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How Money-Losing Pandora Could Become Profitable ... If It Wanted To (P)

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tim westergren

There are two ways to think about Pandora.

The first is the way most people are familiar with (and the way founder Tim Westergren wants you to think about it): That it's an enormously popular music streaming service with millions of users and a huge mobile ad business. It's probably the third largest mobile ad seller behind Google and Facebook, and it takes in more than $100 million a year in mobile sales.

Impressive.

The other way is to regard it as a regulatory arbitrage gamble that's entirely dependent on lobbying Congress to reduce its song royalty fees in 2015. If those fees aren't reduced, the fundamentals of Pandora's business model must change radically if it is to survive. The fact that it took in more money from the maturity of short-term investments ($73 million) in the first nine months of 2012 than it did in subscriptions, and would be cashflow negative in Q3 if it had not done so, doesn't help the case for Pandora.

Not so impressive.

Pandora chief revenue officer John Trimble recently gave an interview in which he argued that profitability was "doable." He didn't give any details, however.

We decided to figure out how Pandora might actually achieve profitability, based on what we know already.

The following charts, drawn from Pandora's own financials, show how the company could -- in theory -- actually start making real money if it wanted to.

This is Pandora's problem. Costs and revenues rise in lockstep because it can only air an ad if it plays a song, and for every song it plays, it must pay a royalty fee. On this basis, Pandora is ultimately doomed. But ...



Pandora has recently been able to generate more revenue per user than it used to. It's either playing more ads, or selling those ads at higher prices. This is a healthy trend. And ...



Pandora's ad revenue is growing at a faster percentage rate than its operating expenses. This is also good news for the long term.



See the rest of the story at Business Insider

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The 8 Best Vegetarian Restaurants In Manhattan

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Dirt Candy, NYC vegetarian restaurants

Vegetarians may get knocked for turning up their noses to steak and bacon, but they know that you don't need meat to make a great meal.

Chefs whose restaurants are exclusively vegetarian or vegan get creative to construct their enticing, artful meatless dishes. New York is home to a lot of vegetarians, so it makes sense that some of the best vegetarian restaurants are in the Big Apple.

Zagat has explored and rated the finest herbivore-friendly restaurants in the city, with food so gluttonously good you'll have a hard time believing it's healthy.

#8 Caravan of Dreams

405 East 6th St.

Food: 24

Decor: 18

Service: 21

Cost: $28

Caravan of Dreams is the vision of Spanish expat Angel Moreno, who opened the vegan restaurant in 1991 with the goal of serving delicious, organic, and humane Mediterranean dishes. Caravan also features a calendar of live music performances at dinner and brunch.



#7 Candle Cafe

1307 3rd Ave.

Food: 25

Decor: 17

Service: 21

Cost: $32

Candle Cafe can be found on the Upper East Side and the Upper West Side and the menus are very similar. The simple yet tasty organic veggie dishes are inspired by a wide and satisfying variety of ethnic cuisines, including Italian, Mediterranean, Indian, Asian, and Cajun.



#6 Candle 79

154 East 79th St.

Food: 25

Decor: 22

Service: 23

Cost: $47

Candle 79 is the "upscale, elegant sister" of the Candle Cafe that serves the kind of fare typical of a fine dining restaurant, only it's all plant-based, so the chefs can get creative as they depart from the chicken or beef dishes you might normally find at dinner.



See the rest of the story at Business Insider

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Here's What Will Happen If We Don't Raise The Debt Ceiling

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debt ceiling x date

The United States has already hit its debt ceiling--the legal limit of the amount of money it is allowed to borrow, as established by Congress.

Right now, the U.S. Treasury is resorting to "extraordinary measures" to keep paying the country's bills.

Sometime between February 15th and March 1st, the Bipartisan Policy Center projects, the Treasury's ability to use these "extraordinary measures" will end.

At that point, we will hit the "X-date."

On that date, if the debt ceiling has not been raised, the United States will begin to default on payments that it is legally obligated to make, payments that Congress has already promised that we will make.

