HS in Georgia issued 5-day suspension but lifted punishment after family objected.
New study tries to optimize the restrictions that keep further waves at bay.
Some of the world's most well-known private companies have lost value since the pandemic's start, according to their mutual-fund backers, securities filings show.
Even before the pandemic hit, a survey of venture capitalists found that a majority believed unicorns were "significantly" overvalued.
Bankers and valuation experts see a potential quick fix to falling valuations: SPACs, which have taken Wall Street by storm over the last month.
Visit Business Insider's homepage for more stories.
Palantir, Airbnb, WeWork, and Sweetgreen have all had their valuations cut in recent months by the biggest asset managers in the world.
While some of the cuts may have been tied to pandemic-specific developments like a plunge in global travel, some market-watchers say it was time for private valuations to come back down to earth anyway.
BlackRock cut its valuation of its stake in billionaire Peter Thiel's Palantir's by nearly 10% from the end of last September to the end of March, according to securities filings. Airbnb, meanwhile, was devalued by Principal Global Investors by 20% from the end of March to the end of June — after Principal had already cut the startup's worth by 30% in March alone.
WeWork and Sweetgreen have also been devalued, by Fidelity and Franklin Templeton, respectively as the global coronavirus pandemic has emptied offices and shuttered restaurants.
WeWork's valuation took the largest hit, with Fidelity valuing the coworking giant at 55% less at the end of July than what it did at the end of March. Sweetgreen meanwhile was valued at roughly 8% less by Franklin Templeton at the end of April than what it was last fall.
WeWork, Palantir, Airbnb, and the asset managers declined to comment. Sweetgreen did not respond to a request for comment.
See more: Investors' usual way of valuing companies is under scrutiny— and it could mean the end of the unprofitable unicorns that dominated in the last decade
Venture capitalists were already second-guessing themselves before the pandemic exploded. A survey of VCs published in January's Journal of Financial Economics found that 90% of investors believed unicorns are overvalued, with a majority saying these private companies are "significantly" overvalued.
"Uneven performance of unicorns as they go public suggest valuations are full," wrote Morgan Stanley analysts, speaking generally about the market in recent years in a Tuesday note that cited the study.
Despite the pandemic, broadly speaking, valuations, particularly for companies going public, "haven't fallen off a cliff," said Wayne Kawarabayashi, the head of M&A at tech-focused investment bank Union Square Advisors.
He said the coming months present multiple variables that could shift valuations, including US elections, the US-China tariff war, and a potential second wave of the pandemic.
But add in a private market that is maturing slowly and early investors growing desperate for liquidity in a possible recession, and the expanding unicorn market of last year begins to the look like the peak.
"The private market due to COVID and WeWork dislocations has been forced to mature," said Omeed Malik, founder and CEO of Farvahar Partners, which advises several unicorns on what to do next.
"You're not on top of a frothy market like you were 7-8 months ago."
Malik was previously an executive at Bank of America before being fired for what was characterized by the bank as harassment; Malik sued over defamation and discrimination, and received an undisclosed, multi-million-dollar settlement from the bank.
'Opportune time' to bet against unicorns
Natalie Hwang has been in the venture game for years, making bets on private companies like scooter startup Bird while she ran the investing arm of Simon Property Group. Now she's looking to bet against them.
Hwang's Apeira Capital, for which she hopes to raise $200 million, will take traditional venture bets on companies she finds promising in the distribution space, but she will also bet against startups she believes are overvalued.
"We can counter irrational, exuberant pricing in the market," she said.
"I think there's a potential for a big comedown. It's an opportune time to be launching this strategy."
Hwang, who previously worked at Blackstone, will target companies with valuations at $2 billion or above that she believes will lose 50% of its value over two to four years. Details around how she will execute short positions on private companies are somewhat hazy, though she told Business Insider that she has created a "customized construct" that took years to develop so she could create what she calls "valuation arbitrage."
"The goal is to expand the payoff structure of venture," she said.
SPACs save the day?
While valuations have decreased, bankers are still hesitant to call it a buyer's market — and a new financial engineering craze might offer an olive branch to some flailing unicorns.
