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Mark Zuckerberg just showed off his first new outfit in years — it’ll cost you $1,000 to steal his look (FB)

Posted: 01 May 2018 02:15 PM PDT

Mark Zuckerberg Facebook F8 2018

Mark Zuckerberg may have finally given up his uniform. 

Zuckerberg appeared on stage Tuesday at F8, Facebook's annual developer conference. While Zuckerberg announced a slew of product news — including the fact that Facebook is introducing its own dating feature — perhaps the biggest surprise of the day was his new look. 

Zuckerberg showed up wearing a blue long-sleeved sweater, black jeans, and the same black Nike sneakers as before. 

It was a dramatic departure from the standard uniform of a gray t-shirt, blue jeans, and gray Nikes that he's worn at most public appearances for many years now. 

If you want to cop Zuckerberg's new look, it'll cost you around $1,000. It's actually hard to get an exact figure: The clothes that Zuck wears are so generic, it's hard to tell exactly who made the pieces of his new outfit. In fact, if you're budget-conscious, you could put together a lower-end version for $200 or so. 

While it may not sound like much of a switch — Zuck was still dressed pretty casually, after all — the Facebook CEO is notoriously anti-fashion. He's said in the past that he wears the same uniform each day in order to be more focused and efficient, and seemingly doesn't even have other clothes in his closet, if this photo is any indication. 

"I really want to clear my life to make it so that I have to make as few decisions as possible about anything except how to best serve this community," Zuckerberg said in a 2014 Q&A. "I feel like I'm not doing my job if I spend any of my energy on things that are silly or frivolous about my life."

Of note: While Zuckerberg has never said so in public, fashionistas believe that each of those grey t-shirts cost about $350, from the designer Brunello Cucinelli.

But Zuckerberg has had a challenging year thanks to the Cambridge Analytica scandal and the resulting Facebook user backlash. While it's not clear whether his F8 outfit marks a permanent change or a one-time trial, either way, Zuck certainly looks better than he has in years. 

Here's a look back at Zuckerberg over the years — and how you can adopt his new style. 

SEE ALSO: Silicon Valley's ultimate status symbol is the sneaker — here are the rare, expensive, and goofy sneakers worn by the top tech CEOs

Here's Zuckerberg back in 2008 at Facebook's second annual F8 event. This was during the hoodie years — and check out those jeans!



By 2010, Zuckerberg switched to a black hoodie with Facebook symbols embroidered on the front. Here, he's rocking Brooks running shoes.



Here's Zuckerberg in 2011. He ditched the hoodie for just a gray t-shirt, jeans, and Brooks sneakers.



See the rest of the story at Business Insider

Tinder's parent company roasts Facebook's plan to get into dating: 'This product will be great for US/Russia relationships'

Posted: 01 May 2018 02:13 PM PDT

tinder dating app

  • Mark Zuckerberg announced on Tuesday that Facebook is introducing a dating feature to its site.
  • In response, the chief executive of Match Group's parent company suggested that the product "could be great for US/Russia relationships."
  • Match Group CEO Mandy Ginsberg said in a statement that she was "surprised by the news," while a representative at Bumble said that the company was "thrilled."

At Facebook's annual developer conference F8, Facebook founder Mark Zuckerberg announced that Facebook will soon offer features to help people date each other through the network.

The news of Facebook getting into dating drew immediate reactions from the key players in the market. 

Joey Levin, chief executive at Match Group's parent company IAC, extended a barbed invitation that referenced Zuckerberg's recent trip to Washington D.C.: "Come on in," Levin said. "The water's warm. Their product could be great for US/Russia relationships."

Mandy Ginsberg, CEO of Match Group, which own Plenty of Fish, Tinder, OkCupid, and Match.com, said in a statement that she was "surprised at the timing given the amount of personal and sensitive data that comes with this territory." 

"We understand this category better than anyone," the statement continued. "Facebook’s entry will only be invigorating to all of us."

Bumble, which has clashed with Match Group numerous times within the past month, said the company was "thrilled when we saw today's news."

"Our executive team has already reached out to Facebook to explore ways to collaborate," a spokesman for the company said in a statement. "Perhaps Bumble and Facebook can join forces to make the connecting space even more safe and empowering."

Join the conversation about this story »

NOW WATCH: How a tiny camera startup is taking on Amazon and Google

Cisco sheds a costly mistake, as it sells off a $5 billion acquisition for $1 billion (CSCO)

Posted: 01 May 2018 01:59 PM PDT

Cisco Chuck Robbins John Chambers

  • Cisco finally has a buyer for its service provider video business, a unit that has struggled over the years.
  • It is selling the unit to back to the same private equity firm Permira, who will spin it out as its own company. It's CEO will be Dr. Abe Peled, who was the former CEO of NDS.
  • Peled and Permira got a great deal, too, according to reports.
  • This sale piggybacks on other moves CEO Chuck Robbins has made to change Cisco's strategy and direction.


Cisco announced on Tuesday that it finally has a buyer for its service provider video business — a unit that has struggled over the years as the cable industry has been upended by cord cutters and streaming services.

Cisco came into this business in 2012, when it acquired an Israeli company called NDS for $5 billion from the private equity firm Permira. That was one of its largest acquisitions under previous CEO John Chambers. 

It is now selling the unit to back to the very same Permira, who will spin it out as its own company, to be led by Dr. Abe Peled as CEO. Dr. Peled was the former CEO of NDS.

Essentially, the old gang bought their company back from Cisco.

And they got a smoking good deal, too, according to some reports. Although Cisco did not disclose financial terms, Permira is reportedly paying about $1 billion, according to Israeli business news site Globes. Other sources told TechCrunch's Ingrid Lunden that they are paying way less than that. Cisco declined our request for comment.

Although Cisco is selling off the unit's products and customers, Cisco is retaining a lot of the intellectual property for sending video across networks. Much of that development happened while the unit was part of Cisco. 

This is part of CEO Chuck Robbins' massive about-face, as he shifts the company's strategy away from that  of Chambers. He began this change of direction in 2015 when one of his first orders of business was to sell Cisco's TV set-top business to Technicolor for $600 million, a business it had bought for $6.9 billion.

