New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney

Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody


Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody
New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


New Zillow CEO could make the home-flipping 'gamble work': RBC's Mahaney

Zillow wants to get into the home-flipping process, a big bold bet, says analyst 3 Hours Ago | 04:22

If anyone can pull off Zillow’s plan to start buying and selling homes, returning CEO Rich Barton is the one to get the job done, said RBC Capital Markets’ internet analyst Mark Mahaney.

Mahaney told CNBC on Friday that Barton, who co-founded the online real estate marketplace in 2005 and led it until 2010, has a “great track record” with Expedia. Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair.

“This guy’s got a huge track record, and when the news came out that he was coming back to be the CEO that’s what really took the stock up,” he said on “Squawk Alley.”

Barton, a serial entrepreneur, started Expedia under Microsoft in 1994, spun it into its own public company in 1999 and led it until 2003. He was also behind the launch of employment website Glassdoor.

Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. The stock sank 9 percent after Zillow announced the endeavor in May, 16 percent in a single day in August, and 8 percent in extended trading off a mixed fourth-quarter earnings report Thursday.

The price subsequently recovered and is up about 7 percent midday Friday.

Zillow has been piloting the flipping business in Phoenix and Las Vegas. Former CEO Rascoff has likened the model to Netflix’s original programming and Amazon’s web services. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. If it wins the property, the company plans to complete renovations in 90 days and relist it with one of its premier real estate agents.

Rascoff retains his seat on Zillow’s board.

Investors may be wary of the buying and selling model because it can take months to close on a deal, resulting in delayed revenue. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home.

The company expects the segment to bring in $20 billion in revenue within five years, according to its earnings forecast.

“If anybody can make this gamble work, it’s Rich Barton,” Mahaney said.

Still, he said he’s a bit “skeptical.” He said the firm is not a buyer of the stock at the moment.

“It’s just, it is a big swing, it’s a big risk,” Mahaney said. “I want to see him bring his magic back to the company before we get constructive on the shares.”

The stock is up more than 36 percent this year, but it’s down more than 10 percent over the past year and about 35 percent off its June high.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


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Mark Cuban, Scott Galloway, Mike Rowe all agree ‘following your passion’ is totally bogus advice

“You’ve got to find what you love. And that is as true for your work as it is for your lovers. “And the only way to do great work is to love what you do,” he continued. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on.


“You’ve got to find what you love. And that is as true for your work as it is for your lovers. “And the only way to do great work is to love what you do,” he continued. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on.
Mark Cuban, Scott Galloway, Mike Rowe all agree ‘following your passion’ is totally bogus advice Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: catherine clifford, brian snyder
Keywords: news, cnbc, companies, way, youve, better, following, scott, truly, galloway, totally, youll, rowe, love, cuban, mark, mike, work, bogus, great, looking, passion, dont


Mark Cuban, Scott Galloway, Mike Rowe all agree 'following your passion' is totally bogus advice

“You’ve got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work,” Steve Jobs, the iconic co-founder of Apple, in his commencement address to Stanford in 2005.

“And the only way to do great work is to love what you do,” he continued. “If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.”

It’s compelling advice from an absolutely legendary entrepreneur and businessman.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: catherine clifford, brian snyder
Keywords: news, cnbc, companies, way, youve, better, following, scott, truly, galloway, totally, youll, rowe, love, cuban, mark, mike, work, bogus, great, looking, passion, dont


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New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney

Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody


Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair. Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home. “If anybody
New Zillow CEO could make the home-flipping ‘gamble work’: RBC’s Mahaney Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


New Zillow CEO could make the home-flipping 'gamble work': RBC's Mahaney

Zillow wants to get into the home-flipping process, a big bold bet, says analyst 3 Hours Ago | 04:22

If anyone can pull off Zillow’s plan to start buying and selling homes, returning CEO Rich Barton is the one to get the job done, said RBC Capital Markets’ internet analyst Mark Mahaney.

Mahaney told CNBC on Friday that Barton, who co-founded the online real estate marketplace in 2005 and led it until 2010, has a “great track record” with Expedia. Co-founder Spencer Rascoff stepped down as Zillow chief Thursday after nearly a decade in the chair.

“This guy’s got a huge track record, and when the news came out that he was coming back to be the CEO that’s what really took the stock up,” he said on “Squawk Alley.”

