Goldman Sachs-Facebook Deal Actually Was Too Good To Be True

January 18th, 2011

“It was supposed to be Wall Street’s hottest tech deal in years: the private offering of as much as $1.5 billion in shares of Facebook Inc… Goldman bankers burned up the phone lines in the first week of January, pushing many of their best American clients to invest in the deal. And then, on Sunday and Monday, those same advisers were on the phone with those same clients with some bad news. They wouldn’t be getting any Facebook shares, after all… Goldman worried that the media spotlight surrounding the private offering might violate U.S. securities laws and expose the firm to legal action.”

What do you think?

How would you feel if your bank promised you something it couldn’t deliver? How much would you risk to be one of the first investors in a hot company like Facebook?

Mobile Banking Reaches Ravaged Port-au-Prince

January 14th, 2011

port-au-prince.jpg

credit: newbeatphoto

Effective humanitarian aid isn’t always about food and shelter. Find out how the Gates Foundation is pursuing some long-term solutions to Haiti’s problems…

  • Mobile technology is changing the world – especially in places where wireless technology can sidestep problems with a nation’s telecommunications infrastructure.
  • Now this technology is going to help Haiti in a different way, by making cell phone banking widely available.
  • After a natural disaster, local banks may be destroyed and Internet access nowhere to be found. Plus, mobile banking is safer. In the security crisis of post-earthquake Haiti, carrying cash has become a hazard.

Facts & Figures

  • Over $30 million was raised for humanitarian relief after the quake
  • Many of those donations came in via text message, $10 at a time
  • The Gates Foundation and USAID are donating a total of $10 million to companies that can bring mobile banking to Haiti
  • Fewer than 10% of Hatian citizens have ever used a commercial bank, but nearly every family has access to a cell phone

What Do You Think?

Would you donate to an organization that focused solely on bringing technology to people in need? Would you choose that over a traditional food-and-shelter humanitarian aid organization?

The Road from Liberia to Gilt City

January 14th, 2011

nathan-richardson.png Nathan Richardson is the President of Gilt City, the local child of new (and wildly successful) luxury deals site Gilt Groupe. But he’s more than that. Throughout his career so far, he’s traveled from Senegal to Libera to Yahoo! Finance and Dow Jones. Big-hearted, intelligent and multi-talented (obvs), we’re proud to call him a friend here at TILE.

TILE: What’s it like working for Gilt? Is your wardrobe amazing?
Nathan: It’s a blast – we work really hard, move the ball forward every day, work closely as a team, and get to engage with some of the coolest restaurants, clubs, services and events in the hottest cities in America. Fair to say my wardrobe has been upgraded and the number of hoodies and fashion sneakers that I own multiplied like a gremlin.

TILE: In your career, you’ve worked at a bunch of different companies – from Citibank to Yahoo! Finance to Dow Jones online. How have these different experiences helped you in your current job?
Nathan: Every experience taught me a different set of skills that play into the diverse hats that I wear in a given day [at Gilt]. I learned about financial mechanics at Citi, about moving fast and being only as good as what you did that morning at Yahoo Finance (a healthy paranoia), and about the importance of brand & voice at Dow Jones.

TILE: You’re very accomplished in the business world, but you’ve also taken the time to help others – both in the Peace Corps and as the director of the International Rescue Committee’s Liberia Program. How do you balance these two passions?

Nathan: I joke that I am a humanitarian to fashion people – providing them great value on the luxury items that they have to have! All of my experiences have several things in common: the pace, the energy, and the need to be fully committed in a way that transcends a 9 to 5. I also stay involved with my Peace Corps family and the artisans I worked with at the Artisan Village of Thies. I’m also a big fan of the IRC’s work in Liberia, and I’ve returned several times to check in on projects that I am passionate about.

TILE: What’s the Peace Corps like? Would you recommend it to someone graduating from college?
Nathan: Loved my experience in the Peace Corps – it is one of the toughest jobs you’ll ever love as the tag line says. I gained exposure to projects and accomplished more in those 2.5 years than you can imagine  – as well as gained lifetime best friends.

The Peace Corps’ three goals are to share American culture with the host country; learn about the host country culture and share it with America (Senegal is amazing!); and technical transfer – I was a small business volunteer with several serious projects.

TILE: What’s the best advice you would give to your teenage self?
Nathan: Wow – that’s a tough one. I would probably say broaden your horizons earlier, learn a language, and love the moment a bit more. What do I mean by that? I wish I’d learned Chinese and studied in China at an early age and also remembered to celebrate all the amazing things that were going on around me…

>> TILE brings you exclusive opinions, explanations, and interviews from experts in every industry. To read more, click on Ask the Experts in the TILE Library.

Have a burning question or an expert you’d like to see interviewed? Just Ask TILE!

Do you spend real money on unreal things?

