Google is going to close its engineering office in Russia, the Financial Times says.
Russian authorities have been cracking down on internet activity throughout 2014.
In Russia, a new law forces tech companies to keep all data about Russians inside the country's borders.
Google has so far declined to comment.
The government asked Google to remove 253 links from its search engine during a six-month period in 2013, the FT reports.
Google may well be joined in its escape by a host of entrepreneurs and engineers who want to work in less restrictive environments.
Google and its various units have now withdrawn from, been kicked out of, or face crippling restrictions in Russia, China, Spain, and the EU generally. It shows how hobbled even the most innovative tech companies can become in countries that do not have laws guaranteeing free speech.
In the tech world, particularly in Silicon Valley, the prevailing ethos is a libertarian one. Founders tend to believe that their companies are transforming society for the better and that government is a vestige of the industrial era that can be disrupted and swept away by consumer demand and the distribution of power to people.
These are the people who believe they can create independent countries on artificial islands floating off the coast of California, after all.
But recent events are challenging all that: Governments are fighting back, and, in the short run, they're winning:
The long run is another matter. The EU and US spent much of the 1990s and early 2000s trying to break up Microsoft, which at the time had a monopoly position tying its Explorer internet browser to the Windows operating system. Microsoft lost its dominance of the browser and OS markets — but not because of government regulation. Google and Apple came along with more interesting alternative products, and consumers abandoned Explorer in droves. The antitrust fight became an interesting footnote to tech history, but not much more.
Read more at BusinessInsider.com.
In the developed world, and even in the underdeveloped world, petroleum, natural gas and their derivatives are an indispensable part of modern life. Oil and gas have just about every attribute you’d want in a desirable energy source. They’re dense (in terms of potency per volume), denser than most any energy source not produced in a breeder reactor. They’re extremely plentiful. And they’re relatively easy to bring to market; per unit of power, far easier than solar or wind. That’s why ConocoPhillips Co. (COP), the self-proclaimed world’s largest exploration and production company, has grown to become one of the largest corporations on this hydrocarbonated planet.
ConocoPhillips can trace its origins back to the 19th century, when Continental Oil and Transportation (later Conoco) was founded. Philips Petroleum was founded in 1917, the two merged in 2002, and about a decade later the new ConocoPhillips separated into two. It spun its midstream (transportation) and downstream (refining, retail) operations into a new company, Phillips 66 (PSX), while retaining the upstream (finding energy sources and developing them) business. That business is now a $91 billion operation with one of the most robust balance sheets on Wall Street. Among other superlatives, ConocoPhillips has $37 billion in treasury stock on hand, emblematic of a company with a public issue so valuable, it’s worth buying back some of it from the public. Let’s see why ConocoPhillips stock has been such a historically good investment, both for investors and for the company itself. (For more, see: Invest in Share Buybacks With This ETF.)
CRUDE, GAS AND BITUMEN
As an exclusively upstream provider, ConocoPhillips has a relatively small but potent workforce (it’s barely one-quarter the size of Exxon Mobil’s [XOM], for instance). The company operates in 30 countries, several of them not typically regarded as hotbeds of energy activity; such as Poland, Greenland, and East Timor. As for the energy sources themselves, ConocoPhillips is mostly in the business of uncovering three primary ones — crude oil, natural gas (and byproducts, such as propane and butane) and bitumen (which for purposes of discussion among lay people instead of petroleum engineers, is solid oil, more or less).
ConocoPhillips divides its American operations between Alaska and the lower 48. Fully one quarter of the company’s liquid natural gas comes from the Land of the Midnight Sun. Alaskan development is concentrated on the North Slope, and to a lesser extent Cook Inlet (the latter is the body of water delineating the eastern edge of the Alaska Peninsula, 150 miles southwest of Anchorage. Or in Alaskan terms, just down the street). (For related reading, see: OPEC's Restraint Sends Oil Stocks Lower.)
VAST SHALE, OFFSHORE HOLDINGS
South of the 49th parallel, Conoco Phillips has onshore and offshore land holdings that cover an area comparable to the size of the state of West Virginia. In descending order, those vast reaches of land are in the San Juan Basin of New Mexico and Colorado, the Bakken Formation of North Dakota, and the Eagle Ford of south Texas. That’s in addition to another 3,000 square miles of Gulf of Mexico seabed that ConocoPhillips drills in. (For related reading, see: How Chevron Found Itself Spanning the Globe.)
