Court Rules That Code Isn’t Physical And Cannot Be Stolen, Only Copied
In December of 2010, former Goldman Sachs programmer Sergey Aleynikov was convicted of theft of trade secrets when he took some exclusive code out the door with him. This past February however, Aleynikov's conviction was overturned due to a ruling in 2nd Circuit Court of Appeals. Now, the court's opinion has finally been published and it's been made clear exactly why this conviction was overturned; code is not a physical object and cannot be stolen. The code was not stolen from Goldman Sachs, only copied. Since Goldman Sachs was not deprived of its use, it wasn't theft.Read on...
Report: Zynga to File for IPO as Early as Today, Implies a $15 to $20 Billion Valuation
CNBC reports that Zynga, casual and social video game developer most noted for their Facebook farming sim FarmVille, plans to file for their initial IPO, possibly as early as today. Zynga aims to raise around $1.5 billion to $2 billion as part of the IPO, and is rumored to have selected Morgan Stanley to lead the deal, while Goldman Sachs will follow in the number two position. The size of Zynga's valuation could imply an enormous $15 billion to $20 billion valuation -- if not higher -- if they follow the low-float model, a strategy in which companies sell a very small portion of their stock at a time in order to game and increase the value. If Zynga's IPO doesn't bomb, so to speak -- and it's really looking like there is absolutely no reason for it to do so -- then the real effect its success could have could easily shape the gaming landscape, inspiring even more companies to develop casual, social, shallow games and depart from the deeper, more hardcore titles. In a move no doubt inspired by the popularity of social games, one of the most popular franchises of modern times, Call of Duty, was recently announced to receive its own social upgrades. What the more hardcore gamer has to worry about regarding Zynga's IPO if it is wildly successful, is if other, more hardcore game developers were paying attention. Hopefully not, right? (via CNBC)Read on...
Goldman Sachs’ Secret Web War with the White House Over Google Search Ads
ABC News is reporting that the Obama White House, in response to the SEC's suing Goldman Sachs for fraud, bought an ad for the Google search terms "Goldman Sachs SEC" as part of an online ad campaign for financial reform. A simple search for those terms led to a page titled Organizing America that serves as a call to action for people frustrated with Wall Street. According to Phil Noble, founder of Politics Online:
A keyword search for advertising is nothing new, but they have incorporated keyword searches into their daily war room activities. These guys are reacting to what's in the news and creating a minute-by-minute strategy.Goldman Sachs' people weren't slouches about it either:Read on...