By timothy from Slashdot's my-country-right-or-holy-moley-look-at-this-bill department
parallel_prankster writes "Bloomberg reports that Eduardo Saverin, the billionaire co- founder of Facebook, has renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill. From the article: 'Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for an Internet company. Saverin's stake is about 4 percent, according to the website Who Owns Facebook. At the high end of the IPO valuation, that would be worth about $3.84 billion. Saverin, 30, joins a growing number of people giving up U.S. citizenship, a move that can trim their tax liabilities in that country. Saverin won't escape all U.S. taxes. Americans who give up their citizenship owe what is effectively an exit tax on the capital gains from their stock holdings, even if they don't sell the shares, said Reuven S. Avi-Yonah, director of the international tax program at the University of Michigan's law school. For tax purposes, the IRS treats the stock as if it has been sold.'"Read Replies (0)
By timothy from Slashdot's think-different department
An anonymous reader writes "In the next decade, our brains are going to become optimized for information browsing, says best-selling author Nicholas Carr. According to Carr, while the genetic nature of our brains isn't being changed by the Internet at all, our brains are adapting 'at a cellular level' and are weakening modes of thinking we no longer exercise. Therefore, in 10 years, if human beings are using the Internet even more than they do today, says Carr, "our brains will be even more optimized for information browsing, skimming and scanning, and multitasking — fast, scattered modes of thought — and even less capable of the kinds of more attentive, contemplative thinking that the net discourages.""
While Carr isn't making a case for Lamarckian evolution, the argument here seems weak to me; the same kind of brain change could be attributed to books, or television, or the automobile, couldn't it?Read Replies (0)
By Soulskill from Slashdot's courtroom-hail-mary department
bobwrit writes with news about how the monetary damages in the Google v. Oracle case might shake out. On Thursday, Judge Alsup told Oracle the most it could expect for statutory damages was a flat $150,000
, a far cry from the $6.1 billion Oracle wanted in 2011
, or even the $2.8 million offered by Google
as a settlement. However, Oracle still thinks it can go after infringed profits
, even though Judge Alsup specifically warned its lawyers they were making a mistake. He said, "It's the height of ridiculousness to say for those 9 lines you get hundreds of millions." Groklaw has a detailed post about today's events
.Read Replies (0)
By Soulskill from Slashdot's drivethrus-harder-drivebys-easier department
writes "BBC reports that as Nevada licenses Google to test its prototype driver-less car on public roads, futurists are postulating what a world of driver-less would cars look like. First, accidents would go down. 'Your automated car isn't sitting around getting distracted, making a phone call, looking at something it shouldn't be looking at or simply not keeping track of things,' says Danny Sullivan. Google's car adheres strictly to the speed limit and follows the rules of the road. 'It doesn't speed, it doesn't cut you off, it doesn't tailgate,' says Tom Jacobs, a spokesman for the Nevada Department of Motor Vehicles. Driver-less cars would mean a more productive commute. 'If you truly trust the intelligence of the vehicle, then you get in the vehicle and you do our work while you're traveling,' says engineer Lynne Irwin. They would mean fewer traffic jams. 'Congestion would be something you could tell your grandchildren about, once upon a time.' Driver-less cars could extend car ownership to some groups of people previously unable to own a car, including elderly drivers who feel uncomfortable getting behind the wheel at night, whose eyesight has weakened or whose reaction time has slowed."
Another reader points out an article suggesting autonomous cars could eventually spell the end of auto insurance
.Read Replies (0)