SPACs, which stands for special purpose acquisition company, have exploded in popularity this year, with names like hedge-fund billionaire Bill Ackman and baseball executive Billy Beane headlining some new offerings. With billions ready to be deployed in a set period of time, SPACs may target unicorns — and potentially start a bidding war amongst themselves.
In Ackman's filing, he said his SPAC would target "mature unicorns" that are squeezed for more funding options and liquidity with a bevvy of late-stage investors looking to cash out.
See more: What's a SPAC? Inside the unstoppable rise of 'blank-check companies,' the IPO alternative that startups and VCs are piling into.
SPACs offer companies a quicker exit strategy than the traditional IPO. SPACs have raised more than $21 billion, up 145% from this time last year, per Goldman Sachs research. Drawbacks include higher fees than direct listings, the chance for, like an IPO, a first-day price pop, and uncertainty for SPAC investors about the eventual target company.
"It creates another avenue for liquidity," said Mark Zyla, managing director of Zyla Valuation Advisors.
"The more avenues there are for liquidity … the more the valuation increases."SEE ALSO: Some large Airbnb investors have slashed their internal valuations of the company by more than 30% as the pandemic halts travel
SEE ALSO: UBS has started pitching its wealth management customers on 'blank-check' companies as the bank looks to tap into a SPAC frenzy
SEE ALSO: Investors' usual way of valuing companies is under scrutiny— and it could mean the end of the unprofitable unicorns that dominated in the last decade
Join the conversation about this story » NOW WATCH: Why electric planes haven't taken off yet
The new Sony WH-1000XM4 headphones will launch in India in September, not much later than the global announcement.
It's been quite a week for Android — a week of two very different, equally important new narratives. And while the stories appear to be wholly about hardware, the tales actually tell us a lot about the state of the Android ecosystem and the philosophies of two of its most influential players.On Monday, Google announced its first new self-made phone of the year — the long awaited (and long delayed) Pixel 4a. The device costs $349 and is a decidedly utilitarian, midrange model that's about as far from flashy as a phone can be.To read this article in full, please click here
Just updated: Here's the retail status of the $200 portable version of Nintendo's hot gaming console.
Even though we are still in the middle of summer, the kids and students are already starting to look out for the return to the ...
The post Back to School software deals available on Keysoff appeared first on Gizchina.com.
The Pixel 4A raises the bar for how good a budget phone's camera can be.
Some gems are coming out this month, including a new Madden game
TLDR: Speechify Audio Reader can magically help you read more by turning any text into spoken audio you can listen to anywhere. Audiobooks are a godsend for people who love to read, yet feel like they can never find the time to actually crack a book. And that doesn’t even consider the time saved when you listen to a book rather than read it, especially if you listen at 1.5 or 2 times speed. So what if you could turn virtually everything you currently want or need to read into an audiobook or a podcast? Instead of saving documents, newspaper… This story continues at The Next Web
This should have been started a year ago, Solihull council docs say Solihull Metropolitan Borough Council, responsible for administering the sleepy suburban cul-de-sac just south of Birmingham, England, has awarded a £1.6m contract to an ERP systems integrator.…
Furiosa is iconic for a number of reasons, but part of it is definitely her look.
Facebook's advertising revenue will only grow by 10% through October, the company predicted Thursday.
That's down from 17% in the first quarter thanks to a litany of impacts, including a high-profile advertiser boycott.
Major spenders including Walmart, Coca-Cola, and Starbucks stopped buying Facebook ads earlier this year in protest of hate speech on the platform.
Visit Business Insider's homepage for more stories.
Facebook's advertising revenue growth is slowing dramatically, but executives were quick to dismiss any notion that the headline-grabbing boycott by would-be buyers is behind the plateau.
In its second-quarter earnings report Thursday, the social network reported its ad revenue growth had declined to 10% year-over-year in July, something it expects to continue through October. That's a big slump from growth rates as high as 17% year over year in the first quarter — but the company lumped any effects from major advertisers' pausing of large campaigns in with three other major headwinds.
Specifically, Facebook blamed "continued macroeconomic uncertainty" alongside a slowdown in the initial usership surge from coronavirus lockdowns, California regulations, and the boycotts for the advertising slowdown. Many large companies — including Walmart, McDonalds, Geico, Disney, and more — have slashed their planned spending on Facebook, though many of the announcements came during the third quarter, meaning the impact won't be fully disclosed until at least October.
