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Showing posts with label facebook. Show all posts
Showing posts with label facebook. Show all posts

Wednesday, January 16, 2013

Facebook launched Graph Search

1:27 AM  facebook, google, graph search, hacebooh graph, search engines, social search  No comments


FACEBOOK Takes On Google, But Private, Personalized, Social Search Has No Clear Winner Yet


Screen Shot 2013-01-15 at 18.57.55
Facebook launched Graph Search today, its own version of a private, personalized social search engine. It’s somewhat of a competitor to Google’s “Search Plus Your World” – Google’s more recent take on blending personal data with that of the greater web. Although Facebook CEO Mark Zuckerberg was careful to frame it as not being a web search product, that statement was not entirely accurate. It is web search, after all – it’s search and it’s on the web. It’s just not web search as we know it.
Don’t be mistaken – these two companies, Google and Facebook, are now battling for your private data, and to some extent they’re both betting on personalization as the future of search.
Facebook, as we know, has over 1 billion users, and today noted that it has over 240 billion photos as well, and “more than a trillion connections.” In other words, it’s home to a wealth of private data, which Google can’t know about and index. A vast landscape built in Google’s blindspot. That’s a niche it would be ignorant to ignore, obviously.
Whether that niche is the definitive future of search, however, is yet to be proven.
Facebook Graph Search, the company says, is rolling out slowly. It will leverage the social network’s own private data, honoring users’ privacy settings in the process of building this new search engine. Some things aren’t yet included, like individual Facebook posts and Open Graph actions (like song listens), the company says. But they’re coming.
Screenshot-PeopleWhoLikeThingsILike
It will make Facebook far more usable, and will therefore suck up even more of users’ time from Google Sites, which will be another blow to Google’s ads business.
Facebook users will be able to search for friends, photos, restaurants and businesses nearby, games and music friends play, photos friends like and more. Much of this you can do on Facebook today, it just hasn’t been well-organized. Facebook currently has a search interface, but Graph Search will re-envision Facebook Search for a more powerful combinations of various search queries – “restaurants in New York liked by chefs,” “cities my family have been to,” “photos of friends from before 1999,” etc. Facebook Search is all about exploring your personal social connections, and those across Facebook.
Screenshot-PeopleNamedChris
This is a major step forward for defining what Facebook is to users: a social network turned search engine. And while it’s true that Facebook has leveraged a wealth of private data to build its engine on top of, it’s not the only company which is capable of doing so. Yes, Google may be starting from the other direction (search -> social instead of social -> search), but it’s not powerless here, despite the giant, and growing, private web behind Facebook’s doors.
Google, too, has been building its own social graph of sorts for its user base. While those visiting the destination site Google Plus may chalk up Google’s social efforts as that of building a Facebook clone with a few Google-fied bells and whistles, like video Hangouts, for example, Google’s true social efforts lie in unifying its user data across all its properties and services. Over the past year or so, Google has shut down unneeded and underused services (yes, including social search startup Aardvark!). It has combined its various user Privacy Policies into one, and have made users’ Google login the identification they use everywhere on Google from checking email to watching YouTube to searching for answers. It has streamlined Google and added a social layer to all of it.
YouTube is a pretty big social network, too, when you think about. 800 million monthly uniques. And Google hasn’t even fully realized the potential of switching on social on its mobile install base, via Android.
The company has access to other private data, too, which recently became available for public search tests. In August, it began letting users search their Gmail messages using Google.com. December, it then enabled an opt-in feature that lets users search for their online purchases, reservations, and other events using Google.com. The trick here is being able peer in users’ inboxes, and identify messages like order confirmations and receipts. It only feels vaguely intrusive because we believe our email is private. It’s not.
And Gmail, one could argue, is a social network filled with far more practical data for searching than “which photos my friends liked.”
Yet when it comes to the less practical – those photos, for instance – Facebook has the clear edge. 240 billion photos is just massive scale. Google, meanwhile, has let its Picasa photo-sharing service stagnate, confusingly, while also offering Google Plus Photos in its main social product. It’s time that Google stepped up its game on this front, and begin to merge the two properties properly, and transition users. (As a side note, Google offered instant (automatic, background) photo uploads from mobile a year and half before Facebook did. It also now has a dedicated easy upload app for YouTube.)
Photos could easily be Facebook’s battle to win.
As for the other data – venues suggestions and recommendations, travel ideas, etc. – well, remember that Google bought Zagat in 2011. Yes, Google saw this whole thing coming. Who hasn’t? Google is still making good on that purchase, too, having only recently relaunched Zagat on mobile. It has also merged Google Places (its business listings) into Google Plus Local. In Google’s preferred vision of the future, you might search for a restaurant, dine, rate and review the meal, and pay the establishment, all on Google. This could happen. That’s a lot of proprietary data, too.
Perhaps the biggest reason of all as to why the search battle is just now beginning is because we don’t yet know that search built on social search will definitely win long-term. Does social show early progress, in terms of Facebook ads, and specifically Exchange Ads? Yes it does. Can it transition that to mobile? Also possible.
Social search, likes, recommendations, etc., however, are built upon a potentially flawed idea: that our friends know best. They do not. Not always. Some friends have different tastes, and different interests. And some have just poor taste, let’s be honest. Does the fact that a friend bought a G&E washer mean I should too? (Maybe it was just on sale.) Does a friend’s check-in at Chez Louie equate to a recommendation? (Not without their accompanying rating or review. The food may have been terrible.) My friend went to Uruguay – should I consider that for my vacation? (They may have hated their hotel, who knows?).
A check-in, a place, a photo is not an answer. There’s more data needed here.
Then what about Facebook Likes? Sadly, Facebook advertisers have corrupted that data – “like our page for a coupon or deal!” Okay, liked. Hmm, now does the need for a discount mean a recommendation for a brand, though? That becomes less clear the more promotions are run.
Screenshot-PhotosOfFriendsBefore1999
While building a graph around what our friends and network is doing is an obvious no brainer for Facebook, it’s not necessarily the “next new thing” for search.
And if social is not the future of search, or if it’s only one small part, where then, is search going?Real answers. Facebook alluded to this in its announcement, saying exactly that: Graph Search is about answers, not links. But it doesn’t yet really have them.
Google is building its own answers engine too, however. It launched Knowledge Graph Search last year, which now delivers answers to fact-based questions. It launched a predictive, personalized search interface called Google Now on mobile, which knows what you need to know…and before you know you need to know it. That’s pretty disruptive.
Facebook is welcome entrant in search, but the games aren’t over just because it finally stepped onto the field.