Cisco spent years doing market research surveys, known as the Visual Networking Index, to show potential service provider customers how video was going become a bigger and bigger part of the data on their networks. The subtext was that the world needed to buy new networking equipment from Cisco to handle the video.

And while it is true that video has taken the world by storm, Cisco's vision for the future of online video never really caught on. The company had speculated on developments like streaming social media on the TV alongside TV shows (so people can post while a show airs), or ways to serve up ads that allow people to click and buy the products immediately, as the commercial airs.

Such ideas have not taken off, as people watch less shows and movies on their TVs, and more on their phones and tablets. And for immediate online shopping, the Amazon Echo and Google Home are starting to provide a sense of how that will play out. 

And so, in 2017, the service provider video business had shrunk so much that when Cisco restructured itself, it got tossed into the "Other Products" category along with some unnamed "various emerging technologies." Other Products was down 19% year-over-year in Cisco's fiscal year 2017 and down another 13% year over year so far for FY18, Cisco said.

Cisco has reportedly been looking for a buyer for this business since October, Bloomberg reported at the time.

In the meantime, Cisco is still hot on the trail pursuing Robbins' new strategy, which revolves around cloud, collaboration and software subscription services.

Also on Tuesday, it announced that it had acquired hot Silicon Valley AI startup, Accompany. Accompany provides a database of information on executives that helps you beef up on people before you meet them. It was named to Business Insider's 50 startups that will boom in 2018.

SEE ALSO: Amazon CEO Jeff Bezos explains his famous one-character emails, known to strike fear in managers' hearts

Join the conversation about this story »

NOW WATCH: A cybersecurity expert showed us how hackers can tap into an office phone and listen to everything you're saying

9 photos of Russian troops setting up and test firing the Iskander-M short-range ballistic missile

Posted: 01 May 2018 01:59 PM PDT

Iskander-m short-range ballistic missile

Russia's Iskander-M short-range ballistic missile will be unmatched until at least 2025, Russian state-owned media TASS reported in March. 

"According to designers, foreign states will be able to create its counterpart no earlier than in 2025," Russian Ground Forces Commander-in-Chief Col. Gen. Oleg Salyukov said.

Salyukov's statement came just a few days after Russian troops successfully test fired the Iskander-M at the Kapustin Yar testing grounds in southern Russia.

The missile hit its target about 62 miles away, according to RT, another Russian state-owned media outlet.

"Everything is fine. The missile has found its target," the commanding officer said.

Here's what the test fire looked like and what the ballistic missile can do:

SEE ALSO: 8 photos of the S-400 in Syria, Russia's most advanced missile defense system that the US could go up against

SEE ALSO: This is the Patriot missile defense system that just 'failed catastrophically' in Saudi Arabia

The Iskander is a mobile short-range ballistic missile that became operational in 2007.

It's also known as the SS-26, Stone, Tender, 9M720, 9M723, or "Son of Scud," because it replaced the Scud B. 

Source: CSIS



It has three different variants: the Iskander-M, the Tender, and the Iskander-E, which is the export version.

Source: CSIS



It's about 24 feet long, about three feet wide, and has a launch weight of about 8,378-8,863 pounds.

Source: CSIS



See the rest of the story at Business Insider

The 100 best movies on Hulu right now

Posted: 01 May 2018 01:59 PM PDT

Creed Warner Bros final

You probably head over to Hulu for all the TV it has to offer. But the streaming service also has a lot of great movies, too.

From classics like "A League of Their Own" and "Dirty Dancing" to modern favorites like "Zodiac" and "Creed."

Scroll down to check out the 100 best movies to watch on Hulu right now.

Note: Numerous Hulu titles drop off the streaming service monthly so the availability of titles below may change.

SEE ALSO: The 25 worst superhero movies of all time, ranked from bad to unwatchable

"10 Cloverfield Lane" (2016)

If “The Cloverfield Paradox” on Netflix left you with a bad taste in your mouth, rewatch the best movie in the franchise (so far).



"13 Hours: The Secret Soldiers of Benghazi" (2016)

Michael Bay turns serious for a sec as he looks back on the six members of a security team who fought to defend the US diplomatic compound in Benghazi, Libya, during a terrorist attack in 2012.



"50 First Dates" (2004)

Following the box-office success of “The Wedding Singer,” Adam Sandler and Drew Barrymore reteam for this cute romantic comedy.



See the rest of the story at Business Insider

A famous dog stole the show at Facebook's F8 developer conference — here's everything you need to know about Instagram star Jiff Pom, who has 26 million fans (FB)

Posted: 01 May 2018 01:58 PM PDT

Facebook F8 2018 Jiffpom dog on stage

Facebook CEO Mark Zuckerberg enlisted the help of Instagram star Jiff Pom to unveil Instagram's new augmented reality filters at Tuesday's F8 developer conference.

Jiff Pom, short for Jiff the Pomeranian, wasn't on stage long but that doesn't mean we weren't all basking in his cuteness and wondering who the furry guy is.  

Take a look below to meet Jiff Pom.

 

 

SEE ALSO: Mark Zuckerberg rallied the troops and aimed at new frontiers in online dating and virtual reality during Facebook's biggest event of the year

Say hello to Jiff.

Instagram Embed:
//instagram.com/p/BhlebBMneTH/embed
Width: 800px

 



He's an LA-based actor, personality, and model with 26 million followers across all social media channels.

Instagram Embed:
//instagram.com/p/BT8yr4sgMTd/embed
Width: 800px

 



He works as a personality, meeting everyone from CEOs of major tech companies to beauty influencers. Here he is with Brazilian personality Mariana Saad.

Instagram Embed:
//instagram.com/p/BhvDQSmnmCn/embed
Width: 800px

 



See the rest of the story at Business Insider

Apple pops after crushing earnings (AAPL)

Posted: 01 May 2018 01:39 PM PDT

Apple stock price earnings per share revenue profit


Shares of Apple are up more than 4% in after-hours trading Tuesday following second-quarter earnings from the company that topped analyst expectations. 