On a conference call with investors and analysts, Facebook executives sought to quell fears that the boycott could have a negative impact on the company's financials.
"It's an interesting situation we find ourselves in because I think oftentimes when companies are boycotted, it's because they don't agree with what the boycotters want," COO Sheryl Sandberg said. "That's not true at all here. We completely agree that we don't want hate on our platforms, and we stand firmly against it. We don't benefit from hate speech. We never have. Users don't want to see it. Advertisers don't want to be associated with it. And we've been working for a really long time to get better at finding it."
She also said that Facebook is working with outside organizations to perform a "brand safety audit" that it hopes to release by the end of the third quarter.
That promise did not go over well with civil-rights groups, who met with Sandberg and Zuckerberg in early July and came away frustrated, characterizing the meeting as a "disappointment" and saying it showed Facebook "is not yet ready to address the vitriolic hate on their platform."
Facebook only partially addressed hiring a civil-rights expert and "offered no attempt" to address the other demands, the groups said. "We didn't get commitments or time frames or clear outcomes. We expected specifics, and that's not what we heard," Anti-Defamation League CEO Jonathan Greenblatt said on a call with reporters.
But Wall Street analysts say the sheer breadth of the Facebook advertiser base can also mitigate the impact from specific defectors.
"With 9 million+ advertisers on the platform, we do not believe the ads boycott will have a major impact," JPMorgan analyst Doug Anmuth said Friday. "Overall, we expect upside to 3Q numbers as marketers ramp up unallocated ad spend in 2H."
Facebook's stock price surged more than 7% in trading Friday following the earnings beat. Shares have easily outpaced market indices amid the coronavirus-induced recession, and are up 20% since the beginning of the year.
Additional reporting by Tyler Sonnemaker.Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
Welcome to TNW Basics, a collection of tips, guides, and advice on how to easily get the most out of your gadgets, apps, and other stuff. If you’re a writer, blogger, or any other kind of online content creator, you can’t get around it: numbers. You simply can’t hold yourself back from wanting to know how many people consumed your creation, be it pageviews or video views. But there’s another type of number, perhaps even more addictive, which is being formed independent from the publishing platform. It’s the chatter around your content, taking place on social media like Facebook, Twitter,… This story continues at The Next Web
Nubia is building up for the launch of its Red Magic 5S with teasers on Weibo. Alongside the gaming smartphone, the company was expected to ...
The post Nubia Watch with flexible display gets more teasers appeared first on Gizchina.com.
During their time in the spotlight, the five original members of One Direction were never far away from the headlines, although it hasn’t always been for the right reasons.Originally formed on The X Factor in 2010, it didn’t take long before Harry Styles, Liam Payne, Louis Tomlinson, Niall Horan and Zayn Malik were global stars, racking up number one hits and selling out shows all over the world.However, the road to superstardom is often a rocky one, and 1D were no exception to this, repeatedly finding themselves in hot water for a number of reasons during their time as a band.On the 10th anniversary of One Direction’s formation, we’re looking back at some of the group’s most controversial moments...The band’s feud with The WantedIn the early years of One Direction, the band and their short-lived rivals The Wanted had a long-standing feud, which peaked when Zayn branded lead singer, Max George, “chlamydia boy” during a heated Twitter row.Eventually Jay McGuiness stepped in, urging Louis Tomlinson and Zayn to “stop mentioning us in your gigs”, adding: “We certainly no longer mention you and it’s time to let dead dogs lie.”Louis and The Wanted’s Tom Parker previously clashed after the latter sent an unpleasant tweet implying that the former is gay, tweeting: “I’ll enjoy the press even more when you come clean #narnia #itgetsbetter” Liam Payne gets on the wrong side of staff at the Empire State BuildingIn 2012, Liam paid a visit to the Empire State Building, but it seems his trip to the New York landmark wasn’t a smooth one.“Just been to the Empire State Building had a great time except the security detail in particular the senior security supervisor was arrogant, unproffesional and extreamly disrespectful to my family,” Liam tweeted, adding the hashtag #TheresAlwaysTimeForManors (sic).However, a post on the Empire State Building’s Twitter page accused Liam of “bad behaviour”, claiming: “No, our security does not know who you are, and does not care.”Following their response, Liam then posted an apology, writing: “I would like to formally apologise to the Empire State Building security team and its owners for our misunderstanding the other night.