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"content": "\u003cp>\u003cstrong>By Yoona Ha\u003cbr>\nSan Francisco Public Press\u003c/strong>\u003c/p>\n\u003cfigure id=\"attachment_117935\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003cimg class=\"size-full wp-image-117935\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Twitter-building.jpg\" alt=\"Twitter's IPO on November 7 has some San Franciscans asking whether the tech giant and others like it are sharing any of their success with the neighborhood. (Olivia Hubert-Allen/KQED)\" width=\"640\" height=\"359\">\u003cfigcaption class=\"wp-caption-text\">Twitter's IPO on November 7 has some San Franciscans asking whether the tech giant and others like it are sharing any of their success with the neighborhood. (Olivia Hubert-Allen/KQED)\u003c/figcaption>\u003c/figure>\n\u003cp>Last year, 14 San Francisco technology companies received $1.9 million in tax breaks for setting up shop in the mid-Market Street area. Supporters said it was a \u003ca href=\"http://www.nbcbayarea.com/news/tech/Twitter-Central-Market-Neighborhood-IPO-San-Francisco-Mayor-Ed-Lee-230586501.html\">good investment\u003c/a>, bringing economic development and jobs to an economically depressed strip in the core of the city.\u003c/p>\n\u003cp>The zone is certainly coming back to life, and the companies that benefited now employ more than 2,700 workers. But it is less clear that the deal resulted in entry-level jobs for residents of the hardscrabble neighborhood — one of the goals most sought by skeptics of the tax break.\u003c/p>\n\u003cp>The largest six of the companies promised a list of community benefits that included an effort to identify qualified job seekers in the Tenderloin and mid-Market area. But the agreements are vaguely worded, the companies have been slow to report their progress to the city, and most were unresponsive to direct questions about employment practices.\u003c/p>\n\u003cp>Advocates for neighborhood employment say the community benefit agreements — instituted nine months after the April 2011 approval of the tax breaks — lack teeth. The agreements urge companies to forge “meaningful engagement” with the neighborhood by doing things like exploring community training and hiring initiatives, donating computer equipment to schools, encouraging employee tutoring and appointing community liaisons.\u003ca href=\"http://sfpublicpress.org/\">\u003cimg class=\"size-medium wp-image-117940 alignright\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/SFPubPress-logo-300x115.jpg\" alt=\"SFPubPress-logo\" width=\"300\" height=\"115\">\u003c/a>\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>But the City Administrator’s Office requires compliance with only 80 percent of the memorandums’ provisions. While “binding,” the documents call for a “good-faith effort” by companies to follow through on their community obligations.\u003c/p>\n\u003cp>One provision asks the companies to “partner” with a program that identifies entry-level jobs for local residents. But signatories — many of whom were late in filing quarterly reports to the city this year — are under no obligation to report whether that resulted in any actual jobs.\u003c/p>\n\u003cp>Supervisor John Avalos, a skeptic about the tax breaks, said the loose wording means tech firms got something for nothing. He said their promises to the community in exchange for reduced taxes were “barely worth the paper they're written on.”\u003c/p>\n\u003caside class=\"pullquote alignleft\">'There is this belief that if you support big businesses, then the benefits will trickle down, which doesn’t actually do much for the community.'\u003c/aside>\n\u003cp>Within three months of taking office in January 2011, Mayor Ed Lee worked with the Board of Supervisors to pass a payroll tax exclusion law for technology businesses in the mid-Market and Tenderloin areas. It allows the companies to avoid payroll taxes on new hires for six years. Under the subsequent deal on community benefits, companies with payrolls of more than $1 million get the tax break only if they enter a community benefit agreement with the city.\u003c/p>\n\u003cp>Some stakeholders remain unconvinced that the agreements are sufficient. Mara Blitzer, a longtime neighborhood social services advocate, said that while she appreciated technology companies’ community volunteering efforts, other stipulations, especially local hiring, are more important.\u003c/p>\n\u003cp>“The community really had high hopes for what the agreement was going to do, but I think, frankly, it isn’t the strongest,” said Blitzer, who until this year was a senior project manager at the nonprofit \u003ca href=\"http://www.tndc.org/\">Tenderloin Neighborhood Development Corporation\u003c/a>, and has since taken a government job.\u003c/p>\n\u003cp>The agreements call on companies to use the \u003ca href=\"http://www.workforcedevelopmentsf.org/businessservices/index.php?option=com_content&view=article&id=80&Itemid=85\">First Source Hiring Program\u003c/a>, which was set up in 1998 to funnel “economically disadvantaged” city residents into entry-level jobs. The program is primarily geared toward major city-funded contracts, public works and business activities needing building permits or planning approval. The community benefit agreements ask technology firms to “partner” with First Source.\u003c/p>\n\u003cp>Representatives from some of the biggest tax break recipients — Twitter, Zoosk, 21Tech and Yammer — declined to comment on the status of their agreements. Zendesk, a customer service software firm, and One Kings Lane, a home decor company, did respond to questions. Both said they had not hired any employees through First Source.\u003c/p>\n\u003cp>Raquel Redondiez, a legislative aide to Avalos, said one of the problems is a lack of follow-up by the city. Until this year, she said, First Source had no budget for a dedicated enforcement staff.\u003c/p>\n\u003cp>The Board of Supervisors created the payroll tax exclusion after Twitter indicated it was considering moving its expanded headquarters out of San Francisco. The breaks applied to any business within a tax zone area straddling Market Street from Sixth Street to Van Ness Avenue, including some side streets.\u003c/p>\n\u003cfigure id=\"attachment_117945\" class=\"wp-caption alignleft\" style=\"max-width: 300px\">\u003cimg class=\"size-medium wp-image-117945\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/twitter-IPO-300x168.jpg\" alt=\"A Twitter banner hung outside the New York Stock Exchange when Twitter debuted its stock on November 7. (Andrew Burton/Getty Images)\" width=\"300\" height=\"168\">\u003cfigcaption class=\"wp-caption-text\">A Twitter banner hung outside the New York Stock Exchange when Twitter debuted its stock on November 7. (Andrew Burton/Getty Images) \u003ccite>(Andrew Burton/Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>The idea behind the community benefit agreements was to mitigate gentrification as tech expansion raises rents for neighboring businesses, residents and public amenities.\u003c/p>\n\u003cp>The companies are required to report the status of their agreements quarterly to the City Administrator’s Office. Incomplete provisions must be carried out the following year, said Bill Barnes, the office’s project manager.\u003c/p>\n\u003cp>But Avalos said the community benefit agreements were weak because the city created them after passing the tax exemption. That left little room for negotiation with technology firms.\u003c/p>\n\u003cp>“It could have been stronger if we were building our tax breaks contingent on stronger community benefit agreements,” he said. “If the agreement comes afterward, then obviously it’s not going to be as strong as it could have been.”\u003c/p>\n\u003cp>The requirements should be sharpened, said Dina Hilliard, executive director of the North of Market/Tenderloin Community Benefit District, a nonprofit group providing beautification and safety services.\u003c/p>\n\u003caside class=\"pullquote alignleft\">'Unfortunately, we can’t mandate them to hire locally, because the neighborhood might not have the skilled candidates these companies want.'\u003c/aside>\n\u003cp>“The existing agreements clearly are not utilized in a way that is customized to each company’s strengths,” Hilliard said. “Unfortunately, we can’t mandate them to hire locally, because the neighborhood might not have the skilled candidates these companies want.”\u003c/p>\n\u003cp>For many low-skilled neighborhood residents, the education and experience qualifications for entry-level jobs may be too strict. Some neighborhood job candidates lack regular access to computers, hampering the online application process.\u003c/p>\n\u003cp>\u003cstrong>Few Entry-Level Jobs\u003c/strong>\u003c/p>\n\u003cp>The Central Market and \u003ca href=\"http://www.sfgsa.org/index.aspx?page=5005\">Tenderloin Area Citizens Advisory Committee\u003c/a>, which advises the mayor, Board of Supervisors and the city administrator, agreed that a strict hiring mandate would be impractical, because Zendesk requires highly skilled workers, said company spokeswoman Tiffany Apczynski. She said most office jobs require advanced degrees and years of experience. In any event, First Source would not help with neighborhood hiring, since it is available to all city residents.\u003c/p>\n\u003cp>Instead, Zendesk decided to fulfill its “obligation to the neighborhood” under its agreement by offering two paid marketing internships for clients of local nonprofit groups such as the \u003ca href=\"http://www.vydc.org/\">Vietnamese Youth Development Center\u003c/a>.\u003c/p>\n\u003cp>The company also pledged to work with \u003ca href=\"http://www.workforcedevelopmentsf.org/trainingprograms/index.php?option=com_content&view=article&id=92&Itemid=85\">TechSF\u003c/a>, a citywide workforce training initiative, to host networking events for employment trainees. It has invested $15,000 in community event sponsorships, and says it is on pace to spend about $120,000 in the community this year.\u003c/p>\n\u003cp>One Kings Lane has identified entry-level positions in customer service that could be filled locally, spokeswoman Stephanie Pettinati said.\u003c/p>\n\u003cp>But Avalos sounded frustrated by the paucity of job opportunities for locals. He said he would push for an overhaul of local hiring laws.\u003c/p>\n\u003cp>“As far as we’ve heard, there’s never been any kind of penalty for someone who doesn’t follow the First Source Ordinance,” Avalos said. “There is this belief that if you support big businesses, then the benefits will trickle down, which doesn’t actually do much for the community.”\u003c/p>\n\u003cp>Hilliard questioned whether community benefit agreements were even good ideas in the long run: “I want the city to sit down with the company and come up with a customized plan on how they are going to provide community benefits.”\u003c/p>\n\u003cp>\u003ca href=\"http://www.brightlinedefense.org/\">Brightline Defense Projec\u003c/a>t, a nonprofit organization based in SoMa that promotes environmental, economic and social sustainability in low-income neighborhoods, is pushing for reforms to require more than just “good faith” efforts to make local hires.\u003c/p>\n\u003cp>In 2010, Avalos sponsored one such successful effort. The ordinance mandated that an increasing percentage of city residents be hired for city-funded construction projects.\u003c/p>\n\u003cp>Joshua Arce, Brightline Defense’s executive director, said the city has been “rolling out a red carpet” for technology companies through special tax treatment.\u003c/p>\n\u003cp>Hiring programs, he said, should require “job guarantees and a track record.”\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>\u003ca href=\"http://sfpublicpress.org/news/2013-11/twitter-other-tech-companies-get-sf-tax-breaks-but-show-little-progress-hiring-in-neighborhood\">This article\u003c/a> first appeared in San Francisco Public Press, a KQED News Associate\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>But the City Administrator’s Office requires compliance with only 80 percent of the memorandums’ provisions. While “binding,” the documents call for a “good-faith effort” by companies to follow through on their community obligations.\u003c/p>\n\u003cp>One provision asks the companies to “partner” with a program that identifies entry-level jobs for local residents. But signatories — many of whom were late in filing quarterly reports to the city this year — are under no obligation to report whether that resulted in any actual jobs.\u003c/p>\n\u003cp>Supervisor John Avalos, a skeptic about the tax breaks, said the loose wording means tech firms got something for nothing. He said their promises to the community in exchange for reduced taxes were “barely worth the paper they're written on.”\u003c/p>\n\u003caside class=\"pullquote alignleft\">'There is this belief that if you support big businesses, then the benefits will trickle down, which doesn’t actually do much for the community.'\u003c/aside>\n\u003cp>Within three months of taking office in January 2011, Mayor Ed Lee worked with the Board of Supervisors to pass a payroll tax exclusion law for technology businesses in the mid-Market and Tenderloin areas. It allows the companies to avoid payroll taxes on new hires for six years. Under the subsequent deal on community benefits, companies with payrolls of more than $1 million get the tax break only if they enter a community benefit agreement with the city.\u003c/p>\n\u003cp>Some stakeholders remain unconvinced that the agreements are sufficient. Mara Blitzer, a longtime neighborhood social services advocate, said that while she appreciated technology companies’ community volunteering efforts, other stipulations, especially local hiring, are more important.\u003c/p>\n\u003cp>“The community really had high hopes for what the agreement was going to do, but I think, frankly, it isn’t the strongest,” said Blitzer, who until this year was a senior project manager at the nonprofit \u003ca href=\"http://www.tndc.org/\">Tenderloin Neighborhood Development Corporation\u003c/a>, and has since taken a government job.\u003c/p>\n\u003cp>The agreements call on companies to use the \u003ca href=\"http://www.workforcedevelopmentsf.org/businessservices/index.php?option=com_content&view=article&id=80&Itemid=85\">First Source Hiring Program\u003c/a>, which was set up in 1998 to funnel “economically disadvantaged” city residents into entry-level jobs. The program is primarily geared toward major city-funded contracts, public works and business activities needing building permits or planning approval. The community benefit agreements ask technology firms to “partner” with First Source.\u003c/p>\n\u003cp>Representatives from some of the biggest tax break recipients — Twitter, Zoosk, 21Tech and Yammer — declined to comment on the status of their agreements. Zendesk, a customer service software firm, and One Kings Lane, a home decor company, did respond to questions. Both said they had not hired any employees through First Source.\u003c/p>\n\u003cp>Raquel Redondiez, a legislative aide to Avalos, said one of the problems is a lack of follow-up by the city. Until this year, she said, First Source had no budget for a dedicated enforcement staff.\u003c/p>\n\u003cp>The Board of Supervisors created the payroll tax exclusion after Twitter indicated it was considering moving its expanded headquarters out of San Francisco. The breaks applied to any business within a tax zone area straddling Market Street from Sixth Street to Van Ness Avenue, including some side streets.\u003c/p>\n\u003cfigure id=\"attachment_117945\" class=\"wp-caption alignleft\" style=\"max-width: 300px\">\u003cimg class=\"size-medium wp-image-117945\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/twitter-IPO-300x168.jpg\" alt=\"A Twitter banner hung outside the New York Stock Exchange when Twitter debuted its stock on November 7. (Andrew Burton/Getty Images)\" width=\"300\" height=\"168\">\u003cfigcaption class=\"wp-caption-text\">A Twitter banner hung outside the New York Stock Exchange when Twitter debuted its stock on November 7. (Andrew Burton/Getty Images) \u003ccite>(Andrew Burton/Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>The idea behind the community benefit agreements was to mitigate gentrification as tech expansion raises rents for neighboring businesses, residents and public amenities.\u003c/p>\n\u003cp>The companies are required to report the status of their agreements quarterly to the City Administrator’s Office. Incomplete provisions must be carried out the following year, said Bill Barnes, the office’s project manager.\u003c/p>\n\u003cp>But Avalos said the community benefit agreements were weak because the city created them after passing the tax exemption. That left little room for negotiation with technology firms.\u003c/p>\n\u003cp>“It could have been stronger if we were building our tax breaks contingent on stronger community benefit agreements,” he said. “If the agreement comes afterward, then obviously it’s not going to be as strong as it could have been.”\u003c/p>\n\u003cp>The requirements should be sharpened, said Dina Hilliard, executive director of the North of Market/Tenderloin Community Benefit District, a nonprofit group providing beautification and safety services.\u003c/p>\n\u003caside class=\"pullquote alignleft\">'Unfortunately, we can’t mandate them to hire locally, because the neighborhood might not have the skilled candidates these companies want.'\u003c/aside>\n\u003cp>“The existing agreements clearly are not utilized in a way that is customized to each company’s strengths,” Hilliard said. “Unfortunately, we can’t mandate them to hire locally, because the neighborhood might not have the skilled candidates these companies want.”\u003c/p>\n\u003cp>For many low-skilled neighborhood residents, the education and experience qualifications for entry-level jobs may be too strict. Some neighborhood job candidates lack regular access to computers, hampering the online application process.\u003c/p>\n\u003cp>\u003cstrong>Few Entry-Level Jobs\u003c/strong>\u003c/p>\n\u003cp>The Central Market and \u003ca href=\"http://www.sfgsa.org/index.aspx?page=5005\">Tenderloin Area Citizens Advisory Committee\u003c/a>, which advises the mayor, Board of Supervisors and the city administrator, agreed that a strict hiring mandate would be impractical, because Zendesk requires highly skilled workers, said company spokeswoman Tiffany Apczynski. She said most office jobs require advanced degrees and years of experience. In any event, First Source would not help with neighborhood hiring, since it is available to all city residents.\u003c/p>\n\u003cp>Instead, Zendesk decided to fulfill its “obligation to the neighborhood” under its agreement by offering two paid marketing internships for clients of local nonprofit groups such as the \u003ca href=\"http://www.vydc.org/\">Vietnamese Youth Development Center\u003c/a>.\u003c/p>\n\u003cp>The company also pledged to work with \u003ca href=\"http://www.workforcedevelopmentsf.org/trainingprograms/index.php?option=com_content&view=article&id=92&Itemid=85\">TechSF\u003c/a>, a citywide workforce training initiative, to host networking events for employment trainees. It has invested $15,000 in community event sponsorships, and says it is on pace to spend about $120,000 in the community this year.\u003c/p>\n\u003cp>One Kings Lane has identified entry-level positions in customer service that could be filled locally, spokeswoman Stephanie Pettinati said.\u003c/p>\n\u003cp>But Avalos sounded frustrated by the paucity of job opportunities for locals. He said he would push for an overhaul of local hiring laws.\u003c/p>\n\u003cp>“As far as we’ve heard, there’s never been any kind of penalty for someone who doesn’t follow the First Source Ordinance,” Avalos said. “There is this belief that if you support big businesses, then the benefits will trickle down, which doesn’t actually do much for the community.”\u003c/p>\n\u003cp>Hilliard questioned whether community benefit agreements were even good ideas in the long run: “I want the city to sit down with the company and come up with a customized plan on how they are going to provide community benefits.”\u003c/p>\n\u003cp>\u003ca href=\"http://www.brightlinedefense.org/\">Brightline Defense Projec\u003c/a>t, a nonprofit organization based in SoMa that promotes environmental, economic and social sustainability in low-income neighborhoods, is pushing for reforms to require more than just “good faith” efforts to make local hires.\u003c/p>\n\u003cp>In 2010, Avalos sponsored one such successful effort. The ordinance mandated that an increasing percentage of city residents be hired for city-funded construction projects.