The company has been forced to turn its gaze domestically after encountering multiple roadblocks in its previously fertile South American operations. In 2007 and 2008 the governments of Venezuela and Ecuador just up and commandeered ConocoPhillips’s operations and infrastructure, ignoring rulings issued by the World Bank and impacting the portfolios of tens of thousands of stockholders. Fortunately, there are enough oil and gas deposits in the United States and surrounding waters (and enough highly skilled American employees willing to participate in those deposits’ extraction) that ConocoPhillips can still turn a sizable profit — $9.2 billion last year, down from a zenith of $12.4 billion in 2011.
CANADIAN GAS, OIL SANDS
Now concentrating on exploration in nations with governments more amenable to capitalism, ConocoPhillips’s largest foreign operations are in Canada. The company owns half-interests in natural gas and oil sands properties in northeastern Alberta, with plans to produce further plants that, once online, will produce the equivalent of 125 million oil barrels daily. ConocoPhillips also explores miles upon miles of offshore fields in the Canadian part of the Beaufort Sea — subterranean oil doesn’t recognize the Alaska-Yukon border.
In Europe, ConocoPhillips is the one of the major companies responsible for the commoditization of the nether reaches of the North Sea. Liquid production there outpaces that of Canada currently, with the company’s European operations (both in the Norwegian and British sides of the North Sea, along with comparable finds in Poland and Greenland) totaling about 146 million barrels a day. (For related reading, see: Which Canadian Oil Stocks are the Best.)
HOLDINGS SPANNING THE GLOBE
Continuing with a geographic list of ConocoPhillips’s operations would result in little more than a United Nations roll call. China, Malaysia, Qatar, Libya, Russia, Nigeria, Algeria and Australia all contribute millions of cubic feet of natural gas and barrels of liquid petroleum to Conoco’s operations daily. (For more, see: ConocoPhillips' International Projects.)
ConocoPhillips’s most profitable region of the globe is Asia, the Pacific and the Middle East — the company made $3.53 billion there last year on sales of $8.43 billion, making for a profit margin uncommon even in the energy industry. That’s followed by Alaskan operations, which accounted for $2.27 billion profit on revenues of $8.55 billion. The margins might not be as impressive as those for the former, but on a per-square-mile basis, none of ConocoPhillips’s realms can touch Alaska. (For related reading, see: Why Schlumberger is a Name You Should Know.)
THE BOTTOM LINE
The petroleum industry dominates worldwide for several reasons. Not only is it of critical importance to just about every other industry around the world, but the players have refined, if you will, the complicated and multi-step process of delivering energy from its natural sources to its ultimate consumers. By focusing on upstream production and farming out the subsequent links in the chain, ConocoPhillips has consistently maximized profits in one of the most capital-intensive industries known to man. (For related reading, see: ExxonMobil's Massive and Reliable Money Machine.)
Authored by Greg McFarlane viainvestopedia.com.
Facebook is well aware that its community wants a way to dislike something negative, rather than having to “like” everything.
Asked by a U.C. Davis law student during a public Q&A today if Facebook will ever add a dislike button, CEO Mark Zuckerberg said that the company is “thinking” about it, so that expressing a negative sentiment “ends up being a force for good.”
Zuckerberg acknowledged that the company knows that many people think the “like” sentiment is not appropriate for posts such as when someone is sick. But he seemed to quickly backtrack. “The like button is valuable because it’s a quick way to share a positive sentiment,” Zuckerberg said. “Some people have asked for a dislike button so they can say something isn’t good, and we’re not going to do that. I don’t think that’s good for the community.”
People have long asked for a dislike button, and the question was one of the most common among the thousands of people who had posted comments on the Facebook page for today’s Q&A with Zuckerberg. And the CEO, wearing the same grey T-shirt he always wears, said he knows where people are coming from.
“The thing I think are really valuable is there are more sentiments just than people like something,” he said. “There are things in people’s lives that are sad, or that or tragic, and people don’t want to Like them. We’ve talked about for a while how can people express a wider range of emotions like surprise.”
Authored by Daniel Terdiman via venturebeat.com.
Serial fans may have felt their hearts drop while listening to the latest episode released on Thursday. The new episode ended with host Sarah Koenig revealing that next week would be the final episode of the podcast's first season.
The episode, titled "Rumors," centered on Adnan Syed's personality. At the end Koenig reads a letter Syed wrote to her. She says, "'At this point,' he wrote, 'It doesn't matter to me how your story portrays me — guilty or innocent — I just want it to be over.'"
