Martin Shkreli Arrested On Securities Fraud | Crunch Report

Apple gives a bunch of people new titles,
WhatsApp is back up in Brazil after getting banned, Lyft redesigns their mobile app for
all our big ass phones, and more… It’s Thursday, December 17th and this is Crunch
Report. Apple’s moving some executive around, starting
with Jeff Williams, who is Apple’s new Chief Operating Officer. Apple hasn’t had anyone
in the COO role since Tim Cook became Apple CEO in 2011. Williams joined Apple in 1998,
was named VP of Operations in 2004, and has been running the Apple Watch business. Phil
Schiller, Apple’s VP of Worldwide Marketing, will now also be running the App Store across
all Apple platforms. This puts Schiller in charge pretty much all developer-related functions
in addition to his other marketing responsibilities, which includes product, international, education
and business marketing on the iPhone, iPad, Mac, Apple Watch and Apple TV. The company
says more than 11 million developers now build apps for iOS, OS X, watchOS and tvOS. Couple
more musical chairs – Tor Myhren will join Apple from ad agency Grey New York in Q1 2016,
replacing Hiroki Asai, who is retiring as Vice President of Marketing Communications
after 18 years at Apple. Johny Srouji, who oversees Apple’s semiconductor business
and other hardware tech, is now Senior Vice President for Hardware Technologies. Srouji
joined Apple in 2008 and led development for Apple’s first system on a chip, which was…
the A4. Martin Shk-reli, the pharmaceutical executive
who raised the price of Daraprim, a lifesaving anti-parasitic drug, from $13.50 to $750 and
became hated by pretty much everyone, has been arrested by the FBI and charged with
securities fraud. Prosecutors say Shkreli committed fraud by illegally using stock from
Retrophin, the company he ran from 2011 to 2014 and was eventually fired from and sued
by, to pay off debts,… this is according to Bloomberg Business. The arrest is NOT related
to his company Turing Pharmaceuticals, which acquired the drug Daraprim, which is used
to treat toxoplasmosis in people with compromised immune systems, like HIV/AIDs and cancer patients.
However, according to a report by Newsweek , Shkreli’s crimes may go deeper than fraud.
The magazine wrote: “A quick summary of the government’s theory: If there was money,
Shkreli took it. If there were facts to be revealed, Shkreli hid them. If there were
securities laws, Shkreli broke them.” Shkreli was released earlier today on a $5 million
bond with his travel restricted to parts of New York. He will next appear in court on
Jan. 20. Last night, a judge in Sao Paulo ordered WhatsApp
to shut down for 48 hours… extremely significant, because WhatsApp is the single most used app
in Brazil, with about 93 million users, or 93% of the country’s internet population,
installed on 92.5 percent of Android devices in Brazil. Here’s what’s up – Brazilian telcos
have been trying to convince the government that WhatsApp’s voice service is unregulated
and therefore illegal, and have blamed the “WhatsApp effect” for driving millions
of Brazilians to abandon their cell phone lines. According to Band News TV, there was
also a specific criminal case involves a drug trafficker in Sao Paulo, that allegedly used
WhatsApp services while committing crimes, and the court wanted access to his communications
with others, which WhatsApp claimed it did not have access to. Today, a Brazilian judge
in a higher court overturned the ban and ordered the lifting of the 48-hour suspension… which
ended up in effect for about 12 hours total, but still very disruptive…rival messaging
system Telegram says it saw 1 million downloads in Brazil in less than a day, due to the outage.
Facebook CEO Mark Zuckerberg wrote of the shutdown “Until today, Brazil has been an
ally in creating an open Internet… I am stunned that our efforts to protect people’s
data would result in such an extreme decision by a single judge to punish every person in
Brazil who uses WhatsApp.” WhatsApp is of course owned by Facebook. Have you a phablet, kind sir? or madam? If
so, join the club. The big phone fad seems to be sticking for now. You’ve got the iPhone
Pluses, Samsung’s got big phones which make up 66% of the market, then LG, Motorola, and
others make a lot more options. But emphasis on BIG PHONE. What sucks about big phones
is that it’s really hard to use them with one hand. Even if you have big hands. So how
to we fix this conundrum? Look no further than Ride hailing service Lyft, which just
launched a newly designed app to make getting picked up even easier with less finger stretching.
Passengers can now reach price estimators, split rides and can contact the driver on
the main screen more ergonomically. This app update also adds jewel toned colors to the
app beyond the company’s signature hot pink, and better breaks down the kind of commute
people need… early morning riders might be going to a meeting or the airport and really
need to be on time… that’s less of an issue, say, after work meeting friends for drinks,
where you might pay a little less for less urgency. First Round Capital. VC firm, or musical parody
gang? When it comes to the holidays, the answer is both. First Round just released its annual
holiday video, which it’s been doing since 2008. It’s a mashup of lots of familiar tunes
from Beiber, The Weeknd, that stupid Uptown Funk song, except the lyrics are all shifted
to tell the story of when little baby Startup was born in a manger or something holiday-esque.
I don’t know. It’s really well done, and if you work in tech, you’ll catch a lot of familiar
faces, and if you really want to parse the lyrics, Drew Olanoff has copied the whole
thing in his article. Kudos to First Round for putting a lot of effort into this yuletide
tradition. You are better people than I will ever be. That’s the report for today. I’m Sarah
Lane. Crunch Report airs every weekday at 7 pm Eastern,
4 pm Pacific, on You can also find us on iTunes, and on YouTube. See you

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4 thoughts on “Martin Shkreli Arrested On Securities Fraud | Crunch Report

  1. Hahaha you can tell Sarah has seen it all at this point and doesn't have patience for industry bullshit anymore. I know that feel.

  2. My first big phone was the Dell Streak 5. I got it after my iPhone 3G stopped working. I knew then and there that I could never go back to using smaller phones. Since then I have used the Note, Note 2, Note 3, and now I'm on the Note 4. Was very close to getting the Nexus 6 but it never came to pass.I have a Samsung Skyrocket I use as a back up phone and cringe every time I pick it up for the first time at how small it is.

  3. Zuckerberg is no saint and it seems what's app will be soon the number one app used by thieves, drug dealers, pedophiles and terrorists.

    Mr. Z and his team needs to better adapt WhatsApp to other countrie's laws.
    Right now it seems to be a high treat to national security of many countries .

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