By msmash from Slashdot's more-biting,-less-chewing department
LeEco is a giant conglomerate in China. The company offers a range of services -- from online streaming service, to smartphones, to TV, to electric cars. On top of that, the company has been aggressively expanding into different markets with India and the United States being the two notable ones. How does it make so much cash? You wonder. It doesn't actually, according to the CEO, who has informed the employees that the company is quickly running out of cash. An anonymous reader shares a Bloomberg report: The billionaire chairman of China's LeEco has admitted his technology empire is running out of cash to sustain a headlong rush into businesses from electric cars to smartphones. In a lengthy letter to employees, company co-founder Jia Yueting apologized to shareholders and pledged to slash his income to 1 yuan (15 cents), slow LeEco's madcap pace of expansion, and move the company toward a more moderate phase of growth. LeEco is the umbrella holding company for a sprawling family of businesses that includes sports media, automobiles, smartphones and TVs. The company known for its LeTV streaming service has aggressively pursued funding and placed bets on new ventures, from an electric car plant in Nevada to a $2 billion acquisition of California TV maker Vizio Inc. "No company has had such an experience, a simultaneous time in ice and fire," Jia wrote in a letter, obtained by Bloomberg News, describing LeEco's rise and subsequent issues. "We blindly sped ahead, and our cash demand ballooned. We got over-extended in our global strategy. At the same time, our capital and resources were in fact limited."Read Replies (0)
By EditorDavid from Slashdot's he-asked-you-answer department
Slashdot reader davidwr is "an American-born, American-educated mid-career IT professional." But he's still curious about why American geeks earn more than their IT counterparts overseas:
If I'm a mid-career programmer looking for a job, why should I expect to be paid a whole lot more than my peer in India when applying for a job that could easily be outsourced to India? If I do get the job, why should I expect to keep it more than a year or two instead of being told "your job is being outsourced" before 2020? Is my American education and 5-25 years of experience in the American workplace really worth it to an employer?
Should we, as an industry, lower our salary expectations -- and that of students entering the field -- to make us more competitive with our peers in India and similar "much cheaper labor than first world" economies? If not, what should we be doing to make ourselves competitive in ways that our peers overseas cannot duplicate?
What's the secret ingredient that justifies those higher salaries? Leave your answers in the comments. Why are American tech workers paid so well?Read Replies (0)
By EditorDavid from Slashdot's Hulk-Hogan's-lawyer department
Shiva Ayyadurai still claims he invented email -- rather than the late ARPANET pioneer Ray Tomlinson. Now Gizmodo reports that Ayyadurai "will receive a $750,000 settlement from Gawker Media, the bankrupt publisher that he sued for defamation earlier this year."
As part of the settlement, Gawker Media has agreed to delete three stories from the archive of Gawker.com, including one about Ayyadurai. Univision, which purchased most of Gawker Media's assets [including Gizmodo] out of bankruptcy in September, deleted two Gizmodo posts concerning Ayyadurai -- over the objections of the editorial staff -- immediately after closing the transaction... The offending Gizmodo articles made the case that "a lot of people don't believe that Ayyadurai invented email," and that "networked communication actually predates [his] computer program by a few years." As Tomlinson told Gizmodo in one of the stories Ayyadurai succeeded in getting unpublished, the email formats that are so familiar today -- to:, from:, etc. -- were in use years before Ayyadurai "invented" them.
The third post was titled, "If Fran Drescher Read Gizmodo She Would Not Have Married This Fraud."Read Replies (0)
By EditorDavid from Slashdot's ring-in-the-new department
"In the past few years, lab-grown diamonds have become indistinguishable from natural diamonds to the naked eye..." reports the Wall Street Journal. This creates a problem for diamond-mining company De Beers. HughPickens.com writes:
While synthetics make up just a fraction of the market, they have growing appeal to younger buyers -- a headache for mine owners, who are under pressure to cut supply and lower prices, because traders, cutters and polishers are struggling to profit amid a credit squeeze and languishing jewelry sales... "Martin Roscheisen, chief executive of Diamond Foundry Inc., a San Francisco synthetic-diamond producer with a capacity of 24,000 carats, says he believes nearly all diamonds consumers purchase will be man-made in a few decades," reports the Journal. "To counter the threat, last year De Beers helped launch a trade association with other producers to market the attraction of natural diamonds. It also started marketing a new, cheap detector called PhosView, that uses ultraviolet light to detect lab-grown stones that quickly screens tiny synthetic diamonds.
