World
Artist got shares, now worth $200 million, for painting Facebook office
David Choe, the artist who painted the Facebook Incorporation building in 2005, was not paid in cash. Instead, he was given stock and today the same stock is worth $200 million.
 
David Choe was persuaded by Facebook's founding president Sean Parker to do the work in exchange for stock when the company was just a start-up. Choe asked for $60,000 to decorate the entire Facebook building, but Parker convinced him to take stock instead, valueWalk.com reported.
 
Choe related the experience during an interview with America's famous TV and radio personality Howard Stern in 2014. He said that Parker convinced him to take the stock despite a lack of assurance that it would be worth anything.
 
At the time, Parker was a "skinny, nerdy kid" who told Choe that he was going to raise money for the company. "He got a super-sharp haircut, started working out every day, got tan, got a nice suit. I was like, 'This guy's crazy', Choe was quoted as saying.
 
However, Parker's work paid off after he convinced PayPal co-founder Peter Thiel and LinkedIn Corp co-founder Reid Hoffman to get on board and invest in Facebook.
 
"I believed in Sean. I didn't care about Facebook. I'm like, this kid knows something, and I'm going to bet my money on him," Choe said.
 
Choe claims that he knew that Facebook would at least be able to give him the $60,000 he had originally asked for, because he was present when Thiel decided to invest in the company.

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Dell launches 'world's thinnest' tab
Dell on Wednesday launched what it calls the "world's thinnest" tablet and expanded its India range of products.
 
The company aims to push higher personal computer (PC) adoption in the country. 
 
The PC-maker expanded its XPS, ALienware, Inspiron and tablet series with the launch of the XPS 13, Alienware 15 and 17, Dell Inspiron 5000 laptops and the Venue 8.
 
While the Inspiron 5000 Series will be available at a starting price of Rs.39,990 for the Inspiron 15, inclusive of 2 year at home (on-site) warranty, the XPS 13 will be available at a starting price of Rs.70,990.
 
The Alienware 15 and 17 will be availavle for Rs.125,990 and Rs.145,990 respectively. The Venue 8 7000 Series tablets will be available beginning July at a starting price of Rs.34,999.
 
Commenting on the launch, Ray Wah, vice president, consumer product marketing at Dell said: "We see immense potential for technology adoption in the Indian market. The PC is the hub of creation, and our contribution to the Indian market is to design devices that not only appeal to consumers across all genres, but also consider the unique needs and preferences of that region."
 
"We are designing products that are thin and light, offer exceptional battery life, with style and performance, service and software solutions that customers can only get from Dell." 
 
The company also launched an all-in-one 19.5-inch desktop PC that will be available at a price range of Rs.27,390 to Rs.40,790 (with touch screen).
 
Commenting on the launch of the all-in-one, P.Krishnakumar, vice president, consumer & small business, Dell India said, "We believe that the future of the PC is strong and lies with the youth and their cognizance that technology is the key to the advancement of their ambitions."
 
Dell, which is seeing tough competition from rival brands, believes that the Indian domestic PC market is still unexplored and wants to make PC adoption at homes one of its primary strategies in India. 
 
"With just 10% Household PC penetration the full scope of the transformative nature of technology is still unexplored," Krishnakumar added.
 
Dell, during the launch, revealed that the XPS 13 will ship with a quad HD display and Windows 8.1 powered by a 5th generation Intel Core i7 processor and solid state drives. 
 
The Alienware 15 and 17 will come with an overclocking mode that will enable gamers to draw extra juice from the Core i7 when needed.
 
The Dell Venue 8 from the 7000 series, which the company claims to be the thinnest (6mm) will sport an Intel Atom Z3500 processor.
 
The tablet, which comes without a call function, will come with a 2560x1600 OLED infinity edge-to-edge display. It will also house a first of its kind Intel RealSense Snapshot Depth Camera. 
 
The camera is capable of capturing a depth map for every picture taken.

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L&T to develop commercial space with Hyderabad Metro
L&T Metro Rail Hyderabad Limited (LTMRHL) plans to develop six million square feet of real estate at a cost of about Rs.2,300 crore under the first phase as part of Metro rail project, which is expected to be commissioned in July 2017.
 
Of this 1.1 million square feet of retail and office space is under construction and will be ready next year, announced LTMRHL chief executive and managing director V.B. Gadgil.
 
Gadgil said 40 percent of the commercial space under development has already been booked.
 
The construction major, which is building 71.16 km elevated Metro rail in public-private partnership, has already achieved financial closure for the first phase of Transit Oriented Development (TOD), which is scheduled to be completed with the commissioning of the Metro.
 
L&T also plans to take up development of 12.5 million sq.ft. of space over next 10 years. This may require more than Rs.5,000 crore. "We will raise this money from our internal accruals or borrowings," Gadgil told reporters.
 
This will take the overall investment by the L&T in the integrated project to over Rs.20,000 crore.
 
In 2011, LTMRHL achieved financial closure for Rs.16,375 crore - Rs.14,132 crore for Metro rail system and Rs.2,243 crore for first phase of Transit Oriented Development (TOD).
 
The TOD is being taken up at multiple locations, including the land parcels given by the state government, Metro stations and depots.
 
Unveiling 'Hyderabad Next', the brand of TOD, Gadgil said it would offer office space, retail, hospitality, healthcare and mixed use.
 
By providing ample parking, work, shopping, leisure, entertainment and healthcare, the construction major promises to improve the quality and standard of living in Hyderabad.
 
"Hyderabad Metro rail will uniquely cater to the needs of commuters as well as the non-commuters of its adjoining/adjacent neighbourhoods due to its design as a foot over bridge, coupled with unique total retail space of about 0.45 million sq.ft. on all 64 stations," he said.
 
Dominos, Politos, Medplus and Amul are among the brands which have already booked the space. State Bank of India (SBI) will have one ATM at each station while Bank of Baroda and Corporation Bank will have their ATMs at 20 stations each.
 
When fully commissioned, the developer expects 45-50 percent revenue from fare collection, 40 percent from TOD and 10 percent from advertisements.

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