\u003c/p>\n\u003cp>Joshua Arce, Brightline Defense’s executive director, said the city has been “rolling out a red carpet” for technology companies through special tax treatment.\u003c/p>\n\u003cp>Hiring programs, he said, should require “job guarantees and a track record.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003ca href=\"http://sfpublicpress.org/news/2013-11/twitter-other-tech-companies-get-sf-tax-breaks-but-show-little-progress-hiring-in-neighborhood\">This article\u003c/a> first appeared in San Francisco Public Press, a KQED News Associate\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cfigure id=\"attachment_103809\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/07/15/103615/84000-family-four-san-francisco/forrent/\" rel=\"attachment wp-att-103809\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103809\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/07/forrent.jpg\" alt=\"(iStock image)\" width=\"640\" height=\"360\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">(iStock image)\u003c/figcaption>\u003c/figure>\n\u003cp>If you want a crowd to turn against you, then just tell people you’re a landlord. In some circles, those who own property and rent to others rank near the top of regional public enemies, alongside tech workers, Dodger fans, and oh, I don’t know, people who kick puppies for fun.\u003c/p>\n\u003cp>But are landlords really to blame for \u003ca href=\"http://www.sfgate.com/realestate/article/Rents-soaring-across-region-4924282.php\" target=\"_blank\">soaring rents\u003c/a>, \u003ca href=\"http://www.sfbos.org/Modules/ShowDocument.aspx?documentid=47040\" target=\"_blank\">increased evictions\u003c/a> and \u003ca href=\"http://www.modernluxury.com/san-francisco/story/how-much-tech-can-one-city-take\" target=\"_blank\">the much-bemoaned changing culture\u003c/a> of the Bay Area?\u003c/p>\n\u003cp>Without a doubt, they’re one of the big players at the table when we talk about increasing rents and evictions. But as a number of “Forum” commenters have pointed out, there are many factors that add to the problem of scarce, expensive housing, including the relatively small slice of land available for development in the inner Bay Area and the increased competition for housing as the regional economy improves.\u003c/p>\n\u003cp>As KQED’s “Priced Out” series continues, we’re hearing a whole spectrum of views on housing prices and evictions. Here’s a brief list of reasons landlords say they’re not responsible for the current rental housing crunch. The quotes below are from KQED’s “Forum” last Friday: \u003ca href=\"http://www.kqed.org/a/forum/R201311080900\" target=\"_blank\">Evictions on the Rise in San Francisco\u003c/a>. You can listen to the show in its entirety by \u003ca href=\"http://www.kqed.org/a/forum/R201311080900\" target=\"_blank\">clicking here\u003c/a>.\u003c/p>\n\u003cp>\u003cstrong>1. Not All Landlords Are Created Equal\u003c/strong>\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>The “Forum” hour featured lots of complaints about big real-estate firms and corporate-style landlords raising rents and evicting tenants. But the Bay Area has plenty of small landlords who have a completely different way of doing business.\u003c/p>\n\u003cp>One property owner, referred to only as “Jeanne” at her request, said she was a “mom-and-pop landlord” running a business “not any different than owning a bakery.” Jeanne’s family has been in San Francisco “for over a hundred years,” and her mother bought a building 40 years ago. “That’s what supported our family. We are not part of the affluent class. Now that I have a family, I cannot afford to move out of the one-bedroom apartment in this building.” Jeanne said her family has developed relationships with their tenants, helping to take care of them as they age.\u003c/p>\n\u003caside class=\"pullquote alignleft\">‘We are not part of the affluent class. Now that I have a family, I cannot afford to move out of my one-bedroom apartment.’\u003c/aside>\n\u003cp>\u003cstrong>2. Landlords Get Screwed, Too\u003c/strong>\u003c/p>\n\u003cp>Chances are that at some point, your landlord has suffered at the hands of bad tenants or life circumstances. Mike in San Francisco called in during the show to share the story of what sounds like a generous landlord who found himself needing money because of health problems:\u003c/p>\n\u003cblockquote>\u003cp>My wife’s uncle had two tenants in a building in the Marina and for 30 plus years he never raised the rent. He was a wonderful landlord. And he got dementia and needed to go into assisted care and the family needed to sell the building and what I don’t understand is — the two tenants who are in there — the longer you stay, you earn basically equity in the building. Because whoever wants to buy that building has to give those two tenants a huge payout in order to get them out of the building or keep them at $300 a month. You know, no matter whether you’re a teacher or whatever your role is in the community, at a certain point there has to be some way to measure the fact that you have been the beneficiary of when you have a great landlord.”\u003c/p>\u003c/blockquote>\n\u003cp>As easy as it is to vilify landlords for evicting tenants so that they can sell a property, some landlords may simply need the money. When you consider that possibility, selling to the highest bidder seems more a logical economic decision and less an act of greed.\u003c/p>\n\u003cp>And let’s not forget that just as all landlords are not created equal, neither are tenants. Jeanne praised many of her tenants but added, “We also have tenants who destroy the property, who harass other tenants, who steal and vandalize, and we can’t get them out.”\u003c/p>\n\u003cp>\u003cstrong>3. The Rules Have Changed for Many Landlords\u003c/strong>\u003c/p>\n\u003cp>The deal has changed for some longtime landlords in cities such as San Francisco, Berkeley and Oakland, which have approved rent control laws over the years. Sara Shortt, executive director of the Housing Rights Committee of San Francisco, a tenants’ group, said on the show that “landlords know what they’ve gotten into when they buy property, and they know what our laws are and they’ve decided to sign up.”\u003c/p>\n\u003cp>But that’s not always the case. As Jeanne and other listeners pointed out — many landlords bought their buildings before rent control was on the books.\u003c/p>\n\u003cp>\u003cstrong>4. Landlords Have Some Decent Ideas\u003c/strong>\u003c/p>\n\u003cp>Throughout \u003ca href=\"http://ww2.kqed.org/news/series/priced-out/\" target=\"_blank\">KQED’s Priced Out\u003c/a> series, many listeners and readers have asked about solutions to the issues of rising rents and evictions, only to be told that under current market conditions, there’s \u003ca href=\"http://www.kqed.org/a/forum/R201310311000\" target=\"_blank\">little hope\u003c/a> things will get better soon.\u003c/p>\n\u003cp>But there are some ideas out there. Janan New, executive director of the San Francisco Apartment Association, said there’s a lot San Francisco could learn from New York:\u003c/p>\n\u003cblockquote>\u003cp>“New York every year does a housing study, and they put out a book of statistics about the market and what rents are, what exists [in terms of] housing that’s available — we should be doing that here. … They have a department of housing and everything is run through there. We’re fragmentized here, where we have several different departments in housing — nobody knows what the other department is doing. …\u003c/p>\n\u003cp>“… The other thing that New York has that’s different than San Francisco is their owner-occupied buildings are exempt from rent control. Our owner-occupied buildings were put under rent control in 1991 and they were exempt prior to that. And it worked a lot better. It allowed for flexibility for mom-and-pop owners to cut deals with their tenants, feed their tenants and not be punished for that.”\u003c/p>\u003c/blockquote>\n\u003caside class=\"pullquote alignleft\">‘We created 13,000 jobs last year, and we put 120 new housing units on the market. I don’t think we can continue this way.’\u003c/aside>\n\u003cp>\u003cstrong>5. It’s Not All Their Fault\u003c/strong>\u003c/p>\n\u003cp>There are lots of causes for the lack of housing, especially affordable housing, in the Bay Area: the economy, the physical landscape and \u003ca href=\"http://articles.latimes.com/2012/aug/12/local/la-me-affordable-housing-20120813\" target=\"_blank\">the loss of redevelopment mone\u003c/a>y that allowed cities to help get more housing built.\u003c/p>\n\u003cp>Janan New of the San Francisco Apartment Association noted there’s a basic imbalance between what’s happening in the city’s labor market and what’s happening in the housing market:\u003c/p>\n\u003cblockquote>\u003cp>“We created basically 13,000 jobs last year” said New, “and we put 120 new housing units on the market. So I don’t think we can continue this way without further cannibalization of the rental housing stock because people want to come here, people are going to continue to come here. And they need a place to live.”\u003c/p>\u003c/blockquote>\n\u003cp>In a rare moment of agreement, both New and Sara Shortt, of the Housing Rights Committee, acknowledged that one must look at the “broader context” of the housing market.\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>Said Shortt:\u003c/p>\n\u003cblockquote>\u003cp>“We also have the hoarding issue… We also have people who have \u003ca href=\"http://en.wikipedia.org/wiki/Pied-%C3%A0-terre\" target=\"_blank\">pied-à-terres\u003c/a> in the city now, it’s their second, maybe third rental unit that they have, or they have it on top of a home ownership unit. We have people who are doing the \u003ca href=\"https://www.airbnb.com/\" target=\"_blank\">Airbnb\u003c/a> thing where they are holding the units off the market and they’re renting them out just as vacation rentals… We’re seeing more and more of those types of things.”\u003c/p>\u003c/blockquote>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cfigure id=\"attachment_103809\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/07/15/103615/84000-family-four-san-francisco/forrent/\" rel=\"attachment wp-att-103809\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103809\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/07/forrent.jpg\" alt=\"(iStock image)\" width=\"640\" height=\"360\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">(iStock image)\u003c/figcaption>\u003c/figure>\n\u003cp>If you want a crowd to turn against you, then just tell people you’re a landlord. In some circles, those who own property and rent to others rank near the top of regional public enemies, alongside tech workers, Dodger fans, and oh, I don’t know, people who kick puppies for fun.\u003c/p>\n\u003cp>But are landlords really to blame for \u003ca href=\"http://www.sfgate.com/realestate/article/Rents-soaring-across-region-4924282.php\" target=\"_blank\">soaring rents\u003c/a>, \u003ca href=\"http://www.sfbos.org/Modules/ShowDocument.aspx?documentid=47040\" target=\"_blank\">increased evictions\u003c/a> and \u003ca href=\"http://www.modernluxury.com/san-francisco/story/how-much-tech-can-one-city-take\" target=\"_blank\">the much-bemoaned changing culture\u003c/a> of the Bay Area?\u003c/p>\n\u003cp>Without a doubt, they’re one of the big players at the table when we talk about increasing rents and evictions. But as a number of “Forum” commenters have pointed out, there are many factors that add to the problem of scarce, expensive housing, including the relatively small slice of land available for development in the inner Bay Area and the increased competition for housing as the regional economy improves.\u003c/p>\n\u003cp>As KQED’s “Priced Out” series continues, we’re hearing a whole spectrum of views on housing prices and evictions. Here’s a brief list of reasons landlords say they’re not responsible for the current rental housing crunch. The quotes below are from KQED’s “Forum” last Friday: \u003ca href=\"http://www.kqed.org/a/forum/R201311080900\" target=\"_blank\">Evictions on the Rise in San Francisco\u003c/a>. You can listen to the show in its entirety by \u003ca href=\"http://www.kqed.org/a/forum/R201311080900\" target=\"_blank\">clicking here\u003c/a>.\u003c/p>\n\u003cp>\u003cstrong>1. Not All Landlords Are Created Equal\u003c/strong>\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The “Forum” hour featured lots of complaints about big real-estate firms and corporate-style landlords raising rents and evicting tenants. But the Bay Area has plenty of small landlords who have a completely different way of doing business.\u003c/p>\n\u003cp>One property owner, referred to only as “Jeanne” at her request, said she was a “mom-and-pop landlord” running a business “not any different than owning a bakery.” Jeanne’s family has been in San Francisco “for over a hundred years,” and her mother bought a building 40 years ago. “That’s what supported our family. We are not part of the affluent class. Now that I have a family, I cannot afford to move out of the one-bedroom apartment in this building.” Jeanne said her family has developed relationships with their tenants, helping to take care of them as they age.\u003c/p>\n\u003caside class=\"pullquote alignleft\">‘We are not part of the affluent class. Now that I have a family, I cannot afford to move out of my one-bedroom apartment.’\u003c/aside>\n\u003cp>\u003cstrong>2. Landlords Get Screwed, Too\u003c/strong>\u003c/p>\n\u003cp>Chances are that at some point, your landlord has suffered at the hands of bad tenants or life circumstances. Mike in San Francisco called in during the show to share the story of what sounds like a generous landlord who found himself needing money because of health problems:\u003c/p>\n\u003cblockquote>\u003cp>My wife’s uncle had two tenants in a building in the Marina and for 30 plus years he never raised the rent. He was a wonderful landlord. And he got dementia and needed to go into assisted care and the family needed to sell the building and what I don’t understand is — the two tenants who are in there — the longer you stay, you earn basically equity in the building. Because whoever wants to buy that building has to give those two tenants a huge payout in order to get them out of the building or keep them at $300 a month. You know, no matter whether you’re a teacher or whatever your role is in the community, at a certain point there has to be some way to measure the fact that you have been the beneficiary of when you have a great landlord.”\u003c/p>\u003c/blockquote>\n\u003cp>As easy as it is to vilify landlords for evicting tenants so that they can sell a property, some landlords may simply need the money. When you consider that possibility, selling to the highest bidder seems more a logical economic decision and less an act of greed.\u003c/p>\n\u003cp>And let’s not forget that just as all landlords are not created equal, neither are tenants. Jeanne praised many of her tenants but added, “We also have tenants who destroy the property, who harass other tenants, who steal and vandalize, and we can’t get them out.”\u003c/p>\n\u003cp>\u003cstrong>3. The Rules Have Changed for Many Landlords\u003c/strong>\u003c/p>\n\u003cp>The deal has changed for some longtime landlords in cities such as San Francisco, Berkeley and Oakland, which have approved rent control laws over the years. Sara Shortt, executive director of the Housing Rights Committee of San Francisco, a tenants’ group, said on the show that “landlords know what they’ve gotten into when they buy property, and they know what our laws are and they’ve decided to sign up.”\u003c/p>\n\u003cp>But that’s not always the case. As Jeanne and other listeners pointed out — many landlords bought their buildings before rent control was on the books.\u003c/p>\n\u003cp>\u003cstrong>4. Landlords Have Some Decent Ideas\u003c/strong>\u003c/p>\n\u003cp>Throughout \u003ca href=\"http://ww2.kqed.org/news/series/priced-out/\" target=\"_blank\">KQED’s Priced Out\u003c/a> series, many listeners and readers have asked about solutions to the issues of rising rents and evictions, only to be told that under current market conditions, there’s \u003ca href=\"http://www.kqed.org/a/forum/R201310311000\" target=\"_blank\">little hope\u003c/a> things will get better soon.\u003c/p>\n\u003cp>But there are some ideas out there. Janan New, executive director of the San Francisco Apartment Association, said there’s a lot San Francisco could learn from New York:\u003c/p>\n\u003cblockquote>\u003cp>“New York every year does a housing study, and they put out a book of statistics about the market and what rents are, what exists [in terms of] housing that’s available — we should be doing that here. … They have a department of housing and everything is run through there. We’re fragmentized here, where we have several different departments in housing — nobody knows what the other department is doing. …\u003c/p>\n\u003cp>“… The other thing that New York has that’s different than San Francisco is their owner-occupied buildings are exempt from rent control. Our owner-occupied buildings were put under rent control in 1991 and they were exempt prior to that. And it worked a lot better. It allowed for flexibility for mom-and-pop owners to cut deals with their tenants, feed their tenants and not be punished for that.”\u003c/p>\u003c/blockquote>\n\u003caside class=\"pullquote alignleft\">‘We created 13,000 jobs last year, and we put 120 new housing units on the market. I don’t think we can continue this way.’\u003c/aside>\n\u003cp>\u003cstrong>5. It’s Not All Their Fault\u003c/strong>\u003c/p>\n\u003cp>There are lots of causes for the lack of housing, especially affordable housing, in the Bay Area: the economy, the physical landscape and \u003ca href=\"http://articles.latimes.com/2012/aug/12/local/la-me-affordable-housing-20120813\" target=\"_blank\">the loss of redevelopment mone\u003c/a>y that allowed cities to help get more housing built.\u003c/p>\n\u003cp>Janan New of the San Francisco Apartment Association noted there’s a basic imbalance between what’s happening in the city’s labor market and what’s happening in the housing market:\u003c/p>\n\u003cblockquote>\u003cp>“We created basically 13,000 jobs last year” said New, “and we put 120 new housing units on the market. So I don’t think we can continue this way without further cannibalization of the rental housing stock because people want to come here, people are going to continue to come here. And they need a place to live.”\u003c/p>\u003c/blockquote>\n\u003cp>In a rare moment of agreement, both New and Sara Shortt, of the Housing Rights Committee, acknowledged that one must look at the “broader context” of the housing market.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>Said Shortt:\u003c/p>\n\u003cblockquote>\u003cp>“We also have the hoarding issue… We also have people who have \u003ca href=\"http://en.wikipedia.org/wiki/Pied-%C3%A0-terre\" target=\"_blank\">pied-à-terres\u003c/a> in the city now, it’s their second, maybe third rental unit that they have, or they have it on top of a home ownership unit. We have people who are doing the \u003ca href=\"https://www.airbnb.com/\" target=\"_blank\">Airbnb\u003c/a> thing where they are holding the units off the market and they’re renting them out just as vacation rentals… We’re seeing more and more of those types of things.”