Latest news with #Dotcom
CNBC
3 days ago
- Business
- CNBC
53-year-old's career survived the Dotcom tech crash—her advice for people working in AI now: ‘Don't be a fraud'
Growing up, Gabrielle Heyman, 53, did not know what she wanted to do with her life. "I thought that I wanted to be in film when I was younger because I'm from L.A. and I have family in film," she says. "But then when I tried it, I found people were just really mean," especially to those in the assistant positions she was taking. It was while working as an assistant at CBS in 1998 that she decided to apply for a job at the company doing sales for online campaigns. "It was the dawn of the internet," she says, "so they were just building their internet ad sales team." The people were nicer, it turned out, and she found she had a knack for sales. Heyman continued to build her career with roles at Electronic Arts, Yahoo and BuzzFeed. Today, she serves as vice president of global brand sales and partnerships for video game developer Zynga. Despite her eventual success, those early days of the World Wide Web were tenuous. Here's how Heyman survived and her advice for anyone starting in a brand-new field — like today's budding AI. There was a lot of hype around the internet when Heyman started her career. The 1990s saw lots of investment in internet-based companies, but beginning in 2001, when many of those companies ultimately failed and shut down, the Dotcom bubble burst. As many as 168,395 tech jobs were cut that year alone, according to outplacement company Challenger, Gray & Christmas. "I was sure I was going to be laid off in the Dotcom crash," she says. She was working at Electronic Arts by then, which cut 250 jobs in October 2001. "And I wasn't laid off." Heyman believes what helped her hold onto her job was being both good at and passionate about what she was doing. You have to "know your s---" in these moments, she says. "Don't be a fraud." When industries are the zeitgeist, many people flock to them to try to capitalize on the boom. That includes entrepreneurs creating businesses with no clear path for profitability, she says. The draw is the opportunity to cash in rather than their genuine interest in making something that works, she says. When demand for that field levels out and some of those companies fold, "there's a lot of riff raff cut out," she says of the people who aren't genuinely interested — taking many jobs with them. To survive in a new field — like AI, for example — you have to care about it. That means reading articles, "being up on what clients are doing, playing with the technology yourself," Heyman says. And be discerning about who you're interviewing with. "Look at how the company is investing in long-term talent, infrastructure and leadership," she says, adding that, "it's often easy to spot the difference between companies chasing trends and those building for the future."
Otago Daily Times
29-04-2025
- Business
- Otago Daily Times
Dotcom staying at Mosgiel mansion, denies purchase
The large home on the outskirts of Mosgiel reportedly bought by Kim Dotcom and his family. Photo: Supplied Internet entrepreneur Kim Dotcom has moved into one of Mosgiel's grandest homes as he continues his recovery from a stroke, but denies he has bought the property. In a text to property website OneRoof, Dotcom said he would be staying at the house until June. OneRoof also confirmed the property's title had not changed hands. The 51-year-old German-born businessman normally resides in Glenorchy, near Queenstown, but has spent much of the last six months in the Dunedin area receiving treatment after he suffered a stroke last year. In a post to X (formerly Twitter) earlier this year, he stated that he had some memory loss, speech impairment issues and was also using a wheelchair after the medical event. Mosgiel Community Board chairman and Dunedin mayoral candidate Andrew Simms confirmed the move. "He's right across the road from me," Mr Simms said. Kim and Liz Dotcom. Photo: Supplied Mr Dotcom had some "significant health issues" and Mr Simms understood he needed to be close to a hospital. "We wish him all the best in respect to his recovery. We're pleased the house has been sold and that the family's moving in. "I would expect the entire community to be welcoming of that." The home has a valuation of $2.8 million and was designed by renowned architects Mason & Wales and built in the 1980s. The property includes an in-ground heated swimming pool and change rooms, housed in a conservatory style building next to the home. It was described in the property listing as "one of the most admired properties in the Dunedin/Mosgiel area" and sits on more than 2ha of land. The property includes a large indoor swimming pool. Photo: Supplied Dotcom, a former CEO of file-sharing website Megaupload has lived in New Zealand since 2010 and has consistently attracted controversy. His Auckland property was raided in 2012 as part of an attempt to extradite him the United States for copyright infringement. Justice Minister Paul Goldsmith signed off on his extradition to the US last year.
