As The End Of Google Docs Draws Near, Google Asks Stragglers To Transition To Google Drive

Google Drive

Google always pitched Google Drive, which launched in April after a considerable period of hype, as a replacement for Google Docs. What many users didn’t realize, it seems, is that Google will indeed completely replace Google Docs with Drive later this year. While Drive is still opt-in at this time, it looks like the forced transition is coming soon, as Google has started to alert users that their Google Docs account will soon be “upgraded to Google Drive.”

What’s coming next, according to Google’s official transition documents, is an opt-out phase similar to what the company has done when it transitioned to the new Gmail interface recently. Judging from the messages that many users are now seeing in Google Docs, this phase is going to start soon.

Finally, Google says, “users will be fully transitioned to Google Drive, with no ability to opt out.” Overall, Google expects the transition from what it calls the “Google Documents List” to Google Drive by late summer 2012.

Given that Google Drive is essentially an upgrade to Google Docs with more storage and functionality, chances are most users won’t mind the transition. Unlike the rather controversial Gmail design changes lately (and Google’s move to add Google+ to each and every one of its products), Google Drive is generally perceived to be a genuine upgrade to Docs. Still, there will always be a contingent of users who would prefer the status quo.

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As The End Of Google Docs Draws Near, Google Asks Stragglers To Transition To Google Drive

Report: Foxconn spending $210 million on Apple production line

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China Daily is claiming that Foxconn will pump $210 million into building a production line in China’s Jiangsu province. Local authorities have stated that the plant in Huai’an city will produce components for Apple, no doubt heralding a raft of rampant speculation as to Cupertino’s intentions. The building will occupy 40,000 square meters, produce $1.1 billion worth of gear per year and require 35,800 employees — more than Nokia and Sony have fired in recent months, combined.

Report: Foxconn spending $210 million on Apple production line originally appeared on Engadget on Mon, 21 May 2012 09:47:00 EDT. Please see our terms for use of feeds.

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Report: Foxconn spending $210 million on Apple production line

Facebook Shares Slide Nearly 12% To $33.76 On Second Trading Day After IPO

Screen Shot 2012-05-21 at 9.07.46 AM

Facebook shares dropped nearly 12 percent to $33.76 — below the company’s final $38 price in the company’s highly anticipated initial public offering last week. Today is an interesting test for Facebook’s worth because the company’s shares will no longer be supported by the IPO’s lead underwriter Morgan Stanley.

Facebook’s performance today may further stoke the debate over whether its IPO was priced well. To save face on Friday, Morgan Stanley had to step in to make sure that Facebook shares didn’t close below their opening price. There were also irregularities in trading on NASDAQ as some buyers had to wait hours to know whether their orders had been filled. The company’s market cap is now around $92.7 billion, down from the $104 billion valuation the company opened with last week.

That said, the real test will be over the long haul. Can Facebook prove its worth over the many years to come with more display ad and payments revenue? At Friday’s closing market cap of $104.8 billion, Facebook is worth more than one hundred times last year’s net income. Plus its revenue dipped quarter-over-quarter for the first time in the beginning of this year.

Over the weekend, there was a raging debate about whether the banks underwriting Facebook’s IPO pushed the offer price too high to $38. The financial press including The Wall Street Journal, Bloomberg (and yes, even some earlier reporting from me on TechCrunch) focused on the fact that Morgan Stanley had to support Facebook’s shares above the $38 line.

Fortune’s Dan Primack and others VC’s like Benchmark’s Bill Gurley and the guest post on TechCrunch this morning from Trinity’s Dan Scholnick argue that the IPO went off fantastically well for Facebook. Because shares didn’t pop dramatically higher than the $38 offer price, it’s a sign that the company got the most capital it could out of the IPO and didn’t leave any money on the table. They also savvily negotiated the underwriters’ fees down to about 1 percent.

These are all essentially shades of gray. Facebook’s performance today will be fascinating to watch. But again, it’s just one day in the long life of a company. It’s up to Facebook to show that it is worth a lot more.

That’s a sentiment that was echoed by Union Square Ventures’ managing partner Fred Wilson this morning at the TechCrunch Disrupt conference in New York. He said, “The price of Facebook isn’t that important. Mark built an incredible organization. I don’t care whether it’s trading at $25 or 35.”

Facebook’s performance is probably affecting tech stocks across the board. This morning, Zynga’s shares are off 7 percent to $6.65 and LinkedIn is down 6.4 percent to $92.65.


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Facebook Shares Slide Nearly 12% To $33.76 On Second Trading Day After IPO

Facebook Shares Slide More Than 13% To $33.20 On Second Trading Day After IPO

Screen Shot 2012-05-21 at 9.07.46 AM

Facebook shares dropped more than 13 percent to $33.14 — below the company’s final $38 price in the company’s highly anticipated initial public offering last week. Today is an interesting test for Facebook’s worth because the company’s shares will no longer be supported by the IPO’s lead underwriter Morgan Stanley.

