2. eBay bats against online sales tax measures. eBay ( EBAY) weighed in over the debate over online sales tax collection this week. CEO John Donahoe began emailing users last Sunday telling them the Marketplace Fairness Act would burden small online merchants. The San Jose, Calif.-based online marketplace also took to Twitter to send its message out. One tweet said: one tweet saying: "Do you think #SmallBiz owners should be forced to act as tax collectors in all states? Neither do we." Another tweet said the online marketplace company believes businesses with fewer than 50 employees or less than $10 million in annual out-of-state sales should be exempt from the legislation, according to TheStreet.
The bill is supposed to level the playing field between online and bricks-and-mortar stores by requiring online retailers to collect sales tax (still small online retailers with less than $1 million in revenue would be exempt), but has been getting quite the pushback. The Senate was supposed to take up the bill for a vote this week, but so far it hasn't done so. PCWorld mentions that perhaps the vote will take place Friday or Saturday.
There is "a way to offset the cost of credit card processing without alienating customers: Raise prices across the board and then offer discounts to people who pay in cash," Papadimitriou writes. "If you play this right, consumers aren't likely to notice, and instead of being the bad guy handing down fines, you'll be able to play the role of the generous benefactor." 4. Utah venture capital firm launches second fund. Kickstart Seed Fund on Tuesday announced the close of Fund II, a $26 million fund, as well as the addition of two executives to its management team. The second fund follows a successful first fund of $8 million raised in 2008 by Gavin Christensen, Kickstart Seed Fund's founder and managing director. Former Skullcandy ( SKUL) Vice President Clarke Miyasaki has joined the firm as managing director. Alex Soffe, former vSpring/Signal Peak director of finance has come on board as CFO, the firm said. With its new fund and executive team in place, Kickstart will "continue its strategy of sourcing, vetting, syndicating and assisting the most attractive seed-stage venture capital investments in Utah and surrounding states," it said in a release. Kickstart has invested in 24 companies to date, including Needle, Ecoscraps, Fuze Network, and Dropship Commerce, and recently experienced two exits with Panoptic Security in November of 2012 and GroSocial in January of 2013, both of which were acquired. "We are big believers in the region -- the quality of entrepreneurs, the history of innovation, the quality of life and the prospects for the future," Christensen said in a release. "Kickstart was formed to fill both the capital and leadership gap at the seed stage here and our results show that it's working. Having Clarke and Alex join Kickstart allows us to accelerate the successful track record that's been established over the last five years." 5. Why older entrepreneurs are crucial. Are Silicon Valley investors prejudiced against older entrepreneurs? PBS contributor Vivek Wadhwa says they are and it's a big mistake. Wadhwa argues that older workers are usually better at following direction, mentoring and leading. They're also "more pragmatic and loyal, and knew the importance of being team players. They had smaller egos than some of my young recruits did. They were the steadiest performers and stayed with me through the most difficult times," he writes. However, investors in Silicon Valley prefer to fund entrepreneurs "hardly old enough to shave" because they are looking for the next Facebook's ( FB) Mark Zuckerberg and believe that younger entrepreneurs understand emerging technologies, like social media, much better. Employers and investors who believe "that people stop being creative as they reach middle age are dead wrong," Wadhwa writes. "Let's not forget the greatest innovator of recent times: Steve Jobs. His most significant innovations -- iMac, iTunes, iPod, iPhone and iPad -- came after he was 45. So it may be time to get beyond the fascination with the Zuckerbergs and put aside our prejudices. Older workers have a lot to contribute not only to our corporations, but also to startups." -- Written by Laurie Kulikowski in New York. Follow @LKulikowski To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. >To submit a news tip, email: firstname.lastname@example.org.
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