Morning Tech Crawl: Microsoft set to buy LinkedIn
Good morning, Austin! It's been a busy day already for tech news. Check out some of the leading stories:
Microsoft wants to buy LinkedIn, the social networking site for professionals, for $26.2 billion.
That's equal to about $196 per share, a 50 percent premium from the stock's Friday closing price.
The all-cash transaction is expected to close by the end of this year. Microsoft said LinkedIn will continue operating as usually and LinkedIn's CEO will remain with the company.
(For more details on how this acquisition will help Microsoft, check out this Recode story.)
Silicon Valley tech leaders reacted to the Orlando shooting on Sunday, offering condolences and sympathy. Early Sunday a man with a gun killed 49 people at an Orlando nightclub.
Fortune magazine has compiled these reactions, which include comments from Facebook's Mark Zuckerberg to Apple's Tim Cook.
Recode also has a ton of Orlando shooting-related stories, including who to follow for information about the attack.
Bloomberg has the details on a new stock exchange that Eric Ries, author of the popular book on entrepreneur ship called "The Lean Startup," wants to create.
Ries is in the early stages of establishing the Long-Term Stock Exchange, which is designed to counter the problems Ries sees with our current stock exchanges: obsession over quarterly numbers and short-term gains that is harmful to the company and quashes innovation.
The story says Ries has assembled a team of about 20 engineers, finance executives and attorneys and has raised money from investors to create the exchange. But it can take years to gain approval for a new exchange.
The New Yorker has an excellent piece examining why the HBO show "Silicon Valley" is so good. In its third season, the show satirizes Silicon Valley tech culture.
The New Yorker story explains that the show's writers rely on research and extremely knowledgeable consultants - such as the former CEO of Twitter - to drive the accuracy of the show.
