10 Things You Need To Know This Morning

william lynch barnes and noble ceo with nook

Photo: Steve Kovach, Business Insider

Good morning! Here’s the news:

  • Barnes & Noble is spinning out its Nook business, and Microsoft is investing $300 million the new company.
  • Barnes & Noble’s stock shot up 80% on the news.
  • Apple is legally dodging billions in taxes through a number of elaborate systems.
  • Apple responded to the tax dodging accusations with a defensive statement about job creation.
  • We are in a tech bubble because some startups don’t immediately generate revenue, says the NYT.
  • No, we’re not in a tech bubble, just look at the public market valuations of tech companies, and the fact that startups still have cheap series A rounds, says an investor.
  • Apple cofounder Steve Wozniak thinks Microsoft’s Windows 8 phone is beautiful.
  • Tumblr President John Maloney, who was ‘adult supervision’ is out of the company.
  • YouTube cofounder Steve Chen explains his new company to us.
  • Google is on the cusp of losing control of Android.

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