Getting Away With It

I'm David. During the day I work in tech. I go out and visit bookstores on the weekends.

Posts tagged #business

Many years ago, back when the dot-com bubble appeared unpoppable, a different friend of mine happened to meet somebody who sheepishly admitted that one of his previous jobs was at a what-we-can-euphemistically-call “adult online entertainment” site, where he was responsible for developing algorithms to determine which customers could safely be double- or even triple-billed.
Duffy is an interesting case,” a music industry lawyer says, “because her story applies to a lot of artists. Buoyed by success, they immediately think, ‘Why am I giving 6% of record royalties, a third of my publishing and a 20% management commission to other people? I am a genius! I will do it myself!’ [Duffy parted company with her manager, Rough Trade’s Jeanette Lee, and with Bernard Butler who produced Rockferry, and co-wrote and played on much of it] And then make a bad record without any guidance from professionals. And then they wonder why it’s all gone wrong.

Or, in her case, she was always just a placeholder for Any Winehouse in the minds of her fans.

When bands fall off cliffs | Music | The Guardian

a one stop shop for the pivoting startup

This memo is great stuff. A clear-eyed appraisal of the market, and Nokia’s place within it. If only all CEOs were so competent with language.

Google has given all of its employees $1,000 cash “holiday bonuses” and 2011 salary increases of at least 10%, a loyal reader tells us.
The 10% company-wide raise will take effect on January 1, 2011.
AOL Inc. and several private-equity firms are exploring making an offer to buy Yahoo Inc., according to people familiar with the matter, devising a bold plan to marry two big Internet brands facing steep challenges.

AOL, Private-Equity Firms Explore Bid for Yahoo - WSJ.com

Wow, two decaying Web 1.0 giants teaming up! This can’t end badly at all, ironic exclamation point!

From the comments: “They’re about to go tits-up?”

Exciting Times at Barnes And Noble

So about three months ago or so, I had a dude come into the store and mention, in that offhand-but-not-really way, that he had a book coming out in a few months, and would be interested in maybe doing a signing or an event or something at the store, perhaps, if we’d have him.

The default response to people asking this, by the way, is a polite, non-committal brush-off. Authors don’t normally set up these sorts of things themselves — that’s what publishers and agents and the like are supposed to be doing with their wining and dining of the nefarious agents of the Home Office in New York. The only people who walk into a store and announce that they’re an author are either crazy or self-published, or both. And we don’t do self-published events.

So I hmm’d and haa’d at him for a few minutes, but the book wasn’t in the system yet, and I told him to come back a little closer to publication, and try and talk to a manager then.

Today, he stopped by the store again. His book comes out tomorrow. And he read off the title, and started talking to my manager about it. Huh, I thought, that sounds familiar. Wasn’t that on a table up here…? I looked; no dice. We were out. I wandered over to a computer and looked it up myself. Yep, it’d come in today, six copies, and… they’d sold out already? What the?!

Then I looked at the ‘sales rank’ figure. It’s a tricky metric; it doesn’t update all that often, and I have no idea if it’s just website sales or also takes into account store sales as well. That said, it’s pretty unambiguous at the top. His book was ranked 16 on the internal system. That can’t be right. I pulled up the website.

I was right; the number was wrong. His book was actually the fifth best-selling book on the website in the last 24 hours.

I walked over to the counter, where he was still talking with my manager. “So, are you the author of It’s Not Just Who You Know?”

“Yeah!”

“Well, let me be the first to congratulate you. Your book is number five on the website.”

“What?” His eyes got big as saucers. “Are you serious?”

“Yeah, it’s right behind Eat Pray Love as a bestseller!”

The manager pulled it up on the screen. He looked, and ran to the front door. “Honey! Come here real quick!” He brought in his wife. “Oh, man, this is awesome!”

“You want to call someone right now, don’t you,” his wife said, grinning as much as he was.

“I mean, I told everyone I knew that the book was coming out, but…!”

So he’ll be doing a signing later this month for sure, and we’ll be ordering a bunch more of the book. Man-hugs all around.

The Better Business Bureau is a piece of shit.

By Geeta Dayal.

The Most Under-Paid CEO in America Is…

Google’s chief executive Eric Schmidt.

That’s according to an algorithm developed by executive pay expert Graef Crystal. In a survey for Bloomberg News that analyzed the compensation of 271 chief executive officers, Crystal concluded that higher shareholder returns did not lead to higher pay or vice versa. Not a huge surprise. But some of the details are interesting.

Brew Dog’s James Watt, left, and Martin Dickie with ‘Sink the Bismarck’ beer, rated at 41% alcoholic content”

Breweries vie to create world’s strongest beer - latimes.com

The world’s number one investment bank concedes that it constructed Abacus 2007-ACI after the mega hedge fund Paulson “indicated its interest in positioning itself for a decline in housing prices”. And it says that Paulson provided “input regarding the composition of the underlying securities” and stood to benefit “from a decline in the value of the underlying securities”.

Also, Goldman doesn’t attempt to deny that those who invested in Abacus may not have know that Paulson would be betting against them, or taking a short position that would impoverish them to Paulson’s considerable benefit.

But Goldman has a defence that deserves to be taken seriously - which is that the firm stuck to the conventions for how such deals should be managed.

BBC - Peston’s Picks: The implications of Goldman’s defence

“Industry-standard practices” never sounded so ominous.