Here are the key figures: 

  • Revenue: $61.1 billion versus an expected $60.86 billion
  • Earnings per share: $2.73 versus an expected $2.60
  • iPhones sold: 52.2 versus an expected 51.9 million.

The company also announced a $100 billion share buyback in addition to boosting its dividend by 16% to $0.73 per share.

"We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables," said CEO Tim Cook in a press release. "Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan."

Shares of Apple have declined 1.6% since the beginning of 2018. 

SEE ALSO: Millennial investors are gobbling up Apple stock ahead of earnings

Join the conversation about this story »

NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown

There's an incredible 'Avengers Infinity War' Easter egg hidden inside the new 'God of War' game

Posted: 01 May 2018 01:36 PM PDT

God of War (2018)

  • The new "God of War" game, a PlayStation 4 exclusive, has an incredibly clever crossover with "Avengers Infinity War."
  • One of the items in the game is a "shattered gauntlet," which alludes to the Infinity Gauntlet at the center of "Avengers Infinity War."
  • Finding the right enchantments for the shattered gauntlet will give Kratos awesome cosmic powers comparable to Thanos, the big bad in "Avengers Infinity War."

"God of War," an exclusive that debuted in April for PlayStation 4, is one of the best games ever made because it does such a good job at nailing the fine details.

One incredibly fun detail in the game, which was recently spotted by Reddit user moxxxxxi, is an unofficial tie-in to the new Marvel Studios movie, "Avengers Infinity War."

In "God of War," if you complete a certain side quest called "Family Business," you'll be rewarded with an accessory called the "Shattered Gauntlet of Ages." 

Here's the description of the Shattered Gauntlet of Ages:

"An ancient relic of Hel deemed too powerful to remain whole, fragments of its former strength lie scattered throughout the realms..."

This Shattered Gauntlet of Ages is a direct reference to the Infinity Gauntlet, the centerpiece of the new movie "Avengers: Infinity War." The gauntlet is a weapon capable of combining the powers of the six Infinity Stones, which each control a fundamental aspect of life itself, in turn. The stones include the Space Stone, Mind Stone, Power Stone, Soul Stone, Time Stone, and Reality Stone.

In "God Of War," the true power of the Shattered Gauntlet of Ages unlocks when you power it up with three out of six "enchantments" you can find in the game.

The enchantments, which give your "God of War" gear unique powers and abilities, also have names that correspond to the six Infinity Stones, as Redditors also discovered. Check it out:

Eye of the Outer Realm = Space Stone

Ivaldi's Corrupted Mind = Mind Stone

Muspelheim Eye of Power = Power Stone

Andvari's Soul = Soul Stone

Njord's Temporal Stone = Time Stone

Asgard's Shard of Existence = Reality Stone

When you place any three of the six enchantments in the Shattered Gauntlet of Ages, you can actually shoot energy out of your glove — just like Thanos does in "Avengers Infinity War."

It's an incredibly clever nod to the classic comic book series from Marvel, and to the current pop-culture phenomenon surrounding "Avengers: Infinity War." The Marvel Studios film notably scored the biggest box-office opening weekend of all time, both globally and in the US.

For more on how the Shattered Gauntlet of Ages works in "God of War," check out the video below:

SEE ALSO: 'Avengers: Infinity War' changes up the bizarre reason Thanos wants the Infinity stones in the comics — here's why

Join the conversation about this story »

NOW WATCH: 10 things you missed in the 'Avengers: Infinity War' trailer

A founder who sold his last startup for ~$50 million is using book and movie deals to boost his new YouTube-centric media company

Posted: 01 May 2018 01:36 PM PDT

chicken girls brat 2

  • We live in a media era dominated by big franchises from companies like Disney.
  • But Brat cofounder Rob Fishman thinks that digital media startups don't do enough building of their own franchises early on.
  • Brat already has a movie and book deal for one of its shows, "Chicken Girls," and is looking to do more.


There's no doubt we live in the age of behemoth entertainment franchises — beloved properties from Marvel to Game of Thrones that have the power to cut through our fractured media landscape and bring people together.

Disney has built its broad strategy around this concept, especially in the last decade, and seen its stock go up and up.

But franchises aren't just for the giants, Brat cofounder Rob Fishman told Business Insider in a recent interview, and he's using movies, books, merchandise, and more to help grow his digital media startup.

"Not enough people are interested in franchise-building on [digital media] platforms," Fishman said.

Fishman and cofounder Darren Lachtman launched Brat last summer with the goal of making teen-focused scripted shows that paired high-quality production with digital talent. Fishman, who sold his last company to Twitter for around $50 million, has raised $12 million in total to fund the venture.

Brat got its first hit with "Chicken Girls," featuring YouTube stars Annie LeBlanc and Hayden Summerall, about a group of friends who have been "dancing together forever" and are now trying to navigate life, love, and high school. The show's debut episode sits at over 10 million YouTube views, and the second season has racked up between 2 million and 4.5 million views per episode so far.

In the digital media landscape, where a million things are begging for your attention, a piece of hit IP like "Chicken Girls" is especially important for a startup like Brat. In fact, Fishman wants to use "Chicken Girls" (and other shows in the future) as the basis for a franchise, and he's already started. "Chicken Girls" has a movie deal with Lionsgate, a book deal with Skyhorse, and Fishman said he's exploring merchandising and other avenues as well.

brat billboard

Getting in front of people

The basic idea behind making "Chicken Girls" into a franchise is not fundamentally different from making a property like "Star Wars" (or "Hannah Montana") into one. Fishman wants to extend his best pieces of IP so they both serve his existing fans and find him new ones.

But for Fishman, one difference is that the focus is on audience growth more than on the dollars Brat can make short term.

"Most important for us is getting in front of more people in our demographic," Fishman said of the movie and book deals. "That is obviously lucrative for us, but it's an opportunity to get in front of people who are already our fans or could be."

brat chicken girls

So how did these deals come about?

Erik Feig, the co-president of Lionsgate's motion pictures division, first invested as an individual in Brat, but he got interested in "Chicken Girls" specifically when he was talking to his 13-year-old daughter, he told Business Insider.