Otago Daily Times
28-04-2025
- Business
- Otago Daily Times
Dotcom moves into mansion to be close to hospital
The large home on the outskirts of Mosgiel reportedly bought by Kim Dotcom and his family. Photo: Supplied Internet entrepreneur Kim Dotcom has moved into one of Mosgiel's grandest homes as he continues his recovery from a stroke. The 51-year-old German-born businessman normally resides in Glenorchy, near Queenstown, but has spent much of the last six months in the Dunedin area receiving treatment after he suffered a stroke last year. In a post to X (formerly Twitter) earlier this year, he stated that he had some memory loss, speech impairment issues and was also using a wheelchair after the medical event. Mosgiel Community Board chairman and Dunedin mayoral candidate Andrew Simms confirmed the move. "He's right across the road from me," Mr Simms said. Kim and Liz Dotcom. Photo: Supplied Mr Dotcom had some "significant health issues" and Mr Simms understood he needed to be close to a hospital. "We wish him all the best in respect to his recovery. We're pleased the house has been sold and that the family's moving in. "I would expect the entire community to be welcoming of that." The Dotcom family's new four-bedroom home has a valuation of $2.8 million and was designed by renowned architects Mason & Wales and built in the 1980s. The property includes an in-ground heated swimming pool and change rooms, housed in a conservatory style building next to the home. It was described in the property listing as "one of the most admired properties in the Dunedin/Mosgiel area" and sits on more than 2ha of land. The property includes a large indoor swimming pool. Photo: Supplied Dotcom, a former CEO of file-sharing website Megaupload, has lived in New Zealand since 2010 and has consistently attracted controversy. His Auckland property was raided in 2012 as part of an attempt to extradite him in the United States for copyright infringement. Justice Minister Paul Goldsmith signed off on his extradition to the US last year.
Otago Daily Times
28-04-2025
- Business
- Otago Daily Times
Kim Dotcom buys Mosgiel mansion
The large home on the outskirts of Mosgiel reportedly bought by Kim Dotcom and his family. Photo: Supplied Internet entrepreneur Kim Dotcom has moved into one of Mosgiel's grandest homes as he continues his recovery from a stroke. The 51-year-old German-born businessman normally resides in Glenorchy, near Queenstown, but has spent much of the last six months in the Dunedin area receiving treatment after he suffered a stroke last year. In a post to X (formerly Twitter) earlier this year, he stated that he had some memory loss, speech impairment issues and was also using a wheelchair after the medical event. Mosgiel Community Board chairman and Dunedin mayoral candidate Andrew Simms confirmed the move. "He's right across the road from me," Mr Simms said. Kim and Liz Dotcom. Photo: Supplied Mr Dotcom had some "significant health issues" and Mr Simms understood he needed to be close to a hospital. "We wish him all the best in respect to his recovery. We're pleased the house has been sold and that the family's moving in. "I would expect the entire community to be welcoming of that." The Dotcom family's new four-bedroom home has a valuation of $2.8 million and was designed by renowned architects Mason & Wales and built in the 1980s. The property includes an in-ground heated swimming pool and change rooms, housed in a conservatory style building next to the home. It was described in the property listing as "one of the most admired properties in the Dunedin/Mosgiel area" and sits on more than 2ha of land. The property includes a large indoor swimming pool. Photo: Supplied Dotcom, a former CEO of file-sharing website Megaupload has lived in New Zealand since 2010 and has consistently attracted controversy. His Auckland property was raided in 2012 as part of an attempt to extradite him the United States for copyright infringement. Justice Minister Paul Goldsmith signed off on his extradition to the US last year.
