Current Issue
This Month's Print Issue

Follow Fast Company

We’ll come to you.

10.28.16 | 9:50 am

N.Y.C. becomes first city in U.S. to pass wage protection for freelancers

The "Freelance Isn't Free" bill, aimed at protecting freelance professionals in New York City from clients who don't pay or pay late, was passed unanimously by the New York City Council yesterday. Mayor Bill de Blasio is expected to sign it into law, and it would go into effect 180 days later.

The law mandates that employers pay freelancers in full within 30 days after they render services (unless otherwise specified in a contract). It is still not determined whether the protection will extend to freelancers residing outside New York who work for N.Y.C.-based companies.

One of the chief complaints of freelance professionals is getting paid on time. As many as 7 out of 10 freelancers encounter this costly problem, according to the most recent survey from Upwork/Freelancers Union. The survey estimates as many as 38% of New York City's workers are independent contractors.

06.26.17 | 43 minutes ago

Watch J.K. Rowling’s 20th-anniversary Harry Potter tweet spread around the world

You already know this, but everyone's favorite boy wizard isn't a boy anymore. Harry Potter's 20th anniversary is today, and to mark the occasion, J.K. Rowling, an author who never has to work again in her life, tweeted her thanks to Potter fans around the world—and they listened. Social analytics platform Talkwalker tweeted back with an animated graphic showing how Rowling's tweet spread throughout the world over the first few hours. Check it out below. It's, um, spellbinding.

06.26.17 | an hour ago

Report: The owner of the National Enquirer is eyeing Time Inc.

[Photo: Nick Hillier]

The New Yorker just came out with its profile of David Pecker, the man at the helm of the National Enquirer's parent company, American Media Inc. There's a lot to digest from the very long read, but one thing has stuck out to many: The media mogul is reportedly considering buying Time Inc.

The New Yorker's Jeffrey Toobin writes:

Pecker is now considering expanding his business: he may bid to take over the financially strapped magazines of Time, Inc., which include Time, People, and Fortune. Based on his stewardship of his own publications, Pecker would almost certainly direct those magazines, and the journalists who work for them, to advance the interests of the President and to damage those of his opponents.

Politico reported Pecker's interest in the media company a few months back. Of course, as this is the media business, nothing is certain. Still, we may be seeing a more Trump-friendly magazine rack soon.

Meanwhile, Time Inc. is trying to stay afloat whether or not Pecker buys it: Today it announced a licensing deal with Barclays that would index the Fortune 500. This comes just a few weeks after Time Inc. announced a series of sweeping layoffs

06.26.17 | 2 hours ago

This will make you understand why you click on certain headlines and not others

Researchers at BuzzSumo analyzed over 100 million headline phrases that resulted in the most engagement from users on social media. They found that certain three-word phrases, or trigrams, that were included in headlines garnered more engagement from users in the forms of likes, shares, and comments. By far, headlines with the phrase "will make you" got the most engagement on Facebook. That was followed by headlines with "this is why" and "can we guess" phrases in them. The worst performing headlines included the phrase "simple way to" followed by "that actually work" and "don't forget to."

06.26.17 | 5:34 am

Check out SpaceX’s Iridium 2 launch

SpaceX's Falcon 9 rocket successfully launched on Sunday, June 25, at 1:25 p.m. PDT from Vandenberg Air Force Base in California carrying a payload of 10 communication satellites to low-Earth orbit. After delivering its payload, the Falcon 9 rocket then returned to Earth and successfully landed on SpaceX's droneship in the Pacific Ocean. You can check out the Iridium 2 mission launch, payload delivery, and landing all in the video below. SpaceX has also posted some cool shots of the launch on their Flickr page.

06.26.17 | 5:21 am

Now Facebook is getting into original TV programming

The social media giant has told Hollywood studios it is looking for original scripted and unscripted TV content as it prepares to get into the original programming game, reports the Wall Street Journal. Facebook is reportedly willing to spend as much as $3 million per episode for production budgets, which is how much most high-end cable-TV shows cost. The company is also seeking moderate-cost scripted shows with budgets in the six-figures per episode as well as picking up "distressed assets," or shows the networks are looking to cancel.

Facebook is reportedly eyeing a late summer launch for some of its original programming, but that date isn't set in stone. The company is just the latest tech giant looking to get into the original programming game. When its original content does launch, it will join the likes of Netflix, Amazon, and Apple, which are already streaming original programming. 

06.26.17 | 12:00 am

Pandora’s Tim Westergren is the latest CEO to step down

Well, that didn't last long. Fifteen months after taking over as CEO, Pandora cofounder Tim Westergren is reportedly stepping down. The company hasn't said anything about a potential replacement. 

The news comes amid a lot of change and challenges at the 15-year-old music company. Westergren, who took over somewhat suddenly for previous CEO Brian McAndrews last year, oversaw the final stages of the launch of Pandora Premium, its paid music subscription service. The new offering was built from the remains of Rdio, one of three companies it acquired in late 2015 as the company attempted to expand into subscriptions, live event ticketing, and music analytics. Another of those acquisitions, TicketFly was just sold to Eventbrite for $200 million. At the same time, Pandora got a $480 million investment from SiriusXM, a company that many people expected to acquire Pandora. 

Last month, news broke of an executive departure at one of Pandora's main rivals when Tidal CEO Jeff Toig left the company, its third chief executive in two years.

