What is Digg?54 Comments
- Pottersquash, on 10/12/2007, -4/+22A Kevin Rose digg, while counted as only one digg has the effect of 500 diggs as any story dugg my Kevin Rose will surely be dugg by atleats 500 members of the Church of Rose. The Digg engine merely inticipates this and moves a story to the front page as to all members of the Chruch of Rose to excerise thier religious belief without interference.
If you have a problem with this, your nothing more than a religion hating commie. - KyleRayner, on 10/12/2007, -5/+14Supposedly there's some top secret, highly mathematical algorithm that checks digg count, frequency, and....ok yeah, because Kevin Rose dugg it.
- inactive, on 10/12/2007, -0/+8900 million to the IRS and 40 bucks to me for making my PC soooooo damn slow!
- green67, on 10/12/2007, -5/+13wow....and I thought I had problems.
- cleverboy, on 10/12/2007, -3/+9bbeahm: "Just because Kevin Rose dugg it?"
Look at your friends list. Count the amount of "mutual" friends you have. Look at Kevin's friendlist, count the amount of "mutual" friends he has. Count the amount of stories you've submitted that have gone to the homepage. Count the amount of stories he's submitted that have gone to the homepage. It's not rocket science, but using numbers like that to elevate stories makes very clear sense, without any "Church of Kevin" blather to bolster it along.
Here's an idea: Digg is a site powered by networking. This we kind of know... So... start your own Digg-centric podcast, make it nice and popular, and tell all your listeners to check out Digg and make you their friend. Submit decent quality stories and get a number of your friends (who also have a tendency to submit stories that go to the homepage) to Digg your story.
In Conclusion: Not all Diggs are created equal, but like any democracy... make some more high-powered friends, kiss some babies, and try again. It'll all work out. - Galeos, on 10/12/2007, -0/+5These were taxes the IRS are saying Veritas were liable for from *before* the aquisition. Therefore the IRS will claim them from Veritas' new owners, Symantec.
- inactive, on 10/12/2007, -1/+5We all have to start somewhere...getting your PC stand still for no apparent reason because of Norton is a right of passage, you know...
- ahhell, on 10/12/2007, -1/+5Too bad someone can't bury Symantec all together.
Nothing would make me happier than someone smashing in Norton's smug face. - GuineaPig, on 10/12/2007, -0/+3This is mainly over patent infringement. The government invented the idea of extracting money from its citizens by preying on their fears. Symantec uses this strategy without compensating its inventor.
- pbjorge12, on 10/12/2007, -0/+3Yeah...He created the site...And he's an idol for many a' nerds...
- birdwatcher3000, on 10/12/2007, -0/+2Expect your antiviri software to expire soon...
- wayjer, on 10/12/2007, -3/+5Somebody call Security.
- sadsac, on 10/12/2007, -0/+2Yes, when you owe 900mil, the IRS asks nicely. When you are a common middle class worker, they seize your house, car, bank account and ask questions later.
- inactive, on 10/12/2007, -0/+2Peter Norton sold his company to Symantec back in the late '90s - he is nothing to do with it now
- ModernDayDarwin, on 10/12/2007, -0/+2I must be living in a shelter somewhere. I didn't know Kevin Rose wsa on this site...and I only vaguely know who he is.
A note on the story: it seems symantec is getting doubly screwed by Veritas, tripply if nothing else. They have to pay taxes on acquiring them, they have to pay back taxes that Veritas owed from years ago, AND their stock prices are going down the crapper with the acquisition. Fun times ahead at symantec. - sonicdevo, on 10/12/2007, -1/+3Here's the answer to the US's federal tax mess:
http://www.fairtax.org
It's progressive, encourages saving and investment, and best of all... abolishes the IRS. :) - kazsymonds, on 10/12/2007, -2/+3Ah i see, so expressed as a formula it could be,
kevin rose
------------------------- x dennis rodman
queen of england
Divided by the number you first thought of, obviously. - NCC1701A, on 10/12/2007, -0/+1Would this be termed: "Due Diligence?"