Facebook’s performance today may further stoke the debate over whether its IPO was priced well. To save face on Friday, Morgan Stanley had to step in to make sure that Facebook shares didn’t close below their opening price. There were also irregularities in trading on NASDAQ as some buyers had to wait hours to know whether their orders had been filled. The company’s market cap is now around $90.1 billion, down from the $104 billion valuation the company opened with last week.

That said, the real test will be over the long haul. Can Facebook prove its worth over the many years to come with more display ad and payments revenue? At Friday’s closing market cap of $104.8 billion, Facebook is worth more than one hundred times last year’s net income. Plus its revenue dipped quarter-over-quarter for the first time in the beginning of this year.

Over the weekend, there was a raging debate about whether the banks underwriting Facebook’s IPO pushed the offer price too high to $38. The financial press including The Wall Street Journal, Bloomberg (and yes, even some earlier reporting from me on TechCrunch) focused on the fact that Morgan Stanley had to support Facebook’s shares above the $38 line.

Fortune’s Dan Primack and others VC’s like Benchmark’s Bill Gurley and the guest post on TechCrunch this morning from Trinity’s Dan Scholnick argue that the IPO went off fantastically well for Facebook. Because shares didn’t pop dramatically higher than the $38 offer price, it’s a sign that the company got the most capital it could out of the IPO and didn’t leave any money on the table. They also savvily negotiated the underwriters’ fees down to about 1 percent.

These are all essentially shades of gray. Facebook’s performance today will be fascinating to watch. But again, it’s just one day in the long life of a company. It’s up to Facebook to show that it is worth a lot more.

That’s a sentiment that was echoed by Union Square Ventures’ managing partner Fred Wilson this morning at the TechCrunch Disrupt conference in New York. He said, “The price of Facebook isn’t that important. Mark built an incredible organization. I don’t care whether it’s trading at $25 or 35.”

Facebook’s performance is probably affecting tech stocks across the board. This morning, Zynga’s shares are off 7 percent to $6.65 and LinkedIn is down 6.4 percent to $92.65.

Original post:
Facebook Shares Slide More Than 13% To $33.20 On Second Trading Day After IPO

Linux 3.4 Released


jrepin writes with news of today’s release (here’s Linus’s announcement) of Linux 3.4: “This release includes several Btrfs updates: metadata blocks bigger than 4KB, much better metadata performance, better error handling and better recovery tools. There are other features: a new X32 ABI which allows to run in 64 bit mode with 32 bit pointers; several updates to the GPU drivers: early modesetting of Nvidia Geforce 600 ‘Kepler’, support of AMD RadeonHD 7xxx and AMD Trinity APU series, and support of Intel Medfield graphics; support of x86 cpu driver autoprobing, a device-mapper target that stores cryptographic hashes of blocks to check for intrusions, another target to use external read-only devices as origin source of a thin provisioned LVM volume, several perf improvements such as GTK2 report GUI and a new ‘Yama’ security module.”


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Linux 3.4 Released

Who's Pirating Game of Thrones, and Why?


TheGift73 writes “In a few hours a new episode of Game of Thrones will appear on BitTorrent, and a few days later between 3 and 4 million people will download this unofficial release. Statistics gathered by TorrentFreak reveal that more people are downloading the show compared to last year, when it came in as the second most downloaded TV-show of 2011. The number of weekly downloads worldwide is about equal to the estimated viewers on HBO in the U.S., but why? One of the prime reasons for the popularity among pirates is the international delay in airing. In Australia, for example, fans of the show have to wait a week before they can see the latest episode. So it’s hardly a surprise that some people are turning to BitTorrent instead. And indeed, if we look at the top countries where Game of Thrones is downloaded, Australia comes out on top with 10.1% of all downloads (based on one episode). But delays are just part of the problem. The fact that the show is only available to those who pay for an HBO subscription doesn’t help either.”


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Who's Pirating Game of Thrones, and Why?

Programming — Now Starting In Elementary School


the agent man writes “The idea of getting kids interested in programming in spite of their common perception of programming to be ‘hard and boring’ is an ongoing Slashdot discussion. With support of the National Science Foundation, the Scalable Game Design project has explored how to bring computer science education into the curriculum of middle and high schools for some time. The results are overwhelmingly positive, suggesting that game design is highly motivational across gender and ethnicity lines. The project is also finding new ways of tracking programming skills transferring from game design to STEM simulation building. This NPR story highlights an early and unplanned foray into bringing game-design based computer science education even to elementary schools.”


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Programming — Now Starting In Elementary School