The Treasury may have some ability to choose which payments to default on, and when to default on them, but the bottom line will be the same: The Treasury will only be able to pay about 60% of the bills that are owed.

In relatively short order, therefore, the United States will stiff about 40% of the people and companies it owes money to.

Importantly, this default is different than the "government shutdowns" that have happened from time to time (in the 1990s, for example). In those cases, Congress had yet to authorize government spending. This time, the spending has been authorized: Congress has already promised to pay these bills. This time, in other words, we will be choosing not to pay people and companies we have already promised to pay.

This has never happened before in the history of the United States.

That some representatives in our government say they are justified in making this happen now is reckless and scary. And the support that this vocal minority is getting suggests that some ordinary Americans don't understand what will happen if we don't raise the debt ceiling.

So, it is time for everyone to understand.

Below are some slides from a presentation prepared by Steve Bell, Loren Adler, Shai Akabas and Brian Collins of the Bipartisan Policy Center.

This game of chicken that one of our political parties is playing is no joke. To not raise the debt ceiling is to say that it is totally okay to stiff people and companies we owe money to--and, more importantly, to actually stiff them. This is astoundingly reckless and irresponsible behavior (not to mention illegal). And it will have a devastating impact on our country and economy.

The Bipartisan Policy Center looked at what will actually happen if Congress doesn't raise the debt ceiling...



Before we get to that, though, some background. We have already hit the debt ceiling. The Treasury is now using "extraordinary measures" to pay our bills.



Here are some of these "extraordinary measures," along with the cash they're freeing up.



See the rest of the story at Business Insider

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10 Cars We Can't Wait To See At The Detroit Auto Show

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cadillac electric elr electric

The North American International Auto Show (NAIAS) kicks off in Detroit on Monday, and we will be among the estimated 6,000 journalists on scene to see what the auto industry has to offer for 2014.

Here's a quick look at the ten rides we're most excited to see, including big reveals from Cadillac, Lexus, BMW, and, best of all, the long-awaited 2014 Corvette.

The 2014 Mercedes-Benz E63 AMG will come standard with all-wheel drive. Under the hood, it will have a 5.5-liter V8, good for 550 horsepower.



This is all Nissan's Infiniti has revealed of the new Q50, its new luxury sports sedan.



This is the third year Nissan is offering the electric LEAF. The 2014 version will have more range and a lower base price than its predecessors. It will also be the first LEAF built at Nissan's Smyrna, Tennessee plant.



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8 Very Funny, Very Wrong Answers Kids Have Given On Tests

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banana car funny test question F in exams

British author Richard Benson and his publisher, Chronicle Books, surfed the web and asked teachers to share their favorite (real) wrong answers.

What resulted is two New York Times best sellers, F in Exams: The Very Best Totally Wrong Test Answers and its sequel, F for Effort! More of the Very Best Totally Wrong Test Answers. 

With permission, we're publishing eight of the best bad answers.

Well, it could be true...



We think this person meant "plants."



And this person meant "important."



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The 15 Best Charts Of The Week

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graph paperThe world is changing, and nowhere can that be seen better than in a good series of charts.

Luckily, despite the relative shortage of market-moving headlines, we've seen no shortage of excellent charts this week.

The best charts we found this week touch on everything from China demographics to the cognitive dissonance of Wall Street analysts – and everything in between.

Let's go to the charts.

Long-only equity funds recorded their biggest weekly inflows since the height of the dot-com bubble

READ MORE: The Historic Surge Into Stock Mutual Funds That Has Everyone Talking About The 'Great Rotation' >



The VIX is at its lowest level since June 2007

READ MORE:The 'Fear Index' Is Near A 6-Year Low >



An NOAA study suggests an increasing probability of drought over this century throughout most of the US

READ MORE: America, Prepare For A Century Of Drought >



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10 Mind-Blowing Projects Made With A Tiny $35 Computer

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Raspberry Pi Beet Box

Raspberry Pi, the $35 Linux computer that's just a tad bigger than a business card, has been phenomenally well-accepted in its first year on the planet.

First released in February, 2012, it's makers say they will soon sell their one millionth unit.