It always seemed like a waste of money to me. After all, it's literally raining diamonds on Saturn.Read Replies (0)
By EditorDavid from Slashdot's expanding-your-mind department
An anonymous reader writes:
As Marvel publicizes its Doctor Strange movie, "there's one key figure you won't be hearing from: the person who created the Sorcerer Supreme." Steve Ditko (who also co-created Spider-Man with Stan Lee in 1962) introduced Doctor Strange in 1963, remembers The Hollywood Reporter, then abruptly left Marvel in 1966 to work for other publishers. "He would more or less be done with mainstream comics by the 1970s, though he would pop up from time to time (he co-created Squirrel Girl for Marvel in the 1990s)."
Ditko was recently involved in a Kickstarter campaign to honor the anniversaries of famous comics (in which 152 backers ultimately pledged $5,462). He celebrated his 89th birthday this week, but "He is private and has intentionally stayed out of the spotlight like J.D. Salinger," says the director of Doctor Strange, adding "I hope he goes to see the movie wherever he is, because I think we paid homage to his work." The article includes fond memories of working with Ditko from both Jim Starlin and Stan Lee, who also praised his work in a book called The Art of Steve Ditko. "All I had to do was give Steve a one-line description of the plot and he'd be off and running. He'd take those skeleton outlines I had given him and turn them into classic little works of art that ended up being far cooler than I had any right to expect."Read Replies (0)
By EditorDavid from Slashdot's some-men-fight-alone department
An anonymous reader writes:
Two Call of Duty games have been remastered for Windows 10, but if you buy them through the Windows 10 Store there's a problem. "Windows 10 Store players will be isolated from other PC versions of the game," reports the Windows Central site, noting a statement from Microsoft which implies that the decision was made by Activision.
"For unknown reasons, Windows 10 Store customers are segregated from customers who bought the game from Steam, which is by far the most popular platform on PC," reports Motherboard. "Call of Duty fans who made the unfortunate of mistake of giving Microsoft their cash are left sitting in lonely multiplayer lobbies waiting for games that'll never start."
Motherboard reports that at least one player successfully requested a refund, calling the situation "another black eye for a digital storefront that PC gamers already avoid like the plague."Read Replies (0)
By EditorDavid from Slashdot's ghost-in-the-machines department
An anonymous reader quotes Bleeping Computer: "Two researchers presenting at the Black Hat Europe security conference in London revealed a method of infecting industrial equipment with an undetectable rootkit component that can wreak havoc and disrupt the normal operations of critical infrastructure all over the world. The attack targets PLCs (Programmable Logic Controllers), devices that sit between normal computers that run industrial monitoring software and the actual industrial equipment, such as motors, valves, sensors, breakers, alarms, and others."
Researchers say they packed their attack as a loadable kernel module [PDF], which makes it both undetectable and reboot persistent. The attack goes after PLC pin configurations, meaning the PLC won't be able to tell which are the actual input and output pins, allowing the attacker full-control to make up bogus sensor data, send fake commands, or block legitimate ones.
The researchers acknowledge that the attack is extremely complicated, but the article argues it would still be of interest to a state-sponsored actor.Read Replies (0)
By EditorDavid from Slashdot's lowering-the-boom-on-boomers department
HCSC recently announced layoffs for more than 500 IT workers, and expects them to train their replacements from an India-based contractor. But a few days earlier, CEO Paula Steiner said, "As full-time retiring baby boomers move on to their next chapter, the makeup of our organization will consist more of young and non-traditional workers, such as part-time workers or contractors." dcblogs quotes ComputerWorld:
What Steiner didn't say in the employee broadcast is that some of the baby boomers moving "on to the next chapter" are being pushed out the door. "Obviously not all of us are 'retiring' -- a bunch of us are being thrown under the bus," said one older employee.
The insurance provider argues that its members want easier technology solutions that "help keep rising costs in check. Our IT teams are being transformed...focusing on those and other member needs." But Slashdot reader ErichTheRed writes:
Having a CEO actually say in public that their company wants to engage in age discrimination and eliminate full-time employment, rather than just carry out the work in secret, is new to me... for those mid- to late-career technical folks, how have you managed to adjust to new realities like this?Read Replies (0)