Jack Ma Says Women Executives Are Alibaba's 'Special Sauce'

HANGZHOU, China -- While Silicon Valley grapples with a major gender gap in its workforce, Jack Ma, the founder of Chinese e-commerce juggernaut Alibaba, said Wednesday that women are the "secret sauce" behind his company’s success.

The proclamation came during Alibaba’s first-ever Global Conference on Women and Entrepreneurship. The two-day event in Hangzhou, China, included speeches from women as varied as Queen Máxima of the Netherlands, actress and entrepreneur Jessica Alba and Arianna Huffington, The Huffington Post’s founder and editor-in-chief.

Since starting Alibaba out of his apartment in 1999, both Ma and his company have grown to be giants in China's tech landscape. The business now stands as the country's biggest online marketplace, and has garnered Ma a net worth of over $24 billion. Alibaba is so prominent that over 60 percent of packages delivered in China are from its orders, according to a 2014 New York Times article.

The company was using the event this week to promote women's entrepreneurship, as well as its own relatively strong record on gender equality. According to Alibaba, over 40 percent of all its employees are women. Women make up nearly 35 percent of the company's high-level managers and one-third of its founders.

While those numbers fall short of total gender parity, they still stand out when compared with most Silicon Valley firms.

Several of Alibaba's high-level female employees spoke at the event, including Zhang Wei, Alibaba Group senior vice president, and Lucy Peng, Alibaba Group chief people officer and CEO of a financial services subsidiary. Zhang acted as host throughout the day on Wednesday, while Peng gave a speech on how she evolved at the company and learned to overrule male colleagues.

Ma spoke at the end of the event, and fielded questions from both fans and reporters. He said women approach communication and problem-solving in a way that's particularly important for a service and retail company like Alibaba.

“Men think about themselves more; women think about others more,” Ma said. “Women think about taking care of their parents, their children.”

That essentialist language might raise some eyebrows in feminist circles, as would distinctions that Ma occasionally laid out between men who operate according to logic and women who act more on intuition. But Ma frequently invoked ancient Chinese philosophy, particularly Taoist concepts of yin and yang, in describing his vision of the strengths that women have brought to Alibaba.

"I feel proud that more than 34 percent of senior management are women. They really make this company’s yin and yang balanced," Ma said. "Women balance the logic and the instinct. I would say this is the 'secret sauce' of the company."

Asked about the gender gap in Silicon Valley companies, Ma said that while he doesn't know the numbers, he believes that the most successful companies likely make gender parity a priority.

At least one 2014 report by Fenwick and West appears to bear out Ma’s prediction. The report shows that while Silicon Valley lags far behind in gender equality, the top 15 tech firms do significantly better than the top 100 when it comes to including women in the highest leadership posts.

Los Angeles Votes To Raise Minimum Wage To $15

Los Angeles on Tuesday became the biggest U.S. city to raise its minimum wage to $15 an hour.

Following a hot debate, the city council voted 14 to 1 to approve a plan to gradually increase the required wage to $15 an hour by July 2020. The current $9-an-hour minimum wage was already slated to increase to $10 in January.

The pay bump will affect about 567,000 workers in the city.

“This is a game changer,” Tsedeye Gebreselassie, a senior staff attorney at the wage advocacy group National Employment Law Project, told The Huffington Post minutes after the vote. “L.A. is such a huge city, and it’ll have a national impact on the normalization of $15 as the minimum wage.”

The move comes less than a year after the city council voted to raise hourly pay to $15.37 for nearly 10,000 hotel workers.

The debate over the new minimum wage divided the city. Business groups, including the Los Angeles Chamber of Commerce and the Valley Industry and Commerce Association, warned that the increase would hurt small companies and lead to layoffs.

“A lot of businesses are going to struggle,” Stuart Waldman, president of the Valley Industry and Commerce Association, told HuffPost minutes after the vote. “There’s a lot of employees are going to get raises, but there’s also some employees that are going to lose their jobs.”

Los Angeles, the nation’s second-largest city, joins other West Coast cities, including Seattle and San Francisco, which raised their hourly wages to $15 following waves of protests across the country. Meanwhile, the federal minimum wage has stagnated at a paltry $7.25 an hour for the last four years, despite calls to raise it from President Barack Obama.

“You can see over the course of two years, there’s an evolution of position on what a reasonable minimum wage is,” John Schmitt, research director at the liberal-leaning nonprofit Washington Center for Equitable Growth, told The Huffington Post ahead of the vote. “There’s political activity taking place at city and state level, and it’s moved the national debate.”

The city-by-city approach represents one of a two-pronged strategy by activists to increase minimum wages across the country. The second, centered around the wage activism group Fight for $15, has seen mass demonstrations against fast-food companies, which are some of the largest employers of minimum-wage workers.

“It’s highlighted for the American public that raising wages isn’t just about helping workers and making sure people who are struggling to have enough to get by,” Gebreselassie said. “It’s to address income inequality and have truly meaningful economic recovery.”

“People like me, who work hard for multibillion-dollar corporations like McDonald’s, should not have to rely on food stamps to survive,” Albina Ardon, a 29-year-old mother of two who works at a McDonald’s in Los Angeles, said in a statement sent by a Fight for $15 spokeswoman. “My life would be completely different if I were paid $14 an hour. I could afford groceries without needing food stamps, my family could stop sharing our apartment with renters for extra money, and I’d be able to provide my daughters with some security.”

The wage hike will face one final council vote later this year after City Attorney Mike Feuer drafts a plan to implement the new base pay.