\u003c/p>\u003c/blockquote>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117670\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Twitter-IPO.jpg\" alt=\"Twitter Goes Public On The New York Stock Exchange\" width=\"640\" height=\"450\">\u003cbr>\nTwitter's IPO launched on the New York Stock Exchange on Thursday. The stock opened at $45 a share, 80 percent above the initial offering price set the night before. The stock \u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE\">held steady\u003c/a> throughout the day, indicating to some market watchers that people felt it was fairly priced. (Andrew Burton/Getty Images)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117671\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Twitter-Protest.jpg\" alt=\"Twitter Protest\" width=\"649\" height=\"450\">\u003cbr>\nBack in San Francisco, a small crowd marked the IPO by protesting corporate tax breaks in front of Twitter headquarters on Market Street. Some see Twitter's arrival in the neighborhood, a move accompanied by tax relief from the city, as part of a tech invasion displacing lower-income residents. (Sara Bloomberg/KQED)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117673\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Lopez-Memorial.jpg\" alt=\"Lopez Memorial\" width=\"640\" height=\"449\">\u003cbr>\nSanta Rosa residents have held \u003ca href=\"http://ww2.kqed.org/news/2013/11/05/andy-lopez-protests-continue-with-appeal-to-district-attorney\">march after march\u003c/a> in the two weeks since a Sonoma County sheriff’s deputy shot and killed eighth-grader Andy Lopez. One theme that’s emerged during the protests is what many say is a deep gulf between Sonoma County’s Latino residents and the rest of the community. (Rachel Dornhelm/KQED)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117674\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/AndyLopez.jpg\" alt=\"AndyLopez\" width=\"640\" height=\"449\">\u003cbr>\nAt the field where Lopez died, residents have built a giant Day of the Dead altar draped in white. Some neighbors hope the \u003ca href=\"http://ww2.kqed.org/news/2013/11/07/117505/\">tragedy will bring more services\u003c/a>, including playgrounds for neighborhood kids, into the city's west side, where many of its Latino residents live. (Rachel Dornhelm/KQED)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117675\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/election.jpg\" alt=\"election\" width=\"640\" height=\"450\">\u003cbr>\nVoter turnout was low for Tuesday's off-year election, but some important measures were decided in San Francscio. Voters rejected \u003ca href=\"http://ww2.kqed.org/news/2013/11/06/election-2013-sf-waterfront-development-measures-lose\">Propositions B and C\u003c/a>, proposals that would have allowed a waterfront development to move forward. (Sara Bloomberg/KQED)\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117676\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/calaveras.jpg\" alt=\"calaveras\" width=\"640\" height=\"450\">\u003cbr>\nTraditional sugar skulls and candles, along with other goods such as T-shirts and figurines, were sold near 24th and Mission streets in San Francisco. The city celebrated Dia de Los Muertos with a parade down 24th Street and beautiful altars built in Garfield Square. (Sara Bloomberg/KQED)\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117672\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/alter.jpg\" alt=\"Dia de los Muertos, Nov. 2, 2013 in San Francisco, Calif.\" width=\"639\" height=\"450\">\u003cbr>\nFor Dia de Los Muertos, San Francisco residents built elaborate altars in Garfield Square celebrating their loved ones and the things they enjoyed. Hundreds of people visited the altars, many holding candles, in an event that was both somber and celebratory. (Sara Bloomberg / KQED)\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117670\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Twitter-IPO.jpg\" alt=\"Twitter Goes Public On The New York Stock Exchange\" width=\"640\" height=\"450\">\u003cbr>\nTwitter's IPO launched on the New York Stock Exchange on Thursday. The stock opened at $45 a share, 80 percent above the initial offering price set the night before. The stock \u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE\">held steady\u003c/a> throughout the day, indicating to some market watchers that people felt it was fairly priced. (Andrew Burton/Getty Images)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117671\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Twitter-Protest.jpg\" alt=\"Twitter Protest\" width=\"649\" height=\"450\">\u003cbr>\nBack in San Francisco, a small crowd marked the IPO by protesting corporate tax breaks in front of Twitter headquarters on Market Street. Some see Twitter's arrival in the neighborhood, a move accompanied by tax relief from the city, as part of a tech invasion displacing lower-income residents. (Sara Bloomberg/KQED)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117673\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Lopez-Memorial.jpg\" alt=\"Lopez Memorial\" width=\"640\" height=\"449\">\u003cbr>\nSanta Rosa residents have held \u003ca href=\"http://ww2.kqed.org/news/2013/11/05/andy-lopez-protests-continue-with-appeal-to-district-attorney\">march after march\u003c/a> in the two weeks since a Sonoma County sheriff’s deputy shot and killed eighth-grader Andy Lopez. One theme that’s emerged during the protests is what many say is a deep gulf between Sonoma County’s Latino residents and the rest of the community. (Rachel Dornhelm/KQED)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117674\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/AndyLopez.jpg\" alt=\"AndyLopez\" width=\"640\" height=\"449\">\u003cbr>\nAt the field where Lopez died, residents have built a giant Day of the Dead altar draped in white. Some neighbors hope the \u003ca href=\"http://ww2.kqed.org/news/2013/11/07/117505/\">tragedy will bring more services\u003c/a>, including playgrounds for neighborhood kids, into the city's west side, where many of its Latino residents live. (Rachel Dornhelm/KQED)\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-117675\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/election.jpg\" alt=\"election\" width=\"640\" height=\"450\">\u003cbr>\nVoter turnout was low for Tuesday's off-year election, but some important measures were decided in San Francscio. Voters rejected \u003ca href=\"http://ww2.kqed.org/news/2013/11/06/election-2013-sf-waterfront-development-measures-lose\">Propositions B and C\u003c/a>, proposals that would have allowed a waterfront development to move forward. (Sara Bloomberg/KQED)\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"disqusTitle": "What Your Stake in the Twitter Empire Is Really Worth",
"title": "What Your Stake in the Twitter Empire Is Really Worth",
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"content": "\u003cfigure id=\"attachment_117483\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE/rs7447_187232512-hpf/\" rel=\"attachment wp-att-117483\">\u003cimg src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/RS7447_187232512-hpf.jpg\" alt=\" The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\" width=\"640\" height=\"427\" class=\"size-full wp-image-117483\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\u003c/figcaption>\u003c/figure>\n\u003cp>Not a shock: Twitter's \u003ca href=\"http://finance.yahoo.com/q;_ylt=Ajbu_R.q9wkz35mpnAOaev8nv7gF?s=twtr&uhb=uhb2&type=2button&fr=uh3_finance_web_gs\" target=\"_blank\">shares\u003c/a>, which went public Thursday, are trading down a little today. Shares you might have paid 50 bucks for yesterday are down to 43 dollars and change. That statement is not a suggestion you should buy or sell TWTR or any other security.\u003c/p>\n\u003cp>But if you feel left out of the latest tech IPO gold rush, here's a little bit of fun, called to my attention by KQED's \u003ca href=\"https://twitter.com/aarti411\" target=\"_blank\">Aarti Shahani\u003c/a>, from Time's \u003ca href=\"http://www.twitter.com/chriswilsondc\" target=\"_blank\">Chris Wilson\u003c/a>: \u003ca href=\"http://newsfeed.time.com/2013/11/07/interactive-this-is-how-much-money-twitter-owes-you/\" target=\"_blank\">This Is How Much Money Twitter Owes You\u003c/a>.\u003c/p>\n\u003cp>Wilson and Time put together a little calculator that crunches the following variables for Twitter account holders: How long you've had your account, how many tweets you've sent out into the Twittersphere, and the putative value of those tweets based on how many messages the service says it delivers every day and the company's current \u003ca href=\"http://www.investopedia.com/terms/m/marketcapitalization.asp\">market capitalization\u003c/a>. \u003c/p>\n\u003cp>Time's calculator is really kind of cool: Just put in your account name and it spits out your contribution to Twitter's current value. For \u003ca href=\"https://twitter.com/danbrekke\" target=\"_blank\">me\u003c/a>, it's $38. That compares to $5.1 million for President Obama's account and nearly $21 million for Justin Bieber's. \u003c/p>\n\u003cp>I'll use my account \"value\" to buy the pizza and beer. I'll let those guys pick up the tip. \u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Sorry to be redundant, but check it out: Time's \u003ca href=\"http://newsfeed.time.com/2013/11/07/interactive-this-is-how-much-money-twitter-owes-you/\" target=\"_blank\">This Is How Much Money Twitter Owes You\u003c/a>.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cfigure id=\"attachment_117483\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE/rs7447_187232512-hpf/\" rel=\"attachment wp-att-117483\">\u003cimg src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/RS7447_187232512-hpf.jpg\" alt=\" The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\" width=\"640\" height=\"427\" class=\"size-full wp-image-117483\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\u003c/figcaption>\u003c/figure>\n\u003cp>Not a shock: Twitter's \u003ca href=\"http://finance.yahoo.com/q;_ylt=Ajbu_R.q9wkz35mpnAOaev8nv7gF?s=twtr&uhb=uhb2&type=2button&fr=uh3_finance_web_gs\" target=\"_blank\">shares\u003c/a>, which went public Thursday, are trading down a little today. Shares you might have paid 50 bucks for yesterday are down to 43 dollars and change. That statement is not a suggestion you should buy or sell TWTR or any other security.\u003c/p>\n\u003cp>But if you feel left out of the latest tech IPO gold rush, here's a little bit of fun, called to my attention by KQED's \u003ca href=\"https://twitter.com/aarti411\" target=\"_blank\">Aarti Shahani\u003c/a>, from Time's \u003ca href=\"http://www.twitter.com/chriswilsondc\" target=\"_blank\">Chris Wilson\u003c/a>: \u003ca href=\"http://newsfeed.time.com/2013/11/07/interactive-this-is-how-much-money-twitter-owes-you/\" target=\"_blank\">This Is How Much Money Twitter Owes You\u003c/a>.\u003c/p>\n\u003cp>Wilson and Time put together a little calculator that crunches the following variables for Twitter account holders: How long you've had your account, how many tweets you've sent out into the Twittersphere, and the putative value of those tweets based on how many messages the service says it delivers every day and the company's current \u003ca href=\"http://www.investopedia.com/terms/m/marketcapitalization.asp\">market capitalization\u003c/a>. \u003c/p>\n\u003cp>Time's calculator is really kind of cool: Just put in your account name and it spits out your contribution to Twitter's current value. For \u003ca href=\"https://twitter.com/danbrekke\" target=\"_blank\">me\u003c/a>, it's $38. That compares to $5.1 million for President Obama's account and nearly $21 million for Justin Bieber's. \u003c/p>\n\u003cp>I'll use my account \"value\" to buy the pizza and beer. I'll let those guys pick up the tip. \u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Sorry to be redundant, but check it out: Time's \u003ca href=\"http://newsfeed.time.com/2013/11/07/interactive-this-is-how-much-money-twitter-owes-you/\" target=\"_blank\">This Is How Much Money Twitter Owes You\u003c/a>.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "San Diego Cops Roll Out Facial ID System -- and Stir Privacy Concerns",
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"content": "\u003cp>\u003cstrong>By Ali Winston\u003cbr>\nThe Center for Investigative Reporting\u003c/strong>\u003c/p>\n\u003cfigure id=\"attachment_117412\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003cimg class=\"size-full wp-image-117412\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/CIR-face.jpg\" alt=\"Officer Rob Halverson, with the Chula Vista Police Department in California, uses a Samsung Galaxy tablet to identify a woman as part of a pilot program in San Diego County, testing facial recognition software. (Roque Hernandez/Univision)\" width=\"640\" height=\"360\">\u003cfigcaption class=\"wp-caption-text\">Officer Rob Halverson, with the Chula Vista Police Department, uses a Samsung Galaxy tablet to identify a woman as part of a pilot program in San Diego County, testing facial recognition software. (Roque Hernandez/Univision)\u003c/figcaption>\u003c/figure>\n\u003cp>On a residential street in San Diego County, Chula Vista police had just arrested a young woman, still in her pajamas, for possession of narcotics. Before taking her away, Officer Rob Halverson paused in the front yard, held a Samsung Galaxy tablet up to the woman’s face and snapped a photo.\u003c/p>\n\u003cp>Halverson fiddled with the tablet with his index finger a few times, and – without needing to ask the woman’s name or check her identification – her mug shot from a previous arrest, address, criminal history and other personal information appeared on the screen.\u003c/p>\n\u003cp>Halverson had run the woman's photograph through the \u003ca href=\"http://www.scribd.com/collections/4379389/San-Diego-Tactical-Identification-System\" target=\"_blank\">Tactical Identification System\u003c/a>, a new mobile facial recognition technology now in the hands of San Diego-area law enforcement. In an instant, the system matches images taken in the field with databases of about 348,000 San Diego County arrestees. The system itself has nearly 1.4 million booking photos because many people have multiple mug shots on record.\u003c/p>\n\u003cp>The little-known program could become the largest expansion of facial recognition technology by U.S. law enforcement. Amid an international debate over collecting huge amounts of data on the public and sharing the information, the pilot program is putting that metadata to use in the field in real time.\u003c/p>\n\u003caside class=\"pullquote alignleft\">'What we're seeing now is much more surveillance-oriented, and it's in the guise of preventative policing.'\u003c/aside>\n\u003cp>The use of this technology was rolled out without any public hearings or notice. The secrecy of the program has alarmed privacy experts and raised questions about whether San Diego is the leading edge of an alarming future – one in which few people escape cataloging in a government database.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Twenty-five local, state and federal law enforcement agencies — including U.S. Immigration and Customs Enforcement, the Border Patrol, the San Diego County Sheriff's Department and San Diego State University police — participate in the system. The project is coordinated by the San Diego Association of Governments and relies on a vast data-sharing program called the Automated Regional Justice Information System, or ARJIS.\u003c/p>\n\u003cp>For some, the use of biometric technology by police represents a radical milestone in the militarization of American law enforcement.\u003c/p>\n\u003cp>For years, technology that was developed on the battlefield has been migrating into domestic law enforcement. Since 9/11, America's wars in Afghanistan and Iraq have sped up that transfer. Facial recognition technology, which has been widely used by the military, is the next frontier.\u003c/p>\n\u003cp>“What we're seeing now is much more surveillance-oriented, and it's in the guise of preventative policing,” said Kevin Keenan, former executive director of the American Civil Liberties Union of San Diego & Imperial Counties. “It's really this aspiration of prevention and social control through the monitoring of everyone's every action and storage in perpetuity.”\u003c/p>\n\u003cp>\u003cstrong>Is this practice legal?\u003c/strong>\u003c/p>\n\u003cp>The legality of law enforcement using facial recognition technology has not been tested in the courts. But a Privacy Impact Assessment, which the Automated Regional Justice Information System helped write, claims that photos of everyday people can be taken during \"traditional police-civilian encounters.\"\u003c/p>\n\u003cp>San Diego-area law enforcement agencies have used the facial recognition system since the beginning of this year, when 133 Galaxy tablets and smartphones were distributed to 25 law enforcement agencies around the region, according to documents obtained through a public records request by the \u003ca href=\"https://www.eff.org/\">Electronic Frontier Foundation\u003c/a>, a San Francisco nonprofit that studies surveillance and privacy issues.\u003c/p>\n\u003cp>Compared with the number of arrests throughout the San Diego region, which has about 3.2 million residents, the system is rolling out with relatively modest numbers. In the first 10 months of 2013, officers ran 5,629 queries through the database.\u003c/p>\n\u003cp>Officials with the sheriff’s department and San Diego Association of Governments declined requests for comment.\u003c/p>\n\u003cp>Law enforcement officials said the pilot program is a valuable tool to help them identify people who refuse to give their names or use fake identification. Immigration officials said they have used the system to help them when they encounter immigrants who don’t have authorization to be in the U.S.\u003c/p>\n\u003cp>“Photographs are neutral – you can't say it's racist when a camera is taking a neutral picture of someone,” said Halverson, the Chula Vista officer. “It’s hitting on certain points of contact. It's doing a neutral analysis of a person.”\u003c/p>\n\u003cp>The software works by capturing a freeze frame of a live video feed, which then focuses on the face and uses the distance between the eyes as a baseline. An algorithm then analyzes unique textures and patterns on the face, cross-referencing the freeze frame at the rate of a million comparisons per second against the police mug-shot database that also has been processed by the software.\u003c/p>\n\u003caside class=\"pullquote alignleft\"> 'Photographs are neutral – you can't say it's racist when a camera is taking a neutral picture of someone.'\u003c/aside>\n\u003cp>Law enforcement officials said the facial recognition software has built-in privacy safeguards. After an image taken in the field is run through the system, it is discarded by the central database, they said. They say it does not create a database of photos of people who are stopped by police and questioned.\u003c/p>\n\u003cp>However, during field tests with Chula Vista police, images taken by field officers were stored within individual tablets. It’s up to officers to delete those photos on their own.\u003c/p>\n\u003cp>\u003cstrong>This technology is not infallible\u003c/strong>\u003c/p>\n\u003cp>Officers who have used the system rave about its precision in identifying people. But facial recognition technology remains imperfect. Documents obtained by the Electronic Privacy Information Center, a Washington, D.C., nonprofit, show that the FBI’s facial recognition program could fail to identify the right person in 1 out of 5 encounters – potentially ensnaring innocent people in investigations.\u003c/p>\n\u003cp>Development of the San Diego program goes as far back as 2007, according to documents obtained by the Electronic Frontier Foundation. That’s when the federal government’s National Institute of Justice awarded a $418,000 information-led policing grant to ARJIS.\u003c/p>\n\u003cp>In 2012, the San Diego Association of Governments selected \u003ca href=\"http://www.facefirst.com/\">FaceFirst LLC\u003c/a>, a privately held facial recognition firm in Camarillo, as the technology vendor. A $475,000 Department of Homeland Security grant covered the cost of purchasing FaceFirst's license and the hardware required to roll out the system.\u003c/p>\n\u003cp>Founded in 2007, FaceFirst is a spinoff of military contractor Airborne Technologies and is backed by the $18 billion private equity firm Kayne Anderson Capital Advisors. FaceFirst’s main product is facial recognition software that, according to CEO Joe Rosenkrantz, has the capability to “identify everyone in a football stadium in five seconds.”\u003c/p>\n\u003cp>In 2009, Air Force Gen. Victor Renuart, the Pentagon's homeland security commander, advocated for the increased use of biometrics within the U.S. Among domestic law enforcement, the Maricopa County Sheriff’s Office in Arizona and the Pinellas County Sheriff's Office in Florida have devoted considerable time and resources to developing biometric technology.\u003c/p>\n\u003cp>Jennifer Lynch, a senior staff attorney at the Electronic Frontier Foundation, expressed alarm at the normalization of military-grade technology in daily police activity. She said she believes the San Diego regional government’s lack of transparency around the facial recognition program is designed to minimize opposition and public debate.\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>“It becomes accepted and is much harder to push back when an agency has purchased 150 devices and deployed them in the field,\" Lynch said.