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Napster Cofounder Sean Parker Just Bought Ellen DeGeneres' House For $55 Million

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Ellen Degeneres House 33

Napster cofounder Sean Parker just paid a whopping $55 million for Ellen DeGeneres' 9-bedroom Los Angeles mansion, according to TMZ.

After only a few months in The Brody House — yep, the house has a name — DeGeneres decided to flip it for $15 million in profit. She reportedly did not intend to flip it, but Parker approached her last month with an offer, and the deal closed in eight days.

DeGeneres, famous for her house-hopping as much as her status as America's nicest funny woman, reportedly laid down $40 million for the house, which is located in the exclusive Holmby Hills neighborhood of Los Angeles, according to TMZ.

Sitting on 2.25 acres next to the Playboy Mansion, the property was commissioned by philanthropists Sidney and Frances Lasker Brody in 1949. The home was impressive in its own right (TMZ calls it "the best house in L.A.), but its unnamed second owner had it renovated in 2010, ostensibly to flip it.

Designer Stephen Stone increased the size of the kitchen, turned the top floor into a second master suite with a study, updated the pool, and added a koi pond. But he did keep the landscaping intact along with some original parts of the house.

Unfortunately, we only have photos of what the home looked like pre-renovation, since it never officially hit the real estate market. But even so, they are pretty remarkable:

Most of the renovations to the house took place indoors. The entryway and landscaping were left intact, only spruced up.Ellen Degeneres House 2

The home still opens to a spacious living area and slatted stairs.Ellen Degeneres House 4

The sprawling ficus, deemed too invasive, in the atrium was replaced with some rare palms.Ellen Degeneres House 8

All the bathroom fixtures were updated from this pre-renovation photo.Ellen Degeneres House 22

Stone installed a new pool in the same space and style of the old one.Ellen Degeneres House 26

The home comes with tennis courts that received a new fence in the renovations.Ellen Degeneres House 28

SEE ALSO: 13 Recent Home Sales That Show How Crazy San Francisco Real Estate Has Become

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19 Pencil Drawings That Trick Your Mind Into Thinking They're 3-D

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BIRD Alessandro Diddi 3D drawing art

Anamorphic drawings are two-dimensional drawings that, when viewed from a single point of view, seem to leap off the page. Graphic artist Alessandro Diddi has mastered them.

Diddi is an Italian designer who began working on the 3D-looking art in 2013. "The first drawings helped me to learn the basics of the technique and, once I got assimilated, I began to catch a glimpse of the expressive possibilities that this [medium] could offer," Diddi told Business Insider via email.

To create the 3-D illusions with just graphite and paper, Diddi says he has to consider practical aspects (design, photography, and lighting) and psychological aspects (what the observer thinks he or she is seeing). His photos of the art often includes a pencil in them to immediately remind viewers that the items are 2-D.

Diddi's drawings will be shown on July 19 at Santa Monica's "Masters of Illusion" exhibit. Here are some of his mind-blowing works of art.

"Door and stair"



"Guitar"



"Ring"



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An Economist Has Put Together The Ultimate Guide To The State Of The Job Market

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SLOK LaborMkt_Jul page23

Last Friday, we got one of the strongest BLS jobs reports of the post-recession era.

Deutsche Bank's Torsten Slok has taken this as a cue to compile 26 charts that explain the state of the U.S. labor market.

The biggest takeaway here is that we seem to be turning a corner in all the jobs areas that have been lagging for more than five years, especially government and construction.

However, some measures, like gross jobs gains by company size are still lagging.  

And there's one shocking statistic at the end about full-time versus part-time jobs.

Monthly payroll growth has been consistent.



The 12-month moving average for all but one sector is now positive.



We returned to pre-recession levels in May.



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The 17 Most Exciting New Tech Products That Will Launch Before The End Of The Year (AAPL, MSFT, GOOG)

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iWatch Concept

The year is halfway over, but there's still plenty of time for new major tech products to hit the market.

Here's a look at the most important stuff we're expecting to launch before the end of 2014. 

All eyes are on Apple's iWatch.