“I didn’t mean to cause anyone any problems and hope that I can come back again for a visit again in the future.”But that’s not the only time Liam has sparked controversy from a great height Liam was forced to apologise to fans over this photo, posted in 2014, which showed him standing on a window ledge, overlooking East London.He tweeted: “You may have seen a photo of me today taken on top of a building. I regret being there and having the photo taken. “It was a stupid and irresponsible thing to do. I am sorry...”Sidenote: Phone cameras have really come a long way since 2014, right? That infamous “joint” videoTaking the heat off Liam and his rooftop somewhat, the world’s eyes were on Zayn and Louis later in 2014, when a video surfaced online, showing the twosome smoking a dodgy-looking cigarette.In the video, Louis was heard saying to the camera: “So here we are, leaving Peru. Joint lit. Happy days!”He could also be heard joking that “Mary J” is “one very very important factor of Zayn’s warm up”. Both Louis and Zayn remained tight-lipped on the clip at the time, but Liam did eventually apologise on behalf of his bandmates, tweeting: “I love my boys and maybe things have gone a little sideways I apologise for that. We are only in our 20′s we all do stupid things at this age.”Louis clashes with Zayn after he quits the bandThey might have been BFFs when they were still in One Direction, but once Zayn was gone from the group, he and Louis fell out spectacularly on Twitter, over music producer Naughty Boy.During their tense exchange, Zayn publicly told Louis to “stop bitching”, writing to him publicly: “Remember when you had a life and stopped making bitchy comments about mine?”The two were later reported to have made up, but when Zayn fell out with Calvin Harris, Louis made it clear he was on the DJ’s side by liking one of his tweets.Years later, Louis claimed that he and Zayn had buried the hatchet, revealing it was his late mum’s dying wish for the two to make amends.Miley Cyrus hints at MTV awards fix At the MTV Video Music Awards in 2013, Miley Cyrus captured the whole world’s attention with her performance of We Can’t Stop, which saw her grinding up against Robin Thicke, sporting a flesh-coloured outfit and an enormous foam finger.But what’s sometimes forgotten is that this was also the year that Miley stormed out of the VMAs before the end, unhappy with the result of the Song Of The Summer category.Hinting on Twitter that something shady may be afoot, she wrote: “Leaving the VMAs. No it’s not over. I’m no psychic but congrats [to One direction] #songofthesummer”Call her Mystic Meg, because 1D only went and won, didn’t they? We’re sure it was just a coincidence, though...Louis Tomlinson gets the wrong end of the stick Fucking ridiculous I even have to tweet that shit !— Louis Tomlinson (@Louis_Tomlinson) November 10, 2014After a journalist for The Independent noticed that Louis was sporting a t-shirt with the Apple logo on, but emblazoned in rainbow colours, she speculated it might be a mark of solidarity with the company’s CEO, who had recently come out as gay.Unfortunately, Louis totally misread the situation, and took it as a suggestion that he himself was gay, tweeting the journalist directly and writing: “The fact that you work for such a ‘credible’ paper and you would talk such rubbish is laughable. I am in fact straight... Fucking ridiculous I even have to tweet that shit!”Well, Louis. It turns out you didn’t actually have to at all.Harry takes heat after posing in a Native American headdress Many of Harry’s Instagram followers were not impressed with this photo, which shows him sporting a traditional Native American headdress.After the controversy, the photo was deleted from his social media accounts.Zayn receives death threats over #FreePalestine tweet#FreePalestine.— zayn (@zaynmalik) July 28, 2014In 2014, Billboard reported that Zayn had received a “barrage” of death threats after sharing the above tweet to his 13 million followers (a figure which has more than doubled in the time since).They also pointed out that Zayn had kept his tweet up despite the threats, and it remains active almost six years later.Niall Horan apologises after branding a group of fans a “shower of c***s”Many were surprised in 2012, when a video surfaced showing Niall greeting fans at Dublin airport with the unusual salutation of: “You shower of c***s.”Although that sounds bad on paper, Niall did wish the same fans a happy birthday in the video, and later insisted his comments were “just banter”, tweeting: “Really sorry if I caused any offence. It was just banter with fans who I think of more as mates. But I understand that it’s not a word I should be using at all.”Hayley Williams accuses One Direction of copying