- astrotrain, on 10/12/2007, -0/+1Just like Taxes did in Al Capone... so shall taxes do in Symantec **bump one less pc hog of a virus checker off
the ladder**. - inactive, on 10/12/2007, -4/+5Yeah an in the us we tend to attack people with our righteousness... HE didnt REALLLY WANT to know how many zeros in 900 million.
Actually there are only two 0's in 900 million, 900,000,000 is another term with more zeros that means the same thing. Azzhat! - shiftt, on 10/12/2007, -2/+3why did you even install it?
- inactive, on 10/12/2007, -0/+1if their tax returns are as messy as their programs registry entries, then it will take years to figure out how much they really owe.
What they should do is deny the download of the symantec removal utility until the IRS drops it. symNRT is the bet program they ever invented. - swaxhog, on 10/12/2007, -2/+3It does seem really strange. A company aquires another company and somehow the IRS nets almost a billion dollars for it. What's even worse is their stock price has sunk buying them out so they've lost even more money/value. Woe is them.
- masteryoda, on 10/12/2007, -2/+3Exactly there is no tax on acquisitions in India too. There is capital gains tax when you sell the same for a tidy profit. Wonder how many zeros in 900 million :-)
- brettbum, on 10/12/2007, -0/+1There's a more thorough version of this story at Red Herring http://www.redherring.com/Article.aspx?a=16541&hed=Symantec+Faces+Hefty+Tax+Bill§or=Industries&subsector=SecurityAndDefense
There are two parts to this
Veritas claim $900m
Symantec claim $100 m
That's a total of $1b
If you glance at the IRS rules for calculating penalties and interest your head will spin.
However the penalty for not paying is 0.5% per month for every month not paid.
so Veritas if we lump it all at the end of 2001 and say they didn't pay $900 million for 2002,3,4,5, and last 3 months of 2006
So that's $45 million per month for conservative 51 months = $2,295,000,000 in penalties excluding taxes (not compounded)
Plust interest at 6% per year (not compounded) - $54 million per year for 4 years + $13.5 million last three months = $229,500,000 in Interest
Then you have a $100 million Symantec Tax bill based on their subsidiary setup in an Irish tax haven to tranfer profits out of the US to Ireland (not making a moralistic comment just stating the facts)
This is for 2003/2004, so if we look at it like it all happened at the end of 2004 for simplicity, we have 12 months in 2005 and 3 months in 2005 for penalties
Or $5 million per month for 15 months = $75 million in penalties
That leaves $6 million in interest for 2005 and $1.5 million year to date for 06 in interest
Add it all up
Veritas tax claim $900m
Veritas Penalties $2.295B
Veritas Interest $229m
Symantec tax claim $100m
Symantec Penalties $75m
Symantec Interest $7.5m
Grand Total Potential claim - $3.607 Billion
Reality Check
Symantec will fight the tax claim and will negotiate to reduce the penalties and interest charges. However, as there is a significant amount of pressure from Wall Street, they probably need to wrap this up quickly.
No matter what they'll have to cook their estimates of what they think this will really cost into their reserves to provide a provision for it and that will hit the bottom line in their quarterly(may be there already).
Others have pointed out that it might have been smart of Symantec to perform a little due dilligence of Veritas.
I think Symantec is getting the picture now. They just bought an open can of worms and attracted the IRS's attention to look at their other transactions as well. - joxrox22, on 10/12/2007, -0/+1$900 million to continue funding the Iraq take-over. *****.
- lechatron, on 10/12/2007, -0/+1This does not bode well for my stock options...
- opticwind, on 10/12/2007, -0/+1"DOnt buy the hype.. the only way a flat tax could work is if it is progressive.. Higher tax rate for luxery items"
Er...we do have luxury* taxes in the U.S. - inactive, on 10/12/2007, -1/+2The acquisition isn't the issue here. The fact that the company Symantec acquired was 900 million in IRS debt is. If you buy a sick company, you become responsible for their debts.
