<![CDATA[Valleywag: Fortune]]> http://cache.gawker.com/assets/base/img/thumbs140x140/valleywag.com.png <![CDATA[Valleywag: Fortune]]> http://valleywag.com/tag/fortune http://valleywag.com/tag/fortune <![CDATA[ Fortune ranks Steve Jobs replacement candidates, but we know who it will be already ]]> Apple COO Timothy Cook is the man most likely to replace co-founder and current CEO Steve Jobs according to Fortune.

Cook’s deep knowledge of Apple’s operations and ready command of detail has won him the respect of the board of directors and the investment community. A bachelor with a passion for cycling, he’s as steady and low-key as Jobs is temperamental.

Of course, as any Apple employee will tell you, "steady and low-key" doesn't strike the necessary fear into their hearts like Jobs' legendary tirades.

Jonathan Ive, the wildly talented designer and crowd favorite for the role, is apparently even more soft-spoken, and too shy to carry the yoke of showman that he would inherit. However, secret plans not obtained by Valleywag have revealed Jobs' succession plans: A top secret project begun by Jobs while still at NeXT to take back Apple by force if necessary has been quietly resurrected by Ive, with Apple engineers working only on small parts so as not to reveal the true goal — an indestructable cyborg assassin capable of verbally abusing ten times the employees in a single day while still finding time to ignore his no-longer biologically related daughter.

I, for one, welcome my new Robot Steve Jobs overlords.

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Tue, 24 Jun 2008 16:20:00 PDT Jackson West http://valleywag.com/index.php?op=postcommentfeed&postId=5019377&view=rss&microfeed=true
<![CDATA[ Larry Page says be like Thomas Edison, not Nikola Tesla ]]> larry_page_at_TED.jpgWhile taking risks is valuable, it's only those who can successfully commercialize their breakthrough ideas who will succeed, Google cofounder Larry Page told Fortune in a feature interview.
You also need some leadership skills. You don't want to be Tesla. He was one of the greatest inventors, but it's a sad, sad story. He couldn't commercialize anything, he could barely fund his own research. You'd want to be more like Edison. If you invent something, that doesn't necessarily help anybody. You've got to actually get it into the world; you've got to produce, make money doing it so you can fund it.
In other words, it's not enough to innovate — you need to make a profit, too. Further nuggets of wisdom from the paper billionaire after the jump.

Page points out how many engineers have been hired by Big Oil to find every last drop of crude, calling it "disproportionate to the return that they could get elsewhere." A big proponent of geothermal and solar, he further describes how cleantech investment that has focused on the move from fossil fuels to electricity doesn't solve the root problem of our grid being powered mostly by coal. And in his view, venture capitalists are ten years too late in funding green initiatives:

Look at VC investment in clean energy. What caused that to happen was two things: the price of oil going up and global warming. It's mostly the price of oil going up.
So how does Google plan to stay relevant even as employee rolls balloon into the tens of thousands and the corporate culture begins to stale? By leaving up to ten percent of the company to do what they like, and having faith that the amount of progress will proceed in a linear relationship to the people working on the problem.
I think it's everybody who cares about making progress in the world. Let's say there are 10,000 people working on these things. If we make that 100,000, we'll probably get 10 times the progress.
Fortune is right, Page is certainly optimistic. (Photo by jurvetson)

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Thu, 01 May 2008 16:20:00 PDT Jackson West http://valleywag.com/index.php?op=postcommentfeed&postId=386350&view=rss&microfeed=true
<![CDATA[ Ex-Business 2.0 editor leaves Fortune for Time ]]> Josh QuittnerJosh Quittner, former editor of the defunct Business 2.0, has extricated himself from his unhappy stay at Fortune by returning to Time, where he previously worked. Tellingly, Time editor Rick Stengel refers to him as a "writer" for Fortune, though he had the ostensible title of executive editor. Stengel's memo is included below. Quittner's new gig is his old gig, covering consumer technology, which takes him back roughly 13 years in the progress of his career. Funny, because we'd heard that Quittner had held serious talks with Michael Arrington about joining TechCrunch, around the same time he wrote a laudatory column about the tech blogger. All that puffery, and no job in exchange? A shame.