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Tuesday, October 16, 2012

Facebook R&D Goes Global: Opens Engineering Office In London, Its First Outside The U.S.

9:45 PM  facebook, facebook london office, facebook r and d  No comments


george osborne

With the majority of Facebook’s 1 billion users, and subscriber growth, now coming from outside the U.S., the company is taking ever more steps to building out its global footprint to reach that audience. To that end, today Facebook opened up an engineering center in London, its first outside of the U.S. and is now hiring for people to staff it, following through on an announcement it first made inJuly.
This is both a good and bad thing, I think, for the London tech scene. On the one hand, it’s a sign of how the city is a magnet for good talent, and that Facebook — like Google, Amazon and others — see this as a natural base for developers in their global aims.
On the other, we have already heard smaller companies lament about how big companies like Google — and, incidentally, the financial industry — are major talent magnets when it comes to developers and other tech specialists in London. (That disparity has spawned events like the Silicon Milkroundabout to carry the flame for startups.) Having Facebook here, with its current status as an employer in great demand — could make the process of attracting engineering talent to smaller startups even more challenging.
Facebook is putting one of its top engineers in charge of London. Philip Su has previously led on Facebook’s Skype integration, and others on what Facebook calls its “landing team” have helped develop such central FB features such as the App Center, Timeline, Ticker and photo products.
That points to Facebook more or less creating a mirror structure here in London, working in a number of different areas rather than focusing necessarily only on services it might roll out outside the U.S.. Indeed, even those who are already getting recruited to work in London will still go through Facebook’s bootcamp in Menlo Park before joining the UK team later this month. The only steer that Facebook has given so far on what engineers will cover in London are that the engineers will work on a “range” of products including Facebook’s platform and mobile products. (Just as international is a big growth area for Facebook, so is mobile.)
That also means it will be run slightly differently from Facebook’s operations center in Dublin — which oversees areas like customer help and advertising sales for all regions outside of North America and so has a different geographical focus compared to Facebook’s California HQ.
“We’re excited to be building our first major European engineering centre in a city that is rapidly emerging as a global technology hub,” Facebook VP of Engineering Mike Schroepfer said today at an event that also had the UK’s Chancellor of the Exchequer George Osborne in attendance (pictured above). “The London Engineering team will play a crucial role in development of future products and core technology for Facebook.”
It should be pointed out that while this is Facebook’s first engineering center outside the U.S. it’s not Facebook’s first move to bring engineers to London. Given that London is a center for digital advertising, Facebook’s already had people on the ground here working with local agencies on social marketing services.
Facebook, citing data from Deloitte, says that the Facebook ecosystem has already contributed to the creation of 35,200 jobs in the UK (and only 30,000 hours of time wasted at work checking your FB account.. I kid!) Some 7,500 of those jobs are in the area of creating and monetizing Facebook apps, worth some £500 million annually.