She adds, "It will be. Next time, final episode of Serial."
Syed was convicted for the first-degree murder of his ex-girlfriend Hae Min Lee in Baltimore in 1999. Both of them were high schoolers at the time. The weekly podcast follows Koenig's investigation of the crime and delves into whether or not Syed was wrongfully convicted. Koenig has repeatedly stated she's not going to necessarily pick a side at the conclusion of the season, because this is real life and doesn't necessarily get a "Hollywood ending."
Serial will, however, have a second season with an entirely new story, that may or may not be focused on a crime. Meanwhile, Syed's case is moving through the appeals process.
Listen to the newest episode here.
Authored by Lorena O'Neil via hollywoodreporter.com.
Iowa is taking plastic drivers licenses into the digital age.Next year, the Iowa Department of Transportation will experiment with issuing drivers licenses via an app. The digital license will display a 3-D photo of the driver's face, which can be rotated side to side so law enforcement can better match the licensee to the picture.
"Really, it's about giving customers a choice," said Andrea Henry, spokeswoman for the Iowa Department of Transportation. "We're in an increasingly mobile world, and there are so many things that are connected to your mobile phone."
The story was first reported in the Des Moines Register.
Since drivers licenses are used for official government identification, the app will be secured with a PIN code. Henry said it could also be secured with a finger print or facial recognition software as well.
Iowa's Department of Transportation will experiment with issuing drivers licenses via an app.That could actually make the digital license safer than the plastic alternative, helping the state cut down on identity theft, impersonations and fake IDs.
But people who want to stick with their plastic license will also be given that option -- or they can ask to have both a plastic license and an app.
The Iowa transportation department has been testing out the app for about a year, and it will deploy the digital drivers licenses to its employees first as a test group. The state hasn't yet set a date for when the digital licenses will be available to the public.
Authored by David Goldman via cnnmoney.com.
Could Airbus drop its Super Jumbo jet after just 10 years in production? Boeing (BA)'s European rival faces a crunch decision on whether to upgrade the A380 or pull the plug.
Airbus (EADSF) has failed to sign up any new airlines for the twin-deck plane this year.
"The group will face a decision over the near to midterm on the future of the A380," Airbus Group CEO Tom Enders told investors.
The numbers don't look great. Airbus says the plane will break even for the next three years -- thanks to orders from existing customers -- but the outlook for 2018 and beyond is far from certain.
Airbus said its priorities are to make the plane more attractive and ensure it doesn't hit group profits.
But finance chief Harald Wilhelm admitted that one option would be to "discontinue the product."
The only new customer Airbus managed to win this year is Amadeo, an aircraft leasing company.
Even it admits the jet is hard to sell.
Some airlines that have signed up are having second thoughts. Air France (AFLYY) has postponed delivery of two out of the 12 A380s it ordered.
Enders said a decision about the future of the plane would be taken purely on commercial grounds.
"It means we need to have a convincing business case, we need to have a convincing customer base and there should be no material deterioration of the group earnings," he said.
Airbus is now under pressure to upgrade the aircraft with new engines to make it more efficient.
The A380 took 15 years to develop at a cost $25 billion. The possibility that it could be ditched -- if only in a worst case scenario -- angered some existing customers.
"We are on the hook for this plane," said Emirates President Tim Clark. "I get pretty miffed when we have put so much at stake," he told Reuters.
Airbus' shares plunged 10% on Wednesday. They were down 5% on Thursday.
Authored by Ivana Kottasova via cnnmoney.com.
While on this trip, Nick realized his trip needed to be more than just moments in time, and that there had to be a better way to capture his memories in the water instead of just settling with one-dimensional pictures taken ashore. The thought of a wearable camera had been floating around in his head for years, but it was this surf trip that got him “fired up” to put the gears in motion. Here’s Nick to tell the story in his own words.
How did the idea for GoPro originally come about?
I’d had the idea for a wearable camera kicking around in my head since the late ‘90s, but I first really started developing the idea back in 2002 while on surf trip in Australia with a couple of friends. We were living out of a Toyota van, putting in about 5,000 miles surfing the East, South and West Coasts. I was spending most of my time in the water, sharing amazing moments and waves with my friends. I was also shooting photos (this was pre-YouTube!) from the beach, but from that distance my shots weren't doing the surf or my friends justice. Some of the most intense and memorable moments in cranking surf were just that, memories. I'd kill for some GoPro footage of that trip! Ironically, that trip is what fired me up to come home and finally start GoPro to create "the invisible camera," a wearable camera so convenient that you forget you've got it on.