She hadn't heard of Brat, but when he asked her about Annie LeBlanc (the star of "Chicken Girls"), she responded, "Oh my God, of course I know her!" Feig said his daughter was "immediately hooked."

Feig recused himself from the decision to make a "Chicken Girls" movie at Lionsgate because of his personal investment, but his colleagues were on board. Then the question was what the film would be.

"We referenced movies like 'Grease,' 'Dirty Dancing,' John Hughes," Feig said. "I'd done the whole 'Step Up' series." Feig and Fishman don't want it to feel like just a supersized episode when it comes out later this spring.

That theme of moving beyond what was covered in the show was also present in the book deal, Skyhorse's editorial director Mark Gompertz told Business Insider. "Through the years there have always been tie-ins," he explained. "But I am not a big fan of novelizations. I want a real book."

Skyhorse and Brat came up with the idea of an origin story for the friend group.

"I do love this idea," Gompertz said of that instant nostalgia, even in high school. "When you were high school you are pining for when you were 10. Wouldn't it be fun to see how they first met?"

Skyhorse worked with Brat on the plot points and had someone in-house do the drafting on the novel, which will come out this summer.

brat production

Get partners who can help

In both the movie and book contexts, outside companies were able to help Brat shepherd projects it didn't have the resources to complete on its own.

"This means a company like Skyhorse or Lionsgate will be doing the hard work of getting ["Chicken Girls"] into bookstores or movie theaters," Fishman said. "That's the beauty of the franchise."

And Fishman is already looking ahead to the next franchise.

In April, Brat launched "Total Eclipse," a series with former "Dance Moms" star Kenzie Ziegler. Right after it launched, Fishman said this would be Brat's "next big franchise." The first episode has already cracked 2.3 million views.

SEE ALSO: A founder who sold his last startup for ~$50 million wants to make iconic TV for teens in the YouTube era

Join the conversation about this story »

NOW WATCH: The 3 key words to use on your rΓ©sumΓ© to land the interview

Tinder owner Match Group just got Amazon'd by Facebook (MTCH)

Posted: 01 May 2018 01:12 PM PDT

Match group stock facebook dating app

  • Facebook is adding dating features to its platform, CEO Mark Zuckerberg announced Tuesday.
  • Shares of Match Group, which owns Tinder, tanked after the announcement.
  • "We understand this category better than anyone. Facebook's entry will only be invigorating to all of us," Match responded. 
  • It's not the first time a mega-cap tech company has decimated smaller competitors by entering a new field. Amazon, for instance, has done it to many. 

Match Group, the company that owns Tinder, OkCupid, and Match.com, is tanking after Facebook announced it will launch dating features on its main platform.

Shares of the company plummeted more than 20% immediately following CEO Mark Zuckerberg's comments at Facebook's F8 conference in California on Tuesday afternoon. 

This isn't the first time a tech giant has flaunted its influence in ways that hurt smaller fledgling companies. Amazon's entry into a number of industries — from shipping to groceries to healthcare — has caused headaches for competitors including UPS, Kroger, and Walgreens, who stand to be disrupted.

The new standalone feature will be separate from Facebook's main product, Zuckerberg said. The goal is to help people forge "real long-term relationships, not just hookups," he said, noting that people tell him all the time that they met their partner on Facebook.

We don't know much about the features just yet. What we do know is that opt-in features are going to be in the Facebook app. Users can make a dating profile, which can't be seen by friends, and get suggestions of other people who have opted in and suit your preferences.

Match Group's CEO fired back within hours of the announcement.

"We're surprised at the timing given the amount of personal and sensitive data that comes with this territory," Mandy Ginsberg, chief executive of the company, said in a statement. "We understand this category better than anyone. Facebook's entry will only be invigorating to all of us." 

IAC had a less subtle response. Come on in, the water's warm," Joey Levin, CEO of IAC said in a statement. "Their product could be great for US/Russia relationships."

Investors were clearly more spooked than Match and IAC, but at least one Wall Street analyst isn't convinced Facebook's foray into dating can be as disruptive as Tuesday's stock crash might indicate. 

"We believe Facebook can do dating very well, its social graph is unparalleled and the company is highly adept at creating well-run features," Piper Jaffray analyst Sam Kemp told clients shortly after the announcement. "However, we believe getting users to engage with a dating feature will prove difficult - Facebook historically has not had a dating feature, in part because it inserted a gray-zone use case (dating and hookups) into its public broadcasting social platform."

Shares of InterActive Corp (IAC), which recently spun off Match Group, also fell more than 12% on the news.

Prachi Bhardwaj contributed to this report. 

Follow Business Insider's live coverage from the event here.

SEE ALSO: LIVE: Facebook is launching a dating app, Mark Zuckerberg announces during the company's biggest event of the year

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NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown

Facebook just gave a sneak peak at a big makeover coming to Messenger (FB)

Posted: 01 May 2018 01:01 PM PDT

Facebook F8 2018

  • Facebook Messenger is getting a redesign that simplifies the app.
  • The social media giant is also launching a feature that translates between English and Spanish and vice-versa.

Facebook Messenger is getting a big redesign, making the app less complicated and cluttered.

The revamp streamlines the social media giant's standalone messaging app by ditching a dedicated tab for games and camera and focusing on communication, including new features that translate messages in different languages and bring augmented reality to online shopping.

In an announcement at Facebook's developer's conference F8 on Tuesday, Facebook CEO Mark Zuckerberg he wants to make the experience using the app "clean" and "fast." The slimmed down app looks similar to iMessage, and eliminates some of the buttons and tabs that made the app seem cluttered. 

David Marcus Facebook Messenger F8 2018The company also announced that Messenger will be getting some basic language translating capabilities. Buyers and sellers connected through Facebook's Marketplace will have the option of using Messenger's intelligent bot to translate messages from English to Spanish, and vice-versa. The company eventually plans to expand to other languages.

Additionally, Facebook announced that Messenger is getting a feature that allows companies to show users products in augmented reality before they buy them. The first four companies participating in the closed beta test are ASUS, Kia, Nike, and Sephora.