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Tuesday, August 28, 2012

Meet Facebook’s Oldest User

7:59 PM  fac, facebook, Facebook headquarters, facebook oldest user, Facebook Public, Mark Zuckerberg  No comments


There are 955 million active users on Facebook — and not all of them are in their teens or 20s. The fastest-growing demographic on the service, for at least the last two years, has been women over 55.
And with that in mind, we invite you to meet the delightful Florence Detlor, 101 years young. According to Facebook, she has the distinction of being the service’s oldest user. She’s also the oldest person to visitFacebook HQ, where she met with COO Sheryl Sandberg, along with a guy young enough to be her great-grandchild: Mark Zuckerberg, CEO and founder.
Sandberg posted the above picture on her Timeline early Monday, along with the caption: “Honored to meet Florence Detlor, who at 101 years old is the oldest registered Facebook user. Thank you for visiting us Florence!”
The photo has garnered more than 5,000 Likes — and comments from users with 102 and 103-year-old grandparents, both eyeing Florence’s title.
According to her profile, Florence graduated from Occidental College in 1932. She lives in Menlo Park — coincidentally enough, where Facebook is now headquartered — and is “looking for a good book to read.” She joined Facebook three years ago this month, in August 2009.
[via AllFacebook]

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Wednesday, May 23, 2012

Facebook’s Road to IPO

3:46 PM  facebook, Facebook IPO, Facebook IPO 2012, Facebook’s Road to IPO  No comments


2004: First Offers Turned Down
Facebook launches with humble beginnings that most people have seen dramatized in The Social Network by now. It was a small social site backed by only a little money, and limited just to the undergrads at Harvard. Right out of the gate, Facebook turned down offers from an unknown investor and Friendster, each offering $10 million. This was, of course, when the company was still called TheFacebook.
Image courtesy of Flickr.

2005: Serious Interest
By 2005, “TheFacebook” was becoming more and more interesting to potential investors. They waved off bids from the likes of NBC, The Washington Post Group, and two separate attempts from both MySpace and Viacom/MTV.
Image courtesy of wwwes; Flickr.

2006: Microsoft & Yahoo Come Calling
Facebook became more legitimized as it moved into more colleges, and then expanded to the public. Microsoft signed a large advertising deal with Facebook, an event that began a long, positive relationship between the two companies.
Just a month later, Yahoo made a $1 billion offer to buy Facebook, but it was rebuffed after Yahoo’s stock dropped and the company had to lower to $800 million.
Image courtesy Ludovic Toinel; Flickr.

2007: Forging an Alliance
After a lucrative advertising relationship, Microsoft invests heavily in Facebook, putting in $240 millionfor 1.6% stake in the company. This raised Facebook’s estimated worth to $15 billion, after only three years of existence. Despite this, Zuckerberg said the possibility of an IPO is “years out.”
Image courtesy of iStockphoto, michalPuchala

2008: Valued at $4 Billion
In an interview with 60 Minutes in January, Mark Zuckerberg said there was no chance of a Facebook IPO that year. In August, Facebook gave itself a valuation of $4 billion, then began letting fully vested employees sell 20% of their stock based on that valuation.
Image courtesy of 60 Minutes.

2009: More Investment
Facebook gets $200 million investment from Russian Digital Sky, who bought 1.96% of the company with that. That investment raised Facebook’s valuation to $10 billion.
Two other estimates of wealth came out later in 2009 that lowered Facebook’s valuation, probably as more terms of the deal with Digital Sky became clear.
Image courtesy dborman; Flickr.

March 2010: Zuckerberg Talks IPO Rumors
Zuckerberg is still coy about an IPO, saying there is “no rush,” and proving that Facebook doesn’t need the money.
Image courtesy of JD Lasica; Flickr.

November 2010: Valuation Climbs
Trading on secondary markets suggests Facebook is the third most valuable web company in the United States. As private investors sold their stakes, valuations of the company soared as high as $56 billion.
Image courtesy Dan Farber; Flickr.

