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.