harassment in any meaningful way," she said.

    "The result is that even people who support survivors of sexual assault would have a hard time seeing survivors as solving any problems by coming forward... but that isn't so much a failing of survivors as the systems they report to," she added.

    Party identification is often more predictive of a person's opinion than gender

    Kavanaugh protest NYC

    Bedera said that overall, "the survey captures the difficulty of holding a perpetrator of sexual assault or harassment accountable, particularly when that perpetrator is someone we might otherwise care about or hope will succeed."

    She added that the partisan divides in the results show the "dangers of politicizing sexual misconduct: that when the person accused is someone on our side, we will be quick to look the other way — or even actively defend them."

    The Economist noted in its analysis of the data that the average size of the shifts away from believing survivors were larger among women than men, but both they and Bedera pointed out that party identity is usually far more predictive of a given person's views of sexual misconduct — or any issue — than their gender. 

    "Women are not a homogeneous group," Bedera explained.  "White women in particular are divided on issues like sexual violence, largely along party lines. There is also a substantial political divide between single and married white women."

    This broad phenomenon is reflected in the survey data, with the gap between Trump and Clinton voters six times larger than the gaps in opinion between men and women for three of the questions.

    "To understand why women are showing greater support for men accused of sexual assault or harassment, it's important to note which women are expressing those values," Bedera continued. "For example, mothers of college men accused of sexual assault often come to the defense of their sons, regardless of the credibility of the claims against them."

    These divides were also reflected in the public opinion polling on embattled Supreme Court nominee Brett Kavanaugh, who became a particularly polarizing nominee when two women accused him of sexually assaulting them in the early 1980s. 

    While the gender gap on support for his confirmation averaged about 18 points the day before his confirmation, the divide in support for Kavanaugh was a stunning 100 points, around -75 points among Democrats, but +75 among Republicans, according to a FiveThirtyEight analysis.

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