January 2011: First IPO Moves
Goldman Sachs and Digital Sky Technologies drop a massive $500 million cash infusion into Facebook, pushing its value upwards of $50 billion. According to USA Today, that valuation exceeds companies like eBay and Nike.
Facebook also launches an $1.5 billion equity offering through Goldman Sachs, letting some private investors buy a piece of Facebook.
Image courtesy of AMagill; Flickr.

June 2011: The $100 Billion IPO?
Reports circulate that Facebook’s IPO could exceed $100 billion, and that it might go public during the first quarter of 2012.
Image courtesy of Andrew Feinberg; Flickr.

January 2012: IPO Imminent
Facebook halted trading of its shares in secondary markets for three days starting Jan. 25, a possible indicator the company’s long-awaited IPO is coming soon.
The signs were correct, as Facebook announced its IPO on Feb. 1, ending the stream of speculation.
Image courtesy J. Fudyama-Powers; Flickr.

April 2012: Facebook Purchases Instagram
Facebook announced it was purchasing popular photo-sharing service Instagram for $1 billion in April. The deal was reportedly brokered by Zuckerberg himself, and was a major acquisition for the company.
Image courtesy of iStockphoto, sd619

May 2012: Facebook Goes Public
Facebook is set to go public May 18, and the IPO could raise $90 to $104 billion. No one can be sure until trading closes though.
Image modified, courtesy Robert Scoble, Flickr.

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Monday, May 21, 2012

Pakistan blocks Twitter over 'blasphemous' images, report says

12:59 AM  block, censorship, facebook, Pakistan, twitter, Twitter bock in pakistan  No comments


The Pakistani government blocked access to Twitter over potential "blasphemous" caricatures of the prophet Muhammad (PBUH), according to several reports.
Twitter was asked by the government to stop a discussion about a contest over Muhammad caricatures, something it refused to do. As a result, access to the site has been blocked, according to the Express Tribune. The Pakistan Telecommunications Authority passed down the directive to Internet service providers in the country, and said it couldn't say how long the site would be blocked.
Access to Twitter in Pakistan was later restored on orders from Prime Minister Yousaf Raza Gilani, according to a report in the Express Tribune.
CNET contacted Twitter for comment. We will update the story when we get a response.
The discussion was about a competition to post images on Facebook. Facebook has agreed to address the concerns about the competition, according to Pakistani blog Dawn.com.

Some governments are wary of Facebook's and Twitter's ability to offer citizens a way of communicating and rallying for change. The sites played a critical role in the toppling of governments such as the one in Egypt, and they remain blocked in countries such as China.Many Muslims consider any image of Muhammad, whether they are positive or negative, to be blasphemous.

Facebook's site was banned for two weeks in Pakistan two years ago for running a similar contest. The move ignited protests in Pakistan, but Facebook eventually blocked the offending content

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Mark Zuckerberg gets married at surprise wedding

12:46 AM  facebook, Mark Zuckerberg, Mark Zuckerberg marriage, Married, Palo Alto, Priscilla Chan  No comments


The day after Facebook's giant IPO, Mark Zuckerberg married his longtime girlfriend, Priscilla Chan.
(Credit: Facebook)
By almost any standard, Mark Zuckerberg has had a week to remember. Yesterday, he started his day off by ringing the Nasdaq bell and taking his social-networking company public, raising $16 billion in the process. Earlier in the week, his longtime girlfriend Priscilla Chan graduated from medical school. And today, just for good measure, the two shocked a bunch of friends and family with a surprise wedding in the Facebook CEO's backyard.
A look at Zuckerberg's Facebook page reveals that he is now "Married to Priscilla Chan." That was not the case yesterday, the day that the company went public in a spectacularly hyped IPO that may have ended up a bit of a dud.
The AP reported that the guests had been under the impression they had been called together to celebrate Chan's graduation. After they arrived, they found out that the event was, in fact, a wedding ceremony."Zuckerberg and 27-year-old Priscilla Chan tied the knot at a small ceremony at his Palo Alto, Calif., home, capping a busy week for the couple," a guest authorized to speak for the couple told the Associated Press. "The person spoke only on the condition of anonymity."
"Everybody was shocked," the guest told the 
Today, Facebook CEO Mark Zuckerberg changed his marital status to married.
(Credit: Screenshot by CNET)

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Friday, May 18, 2012

What the Facebook IPO Means

11:18 AM  facebook, Facebook IPO, Facebook IPO 2012, Facebook Public, Facebook Revenue, Facebook-Goes-Public, Women In Tech  No comments


It's electrifying here in Silicon Valley this week, even more so than usual. Normally, many of us are heads down, focused on our own companies, but right now, even in the land of "what's next?" all anyone can talk about is the Facebook IPO.