Apple is expected to launch its first major new product, the so-called iWatch, in October

According to numerous reports from sources like 9to5Mac, the iWatch will focus heavily on health and fitness monitoring. For example, it'll be able to track your steps, hydration, heart rate, and other vitals. The iWatch is also said to have a screen that'll display notifications from your phone.



The new version of Android will make your battery life a lot better.

Google recently introduced Android L, its upcoming version of Android that comes with a nifty new design. Android L also has a feature called Project Volta that will greatly improve your smartphone's battery life.

Android L will launch this fall on Google's own Nexus smartphones and tablets.



iOS 8 will help your iPhone catch up to Android.

On the surface, Apple's new operating system for iPhones and iPads, iOS 8, doesn't look much different than what you're using right now (assuming you've upgraded to iOS 7). But Apple added a bunch of handy features, including several that Android users have been enjoying for years

For example, you'll be able to install customized keyboards, respond to text Messages without opening the messages app, and add widgets to the Notification Center.

iOS 8 will be available this fall as a free download.



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Step Inside Napster Cofounder Sean Parker's New $55 Million Mansion

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sean parker house

Napster cofounder Sean Parker just paid a whopping $55 million for Ellen DeGeneres' nine-bedroom Los Angeles mansion, according to TMZ.

DeGeneres bought the house for $40 million earlier this year, and while she didn't intend to flip it, Parker reportedly approached her with an offer and the deal was inked in just eight days, leaving DeGeneres with a nice $15 million profit.

While we couldn't get our hands on any pictures of the renovated house, we were able to put together a tour of the home, called The Brody House, pre-renovation. We can only imagine what it looks like now if this is what they were starting with.

The house is located in the exclusive Holmby Hills neighborhood of Los Angeles.



The property was commissioned by philanthropists Sidney and Frances Lasker Brody in 1949.



It sits on 2.25 acres of land.



See the rest of the story at Business Insider

13 Exclusive Clubs For The Next Generation Of New York Socialites

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Soho House NYC

New York's elite have long belonged to exclusive and closely guarded social clubs.

But a new generation of social clubs has cropped up to replace stuffy mainstays like the Metropolitan Club and the University Club, and young people are flocking to them.

From clubs centered on shared interests to social societies, these are the best private clubs in New York City for the young and fabulous. 

Norwood Club is for artsy jet-setters.

If you're a cool, rich, artsy New Yorker, Norwood Club might be for you.

The exclusive club opened its doors in 2007 at 241 West 14th Street. Membership is more based on who you know and how important you are, and attracts an international, art-centric crowd. Mary Kate and Ashley Olsen were rumored to be members.

The clubhouse doubles as a nightclub and houses a restaurant, three lounge bars, a 45-seat screening room and event space, as well as a private dining room for up to 24 people. There's also a walled garden.

If you plan to apply, brush up on your art knowledge. Some questions from the application include, “What is your involvement with the Creative Arts?” and “Who would you most like to collaborate with?"

Cost: $1,000 annually with dues of $750



FoundersCard is for up-and-coming entrepreneurs.

Although not limited to NYC, FoundersCard boasts a global membership of over 15,000 entrepreneurs.

In addition to a shiny card, the club hosts networking events in cities around the globe and offers deals from airlines and hotels like Virgin Atlantic and St. Regis.

FoundersCard says its members range from first-time entrepreneurs to the world's best-known innovators. 

Cost: $495 annually with a $95 one-time fee



The Montauk Club is for quirky Brooklynites.

Unlike most of the other social clubs, Montauk Club doesn't seem to take itself too seriously

The club, which has been around since 1889, is an anti-elitist community that organizes a variety of events including monthly book, beer, and wine clubs, talks by locals authors, jazz shows, and themed cocktail parties.

Members can use the 19th-century Park Slope clubhouse at any time for personal or professional reasons. 

As the club's website says with a wink: "... by far our largest contingent is members under the age of 35. The majority of our under 35s are unmarried – and in keeping with Brooklyn’s reputation – good looking."

