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Tag: Silicon Valley

  • A Complete Guide to How to Start a Business in California

    California is a state located on the west coast of the United States. It is the most populous state in the country, with a diverse and vibrant culture. California is known for its sunny weather, beautiful beaches, and mountain ranges. The state is home to many iconic landmarks, such as the Golden Gate Bridge in San Francisco, Hollywood in Los Angeles, and Yosemite National Park in the Sierra Nevada Mountains. California has a strong economy and is home to many leading technology and entertainment companies. It is also a major agricultural producer, with a variety of crops grown throughout the state. California has a diverse population, with a large Hispanic population and a significant Asian American and Pacific Islander population. The state is known for its progressive policies and has a long history of social and political activism. Overall, California is a unique and vibrant state with a rich history and culture.

    Starting a business in California can be an exciting and rewarding experience. With its diverse economy, skilled workforce, and supportive business environment, California is a great place to start a new venture. However, starting a business in California also comes with its own set of challenges, including high costs and a complex regulatory environment. California offers a number of resources to help entrepreneurs start and grow their businesses. These include business incubators and accelerators, venture capital firms, and business development organisations that provide training, mentorship, and other support.

    About California
    Business Environment
    The Famous Silicon Valley
    Benefits of Starting a Business in California
    Tips for Successfully Launching a Business in California
    Challenges in Starting a Business in California

    About California

    California is a state located on the west coast of the United States. It is the most populous state in the United States and the third largest by area. California is known for its diverse geography, which includes everything from mountains and forests to beaches and desert regions. The state is home to many national parks, including Yosemite National Park, Sequoia National Park, and Death Valley National Park.

    California is also home to a large and diverse population. The state is known for its vibrant culture and is home to many ethnicities, including Hispanic, Asian, and African American communities.

    Business Environment

    California has a diverse and dynamic business environment, with a wide range of industries and companies operating within the state. The state is home to many Fortune 500 companies and is a hub of innovation and entrepreneurship. One of the main strengths of the business environment in California is the state’s highly educated and skilled workforce. California is home to many top universities and research institutions, which produce a steady stream of highly educated professionals. The state also has a large number of immigrants, who bring diverse skills and cultural perspectives to the workforce.

    Newly-Funded Startup in California

    California is also home to a number of major industries, including technology, entertainment, and agriculture. Silicon Valley, located in the San Francisco Bay Area, is home to many of the world’s largest technology companies, including Google, Apple, and Facebook. The state is also home to Hollywood, the centre of the American film industry. California is also the leading producer of many agricultural products, including almonds, avocados, and grapes.

    Despite its many strengths, the business environment in California is not without its challenges. The state has a high cost of living, which can make it difficult for businesses to attract and retain employees. The state also has a complex regulatory environment, which can make it difficult for businesses to navigate. Additionally, California is prone to natural disasters, such as earthquakes and wildfires, which can disrupt business operations.

    Overall, California’s business environment is characterized by its diversity, innovation, and skilled workforce. Despite its challenges, the state remains a popular destination for businesses and entrepreneurs.

    The Famous Silicon Valley

    Silicon Valley is a region in the San Francisco Bay Area of California that is home to many of the world’s largest technology companies and start-ups. The region got its name in the 1970s when it was home to a number of semiconductor and computer technology companies. Today, Silicon Valley is known for its innovation and entrepreneurship, and it is home to many of the world’s most successful and influential technology companies, including Google, Apple, Facebook, and Intel.

    Silicon Valley is a hub of innovation and creativity, and it is home to a large number of technology incubators and accelerators, as well as venture capital firms that fund new technology ventures. The region is also home to a number of research institutions and universities, including Stanford University and the University of California, Berkeley, which produce a steady stream of highly educated professionals who contribute to the region’s dynamic and innovative business environment.

    California has a long history of supporting innovation and entrepreneurship, and Silicon Valley is a key driver of the state’s economy. The region is a major contributor to the state’s GDP and provides employment for a large number of people. Silicon Valley has also had a major impact on the global technology industry, and it continues to be a driving force behind many of the world’s most innovative and influential technology companies.

    Benefits of Starting a Business in California

    Diverse Economy

    California has a diverse and innovative economy, which can provide a range of opportunities for new businesses. The state is home to a wide variety of industries, including technology, entertainment and tourism, agriculture, and manufacturing.

    Access to Funding

    California is home to many venture capital firms and other sources of funding, which can make it easier for businesses to secure the funding they need to grow and succeed.

    Talent Pool

    California is home to many highly skilled and educated workers, which can make it easier for businesses to find the talent they need to succeed.

    Supportive Business Climate

    California has a supportive business climate, with a range of resources and support systems available to help businesses succeed.

    Tips for Successfully Launching a Business in California

    Starting a business in California can be an exciting and rewarding experience, but it can also be overwhelming for new entrepreneurs. Here are some tips for how to get your business up and running in California

    Choose a Business Structure

    The first step in starting a business in California is to decide on a business structure. Some common options include sole proprietorship, partnership, limited liability company (LLC), and corporation. Each type of business structure has its own advantages and disadvantages, so it’s important to choose the one that is right for your business. Choosing the right business structure is an important decision for any business, and it’s especially important in California due to the state’s complex legal and regulatory environment. The business structure you choose will determine how your business is taxed, how much liability you have, and how much control you have over your business. In California, the most common business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

    Different Industry’s Share in Market

    Choose a Business Name

    Next, you’ll need to choose a business name that is unique and reflects your brand. In California, you’ll need to register your business name with the Secretary of State’s office. The name of a business is important because it is one of the first things that potential customers and clients will notice about your company. A good business name can help to differentiate your business from competitors, establish your brand identity, and make it easier for customers to remember and recommend your business. A business name should be unique, memorable, and relevant to your business. It should also be easy to spell and pronounce, and should not be too similar to the names of other businesses in your industry. In addition, it’s important to make sure that the business name you choose is available to use, which means checking to see if the name is already in use by another business and whether it is available as a domain name for your website. When choosing a business name, it’s a good idea to consider the type of business you are starting, your target audience, and the image you want to project. You may also want to consider the potential for growth and expansion, as the name you choose should be able to grow with your business.

