Peter Thiel Says Carl Icahn Should Not Dictate Silicon Valley (EBAY); Says Bitcoin 'Too Cumbersome' Sep 15, 2014 03:45PM

In an interview with Bloomberg's Emily Chang PayPal, Palantir and Founders Fund co-founder Peter Thiel said Carl Icahn should not be dictating what Silicon Valley does. He also said Bitcoin is "still slightly too cumbersome to work at the end of the day as a new payment system."

Below are some highlights from the interview:

Thiel on PayPal vs. Bitcoin:

"Well, [PayPal] was a failure in that we did not achieve our original vision of a completely new currency system for the world. I'm probably psychologically biased against [Bitcoin] since-- if we couldn't succeeded at PayPal, I'd be tempted to come up with the reasons why nobody would succeed at it at this point. My sense is that [Bitcoin is] still slightly too cumbersome to work at the end of the day as a new payment system.

On whether PayPal should be spun off from eBay:

"It certainly should not be dictated by Carl Icahn-- who, I think-- does not-- so, I think it is-- you know, I think there are very large synergies between-- PayPal and eBay. You know, maybe it's something that we should-- that eBay should consider at some point in the future. But I think eBay was right to resist Carl Icahn. We don't want him to be dictating what Silicon Valley does."

On who should be the CEO if PayPal is spun off:

"It's critical to have someone with a product sense and not someone who's just running it as an operating business. You know, I don't wanna name any names. But obviously, there would be people there that would be good."

On 4 out of 6 PayPal founders building bombs in high school:

"I was not one of those four. But no, it was you know, I think there is something that's always quite extreme about the personalities that go into starting a company. [Building a bomb is] not a good thing. But it is this thing that's-- you know, having some extreme personalities, I think, is a somewhat good thing."

Below is the video:

Apple (AAPL) Will Now Let You Delete Surprise 'Songs of Innocence' U2 Album Sep 15, 2014 03:00PM

Apple (Nasdaq: AAPL) caused a stir last week with its iPhone 6/Watch launch, but one item from the event left some bewildered: a free U2 album.

Regardless of whether you do or don't like U2, many were started to find the album 'Songs of Innocence' in their iTunes library. Some were outraged.

Now, Apple is giving users instruction on how to delete the album. The following was posted by Apple on Monday to its official support page:

Remove iTunes gift album "Songs of Innocence" from your iTunes music library and purchases

Follow these instructions to remove U2’s "Songs of Innocence” from your iTunes music library and iTunes purchases. Once the album has been removed from your account, it will no longer be available for you to redownload as a previous purchase. If you later decide you want the album, you will need to get it again. The album is free to everyone until October 13, 2014, and will be available for purchase after that date.

To remove this album:

  1. Go to
  2. Click Remove Album to confirm you'd like to remove the album from your account.
  3. Sign in with the Apple ID and password you use to buy from the iTunes Store.
  4. You'll see a confirmation message that the album has been removed from your account.

If you downloaded the songs to iTunes on your Mac or PC or to the Music app on your iPhone, iPad, or iPod touch, you'll need to delete them manually.

Additional Information

If you downloaded the album for free by clicking or tapping Free in the iTunes Store, and you confirm you want to remove it, the album will be hidden from your Purchased list. You can unhide it from your Account Settings at any time.

Momo Stocks Whacked; Is It Alibaba Related or Something Bigger? Sep 15, 2014 01:53PM

Traders are noting a lot selling in momentum stocks today, with some of the hottest stocks in the market down 4-10%. Some suggest this could be related to portfolio managers making room for upcoming IPO Alibaba (NYSE: BABA), which is expected to debut on Friday, Sept. 19th.

The five hottest stocks in the market are all lower by a considerable amount:

  • Tesla Motors (NASDAQ: TSLA) Down 9.9%
  • SolarCity (NASDAQ: SCTY) Down 9.3%
  • El Pollo Loco (NASDAQ: LOCO) Down 5.4%
  • Mobileye N.V. (NYSE: MBLY) Down 4%
  • GoPro (NASDAQ: GPRO) Down 3.7%

While some are quick to point out Alibaba, others call 'hogwash' and blame the selling on an anticipated correction in the market. They cite recent 'toppy' action in the market and provide Friday's IPO for ReWalk Robotics Ltd. (NASDAQ: RWLK) as one reason. After a very weak pricing among institutional demand, shares are up 224% since its pricing. They also expect the Fed to make more explicit comments about future interest rate hikes. The Fed has a two-day meeting, September 16-17, and will issue a policy statement on the 17th.

(SI Note: TSLA, GPRO, and MBLY all had moderately negative analyst commentary today, although the comments don't align with today's selling pressure)

Urban Outfitters (URBN) Stirs-Up Controversy with Latest Fashion Attempt Sep 15, 2014 08:29AM

Urban Outfitters (Nasdaq: URBN) is pushing the boundaries of good fashion out to, well, Alpha Centuri, it seems.

According to reports over the weekend, Urban Outfitters offered a vintage Kent State sweatshirt. What throwback clothing isn't unusual, what is unusual is the color scheme of the sweatshirt: it appears to be white with blood accents.

The site had the following description attached to it: Washed soft and perfectly broken in, this vintage Kent State sweatshirt is cut in a loose, slouchy fit. Excellent vintage condition. We only have one, so get it or regret it!

The design was inspired by the Kent State shootings, which is given the following description by Wikipedia: The Kent State shootings (also known as the May 4 massacre or the Kent State massacre)[2][3][4] occurred at Kent State University in the US city of Kent, Ohio, and involved the shooting of unarmed college students by the Ohio National Guard on Monday, May 4, 1970. The guardsmen fired 67 rounds over a period of 13 seconds, killing four students and wounding nine others, one of whom suffered permanent paralysis.

Coincidentally, the sweatshirt is sold out. Shares of Urban Outfitters are flat in early trading.

Apple (AAPL) Could Get 15c on Every $100 Worth of Apple Pay Transactions Sep 15, 2014 08:17AM

Apple (Nasdaq: AAPL) is set to make a nice chunk of change from its Apple Pay initiative.

The Financial Times reported over the weekend that Apple will get 15 cents from every $100 worth of transactions via Apple Pay. This is something that other companies, including Google (Nasdaq: GOOG), failed to negotiate with credit card companies.

Apple was working with banks and credit card companies for over a year on the project, with Apple said to strike fear into partners if they stepped out of line.

The full FT piece is here. Shares of Apple are positive early Monday.

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