Mark Zuckerberg won’t sell his shares for another year; what happens when a Kickstarter campaign fails?
Start thinking about 5G wireless [CNNMONEY]
“5G won’t be about more speed, necessarily,” says Tod Sizer, head of wireless research at Alcatel-Lucent’s (ALU) Bell Labs. “It may be faster, but it will be more about meeting the expectation of service quality. Each generation of network technology has enabled a new set of features: 2G was about voice, 3G was about data and 4G is about video. 5G, Sizer predicts, will be about intelligent networks that can handle billions of connected devices while remaining stable and operational.
Facebook cancels secondary offering, Zuck and board members won’t sell to keep shares off the market [TECHCRUNCH]
With its share price ailing, Facebook doesn’t want to flood the market with any more stock, so it has cancelled its secondary offering and will instead pay for taxes on its RSUs with cash as detailed in an 8-K filed with the SEC today. Also, CEO Mark Zuckerberg has informed the SEC he has no plans to sell any of his stock in the next year. Meanwhile, board members Marc Andreessen and Don Graham will sell some to cover taxes but beyond that “have no present intention to sell any shares”.
Along with allowing employees to sell stock two weeks sooner than the original November 14th lockup expiration date, today’s announcement will let Facebook get the lockup over with sooner, avoid a secondary sale or big shareholder dump from hurting its share price, and finally get back to business.
FBI denies claims of Apple ID hack [CNN]
The FBI on Tuesday said there is “no evidence” to support claims by a hackers group that they accessed information about millions of Apple users on a bureau computer. The hackers have posted online what they claim are the IDs of more than 1 million iPhones and iPads. And they say that’s just part of the more than 12 million IDs — and other information such as users’ names, cell phone numbers and billing addresses — they got from the laptop of an FBI agent.
When a Kickstarter campaign fails, does anyone get the money back? [NPR]
So I call Kickstarter co-founder Yancey Strickler, and ask: What if Uhrman isn’t able to deliver the consoles? Would Kickstarter get involved?
“You know, that would be new ground,” he says. “I don’t know. I mean, no, I don’t think that we would. But certainly, the kind of thing you’re talking about is not a bridge that has been crossed yet. Someday it will. And you know, I think if something did go awry, it would be — it wouldn’t be my favorite day.”
Galaxy S III passes Apple’s iPhone 4S, becomes top selling US smartphone [Apple Insider]
Samsung’s lead is expected by analyst Michael Walkley with Canaccord Genuity to be short-lived, however, as Apple is widely expected to unveil its next-generation iPhone next week. Walkley said in a note to investors on Tuesday that his checks with U.S. carriers found that iPhone sales have been soft ahead of the launch of Apple’s next iPhone, allowing Samsung’s Galaxy S III to take the top spot.