"In two short years, we’ve seen the Platform go from zero to where we are today, and we still feel like we’re just getting started. Messenger is gaining momentum at scale as we continue to invest in new platform features," David Marcus, VP of Facebook Messenger, said on stage.

SEE ALSO: Facebook wants you to see what you're buying ahead of time with augmented reality

Join the conversation about this story »

NOW WATCH: Jeff Bezos reveals what it's like to build an empire and become the richest man in the world — and why he's willing to spend $1 billion a year to fund the most important mission of his life

Snap is getting crushed after a nightmare quarter (SNAP)

Posted: 01 May 2018 12:55 PM PDT

Snap earnings Q1 2018 stock drop chart

Snap, the parent company of the messaging app Snapchat, lost 17 cents per share on revenue of $230.7 million during the first quarter, the company reported on Tuesday following the close of trading.

The company's revenue missed analyst expectations by 6%, exactly the kind of performance the company did not need. Snap's CFO Drew Vollero provided more gloomy news.  

"We are planning for our Q2 growth rate to decelerate substantially from Q1 levels," Vollero said, "with growth in auction impressions, partially offset by pricing for both Snap Ads and Creative Tools."

In after-hours trading, the stock plummeted as low as 17 percent. Shares closed regular trading down slightly to $14.13. Before Tuesday, shares had fallen 33% since a February high of $21.22.

Here's what analysts had expected from the Venice, CA-based Snap: 

  • A loss of 17 cents per share
  • Revenue of  $243.55 million

For the same quarter last year, Snap reported a loss of 20 cents per share on revenue of $149.65 million. The company has seen three rounds of layoffs just this year. The most recent came in March when Snap layed off 100 employees, mostly from the sales division. 

Some of the improvements the company reported included a net loss $384. 2 million, up 82% from the $2.2 billion net loss reported for the same period a year ago.

Snap's management also said that daily active users grew from 166 million in Q1 2017 to 191 million in Q1 this year, a 15% increase. 

Business Insider will be updating this page frequently to bring the most up-to-date info. 

Click here to refresh the page.

SEE ALSO: Snapchat is testing a rollback to the most controversial part of the app redesign

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NOW WATCH: I quit social media for a month — and it was the best choice I've ever made

LIVE: Apple beats on top and bottom lines, and the stock is soaring (AAPL)

Posted: 01 May 2018 12:50 PM PDT

Tim Cook Happy

  • Apple announced earnings on Tuesday, and both its profit and earnings per share were higher than Wall Street expectations.
  • Earnings per share were up 30%. 
  • Apple also announced a $100 billion share buyback program and raised its dividend by 16%. 
  • The stock spiked in after-hours trading. 

Apple beat on the top and bottom lines for its second fiscal quarter earnings, and the stock was up over 2% in after-hours trading.

Earnings per share were up a whopping 30% from a year ago. 

Apple also declared a new $100 billion stock buyback program, and boosted its dividend to $.73 per share, up 16%. Apple had been expected to expand its capital return program after CFO Luca Maestri said that tax reform meant that the company planned to run its $163 billion cash balance to zero. 

Apple also said that the iPhone X was the best-selling phone "every week" during the quarter, potentially quelling fears that the high-priced flagship model was not selling well. Apple's iPhone average selling price was up 11%. 

Here are the key numbers:

Revenue: $61.1 billion, up 16% year-over-year, versus expectations of $60.86 billion

EPS: $2.73, up 30% year-over-year, versus expectations of $2.60 per share

Gross margin: 38.3%, down 1% year-over-year

iPhone sales: 52.2 million, up 2% year-over-year, versus expectations of 51.9 million

iPhone average selling price: $728, up 11% year-over-year

iPad sales: 9.1 million, up 2% year-over-year

Mac sales: 4.07 million, down 3% year-over-year

Q3 guidance: between $51.5 billion and $53.5 billion

Notes from the call: 

5:15: Get fired up, Cook is excited about an increased dividend and $100B in buybacks. 

5:14: Tim Cook says that Apple is "narrowing the site selection for a new US campus," which means it hasn't been selected.  

5:13: "We generated almost $34 billion in earnings in 6 months and we're very bullish on Apple's future. We have the best pipeline of products and services we've ever had."

5:11: "We believe privacy is a fundamental human right," Tim Cook said. He's spending time on this earnings call talking about Apple's privacy policies. 

5:07: "HomePod is widely recognized for having the best sound quality for its size and class," Tim Cook says. "We're looking forward to adding new features to HomePod."

5:05: "Paid subscriptions passed 270 million, up 30 million in the last 90 days, contributing to the overall increase in services revenue." 

5:03: "Services were up 31% and wearables were up almost 50%," Tim Cook says during his prepared remarks. 

5:00: We're getting started. Tim Cook is giving prepared remarks. 

Here are the charts: 

Screen Shot 2018 05 01 at 4.37.09 PM

Screen Shot 2018 05 01 at 4.36.59 PM

This post will be updated as more information becomes available. Click here to refresh the post. 

 

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A 23-year-old Emirates flight attendant who's been to 74 countries is becoming an Instagram star

Posted: 01 May 2018 12:30 PM PDT

emirates flight attendant instagram star

  • Brigita Jagelaviciute, a 23-year-old Emirates flight attendant, is becoming an Instragram star, documenting her travels on an account that has 60,000 followers.
  • Her posts are heavy on food, selfies, fashion, and landmarks — both natural and man-made — with an eye toward vibrant colors and photogenic lighting.
  • She told The Daily Mail that she's been to 74 countries so far. 


A 23-year-old Emirates flight attendant is becoming an Instragram star, documenting her travels on an account that has 60,000 followers.

Brigita Jagelaviciute's page features scenic photos of destinations around the world. Like many Instagram users, her posts are heavy on food, selfies, fashion, and landmarks — both natural and man-made — with an eye toward vibrant colors and photogenic lighting. The Lithuanian flight attendant told The Daily Mail that she's been to 74 countries so far. 

 

Jagelaviciute told The Daily Mail she was inspired to be a flight attendant after seeing Emirates flight crew at Nice Cote d'Azur International Airport in France several years ago.