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cstrong>By Ali Winston\u003cbr>\nThe Center for Investigative Reporting\u003c/strong>\u003c/p>\n\u003cfigure id=\"attachment_117412\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003cimg class=\"size-full wp-image-117412\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/CIR-face.jpg\" alt=\"Officer Rob Halverson, with the Chula Vista Police Department in California, uses a Samsung Galaxy tablet to identify a woman as part of a pilot program in San Diego County, testing facial recognition software. (Roque Hernandez/Univision)\" width=\"640\" height=\"360\">\u003cfigcaption class=\"wp-caption-text\">Officer Rob Halverson, with the Chula Vista Police Department, uses a Samsung Galaxy tablet to identify a woman as part of a pilot program in San Diego County, testing facial recognition software. (Roque Hernandez/Univision)\u003c/figcaption>\u003c/figure>\n\u003cp>On a residential street in San Diego County, Chula Vista police had just arrested a young woman, still in her pajamas, for possession of narcotics. Before taking her away, Officer Rob Halverson paused in the front yard, held a Samsung Galaxy tablet up to the woman’s face and snapped a photo.\u003c/p>\n\u003cp>Halverson fiddled with the tablet with his index finger a few times, and – without needing to ask the woman’s name or check her identification – her mug shot from a previous arrest, address, criminal history and other personal information appeared on the screen.\u003c/p>\n\u003cp>Halverson had run the woman's photograph through the \u003ca href=\"http://www.scribd.com/collections/4379389/San-Diego-Tactical-Identification-System\" target=\"_blank\">Tactical Identification System\u003c/a>, a new mobile facial recognition technology now in the hands of San Diego-area law enforcement. In an instant, the system matches images taken in the field with databases of about 348,000 San Diego County arrestees. The system itself has nearly 1.4 million booking photos because many people have multiple mug shots on record.\u003c/p>\n\u003cp>The little-known program could become the largest expansion of facial recognition technology by U.S. law enforcement. Amid an international debate over collecting huge amounts of data on the public and sharing the information, the pilot program is putting that metadata to use in the field in real time.\u003c/p>\n\u003caside class=\"pullquote alignleft\">'What we're seeing now is much more surveillance-oriented, and it's in the guise of preventative policing.'\u003c/aside>\n\u003cp>The use of this technology was rolled out without any public hearings or notice. The secrecy of the program has alarmed privacy experts and raised questions about whether San Diego is the leading edge of an alarming future – one in which few people escape cataloging in a government database.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>Twenty-five local, state and federal law enforcement agencies — including U.S. Immigration and Customs Enforcement, the Border Patrol, the San Diego County Sheriff's Department and San Diego State University police — participate in the system. The project is coordinated by the San Diego Association of Governments and relies on a vast data-sharing program called the Automated Regional Justice Information System, or ARJIS.\u003c/p>\n\u003cp>For some, the use of biometric technology by police represents a radical milestone in the militarization of American law enforcement.\u003c/p>\n\u003cp>For years, technology that was developed on the battlefield has been migrating into domestic law enforcement. Since 9/11, America's wars in Afghanistan and Iraq have sped up that transfer. Facial recognition technology, which has been widely used by the military, is the next frontier.\u003c/p>\n\u003cp>“What we're seeing now is much more surveillance-oriented, and it's in the guise of preventative policing,” said Kevin Keenan, former executive director of the American Civil Liberties Union of San Diego & Imperial Counties. “It's really this aspiration of prevention and social control through the monitoring of everyone's every action and storage in perpetuity.”\u003c/p>\n\u003cp>\u003cstrong>Is this practice legal?\u003c/strong>\u003c/p>\n\u003cp>The legality of law enforcement using facial recognition technology has not been tested in the courts. But a Privacy Impact Assessment, which the Automated Regional Justice Information System helped write, claims that photos of everyday people can be taken during \"traditional police-civilian encounters.\"\u003c/p>\n\u003cp>San Diego-area law enforcement agencies have used the facial recognition system since the beginning of this year, when 133 Galaxy tablets and smartphones were distributed to 25 law enforcement agencies around the region, according to documents obtained through a public records request by the \u003ca href=\"https://www.eff.org/\">Electronic Frontier Foundation\u003c/a>, a San Francisco nonprofit that studies surveillance and privacy issues.\u003c/p>\n\u003cp>Compared with the number of arrests throughout the San Diego region, which has about 3.2 million residents, the system is rolling out with relatively modest numbers. In the first 10 months of 2013, officers ran 5,629 queries through the database.\u003c/p>\n\u003cp>Officials with the sheriff’s department and San Diego Association of Governments declined requests for comment.\u003c/p>\n\u003cp>Law enforcement officials said the pilot program is a valuable tool to help them identify people who refuse to give their names or use fake identification. Immigration officials said they have used the system to help them when they encounter immigrants who don’t have authorization to be in the U.S.\u003c/p>\n\u003cp>“Photographs are neutral – you can't say it's racist when a camera is taking a neutral picture of someone,” said Halverson, the Chula Vista officer. “It’s hitting on certain points of contact. It's doing a neutral analysis of a person.”\u003c/p>\n\u003cp>The software works by capturing a freeze frame of a live video feed, which then focuses on the face and uses the distance between the eyes as a baseline. An algorithm then analyzes unique textures and patterns on the face, cross-referencing the freeze frame at the rate of a million comparisons per second against the police mug-shot database that also has been processed by the software.\u003c/p>\n\u003caside class=\"pullquote alignleft\"> 'Photographs are neutral – you can't say it's racist when a camera is taking a neutral picture of someone.'\u003c/aside>\n\u003cp>Law enforcement officials said the facial recognition software has built-in privacy safeguards. After an image taken in the field is run through the system, it is discarded by the central database, they said. They say it does not create a database of photos of people who are stopped by police and questioned.\u003c/p>\n\u003cp>However, during field tests with Chula Vista police, images taken by field officers were stored within individual tablets. It’s up to officers to delete those photos on their own.\u003c/p>\n\u003cp>\u003cstrong>This technology is not infallible\u003c/strong>\u003c/p>\n\u003cp>Officers who have used the system rave about its precision in identifying people. But facial recognition technology remains imperfect. Documents obtained by the Electronic Privacy Information Center, a Washington, D.C., nonprofit, show that the FBI’s facial recognition program could fail to identify the right person in 1 out of 5 encounters – potentially ensnaring innocent people in investigations.\u003c/p>\n\u003cp>Development of the San Diego program goes as far back as 2007, according to documents obtained by the Electronic Frontier Foundation. That’s when the federal government’s National Institute of Justice awarded a $418,000 information-led policing grant to ARJIS.\u003c/p>\n\u003cp>In 2012, the San Diego Association of Governments selected \u003ca href=\"http://www.facefirst.com/\">FaceFirst LLC\u003c/a>, a privately held facial recognition firm in Camarillo, as the technology vendor. A $475,000 Department of Homeland Security grant covered the cost of purchasing FaceFirst's license and the hardware required to roll out the system.\u003c/p>\n\u003cp>Founded in 2007, FaceFirst is a spinoff of military contractor Airborne Technologies and is backed by the $18 billion private equity firm Kayne Anderson Capital Advisors. FaceFirst’s main product is facial recognition software that, according to CEO Joe Rosenkrantz, has the capability to “identify everyone in a football stadium in five seconds.”\u003c/p>\n\u003cp>In 2009, Air Force Gen. 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"disqusTitle": "Twitter Debuts on NYSE, Then Goes Nuts ",
"title": "Twitter Debuts on NYSE, Then Goes Nuts ",
"headTitle": "News Fix | KQED News",
"content": "\u003cfigure id=\"attachment_117483\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE/rs7447_187232512-hpf/\" rel=\"attachment wp-att-117483\">\u003cimg class=\"size-full wp-image-117483\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/RS7447_187232512-hpf.jpg\" alt=\" The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\" width=\"640\" height=\"427\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\u003c/figcaption>\u003c/figure>\n\u003cp>So much for our plan to wait until Twitter's stock falls 50 percent or so before buying. The microblogging company with dreams of becoming a profitable global advertising platform launched its IPO today. The stock opened at $45, about 80 percent above the initial offering price set just last night.\u003c/p>\n\u003cp>Here's coverage from the Wall Street Journal: \u003ca href=\"http://blogs.wsj.com/moneybeat/2013/11/07/live-blogging-twitters-ipo/?mod=yahoo_hs\" target=\"_blank\">Live Blogging Twitter's IPO\u003c/a>.\u003cbr>\n\u003c!--more-->\u003cbr>\nHere's a reminder, \u003ca href=\"http://www.wired.com/business/2013/11/twitter-goes-public/\" target=\"_blank\">via Wired's Ryan Tate\u003c/a>, that despite what I'll call the crazy rise in the stock, Twitter hasn't conquered the world yet:\u003c/p>\n\u003cblockquote>\u003cp>Despite all the froth around Twitter’s IPO, the company isn’t all that big, with a valuation, at the moment, of around $31.5 billion. Rival Facebook clocks in at around $120 billion, while an icon of the last tech boom, Amazon, is worth $163 billion. Google is at $342 billion. Twitter is closer to being an Intuit or Adobe than the next Facebook.\u003c/p>\n\u003cp>Part of that difference is down to the fact that Twitter bleeds cash while Facebook gushes profit. After losing $80 million last year, Twitter posted a net loss of $134 million for the first nine months of this year, according to a company filing with the Securities and Exchange Commission. It has never been profitable. Facebook, in contrast, grew profits for at least three years to $1 billion before it went public.\u003c/p>\u003c/blockquote>\n\u003cp>And The Atlantic points out that even artsy-crafty Etsy has a take on the IPO:\u003c/p>\n\u003cblockquote class=\"twitter-tweet\">\u003cp>The Twitter IPO, in the tender eyes of Etsy \u003ca href=\"http://t.co/ovaCTlC5hC\">http://t.co/ovaCTlC5hC\u003c/a>\u003c/p>\n\u003cp>— TheAtlanticTech (@TheAtlanticTECH) \u003ca href=\"https://twitter.com/TheAtlanticTECH/statuses/398492970673922048\">November 7, 2013\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>Here's the latest Associated Press take on the IPO and the opening of trading:\u003c/p>\n\u003cp>\u003cstrong>Barbara Ortutay\u003cbr>\nAP Technology Writer\u003c/strong>\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>NEW YORK — If Twitter's bankers and executives were hoping for a surge on the day of the stock's public debut, they got it. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price.\u003c/p>\n\u003cp>\"It's gone on pretty flawlessly,\" says JJ Kinahan, chief strategist at TD Ameritrade.\u003c/p>\n\u003cp>The stock is now trading on the New York Stock Exchange under the symbol \"TWTR.\" It's the most highly anticipated initial public stock offering since Facebook debuted last year. More than an hour into trading, the stock is holding steady. This tight range of trading, Kinahan says, indicates that people \"feel like it was pretty fairly priced.\"\u003c/p>\n\u003cp>The opening price values Twitter Inc. at $31 billion, which puts it in in range of KFC and Pizza Hut owner Yum Brands, tractor and tool maker Deere & Co. and slightly below State Street Corp., a financial services holding company.\u003c/p>\n\u003cp>\"It clearly shows that demand exceeds the supply of shares,\" says Wedbush analyst Michael Pachter. \"It's impossible to know what the real value is.\"\u003c/p>\n\u003cp>Twitter's shares jumped as high as $50.09 on Thursday morning and were up $19.14, or 73.6 percent, at $45.14 in midday trading amid a broader market decline. Tech stocks were broadly down as well, with Facebook Inc. sliding $1.02, or 2.1 percent, to $48.10.\u003c/p>\n\u003cp>Earlier in the day, Twitter gave users the opportunity to ring NYSE's opening bell instead of executives. The users included Sir Patrick Stewart, Captain Jean-Luc Picard in \"Star Trek: The Next Generation\"; Vivienne Harr, a 9-year-old girl who ran a lemonade stand for a year to raise money to end child slavery; and Cheryl Fiandaca of the Boston Police Department.\u003c/p>\n\u003cp>Twitter's initial public offering was carefully orchestrated to avoid the glitches and eventual letdown that surrounded Facebook's initial public offering on the Nasdaq 18 months ago. Still, it's the most highly anticipated IPO since its Silicon Valley rival's 2012 debut.\u003c/p>\n\u003cp>\"In hindsight when you look at this you almost think they left a little too much money on the table,\" says Roger Entner of Recon Analytics.\u003c/p>\n\u003cp>What Entner means is that Twitter raised $1.8 billion Wednesday night when it sold 70 million shares at $26 each. Had it priced the stock at $30, for instance, the company would have taken away $2.1 billion. At $35, it would have reaped nearly $2.5 billion.\u003c/p>\n\u003cp>At $26 per share, Twitter was valued at more than $18 billion based on its outstanding stock, options and restricted stock expected to be available after the IPO. That already put it above Macy's and Bed Bath & Beyond. Facebook Inc.'s value, meanwhile, stood at $104 billion at the time of its IPO.\u003c/p>\n\u003cp>Twitter, named after the sound of a chirping bird, got its start 7 years ago, first with Jack Dorsey and then Evan Williams as CEO. Its current chief is Dick Costolo, a former Google executive who once aspired to be a stand-up comedian. On March 21, 2006, Dorsey posted the world's first tweet: \"Just setting up my twttr.\" Noah Glass, who helped create Twitter posted the same words just 10 minutes later.\u003c/p>\n\u003cp>Since then, the social network that lets users send short messages in 140-character bursts has attracted world leaders, religious icons and celebrities, along with CEOs, businesses and a slew of marketers and self-promoters.\u003c/p>\n\u003cp>Tempering expectations was a big theme in the weeks leading up to Twitter's IPO, but that all but flew out the window with the stock's opening surge.\u003c/p>\n\u003cp>\"Twitter now just has to deliver on all this,\" Entner says.\u003c/p>\n\u003cp>The company tried to avoid the trouble that plagued Facebook's high-profile offering. Facebook's public debut was marred by technical glitches on the Nasdaq Stock Exchange. As a result, the Securities and Exchange Commission fined Nasdaq $10 million, the largest ever levied against an exchange. Those problems likely led Twitter to the NYSE.\u003c/p>\n\u003cp>Twitter is also likely hoping for a first-day pop of its shares that eluded Facebook's stock. Facebook's shares closed just 23 cents above their $38 IPO price on their first trading day. They traded below $38 for more than a year.\u003c/p>\n\u003cp>Still, $18 billion is a lofty valuation for Twitter compared with its peers. At its IPO price, Twitter valued at roughly 28 times its projected 2013 revenue —$650 million based on its current growth rate. In comparison, Facebook trades at about 16 times its projected 2013 revenue, according to analyst forecasts from FactSet. Google Inc. meanwhile, is trading at about 7 times its net revenue, the figure Wall Street follows that excludes ad commissions.\u003c/p>\n\u003cp>Research firm Outsell Inc. puts Twitter's fundamental value at about half of the IPO price, says analyst Ken Doctor. That figure is based on factors such as revenue and revenue growth.\u003c/p>\n\u003cp>\"That's not unusual,\" Doctor says. \"Especially for tech companies. You are betting on a big future.\"\u003c/p>\n\u003cp>One of Twitter's biggest challenges as a newly public company will be to generate more revenue outside the U.S. More than three-quarters of Twitter's 232 million users are outside the U.S. But only 26 percent of Twitter's revenue comes from abroad. The company has said that it plans to bring in more international revenue by hiring more sales representatives in countries such as Australia, Brazil and Ireland.\u003c/p>\n\u003cp>The pricing means Twitter raised $1.8 billion in the offering before expenses. Twitter was offering 70 million shares in the IPO, plus an option to buy another 10.5 million. If all shares are sold, the IPO will raise $2.09 billion, making it the biggest IPO for an Internet company since Facebook raised $16 billion last year.\u003c/p>\n\u003cp>Twitter, which has never turned a profit in 7 years of existence, had originally set a price range of $17 to $20 per share for the IPO, but that was an obvious lowball designed to temper expectations. It was widely expected that the price range would go higher. Back in August, for example, the company priced some of its employee stock options at $20.62, based on an appraisal by an investment firm and it's unlikely to have lost value since.\u003c/p>\n\u003cp>Twitter's shares enter a frothy market. The Dow Jones industrial average closed at a record high on Wednesday, up 128 points, or 0.8 percent, to 15,746. The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,770, just one point below its own all-time high.\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>\u003cem>AP Technology Writer Michael Liedtke in San Francisco and AP Markets Writer Ken Sweet in New York contributed to this story.\u003c/em>\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cfigure id=\"attachment_117483\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE/rs7447_187232512-hpf/\" rel=\"attachment wp-att-117483\">\u003cimg class=\"size-full wp-image-117483\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/RS7447_187232512-hpf.jpg\" alt=\" The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\" width=\"640\" height=\"427\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The Twitter logo is displayed on a banner outside the New York Stock Exchange. (Photo by Andrew Burton/Getty Images)\u003c/figcaption>\u003c/figure>\n\u003cp>So much for our plan to wait until Twitter's stock falls 50 percent or so before buying. The microblogging company with dreams of becoming a profitable global advertising platform launched its IPO today. The stock opened at $45, about 80 percent above the initial offering price set just last night.\u003c/p>\n\u003cp>Here's coverage from the Wall Street Journal: \u003ca href=\"http://blogs.wsj.com/moneybeat/2013/11/07/live-blogging-twitters-ipo/?mod=yahoo_hs\" target=\"_blank\">Live Blogging Twitter's IPO\u003c/a>.\u003cbr>\n\u003c!--more-->\u003cbr>\nHere's a reminder, \u003ca href=\"http://www.wired.com/business/2013/11/twitter-goes-public/\" target=\"_blank\">via Wired's Ryan Tate\u003c/a>, that despite what I'll call the crazy rise in the stock, Twitter hasn't conquered the world yet:\u003c/p>\n\u003cblockquote>\u003cp>Despite all the froth around Twitter’s IPO, the company isn’t all that big, with a valuation, at the moment, of around $31.5 billion. Rival Facebook clocks in at around $120 billion, while an icon of the last tech boom, Amazon, is worth $163 billion. Google is at $342 billion. Twitter is closer to being an Intuit or Adobe than the next Facebook.\u003c/p>\n\u003cp>Part of that difference is down to the fact that Twitter bleeds cash while Facebook gushes profit. After losing $80 million last year, Twitter posted a net loss of $134 million for the first nine months of this year, according to a company filing with the Securities and Exchange Commission. It has never been profitable. Facebook, in contrast, grew profits for at least three years to $1 billion before it went public.