The MIT economist Peter Temin argues that economic inequality results in two distinct classes. And only one of them has any power. By Gillian B. White.
A US federal appeals court has ruled that employers are legally allowed to pay women lower salaries than men for doing the same work, based on differences in the workers' salaries in previous jobs. According to the Associated Press, the decision by the 9th US Circuit Court of Appeals overturned a previous lower-court ruling, according to which pay differences based only on prior salaries were discriminatory under the country’s Equal Pay Act.
Yesterday, the Federal Communications Commission announced the first step in its plan to kill net neutrality — reversing the Title II classification of internet service providers. Doing so will remove many regulations placed on big cable companies, allowing them to erect barriers and tolls that impede the free movement of data around the internet. You won’t hear Comcast or Verizon complaining, of course — this benefits them.
Google and Intertrust today announced the launch of PatentShield, a new program that aims to help defend startups from patent litigation — in return for a stake in those companies. The basic idea here is to give startups that join the program ownership of a selection of patents from Google’s and Intertrust’s portfolio that they can then use as a deterrent against potential patent litigation from established players in their fields.
United Airlines will offer up to $10,000 when a traveler voluntarily gives up a seat on an oversold flight, part of a policy overhaul following the passenger-yanking video seen around the world. The Chicago-based carrier is adopting 10 policy changes in response to the outcry over the April 9 incident, recorded by other passengers, during which aviation police pulled David Dao from his seat after he refused to exit the plane. Dao was one of four fliers selected to give up their seats to make room for airline employees.
Last weekend's New York Times profile of Uber CEO Travis Kalanick had plenty of important revelations about Kalanick and the company he runs, both of which have been facing some tough PR lately. But there was one incidental, almost throwaway line buried in the piece that made me stop in my tracks: "In other personal pursuits, he once held the world’s second-highest score for the Nintendo Wii Tennis video game."
How is it even possible that Elon Musk could build four multibillion companies by his mid-40s — in four separate fields (software, energy, transportation, and aerospace)? To explain Musk’s success, others have pointed to his heroic work ethic (he regularly works 85-hour weeks), his ability to set reality-distorting visions for the future, and his incredible resilience. But all of these felt unsatisfactory to me. Plenty of people have these traits. I wanted to know what he did differently.