    Obtain All Necessary Licenses and Permits

    Depending on the type of business you’re starting, you may need to obtain various licenses and permits in order to operate legally in California. These can include sales tax permits, business licenses, and occupational licenses. Obtaining the necessary permits and licenses is an important step in starting and operating a business in California. These permits and licenses help to ensure that businesses in the state are operating legally and in compliance with relevant regulations.

    One of the first permits that businesses in California need to obtain is a business license. A business license is issued by the local government agency in the city or county where the business is located, and it allows the business to operate within the jurisdiction. Business licenses typically need to be renewed annually.

    Another common permit that businesses in California may need to obtain is a sales tax permit. If your business sells taxable goods or services in the state, you are required to collect and report sales tax on behalf of the state. This can be done by obtaining a sales tax permit from the California Department of Tax and Fee Administration (CDTFA).

    Professional licenses may also be required for businesses that provide professional services, such as legal or medical services. These licenses are issued by the appropriate regulatory board and are typically specific to the profession. In addition to these general permits, businesses in California may also need to obtain special permits or approvals for certain activities, such as selling alcohol, operating a food establishment, or operating heavy machinery. It’s important to research and obtains the necessary permits and licenses before starting your business in California. Failure to do so could result in fines and other legal consequences. You can use the California Business Navigator tool to help you determine the permits and licenses that your business needs. It’s also a good idea to consult with a lawyer or other business advisor to ensure that you are in compliance with all relevant regulations.

    Set up your business finances: You’ll need to set up a separate bank account for your business and obtain any necessary insurance. You’ll also need to decide on a pricing strategy and figure out how you’ll handle taxes.

    Create a Business Plan

    A business plan is a document that outlines your business’s goals, target market, and marketing and financial strategies. It’s a useful tool for securing funding and staying organised as you start your business. Launch your business: Once you’ve completed all the necessary steps, it’s time to launch your business. This might involve creating a website, opening a physical location, or starting to sell your products or services.

    Starting a business in California can be a complex process, so it’s a good idea to seek the advice of an attorney or business coach. Additionally, it can be helpful to connect with other business owners or join a business networking group to get support and guidance as you start your business. A business plan is a detailed document that outlines the goals, strategies, and action steps for starting and operating a business. It is a roadmap for your business and helps you to stay organized and focused as you work to grow and develop your company. To create a business plan, you’ll need to do the following

    Define your business: Start by clearly defining your business, including its purpose, target market, and the products or services you will offer.

    Conduct market research: Research your industry and target market to understand your competition and the needs and preferences of your customers.

    Set goals and objectives: Identify the specific goals and objectives you want to achieve with your business, and outline the steps you will take to reach them.

    Develop a marketing plan: Determine how you will promote and sell your products or services, including your target market, marketing channels, and budget.

    Create a financial plan: Establish your financial projections, including your start-up costs, revenue, expenses, and profit.

    Outline your operations: Describe how your business will be run on a day-to-day basis, including details on your management team, location, and logistics.

    Review and revise: Regularly review and revise your business plan as your business grows and changes.

    A business plan is a living document that should be updated and revised as your business evolves. It’s important to be thorough and include as much detail as possible, as your business plan will serve as a guide for your business and help you to stay focused and on track.

    Challenges in Starting a Business in California

    High cost of living: The cost of living in California is generally higher than in other parts of the country, which can make it more expensive to do business in the state.

    Complex regulatory environment

    California has a complex regulatory environment, which can make it challenging for businesses to navigate the requirements and compliance issues.

    Competition

    California is home to many established businesses, which can make it more competitive for new businesses to succeed.

    Taxes

    California has high state and local taxes, which can be a burden for businesses. Overall, while starting a business in California can be challenging, the state’s diverse economy, access to funding, talent pool, and the supportive business climate can provide many opportunities for businesses to succeed.

    Conclusion

    In conclusion, starting a business in California requires careful planning and a solid understanding of the legal and financial requirements of running a business in the state. By following the steps outlined above, you can set your business up for success and begin the exciting journey of entrepreneurship. Remember to seek the advice of professionals, such as attorneys and business coaches, and to connect with other business owners for support and guidance. With hard work and determination, you can turn your business idea into a thriving reality in California.

    Whether you are a seasoned entrepreneur or a newbie just starting out, it is important to do your research, seek advice from professionals, and be prepared to put in the hard work and dedication required to succeed. With the right mindset and approach, starting a business in California can be a rewarding and fulfilling experience.

    FAQ

    What is needed in California to open a business?

    • Choose a Business Idea
    • Decide on a Legal Structure
    • Choose a Business Name
    • Register Your Business Entity
    • Apply for California Licenses and Permits
    • Pick a Business Location and Check Zoning Regulations
    • Register and Report Taxes
    • Obtain Insurance

    Is California a good state to start a business?

    Yes, it has the highest number of businesses with fewer than five employees, the highest annual payroll for employees, and the best survival rate for entrepreneurs.

    Can a foreigner open a business in California?

    You can start a company in California as a foreigner in a variety of sectors but you will need to obtain a business license or permit first. Applying for and obtaining a business license basically means that you have permission to operate your business or transact in the state of California.

    Is it hard to start a business in California?

    Creating a California business of your own can be challenging. You will need adequate funding, time, personal support, and professional support in order to move forward successfully with your entrepreneurial dreams

  • Who is Takanori Nakamura – How this Failed Silicon Valley Entrepreneur turned billionaire

    Silicon Valley has seen a lot of successful startups and the emerging of the big tech companies such as Google, Facebook, etc. But there has been a recent news where a CEO of one of the companies had become a billionaire and had failed in the Silicon Valley. In this article let’s look at who exactly is Takanori Nakamura and how he turned to be a billionaire.

