Alto Stock Quotes

Four years later, in 2013, Facebook bought Instagram for one billion dollars in cash and stock. A billion dollars! Driving to Palo Alto in Evan’s Porsche, I couldn’t even conceive of a number that high. I like to think that Mark Zuckerberg learned something from his encounter with us. He wasn’t going to hedge his bets this time with some paltry offer like five hundred million in a mix of stock and cash. He probably said to Kevin Systrom, the creator of Instagram, “You’ve been working on this for eighteen months. I will give you one billion dollars.” I mean, startup, schmart-up. Who could say no to that?

Xerox had an attractive financial model focused on leasing and servicing machines and selling toner, rather than big-ticket equipment sales. For Xerox and its salespeople, this meant steadier, more recurring income. With a large baseline of recurring revenues, budgets were more likely to be met, which allowed management to give accurate guidance to stock analysts. For customers, the cost of leasing a copier is accounted for as an operating expense, which doesn’t usually entail upper management approval as a capital purchase might. As a near-monopoly manufacturer of copiers, Xerox could reduce costs by building more of a few standard models. As owner of a fleet of potentially obsolete leased equipment, Xerox might prefer not to improve models too quickly. As Steve Jobs saw it, product people were driven out of Xerox, along with any sense of craftsmanship. Nonetheless, in 1969, Xerox launched one of the most remarkable research efforts ever, the Palo Alto Research Center (PARC), without which Apple, the PC, and the Internet would not exist. The modern PC was invented at PARC, as was Ethernet networking, the graphical user interface and the mouse to control it, email, user-friendly word processing, desktop publishing, video conferencing, and much more. The invention that most clearly fit into Xerox’s vision of the “office of the future” was the laser printer, which Hewlett-Packard exploited more successfully than Xerox. (I’m watching to see how the modern parallel, Alphabet’s moonshot ventures, works out.) Xerox notoriously failed to turn these world-changing inventions into market dominance, or any market share at all—allowing Apple, Microsoft, Hewlett-Packard, and others to build behemoth enterprises around them. At a meeting where Steve Jobs accused Bill Gates of ripping off Apple’s ideas, Gates replied, “Well Steve, I think there’s more than one way of looking at it. I think it’s like we both had this rich neighbor named Xerox and I broke in to steal his TV set and found out that you had already stolen it.

El encierro claustrofóbico de la Biblioteca Nacional se quebró, años después, con el descubrimiento de la calle Corrientes, que abrió nuevos caminos en mis avatares de lector. Las puertas de sus librerías de viejo, abiertas hasta altas horas de la noche, me atraían con el mismo magnetismo que para otros adolescentes tenía un burdel. La calle Corrientes, entre Talcahuano y Callao, que conocí hacia fines de los años cuarenta, se había convertido en una zona donde circulaba la bohemia artística y literaria. Recalaron en ella las librerías de viejo, que formaban su stock con los remates de bibliotecas privadas vendidas cuando sus dueños cambiaban las grandes mansiones por departamentos. Conocí a los pioneros de estas librerías, al socialista César Moro y a Rafael Palumbo. La librería de este último —cuyo pintoresquismo aprovechó Roberto Arlt en El juguete rabioso— era una cueva oscura y polvorienta, atestada hasta el techo de libros rotos, donde su dueño, ya viejo, envuelto con un chal por sobre una camiseta, vigilaba el local desde el fondo, tomando mate, algunas veces con los pies en una palangana o acompañado por su hija, Rosita Contreras, vedette de teatro de revistas y actriz de cine. También conocí a otros pioneros, más bizarros aún: con el cierre de los prostíbulos en 1936, algunos rufianes y regentas cambiaron insólitamente su anterior profesión por la de libreros de viejo; recuerdo haber visto sorprendido a una mujer madura con aire inocultable de madama retirada frente a la caja registradora. La búsqueda de libros viejos me ocupaba tardes enteras; revolver las mesas o subir a tambaleantes escaleras para alcanzar los estantes altos deparaba la emoción del buscador de tesoros, del cazador furtivo en el bosque: encontrar una presa escondida entre la maleza cuyo valor consistía en ser escasa o difícil de atrapar; descubrir el libro agotado mezclado, en la mesa de ofertas, con fracasadas ediciones de autor, libros de un momento pronto olvidados, saldos de editoriales.

The pretty town of Bolzano is in the mountainous northeastern part of the country, in the Trentino-Alto Adige region, a recent addition to Italy that was chipped away from Austria in 1919 by the Allies as a reward to the Italians for fighting the Germans. Its history is complicated. Its boundaries have been rigged and gerrymandered by whoever happened to have the larger army. Many of its residents consider themselves to be of Germanic stock and certainly look like it. Most speak German first and Italian second, often reluctantly. Other Italians are known to whisper, “Those people aren’t real Italians.” Efforts to Italianize, Germanize, and homogenize the population all failed miserably, but over time a pleasant truce evolved, and life is good. The culture is pure Alpine.