At that time, unless you were a pro surfer, there was no one out in the water to capture a photo of you. That's how I came up with the name GoPro. Most surfers, at some point, wish they could "go pro." My friends and I wanted to go pro just so we could get some footage of us surfing; it was that difficult. So I figured at least a few surfers would be down with the concept of a wearable camera. Thankfully, I was half right.
A funny note: our customer service department is headed up by Ruben Ducheyne, one of my travel buddies from the trip. For several years, if you worked at GoPro it was because you went to UCSD with me or were related to me, so we're a tight crew at GoPro. All new hires feel like family thanks to the atmosphere that’s existed since the beginning. It's unreal to see your close friends at work everyday and the progress in incredible as everyone works their boots off thanks to the "family" vibe.
When thinking back about the first time this product idea came to mind, what one memory stands out?
Every time one of us would get a sick barrel, we'd say to each other: "Agghh! If only we had a camera!" Every surfer knows that feeling! But for sure, I've got a couple of photos from early prototypes that convinced me the concept of a "HERO" camera, a camera that helps you capture footage that makes you feel like a HERO, was a good idea. A backhand snap at HT's in the Mentawais that my then girlfriend Jill, now wife, shot while kicking back out on her body board is one of them. Money photo shot by my girlfriend on the paddle back out – priceless.
The memory that probably sticks out the most is when GoPro started to be successful enough to go racing, and I strapped our Digital HERO wrist camera onto the roll bar of a race car. The footage was so good and the camera looked so appropriate on the roll bar that it just hit me like a ton of bricks. I thought immediately, "We've got to make it so you can mount this camera everywhere..." and that was when we transitioned from being simply a wrist camera company, to the world leader in wearable and gear mountable cameras. I guess I can thank that race car for the idea.
How did you raise money to start the company?
Bead and shell belts. No jokes!
After Australia, I flew to Indonesia to surf Bali, the Mentawais, Sumatra and West Java, traveling with Jill who was always pushing us further than I'd have gone alone. Every surfer should be so lucky to have a woman more hardcore than he is! One day Jill comes back to our place in Bali wearing this insanely cool bead and shell belt. Hardcore can be fashionable, too, apparently. Knowing prices in Bali, I asked how much, or how little, she paid for it. After my jaw hit the floor, we paid a visit to the belt maker, ordered 600 more and 2 months later the belts were done and all my boards were broken. We left Bali for California where my '74 VW Westfalia awaited along with a mission to sell as many belts as we could in 2 months, before summer ended. We sold most of them and then I moved back into my parent's place with enough money to launch GoPro.
I thought it'd take two months to roll out our first product; it took two years.
Was there anything similar on the market at the time?
Disposable waterproof cameras were the only option at the time, and you had to be willing to pull the rubber band wrist strap around your neck and paddle around with it like Flava Flav. It was horrible, and 9 times out of 10 you either missed the shot, whacked yourself in the head, ripped your hair out when it got pinched in the rubber band, or you’d lose the camera altogether. I thought I was inventing the most important innovation in surfing while sewing together the first prototype GoPro wrist straps with a sewing machine I’d borrowed from my mom. An inverter rigged to the VW's battery powered the sewer while we camped and sold off those belts. It was a good life!
How has the product evolved from the original concept?
We have had a few big technology jumps. The jump from a 35mm film camera to silent, 10 second digital videos was big! Then came the jump to the 3 megapixel camera that sported an SD card slot and sound. Quantum leap! Next came the 170 degree wide angle lens that really put us on the map. It was like having your own IMAX camera. The effect of that wide angle lens was unreal. That combined with the mounting system that allows the camera to be worn and mounted in all the ways GoPro is now famous for. Our most recent big step is of course the launch of our HD HERO camera, broadcast quality HD for everyday use. It still blows me away how good this camera is, and that's what makes working at GoPro so fun. We're all just a bunch of stoked groms, playing with our own products, just as stoked as everyone else. More stoked, maybe!
Do you still have and/or use your first leash-rigged prototypes?
For sure. I definitely hold onto our old prototypes. I call them the "GoPro Heritage Foundation" anytime I want to watch Jill roll her eyes. Works every time.
GoPro’s initial customer base was surf and paddle-surf participants. In what order did new market segments come about?