Cost: $350 annually if you're under 35



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12 Great Overnight Bags For A Summer Getaway

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4 ghurka express no 2 khaki twill weekender__large

Weekend vacations come in a wide variety—beach escapes, road trips, camping excursions, adventure expeditions—so it’s important to have the right bag in hand.

But no matter what kind of weekend bag you need, it should be both stylish and practical. We tested the best bags we could get our hands on, from beach-only totes to versatile weekenders, and then picked our favorites.

For your next summer weekend getaway, grab one of these 10 Fodor’s Approved bags.

FILSON ORIGINAL SPORTSMAN

The Tester: Michael Alan Connelly, Editor, Fodors.com

The Review: I think this is the perfect size for a weekend bag; it's not an unwieldy duffel, but I was still able to pack a couple days' worth of warm-weather clothes, shoes, and toiletries inside. The bag's most unique feature is a main compartment with two snap-out panels that allow the inside to be split into two or three sections—great for keeping dirty clothes separate from clean ones. This is a very durable, waterproof bag, so I liked not having to worry about keeping it out of the rain. I felt like I could take it anywhere with me, even to the beach. I liked the bag's materials: high-end leather, sturdy twill, and strong brass zippers.

The Catch: Though admittedly a handsome bag, its style is very "urban woodsman," which is not necessarily a look for everyone.

The Verdict: With the high-quality construction Filson is known for, it feels like this bag would last a lifetime, so I'd definitely recommend it given its price point.

The Price: $360



GHURKA EXPRESS NO. 2 KHAKI TWILL WEEKENDER

The Tester: Abbey Chase, Digital Editorial Intern

The Review: You won't find many bags more stylish than the Ghurka, and this roomy model means packing won't require many hard decisions. I really liked how many pockets this bag had; the main compartment is large and uncluttered, but the end pocket and exterior zippered compartments come in handy when packing shoes, magazines and papers, and small electronics. The leather and twill are both beautiful and extremely high quality, and I think this is the kind of bag that will only get better the more you break it in.

The Catch: The closures on the two outside pockets are not at all easy to open and close. The light color of the twill is not ideal, but the material is sturdy enough I don't think it would show stains that easily. It's also pretty heavy, even when empty.

The Verdict: If you're looking for no-frills functionality, this is not the bag for you. Style trumps everything with the Ghurka and it delivers in spades on that front. This is undoubtedly an investment; I wouldn't (couldn't) buy this bag for myself, but the gorgeous design coupled with its durability help to justify its hefty price tag.

The Price: $1,295



LONGCHAMP LE PLIAGE PERSONALIZED CUIR

The Tester: Caroline Trefler, Senior Editor, Cities and Cultural Destinations

The Review: I love this chic leather bag! Size-wise, I think many women would use this as a large purse, but I'm a light packer and if you're just going to the beach this holds plenty of (small) clothes. I fit two bikinis, a sarong, a pair of shorts, two t-shirts, a sweatshirt, a summer dress, a pair of flip flops, a book, two different kinds of sunscreen, a toothbrush and toothpaste, and a couple other small essentials, without it being stuffed. I like that you can carry this bag by its handles, or put it over your shoulder, and I adore the bright colors. It also folds up with a snap so you can stow it away in a larger bag. The leather is to-die-for soft, though I'd definitely use some sort of leather protector/waterproofing spray on it. I do think it's the kind of bag that would get better the more you use it. There are two smallish pockets inside, one zippered and one not. Neither are large, but I think that's fine for just a weekend tote.

The Catch: I worried about ruining the supple, expensive leather. It would probably be better as just a small overnight bag for the city, rather than taking it to the beach, but you'd have to pack light. The other catch is that it's expensive.

The Verdict: This bag is a real splurge in leather, so I wouldn't buy it for myself, but it would make a fabulous present. It comes in a lightweight nylon canvas, as well, which is very reasonably priced but, unfortunately, less stylish.  

The Price: $790 (large size)



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15 Badass Trading Desk Setups From Around The World

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trading desk

If you want to trade the markets you have to live the markets — that means turning your trading desk into your second home.

