There are arguably two high points in life. 1.) Being forced to to spend an hour taking an online multiple-choice quiz in order to qualify for a student loan. 2.) Having to go to traffic school on a Saturday to keep points off a driver's license. Now, right up there with them is what could happen to people who take intellectual property online without permission.
Several Internet service providers are launching a new Copyright Alert System this week to patrol for customers doing illegal downloads. The system will generate an escalating series of warnings. In theory, a user gets six strikes and then a movie, music or software pirate is out.
But what exactly happens on strike six? Harvard Law professor Jonathan Zittrain joins Marketplace Tech host David Brancaccio to explain just that.
India's finance minister has announced plans to set up the country's first ever women only bank. P Chidambaram says he hopes that it will be granted a license by October.
Supporters hope it will help women establish businesses and give them financial independence. But not everyone is a fan.
"No, no. I feel it is a very cheap and meaningless gimmick. I find it very strange. I never felt unsafe in a mixed bank. I do not think its necessary," says Rina Nag, who has spent her life working in a bank.
Women's rights have been at the center of a heated debate in India following the gang rape and murder of a 23-year-old woman in Delhi late last year. The government is hoping that the $200 million it's investing to set up the banks signals a committment to women's issues and helps produce a new generation of Indian businesswomen.
Groupon’s board of directors fired the company’s CEO yesterday. Andrew Mason founded the daily deal site. This is, in many ways, a familiar story.
An ideas man builds up a business, takes it public, and then…
“Some kind of infrastructure is needed,” says James Abruzzo, co-founder of the Institute for Ethical Leadership at Rutgers Business School. “And clearly that was the case here."
The same thing happened to Steve Jobs. Apple’s board forced him out in the mid-1980s. Something similar happened at Yahoo! Jerry Yang started that company, and when he was CEO, he opposed a takeover bid from Microsoft. That was it.
Jeffrey Sonnenfeld, a dean at the Yale School of Management, remembers Polaroid founder Ed Land’s last days as CEO.
“Analysts were saying, ‘How about the bottom line?’ He said, ‘The bottom line is in heaven.’”
Founders who become executives have vision. That’s a given, but management consultant and venture capitalist Peter Cohan argues they can be blinded by that.
“They think, I created this thing. I’m the only one who can run it.”
And the fact is, Cohan says, no one is irreplaceable.
Once again lawmakers are up against a deadline. This time, it looks like they won't strike some sort of deal. That means about $85 billion worth of spending cuts will start to spread across many federal agencies.