With a bit of successful sales came auto racing, something I've always wanted to do. That led to the idea for mounting the camera on everything from cars to helmets to ski poles to surfboards. I think it went auto, then moto, then general outdoor sports, and then ironically back to surf once we felt the product was ready to be mounted on a surfboard. That's the most punishing environment of all...the surfboard. Well, that and a race car redlining at 13,000 rpm and blasting away for 3 hours. R&D at GoPro is a good time.
When was it clear the company had strong enough traction to succeed?
To me, we had it made when we sold $2,000 of the 35mm film HERO camrea to a Japanese distributor at our first ASR trade show in 2004. We were done, on the golden road...the big time. Two thousand dollars at our first trade show? Cash it in, boom. The biggest challenge was trying to look like more than a one person company, which GoPro was at the time.
In truth, GoPro's been profitable since day one and it never occured to me we wouldn’t be successful. Sometimes not having a clue can be your biggest asset as an entrepreneur. Invincibility is a good thing.
Where is GoPro seeing its strongest growth right now?
All of our vertical action sports markets are doing well. And thanks to our broadcast quality HD HERO camera, we're seeing the professional production companies in film and TV buying our cameras as well. Some of your favorite shows on Discovery Channel, National Geographic, Fuel.TV and even LucasFilm are using GoPro in their productions.
GoPro is a ton of fun for this reason. Everyone, for one reason or another, wants to GoPro in their own way. We give many thanks for this.
Can you give us a behind-the-scenes look at the commercialization process of the new HD cam?
I've got to thank our customers for that one. Their own videos and word of mouth stoke is doing more to promote GoPro than we ever could. GoPro is now in the hands of the people, and the people say good things.
Are GoPro products compatible with products from other manufacturers?
The HD HERO is compatible with both PC and Mac, and you can connect it directly to any standard definition or HD TV. You don't even need to own a computer to use the HD HERO camera, which makes it the perfect camera for traveling as you can plug it into any TV to watch your footage.
Now GoPro is the best “action” camera on the market, with HD capabilities, a 170-degree wide angle lens, and it only weighs 5 ounces. That said, what’s the next step for GoPro?
We're addicted to innovation and as long as people want to document themselves and their friends getting rad, we'll be making cameras and accessories that make that easy to do. A new innovation we're proud of is the Wearable 3D(tm) system we're developing. You can take two HD HEROs and combine them in a single housing, plus some GoPro magic, to shoot 3D HD video. This will be released later this year and is mind blowing.
One of our goals is to make the products many of us wish companies would make, but for one reason or another don’t. We're all a bunch of kids on the inside, so we just try to bring out the "wow" in everyone. It's working so far.
GoPro’s mother ship, the Volkswagen Westfalia van in which you made prototypes out of back in the day, was stolen at a tradeshow. Any luck finding the van that started it all? Has it been incorporated in any marketing materials?
All I've got is the key. She was stolen with a full tank of gas and a new paint job. At least she was pretty when she left me...I hope she's doing well.
What’s the strangest story you’ve heard about people using your product?
All I can say is it involved Lake Tahoe, a bath tub, and a bunch of people having a good time. The rest is up for grabs.
Does Bear Grylls from Man vs. Wild use GoPro?
Wow, I hope so. If anyone knows him tell him to give me a call. I'll hook him up. I know Discovery Channel uses our cameras on the Deadliest Catch, but I don't know about Bear and Man vs. Wild. Tell him I say hi. I'd be stoked to meet him. Burly guy.
On a more serious note, does the camera require any specific software for uploads, or is it pretty universal?
No special software needed. It's as simple as uploading any video to YouTube or Vimeo, etc.
How many people work at GoPro headquarters?
I'd tell you but it'd be outdated by the time you get this up on the web. We're growing very quickly, which is a big thrill for everyone here at our world headquarters in the sprawling metropolis of Half Moon Bay.
Is the staff pretty evenly distributed through product design & development, sales, marketing, etc.?
We've been primarily an engineering related company, but over the past couple of years we've focused more on sales than prior, to catch up with demand for our products. We're a product company first and foremost. Our success comes from focusing on building the best possible products and people beating down our door for the products we make. The sales team likes that, makes it easy for them! "If you build it, they will come," has been true at GoPro, but of course our focus on sales in the last couple of years is paying off in spades, too.
With this successful and revolutionary product out on the market, what will be the next departments to hire?