Thanks to its low cost (there's also a $25 version), the tiny computer has become very popular with hobbyists, or "makers," who prefer to create their own gadgets. It's even got its own app store.

It turns out, you can do a lot with a very basic PC. Each Pi includes an ARM-based CPU; a graphics processor; and a few ports and pins to connect it to other electronics.

Phone-activated coffee machine

German developer Sascha Wolter got together with a few friends and hacked a Nespresso coffee machine by connecting it to a Raspberry Pi.

They set it up so they could call the coffee maker on the phone and order it to start brewing. 



Wearable computer glasses

These may not look as cool as the wearable computers that Google is whipping up, but they did win developer Jarred Glickstein first prize in the the Instructables Raspberry Pi contest last month.

The total project cost him $382, including a wireless keyboard and mouse. His glasses are the monitor. Together, it's a fully functional PC.



Old-fashioned coin-operated arcade game

A lot of people use Pi to run old-fashioned arcade games. But Darren J and his buddies took it one step further and built a whole coin-operated video-arcade cabinet, complete with buttons and joysticks. It wasn't easy.

Here's a picture of the arcade cabinet running the vintage game "Track And Field."

A commercially available Pi arcade cabinet is in the works thanks to this Kickstarter project.



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The True Story Of The Time JP Morgan Saved America From Default By Using An Obscure Coin Loophole

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jpm jp morgan jpmorgan

By now you've probably heard the Treasury say they will not be minting a $1 trillion coin to help the U.S. avoid the debt ceiling.

But the federal government exploiting obscure loopholes under moments of extreme duress is not without precedent.

At the beginning of 1895, the country was facing default after its gold reserves evaporated.

But through some legal archaeology JP Morgan located an obscure, Civil War-era statute that would allow he and some fellow international financiers to replenish the Treasury's gold stocks.

The country was saved.

With the help of Bancroft Prize-winner Jean Strouse's biography "Morgan," we retell the story.

The story begins with a yawning U.S. trade deficit at the beginning of the 1890s.

Fearing rising U.S. demand for cheap money, foreign investors continue to sell American securities and take the proceeds home. Between 1890 and 1894 anxious creditors unload $300 million worth of American securities and transferred gold abroad. 'Few people have any idea of the amount of property in this country that is held by foreigners." National City Bank (the forerunner of Citi) chair James Stillman writes at the time. 

Source: Strouse



By the end of 1893 the Treasury's gold reserve has fallen below $60 million.

 "Since there was no income tax and the government had no power to issue money, the Treasury had to buy or borrow gold in order to maintain its reserve — and its ability to borrow depended on foreign confidence in the dollar," Strouse writes.

Source: Strouse



The main problem is that President Cleveland is unable to convince Congress to issue new bonds that could be sold in exchange for gold.

Sentiment against "goldbugs"— including from Cleveland's own Treasury secretary, John Carlisle — is running high. Western and Southern states instead favor silver. Cleveland, a New Yorker, had at one point been declared the "great financial Gorgon." By February 1894, Treasury was losing over $2 million a day. The government would default in three weeks time.

Source: Strouse



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The 17 Biggest Risks To Our Hyperconnected World

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stock market traders batman explode spark

Climate and governance dominate the World Economic Forum's eighth-annual Global Risks report published this week.

"Dynamism in our hyperconnected world requires increasing our resilience to the many global risks that loom before us," writes the WEF's Klaus Schwab.

A total of 1,234 top experts from around the world submitted responses.

One of the questions asked the experts to rate the likelihood of 50 major events on a scale of 1 (least likely) to 5 (most likely).  

We've ranked the 17 they said were most likely to occur.

Critical Systems Failure

Threat Category:  Technological

Likelihood Score: 3.62/5

Description: Single-point system vulnerabilities trigger cascading failure of critical information infrastructure and networks.

Source: World Economic Forum



Terrorism

Threat Category:  Geopolitical

Likelihood Score: 3.64/5

Description: Individuals or a non-state group successfully inflict large-scale human or material damage.