    Takanori Nakamura – Latest News
    About Rakus Co.
    What is the Story of Takanori Nakamura?
    FAQ

    Takanori Nakamura – Latest News

    Takanori Nakamura a CEO who had failed in the Silicon Valley has become successful in his home country. His company’s stock price has surged and provided a return of around 4,500%. He was pulled out of Silicon Valley in the year 2015 after his mobile marketing software had failed and later on decided to completely take his business into Japan which is his home country.

    Now the efforts put by him are paying off and his company Rakus Co. has seen a surge in its stock price of more than 4000% since the day it was listed in Tokyo. The company that year was also one of the best performances on the stock market index of the country.

    About Rakus Co.

    Rakus Co. is the latest startup in Japan which created a vast wealth for its founder which saw a surge in its price after the company went public. The company is considered to be an example of how some of the hot stocks of the country apply cloud based software and Artificial Intelligence into business ideas which a lot of people consider it to be boring.

    Takanori Nakamura owns around 34% stake in the cloud based expense software firm and serves as the president and the chief executive officer of the company. According to the Bloomberg Billionaires index, his net worth has seen a surge to around USD 1.9 billion.

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    What is the Story of Takanori Nakamura?

    Takanori Nakamura has conveyed that he doesn’t feel real about his newfound wealth. One of the major dreams of Nakamura was to be able to eat out without worrying about the cost and now he is grateful that he doesn’t have to worry anymore.

    Nakamura used to love reading the tales of rags to riches as a boy and had decided in high school that he wanted to be an entrepreneur. He had finished his graduation from Kobe University and soon after that, he joined the telecommunications giant Nippon Telegraph and Telephone Corp in the year 1996. However, after a year he had quit the company.

    He founded a company in the year 2000 which is a predecessor of Rakus Co. The company had provided training to engineers on how to use and operate the Linux which is an open source operating system. The company later had branched out in different areas where it provided services such as email services and a software that helped in automating the data processing.

    In the year 2009, the company had launched its main business which the current business of Rakus Co. The company released a software called Raku Raku Seisan which means easy easy settlement in English. This software helped the workers to create expense reports online and later the company had developed a mobile version of the software as well.

    In the initial stages, the Software had failed to take off and Nakamura had set his sights and thought that they would win and succeed in the Silicon Valley. He had planned to develop a software which helped the companies to analyze how effective their ads that are run on social media and to whether decide to pull or continue to run their ads.

    He had a thought that the company required a pull in the overseas market because the population of Japan was declining during that period of time. But eventually, the idea and the business had failed in the Silicon Valley.

    According to Nakamura, the US based companies were pouring in investments in the Silicon Valley and competing with them was kind of impossible for them. So later on, he realized that with the given resources the company has a better chance to win in their home country and in the year 2015 Rakus Co. had gone public on the Tokyo stock exchange.

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    Conclusion

    The company started taking off as Smartphones became more popular in Japan. According to the company, the software developed has more than 8,000 corporate customers. The company is also estimated to have a potential for medium term and long term growth.

    FAQ

    What is the net worth of Takanori Nakamura?

    The net worth of Takanori Nakamura is 180 crores USD.

    Who is Takanori Nakamura

    Takanori Nakamura is the founder and CEO of cloud software firm Rakus, his company offers cloud-based solutions for small and medium business enterprises. He founded Rakus in 2000 and the company went public in 2015.

  • The Story of John McAfee – The Infamous Techie

    McAfee is a popular antivirus software that almost all of us are familiar with but do you know the real story of John McAfee, the man behind the brand? If not, then you will be shocked to know that the face of McAfee is rather infamous in the world of technology.

    The tech world is bustling with inspirational, energetic, knowledgeable, and respectable people, philanthropists, and people of sheer genius, who are born to outshine the darkness of the decades. Bill Gates, Mark Zuckerberg, Steve Jobs, Elon Musk, Jeff Bezos, Larry Page, Sergey Brin, and their kinds have been hugely influential, but a man as genius and heinous as John McAfee is rare to be found in the world of technology or any other domains.

    Along with being the founder of what has been one of the most popular antiviruses in its days, John McAfee is a man who can easily claim to be one of the most colorful and notorious of characters in real life, soaked in drugs, guns, women, and illegalities of all nature, which has also seen him multiple times behind the bars.

    John McAfee also managed to run for president but obviously, he failed and turned away from it later in 2020. McAfee had witnessed dreadful days, with his father being a violent alcoholic who used to take it out on his wife and son, since his childhood. Had he not had to go through such days, he might have been a better person, but destiny had it otherwise.

    A Look Back at John McAfee’s Past
    How did John McAfee built his career!
    His fortune lied in McAfee
    John McAfee’s Life after McAfee Associates
    When did John McAfee’s Fortune Crumbled
    John McAfee’s refuge in Politics
    McAfee’s Later Years followed by His Recent Death
    FAQ

    John McAfee died in Spain, on June 23, 2021, and this is his story.

    A Look Back at John McAfee’s Past

    John David McAfee was born in Gloucestershire, England in 1945 to an American father and a British mother. His father was an army man and McAfee was born on the US army base in the UK.

    Though John was born in England, his family moved to Virginia soon after that where he spent his early days. His father was an alcoholic, who had anger issues, as he recounts, right from his earliest of days.

    While John was only 15 years old, his father shot himself dead one day. This was a significant event that John couldn’t reconcile with till the end. His violent past seems to be instrumental in the person he later developed into.

    While mentioning his father in an interview, John McAfee was also recorded saying “every day I wake up with him.”

    After his father died, John eventually completed his Bachelor’s degree in Mathematics from Roanoake College. He further went on for his Ph.D. degree in mathematics in Louisiana, when he was caught sleeping with an undergraduate student for which he was expelled.

    How did John McAfee built his career

    It was true that John inherited his father’s fondness for alcohol but after he was out of the university, John had to look for jobs. He was skilled in maths and eventually started learning coding, which enabled him to look for technical jobs.

    His skill in coding and the drive for employment placed him as a programmer in NASA’s New York-based Institute for Space Studies, where he joined at the final days of their Apollo program.

    He left the job in there 1970 and shortly after that he went to Silicon Valley in search of jobs and discovered his love for hallucinogens, including LSD cocaine, and others along with the alcohol that was constant. Though later on, he joined Univac as a software designer and then worked as an operating system architect in Xerox, never did he detach himself from his addiction.

