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6 Things You Need to Know Today

A roundup of the day's news--curated by the Inc. editorial team--to help you and your business succeed.
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1. Privacy Police

Here's a good omen for startups, and a bad one for consumers: The Federal Trade Commission called out Snapchat Thursday for not being upfront with users about its privacy settings. "Any company that makes misrepresentations to consumers about its privacy and security risks FTC action," the commission warned. But it was little more than a wrist slap--Snapchat didn't receive a fine.--AdAge 

2. Fun With Stats & Stereotypes

How savvy is your marketing on mobile? Battery Ventures recently did its own research into the typical demographics of iPhone users vs. Android users. While both groups are equally likely to own a home or a gun, iPhone users are wine-drinking, frequent-flyers while Android users are religious and like to eat at McDonalds. Roughly speaking, of course.--Re/code

3. Open Internet Plea

On Thursday, a group of more than 100 venture capitalists published an open letter asking the Federal Communications Commission to consider all the options before deciding on a new Internet traffic policy. The group predicts a dim future for future entrepreneurs: "Ideas will be vetted by committees and quirky passion projects will not get a chance. An individual in a dorm room or a design studio will not be able to experiment out loud on the Internet. The result will be greater conformity, fewer surprises, and less innovation."--Nick Grossman's blog

4. Our Smartphone Addictions, by the Numbers

Now you can find out all you ever wanted to know about smartphone use and productivity thanks to a thorough report. For example, did you know that annual worker productivity growth increased 9 percentage points since the first iPhone was released in 2008? Or that 68 percent of workers use their smartphones to check work email before 8 a.m.?--Pando Daily 

5. Growth by Aquisition

Magnet 360, a $25-million IT consultancy and two-time Inc. 500 honoree, acquired American Data Company (ADC) for undisclosed terms. The deal means Magnet, which had raised $1.6 million in equity financing in March, will go from 15 to 110 employees and pick up some high-profile customers including eBay and LiveNation. The moral of the story? Equity financing isn't just for startups--it can fuel a growth-by-acquisition strategy too.--Magnet 360

6. Trouble at Uber

Not everyone is happy with UberX's low fares, which Uber says are 26 percent cheaper, on average, than a taxi's. UberX drivers gathered Thursday outside of the company's San Francisco headquarters to protest the company's recent decision to raise the cut it takes from drivers' fares from 5 to 20 percent. It just goes to show you can't ignore one of your most important constituencies: your team.--TIME

Last updated: May 9, 2014




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