Source: World Economic Forum



Rising Religious Fanaticism

Threat Category:  Geopolitical

Likelihood Score: 3.66/5 

Description: Uncompromising sectarian views that polarize societies and exacerbate regional tensions..

Source: World Economic Forum



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50 Ways To Improve Your Finances In 2013

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fashion work model

Along with a fresh start, the new year brings uncertainty about changing tax laws, growing concern over online privacy and security, and challenges for almost every demographic group—even the wealthy, who face steep tax increases.

To help you get ready to tackle your own money goals for 2013, we gathered our best advice from the past 12 months and organized it into 50 bite-size steps:

1. Be a year-round discount shopper.

Specific holidays used to loom large in the world of coupon hunters, who expected to see massive discounts on July Fourth, Labor Day, Black Friday, and other big shopping days.

But recently, that's been shifting as retailers are offering sales all year long, and often at unexpected times.

In 2012, for example, retail experts noted that Christmas sales started in October, and continued all season, partly in response to customer demand.

That means shoppers should always be on the lookout for the best deals, regardless of the calendar date.



2. Ask for what you want.

As the economy recovers, retailers are eager to pick up the biggest share of consumers' spending what they can, and in some cases, that means adopting more flexible pricing policies.

Towards the end of 2012, several big-box stores, including Target and Best Buy, launched temporary price-matching policies.

That trend could continue into 2013, which means customers can be more assertive about asking stores to match prices they find elsewhere.



3. Coordinate budgeting with your partner.

Much stress can come from disagreeing with your spouse or partner about how you should be spending shared income.

Indeed, in author and yoga teacher JoAnneh Nagler's case, it even contributed to divorce. But she and her husband were able to reconcile (and remarry) when they jointly agreed to a disciplined debt-free lifestyle.

By scaling back on restaurant meals and other splurges, they're able to invest in what they really value, including their creative pursuits and romantic weekend getaways.



See the rest of the story at Business Insider

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The 16 Most Famous Kids In College This Semester

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Dakota Fanning

A new college semester is about to begin and that means that students are preparing to head back to school for the spring semester.

But some students have to juggle a bit more than just classes and schoolwork.

We've found the 16 most famous kids in college this semester. These celebrities are pursuing their college degrees, juggling class and exams with the responsibilities of public life.

They're musicians, actors, models and athletes who somehow find a way to balance their college careers with their professional ones—an impressive feat for such young people.

They go to school all over America, from New York City's School of Visual Arts to California's University of Southern California.

We've listed them here in alphabetical order. Let us know who we missed!

Elizabeth Beisel

College: University of Florida

Year: Junior

Beisel won a silver medal in the 400-meter individual medley event in the 2012 London Olympics. Even though she is a college student, Beisel is a two-time Olympian: she competed in the 2008 Beiijing Olympics at the age of 15. Beisel is also the 2011 world champion in the 400 IM.

She is majoring in communications at the University of Florida.



Miranda Cosgrove

College: University of Southern California

Year: Freshman

This actress and singer-songwriter is best known for her role on Nickelodeon TV's iCarly, but she's also starred in several films, including most notably School of Rock.

Cosgrove said that she took a drawing class last semester, which she really enjoyed.



Justin Combs

College: University of California Los Angeles

Year: Freshman

The son of Sean "P. Diddy" or "Puff Daddy" Combs, Justin Combs graduated with a 3.75 GPA from New Rochelle Iona Prep, a top private school, and is attending UCLA —on a $54,000 football scholarship.

The son of a multi-millionaire, Combs faced a lot of criticism for accepting the scholarship, but the 5-foot-9, 170-pound defensive back defended his decision to accept the scholarship, tweeting that he "put that work in"and earned the scholarship.

Combs made his debut as a UCLA Bruin last semester.



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The Hot New Term In Europe Is 'Crexit' — But These Charts Show The Crisis Isn't Over At All

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Spain strikes protestsAn op-ed in today's Financial Times by Allianz chief economist Michael Heise has everyone chattering about "crexit."

Heise writes that in 2013, "it may well not be a 'Grexit' for Greece but indeed a 'Crexit' – an exit from the crisis – that will come into sight."