    His constant involvement with drugs and alcohol almost left him lonely at the brink of depression, when he also decided to commit suicide but found his way to AA (Alcoholics Anonymous) and sobered down eventually.

    His fortune lied in McAfee

    After a brief career with Xerox, John joined Computer Sciences Corporation, where he was employed as a software consultant and later began working with Lockheed when he was introduced to the Brain computer virus, the world’s first computer virus.

    Confronted with this new threat that had the potential of causing limitless damages to PCs, McAfee decided to counter this virus with the help of software programs. In this way, he launched McAfee Associates in 1897.

    He started the company initially from his home and ultimately found his way to wipe out the first computer virus of its kind and limit the total damages done by the virus.

    Overwhelmed by his success and an urge to share his knowledge, he published his first book in 1989 titled “Computer Viruses, Worms, Data Diddlers, Killer Programs and Other Threats to Your System“, where he wrote his concerns about the upcoming dangers of similar viruses to computer users.

    McAfee, one of the pioneering antiviruses in America, was an instant hit and soon it started making around $5 million a year when another virus named Michelangelo popped up in 1992.

    Initially billed as a dangerous virus, capable of unfathomable worries for computer viruses, it was rather short-lived and infected only some thousand computers in the presence of McAfee. Sales surely soared for McAfee with this feat.

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    John McAfee’s Life after McAfee Associates

    John McAfee left his company McAfee Associates in 1994 when he resigned and cashed in his shares worth $100 million two years later. John seemed to have settled down with his life after his resignation when he seemed to be counseling startups and entrepreneurs along with lecturing at Stanford’s Graduate School of Business.

    He was also engaged in a host of other ventures, which included Tribal Voice that later on launched the first-ever chat messaging programs in Windows. Furthermore, McAfee founded a yoga retreat near his place in Colorado and in his past time wrote books. McAfee was also involved in donating computers, during this time, to various schools.

    John’s life changed so much that it almost began to seem like a dream retirement but fate simply had its ways.

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    When did John McAfee’s Fortune Crumbled

    McAfee’s fortune crumbled with the financial crisis of 2008 and with it, John’s life took a major bend towards the worse.

    With the onset of this crisis, McAfee had to sell many of his assets and his fortune dwindled to $4 million. He sold his house and packed off from Colorado to settle in a tiny enclave of Belize, on the Caribbean coast.

    Free from all the headaches and other financial troubles, John McAfee started his new ventures, which included the launch of a cigar-making business and a coffee distribution company. It is there that he met the American microbiologist, Allison Adonizio, who disclosed his plan of manufacturing a new class of antibiotics and founded a pharmaceutical company, Quorumex. However, McAfee soon took up his habit of drinking and became a regular customer of a bar nearby, where he soon became a favorite among the local drunks and the prostitutes of the area.

    He even parted with the 12 years old relationship he shared with his girlfriend and became involved with a 16-year-old. His lifestyle became nastier with the influx of guns, girls, and drugs. It also began to get a lot of attention from the local police and coastguards.

    Though he was famous there for his donations of arms and equipment to the local police and coastguards, his life was too conspicuous to ignore by this time. McAfee was finally arrested for manufacturing methamphetamine and the possession of unlicensed firearms, which eventually dropped charges and freed him. However, his life became too erratic to be normal by then.

    In the same year, police found Greg Faull, a friend and a neighbor of McAfee’s, apparently shot dead and came seeking McAfee for the murder, mainly because of the alleged argument that he shared with Faull over the death of his dogs, who were poisoned.

    John McAfee’s refuge in Politics

    McAfee denied killing his neighbor and managed to flee to Guatemala without being arrested, all the time arguing that his life was at risk there because the same offender who killed his neighbor might come looking for him.

    He was finally arrested by the police in Guatemala, soon after which McAfee suffered heart problems, for which he wasn’t extradited to Belize and in turn found his way to the United States.

    McAfee had long been disgusted with his antivirus product that was still registered under his name and also became vocal about his hatred. He even launched a video titled “How To Uninstall McAfee Antivirus” that featured John McAfee frolicking with other half-clothed women, wielding guns, and snorting bath salts.

    He was again arrested for a series of other crimes, which included drunk driving and the possession of firearms, suspected of high caliber and ammunition. In the meanwhile, the court case for the murder of Greg Faull, which was silent but loomed at the background resulted in the issuance of a wrongful death lawsuit that urged McAfee to pay compensation. To avoid all these John seemed to find his refuge in politics.

    McAfee saw him fit for the presidential nominations from the Libertarian Party but his run saw him third, followed by his vice-presidential nominations, which placed him third again

    McAfee dodged taxes like never before and advocated the mining, use, and promotions of bitcoins and other cryptocurrency projects, which he headed. He also developed the Ghost ecosystem that consists of a privacy coin and an exchange.

    McAfee’s Later Years followed by His Recent Death

    The final twist came when he was finally arrested in Spain in October 2020 while he tried to flee to Barcelona from Turkey via airways.

    John was awaiting extradition to the United States, convicted with the charges of tax evasion, concealing assets, and failing to file tax returns until June 23, 2021, when he died in his prison cell in Barcelona on the same date. As per the charges slammed against him, John McAfee, who turned 75 this year, was to face up to 30 years of jail time. However, he evaded that by ending his life apparently by hanging.

    FAQ

    How much was McAfee worth?

    John McAfee was the former CEO of the anti-virus software company McAfee, who had a net worth of $4 million.

    Why was McAfee wanted?

    John McAfee was wanted on charges of tax evasion and cryptocurrency fraud in the US and If convicted, he could have faced up to 30 years in jail.

    What Cryptocurrency did McAfee promote?

    Authorities accuse Mr. McAfee, between 2017 and 2018, of hyping up cryptocurrencies like Verge, Reddcoin, Dogecoin in which he held a stake, then selling them for a profit when their price spiked following his endorsement. They also alleged he secretly took a cut of ICOs he promoted to followers.

