Posts Tagged ‘Twitter’

Media Navel Gaze

The Week Unpeeled

The @ sign did some major overtime in headlines last week following the Twitter IPO, which by all accounts so far has been a success with early valuation at approximately $18 billion, led by Goldman Sachs, in the biggest tech launch since Facebook—not bad for a company that is losing money; Coverage not only focused on the launch, the wealth and the 140 characters but also social-media advertising and what businesses may be most successful in marketing on this platform.

Elsewhere:

  • The US employment picture brightened with an unexpected 204,000 jobs added in October amid upward revisions to the two prior months and a steady jobless rate of 7.3 percent and talk of less tapering in the months ahead;
  • The Dow ended the week 0.9 percent higher to close at a record 15,761 following a jobs-report rally on Friday;
  • President Obama made a major public apology over Obamacare and his “keep-your-plan” vow;
  • The biggest typhoon on record hit the Philippines with winds exceeding 170 miles per hour;
  • Nikki Finke leaves Deadline Hollywood, where the blogger broke countless celebrity and film-industry business stories and tweeted she has no non-competes so stay tuned;
  • Bill de Blasio wins the mayoral race in New York in a landslide left-leaning election;
  • A Tesla car was destroyed by fire after its battery was damaged, sending shares sharply lower for the closely watched electronic car company; and
  • Amid fall art-auction season, Christie set the highest price ever at $85 million for a triptych by British artist Francis Bacon . . . a week of superlatives all around. End of Story
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Media Navel Gaze

The Week Unpeeled

Twitter continued to gain (in my opinion, an inordinate) amount of coverage for its upcoming IPO (media loves to cover the media more than anything, right?), with per-share pricing valuing the company at more than $11 billion (hardly, the total in fines or near the legal bills for JP Morgan this year, by the way).  In fact, JP Morgan agreed to more settlements last week, this time with Fannie Mae and Freddie Mac at $5.1 billion, for misleading the housing-financing agencies about the quality of securities sold.  #seriouslywhatsnext?

Elsewhere:

  • President Obama admitted the government health web site was botched, and the failed launch was blamed on poor coordination;
  • Housing refinancing is slowing and banks like BoA are laying off;
  • The US was called out for allegedly monitoring German Chancellor Angela Merkel’s cellphone #canwehearyounow?;
  • Time Warner will begin distributing Al Jazeera America;
  • Senior New York Times Editor Richard Berke is leaving the Grey Lady for Politico;
  • The US unemployment report was released, delayed by weeks because of the government shutdown, with only 148,000 jobs added in September (but did anyone really notice the delay?);
  • Prada joins the literati set by launching Journal Prada: A Place for New Stories, a showcase for writers who won a Prada literary contest #readytoread; and
  • Stocks ended higher last week, amid signs that the Fed will continue with its easy credit stance and strong tech-company results, with the Dow up 1.1 percent to close Friday at 15,570. End of Story
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Media Navel Gaze

The Week Unpeeled

Most of the business headlines were overshadowed by the Syria strategy flip flops until Twitter announced on, well, Twitter its plans to go public  -- full stop.  No details were forthcoming, using Jobs Act regulations that make disclosure unnecessary for companies under $1 billion in revenue and easy to tell all in 140 characters; Goldman won the IPO mandate and the news even made the full front page of The New York Post, showing media loves to cover media.

Elsewhere:

  • Tina Brown announced she was leaving The Daily Beast and publishing all together (at least for now) and focusing on a conference company based on her Woman in the World summits;
  • Bloomberg appointed executive editor Tim Quinson (an insider?) to be its standards editor, a new position put in place following the discovery that journalists were improperly accessing customer data;
  • Apple launched two new iPhones, one cheaper and in color and one fancier with fingerprint sensors;  investors did not bite;
  • In an apparent first, Bloomberg Businessweek  was behind a documentary on former Treasury Secretary Henry Paulson called Hank, which debuted last week in time for the five-year anniversary of the financial crisis and will be available on Netflix;
  • Verizon offered a  whopping $49 billion in bonds last week for its acquisition of its wireless business amid whopping demand;
  • The Dow shape-shifted removing Hewlett-Packard, Bank of America and Alcoa and added Nike, Goldman Sachs and Visa; and
  • The blue-chip average soared 3 percent last week to end Friday at 15,376, the biggest gain since the first week of the year. End of Story
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“Trolls are just getting more and more aggressive and uglier and I just came from London where there are threats of rape and death threats. I feel that freedom of expression is given to people who stand up for what they say and not hiding behind anonymity,” said Huffington Post founder Arianna Huffington after announcing the end to anonymous comments under her watch. “We need to evolve a platform to meet the needs of the grown-up Internet,” she said.

Huffington vs. Dorsey

It’s true that anonymity allows for abusive expression without accountability, so why is she receiving such a mix of support and harsh criticism from fellow journalists and freedom of expression advocates?

Huffington’s critics accuse her of viewing the issue narrow-mindedly. It’s not that they disagree about the immature and often abusive tendencies of Internet trolls, they just believe she failed to consider and appreciate the inherent value of anonymity and the consequences of doing away with it. Joanna Geary from The Guardian wrote an article titled “Forcing commenters to use real names isn’t the answer, Arianna Huffington”; similarly, GigaOM reporter Mathew Ingram’s was “Dear Arianna: Anonymity has value, and doing away with it won’t solve your commenting problem”; and Michael Morisy from Boston.com went as far as titling his “Arianna Huffington versus history: Will real names stop trolls, or just free speech?” Read the rest of this entry »

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Media Navel Gaze

The Week Unpeeled

Egypt erupted and markets tumbled (unrelated though) taking the sizzle out of summer as bloodshed increased between the ousted party in Cairo and the militants (it’s not a “coup,” though, for technical reasons as we learned this week) and stocks fell on concerns that the Fed will ease its easing program. The Dow ended the week down 2.2 percent to close Friday at 15,081.

Elsewhere:

  • The Euro recession officially “ended” with economic data in France and Germany suggesting modest recovery;
  • US Justice Department grounded the American Airlines/USAirways merger, at least for now;
  • Carl Icahn took a $1.5 billion stake in Apple;
  • John Paulson, billionaire hedge funder, bought Steinway Pianos for $512 million, the first actual purpose of a company for Paulson and Co., with a nice business/feature story on the transaction from Will Alden in The New York Times, himself once a competitive pianist whose passion for the ivories is evident in his coverage;
  • The US charged two JP Morgan traders tied to the London Whale case (but not the whale himself); and
  • The media spotlight continued to shine on the upcoming appointment of the next Fed chairman in what seems to be a particularly bright light (and not always flattering) on Larry Summers, the former top economic advisor to Obama,  with even Better Midler joining in on Twitter questioning the choice (“Larry Summers, Mr. De-Regulation, has never stepped forward to say… Oops! My bad!” -- which was picked up by The Washington Post and then Maureen Dowd in The New York Times (showing social can actually go traditional viral). End of Story
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