Things That Are Not True About Being A Founder

via Things That Are Not True About Being A Founder – The Skimm

skimm founder pic.PNG

we’ve gone from super-early stage founders to less-early stage founders, we’ve realized that we had SO many misconceptions about the lives of founders in this stage of a company. Read: that they had figured it out or had people to figure it out for them. And as we thought about how wrong we were, we realized how many things others misconstrue about us.

below are the biggest things that are not true about being a founder:

  1. You are the highest paid employee-RealityDepends on the stage, depends on the company. A lot of founders we know have had the opportunity to do this at larger fundraises and have noted that is when their ‘lifestyle’ started to change. We have not yet had or taken that opportunity, which makes it really fun when long lost family friends think we personally have made $8.5 million (what the Skimm raised as a Series B). Surprise: we have not!
  2. The pit in your stomach that you used to have when talking to your old bosses goes away when you’re the boss-Reality: It’s even worse now. At any moment we go from an incredible high of everything’s exciting and has momentum to literally breaking out into a sweat when we get an email or text from an employee that says ‘hey can I talk to you for 10 min alone?’ We immediately think they are somewhere between A. Quitting B. Reporting some sort of awful harassment.
  3. You stop being involved in the day-to-day-Reality: when we interview candidates and they say they are ‘surprised’ we still seem so involved, a small part of us dies, the other part of us slaps them in our head. We have no idea in what universe founders at this stage can stop being involved in the day-to-day of growing a company. We live and breathe the Skimm allllllll day long, just as much if not more than we did day 1 on our couch, but with higher stakes. Read: We have mouths (employees) to feed.

 

(For i am technically a ‘Founder’ of Job 22:25…and all i did is laugh, when i read the assumptions of people who know of ONLY multi-million dollar ‘Founders’ AFTER they GOT THERE! Remember how Mickey D Inc ‘Founder’ started? as a door-to-door salesman, with people who DIDN’T take him seriously…i learned from that movie-FIND OTHERS WITH THE SAME DRIVE AS YOU, who see a good thing and will run with it, instead of changing it…

To find other STRONG believers in Christ, who believe in applying the principle of Christ to ‘business’ and that being wealthy ISN’T evil (just EXTREMELY temptatious).

The Lord Yeshua has a plan, how to utilize EVERY penny…:-D The-Man-With-The-Plan! 😀

Wealth comes with TREMENDOUS responsibility.

Who is willing? In the name of He Who Saves? 😀 (Hallelujah!) Job2225

 

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Japan’s Softbank wants to invest $10 billion in Uber, but only if it gets a big discount

japanese uber author

via Japan’s Softbank wants to invest $10 billion in Uber, but only if it gets a big discount – Business Insider

Softbank is in talks with Uber about a massive $10 billion investment in the company, according to a report in the Wall Street Journal on Thursday.  (today is Friday 9/15/17 Central Time, USA)

Uber was last valued at $69 billion. But according to the WSJ report, Softbank is trying to convince shareholder to agree to an auction process that would price Uber shares at a discount and value the company at $50 billion.

Softbank declined to comment to Business Insider.  Uber did not immediately return requests for comment.

The tumultuous management changes have been accompanied by bitter infighting among different factions of company insiders and investors. Benchmark Capital, one of Uber’s largest investors, sued Kalanick in August, alleging that the Uber cofounder fraudulently obtain control of three company board seats. The lawsuit provoked a bizarre declaration of war from another high-profile Uber investor, who vowed to strike back at the “unholy alliance” of “sanctimonious hypocrites.”  (makes me working now on Charter bylaws for my ministries even MORE important! Getting a lawyers help!)

A deal with Softbank would mark Khosrowshahi’s first major action since taking the reins. Negotiations began before Khosrowshahi was hired and could conclude as early as next week the WSJ reported citing an anonymous source.

Read the full WSJ story here.

