Good morning! Here’s the news:
- Early Facebook investor Peter Thiel has cashed out the majority of his stake in the company. Thiel sold off 20.6 million shares and is holding on to 5.6 million shares.
- Aswath Damodaran, the valuation guru, says he will pull the trigger on buying Facebook stock when it hits $18 a share.
- The CEOs of Apple and Samsung did speak on Monday to discuss the patent trial, but they failed to reach a resolution. The jury will begin deliberating on Wednesday.
- Apple’s suppliers are preparing to ramp up production of the iPad Mini next month in preparation for a fall launch, according to one report.
- Wayne Powers, Yahoo’s top New York sales executive, left the company for a new job at Advance Publications.
- Amazon just launched an “extremely low cost” cloud storage service for archiving and backing up data. It’s called Amazon Glacier.
- Meet Vayable, the startup that cuts the time it takes to plan a vacation from 30 hours to 5 minutes.
- Kleiner Perkins, the once-dominant venture capital firm, gets blown up in Facebook, Groupon and Zynga investments.
- President Obama took a break from the campaign earlier this summer to have an intimate dinner with Apple’s iOS chief Scott Forstall and Facebook billionaire Chris Hughes.
- In case you missed it: Here are the 15 huge questions we have about the iPhone 5.