However, nowhere in the article does Heise address Europe's staggering unemployment – and specifically youth unemployment – crisis. The latest Eurostat unemployment figures released last week indicated rising youth and headline unemployment rates in many countries as economic fundamentals continue to worsen.

Over the weekend, Daily Telegraph editor Ambrose Evans-Pritchard summed it up nicely in an op-ed of his own:

The horror before our eyes right now is social ruin. Europe’s crisis strategy is to the break the back of labour resistance to pay cuts by driving unemployment through the roof. That is what `internal devaluations’ are. It stinks. And the ECB is adding to the cruelty by keeping money too tight.

Mr Draghi deserves his accolades, but his job is not yet done. He has saved the rich. Now he must save the poor. Coraggio.

In Spain, the epicenter of Europe's youth unemployment crisis, the rate has soared to 56.5%

Note: Shaded red area represents period of eurozone membership.



Spain is second only to Greece, where 57.6% of those under 25 are unemployed

Note: Shaded red area represents period of eurozone membership.



Italy, the largest and most important economy in the euro periphery, has seen a relentless surge to 37.1% youth unemployment

Note: Shaded red area represents period of eurozone membership.



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Why You Should Never Trust The Photos Hotels Post Online

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resort

Hotels aren't always completely honest when it comes to the photos they post on their websites.

Professional reviewers from hotel review website Oyster visited vacation properties from Barbados to Boston, and the photos they took didn't quite match up with the online fantasy.

This latest collection of "photo fakeouts" serves as a cautionary tale for anyone planning a vacation and relying solely on hotel websites. Some of these photo "upgrades" are so egregious, you'll think you are looking at pictures of two completely different properties.

FANTASY: Sugar Cane Club, Barbados



REALITY: Not much space, and no champagne

Read the full review at Oyster >



FANTASY: The Langham Hotel, Boston



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Everything You Need To Know From The Golden Globe Awards

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Will Ferrell Kristen Wiig Golden Globes Intro

The 70th annual Golden Globes were the most well-received telecast in recent history and the show hit a six-year ratings high.

With help from funny co-hosts Tina Fey and Amy Poehler, the showfor the most partwent smoothly.

Highlights included Kristen Wiig and Will Ferrell as presenters, a drunk Glenn Close, Bill Clinton's surprise appearance and Ben Affleck cleaning up despite his Oscars snub.

See who else made our list of most buzz-worthy moments from Sunday's big show.

Tina Fey and Amy Poehler were hilarious hosts.

Some zingers from their opening monologue:

Poehler said she hasn't paid attention to the "Zero Dark Thirty" torture controversy, "But when it comes to torture, I trust the lady who spent three years married to James Cameron," referencing director Kathryn Bigelow. 

And discussing their Golden Globes looks, Fey joked, "The Hunger Games" isn't just a movie. It's what I call the six weeks it took me to get into this dress." Poehler perfectly followed up with, "Ang Lee's been nominated for 'Life of Pi' which is what I'm going to call the six weeks after I take this dress off!"

They then roasted everyone from Ben Affleck to Sarah Palin. Watch the opening monologue below:



Thanks to pal Steven Spielberg, Bill Clinton made a surprise appearance to introduce "Lincoln."

The former president took the stage to a standing ovation to present Steven Spielberg's "Lincoln," one of the nominees for best motion picture drama.

While everyone seemed to be surprised by the 42nd president's presence, a source tells E! Online, "It was not a last-minute thing. It was in the works and came together about five days ago."

The idea for Clinton's secret appearance reportedly came from Steven Spielberg's camp, with the source adding, "Steven and Bill are quite close."

Clinton introduced the film by saying: "President Lincoln’s struggle to abolish slavery reminds us that enduring progress is forged in a cauldron of both principal and compromise. This brilliant film shows us how he did it and gives us hope that we can do it again."

Watch his full appearance below:



Will Ferrell and Kristen Wiig gave a hilarious introduction for Best Actress in a Comedy.