\u003c/p>\u003c/blockquote>\n\u003cp>And The Atlantic points out that even artsy-crafty Etsy has a take on the IPO:\u003c/p>\n\u003cblockquote class=\"twitter-tweet\">\u003cp>The Twitter IPO, in the tender eyes of Etsy \u003ca href=\"http://t.co/ovaCTlC5hC\">http://t.co/ovaCTlC5hC\u003c/a>\u003c/p>\n\u003cp>— TheAtlanticTech (@TheAtlanticTECH) \u003ca href=\"https://twitter.com/TheAtlanticTECH/statuses/398492970673922048\">November 7, 2013\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>Here's the latest Associated Press take on the IPO and the opening of trading:\u003c/p>\n\u003cp>\u003cstrong>Barbara Ortutay\u003cbr>\nAP Technology Writer\u003c/strong>\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>NEW YORK — If Twitter's bankers and executives were hoping for a surge on the day of the stock's public debut, they got it. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price.\u003c/p>\n\u003cp>\"It's gone on pretty flawlessly,\" says JJ Kinahan, chief strategist at TD Ameritrade.\u003c/p>\n\u003cp>The stock is now trading on the New York Stock Exchange under the symbol \"TWTR.\" It's the most highly anticipated initial public stock offering since Facebook debuted last year. More than an hour into trading, the stock is holding steady. This tight range of trading, Kinahan says, indicates that people \"feel like it was pretty fairly priced.\"\u003c/p>\n\u003cp>The opening price values Twitter Inc. at $31 billion, which puts it in in range of KFC and Pizza Hut owner Yum Brands, tractor and tool maker Deere & Co. and slightly below State Street Corp., a financial services holding company.\u003c/p>\n\u003cp>\"It clearly shows that demand exceeds the supply of shares,\" says Wedbush analyst Michael Pachter. \"It's impossible to know what the real value is.\"\u003c/p>\n\u003cp>Twitter's shares jumped as high as $50.09 on Thursday morning and were up $19.14, or 73.6 percent, at $45.14 in midday trading amid a broader market decline. Tech stocks were broadly down as well, with Facebook Inc. sliding $1.02, or 2.1 percent, to $48.10.\u003c/p>\n\u003cp>Earlier in the day, Twitter gave users the opportunity to ring NYSE's opening bell instead of executives. The users included Sir Patrick Stewart, Captain Jean-Luc Picard in \"Star Trek: The Next Generation\"; Vivienne Harr, a 9-year-old girl who ran a lemonade stand for a year to raise money to end child slavery; and Cheryl Fiandaca of the Boston Police Department.\u003c/p>\n\u003cp>Twitter's initial public offering was carefully orchestrated to avoid the glitches and eventual letdown that surrounded Facebook's initial public offering on the Nasdaq 18 months ago. Still, it's the most highly anticipated IPO since its Silicon Valley rival's 2012 debut.\u003c/p>\n\u003cp>\"In hindsight when you look at this you almost think they left a little too much money on the table,\" says Roger Entner of Recon Analytics.\u003c/p>\n\u003cp>What Entner means is that Twitter raised $1.8 billion Wednesday night when it sold 70 million shares at $26 each. Had it priced the stock at $30, for instance, the company would have taken away $2.1 billion. At $35, it would have reaped nearly $2.5 billion.\u003c/p>\n\u003cp>At $26 per share, Twitter was valued at more than $18 billion based on its outstanding stock, options and restricted stock expected to be available after the IPO. That already put it above Macy's and Bed Bath & Beyond. Facebook Inc.'s value, meanwhile, stood at $104 billion at the time of its IPO.\u003c/p>\n\u003cp>Twitter, named after the sound of a chirping bird, got its start 7 years ago, first with Jack Dorsey and then Evan Williams as CEO. Its current chief is Dick Costolo, a former Google executive who once aspired to be a stand-up comedian. On March 21, 2006, Dorsey posted the world's first tweet: \"Just setting up my twttr.\" Noah Glass, who helped create Twitter posted the same words just 10 minutes later.\u003c/p>\n\u003cp>Since then, the social network that lets users send short messages in 140-character bursts has attracted world leaders, religious icons and celebrities, along with CEOs, businesses and a slew of marketers and self-promoters.\u003c/p>\n\u003cp>Tempering expectations was a big theme in the weeks leading up to Twitter's IPO, but that all but flew out the window with the stock's opening surge.\u003c/p>\n\u003cp>\"Twitter now just has to deliver on all this,\" Entner says.\u003c/p>\n\u003cp>The company tried to avoid the trouble that plagued Facebook's high-profile offering. Facebook's public debut was marred by technical glitches on the Nasdaq Stock Exchange. As a result, the Securities and Exchange Commission fined Nasdaq $10 million, the largest ever levied against an exchange. Those problems likely led Twitter to the NYSE.\u003c/p>\n\u003cp>Twitter is also likely hoping for a first-day pop of its shares that eluded Facebook's stock. Facebook's shares closed just 23 cents above their $38 IPO price on their first trading day. They traded below $38 for more than a year.\u003c/p>\n\u003cp>Still, $18 billion is a lofty valuation for Twitter compared with its peers. At its IPO price, Twitter valued at roughly 28 times its projected 2013 revenue —$650 million based on its current growth rate. In comparison, Facebook trades at about 16 times its projected 2013 revenue, according to analyst forecasts from FactSet. Google Inc. meanwhile, is trading at about 7 times its net revenue, the figure Wall Street follows that excludes ad commissions.\u003c/p>\n\u003cp>Research firm Outsell Inc. puts Twitter's fundamental value at about half of the IPO price, says analyst Ken Doctor. That figure is based on factors such as revenue and revenue growth.\u003c/p>\n\u003cp>\"That's not unusual,\" Doctor says. \"Especially for tech companies. You are betting on a big future.\"\u003c/p>\n\u003cp>One of Twitter's biggest challenges as a newly public company will be to generate more revenue outside the U.S. More than three-quarters of Twitter's 232 million users are outside the U.S. But only 26 percent of Twitter's revenue comes from abroad. The company has said that it plans to bring in more international revenue by hiring more sales representatives in countries such as Australia, Brazil and Ireland.\u003c/p>\n\u003cp>The pricing means Twitter raised $1.8 billion in the offering before expenses. Twitter was offering 70 million shares in the IPO, plus an option to buy another 10.5 million. If all shares are sold, the IPO will raise $2.09 billion, making it the biggest IPO for an Internet company since Facebook raised $16 billion last year.\u003c/p>\n\u003cp>Twitter, which has never turned a profit in 7 years of existence, had originally set a price range of $17 to $20 per share for the IPO, but that was an obvious lowball designed to temper expectations. It was widely expected that the price range would go higher. Back in August, for example, the company priced some of its employee stock options at $20.62, based on an appraisal by an investment firm and it's unlikely to have lost value since.\u003c/p>\n\u003cp>Twitter's shares enter a frothy market. The Dow Jones industrial average closed at a record high on Wednesday, up 128 points, or 0.8 percent, to 15,746. The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,770, just one point below its own all-time high.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003cem>AP Technology Writer Michael Liedtke in San Francisco and AP Markets Writer Ken Sweet in New York contributed to this story.\u003c/em>\u003c/p>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "Twitter Sets IPO Price: $26 ",
"title": "Twitter Sets IPO Price: $26 ",
"headTitle": "News Fix | KQED News",
"content": "\u003cfigure id=\"attachment_113735\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/10/03/twitter-unveils-ipo-details-ticker-symbol-will-be-twtr/rs6714_photo-hpf/\" rel=\"attachment wp-att-113735\">\u003cimg class=\"size-full wp-image-113735\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/10/RS6714_photo-hpf.jpg\" alt=\"Twitter headquarters, on Market Street in San Francisco (Olivia Hubert-Allen). \" width=\"640\" height=\"480\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Twitter headquarters, on Market Street in San Francisco. (Olivia Hubert-Allen)\u003c/figcaption>\u003c/figure>\n\u003cp>\u003cstrong>Update, 9 a.m. Thursday:\u003c/strong> \u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE\" target=\"_blank\">Twitter Debuts on NYSE, Then Goes Nuts\u003c/a>\u003c/p>\n\u003cp>\u003cstrong>Original post:\u003c/strong> Twitter — to be known on the New York Stock Exchange as TWTR — just set a price for its initial public offering, scheduled to open trading Thursday morning. The price: 26 bucks. That's way above the original range of $17 to $20 and even higher than the revised (not to say \"jacked up\") range of $23 to $25 announced earlier this week.\u003c/p>\n\u003cp>The company announced the news on its own service, naturally (we think they've cheated on the 140-character limit with the linked disclaimer document, though):\u003c/p>\n\u003cblockquote class=\"twitter-tweet\">\u003cp>We just priced our IPO. \u003ca href=\"http://t.co/NWXaO4Myq0\">pic.twitter.com/NWXaO4Myq0\u003c/a>\u003c/p>\n\u003cp>— Twitter (@twitter) \u003ca href=\"https://twitter.com/twitter/statuses/398235511254298624\">November 6, 2013\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>One line from that disclaimer: \"This Tweet shall not constitute an offer to sell or the solicitation of an offer to buy\" the company's stock.\u003c/p>\n\u003cp>Here's the story from the Associated Press:\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>NEW YORK — Twitter has set a price of $26 for its initial public offering of stock, which means the company's shares can begin trading Thursday on the New York Stock Exchange.\u003c/p>\n\u003cp>The price values Twitter at more than $18 billion based on its outstanding stock, options and restricted stock that'll be available after the IPO.\u003c/p>\n\u003cp>Twitter Inc. had originally set a price range of $17 to $20 per share for its IPO, but analysts expected that to go higher. The company raised the range on Monday to $23 to $25 per share, signaling enthusiastic response from prospective investors.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>The San Francisco-based short messaging service is offering 70 million shares in the IPO, plus an option to buy another 10.5 million. It is set to begin trading Thursday morning under the symbol \"TWTR.\"\u003c/p>\n\n",
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"excerpt": "The offering price values the San Francisco company at $18 billion. Trading begins Thursday.",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cfigure id=\"attachment_113735\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/10/03/twitter-unveils-ipo-details-ticker-symbol-will-be-twtr/rs6714_photo-hpf/\" rel=\"attachment wp-att-113735\">\u003cimg class=\"size-full wp-image-113735\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/10/RS6714_photo-hpf.jpg\" alt=\"Twitter headquarters, on Market Street in San Francisco (Olivia Hubert-Allen). \" width=\"640\" height=\"480\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Twitter headquarters, on Market Street in San Francisco. (Olivia Hubert-Allen)\u003c/figcaption>\u003c/figure>\n\u003cp>\u003cstrong>Update, 9 a.m. Thursday:\u003c/strong> \u003ca href=\"http://ww2.kqed.org/news/2013/11/07/twitter-ipo-stock-debuts-on-NYSE\" target=\"_blank\">Twitter Debuts on NYSE, Then Goes Nuts\u003c/a>\u003c/p>\n\u003cp>\u003cstrong>Original post:\u003c/strong> Twitter — to be known on the New York Stock Exchange as TWTR — just set a price for its initial public offering, scheduled to open trading Thursday morning. The price: 26 bucks. That's way above the original range of $17 to $20 and even higher than the revised (not to say \"jacked up\") range of $23 to $25 announced earlier this week.\u003c/p>\n\u003cp>The company announced the news on its own service, naturally (we think they've cheated on the 140-character limit with the linked disclaimer document, though):\u003c/p>\n\u003cblockquote class=\"twitter-tweet\">\u003cp>We just priced our IPO. \u003ca href=\"http://t.co/NWXaO4Myq0\">pic.twitter.com/NWXaO4Myq0\u003c/a>\u003c/p>\n\u003cp>— Twitter (@twitter) \u003ca href=\"https://twitter.com/twitter/statuses/398235511254298624\">November 6, 2013\u003c/a>\u003c/p>\u003c/blockquote>\n\u003cp>One line from that disclaimer: \"This Tweet shall not constitute an offer to sell or the solicitation of an offer to buy\" the company's stock.\u003c/p>\n\u003cp>Here's the story from the Associated Press:\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>NEW YORK — Twitter has set a price of $26 for its initial public offering of stock, which means the company's shares can begin trading Thursday on the New York Stock Exchange.\u003c/p>\n\u003cp>The price values Twitter at more than $18 billion based on its outstanding stock, options and restricted stock that'll be available after the IPO.\u003c/p>\n\u003cp>Twitter Inc. had originally set a price range of $17 to $20 per share for its IPO, but analysts expected that to go higher. The company raised the range on Monday to $23 to $25 per share, signaling enthusiastic response from prospective investors.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>The San Francisco-based short messaging service is offering 70 million shares in the IPO, plus an option to buy another 10.5 million. It is set to begin trading Thursday morning under the symbol \"TWTR.\"\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cfigure id=\"attachment_116909\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/11/01/historically-black-colleges-gather-to-build-new-partnerships-in-silicon-valley/2803638859_30c8c1d6aa_z/\" rel=\"attachment wp-att-116909\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-116909 \" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/2803638859_30c8c1d6aa_z.jpg\" alt=\"Howard University (NDinDC / Flickr)\" width=\"640\" height=\"373\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Howard University, one of 17 schools that attended an innovation summit in Silicon Valley this week. (NDinDC / Flickr)\u003c/figcaption>\u003c/figure>\n\u003cp>Business is not just about what you know, but who you know. In Silicon Valley, closing a deal is also about who you like and who you trust. Historically black colleges and universities have struggled to build those familiar, trusting relationships with tech firms, but the United Negro College Fund is helping change that. This week officials from 17 schools came to Palo Alto for a four-day \u003ca href=\"http://www.hbcuinnovation.org/\">Innovation Summit\u003c/a> in hopes of laying new foundations for their graduates’ careers.\u003c/p>\n\u003cp>According to UNCF, African-Americans get 21 percent of their science, technology, engineering and math degrees from historically black colleges and universities (better known as HBCUs). These institutions, however, are only 4 percent of the nation’s colleges, and none of them is in California. So it’s easy to see why Berkeley and Stanford alumni have a geographic advantage in getting internships, jobs and startup funding. The summit was the first step in starting conversations that will broaden that advantage to populations that haven’t typically had it.\u003c/p>\n\u003cp>“If you just allow the market to take shape as it would, you’ll tend to go and find people that you’re most familiar with,” said College Fund senior vice president Karl Reid. “What these conversations do is… foster the kind of relationships that are necessary for the HBCU community… to make the connections with these kinds of innovative environments.”\u003c/p>\n\u003cp>It’s hard to say exactly how many African-Americans, Hispanics and other people of color work in Silicon Valley. Some of the largest companies have solidly \u003ca href=\"http://money.cnn.com/2013/03/17/technology/diversity-silicon-valley/index.html?iid=HP_Highlight\">resisted\u003c/a> efforts to get their demographic data. There are a number of black HBCU graduates leading major tech firms, including Symantec’s former CEO \u003ca href=\"http://www.virtualinstruments.com/company/management/john-w-thompson\">John Thompson\u003c/a> (he went to \u003ca href=\"http://www.famu.edu/\">Florida A&M University\u003c/a> in Tallahassee, Fla.) and \u003ca href=\"http://www.ti.com/corp/docs/company/history/art.shtml\">Art George\u003c/a>, a senior VP at Texas Instruments (he attended \u003ca href=\"http://www.subr.edu/\">Southern University\u003c/a> in Baton Rouge, La.). Some executives are reaching out on their own, including Facebook’s COO Sheryl Sandberg. She \u003ca href=\"http://www.theroot.com/buzz/sandberg-launches-lean-program-howard\">launched\u003c/a> her women’s business initiative “Lean In” at Howard University, a school in Washington D.C. often referred to as the “Black Harvard.” HBCU graduates take pride in the collegiate experience they get: a transformational education that instills a connection to history and a duty to serve.\u003c/p>\n\u003cp>\u003c!--more-->“There is not only the intellectual development,” said Reid, “but the sense of who they are and a sense of purpose that comes in. Almost a calling, a belief that they’ve gotta ‘lift as they climb’.”\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>UNCF officials did not suggest outright racism in the lack of African-American high-tech leadership, and they did not attempt to lay blame on anyone for the current state of affairs. Attendees focused on building a new network among themselves for what they called ICE: Innovation, Commercialization and Entrepreneurship. The goal is to help HBCU students (African-American and not) and faculty turn their innovations into businesses. Sessions involved meet-and-greets with tech industry leaders, panels for sharing best practices, a reception at Facebook in Menlo Park, crash courses in how Silicon Valley does business and a visit to Stanford’s \u003ca href=\"http://dschool.stanford.edu/\">d.school\u003c/a>, a design institute that teaches the problem-solving method known as “design thinking.”\u003c/p>\n\u003cp>The summit is part of a larger initiative in the coming years, and if the partnership works as intended, the complexion of the tech sector could start looking a lot more like the nation of consumers it serves. That might also make good business sense, too: African-Americans and Hispanics are prolific users of consumer technology, especially \u003ca href=\"http://pewinternet.org/Commentary/2012/March/Pew-Internet-Social-Networking-full-detail.aspx\">social media\u003c/a>.\u003c/p>\n\u003cp>“The next Google, the next Facebook, the next Twitter lies in the heads of kids and youth that may or may not look like the majority of folks (in Silicon Valley),” said Chad Womack, who leads the College Fund’s Merck Science Initiative. “But that’s okay. Because ultimately we want an inclusive economy and an economy that grows where all boats are lifted, not just one boat or another.”\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Listen to reporter Joshua Johnson’s interview with United Negro College Fund’s senior vice president Karl Reid here:\u003c/p>\n\u003cdiv>\n\u003cdiv class=\"embedly\">\u003ciframe loading=\"lazy\" src=\"https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F118161343&show_artwork=true&maxwidth=900\" frameborder=\"no\" scrolling=\"no\" width=\"640\" height=\"166\">\u003c/iframe>\n\u003cdiv class=\"embedly-clear\">\u003c/div>\n\u003cp>\u003cspan class=\"embedly-powered\" style=\"float: right\">\u003ca title=\"Powered by Embedly\" href=\"http://embed.ly/code?url=https%3A%2F%2Fsoundcloud.com%2Fkqed%2Fhistorically-black-colleges\" target=\"_blank\" rel=\"noopener\">\u003cimg decoding=\"async\" src=\"http://static.embed.ly/images/logos/embedly-powered-small-light.png\" alt=\"Embedly Powered\">\u003c/a>\u003c/span>\u003c/p>\n\u003cdiv class=\"media-attribution\">\u003cspan>via \u003c/span>\u003ca class=\"media-attribution-link\" href=\"http://soundcloud.com\" target=\"_blank\" rel=\"noopener\">SoundCloud\u003c/a>\u003c/div>\n\u003cdiv class=\"embedly-clear\">\u003c/div>\n\u003c/div>\n\u003c/div>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cfigure id=\"attachment_116909\" class=\"wp-caption aligncenter\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/11/01/historically-black-colleges-gather-to-build-new-partnerships-in-silicon-valley/2803638859_30c8c1d6aa_z/\" rel=\"attachment wp-att-116909\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-116909 \" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/2803638859_30c8c1d6aa_z.jpg\" alt=\"Howard University (NDinDC / Flickr)\" width=\"640\" height=\"373\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">Howard University, one of 17 schools that attended an innovation summit in Silicon Valley this week. (NDinDC / Flickr)\u003c/figcaption>\u003c/figure>\n\u003cp>Business is not just about what you know, but who you know. In Silicon Valley, closing a deal is also about who you like and who you trust. Historically black colleges and universities have struggled to build those familiar, trusting relationships with tech firms, but the United Negro College Fund is helping change that. This week officials from 17 schools came to Palo Alto for a four-day \u003ca href=\"http://www.hbcuinnovation.org/\">Innovation Summit\u003c/a> in hopes of laying new foundations for their graduates’ careers.