This week marks the dawn of a new era. Facebook going public -- with a billion users worldwide and $3.7 billion in revenue -- confirms that Facebook is doing to Google today what Google did to Microsoft nearly a decade ago. It's hard to believe that it's been eight years since the Google IPO.
What's changed since Google was the new, hot company that toppled Microsoft in consumers and investors' hearts?
For one, consumer behavior has changed. In the Google era, people learned to search for information, products, and businesses. But over the last five years, Facebook has altered online behavior. In the Facebook era, people now choose to share and discover rather than simply search for information.
A growing number of people worldwide now get their news as well as learn about products and services through what their friends are reading, liking, and buying -- all this, of course, is broadcast through the Facebook news feed, Twitter streams, and LinkedIn Today.
As a result, Facebook replaced Google as the most visited site in the U.S. in 2010, according toExperian Hitwise. Now, Facebook is even overtaking Google in the amount of traffic it drives to third-party sites, including Guardian UK. By establishing trusted graphs of friends and brands one likes or follows, social networking sites have transformed the way people are making important decisions such as what to read, what to buy, where to buy, and whom to hire.
Hence the $3.7 billion in revenue. And this is just the beginning.
The future is bright
Indeed, Facebook's best days are still ahead. There is strong near-term upside in the new ad formats they have created. New Facebook ad products like Sponsored Stories and Reach Generator, which broadcast Business Page "likes" and posts to wider audiences, are already showing great promise by driving conversion rates higher for marketers.
In the medium term, Facebook is well positioned to monetize on mobile, payments, and international growth. Over 55 percent of its 901 million users are active on Facebook Mobile, and this number just keeps growing as more people get smartphones. In its S-1, Facebook disclosed it already generates nearly 18 percent of its revenue from payments generated from the 30 percent "tax" it charges for transactions involving virtual or digital goods (think vegetables in Farmville -- the broccoli adds up!). On the international front, Facebook has had great user growth but only scratched the surface in terms of monetization.
Long term, the possibilities are endless. The convergence of Facebook and well-established online business models such as search, commerce, and ad networks could be very compelling for consumers, in addition to being lucrative for Facebook. For example, why couldn't search be social? If I search for "digital camera," why should I see the same organic and paid results as my 11-year old niece who would respond much better to a lower-end model that's pink? And why should she or I see the same results as my husband's friend who is a professional photographer and would clearly be interested in a very different kind of digital camera?
Facebook could also partner or compete head-on with traditional offline channels such as TV, digital dashboards in automobiles, and smart billboards enabled with near field communication that tailor their displays to whomever may be nearby.
In conclusion
Silicon Valley is roaring again. From LinkedIn, Zynga, and Yelp to Facebook and its rapidly expanding partner ecosystem, innovation is alive and well. A heartfelt congratulations to the team at Facebook on their IPO and, indeed, for changing the world. Stay focused and keep shipping.

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Ruchi Sanghvi, Facebook's First Female Engineer: 'It Was Difficult To Break Into The Boys' Club'

11:10 AM  facebook, Facebook Boys Club, Female Engineer Facebook, Female Engineers, First Facebook Female Engineer, Ruchi Sanghvi, Ruchi Sanghvi Facebook First Female Engineer, The Boys Club, Women In Tech  No comments

Ruchi Sanghvi Facebooks First Female Engineer




When Ruchi Sanghvi arrived for her first job interview at Facebook's headquarters, no one was there.
It was the fall of 2005 and when she reached thestartup's graffiti-covered offices in downtown Palo Alto at noon, they were empty. Two hours later, she was still waiting. At 3 p.m., someone finally arrived to interview her -- the engineers had been up all night coding and slept in, she learned later.
Sanghvi was undeterred. Impressed by the place, the people, and the product, which she had spent hours using as a student at Carnegie Mellon University, she became Facebook's first female engineer, one of the first 10 engineers hired by the company.
Sanghvi's five-year career at Facebook underscores the meritocratic nature of the startup world, where a bright, young engineer like Sanghvi, who was raised in the industrial town of Pune, India, and didn't regularly use a computer until her freshman year of college, could play a key role in shaping one of the world's most influential web companies.

Yet her experience also sheds light on the challenges female engineers faced then -- and still face -- in a male-dominated field. Sanghvi's story illustrates that despite all the talk of equality between the sexes, women often grapple with a unique set of difficulties when it comes to finding role models in the engineering field and making inroads into what she called "the boys' club."

