PODCAST: Zuckerberg loses face value and Pepsi does Twitter
Mark Zuckerberg, CEO of Facebook, makes a speech to the media in Palo Alto, California. This week, after stock losses, Zuckerberg fell to the 41st richest person in the world.
Rumors are swirling about a possible stimulus plan in China. Global markets were hoping the country would pump money into its economy and help spur global growth. But this morning, there are reports that China may pull back on the plan.
Mark Zuckerberg is losing face or at least face value. Shares of Facebook have dropped pretty steadily in the week and a half since the company started selling stock. Facebook shares fell 9.5 percent yesterday to $28. The 28-year-old Zuckerberg has lost more than $4.5 billion in the last 11 days -- his place on Bloomberg's index of the world's 40 richest people. He's now ranked 41st. Zuckerberg is currently on his honeymoon in Italy where he has reportedly not been tipping his waiters.
It's not just Google with the driverless cars. A consortium in Europe has just done a road test of a system, where specially equipped cars join a convoy, link up electronically, and then-hands off the steering wheel and pedals -- the car drives itself like it's a boxcar in a train. A Spanish highway, 124 miles, nobody crashed. In English, the project is called Safe Road Train for the Environment, acronym SARTRE, like the philosopher. 'Course, you don't need a driverless car to contemplate existentialism behind the wheel.
In an effort to revive their brand image and win back market share from Coke, Pepsi is launching a new, hip partnership with Twitter. Today Pepsi revealed the details: free downloadable songs and live-streaming music concerts. Pepsi followers will be able to play D.J. by suggesting set lists and will hopefully guzzle more Pepsi while they do it. Natalie Zmuda is a reporter with Advertising Age and oversees beverage marketing. She tells us what Pepsi hopes to gain from the partnership which is the largest Twitter marketing campaign to date.