10 Things You Need To Know This Morning

cisco john chambers

Good Morning! Here’s today’s news to know:

  • Google, Facebook, Twitter, LinkedIn, and Zynga are all fighting for top engineering talent. The average annual salary for an engineer in Silicon Valley is $120,000.
  • The parent company of photo sharing service PicPlz has raised $5 million in funding from Andreessen Horowitz, which also has seed money invested in hot iPhone photo company Instagram.
  • Walmart is still trying to beat Amazon. It will offer free shipping this holiday season for all items on its website with no minimum purchase price.
  • Facebook has a secret media event planned for next Monday. Is it going to announce its email product? Or will it be another boring Facebook event?
  • Cisco’s shares are dropping like stones in pre-open trading, down 14.5%, after the company delivered a downbeat outlook on its earnings call.
  • New York startup Art.sy is about to raise funding from an impressive list of investors which includes Wendi Murdoch, Jack Dorsey, Chris Dixon, Eric Schmidt, and Jim Breyer.
  • One third of the top hundred grossing apps are free apps, which means they only make money from in-app purchases.
  • Reviews of iPad rival, the Samsung Tab are mixed. Gizmodo hates it, the Pogue likes it, but thinks it’s pricey, and Mossberg thinks it’s good but prefers the iPad.
  • Google street view captured drug dealers working their corner in Brooklyn, says the New York Post. (Looks like the police didn’t use Street View to apprehend these dealers, just to tip off the New York Post as to who they are.)
  • Another Google exec denies that the company is building a full fledged social network to rival Facebook.

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