During her tenure at Facebook, Sanghvi not only watched the company explode into a global network with a population greater than that of the United States, but also built the social network's most defining features. She launched News Feed, which radically changed the Facebook experience by putting friends' online activities front and center on the site; Platform, an update that allowed third-party developers and entrepreneurs to build apps on Facebook; and Connect, which made it possible for people to link their Facebook identities and friends to almost any site on the web.

The products she developed helped propel the site forward and also rewrote the rules of the web, eroding anonymity on the Internet and ushering in a new age where peoples' real names were attached to everything they did online. Sanghvi describes this connection between offline and online identities as the next big idea in tech, one that will reshape everything from e-commerce to health care.

"Facebook has woven itself into the fabric of our lives and the foundation of the Internet," Sanghvi said. "I think everything will be redefined because people are using their real identities on the Internet."
Sanghvi said she was used to being the odd woman out -- she was one of five female students out of 150 in a course in the Electrical Computer Engineering department -- and at Facebook, she again found herself on a team with only a handful of female engineers.
Though she looks back fondly on her time at Facebook and describes it as "one of the best companies to be working at right now," she said her male co-workers enjoyed a certain camaraderie that she could not match or fully penetrate.
"It was difficult to break into the boys' club," Sanghvi said. "I wish that females had a similar culture or support network."
Sanghvi said the male engineers on her team created a "brogramming page," presumably only for the Facebook "bros" who were programming. She recalls having to change her working style to adapt to the "aggressive" environment, a shift she said affected how she was perceived.
"Engineers are either aggressive or passive aggressive. You need to just dive straight into it, and sometimes there are social repercussions because of it," Sanghvi explained. "The impression that people had of me was that I was really harsh, hard-edged, brusque and to the point. All of that happened because I am a woman, and I was acting in that kind of environment."
Facebook declined to disclose what percentage of its current total staff and engineers are female. The company does not have any affirmative action programs or quotas in place to attract female engineers, though Facebook supports and funds interest groups, such as Facebook Women or Women Engineers, that its employees create.
"Increasing the number of women in the tech sector is hugely important to Facebook," a Facebook spokeswoman said. "We want our company to reflect the diverse global community that we serve."
Facebook COO Sheryl Sandberg has also been an outspoken advocate for increasing the number of female leaders.
"Men run the world," Sandberg said in a May 2011 commencement address delivered at Barnard College. "We need women at all levels, including the top, to change the dynamic, reshape the conversation, to make sure women's voices are heard and heeded, not overlooked and ignored."
To Sanghvi, increasing the number of women in tech requires not only HR initiatives, but also having more female role models in engineering, computer science and other technical fields.
"Kids in college often look for mentors and role models to model their careers after, and women don't have the equivalent of a Steve Jobs or Bill Gates," Sanghvi said. "I think it's a self-perpetuating loop."
She also noted that women must ultimately be proactive about choosing their fate, and shared what she said is the most important lesson she's learned thus far in her career: "If I don't ask for something, I'm not going to get it."
Even as she is candid about the challenges she faced at Facebook, Sanghvi, who left in 2010 to start her own company, Cove, praised the tech industry for consistently rewarding excellence and ability above all else.
"It may not be a meritocracy, but it is the closest thing to a meritocracy in the working world,” she said. “I think that itself is very powerful."

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Thursday, May 17, 2012

BANNED FROM THE USA: Billionaire Facebook Cofounder Could Be Barred From America After Renouncing Citizenship

2:58 AM  facebook  No comments

Eduardo Saverin




Facebook cofounder Eduardo Saverin has renounced his US citizenship. Doing so, he will probably save at least $67 million in taxes.…but he's also liable to be "excluded" from physically re-entering the United States. So reports Talking Points Memo's Josh Marshall: US immigration law does not look kindly on former citizens who renounce their citizenship to avoid US taxes. Specifically, it doesn’t look like Saverin should ever be able again to get a Visa to enter the United States. Sec. 212. [8 U.S.C. 1182] details general classes of alients ineligible to gain entrance into the United States. And the law specifically references people in Saverin’s category … "Former citizens who renounced citizenship to avoid taxation.-Any alien who is a former citizen of the United States who officially renounces United States citizenship and who is determined by the Attorney General to have renounced United States citizenship for the purpose of avoiding taxation by the United States is excludable"
Funny, Saverin was also barred from Facebook once-upon-a-time.
Follow Nicholas Carlson on Twitter.

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