  • Who are “Silicon Six” and how they Evaded 100 Billion in Tax?

    The Silicon Six tech giants have been accused by the fair tax foundation for inflating the tax payments by almost USD 100 billion. It was found that during the year 2011 to 2020 the firms have paid less in tax than the national figures mentioned on their annual reports. In this article let’s look at What is “Silicon Six” and how they Evaded 100 Billion in tax?

    Silicon Six – Latest News
    The claim on Silicon Six by Fair Tax Foundation
    Total Tax paid by the Silicon Six
    Did Amazon Evade Taxes?
    Amazon’s Reply to the claim
    Did Facebook Evade Taxes?
    Facebook’s Reply to the claim
    What is a Tech Tax Deal?
    FAQ

    Silicon Six – Latest News

    Silicon Six is the US based tech giants which include Amazon, Facebook, Google’s parent company Alphabet, Netflix Apple and Microsoft. They include the largest companies in the Silicon Valley. These companies have been accused of inflating the tax payments of almost USD 100 billion for the past decade.

    The claim on Silicon Six by Fair Tax Foundation

    A report by the campaign group Fair Tax Foundation ahead of the G7 Summit in the UK where chancellor Rishi Sunak has called on the world leaders to back a new tech tax before the G7 Summit have found that the tech companies which include Amazon, Facebook, Google’s parent company Alphabet, Netflix, Apple and Microsoft have paid USD 96 billion less in tax for the year 2011 to 2020.

    It is claimed that the companies have paid less amount of tax when compared to the national taxation figures they have shown in their financial annual reports.

    Total Tax paid by the Silicon Six

    Fair Tax Foundation has conveyed that the six tech firms have paid USD 149 billion less to global tax authorities than which they should have paid if the headline rates where they operate have been taken into consideration.

    It is found that overall, the companies have paid a tax of USD 219 billion in income tax over the past decade. That is 3.6% of their total revenue which was more than USD 6 trillion. Income tax is paid on the basis of profits earned by the company, but the researchers have conveyed that the silicon six companies have deliberately shifted their income to low-tax jurisdiction places in order to pay less amount of tax.

    Did Amazon Evade Taxes?

    The report based on the regulatory filings of the company has found that Amazon has collected a revenue of around USD 1.6 trillion and reported a profit of around USD 60.5 billion and has only paid a tax amount of USD 5.9 billion for the year 2011 to 2020.

    According to international tax rates, Amazon is supposed to pay an amount of USD 10.7 billion in taxes. The tax paid by Amazon over the past decade from 2011 to 2020 is the lowest of all the silicon six companies that are 9.8%.

    Annual net revenue of Amazon from 2010 to 2020
    Annual net revenue of Amazon from 2010 to 2020

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    Amazon’s Reply to the claim

    A spokesperson of Amazon had commented on the claims conveying that the calculations are extremely misleading. He added that Amazon is primarily a retail company whose profit margins are low and comparing to other tech companies who have an operating profit of more than 50% is completely irrational.

    The company has conveyed that the government writes the tax laws and Amazon has always tried to pay all the tax dues and always encourages the company to file the tax dues. They also mentioned that they have invested billions in creating jobs and infrastructure and said that these investments coupled with low margins would naturally result in a lower tax rate.

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    Did Facebook Evade Taxes?

    Facebook the social media platform that is run by Mark Zuckerberg has just paid USD 16.8 billion in income tax during the years 2011 to 2020. The company has reported a profit of USD 133 billion and a revenue of USD 328 billion. The tax paid as a percentage of profit was just 12.7% which is the second lowest among the silicon six companies after Amazon.

    Annual net revenue of facebook from 2010 to 2020
    Annual net revenue of Facebook from 2010 to 2020

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    Facebook’s Reply to the claim

    A Facebook spokesperson has mentioned that all companies pay taxes on their profits and not their revenues. He added that the previous year, the company has paid USD 4.23 billion in corporate income taxes globally and added that the company had paid an average tax rate of 20.71 % over the last 10 years. This is considered to be roughly in line with the Organisation for Economic Co-operation and Development (OECD) average.

    What is a Tech Tax Deal?

    Chancellor Rishi Sunak has conveyed that he would want the President Joe Biden’s administration to sign up for a tech tax deal and added that the tech companies are not paying the right tax amount at the right places which is not fair and which he wants to fix.

    The US government’s proposals to reform the global tax systems by imposing a minimum of 15% corporate tax would end the profit sharing to tax havens of the big tech companies. Global agreements on tax would have a really big impact on the tech giants with them having to pay billions of additional taxes across the world.

    Conclusion

    However, the rest companies of Silicon six which include Alphabet, Apple, Netflix and Microsoft have not responded to the request on the feedback and have declined to comment on the situation.

    FAQ

    Which companies come under the Silicon Six?

    Facebook, Amazon, Apple, Netflix Microsoft, and Google are known as the Silicon Six.

    Do Big companies pay tax?

    Large multinational companies save billions of dollars by using foreign subsidiaries and tax havens and avoid taxes.

    What big companies pay no taxes?

    In a report it was found that FedEx and Nike are among those who avoided U.S. tax liability for three straight years and atleast 55 large companies paid no taxes in America.

  • Coursera – World’s Largest Online Education Portal!

    With the advent of the internet and smartphones came the opportunity of educating and learning over the internet. And two American Professors, Andrew Ng and Daphne Koller capitalized on this opportunity by launching Coursera in 2012.

    Coursera is an e-learning platform that offers free and paid short courses, skills certifications, and complete degrees. Read this article to know more about Coursera’s company profile, founders, growth, competitors, funding, startup challenges, and business model.