That's why we put out a call to our readers to send in pictures of their oh-so-important spaces, and the response was just awesome.

The desks came in from Croatia to Chicago, Brazil to Switzerland. You sent us everything from massive desks with a bunch of screens to killer views that likely make the day go by a lot faster.

Thanks. Keep 'em coming.

If you would like to include your trading desk set up, feel free to send an email to jlaroche@businessinsider.com and llopez@businessinsider.com with a photo and a brief description. 

This set-up comes from a trader in Switzerland. He uses Interactive Brokers to trade stocks and options and uses various market data tools. The Samsung Galaxy Tab 3 shown is also running Interactive Brokers for his mobile needs.



This desk belongs to a Los Angeles-based options trader focusing on premium selling as his main strategy. He uses Thinkorswim for charting and Silexx Obsidian for order entry.



A trader in Croatia uses this desk to trade currencies. He uses OANDA as his broker. That's Oanda's charting platform on the monitors. He usually trades intraday when there is higher volatility in markets to exploit fast moves with breakout strategies.



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‘Reverse Perspective’ Painting Appears To Move Before Your Eyes

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reverse perspective painting

A new clip of a "reverse perspective" painting by Brian Williams is making the rounds online, and it will blow your mind.

Currently on display at The Gallery Ice in Windsor, UK (and which we first saw at This Is Colossal), the painting gives the viewer the illusion of peering into an art gallery that shifts as he does.

This Is Colossal points out that the work is inspired by well-known artist Patrick Hughes’s own “reverspective” paintings, which he has been making since the '60s. Both use an optical illusion where the objects or rooms are painted on a big lumps of wood or another material that sticks out from the flat painting.

The artist then paints the objects he or she wants to seem the farthest away from the viewer on top of the blocks of wood. This causes the painting to alter as the audience moves around, and to appear in reverse 3D when viewed head-on. Pretty cool.

Despite the shaky camera movements, you can really see how it’s done in the video below.

And here’s Patrick Hughes explaining his own work from the Flowers Gallery two years prior.

SEE ALSO: This Artist Sold Her Messy Bed For $4.4 Million

DON'T FORGET: Follow Business Insider's Life On Facebook!

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The Incredible Story Of How A Bankrupt And Unemployed Brian Williams Got His Big TV Break

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Brian Williams

Before Brian Williams was the Emmy-winning anchor and managing editor of "NBC Nightly News," he struggled to find a job after dropping out of college.

Now earning a reported $10 million annual salary, Williams went bankrupt in his early 20s after "a failed experiment in local news."

It wasn't until a news director in Washington, D.C., took a chance on him that Williams resumed his on-air career years later.

MediabistroTV spoke to Williams, 55, about his big break and success after failure.

Growing up in New Jersey it was "very clear all along that I had to work, I had to support myself. I was working a series of jobs and I had an epiphany [after dropping out of GWU] that I had to at least try something that I always wanted to try."

 



"My late mother always used to say about people on local news in New York, 'I think you could do better than some of these people.' I don't know what she based that on, but I loaded up what few belongings I had and moved to Pittsburg, Kansas."



"I worked at a small television station for 13 months and started making $168 a week for a seven-day work week."



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A New Dress Shirt Solves The Annoyance Of A Floppy Collar

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million dollar collar kickstarter

A new Kickstarter project claims to solve the biggest problem with men's dress shirts — the floppy collar.

“Everybody always tells me what they hate the most about dress shirts is the part of the shirt that just flops,” Rob Kessler, the project’s co-founder, told Business Insider. “Most collars are just too heavy and the placket can’t support the weight.”

Kessler, who's based in Milwaukee, knew he wanted to fix men’s dress shirts fit after seeing photos from his own wedding, where he wore a shirt with no tie. “I’ve never been a tie guy,” Kessler told us. “On my wedding day, I went casual and my shirt just kept tucking under my lapel the whole day. All I did was lift that thing up and try to make it stand.”million dollar collar kickstarterAfter seeing the photos, he began developing a men’s shirt that would look crisp and polished even without a tie. He realized the best approach would be to create a placket — the part of the shirt that supports the color — that was stiffer.