When I worked for Quittner at Business 2.0, he talked constantly about his long-held dream of going to a startup or launching a blog. That he's now choosing to stay at magazine publisher Time Inc. is useful as an economic indicator. Quittner boosted the Valley's comeback, and the business of blogging, long before other mainstream journalists. That he's turned bearish on both now could be a sign of personal cowardice. Or keen prescience.

April 16, 2008

To: TIME Staff
From: Rick Stengel

I'm delighted to announce that Josh Quittner is coming back to TIME to cover consumer technology with a regular column in the magazine and a daily blog on TIME.com. In his new role as editor-at-large, Josh will apply his singular voice to technology, writing both reviews of new products and features that explain what's most important to consumers in Techland.

Most recently, Josh was the managing editor of Business 2.0 and a writer for FORTUNE. He first had a byline in TIME in 1994 as a staff writer covering technology, back at the very beginning of the internet. He went on to launch "The Netly News," first as a website on Pathfinder and later as a column in the magazine. He subsequently served as editor of TIME.com—twice—as well as tech editor of TIME before moving to San Francisco in 2002 to work for Business 2.0. Prior to coming to Time Inc., Josh worked at Newsday in the early 90s, where he wrote a pioneering column called "Life in Cyberspace."

Josh will continue to work from San Francisco where he lives with his wife, journalist Michelle Slatalla (with whom he has co-written five books) and their three daughters, but I expect he'll be in the New York offices regularly. Josh is a great mind and a great brand to have back at TIME. We're fortunate to have him.


R.S.

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Wed, 16 Apr 2008 08:20:00 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=380415&view=rss&microfeed=true
<![CDATA[ Fortune recycles its Jeff Bezos profile ]]> Jeff Bezos looks forwardThere is only one story ever written about Amazon.com CEO Jeff Bezos: That he has defied the skeptics, has had the last laugh, and is now looking to the future. Fortune's latest iteration of the formula is no exception. It begins with an obligatory near-death experience — in this case, a not-quite-fatal helicopter ride near Bezos's West Texas spaceport. And then, Christlike, the escape from death, the resurrection, and the glory. The glory: A stock price driven up not by technical innovations like Amazon's Web services, but by expanding profit margins, the result of tightened R&D spending. Wall Street, not Bezos, has the last laugh, but that conclusion doesn't fit the formula.

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Tue, 15 Apr 2008 12:20:00 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=380052&view=rss&microfeed=true
<![CDATA[ Fortune columnist fails to disclose Arrington tie ]]> josh-thumb.jpgJosh Quittner, the Fortune executive editor who's reportedly plotting his escape from his gilded cage at the magazine, has written a perfunctory profile of TechCrunch blog impresario Michael Arrington. Nothing we haven't read before — including the obligatory paragraph about Arrington's conflicts of interest in writing about startups even as he invests in them. Quittner observes that the practice seems to boost Arrington's reputation in the Valley. One conflict Quittner never mentions: As editor of Business 2.0, where I worked for him, he tried to strike a deal with Arrington to save the magazine by merging it with TechCrunch. The effort failed, landing Quittner at Fortune.

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Thu, 27 Mar 2008 05:00:00 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=372744&view=rss&microfeed=true
<![CDATA[ Ex-Business 2.0 editor dumping Fortune for housing blog? ]]> Quittner, CaliforniaWhat is Josh Quittner, the former editor of Business 2.0, doing for his next act? Since September, he's had an unhappy career at Fortune, the Time Inc.-owned corporate sibling which took him and a few other refugees from the magazine in. He's been earning what we hear is a mid-six-figures salary playing Scrabulous, and then writing about it. (Actual quote from a recent column: "Clearly, I had too much time on my hands.") The latest I'd heard on Quittner, my former boss, was that he was leaving Fortune to return to Time, where he worked before joining Business 2.0, as its Marin County-based tech correspondent. But he may have another exit strategy in mind. in 2006, Quittner registered roofmagazine.com.

The domain name now points to a blog that's been active since March 10. The writers are "Slatalla" — almost certainly Michelle Slatalla, Quittner's wife — and "Roofie" — presumably Quittner. The prose matches his voice, and the subject fits, since Quittner took an active interest in real estate while at Business 2.0. But real estate is a bread-and-butter subject for Time Inc.'s finance magazines. Josh, rather than starting your own blog, why don't you just apply for a job at Money, run by your former deputy Eric Schurenberg? That seems easier.