"I still remember that moment so clearly and when I saw the crew walking in the airport with their beautiful red hats I was taken aback as I have never seen or heard anything about the airline before," she said.

 

For Jagelaviciute, the ability to avoid a strict routine and meet new people are among her job's highlights, but it can also become lonely and exhausting, she told The Daily Mail.

"The worst part of being a flight attendant is most definitely jet lag. It's hard to even explain what you feel if you have never experienced it," she said. "You have to be capable to quickly adjust to different temperatures, time zones and places and it's not easy. I think even after having worked many years in aviation people still struggle sometimes to fight it."

Still haven't edited the Brasil/Argentina video but I promise it will be up sooner rather than later! Just bare with me guys! Hugs πŸ’—

A post shared by Brigita Jagelaviciute (@imbrigita) on Nov 6, 2017 at 1:30pm PST on

 


But with hardship comes opportunities for self-growth. 

"Some of the most memorable things in my flying career have been when I had dared to step out of my comfort zone," she told The Daily Mail.

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NOW WATCH: The market is about to reach an inflection point — here's how to predict which way it's going to go

Facebook increased its daily active users in Q1, but revenue dipped (FB)

Posted: 01 May 2018 12:18 PM PDT

Facebook's negative publicity in recent months hasn't deterred people from using its platform, judging by the continued growth of the company's user base.

As this chart by Statista shows, Facebook daily active users (DAUs) steadily increased every quarter for the last year, which ha been the case for every quarter since the company went public in 2012.

This time, though, the DAUs increase came in spite of months of scrutiny regarding the way Facebook handles consumer data. The hashtag #DeleteFacebook began trending when the news spread that third-party data analytics company Cambridge Analytica had used data from 87 million profiles to influence voters in the 2016 election, but it seems like most users haven't really acted on the hashtag.

Overall, Facebook reported a favorable first quarter on Wednesday, although this chart from Statista does show that Facebook struggled to convert its user growth into revenue. Revenue dipped below $12 billion and average revenue per user (ARPU) declined slightly.

This dip isn't irregular, though: Facebook saw a similar quarter-over-quarter drop in ARPU last year (-10% for Q1 2017 versus -10.5% for Q1 2018), meaning it could simply be a cyclical trend. The Cambridge Analytica scandal hit towards the end of the quarter in March, so the effects on revenue — which for Facebook is primarily generated from advertising — and ARPU may not show until next quarter's earnings.

Chart of the day

SEE ALSO: How Amazon's decision to spend billions on video is paying off

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Mark Zuckerberg gave an impassioned, Obama-like speech defending Facebook (FB)

Posted: 01 May 2018 12:14 PM PDT

Mark Zuckerberg F8 2018

  • Facebook CEO Mark Zuckerberg used his keynote speech at Facebook's developer conference to throw off the shadow of controversy.
  • He acknowledged Facebook's missteps and repeated what the company is doing to combat bad actors on the social network.
  • But, taking a cue from former President Obama's speeches since he left office, he also forcefully defended the company as a force for good and called on its developers to move forward with a sense of optimism.


On Tuesday, Facebook CEO Mark Zuckerberg kicked off the company's biggest event of the year, its F8 developer conference in San Francisco, by wasting no time addressing the elephant in the room: the Cambridge Analytica scandal.

And his message, delivered in an Obama-esque speech cadence, was clear: despite how Facebook was weaponized to influence the 2016 presidential election and the Brexit vote, he wants the world to know that Facebook is not inherently evil, but a force for good.

That scandal involved how the data of 87 million Facebook users was scraped and used as a psychological weapon to target voters. The scandal resulted in a #deletefacebook movement, calls for Zuckerberg to resign, and saw the CEO hauled in front of Congress for two days of grueling testimony amid threats to regulate.

Zuckerberg passionately defended his company on Tuesday saying, "We’re all here because we are optimistic about the future. We have real challenges to address but we need to keep that sense of optimism."

"We need to take a broader view of our responsibility. It's not enough to just build helpful, powerful tools. We need to make sure they are used for good. And we will," he said.

Mark Zuckerberg Facebook F8 2018

Sound familiar? His talk clearly echoed the talks former President Obama has been giving since he left office and the Trump administration's time began.

For instance, in September, 2017, a day after President Trump delivered a speech on terrorism at the U.N. General Assembly, Obama appeared at an event by the Bill & Melinda Gates Foundation and gave a pep talk.

"Your response has to be to reject cynicism and reject pessimism and push forward, with a certain infectious and relentless optimism," Obama said on stage at the event. "Not blind optimism, not one that ignores the scale and scope of our challenges, but that hard-earned optimism, that's rooted in the stories of very real progress that have occurred throughout human history."

Zuck apparently modeled his keynote after that advice. He documented some of Facebook's do-good moments in the last year, like its part in the #metoo movement and the March For Our Lives event, and helping raise $20 million for victims of hurricane Harvey.

He also outlined again all the ways Facebook plans to combat bad actors and fake news.

Zuckerberg even hinted that he was addressing the so-called "filter bubble," problem at least a little.

That's a term for how Facebook tends to show you only what it thinks you want to see, thereby validating your worldview. He said that for people who routinely share fake news to their friends, Facebook will somehow warn them about the story and then show them more news stories of other viewpoints.

But, as Obama advised in his speech, he kept coming back to this idea of optimism of what Facebook can still become.

"We’re idealistic. We’ve always focused on all the good connecting people can bring and there’s a lot of it," Zuckerberg said.

He then launched into all the new products Facebook is building, using his recent grilling in Congress as a humorous way to tout the new "Watch Party" feature, which lets groups watch a Facebook video together.

"Let's say your friend is testifying in Congress," he said while showing a picture of his Congressional testimony. "You can laugh together, cry together. Some of my friends actually did this! Let's not do that again any time soon."