\u003c/p>\n\u003cp>According to UNCF, African-Americans get 21 percent of their science, technology, engineering and math degrees from historically black colleges and universities (better known as HBCUs). These institutions, however, are only 4 percent of the nation’s colleges, and none of them is in California. So it’s easy to see why Berkeley and Stanford alumni have a geographic advantage in getting internships, jobs and startup funding. The summit was the first step in starting conversations that will broaden that advantage to populations that haven’t typically had it.\u003c/p>\n\u003cp>“If you just allow the market to take shape as it would, you’ll tend to go and find people that you’re most familiar with,” said College Fund senior vice president Karl Reid. “What these conversations do is… foster the kind of relationships that are necessary for the HBCU community… to make the connections with these kinds of innovative environments.”\u003c/p>\n\u003cp>It’s hard to say exactly how many African-Americans, Hispanics and other people of color work in Silicon Valley. Some of the largest companies have solidly \u003ca href=\"http://money.cnn.com/2013/03/17/technology/diversity-silicon-valley/index.html?iid=HP_Highlight\">resisted\u003c/a> efforts to get their demographic data. There are a number of black HBCU graduates leading major tech firms, including Symantec’s former CEO \u003ca href=\"http://www.virtualinstruments.com/company/management/john-w-thompson\">John Thompson\u003c/a> (he went to \u003ca href=\"http://www.famu.edu/\">Florida A&M University\u003c/a> in Tallahassee, Fla.) and \u003ca href=\"http://www.ti.com/corp/docs/company/history/art.shtml\">Art George\u003c/a>, a senior VP at Texas Instruments (he attended \u003ca href=\"http://www.subr.edu/\">Southern University\u003c/a> in Baton Rouge, La.). Some executives are reaching out on their own, including Facebook’s COO Sheryl Sandberg. She \u003ca href=\"http://www.theroot.com/buzz/sandberg-launches-lean-program-howard\">launched\u003c/a> her women’s business initiative “Lean In” at Howard University, a school in Washington D.C. often referred to as the “Black Harvard.” HBCU graduates take pride in the collegiate experience they get: a transformational education that instills a connection to history and a duty to serve.\u003c/p>\n\u003cp>\u003c!--more-->“There is not only the intellectual development,” said Reid, “but the sense of who they are and a sense of purpose that comes in. Almost a calling, a belief that they’ve gotta ‘lift as they climb’.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>UNCF officials did not suggest outright racism in the lack of African-American high-tech leadership, and they did not attempt to lay blame on anyone for the current state of affairs. Attendees focused on building a new network among themselves for what they called ICE: Innovation, Commercialization and Entrepreneurship. The goal is to help HBCU students (African-American and not) and faculty turn their innovations into businesses. Sessions involved meet-and-greets with tech industry leaders, panels for sharing best practices, a reception at Facebook in Menlo Park, crash courses in how Silicon Valley does business and a visit to Stanford’s \u003ca href=\"http://dschool.stanford.edu/\">d.school\u003c/a>, a design institute that teaches the problem-solving method known as “design thinking.”\u003c/p>\n\u003cp>The summit is part of a larger initiative in the coming years, and if the partnership works as intended, the complexion of the tech sector could start looking a lot more like the nation of consumers it serves. That might also make good business sense, too: African-Americans and Hispanics are prolific users of consumer technology, especially \u003ca href=\"http://pewinternet.org/Commentary/2012/March/Pew-Internet-Social-Networking-full-detail.aspx\">social media\u003c/a>.\u003c/p>\n\u003cp>“The next Google, the next Facebook, the next Twitter lies in the heads of kids and youth that may or may not look like the majority of folks (in Silicon Valley),” said Chad Womack, who leads the College Fund’s Merck Science Initiative. “But that’s okay. Because ultimately we want an inclusive economy and an economy that grows where all boats are lifted, not just one boat or another.”\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Listen to reporter Joshua Johnson’s interview with United Negro College Fund’s senior vice president Karl Reid here:\u003c/p>\n\u003cdiv>\n\u003cdiv class=\"embedly\">\u003ciframe loading=\"lazy\" src=\"https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F118161343&show_artwork=true&maxwidth=900\" frameborder=\"no\" scrolling=\"no\" width=\"640\" height=\"166\">\u003c/iframe>\n\u003cdiv class=\"embedly-clear\">\u003c/div>\n\u003cp>\u003cspan class=\"embedly-powered\" style=\"float: right\">\u003ca title=\"Powered by Embedly\" href=\"http://embed.ly/code?url=https%3A%2F%2Fsoundcloud.com%2Fkqed%2Fhistorically-black-colleges\" target=\"_blank\" rel=\"noopener\">\u003cimg decoding=\"async\" src=\"http://static.embed.ly/images/logos/embedly-powered-small-light.png\" alt=\"Embedly Powered\">\u003c/a>\u003c/span>\u003c/p>\n\u003cdiv class=\"media-attribution\">\u003cspan>via \u003c/span>\u003ca class=\"media-attribution-link\" href=\"http://soundcloud.com\" target=\"_blank\" rel=\"noopener\">SoundCloud\u003c/a>\u003c/div>\n\u003cdiv class=\"embedly-clear\">\u003c/div>\n\u003c/div>\n\u003c/div>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "News Pix: Andy Lopez Funeral, Google Barge and San Francisco's Waterfront Debate",
"title": "News Pix: Andy Lopez Funeral, Google Barge and San Francisco's Waterfront Debate",
"headTitle": "News Fix | KQED News",
"content": "\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116816\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Lopez-Funeral.jpg\" alt=\"Lopez Funeral\" width=\"640\" height=\"449\">\u003cbr>\nHundreds of mourners filled the Resurrection Parish Church in west Santa Rosa at a \u003ca href=\"http://ww2.kqed.org/news/2013/10/29/andy-lopez/\">mass in Spanish on October 29 for 13-year-old Andy Lopez\u003c/a>, who died a week ago when he was shot by a Sonoma County sheriff's deputy. Here, pallbearers, including many of Lopez' classmates, carry his casket into the church. The shooting has outraged many in Santa Rosa, leading some Latino residents to speak out about discrimination in the community. (Rachel Dornhelm / KQED)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116817\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/8-Washington.jpg\" alt=\"8 Washington\" width=\"639\" height=\"450\">\u003cbr>\nThe proposed \u003ca href=\"http://ww2.kqed.org/news/2013/10/30/san-francisco-props-b-and-c-reignite-past-waterfront-battles/\">\"8 Washington\" development on San Francisco's Embarcadero\u003c/a> has become a hot-button election issue. Voters are being asked to approve the project in the 2013 election by voting on Prop. B and Prop. C. The ballot measures have polarized San Francisco voters struggling with rising housing costs and concerns over gentrification. As of election time, a private swim and tennis club occupies the site. (Monica Lam / KQED)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116820\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/closing-parks.jpg\" alt=\"closing parks\" width=\"640\" height=\"450\">\u003cbr>\nOpponents of Supervisor Scott Wiener's legislation to close San Francisco's parks rallied outside City Hall on October 29. Many \u003ca href=\"http://ww2.kqed.org/news/2013/10/29/san-francisco-park-curfew-homeless-advocates-oppose/\">protesters feel the law unfairly targets the homeless\u003c/a>, many of whom sleep in the city's parks. Tommi Mecca, director of counseling programs at the Housing Rights Committee of San Francisco, is incredulous that someone would propose closing all city parks at night. “How do you close Golden Gate Park? Put a wall around it?” he said. “We need housing, not park closures.” (Sara Bloomberg / KQED)\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c!--more-->\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116847\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/google-barge.jpg\" alt=\"google barge\" width=\"639\" height=\"450\">\u003cbr>\nThe purpose of Google's \u003ca href=\"http://ww2.kqed.org/news/2013/10/31/google-barge/\">mysterious structure\u003c/a> sitting on the water off of Treasure Island, across from the Bay Bridge, may have finally be solved. \u003ca href=\"http://sanfrancisco.cbslocal.com/2013/10/31/googles-secret-revealed-barge-to-offer-high-end-showrooms-party-deck/\">News reports\u003c/a> now say the barge \"will feature luxury showrooms and a party deck ... to market Google Glass and other gadgets to invitation-only clients.\" Earlier speculation had centered on the barge as a floating data center, or floating classrooms to teach tech. (Sara Bloomberg / KQED)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116867\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/CCSF-students.jpg\" alt=\"CCSF students\" width=\"640\" height=\"450\">\u003cbr>\nMore than 200 people rallied at City College of San Francisco's Civic Center location before marching to City Hall on October 31. Protesters delivered 5,000 postcards to Mayor Ed Lee asking him to be more vocal about his efforts to help save the school from closure. (Sara Bloomberg / KQED)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116822\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/PhotoWeek131101AppleProtest.jpg\" alt=\"PhotoWeek131101AppleProtest\" width=\"640\" height=\"450\">\u003cbr>\nMembers of Stand for Security banged drums and chanted slogans outside of the Apple store in Palo Alto. They allege that by subcontracting its security services to Security Industry Specialists, thousands of Silicon Valley security workers are kept as part-time employees — leaving them without benefits. (Hayley Goldbach / \u003ca href=\"http://peninsulapress.com/\">Peninsula Press\u003c/a>)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116823\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/PhotoWeek131101PoliceCamera.jpg\" alt=\"PhotoWeek131101PoliceCamera\" width=\"640\" height=\"450\">\u003cbr>\nRichmond Police Officer Anthony Diaz, left, looks at fellow officer Phillip Sanchez's body camera. Sanchez, right, is one of four officers selected to \u003ca href=\"http://richmondconfidential.org/2013/10/25/richmond-police-testing-use-of-body-cameras/\">test various types of body cameras for the department\u003c/a> before they issue them to all patrol officers. (Kevin N. Hume / \u003ca href=\"http://richmondconfidential.org/\">Richmond Confidential\u003c/a>)\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116816\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/Lopez-Funeral.jpg\" alt=\"Lopez Funeral\" width=\"640\" height=\"449\">\u003cbr>\nHundreds of mourners filled the Resurrection Parish Church in west Santa Rosa at a \u003ca href=\"http://ww2.kqed.org/news/2013/10/29/andy-lopez/\">mass in Spanish on October 29 for 13-year-old Andy Lopez\u003c/a>, who died a week ago when he was shot by a Sonoma County sheriff's deputy. Here, pallbearers, including many of Lopez' classmates, carry his casket into the church. The shooting has outraged many in Santa Rosa, leading some Latino residents to speak out about discrimination in the community. (Rachel Dornhelm / KQED)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116817\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/8-Washington.jpg\" alt=\"8 Washington\" width=\"639\" height=\"450\">\u003cbr>\nThe proposed \u003ca href=\"http://ww2.kqed.org/news/2013/10/30/san-francisco-props-b-and-c-reignite-past-waterfront-battles/\">\"8 Washington\" development on San Francisco's Embarcadero\u003c/a> has become a hot-button election issue. Voters are being asked to approve the project in the 2013 election by voting on Prop. B and Prop. C. The ballot measures have polarized San Francisco voters struggling with rising housing costs and concerns over gentrification. As of election time, a private swim and tennis club occupies the site. (Monica Lam / KQED)\u003c/p>\n\u003cp> \u003c/p>\n\u003cp>\u003cimg class=\"aligncenter size-full wp-image-116820\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/11/closing-parks.jpg\" alt=\"closing parks\" width=\"640\" height=\"450\">\u003cbr>\nOpponents of Supervisor Scott Wiener's legislation to close San Francisco's parks rallied outside City Hall on October 29. Many \u003ca href=\"http://ww2.kqed.org/news/2013/10/29/san-francisco-park-curfew-homeless-advocates-oppose/\">protesters feel the law unfairly targets the homeless\u003c/a>, many of whom sleep in the city's parks. Tommi Mecca, director of counseling programs at the Housing Rights Committee of San Francisco, is incredulous that someone would propose closing all city parks at night. “How do you close Golden Gate Park? Put a wall around it?” he said. “We need housing, not park closures.” (Sara Bloomberg / KQED)\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"disqusTitle": "Google Barge Speculation Heats Up After News Report",
"title": "Google Barge Speculation Heats Up After News Report",
"headTitle": "News Fix | KQED News",
"content": "\u003cp>\u003cstrong>By Jon Brooks and Katharine Fong\u003c/strong>\u003c/p>\n\u003cfigure id=\"attachment_116766\" class=\"wp-caption alignnone\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/10/31/google-barge/rs7294_google_barge_web_3-scr/\" rel=\"attachment wp-att-116766\">\u003cimg class=\"size-full wp-image-116766\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/10/RS7294_Google_Barge_web_3-scr-e1383263627908.jpg\" alt=\"A thing of mystery. (Sara Bloomberg / KQED)\" width=\"640\" height=\"427\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">A thing of mystery. (Sara Bloomberg / KQED)\u003c/figcaption>\u003c/figure>\n\u003cp>There comes a time in every online journalist's life when he has to capitulate to the newsworthiness of that damned Google Barge.\u003c/p>\n\u003cp>So, uncle, we say.\u003c/p>\n\u003cp>Uncle.\u003cstrong> \u003c/strong>\u003c/p>\n\u003cp>Citing \"multiple sources,\" \u003ca href=\"http://sanfrancisco.cbslocal.com/2013/10/31/googles-secret-revealed-barge-to-offer-high-end-showrooms-party-deck/\" target=\"_blank\">KPIX reported\u003c/a> last night that the barge \"will feature luxury showrooms and a party deck ... to market Google Glass and other gadgets to invitation-only clients.\"\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003cstrong>\u003c/strong>\u003c/p>\n\u003caside class=\"pullquote alignleft\">A \u003ca href=\"http://ww2.kqed.org/news/2013/10/31/google-barge/#list\">partial list\u003c/a> of what the barge might be:\n\u003cul>\n\u003cli>\u003cstrong>Offshore housing for San Francisco residents displaced by tech workers \u003c/strong>\u003c/li>\n\u003cli>\u003cstrong>Prototype of Google entry for the next America's Cup\u003c/strong>\u003c/li>\n\u003cli>\u003cstrong>Dick Cheney's new undisclosed location\u003c/strong>\u003c/li>\u003c/ul>\u003c/aside>\n\u003cp>\n\n\u003c/p>\u003cblockquote>\u003cp>The project, which has been in the planning stages for more than a year, was created at Google[x], the secret facility that Google reportedly runs near its corporate headquarters in Mountain View. It is personally directed by Google co-founder Sergey Brin and is Google’s attempt to upstage rival Apple and its chain of popular retail stores, sources said.\u003c/p>\u003c/blockquote>\n\u003cp> \u003c/p>\n\u003cp>KPIX also says the building is made out of shipping containers that can be disassembled and reconstructed in other locations.\u003c/p>\n\u003cp>\u003ca href=\"http://sanfrancisco.cbslocal.com/video?autoStart=true&topVideoCatNo=default&clipId=9478663\" target=\"_blank\">Watch the video report here\u003c/a>.\u003c/p>\n\u003cp>\u003ca href=\"http://news.cnet.com/8301-1023_3-57608585-93/is-google-building-a-hulking-floating-data-center-in-sf-bay/\" target=\"_blank\">CNET broke the barge story\u003c/a> last week, reporting that \"Google was granted a patent in 2009 for a floating data center, and putting data centers inside shipping containers is already a well-established practice.\" Google has a history of \u003ca href=\"http://news.cnet.com/Jostling-to-get-inside-Googles-Oregon-outpost/2100-1030_3-6089518.html\">putting data centers in places with cheap cooling\u003c/a> — a best-usage idea for the bay if we've ever heard one — as well as taking on unique projects like \u003ca title=\"Meet Google's 'Project Loon': Balloon-powered Net access -- Friday, Jun 14, 2013\" href=\"http://news.cnet.com/8301-17938_105-57589464-1/meet-googles-project-loon-balloon-powered-net-access/\">bringing Internet access to developing nations via balloons\u003c/a> and \u003ca title=\"Google said to deploy Wi-Fi blimps in Africa and Asia -- Monday, May 27, 2013\" href=\"http://news.cnet.com/8301-1023_3-57586348-93/google-said-to-deploy-wi-fi-blimps-in-africa-and-asia/\">blimps\u003c/a>.\u003c/p>\n\u003cp>But others have suggested that the barge will be a \u003ca href=\"http://sanfrancisco.cbslocal.com/2013/10/25/secret-google-facility-found-floating-on-san-francisco-bay/\">floating store for Google Glass\u003c/a>, or as a \u003ca href=\"http://www.mercurynews.com/business/ci_24409819/googles-top-secret-floating-facility-waterborne-data-center?source=pkg\">floating classroom to teach about tech\u003c/a>. (See the Washington Post's \u003ca href=\"http://www.washingtonpost.com/blogs/innovations/wp/2013/10/30/googles-crazy-barge-scheme-your-complete-guide/?tid=pm_national_pop\" target=\"_blank\">Google's crazy barge scheme: Your complete guide\u003c/a> for more. And don't forget, there's \u003ca href=\"http://www.latimes.com/business/technology/la-fi-tn-google-barges-what-could-they-be-20131029,0,804501.story#axzz2jJqDsEYa\" target=\"_blank\">another secret floating barge\u003c/a> all the way on the other side of the country. Which means, of course, we are now \u003cem>surrounded\u003c/em>.)\u003c/p>\n\u003cp>Whatever the barge is, no one is at liberty to say, at least publicly. Non-disclosure agreements have been flying all over the place. Even the U.S. Coast Guard, which \u003ca href=\"http://www.usatoday.com/story/news/nation/2013/10/30/coast-guard-visits-mysterious-google-barge/3318347/\">visited the barge yesterday\u003c/a>, had to sign NDAs.\u003c/p>\n\u003cp>Two nights ago, Jon Stewart weighed in, in a segment titled \"Floaters\" (!). Stewart noted Google's ubiquity, now surrounding us on water and from the air, as well as monitoring every street in the country — and, with its effort to \u003ca href=\"http://content.time.com/time/magazine/article/0,9171,2152422,00.html\">\"solve death,\"\u003c/a> he said, the company \"won't even let us die!\"\u003c/p>\n\u003cp>\u003ciframe src=\"http://media.mtvnservices.com/embed/mgid:cms:video:thedailyshow.com:430081\" frameborder=\"0\" width=\"360\" height=\"293\">\u003c/iframe>\u003c/p>\n\u003cp>\u003c!--more-->In keeping with \"write what you know,\" Mercury News Sports columnist Mark Purdy on Thursday \u003ca href=\"http://www.mercurynews.com/sports/ci_24422304/purdy-google-barge-docked-at-treasure-island-leads\">offered up\u003c/a> his own theories about the mysterious barge, summed up in a handy poll for readers:\u003c/p>\n\u003cp>What should the Google barge hold?\u003c/p>\n\u003cul>\n\u003cli>The \"GoogleBarn\" Warriors stadium (cheaper than renovating Piers 30-32)\u003c/li>\n\u003cli>49er Michael Crabtree's secret Achilles' tendon rehab facility\u003c/li>\n\u003cli>A floating medical unit for injured San Jose Sharks players\u003c/li>\n\u003cli>Shame shelter for Cal's non-graduate athletes\u003c/li>\n\u003cli>Storage for 50 dozen varieties of Oregon's football uniforms, to be used Nov. 7 against Stanford\u003c/li>\n\u003cli>Isolation chamber for Bud Selig, after he is kidnapped by Oakland and San Jose officials, until he finally decides the A's ballpark issue.\u003c/li>\n\u003c/ul>\n\u003cp>\u003ca name=\"list\">\u003c/a>\u003c/p>\n\u003cp>Suffice it to say, we're all dying to know what the barge is for. But if Google has its way, as Stewart reminded us, that may never happen. Some other possibilities ...