Friendster rejects a $30 million bid from Google before fading into oblivion

Friendster rejects a $30 million bid from Google before fading into oblivion

Way back before there was Snapchat, Instagram, Twitter, or even Facebook, Friendster was the hottest social network. The site is widely recognised today as being the grandfather of social media and is credited with laying the foundation for the all-conquering tech titans that dominate today’s online world. Google wanted to buy Friendster for $30 million…

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Verizon rejects Apple’s proposal to distribute the first ever iPhone

Verizon rejects Apple’s proposal to distribute the first ever iPhone

The iPhone began its life with a request from Steve Jobs to Apple’s engineers to investigate the development of touchscreen devices and tablet computers (which in turn, came into existence later on as the iPad). Mr. Jobs unveiled the iPhone at the Macworld convention on January 9th, 2007, to much media fanfare and the revolutionary…

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Mizuho Securities loses £200 million after an employee input error

Mizuho Securities loses £200 million after an employee input error

A fat-finger error is a keyboard input error that occurs in financial markets like the stock market or foreign currency exchange. It’s caused by stressed out traders pressing incorrect buttons on their keyboard which results in huge losses for their employer as a result.   An order to buy or sell may be placed that…

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Gerald Ratner destroys his multi-million pound family business in seconds

Gerald Ratner destroys his multi-million pound family business in seconds

  Gerald Ratner joined his family’s jewellery business in 1966 and built it up into an incredibly successful high street chain during the 1980s.   The shops disrupted the formerly sober jewellery industry with their fluorescent orange posters that advertised cut price bargains. The Ratners Group at the time consisted of Ratners, H. Samuel, Ernest…

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Grandmaster Caz writes the lyrics for Rapper’s Delight but doesn’t get credited

Grandmaster Caz writes the lyrics for Rapper’s Delight but doesn’t get credited

Curtis Fisher, better known by the stage name Grandmaster Caz, is an American rapper, songwriter and DJ. It’s widely known that he wrote a significant portion of the lyrics for The Sugar Hill Gang’s seminal hit Rapper’s Delight, yet never received a writing credit of any kind for his contribution to the song. In 2000,…

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The Canarsee Native American Indians sell Manhattan Island for $24

The Canarsee Native American Indians sell Manhattan Island for $24

Peter Minuit is widely credited by historians as being the man who negotiated the purchase of Manhattan Island from The Canarsee Native American Indians on behalf of Dutch settlers in May 1626. Manhattan later became the location of the Dutch city of New Amsterdam which subsequently became modern day New York. Legend has it that…

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Tim Paterson sells software to Microsoft for $75k that goes on to generate billions

Tim Paterson sells software to Microsoft for $75k that goes on to generate billions

When IBM approached Microsoft seeking a 16-bit operating system, the company had to scrape around to put one together. Rather than writing a new one from scratch, they made overtures to Tim Paterson’s Seattle Computer Products for its existing 86-DOS (aka QDOS) system. Microsoft bought a non-exclusive license for $25,000. The following year it paid…

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Czar Alexander II sells Alaska to the USA for less than the cost of signing Paul Pogba

Czar Alexander II sells Alaska to the USA for less than the cost of signing Paul Pogba

In the middle of the night on March 29th 1867, US and Russian diplomats thrashed out a deal that transferred Russia’s ownership of the territory of Alaska to the United States for $7.2 million. Russia wanted to sell the territory because it feared that it could be lost without compensation if war broke out with…

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Collapse of Enron causes the largest corporate bankruptcy in US history

Collapse of Enron causes the largest corporate bankruptcy in US history

Enron Corp. was a US energy company that achieved stellar success which ended in a dramatic collapse. It was one of America’s largest corporations at the time and Enron’s implosion destroyed the lives of thousands of its employees whilst sending a catastrophic ripple effect through Wall Street. At the company’s peak, its shares were priced…

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Motorola fails to lead the mobile revolution with its Iridium satellite phone

Motorola fails to lead the mobile revolution with its Iridium satellite phone

Barry Bertiger was one of Motorola’s brightest engineers who first concocted the idea for the Iridium project in 1985 when his wife complained that she was unable to reach clients via her cell phone from the Bahamas.   As a result, Bertiger envisioned a communication framework that would allow effortless communication between every corner of…

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