New Found GloryA number of hits from the One Direction back catalogue have prompted music fans to get a sense of déjà vu (including Live While We’re Young, Best Song Ever and What Makes You Beautiful), but when the group unveiled their single Steal My Girl, Hayley Williams couldn’t help but point out its resemblance to another song.The Paramore singer tweeted: ”[The] beginning of that new 1D song couldn’t sound any more like the beginning of @newfoundglory’s “its not your fault” but...”Some critics also took issue with the lyrics of Steal My Girl, suggesting lyrics like “she belongs to me” were “anti-feminist”.Louis Tomlinson’s pal upsets animal rights activistsThis behind-the-scenes snap from the Steal My Girl video rubbed many animal rights activists up the wrong way, who were angered that the group had a chained monkey on the set of their music video.Although a 1D spokesperson was adamant that no animals were harmed while making the video, UK-based charity Wild Futures called for the video to be pulled altogether.READ MORE:
Story Of Their Life: 1D Fans On Ten Years Of Fandom And The Legacy Of The Boyband That Changed Everything
19 Batsh*t Crazy Photos That Show Just How Dedicated One Direction's Fans Were
Relive One Direction's Beginnings With A Look Back At X Factor's Iconic 2010 Series
The Perseverance rover will arrive on the Martian surface in February 2021
Home Office staff are to be given training so that they “understand and appreciate the history of migration and race” in the UK in response to the Windrush scandal, Priti Patel has announced.Speaking in the Commons on Tuesday, the home secretary assured MPs that lessons had been learned from the disaster, during which people with a right to live in the UK were wrongfully detained or deported to the Caribbean.Patel said her response to the Windrush Lessons Learned Review has been “swift, strong and uncompromising” and announced a number of changes in the way Home Office staff would be hired and trained.She said: “Mandatory training is being introduced for new and existing members of the Home Office staff to ensure everyone working across the department understands and appreciates the history of migration and race across the country.“There are simply not enough individuals from Black, Asian or minority ethnic staff working at the top in senior roles and there are far too many times where I am the only non-white face in the room.“Action must happen now. So right now, I am introducing more diverse shortlists for senior jobs, specialist mentoring and sponsorship programmes to help develop a wider pool of talent and drive cultural change.”Shadow home secretary Nick Thomas-Symonds said the Windrush scandal “must lead to real and lasting change”.He said: “All the more shocking that 60 people received compensation from the Windrush compensation scheme in its first year of operation. Ministers must get a grip of this scheme.”Related...
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“I think the probability is pretty good."
Plus: New availability report highlights database issues GitHub marked the start of the week with more than four hours of downtime, as GitHub Issues, Actions, Pages, Packages and API requests all reported "degraded performance."…
(Lehigh University) Thin film coatings do more than add color to walls. For example, they can be used as pharmaceutical devices. How these coatings dry can change their properties, which is especially important for films used in drug delivery. Lehigh University engineering researchers studying the in situ drying behavior of thin film coatings are visualizing particle interactions with groundbreaking precision. Their findings could impact the development of drug delivery technology.
It was inevitable really, wasn’t it?Motorola is hoping the Razr feature phone brand can be transplanted into the smartphone era.The Razr was probably the last time Motorola achieved mass market success in the handset market, but that was 15 years ago.Things have moved on a bit since then but if the brand, design and form factor worked before, it can work again, right?That seems to be what Moto is counting on by launching a smartphone based on the original concept.The defining industrial design tweak is that this one is the first to bring foldy screen technology to the clamshell form factor.
Get a head start on your holiday shopping and snag a fantastic deal with this Fitbit offer from Amazon.For a limited time, you can get the best-selling Fitbit Versa on sale for $135.That's a $65 discount and the best price we've found for the waterproof smartwatch.Amazon also has the Fitbit Ionic smartwatch on sale for $187.The Fitbit Versa is packed with health-focused features while also keeping you connected with access to your favorite apps and the ability to make calls, send messages, and receive notifications.The Versa helps you reach your fitness goals with on-screen workouts that play on your wrist and personalized coaching.