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Wed, 26 Mar 2008 15:40:00 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=372655&view=rss&microfeed=true
<![CDATA[ Jim Breyer times his bubble-popping just right ]]> Jim BreyerFortune magazine, ever servile, provides a ready platform for the powerful with something to say. The latest on stage: Jim Breyer, the Accel Partners VC with a seat on Facebook's board. Breyer has a fair point: We may be seeing the cyclical bursting of another Silicon Valley bubble. Breyer says this happens once every seven years, roughly. But his timing is suspicious. Last October, Breyer gladly took Microsoft's bubbly $240 million for a microscopic stake in Facebook. Declaring the bursting of a bubble now may help hasten its advent, and in the process, make it harder for Facebook's rivals to raise money. But for Fortune readers' tech-stock portfolios, an early warning might have been more useful. Why didn't the magazine ring him up last fall? Fortune never mentions this. (Illustration by Sean McCabe for Fortune)

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Wed, 19 Mar 2008 10:40:32 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=369774&view=rss&microfeed=true
<![CDATA[ Jobs lied about cancer diagnosis at Stanford ]]> A further revelation in Peter Elkind's Fortune profile of Apple CEO Steve Jobs: In a June 2005 commencement address at Stanford University, he told students, "About a year ago, I was diagnosed with cancer." Jobs first learned he had a form of pancreatic cancer in October 2003. [Fortune]

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Tue, 04 Mar 2008 17:00:04 PST Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=363865&view=rss&microfeed=true
<![CDATA[ Fortune's cover story: Steve Jobs hid cancer for nine months ]]> From October 2003 through July 2004, Steve Jobs hid the fact that he'd been diagnosed with a form of pancreatic cancer, according to a profile of Jobs in an upcoming issue of Fortune, now posted online. A serious charge: Jobs should have promptly disclosed his health scare to Apple shareholders, since he seems practically irreplaceable as Apple's CEO. (Only now is he admitting to thinking about a successor.) But Jobs's cancer scare is old news to most readers. Why is Fortune bringing it up now?

The author, Peter Elkind, has long been rumored to be working on a damning profile of Jobs, centering on backdated stock options. That Fortune is now leading off its story with Jobs's cancer, not the options scandal, tells us what happened to that story: Elkind couldn't get the goods. This is a cover story in more sense than one. An excerpt, courtesy of Fortune:

THE TROUBLE WITH STEVE

In October 2003, as the computer world buzzed about what cool new gadget he would introduce next, CEO Steve Jobs—then presiding over the most dramatic corporate turnaround in the history of Silicon Valley—found himself confronting a life-and-death decision.

During a routine abdominal scan, doctors had discovered a tumor growing in his pancreas. While a diagnosis of pancreatic cancer is often tantamount to a swiftly executed death sentence, a biopsy revealed that Jobs had a rare—and treatable—form of the disease. If the tumor were surgically removed, Jobs' prognosis would be promising: The vast majority of those who underwent the operation survived at least ten years.

Yet to the horror of the tiny circle of intimates in whom he'd confided, Jobs was considering not having the surgery at all. A Buddhist and vegetarian, the Apple CEO was skeptical of mainstream medicine. Jobs decided to employ alternative methods to treat his pancreatic cancer, hoping to avoid the operation through a special diet—a course of action that hasn't been disclosed until now.

For nine months Jobs pursued this approach, as Apple's board of directors and executive team secretly agonized over the situation—and whether the company needed to disclose anything about its CEO's health to investors. Jobs, after all, was widely viewed as Apple's irreplaceable leader, personally responsible for everything from the creation of the iPod to the selection of the chief in the company cafeteria. News of his illness, especially with an uncertain outcome, would surely send the company's stock reeling. The board decided to say nothing, after seeking advice on its obligations from two outside lawyers, who agreed it could remain silent.

In the end, Jobs had the surgery, on Saturday, July 31, 2004, at Stanford University Medical Center in Palo Alto, near his home. The revelation of his brush with death remained—like everything involving Jobs and Apple—a tightly controlled affair. In fact, nary a word got out until Jobs' tumor had been removed. The next day, in an upbeat e-mail to employees later released to the press, he announced that he had faced a life-threatening illness and was "cured." Jobs assured everyone that he'd be back on the job in September. When trading resumed a day after the announcement, Apple shares fell just 2.4%.