\u003c/p>\n\u003cul>\n\u003cli>Offshore housing for San Francisco residents displaced by tech workers\u003c/li>\n\u003cli>Prototype of Google entry for the next America's Cup\u003c/li>\n\u003cli>Dick Cheney's new undisclosed location\u003c/li>\n\u003cli>Expensive yet too-literal tribute to \u003ca href=\"http://www.youtube.com/watch?v=cAQSZhazYk8\" target=\"_blank\">1980s soul group DeBarge\u003c/a>\u003c/li>\n\u003cli>Floating fortress for Larry Page walking-around money\u003c/li>\n\u003cli>\"Barge\" one of few nouns left in English language not modified by \"Google\" — \u003cem>rectified\u003c/em>.\u003c/li>\n\u003cli>The \u003ca href=\"http://www.google.com/imgres?imgurl=http://www.startrek.com/legacy_media/images/200508/tng-142-j25-borg-cube/320x240.jpg&imgrefurl=http://scary-pictures.feedio.net/wtf-star-trek-mondo-s-borg-queen-poster/mimg.ugo.com*201007*51066*cuts*spock-monkey_480x640.jpg/&h=240&w=320&sz=30&tbnid=3HM7Q9pLS-N3mM:&tbnh=103&tbnw=137&zoom=1&usg=__nBiVm-1teUZdKe-B7otsvs-B62c=&docid=n0EfZQjb4l1roM&sa=X&ei=C9tyUrj2Lqb5iQLj9IGQBQ&ved=0CD8Q9QEwAg\" target=\"_blank\">Borg\u003c/a> have finally \u003ca href=\"http://ww4.hdnux.com/photos/24/41/52/5380799/3/628x471.jpg\" target=\"_blank\">arrived\u003c/a>.\u003c/li>\n\u003c/ul>\n\u003cp>\u003c/p>\n\u003cp>Enjoy barge season. It may go on for awhile.\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cstrong>By Jon Brooks and Katharine Fong\u003c/strong>\u003c/p>\n\u003cfigure id=\"attachment_116766\" class=\"wp-caption alignnone\" style=\"max-width: 640px\">\u003ca href=\"http://ww2.kqed.org/news/2013/10/31/google-barge/rs7294_google_barge_web_3-scr/\" rel=\"attachment wp-att-116766\">\u003cimg class=\"size-full wp-image-116766\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/10/RS7294_Google_Barge_web_3-scr-e1383263627908.jpg\" alt=\"A thing of mystery. (Sara Bloomberg / KQED)\" width=\"640\" height=\"427\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">A thing of mystery. (Sara Bloomberg / KQED)\u003c/figcaption>\u003c/figure>\n\u003cp>There comes a time in every online journalist's life when he has to capitulate to the newsworthiness of that damned Google Barge.\u003c/p>\n\u003cp>So, uncle, we say.\u003c/p>\n\u003cp>Uncle.\u003cstrong> \u003c/strong>\u003c/p>\n\u003cp>Citing \"multiple sources,\" \u003ca href=\"http://sanfrancisco.cbslocal.com/2013/10/31/googles-secret-revealed-barge-to-offer-high-end-showrooms-party-deck/\" target=\"_blank\">KPIX reported\u003c/a> last night that the barge \"will feature luxury showrooms and a party deck ... to market Google Glass and other gadgets to invitation-only clients.\"\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>\u003cstrong>\u003c/strong>\u003c/p>\n\u003caside class=\"pullquote alignleft\">A \u003ca href=\"http://ww2.kqed.org/news/2013/10/31/google-barge/#list\">partial list\u003c/a> of what the barge might be:\n\u003cul>\n\u003cli>\u003cstrong>Offshore housing for San Francisco residents displaced by tech workers \u003c/strong>\u003c/li>\n\u003cli>\u003cstrong>Prototype of Google entry for the next America's Cup\u003c/strong>\u003c/li>\n\u003cli>\u003cstrong>Dick Cheney's new undisclosed location\u003c/strong>\u003c/li>\u003c/ul>\u003c/aside>\n\u003cp>\n\n\u003c/p>\u003cblockquote>\u003cp>The project, which has been in the planning stages for more than a year, was created at Google[x], the secret facility that Google reportedly runs near its corporate headquarters in Mountain View. It is personally directed by Google co-founder Sergey Brin and is Google’s attempt to upstage rival Apple and its chain of popular retail stores, sources said.\u003c/p>\u003c/blockquote>\n\u003cp> \u003c/p>\n\u003cp>KPIX also says the building is made out of shipping containers that can be disassembled and reconstructed in other locations.\u003c/p>\n\u003cp>\u003ca href=\"http://sanfrancisco.cbslocal.com/video?autoStart=true&topVideoCatNo=default&clipId=9478663\" target=\"_blank\">Watch the video report here\u003c/a>.\u003c/p>\n\u003cp>\u003ca href=\"http://news.cnet.com/8301-1023_3-57608585-93/is-google-building-a-hulking-floating-data-center-in-sf-bay/\" target=\"_blank\">CNET broke the barge story\u003c/a> last week, reporting that \"Google was granted a patent in 2009 for a floating data center, and putting data centers inside shipping containers is already a well-established practice.\" Google has a history of \u003ca href=\"http://news.cnet.com/Jostling-to-get-inside-Googles-Oregon-outpost/2100-1030_3-6089518.html\">putting data centers in places with cheap cooling\u003c/a> — a best-usage idea for the bay if we've ever heard one — as well as taking on unique projects like \u003ca title=\"Meet Google's 'Project Loon': Balloon-powered Net access -- Friday, Jun 14, 2013\" href=\"http://news.cnet.com/8301-17938_105-57589464-1/meet-googles-project-loon-balloon-powered-net-access/\">bringing Internet access to developing nations via balloons\u003c/a> and \u003ca title=\"Google said to deploy Wi-Fi blimps in Africa and Asia -- Monday, May 27, 2013\" href=\"http://news.cnet.com/8301-1023_3-57586348-93/google-said-to-deploy-wi-fi-blimps-in-africa-and-asia/\">blimps\u003c/a>.\u003c/p>\n\u003cp>But others have suggested that the barge will be a \u003ca href=\"http://sanfrancisco.cbslocal.com/2013/10/25/secret-google-facility-found-floating-on-san-francisco-bay/\">floating store for Google Glass\u003c/a>, or as a \u003ca href=\"http://www.mercurynews.com/business/ci_24409819/googles-top-secret-floating-facility-waterborne-data-center?source=pkg\">floating classroom to teach about tech\u003c/a>. (See the Washington Post's \u003ca href=\"http://www.washingtonpost.com/blogs/innovations/wp/2013/10/30/googles-crazy-barge-scheme-your-complete-guide/?tid=pm_national_pop\" target=\"_blank\">Google's crazy barge scheme: Your complete guide\u003c/a> for more. And don't forget, there's \u003ca href=\"http://www.latimes.com/business/technology/la-fi-tn-google-barges-what-could-they-be-20131029,0,804501.story#axzz2jJqDsEYa\" target=\"_blank\">another secret floating barge\u003c/a> all the way on the other side of the country. Which means, of course, we are now \u003cem>surrounded\u003c/em>.)\u003c/p>\n\u003cp>Whatever the barge is, no one is at liberty to say, at least publicly. Non-disclosure agreements have been flying all over the place. Even the U.S. Coast Guard, which \u003ca href=\"http://www.usatoday.com/story/news/nation/2013/10/30/coast-guard-visits-mysterious-google-barge/3318347/\">visited the barge yesterday\u003c/a>, had to sign NDAs.\u003c/p>\n\u003cp>Two nights ago, Jon Stewart weighed in, in a segment titled \"Floaters\" (!). Stewart noted Google's ubiquity, now surrounding us on water and from the air, as well as monitoring every street in the country — and, with its effort to \u003ca href=\"http://content.time.com/time/magazine/article/0,9171,2152422,00.html\">\"solve death,\"\u003c/a> he said, the company \"won't even let us die!\"\u003c/p>\n\u003cp>\u003ciframe src=\"http://media.mtvnservices.com/embed/mgid:cms:video:thedailyshow.com:430081\" frameborder=\"0\" width=\"360\" height=\"293\">\u003c/iframe>\u003c/p>\n\u003cp>\u003c!--more-->In keeping with \"write what you know,\" Mercury News Sports columnist Mark Purdy on Thursday \u003ca href=\"http://www.mercurynews.com/sports/ci_24422304/purdy-google-barge-docked-at-treasure-island-leads\">offered up\u003c/a> his own theories about the mysterious barge, summed up in a handy poll for readers:\u003c/p>\n\u003cp>What should the Google barge hold?\u003c/p>\n\u003cul>\n\u003cli>The \"GoogleBarn\" Warriors stadium (cheaper than renovating Piers 30-32)\u003c/li>\n\u003cli>49er Michael Crabtree's secret Achilles' tendon rehab facility\u003c/li>\n\u003cli>A floating medical unit for injured San Jose Sharks players\u003c/li>\n\u003cli>Shame shelter for Cal's non-graduate athletes\u003c/li>\n\u003cli>Storage for 50 dozen varieties of Oregon's football uniforms, to be used Nov. 7 against Stanford\u003c/li>\n\u003cli>Isolation chamber for Bud Selig, after he is kidnapped by Oakland and San Jose officials, until he finally decides the A's ballpark issue.\u003c/li>\n\u003c/ul>\n\u003cp>\u003ca name=\"list\">\u003c/a>\u003c/p>\n\u003cp>Suffice it to say, we're all dying to know what the barge is for. But if Google has its way, as Stewart reminded us, that may never happen. Some other possibilities ...\u003c/p>\n\u003cul>\n\u003cli>Offshore housing for San Francisco residents displaced by tech workers\u003c/li>\n\u003cli>Prototype of Google entry for the next America's Cup\u003c/li>\n\u003cli>Dick Cheney's new undisclosed location\u003c/li>\n\u003cli>Expensive yet too-literal tribute to \u003ca href=\"http://www.youtube.com/watch?v=cAQSZhazYk8\" target=\"_blank\">1980s soul group DeBarge\u003c/a>\u003c/li>\n\u003cli>Floating fortress for Larry Page walking-around money\u003c/li>\n\u003cli>\"Barge\" one of few nouns left in English language not modified by \"Google\" — \u003cem>rectified\u003c/em>.\u003c/li>\n\u003cli>The \u003ca href=\"http://www.google.com/imgres?imgurl=http://www.startrek.com/legacy_media/images/200508/tng-142-j25-borg-cube/320x240.jpg&imgrefurl=http://scary-pictures.feedio.net/wtf-star-trek-mondo-s-borg-queen-poster/mimg.ugo.com*201007*51066*cuts*spock-monkey_480x640.jpg/&h=240&w=320&sz=30&tbnid=3HM7Q9pLS-N3mM:&tbnh=103&tbnw=137&zoom=1&usg=__nBiVm-1teUZdKe-B7otsvs-B62c=&docid=n0EfZQjb4l1roM&sa=X&ei=C9tyUrj2Lqb5iQLj9IGQBQ&ved=0CD8Q9QEwAg\" target=\"_blank\">Borg\u003c/a> have finally \u003ca href=\"http://ww4.hdnux.com/photos/24/41/52/5380799/3/628x471.jpg\" target=\"_blank\">arrived\u003c/a>.\u003c/li>\n\u003c/ul>\n\u003cp>\u003c/p>\n\u003cp>Enjoy barge season. It may go on for awhile.\u003c/p>\n\n\u003c/div>\u003c/p>",
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"disqusTitle": "Facebook Shares Soar 15% After Hours ... Then Give It All Back",
"title": "Facebook Shares Soar 15% After Hours ... Then Give It All Back",
"headTitle": "News Fix | KQED News",
"content": "\u003cp>\u003cimg class=\"aligncenter size-full wp-image-93309\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/04/facebook-e1381771793613.jpg\" alt=\"Facebook \" width=\"640\" height=\"426\">\u003c/p>\n\u003cp>\u003cstrong>Update\u003c/strong>: \u003ca href=\"http://finance.yahoo.com/q;_ylt=AlGt4i.jwqDRjLUyK_c1GVeiuYdG;_ylu=X3oDMTBwdm1qNzVjBHNlYwNVSCAzIERlc2t0b3AgU2VhcmNoIDI-;_ylg=X3oDMTByMXNyNDlhBGxhbmcDZW4tVVMEcHQDcG1oBHRlc3QDZ3MxOQ--;_ylv=3?uhb=uhb2&fr=uh3_finance_vert&type=2button&s=fb\" target=\"_blank\">Facebook shares\u003c/a> \u003cdel>are\u003c/del> were soaring after-hours on the heels of the company's third-quarter earnings release. The update: Unbelievably the stock rose about 15 percent after the expectations-beating numbers came out, then came tumbling down, dipping into the red.\u003c/p>\n\u003cp>So what happened? Here's the take from \u003ca href=\"http://allthingsd.com/20131030/liveblog-growth-mobile-and-more-on-facebooks-q3-earnings/?mod=atd_homepage_carousel\" target=\"_blank\">AllThingsD\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>Making money from mobile users — once considered a grim prospect for the social giant — has come faster than many could have anticipated; mobile revenues now account for nearly half of all ad revenues for the company. Growth is also up across the board in terms of user numbers.\u003c/p>\n\u003cp>Alas, that happiness was short-lived; after the stock skyrocketed 12 percent in after-hours trading to top more than $55, shares took a nosedive on the news that the company saw “a decrease in daily users — specifically among younger teens,” in its estimates. In mere minutes, the stock lost nearly $18 billion in market value.\u003c/p>\n\u003cp>While that’s certainly a problem the company has to solve, most of the call was fairly good news — ARPU is up, CapEx is down and mobile is humming along nice and smoothly.\u003c/p>\u003c/blockquote>\n\u003cp>Another take from \u003ca href=\"http://finance.yahoo.com/news/facebook-smashes-analyst-targets-executive-012332447.html\" target=\"_blank\">Reuters\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>In July, Facebook said it was showing one ad per 20 stories in the newsfeed, but Chief Financial Officer David Ebersman told analysts Wednesday that the current ratio, although slightly higher than 5 percent, would not increase much more going forward ... Ebersman's comments, combined with remarks suggesting that young teenage users in the U.S. were beginning to use Facebook less frequently, soured the mood abruptly ...\u003c/p>\u003c/blockquote>\n\u003cp>MarketWatch \u003ca href=\"http://blogs.marketwatch.com/thetell/2013/10/30/live-blog-facebooks-third-quarter-earnings-call/\" target=\"_blank\">live-blogge\u003c/a>\u003ca href=\"http://blogs.marketwatch.com/thetell/2013/10/30/live-blog-facebooks-third-quarter-earnings-call/\" target=\"_blank\">d\u003c/a>\u003ca href=\"http://blogs.marketwatch.com/thetell/2013/10/30/live-blog-facebooks-third-quarter-earnings-call/\" target=\"_blank\"> Facebook's conference call\u003c/a>. Excerpts from their blow-by-blow:\u003c/p>\n\u003cblockquote>\u003cp>2:02 p.m. Earnings call starting. Stock up 10%. Mark Zuckerberg, Sheryl Sandberg on the call\u003c/p>\n\u003cp>2:12 p.m. Chief Operating Officer Sheryl Sandberg now discussing financials. Stock up 8%.\u003c/p>\n\u003cp>2:25 p.m. [CFO David] Ebersman says Facebook does not expect to \"significantly increase ads as a percentage of newsfeed stories beyond where we were at the end of Q3.\"\u003c/p>\n\u003cp>2:26 p.m. Q&A starts. Stock now up 5%.\u003c/p>\n\u003cp>2:33 p.m. Stock has surrendered some gains, now up just 2.5%. Topeka's Victor Anthony tells MarketWatch it was probably the comment on a decline in daily usage among younger teens.\u003c/p>\n\u003cp>2:37 p.m. The comment from Ebersman about not increasing frequency of newsfeed ads may have spooked some investors, another analysts says.\u003c/p>\n\u003cp>2:39 p.m. Stock is now just up 1%.\u003c/p>\n\u003cp>2:53 p.m. Facebook shares turn negative.\u003c/p>\n\u003cp>2:59 p.m. Facebook's 14% after-hours stock gain: Gone. Could be comment on declining youth user growth or on caution in ramping up newsfeed ads.\u003c/p>\u003c/blockquote>\n\u003cp>\u003cem>\u003c!--more-->Earlier\u003c/em>\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Numbers from MarketWatch and the Wall Street Journal:\u003c/p>\n\u003cblockquote>\u003cp>Facebook Q3 adjusted EPS 25 cents vs. 19c expected\u003c/p>\n\u003cp>Facebook Q3 revs $2.02B vs. $1.9B expected\u003c/p>\n\u003cp>Daily active users 728 million, up from 699 million last quarter and 584 million a year ago\u003c/p>\n\u003cp>Mobile monthly active users 874 million, up from 819 a quarter ago and 604 million a year ago\u003c/p>\n\u003cp>Revenue from advertising $1.8 billion. Mobile revenue is 49% of that -- up from $1.6 billion and 41% last quarter.\u003c/p>\u003c/blockquote>\n\u003cp>\u003ca href=\"http://files.shareholder.com/downloads/AMDA-NJ5DZ/2762500567x0x701521/ccb18475-2b8a-4bd2-a342-f2962e6f8e9d/FacebookReportsThirdQuarter2013Results.pdf\" target=\"_blank\">Complete earnings report here\u003c/a>.\u003c/p>\n\u003cp>\u003ca href=\"http://blogs.wsj.com/digits/2013/10/30/live-facebook-earnings-analyst-call/\" target=\"_blank\">Live blog\u003c/a> from the Wall Street Journal.\u003c/p>\n\u003cp>\u003c!--more-->\u003c/p>\n\u003cp>\u003cem>Original post\u003c/em>\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Facebook is set to announce third-quarter earnings after the bell at 1 p.m. PT. Shares are up more than 50 percent since its last report in July, and investors no doubt are hoping for more based on today's numbers. Some things to look for, all concerning mobile, mobile, mobile ...\u003c/p>\n\u003cul>\n\u003cli>\u003ca href=\"http://blogs.wsj.com/digits/2013/10/30/facebook-earnings-what-to-watch/?mod=WSJ_hpp_MIDDLENexttoWhatsNewsFifth\" target=\"_blank\">Facebook Earnings: What to Watch\u003c/a> (Wall Street Journal)\u003cbr>\n\u003cblockquote>\u003cp>Mobile advertising grew to 41% of Facebook’s revenue in the second quarter, from 30% in the first quarter. Some analysts, though, questioned whether mobile advertising represented a truly new stream of revenue, or was simply being diverted from desktop advertising.\u003c/p>\n\u003cp>“It’s not advertisers saying ‘I must have mobile,’” said Brian Wieser, an analyst at Pivotal Group. He wants more details on how Facebook breaks out and calculates mobile advertising. Facebook declined to comment.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.sfgate.com/business/article/Facebook-earnings-report-will-hinge-on-mobile-4937155.php\" target=\"_blank\">Facebook earnings report will hinge on mobile\u003c/a> (SF Chronicle)\u003cbr>\n\u003cblockquote>\u003cp>(T)he bigger revenue story down the line might be its Instagram mobile photo-sharing app, which is only beginning to experiment with ads.\u003c/p>\n\u003cp>\"Instagram definitely gives them that lift from mobile because it's a more native platform to advertise on\" than the main Facebook app, said Craig Elimeliah, vice president and director of creative technology at digital marketing agency Rapp.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.businessinsider.com/heres-the-number-google-should-worry-about-when-facebook-reports-its-earnings-tomorrow-2013-10\">Here's The Number Google Should Worry About When Facebook Reports Its Earnings Tomorrow\u003c/a> (Business Insider)\u003cbr>\n\u003cblockquote>\u003cp>There's one number that Google sales boss Nikesh Arora should be on the lookout for: the number of mobile app developers who bought Facebook ads promoting their apps.\u003c/p>\n\u003cp>Facebook has an mobile ad product where app developers pay Facebook every time a user installs their app.\u003c/p>\n\u003cp>In the first quarter, 3,800 developers bought install apps. In the second quarter, the number increased to 8400. This quarter, the number could hit 20,000 or more. That number's rapid growth signifies how, as personal computing shifts from desktop to mobile, Google's position as the way for consumers to discovers businesses through the Internet is weakening.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003c/ul>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cimg class=\"aligncenter size-full wp-image-93309\" src=\"http://ww2.kqed.org/news/wp-content/uploads/sites/10/2013/04/facebook-e1381771793613.jpg\" alt=\"Facebook \" width=\"640\" height=\"426\">\u003c/p>\n\u003cp>\u003cstrong>Update\u003c/strong>: \u003ca href=\"http://finance.yahoo.com/q;_ylt=AlGt4i.jwqDRjLUyK_c1GVeiuYdG;_ylu=X3oDMTBwdm1qNzVjBHNlYwNVSCAzIERlc2t0b3AgU2VhcmNoIDI-;_ylg=X3oDMTByMXNyNDlhBGxhbmcDZW4tVVMEcHQDcG1oBHRlc3QDZ3MxOQ--;_ylv=3?uhb=uhb2&fr=uh3_finance_vert&type=2button&s=fb\" target=\"_blank\">Facebook shares\u003c/a> \u003cdel>are\u003c/del> were soaring after-hours on the heels of the company's third-quarter earnings release. The update: Unbelievably the stock rose about 15 percent after the expectations-beating numbers came out, then came tumbling down, dipping into the red.\u003c/p>\n\u003cp>So what happened? Here's the take from \u003ca href=\"http://allthingsd.com/20131030/liveblog-growth-mobile-and-more-on-facebooks-q3-earnings/?mod=atd_homepage_carousel\" target=\"_blank\">AllThingsD\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>Making money from mobile users — once considered a grim prospect for the social giant — has come faster than many could have anticipated; mobile revenues now account for nearly half of all ad revenues for the company. Growth is also up across the board in terms of user numbers.\u003c/p>\n\u003cp>Alas, that happiness was short-lived; after the stock skyrocketed 12 percent in after-hours trading to top more than $55, shares took a nosedive on the news that the company saw “a decrease in daily users — specifically among younger teens,” in its estimates. In mere minutes, the stock lost nearly $18 billion in market value.\u003c/p>\n\u003cp>While that’s certainly a problem the company has to solve, most of the call was fairly good news — ARPU is up, CapEx is down and mobile is humming along nice and smoothly.\u003c/p>\u003c/blockquote>\n\u003cp>Another take from \u003ca href=\"http://finance.yahoo.com/news/facebook-smashes-analyst-targets-executive-012332447.html\" target=\"_blank\">Reuters\u003c/a>:\u003c/p>\n\u003cblockquote>\u003cp>In July, Facebook said it was showing one ad per 20 stories in the newsfeed, but Chief Financial Officer David Ebersman told analysts Wednesday that the current ratio, although slightly higher than 5 percent, would not increase much more going forward ... Ebersman's comments, combined with remarks suggesting that young teenage users in the U.S. were beginning to use Facebook less frequently, soured the mood abruptly ...