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How Publishing Upstart Mendeley Weathered Revolt and Became Part of the Paywall
Lashdots writes At Fast Company, Tina Amritha writes about the controversial rise of reference manager startup Mendeley, which inspired revolt among its users when it announced in 2013 it was being acquired by scholarly publishing conglomerate Elsevier. "Seeing that some of our most vocal advocates thought we had sold them out felt awful," CEO Victor Henning said recently over a tea in Amsterdam, where Elsevier, Mendeley's parent company, is headquartered. "I had steeled myself for some pretty violent reactions beforehand. After all, I was aware of Elsevier's reputation and the mistakes they had made."...
Elsevier, like other large publishers, loathed Mendeley's open model; In 2013, it had forced Mendeley to remove its titles from its database. The thinking behind its acquisition of Mendeley—for a sum rumored to between $69 million and $100 million—was simple: to squash the threat Mendeley posed to its traditional subscription model, and to own the ecosystem that Mendeley had constructed, with its valuable data on the behavior of millions of researchers. But Henning contends, "We've kept the promises we made when we began."
Elsevier, like other large publishers, loathed Mendeley's open model; In 2013, it had forced Mendeley to remove its titles from its database. The thinking behind its acquisition of Mendeley—for a sum rumored to between $69 million and $100 million—was simple: to squash the threat Mendeley posed to its traditional subscription model, and to own the ecosystem that Mendeley had constructed, with its valuable data on the behavior of millions of researchers. But Henning contends, "We've kept the promises we made when we began."
if you are worth 350K or more (that would include your car, your house) you are in the 1 percent.
cost of living changes things of course locally, having a million bucks in silicon valley for example probably only puts you in the top 25%, however if people want to keep talking about the "1%" perhaps they should know what they really mean are the ".001%"
have you seen my sig? there are many others like it but none that are the same
Read your own bloody link in the future.
It's $350k in income per year, not in net worth. There is a massive difference between the two. A house counts for the latter and not the former.
According to this article you need around $8 million in net worth to be part of the 1%:
http://www.cnbc.com/id/4880064...
So no, a house doesn't cut it.
No I think your maths is broken.
Current world population 7 billion. 1% of 7 billion is 70 million.
Credit Suisse estimates world wealth at over $250 Trillion - https://publications.credit-su...
According to Oxfam (biased towards putting the wealth into the 1% category) 48% of the worlds wealth is held by the top 1% - http://www.huffingtonpost.com/.... 48% of $250 Trillion is $120 Trillion.
$120 Trillion / 70 million is $1,714,285. Which shows if you want to get into the top 1% you need nearly 5 times as much money as you suggest.