Zuckerberg Watch Party congress F8 2018

SEE ALSO: Facebook is launching a dating app and a ton of other new features, Mark Zuckerberg announces during the company's biggest event of the year

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A Silicon Valley biotech hub that offers startups $250,000 says venture capitalists are missing out on 3 big breaks

Posted: 01 May 2018 12:04 PM PDT

Memphis Meats

  • Silicon Valley's 33,000-company startup scene is highly competitive.
  • Arvind Gupta is the founder of a fast-growing biotech incubator called IndieBio that funded meat alternative startup Memphis Meats, which is now backed by Bill Gates and Richard Branson.
  • Gupta says most VCs are missing out on the biggest windows of opportunity because of a myopic focus on drug development.

Drugs are sexy. Climate change? Not so much.

As a result, venture capitalists have swarmed upon a handful of startups that tout the benefits of new and often preliminary products, while initiatives with slightly more humble goals like making meat without animals have failed to attract funders' attention.

It's a pattern that Arvind Gupta, the founder of a fast-growing Silicon Valley biotech incubator called IndieBio, aims to avoid. Instead of focusing exclusively on pharmaceuticals, Gupta has his eyes on three major problems that he says startups are uniquely poised to tackle — so long as they make use of what he calls his "secret sauce" for success.

A world that's running out of resources

cowMemphis Meats, the alternative meat startup that Gupta helped fund back before its CEO, Uma Valeti, had graced the cover of Inc. Magazine and attracted the attention of people like Bill Gates and Richard Branson, sells a solution to a much bigger problem than America's beef glut.

Instead of simply selling tasty, healthier, less-wasteful source of protein, Valeti is selling one part of a complex solution to climate change. As the planet gets warmer, we'll have less water, less farmable land, and fewer healthy animals — putting a huge amount of stress on farmers and cattle ranchers who will have to find solutions to feeding a mushrooming population.Memphis Meats wants to help by removing the animal altogether, and creating an alternative to meat that's made using animal cells.

"Unfortunately, the problem with our current venture capitalist model is that these kidns of issues are not addressed," Gupta told Business Insider during a recent visit to IndieBio's headquarters in San Francisco's Civic Center district.

So far, they've tested a chicken prototype, and dozens of other startups like JUST (formerly Hampton Creek) say they're getting into the lab-grown meat space too.

But asking that question, and figuring out what happens to our food supply chain when resources begin to become scarce, is precisely what Memphis Meats has done. And it's precisely what has helped them thrive.

"It's very rare to find someone who gets the 'what if?' but times three," Gupta said.

An area of medicine with fuzzy federal guidance

stem cellsWhen it comes to easily-defineable treatments like drugs, pills, and certain forms of therapy, the US Food and Drug Administration can provide solid development guidance, Gupta said.

Regenerative medicine — essentially a means of healing damaged tissues and organs by creating new ones or reviving dysfunctional ones — doesn't fall into any of those categories. That leaves startups working in the space struggling for helpful benchmarks to work from.

"It's a hugely underserved area," Gupta said.

One of the regenerative medicine startups that IndieBio backed as part of its most recent class is JointechLabs. They're making a device that makes it easier to transfer stem cells from areas of the body where they're abundant to places where they're needed to accelerate the healing process.

A planet that's worth saving before fleeing to Mars

man hiking waterfall washington state nature parkSending humans to Mars is a moonshot idea, Gupta said. It's an awe-inspiring goal, but he's more interested in focusing on the planet we have first.

With that in mind, he's been looking at startups with a focus on bioremediation, the process of using tiny organisms like bacteria and fungi to break down pollutants and clean up the environment. UBA Biologix, which IndieBio funded last year, is one such company. They clean up the brackish industrial wastewater from coal, gold, and platinum mines using microorganisms and have a project operating currently at a large coal mine in South Africa.

Gupta said many companies like UBA wouldn't have been given a chance by traditional venture capitalists because their product doesn't have a traditional pharmaceutical focus. But he sees a potential for these kinds of startups to tackle issues that no one else is addressing. And by doing so, the companies can make a name for themselves and help the world at the same time.

"It's about giving scientists a chance to become entrepreneurs," Gupta said.

SEE ALSO: A Silicon Valley biotech hub that offers startups $250,000 in funding explains the 'secret sauce' to success

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This founder went from scooping ice cream to running a $250 million startup that caters lunch for Salesforce, BuzzFeed, and Fandango — here's how he did it

Posted: 01 May 2018 12:04 PM PDT

zero cater office catering 9

  • ZeroCater, a startup based in San Francisco, takes care of the logistics of office catering for companies including Salesforce, BuzzFeed, and Fandango.
  • Before he became ZeroCater's CEO and founder, Arram Sabeti sold his car and moved to San Francisco with the single goal of starting a company.
  • A job as an office manager showed Sabeti that catering is the most stressful part of office operations, which sparked the idea for ZeroCater.
  • The company just announced it's raised $12 million in a Series B round of funding and is eyeing a national expansion in 2018.

 

ZeroCater, a startup based in San Francisco, makes lunch magically appear at startups and corporate campuses from Los Angeles to New York. It takes care of the logistics of office catering by being the middleman between customers and its network of over 500 restaurants.

Before founder Arram Sabeti led ZeroCater to over $250 million sales in less than 10 years (with only $5.6 million in capital before the latest round), he was a student at a community college who was obsessed with the idea of becoming an entrepreneur.

At age 21, Sabeti sold his car, hitched a ride from Orange County to the San Francisco Bay Area, and got a job scooping ice cream at Ben & Jerry's with the single goal of starting a company.

zero cater office catering startup 4907

He was soon hired as the fifth employee at Justin.tv, the life-streaming service that later grew into Twitch. At Justin.tv, he oversaw office operations and ordered lunch for the team. But getting food delivered for "the most picky" eaters turned out to be the most stressful part of the gig, Sabeti said.

Some days, the delivery came late. The order was wrong. Or the food just wasn't that good. Sabeti maintained a list of restaurants with order dates in an Excel spreadsheet.

When his boss mentioned to him that a friend at another company wanted to see his restaurant list, Sabeti met with the office manager and learned that ordering lunch was stressful for her, too. He offered to take the logistics of office catering off her hands, and she accepted gratefully.

Sabeti started asking for introductions to other office managers and launched a side hustle ordering food for their companies. He discovered that catering was a common pain point.