Many now even think they should be next year's hosts. It's a must-watch:



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Here's All The Crazy Action You Missed From This Weekend's NFL Playoffs

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The NFL divisional playoffs are recognized by most football fans as the best weekend of the season with four games, featuring the eight best teams, spread over two days. And this year's games did not disappoint.

From Takeo Spike's dance (right) to a Seahawks defender getting destroyed by Jacquizz Rodgers, to Peyton Manning's antics, there were plenty of entertaining moments beyond the many touchdowns, turnovers, and field goals.

Peyton Manning bobblehead



'I'M A BALLERINA!'



Jacquizz Rogers destroyed a Seahawks defender



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What It's Like Spending A Week In Vegas Covering The Largest Trade Show In The World

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iheartradio party at ces

I've been home in New York for three days and I'm still feeling the effects of my week in Vegas.

My throat is sore. My lungs are congested. My nose is drippy.

I caught that mythical CES bug after being packed in the Las Vegas Convention Center with 150,000 other journalists, tech exhibitors, and analysts for a week.

But it was worth it.

Despite what the haters say, CES still has a lot of value. This year's convention was a bit light on major product announcements, but CES is still an excuse for everyone in the industry to get together and chat and swap secrets.

Even big names like RIM and Microsoft, who didn't have official booths on the show floor, had executives in Vegas last week meeting with press and advertisers.

You probably saw a lot of coverage last week of the user-facing stuff at CES, but it's a completely different world behind the scenes. 

I attended parties for Samsung and Toshiba my first night in Vegas. Both were held on the top floor of Mandalay Bay's TheHotel. The view of the strip was pretty sweet.



At times it feels like all you do is wait in line. Here's the Starbucks line at my hotel.



And here's the cab line at my hotel. It took 50 minutes for me to grab a cab. I almost missed an important meeting at The Cosmopolitan.



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Celebrities Tweet Their Reactions To The Golden Globes

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Lindsay LohanWhile Sofia Vergara posted countless photos from inside the Golden Globes on her Twitter and Instagram accounts, Lindsay Lohan followed along by live-tweeting the telecast from what we assume was her couch.

Alec Baldwin was surprisingly a gracious loser and Chad Lowe responded to Lena Dunham's "Thank You" in her acceptance speech.

See who else tweeted their reactions to — and from — Sunday's Golden Globe awards.

Lena Dunham

Last night big winner was without a doubt "Girls" creator and star, Lena Dunham. Her emotional and honest acceptance speech was a highlight of the night. 



Lindsay Lohan

After Kristen Wig and Will Ferrel hilariously presented the Best Actress in a Musical or Comedy, Lohan who was live tweeting the night, posted this on her twitter. Check out the rest of her tweets here >



Ben Affleck

Another big winner of the night, Ben Affleck tweeted this about his "Best Director" Golden Globes win. His film "Argo" also won "Best Picture-Drama." 



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Incredible Photos Of The Hindu Festival Expected To Draw 100 Million Devotees

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kumbh mela hindu holy men

Some 100 million mostly Hindu devotees are expected to gather in Allahabad for the Kumbh Mela festival, according to the BBC

Hindu pilgrims flock to the confluence of the river Ganges, Yamuna, and the mythical Saraswati to bathe and wash away their sins and achieve salvation. Ten million pilgrims are said to have bathed in the river on the first day, with the entire event said to last 55 days.

Click here to jump straight to the photos >

One of the biggest spectacles of the festival is when naked Hindu holy men wearing marigold garlands and ash on their faces run to the river. From the BBC:

"The Kumbh Mela has its origins in Hindu mythology - many believe that when gods and demons fought over a pitcher of nectar, a few drops fell in the cities of Allahabad, Nasik, Ujjain and Haridwar - the four places where the Kumbh festival has been held for centuries."

On observing the festival, Mark Twain is reported to have written in "Following The Equator: A Journey Around The World":

"It is wonderful, the power of a faith like that, that can make multitudes upon multitudes of the old and weak and the young and frail enter without hesitation or complaint upon such incredible journeys and endure the resultant miseries without repining. It is done in love, or it is done in fear; I do not know which it is. No matter what the impulse is, the act born of it is beyond imagination, marvelous to our kind of people, the cold whites."

