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Business

Stitch Fix filed for an IPO, and here’s what we learned

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After months of speculation, Stitch Fix filed for its IPO on Thursday. 

The clothing subscription service bared all in its filing with the Securities and Exchange Commission. And it taught us a few things about a company readying to go public just as it faces competition from—who else?—Amazon. 

Business is good

Stitch Fix‘s business model is simple: it sends clothes it thinks you’ll like to your house to try. If you like what the startup sends, you can buy those pieces, and if not, you can send them back. You pay a $20 styling fee, but if you buy any of the items Stitch Fix sends you, the fee goes toward the price.  Read more…

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Jessica Lessin is optimistic about the news — and ‘The Information’ is doubling down

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It’s not exactly the best moment for news, what with a president intent on attacking journalists and the public’s abysmal trust in the media. So it’s a little surprising to hear how optimistic Jessica Lessin is about the future. 

But there are better days ahead for an industry that has been in a multi-decade, internet-enabled tailspin, she believes.

“The reason I’m optimistic is because we have a model that works for quality information in 2017, and it’s a subscription business,” Lessin said. 

When Lessin started The Information in 2013, the notion of a $400-a-year subscription-based publication was perplexing. Free journalism abounded and the tech scene that her outlet covered was already the subject of intense reporting. Who would pay for this kind of thing? Read more…

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Experts don’t know if the fake news problem will get more or less awful

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If you’re looking for good news about the future of false information on the internet, please close this little post and continue your search. Your eyes are wasting their time here. 

A Pew Research Center study published on Thursday polled more than 1,000 experts of various kinds on how they view the future of fake news. 

Here’s the survey question:

The results are decidedly mixed.

Just over 50 percent of respondents said the media environment won’t improve, while just under 50 percent said it will. 

Why are some experts so pessimistic? According to the study, the two most common reasons are that the “fake news ecosystem preys on some of our deepest human instincts” and “our brains are not wired to contend with the pace of technological change.” Read more…

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Business

Radio host discovers she got paid less than her male co-host. So he took a pay cut.

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Take note, men.

Comedians Dave Hughes and Kate Langbroek are both hosts on KIIS FM, a radio station in Sydney, Australia. They do the same job, ribbing off each other as you do on an afternoon show, but Langbroek was getting paid significantly less than her male counterpart.

“I found out last year that you get paid 40 per cent more than I do for doing this show,” she said on air back on International Women’s Day in March. 

Hughes was aghast at the revelation, and said he felt “terrible.” Up until that point, the pair had never discussed how much they get paid. Read more…

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5 tips to transforming your career with Jean Case

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Netflix now plans to spend $8 billion to keep you glued on your couch

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Netflix just keeps raising the ceiling on its content aspirations. 

The company officially announced that it could spend up to $8 billion on original video in 2018—a cool billion dollars more than it had previously planned

Ted Sarandos, head of content at Netflix, recently said publicly that the company could hit the $8 billion mark, but Monday’s quarterly earnings report made it official.

“With $17 billion in content commitments over the next several years and a growing library of owned content ($2.5 billion net book value at the end of the quarter), we remain quite comfortable with our ability to please our members around the world. We’ll spend $7-8 billion on content (on a P&L basis) in 2018,” Netflix wrote in its earnings release. Read more…

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