After two years of working at Justin.tv, Sabeti gave his notice and launched ZeroCater. The mission was simple and non-technical: "Make it easy for companies to feed their people."

"You can just tell us, for example: We have 74 people, two vegetarians, and one vegan, and want lunch every Monday, Wednesday, and Friday. We create custom orders across a curated list of restaurants, food trucks, and caterers. Awesome foods just shows up and you never have to think about it again," Sabeti wrote in a 2013 blog post published on TechCrunch.

ZeroCater generated revenue on day one. The company charges a small service fee to the customer and takes a percentage of the order from the food provider. After the company raised $1.5 million through Y Combinator in 2011, Sabeti said the company spent capital frugally.

He paid rent on space in a co-working office and spent many nights on a camping cot there.

zero cater office catering 7

By 2015, ZeroCater was feeding "thousands" of companies and reached $100 million in sales ,according to Sabeti.

Today, the company has passed a quarter billion in sales to date and reportedly has served "millions of meals" to employees of Salesforce, BuzzFeed, Fandango, Indeed, and Venmo. The San Francisco Bay Area is the largest market, though ZeroCater also serves companies in New York, Los Angeles, Chicago, Austin, and Washington, DC, with more major cities in the pipeline in 2018.

On Tuesday, ZeroCater dropped that it's raised $12 million in a Series B round of funding led by Cleveland Avenue LLC, with participation from Romulus Capital and Struck Capital.

Sabeti describes his new goal as providing "every calorie in the building."

Last summer, ZeroCater rolled out a snacks offering — curating and delivering office snacks and beverages to companies and even setting up refrigerators and shelving on request.

SEE ALSO: A tech company is giving each employee $1,500 to spend on experiences — and it's a millennial's dream perk

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Wall Street's betting Spotify can turn the rest of the world Swedish (SPOT, AAPL)

Posted: 01 May 2018 11:59 AM PDT

Co-Founder/CEO of Spotify Daniel Ek attends the 2018 Breakthrough Prize at NASA Ames Research Center on December 3, 2017 in Mountain View, California.

  • The bull case for Spotify is built on the notion that there's lots of growth ahead for the company.
  • Morgan Stanley's Benjamin Swinburne thinks the evolution of the streaming music market in Sweden bolsters that case.
  • Some 23% of Swedish adults now subscribe to streaming music services, potentially indicating where penetration rates could go in the US and elsewhere, Swinburne argues.


Spotify may be losing lots of money and struggling to turn its millions of users into a source of profits, but some on Wall Street are super bullish on the company and its prospects.

If you ask why, one particular analyst — Morgan Stanley's Benjamin Swinburne — will point at Sweden. Spotify's home country is the place where it first launched its streaming music service, and it's where the company has had its greatest success thus far in convincing consumers to pay for its offering.

"Penetration of paid music streaming in Sweden has more than doubled in the last 5 years," Swinburne said in a research note this week. Noting that 23% of adults in the country are now paying for streaming, he argued that rate represents "a global benchmark."

Even though Sweden is Spotify's home base, it wasn't a natural market for subscription music, Swinburne said. Consumers there had little appetite for paying for music prior to adopting Spotify, he said. But the portion of adults now subscribing to a music service has gone from 0% to nearly a quarter in 10 years, he said.

Here's what that growth rate looks like:

Growth of subscription music penetration in Sweden

Sweden is a leading indicator of for how other countries will adopt subscription music, Swinburne argues. The company's growth will be boosted for years to come as penetration rates in other countries follow Sweden's path.

By contrast, here are the penetration rates in the three biggest music markets in the world and how they've changed over time.

The biggest music market in the United States, but it trails significantly behind Sweden:

Streaming music penetration in the United States

The next biggest is Japan, where paid streaming music has barely started to take off:

Streaming music penetration rates in Japan

And in Germany, the no. 3 market, where adoption rates lie between the US and Japan:

Adoption rate of streaming music in Germany

Spotify may be poised to take advantage of a growing market

Overall, Swinburne estimates that the total number of paid streaming music subscribers will grow from about 180 million users at the end of last year, to about 575 million by the end of 2022.

"We argue the strong value proposition of paid streaming services will drive penetration higher over time," he said.

Spotify is valued at $29 billion, and its potential growth is a key reason why. Streaming music is already accounting for more revenue for the music industry than digital downloads and the sale of CDs combined. But Swinburne and others on Wall Street believe the streaming music business can get much bigger, and Spotify will remain one of the major players in the industry and so benefit from that growth.

Even if that does happen and Spotify's revenue swells, it will have to find a way to bring more of that revenue down to its bottom line. Right now, much of its revenue goes to paying licensing costs to the record labels and music publishing firms, leaving it with large and growing losses.

SEE ALSO: There's one big difference between Spotify's users and those on Google, Apple, and Amazon streaming products — and it's a good sign for Spotify

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Here's every weapon the US Army gives to its soldiers

Posted: 01 May 2018 11:54 AM PDT

M249

It goes without saying that the US Army is continuously testing and adding new weapons to its arsenal.

For example, the Army recently began to replace the M9 and M11 pistols with the M17 and M18, but has only delivered them to soldiers in the 101st Airborne Division at Fort Campbell in Kentucky. Therefore, the pistols are not yet standard issue. 

While the Army continues to stay ahead of the game, it undoubtedly has a multitude of weapons for its soldiers. 

And we compiled a list of all these standard issue weapons operable by individual soldiers below, meaning that we didn't include, for example, the Javelin anti-tank missile system because it takes more than one person to operate, nor did we include nonstandard issue weapons.

Check them out:

SEE ALSO: Here's how the AR-15 became the weapon of choice for America's mass shooters — and why it's so deadly

M1911 pistol

The M1911 is a .45 caliber sidearm that the Army has used since World War I, and has even begun phasing out



M9 pistol

The Army started replacing the M1911 with the 9mm M9 in the mid-1980s.



M11 pistol

The M11 is another 9mm pistol that replaced the M1911, and is itself being replaced by the M17 and M18 pistols. 



See the rest of the story at Business Insider