\u003c/p>\u003c/blockquote>\n\u003cp>MarketWatch \u003ca href=\"http://blogs.marketwatch.com/thetell/2013/10/30/live-blog-facebooks-third-quarter-earnings-call/\" target=\"_blank\">live-blogge\u003c/a>\u003ca href=\"http://blogs.marketwatch.com/thetell/2013/10/30/live-blog-facebooks-third-quarter-earnings-call/\" target=\"_blank\">d\u003c/a>\u003ca href=\"http://blogs.marketwatch.com/thetell/2013/10/30/live-blog-facebooks-third-quarter-earnings-call/\" target=\"_blank\"> Facebook's conference call\u003c/a>. Excerpts from their blow-by-blow:\u003c/p>\n\u003cblockquote>\u003cp>2:02 p.m. Earnings call starting. Stock up 10%. Mark Zuckerberg, Sheryl Sandberg on the call\u003c/p>\n\u003cp>2:12 p.m. Chief Operating Officer Sheryl Sandberg now discussing financials. Stock up 8%.\u003c/p>\n\u003cp>2:25 p.m. [CFO David] Ebersman says Facebook does not expect to \"significantly increase ads as a percentage of newsfeed stories beyond where we were at the end of Q3.\"\u003c/p>\n\u003cp>2:26 p.m. Q&A starts. Stock now up 5%.\u003c/p>\n\u003cp>2:33 p.m. Stock has surrendered some gains, now up just 2.5%. Topeka's Victor Anthony tells MarketWatch it was probably the comment on a decline in daily usage among younger teens.\u003c/p>\n\u003cp>2:37 p.m. The comment from Ebersman about not increasing frequency of newsfeed ads may have spooked some investors, another analysts says.\u003c/p>\n\u003cp>2:39 p.m. Stock is now just up 1%.\u003c/p>\n\u003cp>2:53 p.m. Facebook shares turn negative.\u003c/p>\n\u003cp>2:59 p.m. Facebook's 14% after-hours stock gain: Gone. Could be comment on declining youth user growth or on caution in ramping up newsfeed ads.\u003c/p>\u003c/blockquote>\n\u003cp>\u003cem>\u003c!--more-->Earlier\u003c/em>\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>Numbers from MarketWatch and the Wall Street Journal:\u003c/p>\n\u003cblockquote>\u003cp>Facebook Q3 adjusted EPS 25 cents vs. 19c expected\u003c/p>\n\u003cp>Facebook Q3 revs $2.02B vs. $1.9B expected\u003c/p>\n\u003cp>Daily active users 728 million, up from 699 million last quarter and 584 million a year ago\u003c/p>\n\u003cp>Mobile monthly active users 874 million, up from 819 a quarter ago and 604 million a year ago\u003c/p>\n\u003cp>Revenue from advertising $1.8 billion. Mobile revenue is 49% of that -- up from $1.6 billion and 41% last quarter.\u003c/p>\u003c/blockquote>\n\u003cp>\u003ca href=\"http://files.shareholder.com/downloads/AMDA-NJ5DZ/2762500567x0x701521/ccb18475-2b8a-4bd2-a342-f2962e6f8e9d/FacebookReportsThirdQuarter2013Results.pdf\" target=\"_blank\">Complete earnings report here\u003c/a>.\u003c/p>\n\u003cp>\u003ca href=\"http://blogs.wsj.com/digits/2013/10/30/live-facebook-earnings-analyst-call/\" target=\"_blank\">Live blog\u003c/a> from the Wall Street Journal.\u003c/p>\n\u003cp>\u003c!--more-->\u003c/p>\n\u003cp>\u003cem>Original post\u003c/em>\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Facebook is set to announce third-quarter earnings after the bell at 1 p.m. PT. Shares are up more than 50 percent since its last report in July, and investors no doubt are hoping for more based on today's numbers. Some things to look for, all concerning mobile, mobile, mobile ...\u003c/p>\n\u003cul>\n\u003cli>\u003ca href=\"http://blogs.wsj.com/digits/2013/10/30/facebook-earnings-what-to-watch/?mod=WSJ_hpp_MIDDLENexttoWhatsNewsFifth\" target=\"_blank\">Facebook Earnings: What to Watch\u003c/a> (Wall Street Journal)\u003cbr>\n\u003cblockquote>\u003cp>Mobile advertising grew to 41% of Facebook’s revenue in the second quarter, from 30% in the first quarter. Some analysts, though, questioned whether mobile advertising represented a truly new stream of revenue, or was simply being diverted from desktop advertising.\u003c/p>\n\u003cp>“It’s not advertisers saying ‘I must have mobile,’” said Brian Wieser, an analyst at Pivotal Group. He wants more details on how Facebook breaks out and calculates mobile advertising. Facebook declined to comment.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.sfgate.com/business/article/Facebook-earnings-report-will-hinge-on-mobile-4937155.php\" target=\"_blank\">Facebook earnings report will hinge on mobile\u003c/a> (SF Chronicle)\u003cbr>\n\u003cblockquote>\u003cp>(T)he bigger revenue story down the line might be its Instagram mobile photo-sharing app, which is only beginning to experiment with ads.\u003c/p>\n\u003cp>\"Instagram definitely gives them that lift from mobile because it's a more native platform to advertise on\" than the main Facebook app, said Craig Elimeliah, vice president and director of creative technology at digital marketing agency Rapp.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003cli>\u003ca href=\"http://www.businessinsider.com/heres-the-number-google-should-worry-about-when-facebook-reports-its-earnings-tomorrow-2013-10\">Here's The Number Google Should Worry About When Facebook Reports Its Earnings Tomorrow\u003c/a> (Business Insider)\u003cbr>\n\u003cblockquote>\u003cp>There's one number that Google sales boss Nikesh Arora should be on the lookout for: the number of mobile app developers who bought Facebook ads promoting their apps.\u003c/p>\n\u003cp>Facebook has an mobile ad product where app developers pay Facebook every time a user installs their app.\u003c/p>\n\u003cp>In the first quarter, 3,800 developers bought install apps. In the second quarter, the number increased to 8400. This quarter, the number could hit 20,000 or more. That number's rapid growth signifies how, as personal computing shifts from desktop to mobile, Google's position as the way for consumers to discovers businesses through the Internet is weakening.\u003c/p>\u003c/blockquote>\n\u003c/li>\n\u003c/ul>\n\n\u003c/div>\u003c/p>",
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},
"closealltabs": {
"id": "closealltabs",
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"order": 1
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"title": "Code Switch / Life Kit",
"info": "\u003cem>Code Switch\u003c/em>, which listeners will hear in the first part of the hour, has fearless and much-needed conversations about race. Hosted by journalists of color, the show tackles the subject of race head-on, exploring how it impacts every part of society — from politics and pop culture to history, sports and more.\u003cbr />\u003cbr />\u003cem>Life Kit\u003c/em>, which will be in the second part of the hour, guides you through spaces and feelings no one prepares you for — from finances to mental health, from workplace microaggressions to imposter syndrome, from relationships to parenting. The show features experts with real world experience and shares their knowledge. Because everyone needs a little help being human.\u003cbr />\u003cbr />\u003ca href=\"https://www.npr.org/podcasts/510312/codeswitch\">\u003cem>Code Switch\u003c/em> offical site and podcast\u003c/a>\u003cbr />\u003ca href=\"https://www.npr.org/lifekit\">\u003cem>Life Kit\u003c/em> offical site and podcast\u003c/a>\u003cbr />",
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"id": "commonwealth-club",
"title": "Commonwealth Club of California Podcast",
"info": "The Commonwealth Club of California is the nation's oldest and largest public affairs forum. As a non-partisan forum, The Club brings to the public airwaves diverse viewpoints on important topics. The Club's weekly radio broadcast - the oldest in the U.S., dating back to 1924 - is carried across the nation on public radio stations and is now podcasting. Our website archive features audio of our recent programs, as well as selected speeches from our long and distinguished history. This podcast feed is usually updated twice a week and is always un-edited.",
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"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Commonwealth-Club-Podcast-Tile-360x360-1.jpg",
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"source": "Commonwealth Club of California"
},
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"google": "https://podcasts.google.com/feed/aHR0cDovL3d3dy5jb21tb253ZWFsdGhjbHViLm9yZy9hdWRpby9wb2RjYXN0L3dlZWtseS54bWw",
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"id": "forum",
"title": "Forum",
"tagline": "The conversation starts here",
"info": "KQED’s live call-in program discussing local, state, national and international issues, as well as in-depth interviews.",
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"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Forum-Podcast-Tile-703x703-1.jpg",
"imageAlt": "KQED Forum with Mina Kim and Alexis Madrigal",
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"order": 9
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"id": "freakonomics-radio",
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"meta": {
"site": "radio",
"source": "WNYC"
},
"link": "/radio/program/freakonomics-radio",
"subscribe": {
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"apple": "https://itunes.apple.com/us/podcast/freakonomics-radio/id354668519",
"tuneIn": "https://tunein.com/podcasts/WNYC-Podcasts/Freakonomics-Radio-p272293/",
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},
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"id": "fresh-air",
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"apple": "https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?s=143441&mt=2&id=214089682&at=11l79Y&ct=nprdirectory",
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"info": "A live production of NPR and WBUR Boston, in collaboration with stations across the country, Here & Now reflects the fluid world of news as it's happening in the middle of the day, with timely, in-depth news, interviews and conversation. Hosted by Robin Young, Jeremy Hobson and Tonya Mosley.",
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"hidden-brain": {
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"info": "Shankar Vedantam uses science and storytelling to reveal the unconscious patterns that drive human behavior, shape our choices and direct our relationships.",
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"airtime": "SUN 7pm-8pm",
"meta": {
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"source": "NPR"
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"how-i-built-this": {
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"info": "Guy Raz dives into the stories behind some of the world's best known companies. How I Built This weaves a narrative journey about innovators, entrepreneurs and idealists—and the movements they built.",
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"airtime": "SUN 7:30pm-8pm",
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"link": "/radio/program/how-i-built-this",
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"hyphenacion": {
"id": "hyphenacion",
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"tagline": "Where conversation and cultura meet",
"info": "What kind of no sabo word is Hyphenación? For us, it’s about living within a hyphenation. Like being a third-gen Mexican-American from the Texas border now living that Bay Area Chicano life. Like Xorje! Each week we bring together a couple of hyphenated Latinos to talk all about personal life choices: family, careers, relationships, belonging … everything is on the table. ",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2025/03/Hyphenacion_FinalAssets_PodcastTile.png",
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"order": 15
},
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"jerrybrown": {
"id": "jerrybrown",
"title": "The Political Mind of Jerry Brown",
"tagline": "Lessons from a lifetime in politics",
"info": "The Political Mind of Jerry Brown brings listeners the wisdom of the former Governor, Mayor, and presidential candidate. Scott Shafer interviewed Brown for more than 40 hours, covering the former governor's life and half-century in the political game – and Brown has some lessons he'd like to share. ",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/The-Political-Mind-of-Jerry-Brown-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/podcasts/jerrybrown",
"meta": {
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"order": 18
},
"link": "/podcasts/jerrybrown",
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},
"latino-usa": {
"id": "latino-usa",
"title": "Latino USA",
"airtime": "MON 1am-2am, SUN 6pm-7pm",
"info": "Latino USA, the radio journal of news and culture, is the only national, English-language radio program produced from a Latino perspective.",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/04/latinoUsa.jpg",
"officialWebsiteLink": "http://latinousa.org/",
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"link": "/radio/program/latino-usa",
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"apple": "https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?s=143441&mt=2&id=79681317&at=11l79Y&ct=nprdirectory",
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"rss": "https://feeds.npr.org/510016/podcast.xml"
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},
"marketplace": {
"id": "marketplace",
"title": "Marketplace",
"info": "Our flagship program, helmed by Kai Ryssdal, examines what the day in money delivered, through stories, conversations, newsworthy numbers and more. Updated Monday through Friday at about 3:30 p.m. PT.",
"airtime": "MON-FRI 4pm-4:30pm, MON-WED 6:30pm-7pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Marketplace-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.marketplace.org/",
"meta": {
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"source": "American Public Media"
},
"link": "/radio/program/marketplace",
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},
"masters-of-scale": {
"id": "masters-of-scale",
"title": "Masters of Scale",
"info": "Masters of Scale is an original podcast in which LinkedIn co-founder and Greylock Partner Reid Hoffman sets out to describe and prove theories that explain how great entrepreneurs take their companies from zero to a gazillion in ingenious fashion.",
"airtime": "Every other Wednesday June 12 through October 16 at 8pm (repeats Thursdays at 2am)",
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"meta": {
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"source": "WaitWhat"
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"rss": "https://rss.art19.com/masters-of-scale"
}
},
"mindshift": {
"id": "mindshift",
"title": "MindShift",
"tagline": "A podcast about the future of learning and how we raise our kids",
"info": "The MindShift podcast explores the innovations in education that are shaping how kids learn. Hosts Ki Sung and Katrina Schwartz introduce listeners to educators, researchers, parents and students who are developing effective ways to improve how kids learn. We cover topics like how fed-up administrators are developing surprising tactics to deal with classroom disruptions; how listening to podcasts are helping kids develop reading skills; the consequences of overparenting; and why interdisciplinary learning can engage students on all ends of the traditional achievement spectrum. This podcast is part of the MindShift education site, a division of KQED News. KQED is an NPR/PBS member station based in San Francisco. You can also visit the MindShift website for episodes and supplemental blog posts or tweet us \u003ca href=\"https://twitter.com/MindShiftKQED\">@MindShiftKQED\u003c/a> or visit us at \u003ca href=\"/mindshift\">MindShift.KQED.org\u003c/a>",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Mindshift-Podcast-Tile-703x703-1.jpg",
"imageAlt": "KQED MindShift: How We Will Learn",
"officialWebsiteLink": "/mindshift/",
"meta": {
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"source": "kqed",
"order": 12
},
"link": "/podcasts/mindshift",
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vS1FJTkM1NzY0NjAwNDI5",
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}
},
"morning-edition": {
"id": "morning-edition",
"title": "Morning Edition",
"info": "\u003cem>Morning Edition\u003c/em> takes listeners around the country and the world with multi-faceted stories and commentaries every weekday. Hosts Steve Inskeep, David Greene and Rachel Martin bring you the latest breaking news and features to prepare you for the day.",
"airtime": "MON-FRI 3am-9am",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/Morning-Edition-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.npr.org/programs/morning-edition/",
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"link": "/radio/program/morning-edition"
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"onourwatch": {
"id": "onourwatch",
"title": "On Our Watch",
"tagline": "Deeply-reported investigative journalism",
"info": "For decades, the process for how police police themselves has been inconsistent – if not opaque. In some states, like California, these proceedings were completely hidden. After a new police transparency law unsealed scores of internal affairs files, our reporters set out to examine these cases and the shadow world of police discipline. On Our Watch brings listeners into the rooms where officers are questioned and witnesses are interrogated to find out who this system is really protecting. Is it the officers, or the public they've sworn to serve?",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/On-Our-Watch-Podcast-Tile-703x703-1.jpg",
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"officialWebsiteLink": "/podcasts/onourwatch",
"meta": {
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"source": "kqed",
"order": 11
},
"link": "/podcasts/onourwatch",
"subscribe": {
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"google": "https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5ucHIub3JnLzUxMDM2MC9wb2RjYXN0LnhtbD9zYz1nb29nbGVwb2RjYXN0cw",
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},
"on-the-media": {
"id": "on-the-media",
"title": "On The Media",
"info": "Our weekly podcast explores how the media 'sausage' is made, casts an incisive eye on fluctuations in the marketplace of ideas, and examines threats to the freedom of information and expression in America and abroad. For one hour a week, the show tries to lift the veil from the process of \"making media,\" especially news media, because it's through that lens that we see the world and the world sees us",
"airtime": "SUN 2pm-3pm, MON 12am-1am",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/04/onTheMedia.png",
"officialWebsiteLink": "https://www.wnycstudios.org/shows/otm",
"meta": {
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"source": "wnyc"
},
"link": "/radio/program/on-the-media",
"subscribe": {
"apple": "https://itunes.apple.com/us/podcast/on-the-media/id73330715?mt=2",
"tuneIn": "https://tunein.com/radio/On-the-Media-p69/",
"rss": "http://feeds.wnyc.org/onthemedia"
}
},
"pbs-newshour": {
"id": "pbs-newshour",
"title": "PBS NewsHour",
"info": "Analysis, background reports and updates from the PBS NewsHour putting today's news in context.",
"airtime": "MON-FRI 3pm-4pm",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2024/04/PBS-News-Hour-Podcast-Tile-360x360-1.jpg",
"officialWebsiteLink": "https://www.pbs.org/newshour/",
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},
"link": "/radio/program/pbs-newshour",
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"apple": "https://itunes.apple.com/us/podcast/pbs-newshour-full-show/id394432287?mt=2",
"tuneIn": "https://tunein.com/radio/PBS-NewsHour---Full-Show-p425698/",
"rss": "https://www.pbs.org/newshour/feeds/rss/podcasts/show"
}
},
"perspectives": {
"id": "perspectives",
"title": "Perspectives",
"tagline": "KQED's series of daily listener commentaries since 1991",
"info": "KQED's series of daily listener commentaries since 1991.",
"imageSrc": "https://cdn.kqed.org/wp-content/uploads/2025/01/Perspectives_Tile_Final.jpg",
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"officialWebsiteLink": "/perspectives/",
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"source": "kqed",
"order": 14
},
"link": "/perspectives",
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"npr": "https://www.npr.org/podcasts/432309616/perspectives",
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},
"planet-money": {
"id": "planet-money",
"title": "Planet Money",
"info": "The economy explained. Imagine you could call up a friend and say, Meet me at the bar and tell me what's going on with the economy. Now imagine that's actually a fun evening.",
"airtime": "SUN 3pm-4pm",
"imageSrc": "https://ww2.kqed.org/radio/wp-content/uploads/sites/50/2018/04/planetmoney.jpg",
"officialWebsiteLink": "https://www.npr.org/sections/money/",
"meta": {
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"source": "npr"
},
"link": "/radio/program/planet-money",
"subscribe": {
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