Barton, a serial entrepreneur, started Expedia under Microsoft in 1994, spun it into its own public company in 1999 and led it until 2003. He was also behind the launch of employment website Glassdoor.

Shares of Zillow have taken several dives since the company first said it was exploring a house-flipping program. The stock sank 9 percent after Zillow announced the endeavor in May, 16 percent in a single day in August, and 8 percent in extended trading off a mixed fourth-quarter earnings report Thursday.

The price subsequently recovered and is up about 7 percent midday Friday.

Zillow has been piloting the flipping business in Phoenix and Las Vegas. Former CEO Rascoff has likened the model to Netflix’s original programming and Amazon’s web services. By leveraging its own data, Zillow would give home sellers access to its online platform to compare offers from potential buyers, including Zillow. If it wins the property, the company plans to complete renovations in 90 days and relist it with one of its premier real estate agents.

Rascoff retains his seat on Zillow’s board.

Investors may be wary of the buying and selling model because it can take months to close on a deal, resulting in delayed revenue. Zillow hopes its process will provide a service to house sellers and cut down the time and difficulty of selling their home.

The company expects the segment to bring in $20 billion in revenue within five years, according to its earnings forecast.

“If anybody can make this gamble work, it’s Rich Barton,” Mahaney said.

Still, he said he’s a bit “skeptical.” He said the firm is not a buyer of the stock at the moment.

“It’s just, it is a big swing, it’s a big risk,” Mahaney said. “I want to see him bring his magic back to the company before we get constructive on the shares.”

The stock is up more than 36 percent this year, but it’s down more than 10 percent over the past year and about 35 percent off its June high.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: tyler clifford
Keywords: news, cnbc, companies, rbcs, mahaney, selling, barton, zillows, zillow, ceo, track, homeflipping, sellers, stock, company, work, gamble, big


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Here’s why your tax refund could be smaller than last year

If you were unhappy with your tax refund this year, take a moment and review your return. The filing season only kicked off on Jan. 28, but some early filers are finding that they’re either owing the IRS or they’ll be receiving a smaller refund. Rep. Kevin Brady (R-Texas), who sponsored the tax overhaul as it made its way through Congress, told CNBC on Thursday that filers’ refunds are smaller for 2018 because they got their money in their paychecks. He said filers can retool their tax withholdi


If you were unhappy with your tax refund this year, take a moment and review your return. The filing season only kicked off on Jan. 28, but some early filers are finding that they’re either owing the IRS or they’ll be receiving a smaller refund. Rep. Kevin Brady (R-Texas), who sponsored the tax overhaul as it made its way through Congress, told CNBC on Thursday that filers’ refunds are smaller for 2018 because they got their money in their paychecks. He said filers can retool their tax withholdi
Here’s why your tax refund could be smaller than last year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: darla mercado, mapodile, getty images, djelics, ariel skelley, digitalvision, -chris benson, cpa, principal at lk benson
Keywords: news, cnbc, companies, refund, heres, yearthe, withholding, work, smaller, brady, told, filers, tax


Here's why your tax refund could be smaller than last year

If you were unhappy with your tax refund this year, take a moment and review your return. It could save you a headache in 2020.

For the first time, taxpayers are submitting their returns under the Tax Cuts and Jobs Act, which went into effect last year.

The filing season only kicked off on Jan. 28, but some early filers are finding that they’re either owing the IRS or they’ll be receiving a smaller refund.

Rep. Kevin Brady (R-Texas), who sponsored the tax overhaul as it made its way through Congress, told CNBC on Thursday that filers’ refunds are smaller for 2018 because they got their money in their paychecks.

He said filers can retool their tax withholding at work using Form W-4.

“People can go at work, fine-tune how much they want in their weekly or monthly paycheck and what they want in their refund,” Brady told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: darla mercado, mapodile, getty images, djelics, ariel skelley, digitalvision, -chris benson, cpa, principal at lk benson
Keywords: news, cnbc, companies, refund, heres, yearthe, withholding, work, smaller, brady, told, filers, tax


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Chinese tourism growth slows during the Lunar New Year holiday

Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around. Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. The closely watched Chinese consumer has become a significant force in overseas travel. The auto sector —


Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around. Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. The closely watched Chinese consumer has become a significant force in overseas travel. The auto sector —
Chinese tourism growth slows during the Lunar New Year holiday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: evelyn cheng, vcg, getty images
Keywords: news, cnbc, companies, tourism, slows, work, chinese, willing, lunar, watched, week, major, china, holiday, economy, growth, overseas


Chinese tourism growth slows during the Lunar New Year holiday

Tourism growth in China slowed during this year’s major Spring Festival holiday, indicating overall sentiment around the economy has yet to turn around.