    Coursera – Company Highlights

    Startup Name Coursera
    Headquarter San Francisco Bay Area, Silicon Valley, West Coast
    Sector Ed-Tech
    Founders Andrew Ng, Daphne Koller
    Founded 2012
    Parent Organization Coursera, Inc.
    Website www.coursera.org

    About Coursera and How it Works
    Founders of Coursera and team
    How was Coursera Started?
    Coursera – Startup Launch
    Coursera – Business Model and Revenue Model
    Coursera – Startup Challenges
    Coursera – Competitors
    Coursera – Funding and Investors
    Coursera – Growth
    Coursera – FAQs

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    About Coursera and How it Works

    Coursera is an e-learning platform that offers free and paid short courses, skills certifications, and complete degrees. These educational courses are brought in to the customers by partnering with universities and businesses. Currently, Coursera offers these educational courses at a wide array of prices, from free-to-audit courses to $ 30,000-degree programs.

    Coursera has partnered with more than 190 universities, businesses, and nonprofits. Majorly, the lectures for the courses offered at Coursera are free. However, if a student wishes to get a certificate of completion from Coursera, one can opt to pay for a per-course fee to the platform to participate in the “Signature Track.” This feature gives the students who paid a specific amount of money access to graded assignments, homework, and examinations related to the curriculum of the course.

    If the student completes these assignments in a satisfactory manner, the students under this program, Signature Track earn a verified certificate towards the end of the course. This piece of certification is emblazoned with credentials such as the name of the course and the university that provided its content.

    Henceforth, students who finish these certification courses can display these certificates to their employers or other relevant organizations as a testimony to their professional qualifications and stated skills. This online education startup also offers financial assistance to the students who can demonstrate a genuine need. However, the requirements for such financial aids have now become particularly stringent as the company has grown.

    These education certificates are widely accepted and authenticated. Acknowledgment by the employers is the primary reason for Coursera’s success and the huge acceptance worldwide.

    Founders of Coursera and team

    Coursera was founded by two Stanford computer science professors Daphne Koller and Andrew Ng.

    Andrew Ng and Daphne Koller
    Andrew Ng and Daphne Koller
    • Daphne Koller– Before founding Coursera, Daphne was the Professor of Computer Science at Stanford University, where she served as a faculty for 18 years. She is the author of over 200 refereed publications and has been honored with multiple awards and fellowships.
    • Andrew Ng– Before founding Coursera, Dr. Ng was the founding lead of the Google Brain deep learning project. Dr. Ng has authored or co-authored over 100 research papers in machine learning, robotics, and related fields. In 2013 he was named to the Time 100 list of the most influential persons in the world. He holds degrees from Carnegie Mellon University, MIT, and the University of California, Berkeley.

    How was Coursera Started?

    Coursera was launched by these American Professors with the sole vision to give students from around the globe free access to degrees and other educational courses backed by professors of the top universities. When Coursera was launched, it charged nothing to students who, in turn, did earn an academic credit.

    Universities like Princeton, Penn, and Michigan signed on early during the inception years. And followed by which, tremendous hype followed, giving Coursera the status that it enjoys today. With thought leaders like the New York Times’ Thomas Friedman who very highly wrote about Coursera something like this, “Nothing has more potential to unlock a billion more brains to solve the world’s problems.”

    Coursera – Startup Launch

    After setting the initial steps in the industry, Coursera first started working with a handful of schools like Stanford, Princeton, University of Michigan, and the University of Pennsylvania and more with the idea to bring out a handful of their more popular courses on the internet.

    As of today, Coursera has partnered with many more organizations than just academic institutions like businesses, governments, and nonprofits and it is one of the most sought after education portals around the globe.

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    Coursera – Business Model and Revenue Model

    The Coursera business model and revenue model of is as follows. So basically, Coursera does not do any course production and takes about 40% of the tuition fees. Given that, its marketing costs are relatively low, because it organically reaches a huge number of learners worldwide. Coursera users have to pay a specific amount on the portal to engage with the material published on the site in a meaningful way and take up courses for individualistic purposes. This is the primary source of revenue for online education portals like Coursera.

    Over the years, Coursera has managed to put up a very stable business model. It offers products at quite a wider foray of prices. This wide array includes over 3,100 courses that are absolutely free to audit, the courses under “Signature Tracks” that ranges somewhere between $30 to $100, the courses under “Specializations” that range around $39 to $89 on monthly subscriptions, vast options of online degree programs ranging between $15,000 to $30,000, and lastly “Coursera for Business” for around $400 per employee on a yearly basis.

    Coursera – Startup Challenges

    Coursera’s all-time biggest milestone is to maintain revenue growth and nullify the competition in the same process. Coursera’s online education portals are becoming increasingly crowded with the passing days which intend the above-mentioned milestones addressed with proper guidance. In order to stay on top of the heap, Coursera will have to keep growing, nudging off the competitors and increase its revenue stream at an increasing rate.

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    Coursera – Competitors

    Companies like Pluralsight, edX, Udacity, and LinkedIn pose direct competition to Coursera. All of these offer services comparable to Coursera and cater to the same genre of the audience, more specifically learners and professionals.

    Coursera – Funding and Investors

    Coursera has raised $313.1 million over nine rounds of funding over all these years. According to some sources, it currently has $180 million in the bank. Also according to Forbes, Coursera is worth more than $1 billion.

    Here is a list of all the funding rounds of Coursera-

    Date Stage Amount Investor
    April 2012 Series A $16 Million Kleiner Perkins, New Enterprise Associates (NEA)
    July 2012 Series A $6 Million Kleiner Perkins Caufield & Byers, NEA
    July 2013 Series B $43 Million GSV Capital, International Finance, Learn Capital
    November 2013 Series B $20 Million GSV Capital, Learn Capital
    August 2015 Series C $49.5 Million Kleiner Perkins Caufield & Byers, Learn Capital, NEA
    October 2015 Series C $11.6 Million EDBI, GSV Ventures
    April 2017 Series D – –
    June 2017 Series D $64 Million GSV Asset Management
    April 2019 Series E $103 Million SEEK Group

    Coursera has acquired Rhyme.com on Aug 28, 2019.