We're always looking for passionate engineers, sales people, and marketers. If you love what you do, you tend to do it well. There's much history yet to be made at GoPro, and we need all the smart, motivated people we can find.
See more at: malakye.com.
Germany, which is spearheading Europe’s fight against U.S. tech giants on everything from data privacy to Google GOOGL +0.01%’s search engine monopoly, is hoping to scupper net neutrality too.
It is opening another front in the growing battle between Europe and the U.S. on control over the Internet, and toward what some warn is an increasing balkanization of the World Wide Web.
In November, President Barack Obama called on the Federal Communications Commission to declare broadband Internet service a public utility, saying that it is essential to the economy and that the “strongest possible rules” are needed to ensure that the Internet doesn’t become divided into fast and slow lanes.
While net neutrality –keeping all traffic on the Internet at equal speed and quality—has traditionally enjoyed bipartisan support in Germany, the signs coming from Berlin the last few months signal a change.
German chancellor Angela Merkel said at a Vodafone event last week that the government should allow telecoms to offer “special services” at a higher speed, reiterating a point made by German economics minister Sigmar Gabriel in October, when he said he couldn’t imagine a German law on net neutrality passing.
Deutsche Telekom DTE.XE -2.57%, the country’s former state-owned telco, has long seen net neutrality as part of its strategy to beat back the dominance of U.S. tech companies like Google, Amazon, Facebook FB +0.17%, and Netflix, who offer so-called over the top services on telcos’ Internet cables.
“Net neutrality the way it has been sold to the public is, in truth, the privileging of American companies,” Telekom spokesman Philipp Blank said.
In an internal position paper Deutsche Telekom said was drafted last year for talks with politicians, the German telecom giant argues for fighting the power of over-the-top or OTT companies in order to help Europe “regain a leading position.”
Yet, behind the shift is also a governmental push to advance high-grade connectivity for German “smart factories” which seek to link assembly lines over the Internet.
Germany is betting that cloud-based manufacturing processes would help local firms like Siemens SIE.XE +1.09%, Bosch and others maintain their technological edge by allowing products to be fully customizable from the shop floor.
In turn, Deutsche Telekom argues this would require more investment in the physical infrastructure for connectivity, and that it should be able to charge more to both end-users and content providers than they are currently allowed to.
“If we really want to guarantee the quality of data transmission needed for e-health applications, driving cars, and industrial processes, then we need another payment model,” said Mr. Blank of Deutsche Telekom.
But not everyone agrees.
“The Telekom’s position is incredibly disingenuous,” said Jürgen Grützner, chief executive of the German Association of Telecommunications and Value-Added Service Providers, a trade association which represents multimedia companies and smaller telecommunications companies.
“Higher prices won’t trigger investment in new infrastructure,” said Mr. Grützner.
According to a study by Rewheel, a research consultancy staffed by open internet advocates, Germany already has some of the highest prices for smartphones in the EU because of the way Deutsche Telekom charges for data.
Thomas Jarzombek, a member of the German parliament in Angela Merkel’s coalition government argues that the government’s new digital agenda won’t impact consumers.
“We want consumers to have freedom of choice and competition, so Internet service providers shouldn’t be given special privileges.”
Authored by Chase Gummer via wsj.com.
After a rough month, First Look Media finally has some good news.
The media and tech startup from eBay founder Pierre Omidyar has a new real-time newsroom, and it is called reported.ly.
Real-time news teams that use social media to compile stories as they happen have become a common feature of modern newsrooms. Reported.ly appears to follow in that notion, but in its own way: It will apparently publish only on social platforms, not on its own website.
Editor in chief Andy Carvin illustrated this in a blog post on Medium:
We don’t try to send people away from their favorite online communities just to rack up pageviews. We take pride in being active, engaged members of Twitter, Facebook, reddit — no better than anyone else there. We want to tell stories from around the world, serving these online communities as our primary platforms for reporting — not secondary to some website or app. Forget native advertising — we want to produce native journalism for social media communities, in conjunction with members of those communities.
Reported.ly is the first new endeavor from First Look since the exit of Matt Taibbi and the shuttering of his digital magazine, Racket. That episode exposed a great deal of tension within First Look between its journalists and executives.
It is unclear at this point if reported.ly has a plan to monetize, and whether it will have much interaction with The Intercept, First Look's flagship publication. The company has said it is seeking nonprofit status for its media outlets, but will also have a for-profit technology company.
Authored by Jason Abbruzzese via mashable.com.