Chinese New Year is typically spent visiting relatives, but as one of China’s few major public holiday seasons, it has increasingly become a popular time to travel. This year, the work holiday officially ran the first full week of February. Tuesday, the 15th day from the start of the Lunar New Year, marked the traditional end of the celebrations.

The closely watched Chinese consumer has become a significant force in overseas travel.

An increasing number of merchants overseas have adopted Chinese mobile pay, while many retailers have employed Mandarin-speaking staff. Within China, economic slowdown and uncertainty around issues such as the U.S.-China trade tensions have already put some pause on big-ticket purchases.

Car sales fell for a seventh straight month in January, data this week showed. The auto sector — a major part of the Chinese economy — is watched as a barometer on how much consumers are willing to spend.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: evelyn cheng, vcg, getty images
Keywords: news, cnbc, companies, tourism, slows, work, chinese, willing, lunar, watched, week, major, china, holiday, economy, growth, overseas


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Spike Lee learned a crucial career lesson from his Oscar snub in 1990

He feels the success of “BlacKkKlansman” has prompted a “reassessment of my body of work.” In an interview with GQ, Lee reveals that the script for his latest film came to him via Jordan Peele. “No one should have to think long and hard why Jordan Peele asked me to do this,” he explains. “He’s seen my body of work. Don’t miss: Oscar-winner Barry Jenkins worked at Oprah’s Harpo Films—but it was a job at Banana Republic that launched his film career


He feels the success of “BlacKkKlansman” has prompted a “reassessment of my body of work.” In an interview with GQ, Lee reveals that the script for his latest film came to him via Jordan Peele. “No one should have to think long and hard why Jordan Peele asked me to do this,” he explains. “He’s seen my body of work. Don’t miss: Oscar-winner Barry Jenkins worked at Oprah’s Harpo Films—but it was a job at Banana Republic that launched his film career
Spike Lee learned a crucial career lesson from his Oscar snub in 1990 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: courtney connley, isaiah trickey, getty images, steve granitz, wireimage
Keywords: news, cnbc, companies, snub, work, lesson, long, jordan, think, crucial, oscar, dont, learned, 1990, film, seen, career, lee, body, say, spike


Spike Lee learned a crucial career lesson from his Oscar snub in 1990

Lee, who was awarded an honorary Oscar in 2015, continued, saying, “If I was a musician, I would say the same thing about the Grammys or the Tonys or any of those organizations that give out awards.”

He feels the success of “BlacKkKlansman” has prompted a “reassessment of my body of work.” In an interview with GQ, Lee reveals that the script for his latest film came to him via Jordan Peele.

“No one should have to think long and hard why Jordan Peele asked me to do this,” he explains. “He’s seen my body of work. It’s simple. He’s seen my body of work! I knew he had a list. I don’t know who else was on the list. But I did not find it strange that, ‘Oh, my God! Jordan Peele is asking me to do this?!’ I mean, I knew why he wanted to.”

“BlacKkKlansman,” which was developed by Focus Features, is the first movie that Lee had done with a major studio in more than 10 years. In its first weekend at the box office the film exceeded expectations, grossing close to $11 million.

The 61-year-old director, who considers the film to be just another “Spike Lee Joint,” tells The Washington Post that he also believes the timing of the film, and its subject matter — a black cop who infiltrates the Ku Klux Klan — played a crucial role in its success.

“Timing is everything, and on this film, the stars were in alignment,” says Lee. “I don’t think I tried any harder on this film than others, but there are certain things when you put a film out, when you put a piece of art out in the universe, you have no control after that.”

Lee, who joined an Oscars boycott three years ago after activist April Reign started the #OscarsSoWhite campaign, credits Reign and former Academy President Cheryl Boone Isaacs with helping to diversify the award show nominations. He says there’s still a long way to go when it comes to bringing true change and diversity to Hollywood.

