If you know anything about the Raven bookstore in Lawrence, Kansas, then you know that it charges more for books than Amazon. Advertising higher prices is an unlikely strategy for any business, but Danny Caine, Raven’s owner, has an M.F.A., not an M.B.A., and he talks openly with customers about why his books cost as much as they do. Two years ago, he took that conversation to social media, using the store’s Twitter account to explain why the Raven was charging twenty-six ninety-nine for a hardcover book that a customer had seen online for fifteen dollars. “When we order direct from publishers, we get a wholesale discount of 46% off the cover price,” Caine wrote. “Our cost for that book from the publishers would be $14.57. If we sold it for $15, we’d make . . . 43 cents.” Caine estimated that, with an inventory of some ten thousand books in the store, on a profit of less than fifty cents a book, the Raven could afford to stay open for about six days.
Amazon has a much larger inventory—not only of books but of other goods with much higher profit margins—as well as many other revenue streams. The company can afford to take a loss on books. “If you’ve ever wondered why it seems like ‘there are no bookstores anymore’ or why retail businesses keep closing in your downtown, this is it,” Caine wrote. The Raven can’t afford losses like Amazon, but almost every dollar that the store makes stays in Kansas: after the publisher’s cut, half of every book sold goes directly to employee wages; the other half goes to rent, marketing, and other operating costs, including store maintenance, the Web site, and food and veterinary care for the Raven’s most famous employees, the cats Dashiell (as in Hammett) and Ngaio (as in Marsh).
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Amazon can afford to take a loss on books. Small independent bookstores cannot. Illustration by Owen D. Pomery; Source photograph by Danny Caine
On a sunny day in early 2017, Sundar Pichai, Alphabet Inc.’s chief executive officer, returned to his alma mater, the Indian Institute of Technology Kharagpur, in West Bengal, to speak before 3,500 students. Welcomed as the “rock star” leader of the “world’s most innovative company,” he reminisced about skipping classes and meeting his college girlfriend—now his wife. He also pitched Google to the soon-to-be-graduates in attendance. How many wanted to work there, the interviewer asked. Hundreds of hands went up. “Wow, maybe we should open a campus in Kharagpur,” Pichai joked.
As far as feeder schools go, it doesn’t get much better for Google than the network of 23 ultracompetitive, government-funded IITs. Every year hundreds of their graduates join the world’s biggest tech companies. In 2003, when the school system celebrated its 50th anniversary, Bill Gates delivered a keynote speech praising grads who’d come to work at Microsoft Corp. over the years, noting that the company had, in turn, invested more money in the IITs than in any other institution outside the U.S. and the U.K.
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Amit Jatav at home as he tried to continue his studies with his university, IIT Delhi, going online. Behind him is a portrait of B.R. Ambedkar, a Dalit thinker, and activist who led the drafting of the Constitution of India and is responsible for the fight against caste discrimination in the country.
Photographer: Anshika Varma for Bloomberg Businessweek
It was March 23, 2018, just days after the revelation that Cambridge Analytica, a consultancy that worked on Donald Trump’s 2016 presidential election campaign, had surreptitiously siphoned the personal data of tens of millions of Americans from their Facebook accounts in an attempt to influence how they voted. It was the biggest privacy breach in Facebook’s history, and Quiñonero had been previously scheduled to speak at a conference on, among other things, “the intersection of AI, ethics, and privacy” at the company. He considered canceling, but after debating it with his communications director, he’d kept his allotted time.
As he stepped up to face the room, he began with an admission. “I’ve just had the hardest five days in my tenure at Facebook,” he remembers saying. “If there’s criticism, I’ll accept it.”
The Cambridge Analytica scandal would kick off Facebook’s largest publicity crisis ever. It compounded fears that the algorithms that determine what people see on the platform were amplifying fake news and hate speech, and that Russian hackers had weaponized them to try to sway the election in Trump’s favor. Millions began deleting the app; employees left in protest; the company’s market capitalization plunged by more than $100 billion after its July earnings call.
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The company’s AI algorithms gave it an insatiable habit for lies and hate speech. Now the man who built them can’t fix the problem.
In 1883, a Jerusalem antiquities dealer named Moses Wilhelm Shapira announced the discovery of a remarkable artifact: 15 manuscript fragments, supposedly discovered in a cave near the Dead Sea. Blackened with a pitch-like substance, their paleo-Hebrew script nearly illegible, they contained what Shapira claimed was the “original” Book of Deuteronomy, perhaps even Moses’ own copy.
The discovery drew newspaper headlines around the world, and Shapira offered the treasure to the British Museum for a million pounds. While the museum’s expert evaluated it, two fragments were put on display, attracting throngs of visitors, including Prime Minister William Gladstone.
Then disaster struck.
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In 1883, 15 manuscript fragments found near the Dead Sea caused an international sensation.
Apple adds more functions to the iPhone every year, but the more it can do, the more complicated it gets.
If you recently got a new iPhone after sitting out several generations — or maybe just don’t fiddle around with your phone a lot — you might be missing out on some easy ways to get more done, faster. The iPhone has a bunch of “hidden” menus that help you do things like search across apps, go back to the last screen, find widgets that show snapshots of certain information, or quickly turn your Wi-Fi off and on.
If you’re a WhatsApp user, you will have seen the alarming stories warning about the messaging platform’s surprise privacy changes, many suggesting you switch to alternatives. The good news is you don’t need to do that—WhatsApp is still okay to use. The bad news, though, is that you do need to change these critical settings to stay safe.
WhatsApp is changing. The messaging platform has now confirmed changes first announced in October, that open up further data sharing with Facebook. This last week has been the toughest for WhatsApp since the damaging spyware revelations in 2019. The idea that the world’s largest private messenger will share data with the world’s most ruthless data machine has prompted a backlash. Installs of rival messengers are soaring, up hundreds of percent in the last few days.
Time for some perspective. Your most private and sensitive data on WhatsApp, your messages, will remain private to you and the people you communicate with; messages are end-to-end encrypted as they’re sent—only you and the other side of each message can decrypt its content. Even WhatsApp has no means of accessing the content in transit, while the messages on your phone are protected by the security of your device.
All of those obnoxious marketing emails that crowd your inbox aren’t just pushing a product. They’re also tracking whether you’ve opened the email, when you opened it, and where you were at the time by using software like MailChimp to embed tracking software into the message.
How does it work? A single tracking pixel is embedded into the email, usually (but not always) hidden within an image or a link. When the email is opened, the code within the pixel sends the info back to the company’s server.
There have been some attempts to restrict the amount of information that can be transmitted this way. For example, since 2014, Google has served all images through its own proxy servers, which could hide your location from at least some tracking applications. And extensions such as Ugly Email and PixelBlock have been developed to block trackers on Chrome and Firefox.
Film and Writing Festival for Comedy. Showcasing best of comedy short films at the FEEDBACK Film Festival. Plus, showcasing best of comedy novels, short stories, poems, screenplays (TV, short, feature) at the festival performed by professional actors.
The company’s AI algorithms gave it an insatiable habit for lies and hate speech. Now the man who built them can’t fix the problem.
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James' World 2 