Apple entertained no further questions about Jobs' health, citing the CEO's need for privacy. No one learned just how long Jobs had been sick—or that he had contemplated not having the surgery at all. "It was very traumatic for all of us," recalls one of those in whom Jobs confided, speaking on condition of anonymity because of the topic's sensitivity. "We all really care about Steve, and it was a serious risk for the company as well. It was a very emotional and very difficult time. This was one page in the adventure."

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Tue, 04 Mar 2008 15:00:39 PST Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=363816&view=rss&microfeed=true
<![CDATA[ Fortune's Facebook infomercial ]]>
Before Fortune magazine's little dustup about Facebook's controversial new advertising products, Andy Serwer's court jester, David Kirkpatrick, produced a hardly hard-hitting video on the subject. Just how much of a puff piece was this? Fortune managed to dig up some intercutting shots of a very enthusiastic Facebook user. Recognize her?

The woman in maroon is Facebook PR czar Brandee Barker. Here's what I want to know. Would Barker ever have agreed to being filmed for a video in which reporter Oliver Ryan and Fitzpatrick lay down slams like, "If I got the news that somebody had gone out and bought, say, a BMW 325, that would be great marketing." Or, worse, "[Facebook Beacon] might bring new types of advertisers into the Internet marketplace entirely." Harsh!

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Thu, 20 Dec 2007 07:52:12 PST Nicholas Carlson http://valleywag.com/index.php?op=postcommentfeed&postId=336097&view=rss&microfeed=true
<![CDATA[ Quittner "silenced," says Fortune colleague ]]> Kirkpatrick vs. QuittnerAn extraordinary public slap, rarely seen in the genteel world of magazine publisher Time Inc.: Fortune appears to have momentarily taken executive editor Josh Quittner's Techland blog away from him and handed it to rival tech writer David Kirkpatrick. Quittner's recent blog rant about Facebook's Beacon was wrongheaded enough, but entirely undeserving of this humiliation — republishing, duplicatively, a Fortune.com column by Kirkpatrick in Quittner's blog. Kirkpatrick, left, declared that Quittner, right, had been "silenced" on the Facebook issue. He went on to tear apart, at length, Quittner's argument. All the more shaming, because Kirkpatrick is — how to put this gently? — a laughingstock among his colleagues.

None of them want to say anything, though. Why? By playing the house sycophant, Kirkpatrick takes the pressure off the rest of Fortune's staff to write the bootlicking tech-CEO profiles he's known for — like his recent mash note to Facebook CEO Mark Zuckerberg. Kirkpatrick's probing analysis of Zuckerberg? He's "nice."

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Wed, 05 Dec 2007 17:00:21 PST Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=330555&view=rss&microfeed=true
<![CDATA[ Fortune.com redesign rips off Portfolio.com ]]> Fortune.com — what magazine publisher is calling Fortune's little corner of CNNMoney.com — relaunched today, and the Observer's Media Mob notes the site is "sleeker, whiter, cleaner" but bears a "strikingly" duh-we're-copycats resemblance to Portfolio.com. Whatever, let us know when Forbes.com relaunches with a design inspired by Fake Steve Jobs's Blogger template. In the meantime, here's a Valleywag poll asking you to pick which Web design best helps you forget that no one reads magazines — if you can even tell them apart.

Gawker Media polls require Javascript; if you're viewing this in an RSS reader, click through to view in your Javascript-enabled web browser.

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Wed, 28 Nov 2007 10:30:01 PST Nicholas Carlson http://valleywag.com/index.php?op=postcommentfeed&postId=327451&view=rss&microfeed=true
<![CDATA[ Fortune editor censors Larry and Lucy's wedding date ]]> Which is mightier, the pen or the search engine? On October 19, Fortune editor Andy Serwer blogged a short-lived rumor that Google cofounder Larry Page will marry girlfriend Lucy Southworth on December 7. Short-lived, because the passage about the smooch-prone couple's happy news quickly disappeared from the page:
Wedding Pages: Okay, you may have heard that Larry Page of Google is getting married. A friend of a friend of mine got this information via e-mail. The information did not include the bride's name (Lucy?) nor the location of the wedding. The wedding will be held on the weekend of December 7th. Some guests, depending on their location, will be leaving the evening of December 6th and others will be leaving the morning of December 7th. Guests will have the choice of leaving either the 10th or the 12th. A valid passport will be necessary for the event and it should be valid for more than 6 months after the event. (That last bit is a baffling.) You may remember that Sergey Brin married Anne Wojcicki earlier this year.
None of that shows up on the current version of the post. And the Google cache returns the edited post. Yahoo, however, obliges. (Go figure.) A screenshot of the original post after the jump.