“The long game is the gatekeepers,” says Lee. “These are individuals, a select few, who have quarterly meetings and decide what we’re making and we’re not making.”

He adds that if people of color and women are not in those rooms “then you don’t really have a say, because you’re not in the room to put your hand up, throw a chair or say, ‘What are we doing?'”

Like this story? Subscribe to CNBC Make It on YouTube!

Don’t miss: Oscar-winner Barry Jenkins worked at Oprah’s Harpo Films—but it was a job at Banana Republic that launched his film career


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: courtney connley, isaiah trickey, getty images, steve granitz, wireimage
Keywords: news, cnbc, companies, snub, work, lesson, long, jordan, think, crucial, oscar, dont, learned, 1990, film, seen, career, lee, body, say, spike


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Southwest feuds with mechanics’ union over ‘unprecedented’ number of out-of-service planes

Southwest Airlines is planning to investigate maintenance issues that have kept an “unprecedented” number of aircraft out of service and prompted flight cancellations as a feud heats up between the carrier and its mechanics’ union. Southwest since last week has canceled more flights than its rivals. Southwest and its roughly 2,400 mechanics have been in contract negotiations for more than six years and the airline said the issues began after the last round of talks. Southwest’s outsourcing of ma


Southwest Airlines is planning to investigate maintenance issues that have kept an “unprecedented” number of aircraft out of service and prompted flight cancellations as a feud heats up between the carrier and its mechanics’ union. Southwest since last week has canceled more flights than its rivals. Southwest and its roughly 2,400 mechanics have been in contract negotiations for more than six years and the airline said the issues began after the last round of talks. Southwest’s outsourcing of ma
Southwest feuds with mechanics’ union over ‘unprecedented’ number of out-of-service planes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: leslie josephs, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, airlines, mechanics, union, negotiations, planes, outofservice, work, aircraft, ven, southwest, feuds, unprecedented, number, maintenance, airline


Southwest feuds with mechanics' union over 'unprecedented' number of out-of-service planes

Southwest Airlines is planning to investigate maintenance issues that have kept an “unprecedented” number of aircraft out of service and prompted flight cancellations as a feud heats up between the carrier and its mechanics’ union.

Southwest says that on any given day it plans to have roughly 20 aircraft out of its fleet of about 750 Boeing 737s out for maintenance but that number has more than doubled in recent days. Southwest since last week has canceled more flights than its rivals.

On Wednesday, Southwest had canceled more than 400 flights as snow, sleet and heavy rain crossed the U.S. A day earlier, the carrier had canceled 191 flights, compared with 32 by regional carrier Mesa Airlines and 24 by American Airlines, according to flight-tracking site FlightAware.

Southwest shares ended the day down more than 5 percent on Wednesday after the company trimmed its revenue outlook for the first quarter on a larger-than-expected impact from the partial government shutdown.

The airline declared an “operational emergency” at several maintenance bases last week, and added its Dallas hub to the list Tuesday, telling scheduled mechanics to show up at work or risk termination.

Southwest and its roughly 2,400 mechanics have been in contract negotiations for more than six years and the airline said the issues began after the last round of talks.

“On Feb. 12, just days after our last negotiations session with [the Aircraft Mechanics Fraternal Association] we experienced an unprecedented number of out-of-service aircraft in four specific maintenance locations despite no change in our maintenance programs, no changes in leadership, and no changes in our policies and procedures,” Southwest’s COO, Mike Van de Ven, said in a statement Tuesday night.

Van de Ven apologized to customers for the cancellations and delays, and said the airline is ramping up use of third-party maintenance workers as much as possible “which allows our Southwest mechanics to work the increased workload of maintenance tasks they have identified.”

Southwest’s outsourcing of maintenance work has been a sore spot in contract negotiations with the union.

Van der Ven said that the union “has a history of work disruptions.”

The union fired back that the airline is “scapegoating” its technicians and that the mechanics “will continue to do our job as expert craftsman, for the safety of Southwest’s passengers.”

“For Southwest’s leadership to connect the airline’s self-declared ‘operational emergency’ to collective bargaining negotiations is simply an attempt to divert attention away from the airline’s safety issues,” said Bret Oestreich, national director of the union, in a statement.