“I started playing with different materials and cutting up dress shirts,” Kessler said. “I also started doing research online to see if there was anything out there, and everything seemed to be up in the collar and nothing was down in the placket.”million dollar collar kickstarterThe only thing Kessler found was a removable placket stiffener patented in 1888. He changed the design so it would be permanently installed and extended it from the collar down to the third button. The result is the Million Dollar Collar, which Kessler calls the, “biggest advancement in dress shirts since the collar stay was patented in 1953.”

The shirts will come in blue, white, and gray, and are made from long-strand (Egyptian) cotton. The company hopes to raise $40,000 on Kickstarter to get the shirts off the ground.

Read more about the Kickstarter here.

WATCH: The Strange Fashion Choices Of European Men

DON'T FORGET: Follow Business Insider's Life On Facebook!

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The 10 Best Sushi Restaurants In New York City

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sushiWith a Japanese restaurant on practically every street of New York City, it can be hard to navigate between the cheap all-you-can-eat spots and the overpriced yet still sub-par restaurants. 

To help you out, we put together a list of the best sushi restaurants in New York City.

To create this, we combined five notable rankings from food experts and New York publications, including Zagat, the Village Voice, Eater, Time Out New York, and GothamistWe gave each restaurant a numerical ranking based on how many lists it appeared on and how high it appeared on the ranked lists. We only included restaurants that made at least two lists. 

No. 10 Soto

357 6th Avenue

Sea urchin, or "uni," is a delicacy and Soto Japanese does it best. Chef Sotohiro Kosugi proves that the spiky creatures are not just edible, but downright delicious. The two-starred Michelin spot is pricey, so make it worth your while and be adventurous with the wide range of fresh fish. 

 



No. 9 Ushiwakamaru

136 W Houston Street

Located in the West Village, Ushiwakamaru stands out for its very fresh, raw fish selection that's carefully crafted by chef Hideo Kuribara. The restaurant itself is pretty simple and lets the food speak for itself. 



No. 8 15 East

15 E 15th Street

Another Michelin star recipient, 15 East dishes out impressively fresh, seasonal sushi from a chef who really knows his stuff. Masato Shimizu left Jewel Bako to stand behind this restaurant's sushi bar, where he educates diners with charts and books about the fish they're eating. Dine a la carte or try the omakase.



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The 20 Best College Traditions In The US

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Harvard Yale Game

Each college has beloved traditions that students have kept alive through the years.

We've put together a list of the best college traditions from around the country. Some of these—like the Dartmouth Winter Carnival—are loved by students and school officials alike. However, traditions such as the Mirror Lake Jump at Ohio State are enjoyed much more by students than faculty.

Cornell Dragon Day at Cornell University

When: Every March

Year it began: Sometime between 1897 and 1901

The tradition of Dragon Day goes back more than one hundred years. Every March, first-year architecture students band together to build a massive dragon, which they parade across campus. The dragon then "battles" with a large phoenix, built by engineering students.



Spirit Splash at the University of Central Florida

When: End of October

Year it began: 1995

For Spirit Splash, students at the University of Central Florida rush into the campus's Reflecting Pond to celebrate homecoming weekend. The tradition started in 1995 when someone pushed the student body president into the pond. Spirit Splash won the "Best Campus Tradition" award from the National Association for Campus Activities.



THON Weekend at Pennsylvania State University

When: Every February

Year it began: 1973

THON Weekend is 46-hour no-sitting, no-sleeping dance marathon that takes place every February at Penn State. The marathon is for a good cause, with a majority of the proceeds going toward the Four Diamonds Fund to fight pediatric cancer. THON has raised more than $114 million for the cause since the tradition began in 1977.



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CITI: These 19 Companies Will Make A Fortune From Global Growth

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johnnie walker

Growth in the emerging markets has slowed down recently as growth in the developed markets have picked up.

Nevertheless, growth in the emerging markets is still higher, and they present attractive investing opportunities.

Citi analysts recently published a massive report highlighting the best global companies capitalizing in these markets.