CaptainsBlogCropped.jpg

CaptainsBlogSmall.jpg

We haven't heard back from Serwer yet, so we're left with a host of questions: Did Google demand that Serwer take down the passage, and if so, why did he comply? Did the search engine scrub the older version from its Web cache? And why did CNNMoney, which host's Serwer's blog, not acknowledge the erasure with a correction, if it was wrong, or an editor's note?

For now, all I know is that the next time I see Larry Page on the cover of Fortune, I'm going to think about this incident — and ask myself what Fortune gave up to get him there.

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Wed, 31 Oct 2007 01:20:16 PDT Megan McCarthy http://valleywag.com/index.php?op=postcommentfeed&postId=317085&view=rss&microfeed=true
<![CDATA[ Fortune editor in town to boss ex-B2 staff around ]]> ALEY.jpgRemember former Business 2.0 editor Josh Quittner, whose tech magazine got shut down by parent company Time Inc.? Now an executive editor at Fortune, he outranks, on paper, assistant managing editor Jim Aley — the man he replaced as Business 2.0's editor five years ago. Which makes the following curious: The New York-based Aley, pictured above, is in town this week. Valleywag hears he started off his visit with a breakfast with Quittner. And then Aley met with the remnants of Business 2.0's staff, who now make up Fortune's San Francisco bureau — without Quittner. Remind us again who's in charge here? And if you want your startup written up in Fortune, who's the right guy to schmooze?

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Thu, 25 Oct 2007 13:48:25 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=315238&view=rss&microfeed=true
<![CDATA[ A turnabout for Business 2.0's former boss ]]> Josh QuittnerALEY.jpgTime Inc. has officially announced Business 2.0's closure in an internal memo obtained by Jossip. In it, Time Inc. executive John Squires explains that folding in some of Business 2.0's staff into Fortune will give it "the largest San Francisco bureau of any major business publication." The Wall Street Journal bureau will still be twice its size, but never mind — we assume Squires meant "magazine." No, what's interesting in the memo is what's not said.

Former B2 editor Josh Quittner, left, will get the title of executive editor, and Squires gives props to his tech chops in the memo. But Squires doesn't mention that as such, Quittner will be effectively outranked by his predecessor, Jim Aley, right, who departed B2 abruptly in 2002 to rejoin Fortune after Quittner arrived to take over the magazine. From what we hear, Aley, an assistant managing editor and the director of Fortune's technology coverage, will be the de facto boss of the tech-focused bureau, not Quittner. (Full disclosure: Before joining Valleywag, I worked for both Aley and Quittner at Business 2.0.)

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Wed, 05 Sep 2007 14:11:16 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=296809&view=rss&microfeed=true
<![CDATA[ Business 2.0 staff faces Fortune-ate fate ]]> Fortune 2.0There's no official word on the fate of Business 2.0, the Time Inc.-owned magazine where I used to work. The publication, once fated to shut down after its September issue, is still alive, thanks to a hastily granted extension of life support. The staff is working on the October issue, while higher-ups consider offers to buy the magazine that streamed in after word of its impending demise leaked. But they seem to have resigned themselves to the fate of being absorbed into larger sister publication Fortune, based on this sign: A magazine logo near the entrance has been altered to read "Fortune 2.0."