The mechanics rejected a contract offer in September for a 14.8 percent increase in pay right away, 3 percent annual increases and $91 million in ratification bonuses. The union had sought a 16.7 percent pay raise.

“No matter how small an issue we may find with an aircraft, we have an obligation mandated by operation of our [Federal Aviation Administration] issued licenses to repair it and make the aircraft airworthy,” Oestreich said late Wednesday afternoon. “It is our hope that the Southwest management will join this commitment to restoring our safety culture and looking at this transition not as an ‘operational emergency’ but rather the beginning of a new normal.”


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: leslie josephs, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, airlines, mechanics, union, negotiations, planes, outofservice, work, aircraft, ven, southwest, feuds, unprecedented, number, maintenance, airline


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Sweden lets employees take six months off work to start a business

Daniella Sjoqvist was 28 when she decided to take her side gig full time. She might have been nervous, except that there was one major factor in her favor — she had a job waiting for her if it all fell through. Sjoqvist’s employer, the Swedish government, had given her six months off to pursue her business idea with the guarantee that her job would be waiting for her if she chose to return. “I had already started my company, teaching languages on the side while I was working, but it felt more li


Daniella Sjoqvist was 28 when she decided to take her side gig full time. She might have been nervous, except that there was one major factor in her favor — she had a job waiting for her if it all fell through. Sjoqvist’s employer, the Swedish government, had given her six months off to pursue her business idea with the guarantee that her job would be waiting for her if she chose to return. “I had already started my company, teaching languages on the side while I was working, but it felt more li
Sweden lets employees take six months off work to start a business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: karen gilchrist, luca sage, digitalvision, getty images, danielle sjoqvist, max friberg
Keywords: news, cnbc, companies, working, throughsjoqvists, triple, work, job, waiting, business, timeshe, lets, employees, sjoqvist, told, start, sweden, months, company


Sweden lets employees take six months off work to start a business

Daniella Sjoqvist was 28 when she decided to take her side gig full time.

She might have been nervous, except that there was one major factor in her favor — she had a job waiting for her if it all fell through.

Sjoqvist’s employer, the Swedish government, had given her six months off to pursue her business idea with the guarantee that her job would be waiting for her if she chose to return.

“I had already started my company, teaching languages on the side while I was working, but it felt more like a hobby than a job,” Sjoqvist told CNBC Make It. The break “allowed me to take the chance of working full time on my company,” she said.

Six months later, Sjoqvist’s burgeoning language academy had seen its customer numbers more than triple, giving her the confidence to quit her admin job permanently and become her own boss.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: karen gilchrist, luca sage, digitalvision, getty images, danielle sjoqvist, max friberg
Keywords: news, cnbc, companies, working, throughsjoqvists, triple, work, job, waiting, business, timeshe, lets, employees, sjoqvist, told, start, sweden, months, company


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Facebook wants to make a new virtual assistant that’s smarter than Siri or Alexa, report says

Facebook is hoping its artificial intelligence chips will someday power a virtual assistant smarter than Apple’s Siri or Amazon’s Alexa, according to the Financial Times. Tech giants and semiconductor makers alike have taken up the project, and Facebook has apparently given itself a tall task. “If there’s any stone unturned, we’re going to work on it,” Yann LeCun, Facebook’s chief AI scientist, told the Financial Times. The tool was partially powered by AI and partially the work of contracted em


Facebook is hoping its artificial intelligence chips will someday power a virtual assistant smarter than Apple’s Siri or Amazon’s Alexa, according to the Financial Times. Tech giants and semiconductor makers alike have taken up the project, and Facebook has apparently given itself a tall task. “If there’s any stone unturned, we’re going to work on it,” Yann LeCun, Facebook’s chief AI scientist, told the Financial Times. The tool was partially powered by AI and partially the work of contracted em
Facebook wants to make a new virtual assistant that’s smarter than Siri or Alexa, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: sara salinas, stephen lam, magdalena petrova
Keywords: news, cnbc, companies, virtual, smarter, alexa, assistant, work, portal, facebooks, thats, lecun, report, siri, financial, partially, wants, told, tool, facebook, ai


Facebook wants to make a new virtual assistant that's smarter than Siri or Alexa, report says

Facebook is hoping its artificial intelligence chips will someday power a virtual assistant smarter than Apple’s Siri or Amazon’s Alexa, according to the Financial Times.