- zodiacal, on 10/12/2007, -0/+1this is ONE case where the government might spend the money more wisly than a private company...
- XStatic, on 10/12/2007, -0/+1At least they don't own Turbo Tax
- ajb2015, on 10/12/2007, -0/+1In 20 years, 900 million will be chump change, then they will pay it.
- XSforMe, on 10/12/2007, -0/+1"Their Corporate AV isn't bad."
Just make sure you renew your workstations every 6 months. - szelij, on 10/12/2007, -0/+1Holy ***** *****. $900 MILLION? Even estate taxes don't go that ***** high usually. Symantec will fight it for sure. Litigation will rage for 20 years if necessary, its $900 million! Didn't symantec know about this before the acquisition? If it didn't they could sue the former veritas owners for non-disclosure right?
- Nocturnalis, on 10/12/2007, -0/+0No wonder we are having such a hard time trying to get KVS Enterprise Vault to work. We have been on call with every level of support in Symantec.
- mpeng168, on 10/12/2007, -1/+1IRS is asking?
- ShadowNetworks, on 10/12/2007, -0/+0Maybe McAfee could help? We wouldn't want to see poor Norton get into a perdicament here now would we?
Teehee, the IRS misses nothing. - inactive, on 10/12/2007, -1/+1yes we do but with the talk of the flat tax and scrapping the tax code that includes the luxery tax.
and the flat tax proposed is like a 30% straight up sales tax..
my proposal is like 15% for items under $100
20% for items 100-10000
30% for items that cost more. - Alphateam, on 10/12/2007, -0/+0Their Corporate AV isn't bad.
- cleverboy, on 10/12/2007, -2/+2It's simpler than that...
d = mc˛
[D]igg factor EQUALS
[M]omentum (speed of diggs) TIMES
[C]ompadres (amount of friends) SQUARED
(squares - geekiness of friends)
Surely, the geek shall inherit the earth. - wicketr, on 10/12/2007, -1/+1Good I hate Symantec for making me upgrade every year. I'm about to give up on them anyway. They're a ripoff.
- betasp, on 10/12/2007, -3/+3Can't hide from the IRS...
- CaughtThinking, on 10/12/2007, -1/+1900 million, de-quire, de-quire!
- hoowahman, on 10/12/2007, -1/+1it's probably frequency.
- humbledstrength, on 10/12/2007, -0/+0Point and laugh HA-HA! Could this be the end?!?
- sadsac, on 10/12/2007, -1/+1Of course Kevina must have some pull...
The story announcing Sarah Lane's marriage had 148 diggs in one hour, but never made the front page and now doesn't even show up in any type of search. It's a mystery alright!
http://www.digg.com/technology/Sarah_Lane_-_Former_TechTV_Host_is_Getting_Married - joxrox22, on 10/12/2007, -0/+0Damn rights. They don't give a ***** to the common person or a nobody.
- kazsymonds, on 10/12/2007, -1/+1Capital acquisitions arent taxable (not in the uk at least) so how can the liability have arisen from this?
Capital gains tax is computed when you dispose of the asset (*in this case another company), if you make a gain that is, no tax would be paid for an aquisition! - inactive, on 10/12/2007, -3/+2It really is time for the IRS to go. Most people dont know we didnt have federal taxes until not long ago.
And none of this flat tax crap... DOnt buy the hype.. the only way a flat tax could work is if it is progressive.. Higher tax rate for luxery items.. low for food and inexpensive items. Otherwise the poor get killed on tax just getting food.
But it costs us billions a year just to collect taxes and go after tax cheats like symantec. - inactive, on 10/12/2007, -2/+1For all you sad people suffering with Norton as part of the Norton Internet Security Suite, I have one thing to say:
Next time buy the Corporate version. It's lean, runs fast, and does exactly what you expect without hogging resources. -
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