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Wed, 22 Aug 2007 17:12:53 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=292511&view=rss&microfeed=true
<![CDATA[ Fortune parties while Business 2.0 burns ]]> Business 2.0's stormFortune's summer party, scheduled for today, has been postponed, ostensibly for weather reasons, as New York is under siege from a nor'easter. With sister publication Business 2.0 on the rocks, it might have been seemly to cancel it altogether. We've learned, however, that the all-day shindig has been rescheduled for tomorrow. So, as Fortune staffers party, Business 2.0 employees will continue huddling under a storm of their own. Rumors, true and false, are flying. (I should note that I'm covering this as a former Business 2.0 editor who worked at the magazine for seven years — but events are moving so fast that all of this comes from new reporting since I left, not any knowledge I acquired on the job.) Here's what I know, and what I don't know, so far:

The magazine is definitely shutting. Unconfirmed. The official line: Nothing's decided yet. Insiders, however, are behaving as if it's true. Freelancers have been told not to bother pitching stories for October and staffers are actively looking for other jobs. On the other hand, editor Josh Quittner is actively watching the "Save Business 2.0" Facebook group, which now has more than 1,500 members, including some high up in the Time-Life Building.

Even the September issue's not coming out. False. The paper's already bought, the printing plant's already booked, and subscribers are owed issues. Time Inc. wouldn't save any money by not printing it.

The vultures are descending. True. We hear Wired, Business 2.0's crosstown rival, has been trying to recruit from the magazine's ranks, as have other publications trying to staff up to cover the tech boom. Fortune, meanwhile, is hoping to retain some B2ers in the event of a closure to bolster its tech-reporting ranks. There's not, however, a definite list of B2 staffers Time Inc. intends to retain.

The office will be vacated August 3. False. Time Inc. has leased Business 2.0's offices at One California Street through 2010. Not clear, however, who will be occupying those offices. Some think it might make sense to put Time Inc. salespeople into the plusher digs at One California and move the journalists to Time Inc.'s drab cubicles in the nearby Embarcadero Center building.

Offers are coming in to buy the magazine. True. Since the Times published its article last week about B2's impending doom, more than a dozen potential buyers have expressed interest, some of them the predictable bargain-hunters but some respectable sorts. But Time Inc. management is in a no-win situation. If they sell Business 2.0 for a song, and someone else succeeds with the magazine, then they risk looking doubly stupid: First, for spending $68 million on the magazine back in 2001. And second, for not being able to turn a profit with it. For that reason alone, Time Inc.'s more likely to close B2 than sell it.

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Mon, 23 Jul 2007 13:58:06 PDT Owen Thomas http://valleywag.com/index.php?op=postcommentfeed&postId=281535&view=rss&microfeed=true
<![CDATA[ Fortune editor David Kirkpatrick catches ... ]]> David Kirkpatrick catches a clue, says he won't use the silly iMeme name for next year's conference. [The Sam Whitmore Sampler] ]]> Fri, 13 Jul 2007 16:10:37 PDT Megan McCarthy http://valleywag.com/index.php?op=postcommentfeed&postId=278417&view=rss&microfeed=true <![CDATA[ Everything you need to know about the VC ... ]]> Jim Breyer wore a CBGB shirt!) [Barrons] ]]> Fri, 13 Jul 2007 15:50:13 PDT Megan McCarthy http://valleywag.com/index.php?op=postcommentfeed&postId=278409&view=rss&microfeed=true <![CDATA[ Today's Fortune iMeme confab in San Francisco ... ]]> SFGate] ]]> Thu, 12 Jul 2007 16:47:14 PDT Megan McCarthy http://valleywag.com/index.php?op=postcommentfeed&postId=277976&view=rss&microfeed=true <![CDATA[ Scoop: Fortune Magazine taps new managing editor ]]> Wheel of Fortune - ValleywagFortune Magazine dumped managing editor Eric Pooley today, replacing him with Fortune writer and CNN anchor Andy Serwer, according to an all-hands e-mail sent to Time Inc. staff under an hour ago and obtained by Valleywag.

Here's the entire e-mail. For more on the story, read the Romenesko article at Poynter Online.


To: Time Inc. Staff
From: John Huey
Re: Staff Announcement

I am pleased to announce the appointment of Andy Serwer as managing editor of FORTUNE.

We all know that the world of business journalism has increasingly become a multi-media proposition, involving not only the magazine but its brand representations on the internet, on television and radio, wherever the reader wants his or her information. And no one is more qualified to lead FORTUNE on those multiple fields of battle than Andy.