The company announced a partnership with Intel last month, entering a stiff race to develop a more specialized and powerful artificial intelligence chip. Tech giants and semiconductor makers alike have taken up the project, and Facebook has apparently given itself a tall task.

“If there’s any stone unturned, we’re going to work on it,” Yann LeCun, Facebook’s chief AI scientist, told the Financial Times.

A niche AI chip could aid in Facebook’s content moderation battle, more accurately finding and removing abusive content across Facebook’s platforms. It could also boost Facebook’s burgeoning hardware division, which launched the first Facebook-branded home device, Portal, last fall.

Facebook in 2015 launched a text-based digital assistant, dubbed M, within its Messenger app. The tool was partially powered by AI and partially the work of contracted employees. Facebook ultimately killed the tool, but it could be looking toward a revamp of sorts.

“In terms of new uses, one thing Facebook would be interested in is offering smart digital assistants — something that has a level of common sense,” LeCun told the Financial Times. “They have background knowledge and you can have a discussion with them on any topic.”

Read the full report at the Financial Times.

WATCH: Facebook Portal review — great for video calls but lacks compelling features


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: sara salinas, stephen lam, magdalena petrova
Keywords: news, cnbc, companies, virtual, smarter, alexa, assistant, work, portal, facebooks, thats, lecun, report, siri, financial, partially, wants, told, tool, facebook, ai


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Facebook wants to make a new virtual assistant that’s smarter than Siri or Alexa, report says

Facebook is hoping its artificial intelligence chips will someday power a virtual assistant smarter than Apple’s Siri or Amazon’s Alexa, according to the Financial Times. Tech giants and semiconductor makers alike have taken up the project, and Facebook has apparently given itself a tall task. “If there’s any stone unturned, we’re going to work on it,” Yann LeCun, Facebook’s chief AI scientist, told the Financial Times. The tool was partially powered by AI and partially the work of contracted em


Facebook is hoping its artificial intelligence chips will someday power a virtual assistant smarter than Apple’s Siri or Amazon’s Alexa, according to the Financial Times. Tech giants and semiconductor makers alike have taken up the project, and Facebook has apparently given itself a tall task. “If there’s any stone unturned, we’re going to work on it,” Yann LeCun, Facebook’s chief AI scientist, told the Financial Times. The tool was partially powered by AI and partially the work of contracted em
Facebook wants to make a new virtual assistant that’s smarter than Siri or Alexa, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: sara salinas, stephen lam, magdalena petrova
Keywords: news, cnbc, companies, virtual, smarter, alexa, assistant, work, portal, facebooks, thats, lecun, report, siri, financial, partially, wants, told, tool, facebook, ai


Facebook wants to make a new virtual assistant that's smarter than Siri or Alexa, report says

Facebook is hoping its artificial intelligence chips will someday power a virtual assistant smarter than Apple’s Siri or Amazon’s Alexa, according to the Financial Times.

The company announced a partnership with Intel last month, entering a stiff race to develop a more specialized and powerful artificial intelligence chip. Tech giants and semiconductor makers alike have taken up the project, and Facebook has apparently given itself a tall task.

“If there’s any stone unturned, we’re going to work on it,” Yann LeCun, Facebook’s chief AI scientist, told the Financial Times.

A niche AI chip could aid in Facebook’s content moderation battle, more accurately finding and removing abusive content across Facebook’s platforms. It could also boost Facebook’s burgeoning hardware division, which launched the first Facebook-branded home device, Portal, last fall.

Facebook in 2015 launched a text-based digital assistant, dubbed M, within its Messenger app. The tool was partially powered by AI and partially the work of contracted employees. Facebook ultimately killed the tool, but it could be looking toward a revamp of sorts.

“In terms of new uses, one thing Facebook would be interested in is offering smart digital assistants — something that has a level of common sense,” LeCun told the Financial Times. “They have background knowledge and you can have a discussion with them on any topic.”

Read the full report at the Financial Times.

WATCH: Facebook Portal review — great for video calls but lacks compelling features


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: sara salinas, stephen lam, magdalena petrova
Keywords: news, cnbc, companies, virtual, smarter, alexa, assistant, work, portal, facebooks, thats, lecun, report, siri, financial, partially, wants, told, tool, facebook, ai


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