Facebook almost invested in Chinese smartphone maker Xiaomiaccording to a new report from Reuters—but a deal never came to fruition.

The discussions are said to have taken place during Mark Zuckerberg’s trip to Beijing in October—when the Facebook CEO made headlines for his fluency in Mandarin. At a private dinner, according to Reuters‘s sources, Zuckerberg spoke with Xiaomi CEO Lei Jun about the political and commercial possibilities of a Facebook investment in the company, which might have given the social network a new foothold in China, where it is currently blocked from online usage.

Despite Zuckerberg’s proven track record of bold bets on companies ranging from WhatsApp to Instagram, his considered investment in Xiaomi was reportedly “not huge.”

Ultimately, the investment discussions never formalized—apparently due to Xiaomi’s concern that its dealings with Facebook might not only negatively affect its standing in China, but also that it could hurt its relationship with Google, which supports Xiaomi’s hardware through its Android mobile operation system.

Not that Xioami needed Facebook’s capital. The company recently announced a $1.1 billion round of funding from investors that include Hong Kong-based tech fund All Stars Investment, private equity firm DST Global, and Alibaba founder Jack Ma’s Yunfeng Capital.

[via Reuters]

What Young People Must Know About Entrepreneurship

Do young people view entrepreneurship as a viable career option? Not according to a recent analysis by The Wall Street Journal that showed that only 3.6 percent of households headed by adults younger than 30 owned stakes in private companies. This figure represents a 24-year-low in young entrepreneurs.

While media reports glamorize successful entrepreneurs such as Facebook CEO Mark Zuckerberg and Snapchat CEO Evan Spiegel, the WSJ article calls young entrepreneurs an “endangered species.”

Competition is tough. Capital is scarce. The environment rapidly changes. Education is expensive.

So what should society be telling young people about entrepreneurship?

In November I was involved in an entrepreneurship discussion at Pathways Academy of Technology and Design in Hartford, Conn., along with some other business owners. The discussion was practical and informative, but afterward I realized that it might  have done little to inspire and may have inadvertently scared off the high schoolers by emphasizing initial struggles.

What do young people actually need to hear?

Related: The Joy of Raising a Teen Entrepreneur

1. Youth matters.

It’s been said, “The best time to plant a tree was 20 years ago. The second best time is now.” Many entrepreneurs say they wished they started on their path sooner.

Young people don’t need to wait for an opportunity or idea to hit them. They need to start building their future now.

The sooner you start working toward a goal, the sooner your knowledge, experience and money start compounding. Later on in life, commitments can intrude.

2. Money adds up.

It’s easy to want to divorce notions about launching a business from capital requirements to inspire young people. But it’s better to tell them how much money matters to a business so that they don’t head into life blindfolded.

Many entrepreneurs finance their businesses on their own dime. A credit card can literally mean the difference between success and failure. Money, credit and funding matter to every kind of business.

3. Tenacity is significant.

Young people might view certain businesspeople as somehow inherently different, especially outliers like Apple co-founder Steve Jobs or Tesla Motors CEO Elon Musk. Everyone has ideas, creativity and skills. But not everyone applies them consistently toward goals. Geniuses go broke. Rich people lose their money.

The reality is that people are successful not because of what’s bestowed them but rather what they do with the gifts they have. Young people need to look within, find their strengths and make the most of them.

4. Education carries weight.

Would Mark Zuckerberg have launched Facebook if he had dropped out of community college instead of Harvard? It’s likely that instead of showering his business with massive amounts of capital, top venture capitalists wouldn’t have met with him. The name brand of Harvard matters.

Yet education is just one part of a businessperson’s path. Certain goals require education. Others don’t at all. It’s important to develop a realistic understanding of when and why education plays a role.

Related: Girl Scouts Get Trendy With Gluten-Free, Greek Yogurt Cookies

5. Trends are significant.

Entrepreneurship is now being taught like a subject. High schoolers and college kids around the country are developing ideas for businesses. It’s not surprising that many of these ideas are for mobile apps. But unless you’re launching an app right this second, apps are the past.

In the early days of app development, people developing, say, a fake beer-drinking simulation app probably made a million dollars. But now the competition for apps couldn’t be higher.

Instead of focusing on today’s framework for success, young people should be taught to pounce on and spot trends and think about the next 10 years instead of the past 10.

6. Concrete problems count.

A guy near me opened a business straight out of high school hauling away dirt. Everyone needing their property grounds leveled or cleared called him and he built up a big customer base. He then started selling the dirt.

Now that’s a business model: He got paid twice — and for dirt. Twenty years later, he’s reaped a fortune.

With a media full of Zucks and Musks, young people might think successful businesses build only social-network, apps and rockets. The reality is all over, successful entrepreneurs have figured out how to turn dirt into gold. These stories should be shared. Entrepreneurship, above all else, solves problems. Look for problems and you’ll find answers.

A First Look at the 2016 Ford GT ft. 600+ HP

At this year’s Detroit Auto Show, Ford presented an all-new version of their famed GT. The mid-engine coupe is set to go into production in 2016 and is powered by a new twin-turbocharged Ford EcoBoost V6 with more than 600hp. The launch year was chosen specifically to celebrate the 50th anniversary of Ford GTs placing first, second and third at the 1966 Le Mans, and is set to arrive with rear-wheel drive, a mid-mounted engine and an aerodynamic, two-door coupe body shell. Carbon fiber and aluminum are used throughout, helping keep the weight down and benefiting acceleration and handling.

The design, meanwhile, pays homage to the original GT updated with modern design cues that give it a sharper and more aggressive look. The car sits atop 20-inch wheels wrapped in Michelin Pilot Super Sport Cup 2 tires, which feature a unique compound and structure designed specifically for the Ford GT.

This is how you smuggle 94 iPhones over the Chinese border


A man has been arrested at the Chinese border for attempting to enter China with 94 iPhones strapped to his body, according to a Sina news report. A citizen of Hong Kong, the man had strapped rings of iPhones around his thighs, torso, calves, and crotch, using a combination of plastic bags and masking tape. Pictures show both the iPhone 6 and 6 Plus. The phones have been seized and are currently being held by customs officials.

The latest batch of iPhones have been available in China for months, but smuggling is still common for stolen phones, which are often easier to fence in Asia. According to the report, so-called “mobile armor” is a fairly common tactic for phone smugglers. Police noticed this particular smuggler due to “weird walking posture, joint stiffness, and muscle tension,” an obvious result of covering your entire body in touchscreens.

Air Jordan 11Lab4 Black Patent Leather

Future (@1Future) – Radical

Future returns with another entry for his Monster Monday series as he releases the offiial visual for Radical produced by Metro Boomin. Future new mixtape titled Beast Mode is dropping January 15th.

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