"We expect that many of our companies will still be able to generate stronger rates of top line growth in emerging markets when compared to developed markets owing to (i) relatively strong economic growth in these countries, (ii) increasing per capita penetration / usage of consumer staples products by consumers in these markets and (iii) broadening geographic distribution of branded consumer staples products within these regions."

In their report, Citi analysts have complied a list of their favorite companies for outsized growth in emerging markets. Click on the slide show to see the list.

The Coca-Cola Company

Industry: Beverage, non-alcoholic

Region: U. S. 

Ticker: NYSE: KO

Revenue (annual report): US$ 46.854 billion (2013)

The Coca-Cola Company has a significant exposure in emerging markets; approximately 75% of their profits in 2013 came from overseas. Coca-Cola's breadth of product offering — including bottled water, tea, coffee, and juice — partially contributes to its major international success.

Citi analyst Wendy Nicholson  also notes that because the Coca-Cola Company entered the Latin American market earlier and in a bigger way than PepsiCo did, it now "commands very strong market shares and in turn, very high profit margins".

Source: Citi



Arca-Contal

Industry: Beverage, non-alcoholic

Region: Latin America 

Ticker: BMV: AC

Revenue (annual report): PS 60.359 million (US$ 4.66 million) (2013)

Arca-Contal derives almost 40% of its consolidated EBITDA from northern Mexico, which has the highest per-capita soft drink levels in the country. Additionally, despite a "challenging operating environment", Arca operates in the rapidly growing and highly profitable Ecuadorean franchise and in Argentina — which are seeing double digit EBITDA growth.

Citi analyst Alexander Robarts adds that Arca-Contal's recent acquistion of processed dairy assets in Ecuador, Toni, is an additional area of attractive non-organic growth. Now, Arca-Contal is the 5th largest company in the country.


Source: Citi



Mengniu Dairy

Industry: Beverage, non-alcoholic

Region: China

Ticker: SEHK: 2319

Revenue (annual report): US$ 2.04 billion (2013)

Citi's pick for Chinese non-alcoholic beverages is Mengniu Dairy. They add that concern on import UHT milk is "overdone", and that Mengniu has a chance to "invest in Arla branding for market share".

Citi analysts believe that China raw milk prices will probably "decline to a level where cycle average prices are cost plus farm's normal profit". If this happens, Jasmine Bai writes that "Mengniu's volume growth may accelerate, with cost delcine as well as ASP decline/promotion increasing". Consequently, they believe margin will benefit.


Source: Citi



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These Are 11 Wealthiest Women In Tech

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Marissa Mayer, filtered photo

It's no secret that Silicon Valley is dominated by men.

President Obama has even called on women to go into tech and other STEM (science, technology, engineering and mathematics) fields.

The tech community has finally realized it has a diversity problem. Google recently announced it would offer vouchers for coding lessons for women and minorities.

But women have been in the tech industry (albeit in relatively small numbers) for some time now. Some of those women have risen up to lucrative leadership positions in the C-suite and elsewhere.

 

11. Lucy Peng, CPO, Alibaba

Lucy Peng, an Alibaba founder, became the company's chief people officer in June after successfully growing its small lending and microfinance operations.

Alibaba has been in the news a lot recently. The multifaceted ecommerce company recently announced an initial public offering on the New York Stock Exchange, claiming a value of around $120 billion. For reference, Amazon is worth approximately $137 billion.

We won't know Peng's salary until Alibaba files with the SEC this year, but her fortunes will undoubtedly skyrocket when the company completes its IPO.

Peng isn't the only one who stands to benefit from the IPO. Yahoo owns a large steak in Alibaba and is expected to make around $10 million when the company goes public.



10. Angela Ahrendts, SVP of Retail and Online Stores, Apple

Angela Ahrendts cut her teeth at Burberry, where she rose to CEO, before joining Apple this year as head of retail and online stores, a role created just for her. She's the first woman to join CEO Tim Cook's executive team.

It's unclear how much she'll make at Apple, but the company has awarded her $76 million in stock (based on its current value) that vests over the next four years. Tim Cook pulled in around $4.5 million in 2013, so we can expect Ahrendts' annual compensation to be in the $2 million to $3 million range.