January 14th, 2011

Apparently a lot of teens do! Check it out: http://bit.ly/iiJFbK

Do you spend real money on unreal things?

January 14th, 2011

Apparently a lot of teens do! Check it out: http://bit.ly/iiJFbK

Does thinking luxuriously impact your decision-making abilities?

January 13th, 2011

mr-burns.jpg
credit: lisatozzi

You know how some medications say “do not operate heavy machinery or make important decisions while taking this medication?” Well, according to a new study conducted by Harvard Business School, it might not be the best idea to make certain decisions while thinking about your next big bonus either. Especially if those decisions impact other people – like your boyfriend or girlfriend, your sibling, your friend, your co-worker. 

Here’s an excerpt from the study:

  • People who were asked to think about luxury before a decision-making task were more likely to endorse self-interested decisions that might potentially harm others.
  • Although luxury does not necessarily induce people to harm others, it may cause them to be less considerate.
  • Limiting corporate excesses and luxuries might be a step toward getting executives to behave more responsibly toward society.

Does thinking luxuriously impact your decision-making abilities?

January 13th, 2011

mr-burns.jpg
credit: lisatozzi

You know how some medications say “do not operate heavy machinery or make important decisions while taking this medication?” Well, according to a new study conducted by Harvard Business School, it might not be the best idea to make certain decisions while thinking about your next big bonus either. Especially if those decisions impact other people – like your boyfriend or girlfriend, your sibling, your friend, your co-worker.

Here’s an excerpt from the study:

  • People who were asked to think about luxury before a decision-making task were more likely to endorse self-interested decisions that might potentially harm others.
  • Although luxury does not necessarily induce people to harm others, it may cause them to be less considerate.
  • Limiting corporate excesses and luxuries might be a step toward getting executives to behave more responsibly toward society.

That Custom-Made Suit Is Going To Cost You

January 12th, 2011


credit: John_Brennan

If you’re not sure what inflation looks like in real life, try asking your tailor. Having suits and dresses made to order in Hong Kong or Singapore used to be the secret to looking good on a budget. But all that is starting to change. Here’s why:

1. Inflation! The apparel industry has been safe from inflation for a long time, but fabric today is more expensive than it was a few years ago. In 2010 alone, the price of cotton in Hong Kong went up by 91%. More expensive materials = a more expensive product.

(And because inflation generally raises prices across the board, tailors are demanding higher wages so they can keep up with the cost of everyday living.)

2. Consumer demand! More people have the money to order custom clothing these days, and tailors and materials are in short supply. That means more work for tailors, and a higher price tag for customers. In other words, the supply of materials and producers has stayed the same, but the demand for finished products has increased. When demand exceeds supply, you’ve got a price increase on your hands.

New Prices:

  • A custom suit made in Singapore with expensive luxury fabric runs about $5,400. A similar suit by an Italian producer might cost $10,000.
  • In 2009, a custom shirt from Singapore cost $177; today it would cost about $330.

“We’re so busy that we’re having to turn some people away.” – Mark Cho, Co-Founder of The Armoury in Hong Kong

Who said this?

January 12th, 2011

“A wise man should have money in his head, but not in his heart.”

Who said it?

Jonathan-Swift.jpeg

Jonathan Swift, author of Gulliver’s Travels.

We couldn’t agree more, Mr. Swift. But what about putting a little heart into your money? There are all kinds of ways to use what you’ve got to make your values known. And today, while wacky hairdos will get you attention, your money is really what talks.

  • Support an organization that’s fighting for a cause you believe in
  • Help your friends do good by organizing a fundraiser (um, party?) where everyone can combine their donations to make an even bigger impact
  • Spend wisely – if you don’t believe in sweatshop labor, you definitely don’t have to give your money to companies that use it
  • Make sure your investments are in line with your values. If you don’t know what stocks you actually own, there’s probably someone you can ask. So ask.

(via moneyisnotimportant)

Who said this?

January 12th, 2011

“A wise man should have money in his head, but not in his heart.”

Who said it?

Jonathan-Swift.jpeg

Jonathan Swift, author of Gulliver’s Travels.

We couldn’t agree more, Mr. Swift. But what about putting a little heart into your money? There are all kinds of ways to use what you’ve got to make your values known. And today, while wacky hairdos will get you attention, your money is really what talks.

  • Support an organization that’s fighting for a cause you believe in
  • Help your friends do good by organizing a fundraiser (um, party?) where everyone can combine their donations to make an even bigger impact
  • Spend wisely – if you don’t believe in sweatshop labor, you definitely don’t have to give your money to companies that use it
  • Make sure your investments are in line with your values. If you don’t know what stocks you actually own, there’s probably someone you can ask. So ask.

(via moneyisnotimportant)

« Older Entries
Newer Entries »