 

Fannie-Freddie Reform Won’t Happen Until 2018, Mnuchin Says

via Fannie-Freddie Reform Won’t Happen Until 2018, Mnuchin Says – Bloomberg

https://www.bloomberg.com/api/embed/iframe?id=bc5681cc-644b-45fc-8744-689176863d41

Treasury Secretary Steven Mnuchin said plans for overhauling Fannie Mae and Freddie Mac won’t be addressed until next year,

Analysts said that the shares also rose because of a recently passed resolution by the Republican National Committee, which said the claims of private Fannie and Freddie investors should be resolved “in a manner that honors and respects the rule of law governing the rights of corporate stockowners.”

Hedge Funds

Hedge funds and other investors who own Fannie and Freddie shares have fought for years to secure a portion of the companies’ profits, which now all flow to the U.S. Treasury. Firms including Fairholme Funds Inc., Paulson & Co. and Perry Capital have sued the government or funded lobbying campaigns in an attempt to change the policy.

The government took control of Fannie and Freddie in 2008, eventually injecting them with more than $187 billion during the financial crisis. The terms of the bailout originally called for a 10 percent dividend, but in 2012 the government changed them to sweep nearly all of the profits when they made one. The companies have since paid the government more than $270 billion in dividends.

The 2012 change also required Fannie and Freddie to wind down their capital buffers until they reached zero dollars next year. Shareholders sued after the change, though the courts that have ruled so far have largely dismissed their claims.

The Democratic lawmakers’ Wednesday letter focused narrowly on allowing Fannie and Freddie to retain a capital buffer. Six members of the Senate Banking Committee said that Watt, who oversees the companies as FHFA director, and Mnuchin should let them stop paying all of their profits to the Treasury in order to build capital.

Further Reforms

The lawmakers wrote that they didn’t believe Fannie and Freddie should be released from conservatorship without further reforms. Still, some shareholders see rebuilding capital as a necessary first step to the companies exiting government control.

So far, few GOP lawmakers have expressed public support for preserving Fannie and Freddie in their current state,

FHFA officials have said they wouldn’t support releasing the companies from conservatorship without legislation even if Trump wanted to do that.

— With assistance by Felice Maranz, Agnel Philip, and Saleha Mohsin

Why the U.S. government is moving to ban this Russian software company

Sept 14, 2017

author of moscow software

via Why the U.S. government is moving to ban this Russian software company – The Washington Post

On Wednesday, the U.S. government declared that federal agencies must identify a popular brand of security software on their networks and prepare a plan to remove it because of its creator’s potential ties to Russia’s cyberespionage activities. Kaspersky Lab, the software company, is used by at least a half-dozen federal civilian agencies to some degree, according to U.S. officials. There may also be other agencies in which the software is being used without the knowledge of that agency’s chief information security officer. However, officials have not publicly disclosed which agencies exactly are using Kaspersky products.

What did the U.S. government actually do?

The acting homeland security secretary, Elaine Duke, issued an order Wednesday that federal civilian agencies identify Kaspersky software on their networks. After 90 days, unless otherwise directed, they must remove the software, on the grounds that the company has connections to the Russian government and its software poses a security risk. The order does not apply to military networks. However, the Defense Department and intelligence agencies generally do not use Kaspersky software and have not for a number of years.

Nonetheless, Congress is considering legislation that would implement a government-wide ban on Kaspersky products.

In July, the General Services Administration, the agency in charge of government purchasing, removed Kaspersky from its list of approved vendors. In doing so, the GSA suggested a vulnerability exists with Kaspersky products that could give the Kremlin surreptitious access to the systems using the software.

“Kaspersky Lab has never helped, nor will help, any government in the world with its cyberespionage or offensive cyber efforts, and it’s disconcerting that a private company can be considered guilty until proven innocent, due to geopolitical issues,” the company said in a statement.

DHS said in a statement Wednesday that Russian law allows Russian spy agencies to compel assistance from Kaspersky and to intercept communications transiting Russian networks.

DHS has given Kaspersky 90 days to provide proof that its products are not facilitating espionage for Russia or to offer mitigating measures. If the company fails to do so, DHS will implement the ban.

(Bear in mind that the United States has such laws as well, EVERY COUNTRY has the ability to do this to ANY COMPANY/PERSON within its borders) (tis why there is much accusations of people from the United States are actually undercover spies.)