He joined FORTUNE in 1985 as an intern from the Columbia Journalism School, and went on to become one of its most insightful, popular and productive writers. His work has ranged from his provocative column in every issue to major cover stories on everything from the young Michael Dell to Michael Price ("The Toughest S.O.B. on Wall Street") to the business of the Rolling Stones to the first look inside the financial and philanthropic workings of America's richest family, the Waltons.

Andy became one of our first internet stars nine years ago with his popular Street Life column. And in his spare time, Andy has also been the very successful business anchor of CNN's American Morning news show. He will continue to have an on air presence on CNN. No matter what project Andy takes on, he handles it with intelligence, wit and energy.

It is also safe to say that no journalist knows today's business story better than Andy Serwer. I am confident that he will bring his knowledge of both the story and the multimedia landscape to the helm of FORTUNE in exciting ways that will work to its great advantage in the future.

Andy is lucky to succeed Eric Pooley, who came to FORTUNE because of his very strong journalistic skills and storytelling abilities. He has delivered on those strengths in ways that have greatly enhanced the magazine and positioned it well for the future. He has made excellent hires, sharpened the magazine's coverage, updated its design, created new departments and lively new franchise issues, and shepherded great investigative tales, including the current cover story on the high drama behind Milberg Weiss's legal nightmare.

Eric, who previously edited Time Europe and before that was Chief Political Correspondent and Nation Editor of Time, is leaving FORTUNE and will be working with me and Jim Kelly on an assignment that plays to his strengths in investigative journalism.

Please join me in wishing both Eric and Andy well.

J. H.

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Tue, 31 Oct 2006 09:27:48 PST Nick Douglas http://valleywag.com/index.php?op=postcommentfeed&postId=211350&view=rss&microfeed=true
<![CDATA[ Google Bitch #3: Publisher's Weakly ]]> books-shelf.jpgShould we really add commentary to the story of Google Bitch #3, the third "victim" from Fortune Small Business's new Google trend piece? Small-press publisher Lynne Rienner is pissed at the idea of Google digitizing the books she publishes, letting people search through them and possibly buy them.

Google stresses that any publisher can keep its books from being digitized simply by sending a list of titles to Google. But that's not good enough for Lynne Rienner...

Rather than compiling a list of her company's 1,200 titles ("a waste of my staff's time"), Rienner fired off an angry letter to CEO Schmidt. Google responded with a letter agreeing not to copy any of her books. Rienner is unmollified. She worries that she will be cut out of some future digital moneymaking opportunity. "Books are my unique content," she says. "I'm sure the smart people at Google are busy dreaming up all kinds of ways to make money off them."

Can we just say, "Oh my god, Magnum!" Repeat after us, Ms. Rienner: "Google could sell my authors' books for me." I hope none of Rienner's signed authors read that article; they might realize that she just cut them out of the only free marketing they'll ever get.

How Google can make - or break - your company [Fortune Small Business]
Earlier: Google Bitch #2: The Wispy Web Startup [Valleywag]
Earlier: Google Bitch #1: The Clueless Retailer [Valleywag]

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Wed, 23 Aug 2006 15:13:41 PDT Nick Douglas http://valleywag.com/index.php?op=postcommentfeed&postId=196235&view=rss&microfeed=true
<![CDATA[ Google Bitch #2: The Wispy Web Startup ]]> mike-landis.jpgIt's a brave new world, says Fortune Small Business as it moves to Google "victim" #2. This Google Bitch has a more valid complaint than Google Bitch #1. Mike Landis sells site analytics software that now competes with Google Analytics.

Damn, don't you wish you got into Fortune every time you got a competitor? The magazine does a great job building Google as a bully, saying the company "makes no apologies for crushing small competitors."

Of course, by "crushing," Fortune means "launching a product similar to, but clearly less finessed than, and with shakier tech support." Landis's company, Mach5, may be complaining; meanwhile, leading analytics company Sitemeter is doing just fine despite the competition.

What did we learn from Google Bitch #2? If you can't take the heat, get out and stop bitchin'.

How Google can make - or break - your company [Fortune Small Business]
Earlier: Google Bitches Day: Celebrating "victims" of the world's biggest search company [Valleywag]

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Wed, 23 Aug 2006 14:53:30 PDT Nick Douglas http://valleywag.com/index.php?op=postcommentfeed&postId=196224&view=rss&microfeed=true
<![CDATA[ Where my geeks at? ]]> Runners - ValleywagSo Philip Kaplan's no longer running AdBrite — I think we established that. Where are all the other geeks moving?