If you’ve been using Windows 10 for a while, you probably know about Cortana and OneDrive.But there are other, powerful features built into Windows 10 that you might not know about or have thought to use.These tools can help you jump right into a document or web page you accessed in the past, organize your opened applications, take notes that you can view and edit on your smartphone, and more.The following mini guides show you how to quickly set up and use these features in Windows 10, and how some can be used through your smartphone with a corresponding mobile app from Microsoft.Timeline: Pick up work where you left off
Just a day after it was revealed that Qualcomm was prepping to release its next-generation Snapdragon 865 chipset at the Qualcomm Snapdragon Tech Summit 2019, key specifications of the said chip have leaked.Snapdragon 865 chip is the successor to the SD 855 and SD 855+, which headlined flagship smartphones launched in 2019.Now, according to a Chinese tipster on Weibo, the Snapdragon 865 has an octa-core CPU with a base clock speed of 1.8GHz.It falls in line with an earlier report where the benchmark scores, allegedly of the SD865, were revealed via Geekbench listing.Adding to that information, we now have details on the basic specifications of the chipset.The SD865 chip is rumored to have four Kryo Silver (Cortex-A55) cores assigned to run at 1.8GHz, three Kryo Gold (Cortex-A77) cores at 2.42GHz frequency and a single Kryo Gold core with a 2.84GHz clock speed.
"Death Stranding" is finally here and gaming journalists have been giving it mixed reviews.Nevertheless, it appears that most of the feedback has generally been more positive than what others expected.Players are reportedly finding the game quite enjoyable as it is offering a new perspective with its unique online multiplayer feature.However, similar to past offerings from the brilliant mind of Hideo Kojima, there are some gameplay mechanics that is directly hinted at from the start.Coupled with some interesting nuances, gamers might want to play longer than usual to uncover a lot of these secrets.Most of the tips detailed in this report can help out players who do not want to miss out on notable achievements within the game.
As more and more phone makers abandon the headphone jack, there are still a handful of great phones being sold that have the audio port.This is especially useful if you want to keep your wired headphones to listen to calls and music.Click through to see what phones retain the beloved headphone jack.
One of the world’s most most technologically advanced hacking groups has a new backdoor that’s every bit as sophisticated as its creators.Dubbed Titanium by the Kaspersky Lab security researchers who discovered it, the malware is the final payload delivered in a long and convoluted attack sequence.The attack chain uses a host of clever tricks to evade antivirus protection.Those tricks include encryption, mimicking of common device drivers and software, memory-only infections, and a series of droppers that execute the malicious code a multi-staged sequence.Yet another means of staying under the radar is hidden data delivered steganographically in a PNG image.Named after a password used to encrypt a malicious archive, Titanium was developed by Platinum, a so-called advanced persistent threat group that focuses hacks on the Asia-Pacific region, most likely on behalf of a nation.
Activision Blizzard reported today that its earnings for the third quarter ended September 30 beat Wall Street’s expectations on both earnings and revenues.Activision Blizzard’s core businesses include games like Overwatch, Call of Duty, and World of Warcraft on consoles and PC and its Candy Crush mobile games.“Our third quarter results exceeded our prior outlook for both revenue and earnings per share,” said CEO Bobby Kotick in a statement.“Recent launches have enabled significant growth in the size of our audiences for our Call of Duty and World of Warcraft franchises.With a strong content pipeline and momentum in mobile, esports and advertising, we are confident we will remain a leader in connecting and engaging the world through epic entertainment.”For the quarter ended September 30, 2019, the Santa Monica, California-based company said that its revenues were $1.282 billion, as compared with $1.105 billion for the third quarter of 2018.
It is a well-known fact that the US does not want anything to do with Huawei’s tech especially when it relatest t0 5G.In fact, it has put consistent pressure on its allies to also shut Huawei out of their 5G construction.However, Huawei’s 5G remains the best bet for many nations thus its quite difficult to follow the US instruction.According to recent reports, despite pressure from the US, Hungary will still allow Huawei to participate in its 5G construction.According to Peter Szijjarto, Hungarian Foreign Minister, the country will allow Huawei to participate in the construction of 5G networks.He made this statement at an event in China on Tuesday.