9. Amy Hood, CFO, Microsoft

Amy Hood became Microsoft's CFO last May and reports to CEO Satya Nadella. Her total compensation neared $7.5 million.

Before transitioning to CFO, Hood led Microsoft's business team in acquiring big names like Skype and Yammer.

She also holds an MBA from Harvard and worked at Goldman Sachs before joining Microsoft in 2002.

 



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The Most Expensive Video Games Ever Made

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destiny day time

Video games are getting to be as expensive to produce as Hollywood films. 

In fact, some video games have ended up costing way more than even the most expensive feature films.

Unlike with movies, though, the amount of money it costs to make video games is a closely guarded secret. Most of the costs we see floating around are purely based on analyst estimates.

And when specific numbers are released, they take into account not just production, but things like marketing and packaging as well.

 

"Tomb Raider" - $100 million

"Tomb Raider" came out in 2013 to much hype — and much acclaim. It sold around 1 million copies within 48 hours of its release, and around 6.5 million as of last month. 

Game industry analyst Billy Pidgeon estimated that the game cost $100 million to produce.



"Red Dead Redemption" ~ $100 million

Set in the Old West, "Red Dead Redemption" was Rockstar Games' way to prove that it was more than just the company that made "Grand Theft Auto." 

The game took more than six years to develop and was delayed several times. According to the New York Times, it cost between $80 million and $100 million to produce. 



"Grand Theft Auto IV" - $100 million

Speaking of Rockstar Games and "Grand Theft Auto," at the time it came out in 2008, "Grand Theft Auto IV" was the most expensive game ever produced. Its producer, Leslie Benzies, estimated it cost Rockstar around $100 million. Of course, he later said that was just a guess, so take it with a grain of salt.

Within 24 hours, "Grand Theft Auto IV" sold 3.6 million copies, shattering sales records.  



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Pamplona's 'Running Of The Bulls' Is One Insane Street Party [PHOTOS]

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The annual running of the bulls in Pamplona, Spain, kicked off today, sending thousands of thrill-seekers from all over the world sprinting down the city's narrow streets, ducking and dodging the horns and bodies of massive bulls running at an average speed of 15 miles an hour.

Many of the participants were likely still feeling the effects of sangria consumed the night before, partying in celebration of the beginning of the 9-day San Fermin Festival, of which the running of the bulls is a central tradition.

Four people were injured in the first run of the festival, the AP reports.

The following photos will either make you want to hop on the next flight to Pamplona, or stay far away from a place where bulls roam the streets.

The 9-day San Fermin festival kicks off at noon on July 6th each year, when tens of thousands of revelers come to see a large firework show, known as the "chupinazo," in front of Pamplona's city hall, signifying the start of the events. That's when the party really begins.




Those who participate in the daily running of the bulls wear white shirts and trousers, along with traditional red waistbands and scarves. Some even bring rolled up copies of the day's newspaper to fend off the bulls.



Sangria is the drink of choice for party-goers, whose traditional white shirts quickly become soaked to a pink color as they sing, dance, and celebrate.



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How The Massive Crumbs Cupcake Empire Finally Caved

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CrumbsCrumbs Bake Shop — the world's largest cupcake company  is officially closing all of its stores as of Monday night, the Wall Street Journal reported. 

Upon hearing the news, a Brooklyn-based Crumbs manager told the Wall Street Journal, "I come into work today, I'm happy, I'm skipping to work, and suddenly I don't have a job." 

The news came just a few days after Crumbs was delisted from NASDAQ.

The once-hot bakery catapulted to fame thanks to a cupcake craze that swept across the U.S. in the early 2000s. Shortly after going public in 2011, however, Crumbs began losing money.

Three years after "Sex and the City" inspired a cupcake craze, Crumbs was born.

It all started in 2000 when character Carrie Bradshaw ate a cupcake from Magnolia Bakery's West Village location. Tourists began flocking there and a "Sex and the City" tour bus made the location a destination. The cupcake craze had officially begun.

