advertisement Last seen paying kids to drop out of college and starting his own private island nation, PayPal founder Peter Thiel has announced a new philanthropic venture that sounds a little more reasonable. Breakout Labs, Thiel said at a speech at Stanford, would grant $50,000 to $350,000 in funding to “entrepreneurial” scientists–those completely independent of typical research institutions–for very early projects that may even be pre-proof of concept. Some of the money must be paid forward through revenue-sharing agreements with Breakout Labs, and the scientists must pursue patents or publish their findings in open-access journals like PLoS, Creative Commons-style. We’re increasingly living in an age of DIY biology, home gene splicing, and garage-based legions of alternative energy inventors. The Thiel Foundation told Fast Company that they expect grantees to be drawn from (sometimes, it seems, perpetually) cutting-edge fields They’re … [Read more...] about Peter Thiel’s Latest Project: Funding For DIY Garage Scientists
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In the week gone by, a slew of fast moving consumer goods (FMCG) companies reported its first quarter results. The week kick started with Godrej Consumer Products (GCPL) reporting quarterly numbers, followed by Dabur, Marico and Nestle.All companies posted profit in the first quarter of the FY19. Godrej Consumer Products ruled the roost as the company reported the highest year-on-year rise of 80 percent in net profit.Its consolidated net profit for the June quarter rose 80 percent on-year to Rs 405 crore driven by a favourable base and expansion in operating margin led by aggressive cost control measures.Close For three quarters on a trot, double-digit volume growth of fast moving consumer goods companies has been fuelled by rural India. It was a similar story for all the four companies that have witnessed steady volume-led growth for the last four quarters. As the base effect fades and rising raw material cost warrants a price hike, topline … [Read more...] about This week in FMCG: Most companies post profits in Q1 on low base
I doodle a quick sketch on my iPhone. I hit a button, and it’s floating in front of me as a bright pink Post-it. I grab the note, then toss it 15 feet where it sticks to the wall next to a giant mood board of images and notes. My colleagues–one real, one a hologram beaming here from 2,000 miles away–nod in approval, as I’ve taken them both by surprise. advertisement advertisement “I didn’t even tell you how to do that!” says Jinha Lee, from underneath his Microsoft Hololens headset. I’d just spoiled one of the best bits of Lee’s demo all by myself. But that’s how good Spatial, the new augmented reality conference room app he’s developing, is. You stop thinking that you’re wearing bulky AR hardware, you stop considering the things you can or can’t do–and you just do what comes naturally. Spatial should be the worst kind of startup. It’s just coming out of two years of stealth development … [Read more...] about Video conferencing sucks. Could “augmented” meetings replace it?
Paul Volcker, the towering former Federal Reserve chairman who tamed US inflation in the 1980s and decades later inspired tough Wall Street reforms in the wake of the global financial crisis, died on December 9 at the age of 92, according to the New York Times, which quoted his daughter.Volcker, who media reports said had been suffering from prostate cancer, was the first to bring celebrity status to the job of US central banker, serving as chairman of the Federal Reserve from 1979 to 1987. As with the man who succeeded him, Alan Greenspan, Volcker could soothe or excite financial markets with just a vague murmur.In 2018 he published a memoir, "Keeping at It: The Quest for Sound Money and Good Government," and expressed concern about the direction of the federal government and the loss of respect for it.Close "The central issue is we're developing into a plutocracy," he told the New York Times in October 2018. "We've got an enormous number of enormously rich people that have … [Read more...] about Former Fed Chief Paul Volcker, inflation tamer, dead at 92: Report