Steve Jobs Takes on Adobe
Steve Jobs takes aim at Adobe. In a sign that Apple founder Steve Jobs has returned to his familiar role as spokesperson for his company, Jobs has just posted a missive that attacks software rival Adobe. A war of words has been brewing for years between the companies over Apple's decision not to allow Adobe software on its iPhone. "Apple Gives Adobe the Finger," wrote TechCrunch, earlier this month. Around the same time, an Adobe employee wrote, "Go screw yourself Apple." Jobs's latest post is mostly a technical defense of Apple's decision to ban Adobe's Flash software, but Jobs gets in a few jabs, too. "The two companies worked closely together to pioneer desktop publishing and there were many good times," he writes. "Since that golden era, the companies have grown apart."
Tim Ferriss on angel investing. You likely know Tim Ferriss as a productivity guru and author of "The 4-Hour Workweek" but fewer people are aware that he's also a pretty active angel investor. TechCrunch has a video interview with Ferriss on his investments, which include Digg, Twitter, StumbleUpon, and Posterous. Ferriss got into angel investing after his fantasy of returning to business school went sour at the thought of textbooks full of theory. Instead he took the $120,000 he would have spent and used it as his "angel investing tuition." He planned on "losing all of that money but learning enough over the span of those two years that it would be greater than business school." If Ferriss's suggestion of a four-hour workweek sounds a little cramped to you, you can always try a four-day workweek.
Is your state's tax system entrepreneur-friendly? Nobody likes taxes, but here's a quick way to see where your state ranks in terms of the tax burden it puts on entrepreneurs and small businesses. The Small Business & Entrepreneurship Council has just released their study, "Business Tax Index 2010: Best to Worst State Tax Systems for Entrepreneurship and Small Business," which ranks the 50 states (and District of Columbia) according to the costs of their tax system. The rankings consider 16 different tax measures, including income tax, capital gains, property taxes, and gas and diesel taxes. According to the study, South Dakota has the most business-friendly tax system, followed next by Texas, Nevada, Wyoming, and Washington. The District of Columbia ranks as the worst tax system for entrepreneurs with New Jersey, Minnesota, California, and New York following close behind.
Buying out your business partner. Paul Downs, founder of Paul Downs Cabinetmakers in Norristown, Pennsylvania, had a problem. He owned his partner, the money man, $270,000. Sales were picking up, but cash was still low. If he didn't repay by September of next year, he'd lose his stock and getting another loan wasn't an option. Without him, the company he started 24 years ago would close. In the New York Times, Downs writes about his quest to regain his company: the e-mail asking his partner how much it would take to buy him out, the 10 days of negotiating that followed, and how it changed his company.
Group-buying wars heat up. In what has to be viewed as an attempt to keep up with the funding of behemoth group-buying start-up Groupon, Washington, D.C.-based LivingSocial announced Thursday that it has raised $14 million in a Series C round, AllThingsD reports. The group-buying industry, which centers on offering daily discount deals for local small businesses, has blown up in popularity in the last six months, with Groupon leading the charge. "LivingSocial will need every penny if it is to compete with Groupon and a growing spate of competitors in the local space," Swisher writes.
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