06.25.17 | 11:43 pm

Update: Binary Capital’s Justin Caldbeck resigns in wake of sexual harassment allegations

The venture capital firm's cofounding partner took a leave of absence on Friday after several female entrepreneurs accused him of sexual harassment. On Sunday, Caldbeck went a step further and resigned, according to an email obtained by Axios's Dan Primack that cofounder Jonathan Teo had sent to Binary Capital's limited partners. In the email, Teo also noted that partner Matt Mazzeo had also left the firm and that Binary Capital had hired lawyers from white-shoe law firm Gibson Dunn to "conduct an independent internal investigation of this matter."

Here is the beginning of the email:

I trusted my partner and it is clear that I shouldn't have. The predatory behavior Justin has been accused of is deplorable, and there will be zero tolerance at our firm of any conduct that is demeaning to women.
Effective immediately, Justin has resigned from Binary Capital. He will have no further role at the firm and I will be the sole managing partner . . . 

Read the full story here.

06.23.17 | 4:18 pm

Binary Capital partner Justin Caldbeck takes leave of absence after sexual harassment allegations

Yesterday, the Information published a report documenting allegations from six women who accused venture capitalist Justin Caldbeck of making unwanted sexual advances toward them, from groping to inappropriate text messages. Barely 24 hours later, Caldbeck has announced he is taking an "indefinite leave of absence" and will be getting professional counseling. 

"The power dynamic that exists in venture capital is despicably unfair," he said in a statement provided to Fast Company. "The gap of influence between male venture capitalists and female entrepreneurs is frightening, and I hate that my behavior played a role in perpetrating a gender-hostile environment. It is outrageous and unethical for any person to leverage a position of power in exchange for sexual gain—it is clear to me now that that is exactly what I've done."

Could this be a harbinger of things to come? As Fast Company's Ruth Reader posited recently, perhaps this is the year companies will stop giving workplace sexism a pass. 

06.23.17 | 3:44 pm

LinkedIn’s Reid Hoffman on sexual harassment in VC: “Why the lack of outrage and commentary?” 

In response to the recent allegations of misconduct levied against Binary Capital partner Justin Caldbeck, LinkedIn cofounder Reid Hoffman took to—where else?—LinkedIn to ask why the response to the report was so tepid. It is critical that people sat up and paid attention, he wrote, because incidents of sexual harassment are commonplace in the world of venture capital

Hoffman echoes what was said by the women who made the allegations against Caldbeck: VCs aren't held accountable for their actions because there is no system in place to do so—and that needs to change. 

Hoffman's suggestion is that the industry "actively work on building a kind of industry-wide HR function." But that can't happen without a shift in mind-set. "VCs should understand that they have the same moral position to the entrepreneurs they interact with that a manager has to an employee, or a college professor to a student," he writes.  

Read Hoffman's post in full here. 

06.23.17 | 3:21 pm

Airbnb is testing out a way to split the cost for bookings

Airbnb is trying out group payments. "We're currently testing a way to split the cost of a trip on the Airbnb platform. This is a limited, initial pilot–our goal is to make it even easier to use Airbnb to travel with friends and family," reads a statement from Airbnb spokesman Tim Rathscmidt. The ability to split payments on the platform was first discovered by the Next Web. It's a new payment pilot built on the same infrastructure as its flexible payment options (a feature I discovered while booking my honeymoon recently). Airbnb is known for experimenting with ways to pay, but the sudden burst of innovation comes after it acquired Tilt.

06.23.17 | 2:08 pm

Here’s why it took Gmail 13 years to stop scanning your email to target ads

When Gmail debuted on April 1, 2004, one of its numerous innovations was the fact that it scanned the text of emails in order to target ads. Though that made the advertising more relevant, it also struck some people as an invasion of privacy, leading to lawsuits, snark from competitors, and a controversy that has dwindled but never quite disappeared.

But now Google is dropping the use of email scanning for ad-targeting purposes. As Bloomberg's Mark Bergen reports, the decision was driven by Google Cloud chief Diane Greene—an increasingly influential figure within the company—and addresses the concerns of business customers who aren't comfy with anyone (even a computer) nosing around in confidential communications.

The new policy also applies to the free consumer-oriented version of Gmail. But Google will still use what it knows about you to choose ads: It's just that it will make decisions based on your searches and YouTube habits rather than the contents of your inbox.

Here's the screen Google used to explain Gmail ads back in 2004: 

     

06.23.17 | 12:30 pm

The “stardust” wasp is a creepy-looking, 100 million-year-old tribute to David Bowie

As anyone who has seen Jurassic Park knows, amber can preserve specimens for eras. So when Longfeng Li, a student at China's Capitol Normal University, showed up at the Smithsonian with some specimens preserved in Burmese amber, researchers were able to identify them as two new-to-science species of wasps that were some 100 million years old. 

According to Science Daily, one of the wasps belongs to a genus (Proteroscelio) that scientists only know exists thanks to the fossil record from the Cretaceous period. The second wasp, meanwhile, actually still has living relatives: While that discovery surprised scientists, civilians are mostly impressed by the fact that the newly discovered wasp was named in homage to David Bowie. The wasp's scientific name is Archaeoteleia astropulvis. Astropulvis is Latin for "stardust" and given as a tribute to Bowie's alter ego Ziggy Stardust. Bless them, but scientists are such nerds, something we already knew from watching Jurassic Park

[Photo: Dr. Elijah J Talamas]