Forbes
11-04-2025
- Business
- Forbes
Market Whiplash: Should You Sell Stocks Amid Trump's Tariff Uncertainty?
Trump has imposed sweeping tariffs on imports. Over the last few trading days, the stock market has delivered a masterclass in volatility: If you're feeling whiplashed, you're not alone. Unfortunately, this dramatic movement—up and down—isn't an error in the system. It is the system itself at work. The S&P 500's average daily move is just 0.75%. Most of the time, the market drifts calmly within a relatively tight range, and gains and losses are rarely more than one percent on any given day. Then, without warning, volatility spikes, and markets swing wildly—often in rapid succession. The stock market frequently experiences huge spikes in volatility. The chart above, showing daily S&P 500 returns since 1978, illustrates this vividly: long stretches of relative quiet punctuated by bursts of intense volatility. This pattern isn't accidental—it's built into the market's DNA. Market volatility isn't a bug. It's a feature. The 9.5% gain on April 9th wasn't just large; it was statistically absurd—a move greater than eight standard deviations from the average. According to bell-curve math, an event this extreme should happen: Yet since 1978, we've experienced 11 such eight-plus standard deviation days. Similarly, the nearly 5% and 6% market drops on April 3rd and 4th were four- and five-standard-deviation events, which theoretically should occur only: But the market has experienced 48 of these 'impossible' days since 1978. Clearly, real markets don't obey the tidy bell-curve models taught in finance textbooks. Market volatility doesn't follow a neat pattern. It's rarely just fear followed by calm. Instead, it often oscillates between: … as investors struggle to price uncertainty. Investors' move through a range of emotions over the market cycle. Look at the recent sequence again: This sort of volatility is typical when markets confront radical uncertainty like the trade war has introduced. We're currently in the thick of volatility—the storm is here. Now isn't the time to build resilience from scratch; it's time to practice good investor behavior. Here's what you should do right now: We can't predict the future, but we can certainly learn from the past. Every significant volatility spike—the Global Financial Crisis, the Dotcom bust, the COVID crash—felt terrifying at the time. Yet, portfolios diversified across bonds, and different classes of stocks came out okay. Investors who stayed calm and stayed invested enjoyed strong future returns. Check out the chart below, which highlights notable adverse events. From our perch in the future, the stock market turmoil these events caused now look like minor blips. Big market moves look like blips with the perspective of time. Of course, each of the above crises was different than the current trade war. But every time is different. We hadn't had a financial crisis since the Great Depression until 2007 brought us the Great Financial Crisis. We hadn't had a global pandemic since the Spanish Flu of 1918 until COVID came calling in 2020. And so on . . . . But the pattern has remained the same – the stock market recovers. Obsessively checking your portfolio during volatility won't help. In fact, it's quite the opposite. Constantly tracking daily swings magnifies anxiety, making disciplined decisions harder. The best investors remain calm by tuning out short-term noise and focusing on their long-term goals. Trust your portfolio to do its job over time. No one, not even 'experts,' can reliably predict what happens next. This is especially true now, given that a single person, President Trump, has the power to chart the course of the trade war and economy, and nobody knows what he will do next. Jumping out of the market risks missing the rebound—which historically arrives swiftly and unexpectedly. Missing that rally is far more damaging than enduring temporary volatility. Once you leave, it's psychologically harder to re-enter. Stay the course. The most significant rewards in investing don't go to those who try to predict volatility—they go to those who patiently endure it. Keep calm, stay invested, and trust that your patience will ultimately be rewarded. And remember that you're not alone if you struggle to maintain perspective and navigate this uncertainty. My book, The Uncertainty Solution: How to Invest with Confidence in the Face of the Unknown, tackles precisely these challenges—helping you understand volatility, manage uncertainty, and how to behave so that you and your portfolio thrive through turbulent times.