    Coursera – Growth

    • Coursera currently offers 3,200 courses in 13 languages and 310 specializations
    • Coursera is partnered with more than 192 institutions over 43 countries
    • Coursera’s partners include prestigious universities like Columbia University, Johns Hopkins and the University of Michigan
    • More than 40 million people have taken online classes through Coursera
    • Coursera closed 2018 with a revenue generation estimated at $140 million more than an estimated $100 million in 2017
    • As of now, Coursera is the largest provider in the online education market
    • By 2026, Coursera is projected to be worth anywhere between $42.97 billion and $65.48 billion worldwide

    Coursera – FAQs

    What is Coursera?

    Coursera is an e-learning platform that offers free and paid short courses, skills certifications, and complete degrees.

    Who are the founders of Coursera?

    Daphne Koller and Andrew Ng, two Stanford computer science professors are the Coursera founders.

    When was Coursera founded?

    Coursera was founded in 2012.

    Are courses on Coursera free?

    Most of the courses on Coursera courses are free but if you want to access graded assignments or earn a Course Certificate, you will need to pay.

    Is coursera legit?

    Yes, Coursera is legit and it’s safe to use. These education certificates are widely accepted and authenticated.

  • List of Top Startup Incubators & Accelerators in Silicon Valley

    A new idea is always really important to develop a company or startup. A new product or service is just a first step and is not the only resource you require on the long run for your company or the startup. It wouldn’t be viable for the long run.

    That is why Incubators and accelerators play a major role in helping you scale your business and making it a successful enterprise. Let’s look at some of the top incubators and accelerators in the Silicon Valley.

    Berkeley SkyDeck
    Edvenswa Tech
    Founder Institute
    Y Combinator
    Women’s Startup Lab
    500 Startups
    BetterLabs
    World Innovation Lab
    FAQ

    Berkeley SkyDeck

    Berkeley SkyDeck is an Startup accelerator located in Berkeley and they mainly focus on the startups from the sectors such as Software, Data and Robotics to provide funding. This was originally formed to accelerate the companies which were founded by entrepreneurs who were associated with UC Berkeley.

    Berkeley SkyDeck Website
    Berkeley SkyDeck Website

    Berkeley SkyDeck provides incubation services to any startup that is affiliated with the Colleges under the University of California. They mainly work with startups that are at an early stage and supports their growth by providing investment rounds, social media marketing, etc. They provide programs which include workshops, networking events, showcase events and many more.

    Some of the major companies they work with are Concha Labs, DevSpace, Hayden AI and many more.

    Edvenswa Tech

    Edvenswa Tech is located in San Jose and they mainly focus on the startups from the sectors such as Software and Artificial Intelligence to provide funding. They work with both small-scale companies as well as well established companies. Edvenswa Tech focuses on providing technological solutions and corporate acceleration services to the companies.

    Edvenswa Tech website
    Edvenswa Tech website

    Edvenswa Tech also provides support and assistance to companies with projects such as mobile application development, UI/UX design, cloud and DevOps integration and many more.

    Some of the major companies they work with are PayPal, Berkeley Haas, March of Dimes, United States Cold Storage and many more.

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    Founder Institute

    Founder Institute is located in Palo Alto and they mainly focus on the Global Startups to provide funding. Founder Institute was found in the year 2009 at Stanford University. It is considered to be the world’s biggest pre-seed startup incubator and accelerator.

    Founder Institute Website
    Founder Institute Website

    Founder Institute provide support and feedback programmes to early-stage startups and their entrepreneurs. They also help them to expand their businesses and help them connecting with a network of startup experts to generate funds.

    Some of the major companies the Founder Institute works with are Udemy, PetHub, Pathgather, Ceres Robotics and many more.

    Y Combinator

    Y Combinator is located in Mountain View and they mainly focus on the Startups and Global Ventures to provide funding. Y Combinator has a unique model for funding startups. Their startup funding programme is similar to a residency programme.

    Y combinator Website
    Y combinator Website

    They invest small amounts on money in the startups twice in a year to a large number of national startup companies. Once they invest in a particular company, they move them to the Silicon Valley, where they later provide them with an intensive coaching programme to prepare the companies for demo and investor pitches.

    Some of the major companies the Y Combinator works with are Stripe, Airbnb, Reddit, Instacart, Dropbox and many more.

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    Women’s Startup Lab

    Women’s Startup Lab is located in Menlo Park and they mainly focus on the Women-owned businesses to provide funding. They focus particularly on the women’s contributions towards the technological industry. Women’s Startup Lab provides acceleration and incubation services to the startups and ventures that are led by women entrepreneurs.

    Women's Startup Lab Website
    Women’s Startup Lab Website

    Some of the major companies the Women’s Startup Lab works with are Razzberry, Pandia Health, BabyQuip, Mihuru and many more.

    500 Startups

    500 Startups is located in San Francisco and they mainly focus on Global Startups and Ventures to provide funding. They are a global venture capital firm and they focus on boosting early-stage startups and help them establish themselves as valuable companies by providing them development services.

    500 Startups Website
    500 Startups Website

    They assist startups and entrepreneurs by providing support in fundraising techniques, digital marketing, customer retention, etc. They host educational events and conferences where they connect the startups with potential investors and partners.

    Some of the major companies the 500 Startups work with are CreditKarma, Justo, Talkdesk, Digital Group, ZipMatch, Tranqui and many more.

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    BetterLabs

    BetterLabs is located in Santa Clara and they mainly focus of Global Startups to provide funding. They provide resources to early-stage startups by encouraging product launch and rapid growth development at low investment rates.

    Better Labs Website
    Better Labs Website

    Some of the major companies BetterLabs work with are Khatabook, Inito, Rodeo, WorkAppsChat, Skill Lync, Interview Mocha, Cradlewise and many more.

    World Innovation Lab

    World Innovation Lab is located in Palo Alto and they mainly focus on Consumer and Enterprise technology to provide funding. They are located in Tokyo as well. They position themselves as a Global Startup ecosystem.

    World Innovation Lab provides resources and support for early-stage startups and lets them use the resources like mentorship and capital to help them grow and set themselves as well established firms. Their incubation and acceleration model consists of direct investments, workshops, mentorship programs, pitch contests, etc.

    Some of the major companies World Innovation Lab works with are Twitter, HubSpot, Fortinet, RingCentral, DocuSign and many more.

