The hidden history of Nasas black female scientists


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The diversity of Nasas workforce in 1940s Virginia is uncovered in a new book by Margot Lee Shetterly. She recalls how a visit to her home town led to a revelation

Mrs Land worked as a computer out at Langley, my father said, taking a right turn out of the parking lot of the First Baptist church in Hampton, Virginia. My husband and I visited my parents just after Christmas in 2010, enjoying a few days away from our full-time life and work in Mexico.

They squired us around town in their 20-year-old green minivan, my father driving, my mother in the front passenger seat, Aran and I buckled in behind like siblings. My father, gregarious as always, offered a stream of commentary that shifted fluidly from updates on the friends and neighbours wed bumped into around town to the weather forecast to elaborate discourses on the physics underlying his latest research as a 66-year-old doctoral student at Hampton University.

He enjoyed touring my Maine-born-and-raised husband through our neck of the woods and refreshing my connection with local life and history in the process.

As a callow 18-year-old leaving for college, Id seen my home town as a mere launching pad for a life in worldlier locales, a place to be from rather than a place to be. But years and miles away from home could never attenuate the citys hold on my identity and the more I explored places and people far from Hampton, the more my status as one of its daughters came to mean to me. That day after church, we spent a long while catching up with the formidable Mrs Land, who had been one of my favourite Sunday school teachers. Kathaleen Land, a retired Nasa mathematician, still lived on her own well into her 90s and never missed a Sunday at church.

Read more: https://www.theguardian.com/books/2017/feb/05/hidden-figures-black-female-scientists-african-americans-margot-lee-shetterly-space-race


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Is Snapchat the new Facebook?


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As Snapchat plans the most eagerly anticipated technology IPO since its older rival floated in 2012, Rupert Neate examines the two companies striking similarities

Snapchat hopes its planned flotation in New York will value the five-year-old photo-sharing app company at up to $25bn (20bn) and turn its 26-year-old founder, Evan Spiegel, into the worlds youngest billionaire with a $5.5bn fortune. It is the most eagerly anticipated technology initial public offering (IPO) since Facebook floated in 2012 turning its then 28-year-old founder, Mark Zuckerberg, into the worlds richest man under 30. The similarities between Snap (the official name for the company that owns Snapchat) and Facebook are striking, and have got many financial analysts and advertising experts asking if Snapchat is the new Facebook.

How did they start?

Zuckerberg and Spiegel hit upon the ideas for their companies at university and then dropped out. Zuckerberg, a computer science major, began knocking up a website called Facemash, loosely based on Hot or Not, in his Harvard dorm room. The site evolved intoFacebook but not without a legal challenge from the Winklevoss twins, who sued Zuckerberg claiming he stole their idea.

Evan

Evan Spiegel could become the worlds youngest billionaire. Photograph: Jae C. Hong/AP

Snapchat was born out of banter between Spiegel and his Stanford fraternity brothers Frank Reginald Brown and Bobby Murphy. In 2011 the trio were discussing sexting and the need for a way to send pictures that disappeared.

As with Facebook, the genesis of the idea was disputed, and Brown sued Spiegel and the company. They settled out of court, with Spiegel, who was studying product design, and Murphy, a mathematics and computational science major, remaining majority shareholders with a 22.4% stake each.

How many users do they have?

Facebook had 900m users as it prepared for its 2012 flotation. Since then the social network has grown to 1.86bn monthly active users more than half the worlds population that has access to the internet. About 1.2bn check their Facebook accounts every day.

Snapchat has far fewer users, but the company claims they are much more engaged than Facebooks. Snapchat had 158m daily users at the last count. Two-thirds of them check the app every day and the average daily user visits the app 18 times a day, spending an average of 25-30 minutes a day sending snaps and watching snaps from their friends, celebrities and advertising brands.

Snapchat is only accessible via mobile phone. Snapchat claims to reach 41% of all 18- to 34-year-olds in the US each day.

How much are they worth?

Facebook has a market value of $373bn more than twice that of IBM. Facebook was valued at $104bn when it floated at $38 a share on the NYSE on 18 May 2012. Today the shares are changing hands at $131.