  • Bloglines founder Mark Fletcher is leaving the RSS reader and diving into the conference scene. You'll probably — ugh — see him on a panel soon. [Personal blog]
  • Brent Woodward is headed to prison. The exec from San Jose hardware company Lightwave Microsystems got two years for selling a backup tape full of his employer's trade secrets, joining the throngs of guys throughout history who got in trouble for indiscreet mix tapes. [Mercury News]
  • Chicago-based superstar dev house 37signals is getting shot for an Apple Pro profile video (part of a series about sexy people using Apple stuff). [IM tip]
  • And according to a Time Inc. press release, one of Wired's senior editors is moving to Fortune. Everybody else getting booted in the Wired staff shuffle had best get their game plans straight. [E-mail]
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Wed, 07 Jun 2006 08:30:00 PDT Nick Douglas http://valleywag.com/index.php?op=postcommentfeed&postId=178938&view=rss&microfeed=true
<![CDATA[ Buy the bubble: Fortune's Web 2.0 investment guide ]]> Fortune - ValleywagApparently there is a new boom (not a bubble! not a bubble!) in the Valley. I WAS NOT PREVIOUSLY AWARE. Fortune hands down its mighty investment wisdom for the Web 2.0 boom:

  • Gee, Google's stock sure does fluctuate!
  • "If the company can improve in search [...] the potential upside is dramatic." That's right! If Yahoo does its business better, it could earn more money! Are you taking notes?
  • If Facebook went public, it might be a tad overpriced.
  • Some companies make money without looking trendy.
  • Akamai, which jumped to $345 in the 2000 and sank to 56 cents, is back up, trading at a 44 price/earnings ratio — wait, no, the bubble IS back.
  • Comcast sucks. Buy it.
  • Rupert Murdoch is a clever dude.
  • Okay, go buy mutual funds. Pussy.
  • So the trick here, the secret investor tip, is "Buy low, sell high." Seriously, why aren't we charging for this advice?

The boom is back [Fortune]

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Thu, 20 Apr 2006 11:33:50 PDT ndouglas http://valleywag.com/index.php?op=postcommentfeed&postId=168588&view=rss&microfeed=true
<![CDATA[ How Bill Gates works ]]> gates-paper.jpgNo, not "fueled by the blood of those he has devoured." Bill Gates shows Fortune Magazine how he gets stuff done. Some highlights about the elder statesman of the software world:

¬ One desktop is not enough for the might man. Bill uses three on his Dell.
¬ A personal assistant to filter non-contacts keeps his inbox to 100 e-mails a day.
¬ He calls the little notification box Outlook (or Gmail) uses, "the toast." Cute!
¬ Apparently, he's reinvented the wiki and named it SharePoint.
¬ As noted in Fortune's caption, Bill doesn't use much paper. Shocking!
¬ He wants to get a digital whiteboard. So now you know what to buy Bill for his birthday.

How I Work: Bill Gates [Fortune]

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Tue, 04 Apr 2006 14:04:42 PDT ndouglas http://valleywag.com/index.php?op=postcommentfeed&postId=165083&view=rss&microfeed=true
<![CDATA[ Please don't give him weapons ]]> Fortune headlines its Ballmer interview:

As opposed to just being offensive.

The sleeping giant goes on the offensive [Fortune]

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Wed, 29 Mar 2006 23:14:09 PST ndouglas http://valleywag.com/index.php?op=postcommentfeed&postId=163944&view=rss&microfeed=true
<![CDATA[ Work-life balance is for pussies ]]> fortune-dilbert.pngNow this is ridiculous. Fortune Magazine lists Yahoo and Microsoft in its list of "100 Best Companies to Work For". But no Google. Do the 18 massage therapists at the Googleplex count for nothing? Even more ludicrous: Fortune assigns weighting to work-life balance, a measure by which Google presumably scores poorly. As if anyone cares about balance in an up market. I always thought, in Silicon Valley, work-life balance was a polite term for unemployment.

100 Best Companies to Work For [Fortune]

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Mon, 30 Jan 2006 13:49:22 PST ndouglas http://valleywag.com/index.php?op=postcommentfeed&postId=151621&view=rss&microfeed=true