    FAQ

    What does a startup accelerator do?

    A tech startup accelerator is an organization created by experienced tech entrepreneurs to help early-stage tech companies develop their product, hone their business model, and most importantly connect with investors.

    What is the difference between an incubator and an accelerator?

    Accelerators accelerate growth of an existing company, while incubators incubate disruptive ideas with the hope of building out a business model and company. So, accelerators focus on scaling a business while incubators are often more focused on innovation.

    How do incubators make money?

    An incubator is a non profit that receives grants and will traditionally make money by charging their resident companies rent. They do offer lower interest loans but given the average success rate of startups, that is not that profitable for them.

    Conclusion

    Incubators and Accelerators always play a major role in the process of the growth and development of the startups. The startup ecosystem has been increasing worldwide and we can see much more startups coming up in the future.

  • 10 Reasons Why Israel is Well Ahead in Startup Race

    Israel spends about 4.4% of its GDP on research and development. The country is a startup on its own. Almost every family has an entrepreneur in them as their culture is developed on entrepreneurship. It often termed as a startup nation. Various startups are coming up in various domains, especially dominated by tech-driven startups. This tiny nation has built what we call a perfect startup ecosystem, with the government, defense forces, investors and people joining hands in building up this. We as a developing nation should pick up some positive points from them.

    According to Statista, the number of startups founded in Israel between 2014 and 2017. In 2017, the number of startups founded in the country was 700, a decline compared to the previous year’s 932. In 2019, the ease of doing business score in Israel reached 73.23. During the period of consideration, the ease of doing business in Israel was 49 in worldwide comparison.

    So, in this post we’ve shared some insights why Israel is well ahead in startup race. Here are some reasons why Israel is a hub for entrepreneurs and entrepreneurship

    Reasons Why Israel is Well Ahead in Startup Race

    Why Israel is Well Ahead in Startup Race?
    Why Israel is Well Ahead in Startup Race?

    Support from Government

    Israeli government started building the startup ecosystem from 1974, by commissioning OCS for Research and Development. Currently, it supports around 30 incubation centres and provides various grants ranging in millions of dollars for startups in tech sectors. The focus is more on tech, biotech and medical technology. Government has also reduced Corporation tax for tech companies from 25% to 6-7% ( depending upon the business ) and AHS removed bureaucratic obstacles to encourage hi-tech mergers. Also in In 1993, the Israeli government initiated a plan called Yozma (Hebrew for “initiative”) offering attractive tax incentives to foreign venture-capital investments in Israel and promising to double any investment with funds from the government.

    The Large Pool of Venture Capital

    With the highest number of venture capital investment in this tiny country, investments per startup have exponentially increased within a few years. The countries have around 75+ active venture capitals, out of which around 20% VCs are international ones with local offices. Some many other VCs do not have a physical presence yet invest heavily in the startup of this nation. Also, the International business person comes back to the country to share their knowledge and money. Some of them became angel investors to back up startups.

    Buzzing Startup Culture

    People are quite enthusiastic about starting their venture. Meetups at coffee shops and people discussing new ideas and innovations are quite common. Israeli startups are more focussed on cybersecurity, edtech, medical technologies and SaaS(Software as a service). Since the population of Israel is less so their target audience is from other big countries like USA, India etc.

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    Co-Working Spaces

    There has been tremendous growth in coworking spaces and accelerators. These help people with the same passion to interact and grow together. Many great and revolutionary ideas came out of these spaces. The startup city of Israel, Tel Aviv has about 80 accelerators and incubators. These have also helped many potential ideas to turn into successful ventures.

    Israel Defense Forces

    Innovations and building technology for IDF have resulted in big startups sprouting up in technological and defence domain. They have helped in solving complex military problems and exporting defence technologies to improve their GDP. Due to the compulsory military training for both men and women makes them relevant and displaced, which eventually helps in their entrepreneurial skills.

    Culture and Community

    Israel is a country of refugee and immigrant, making it a very diverse country. The two-thirds percentage of people in the country are willing to take the risk of entrepreneurship. The culture of the country is made on entrepreneurship. Also, since it is a very small country, there is no local or regional. market, hence forcing the entrepreneurs to think globally. Also, they have tricks and ways to cooperate with funding for themselves.

    Survival Leads to Innovation

    As mentioned above Israel is the country of migrants, they have survived through a lot of suffering. This has to lead to a lot of innovations in Israel as it said survival leads to innovation. This innovation has indulged the spirit of entrepreneurship in the Israelis. They gave then continued this process and keep on building entrepreneurship in their country.

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    Discipline Towards Business

    Israel’s entrepreneurs both men and women, due to their military training are the reason behind their discipline nature and approach towards their business. These are why they are dedicated to their business. They focus on their work ethic and how it’s going to compete in the markets of the world.

    Silicon Wadi

    It is the Silicon Valley of Israel. Situated in the coastal plains of Israel. It is an area with a high concentration of high- technology companies. It is the reason behind the name of Israel as the “startup nation of the world “. It covers much of the country’s High tech industry. Many international technology companies along with ahem their research and development sector situated in here. Example are Intel, IBM, GOOGLE, Facebook, Microsoft etc.

    It is also the home of popular Israel is companies like Zoran Corporation, CEA Inc. Redware etc. It is the perfect place for having a startup and making it a successful one.

    Easy Procedure of Starting a Startup

    It is not very tough to start a startup in Israel. Starting a startup is easy in the startup nation. If someone is willing to, do so, then read the market ecosystem, gather a team of own, form an idea, join a incubator or accelerator if details like pitching, licensing is wanted to be avoided or someone wants to go independent and have the resources, few bucks a relevant idea then Israelis go for it.

    Also Read:

    Conclusion

    Israel is a small country with a population of mere 8 million but the development it’s doing in the field of a startup is commendable. From government to investors everyone is backing the startups. Even though there is risk there but that risk is worth taking for Israelis and they are taking it. Also, there is no end of startups there but each startup is different from the other and has something to offer which is new and needy. They believe in world domination with their products and hence they are working toward it through their startups.