Mia and Jason Bauer, respectively a legislative counsel and a consumer product entrepreneur, were quick to jump on the trend, opening the first Crumbs on the Upper West Side in 2003.

"My expectations were very simple, and they came to fruition immediately," Mia Bauer told New York Family in 2012. "The goal was to have a neighborhood bakery where I knew everybody and their kids, and I made all their birthday cakes."



Crumbs was a huge hit.

People went crazy for Crumbs' cupcakes, and the company was able to sell its gourmet product for as much as $4.50 a pop.

In an interview with Newsweek, Jason Bauer explained why the cupcakes were such a hit.

"If you rewind to 2002, cupcakes were vanilla, chocolate, lemon, or strawberry, maybe with sprinkles," he said. "When we opened our stores, Mia created three types of cupcakes with cool fillings, frostings, and decorations. Every day they sold out, so we decided to expand that line and continued to grow it. We started making gourmet cupcakes and [that’s] what has now become the industry standard."

Crumbs' cupcakes eventually came in more than 75 flavors and ranged from the 1-inch-tall "Taste" cupcake to the 6.5-inch-tall "Colossal," which could feed up to six people.



Next came a nationwide expansion.

Crumbs started opening more shops in New York and expanded to Philadelphia, D.C., and Beverly Hills, among other cities.

But at the same time, hundreds of other cupcake bakeries opened across the U.S. Among them were Sprinkles Cupcakes, which launched in 2005; Cupcake Nouveau in 2007; and Georgetown Cupcake in 2008.

As the cupcake craze ballooned, television networks began taking notice. The Food Network started airing "Cupcake Wars" and TLC launched "DC Cupcakes," a show about Georgetown Cupcake and its owners.



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GOLDMAN: These Are The 20 Cheapest Stocks In The Market (DIA, SPY, SPX, QQQ, IWM, KORS, DAL, COG, PVH, NFLX, X, GT, REGN, SPG, CERN, EBAY, WYNN, CRM, PCAR, TMO, ROST, URBN, GM, RRC, TJX)

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David Kostin, chief U.S. equity strategist at Goldman Sachs, is out with his quarterly chartbook for U.S. equities. 

In it, Kostin and his team take a look at the stocks that have the most upside and downside to Goldman's price targets.

On this quarter's list of the stocks with the biggest upside are tech high-flyers like eBay, salesforce.com and, of course, Netflix. Industrial names like U.S. Steel and PACCAR are also on the list.

Over the first half of the year, the S&P 500 may have gained 7%, but according to Goldman, the 20 stocks with the most price target upside could land investors a 26% to 51% increase.

20. TJX Companies

Ticker: TJX

Price as of June 30: $53.15

Upside to target: 26.1%

 Comment: For the first quarter, TJX reported revenue that increased 5% to $6.5 billion on comparable store sales that increased 1%. 

Source: Goldman Sachs



19. Range Resources

Ticker: RRC

Price as of June 30: $86.95

Upside to target: 26.5%

 Comment: On June 26, the company announced marketing and transport agreements with subsidiaries of Energy Transfer Partners and Cheniere Energy. 

Source: Goldman Sachs



18. General Motors

Ticker: GM

Price as of June 30: $36.30

Upside to target: 26.7%

Comment: On June 30, General Motors recalled another 8.45 million vehicles. The next day, the company reported U.S. vehicle sales that grew 1% in June, better than the 6.3% decline expected by analysts. 

Source: Goldman Sachs



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The Most Stunning Pictures From The Tour De France So Far

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Each July the Tour de France brings together 198 of the world's best cyclists to race for three weeks in sports' most grueling contest. This year's Tour (July 5-27) started with three stages in England before heading over to France.

In addition to the thrilling racing over huge mountains and down high-speed descents, there is plenty of beautiful sports photography.

The Red Arrows flew past Harewwood House at the start of the first stage.



This year 198 riders started the Tour in England's historic county of Yorkshire.



The pack rolled through the beautiful Yorkshire Dales as a TV helicopter relayed live images to millions around the world.



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