The Kumbh Mela itself takes place every twelve years, but the BBC says this year's festival is the Maha Kumbh Mela which occurs every 144 years and is determined based on astrological calculations.

The festival is said to cost authorities $210 million but will create $2.2 billion in revenue.

Over 100 million people Hindu devotees are expected to attend the Maha Kumbh Mela.



Hindus bathe in the confluence of three rivers to wash away their sins.



Hindus believe when Gods and demons fought over a pitcher of nectar a few drops fell in four cities, including Allahabad where this Kumbh Mela is taking place.



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The Head Of A Small Investment Bank Is Selling His Unreal 6-Story Upper East Side Townhouse For $30 Million

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39 East 74th Street

Eric J. Gleacher, founder of Gleacher & Company, a boutique investment bank in Manhattan, is selling his six story Upper East Side townhouse for $30 million, the NY Times reports (h/t Curbed).

Glecher founded Lehman Brothers' Merger and Acquisitions department in the 1970s, and then headed up global M&A at Morgan Stanley from 1985 to 1990 before founding his own shop.

That's impressive, and so is the house.

From the NY Times:

The 20-foot-wide town house has seven bedrooms, five bathrooms, two half baths, a chef’s kitchen, a formal dining room, a parlor and four working fireplaces. Most of the building has high ceilings and well-maintained herringbone hardwood floors. Light streams in from three south-facing windows on each floor at the front of the house, and there are outdoor spaces throughout, including a patio garden off the ground-floor family room, a planted terrace with a wrought-iron trellis off the formal dining room on the second floor, another terrace off the rear bedroom on the fourth floor, and the deck on the roof.

Gleacher paid $11 million for the property in 2005 according to city records. Corcoran's Carrie Chang has the listing.

Welcome to the house.



The house has been thoroughly rennovated since it was bought in 2011.



In fact, the Gleacher's even added a floor.



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See Which Diet Plans People REALLY Like

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running, exercising, jogging, beach, girls

For years people have been searching for the "perfect diet" like they were hunting the Holy Grail. But which diets actually work?

Consumer Report (CR) recently asked more than 9,000 readers to weigh in on the question. They ranked 13 weight loss plans and tools, assigning each diet a score out of 100 based on factors like initial weight loss, food variety, and maintenance, among others.

Consumer Reports found that do-it-yourself plans were more popular than commercial alternatives, possibly because of the lower cost and the better flexibility. But ratings aside, Consumer Reports points out that weight loss is possible on any of the plans, and satisfaction is based on more than just shedding pounds alone.

Weight Watchers is a commercial plan in which dieters monitor their food intake with "points."

CR Reader Score: 56

Typical Weight Loss (Men): 12 to 35 lbs

Typical Weight Loss (Women): 10 to 28 lbs

Pros: Weight Watchers provides the flexibility to create your own diet plan and lets you eat whatever you want.

Cons: The Weight Watchers points system can be annoying to keep track of each day, and their premade food products are a bit pricey.



SparkPeople is a diet tracking website with an additional online support community.

CR Reader Score: 60

Typical Weight Loss (Men): 10 to 25 lbs

Typical Weight Loss (Women): 5 to 21 lbs

Pros: SparkPeople is free and readily-accessible, and enables you to easily track your weight loss journey. The site also has a user community that you can rely on for encouragement and shared tips.

Cons: The premise is mainly a low-carb, high-protein diet, which isn't best for everyone, and there can be a wait to get advice or answers from physicians on the site when you need help.



Nutrisystem is a commercial plan with many easy-to-make meal choices.

CR Reader Score: 66

Typical Weight Loss (Men): 10 to 30 lbs

Typical Weight Loss (Women): 7 to 24 lbs

Pros: Carbs are not off limits on the Nutrisystem plan, and the meals are simple and easy to make.

Cons: Nutrisystem's food choices have been called "palatable," and eating them feels like sitting down to a TV dinner instead of a meal.



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