Facebook tried to buy Snapchat several times, and Spiegel has said Zuckerberg tried to force him to sell up. It was basically like, Were going to crush you, Spiegel told Forbes magazine. Spiegel rejected Zuckerbergs last $3bn takeover in November 2013. Facebook, which also owns Instagram, has since developed versions of 15 of Snapchats features.

Snaps IPO filings show the company is planning to float its shares at a level that would value the companyat $20-25bn.

How much control do the founders have?

Snapchats flotation is unusual. The company is not selling any voting shares, so the founders will controversially keep total control of the firm even after raising public money. Facebook has a voting structure that gives the founders far more rights than other shareholders.

How much money do they make?

Facebook made a profit of $10.2bn in 2016, up 177% on 2015. Its total advertising income was almost $27bn. But Facebook only turned its first profit in 2009.

Snap, which is spending a lot of money on expanding its user base, made a net loss of $515m in 2016 up on the $373m it lost in 2015.

Where does the income come from?

Both companies make their money from advertising at the expense of traditional advertising markets such as newspapers and TV.

Sir Martin Sorrell, chief executive of WPP, the worlds largest advertising company, has said his clients spent $1.7bn advertising on Facebook last year. That compares to $5bn WPP clients spent on Google ads, but is vastly more than the $90m spent on Snapchat.

Neil Campling, head of global technology research at Northern Trust Capital Markets, told CNBC: Snapchat is likely on a faster growth path than either Google or Facebook. Their opportunity is enormous and just beginning.

Snapchat has tried to differentiate itself from Facebook by not allowing adverts targeted directly at users interests or browsing history. I got an ad this morning for something I was thinking about buying yesterday, and its really annoying. We care about not being creepy, Spiegel said in 2015.

Facebooks advertising is sold entirely by computer program. Advertisers can visit ads.facebook.com, plug in payment information and create an advert. Those ads can be targeted as narrowly or broadly as the advertiser desires, and can be billed in a variety of ways, from paying a flat fee for every thousand views to payments per click, per like and more.

Where are they based?

Facebooks huge headquarters in Silicon Valleys Menlo Park has a green roof the size of seven American football pitches. The company employs more than 17,000 people across the world.

Read more: https://www.theguardian.com/media/2017/feb/03/is-snapchat-the-new-facebook


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Wall Street suffers worst day in months following Trump travel ban


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The market is reacting negatively because of the uncertainty it creates Wall Streets fear gauge surges in biggest rise since 9 September

US investors had their worst day in more than three months on Monday, as President Donald Trumps orders to curb travel and immigration from some countries sparked falls in all the major stock markets.

Trump on Friday signed executive orders to suspend travel to the United States from seven Muslim-majority countries on grounds of national security, while also banning refugees from Syria.

Thousands of people rallied in major US cities and at airports in protest. Goldman Sachs, Nike and Starbucks were among the companies that did not support the ban.

The market is reacting negatively right now because of the uncertainty that it creates, said Robert Pavlik, chief market strategist at Boston Private Wealth. If it can pull more Republicans off of the presidents following and maybe weaken his strength in Congress then you start to wonder about the other initiatives that may not get passed.

US equities hit record highs following Trumps election in November, encouraged by his promise of tax cuts and simpler regulations. However, the potential risk of Trumps protectionist policies and the lack of clarity since he took office have dampened the enthusiasm.

The Dow, which soared 9.2% in the aftermath of Trumps election, has managed to gain only 1% after his inauguration on 20 January and fell below the historic high of 20,000 that it hit last week. It closed the day at 19971, down 0.6%, the S&P 500 also fell 0.6% and the Nasdaq Composite dropped 0.8% as the CBOE Volatility index or Wall Streets fear gauge surged 16%, its biggest rise since 9 September.

Trump also signed an executive order that would seek to pare back federal regulations by requiring agencies to cut two existing regulations for every new rule introduced. But the move failed to impress investors.

Five of the nine declining sectors of the S&P 500, including financials and technology, were down more than 1%. Utilities and consumer staples considered defensive plays were slightly higher.

Facebook and Apple, which are scheduled to report earnings this week, were the top drags on the S&P 500. Other technology stocks trading lower included Alphabet and Microsoft. Airline stocks, including American Airlines, United Continental and JetBlue, were also down.

Read more: https://www.theguardian.com/business/2017/jan/30/wall-street-stock-market-fall-trump-travel-ban