Why A Wegmans In Brooklyn Is Great News For Low-Income Locals

The announcement that Wegmans plans to open a Brooklyn store sent a wave of excitement through New Yorkers on Wednesday. The proposed grocery store, slotted to open in 2017, would bring affordable food prices to a segment of the Fort Greene neighborhood that has long been waiting for its own high-quality supermarket.

The site sits next to the Farragut Houses, a public housing project near the Brooklyn Navy Yard, a city-owned industrial park on the East River. For many years, residents had little access to cheap grocery stores with large selections of fresh foods, even as new buyers poured money into historic townhouses and luxury condos several blocks away.

Back in 2010, former Mayor Michael Bloomberg's administration committed to a redevelopment plan for the dilapidated houses along Admiral’s Row at the Navy Yard. The plan included the construction of a supermarket, but it never got off the ground. Two potential developers had already pulled out by the time Steiner NYC secured its bid this week, with a Wegmans store anchoring the project.

The Navy Yard is situated along the northern border of Fort Greene, where home prices have climbed steadily over the last five years, according to market data from real estate website Trulia.

Townhouses within a quarter-mile of city housing are selling for around $1,100 per square foot, said Jerry Minsky, a broker at Douglas Elliman who also lives in Fort Greene. “You’re getting a lot of people from Europe and Manhattan with an extreme level of wealth,” Minsky said, adding that the area is “going through this Shangri-La now of being great for young professionals” who are making investments with parental support.

As a result, goods and services are also becoming more costly. A few affordable grocery stores in Fort Greene have already or will soon be shuttered, and public housing residents often travel several miles to Costco and Pathmark for lower prices, according to The New York Times.

“It’s hard for people on a lower income to deal with the cost of living when the neighborhood reaches a crescendo like in Fort Greene,” Minsky said. “I can go to a bodega and get organic if I choose it, but some people can’t afford that.”

The arrival of Wegmans, known for its fresh produce and low prices, will likely be a relief for its new neighbors. The store is also looking forward to serving the local community, said Jo Natale, a spokeswoman for the chain. It will begin by creating jobs, with an initial hiring round of 450 employees, many of them locals. Wegmans hopes its Brooklyn store will eventually employ as many as 600 people.

The chain had been looking to open a store in New York, but first needed a substantial plot of land. “This one is 74,000 square feet and large by New York standards,” Natale said of the Admiral's Row location.

The retailer was eager to settle in the Navy Yard when the site was proposed, having previously worked with the developer Steiner NYC on two New Jersey stores in Bridgewater and Manalapan.

Wegmans is still a relatively small retailer, with just 85 stores, mostly located in upstate New York and the mid-Atlantic region. But its popularity is buoyed by a cult-like following of devoted customers and a strong reputation for employee compensation. It’s been named the best supermarket in the country several times.

“Even this morning, we’ve been surprised by the reaction on social media,” Natale said Wednesday. “It’s very heartwarming. We are by most measures a small regional supermarket chain, and it makes it even more exciting to look forward to the opening.”

For now, Steiner doesn't expect the $140 million redevelopment project to impact nearby housing prices.

“New York is so dense that I don’t think it will change the fundamental dynamics of the neighborhood,” said Doug Steiner, chairman of Steiner NYC and Steiner Studios, one of the largest soundstages outside Hollywood and the set of several HBO shows, including "Girls."

As part of the redevelopment deal, Steiner NYC will preserve two buildings on the site. One will be converted into a community facility, and the other set aside for retail or light industrial space, Steiner said.

In addition, the firm will restore an area of around 20 acres near Kent Ave. as part of a studio expansion.

“Wegmans checks all the boxes in terms of affordability and quality, and they’re fantastic employers,” Steiner said. “They’re the ideal supermarket, and it’s long overdue for the area, both for shopping and job opportunities.”

The States With The Most Stay-At-Home Fathers

Not too long ago, it was practically unheard of for a father to raise his children full-time instead of working for money. In the 1970s, only six U.S. men identified themselves as stay-at-home parents. Not 6 percent -- six men, in the entire country.

Last year, by contrast, an estimated 1.9 million fathers remained home with the kids -- accounting for 16 percent of the stay-at-home parent population, according to a HuffPost analysis of U.S. Census data.

That’s definitely a huge step forward for fathers seeking to shed the stigma that still lingers around the idea of a man as primary caretaker. But the figure comes with a significant caveat: Most fathers aren't staying home voluntarily. According to one prominent researcher, 80 percent of those 1.9 million dads would be working outside the home if they could.

The reasons why any parent might stay home are complex and often very personal. The job market is certainly a factor, but the cost of child care and cultural issues also likely play a key role, says Noelle Chesley, an associate professor of sociology at the University of Wisconsin-Milwaukee who has researched stay-at-home fathers.

The Huffington Post took a state-by-state look at men as stay-at-home caregivers, as seen in the map and table in this article. We found some instances where high proportions of dad caregivers seemed to correspond with high unemployment rates. In West Virginia, for example, where men account for an estimated 30 percent of stay-at-home parents, the unemployment rate is 6.6 percent -- well above the national average of 5.4 percent -- and the percentage of adults who are employed is the lowest in the nation.

Yet elsewhere, the correlation did not hold. In South Dakota, for example, 39 percent of stay-at-home parents are fathers, but unemployment is comparatively low.

The very definition of "stay-at-home dad" is also up for debate. The Census Bureau defines the term very narrowly, excluding same-sex partners, single dads and parents of kids who are older than 15, as well the fathers in families where both parents do not work.

Our analysis used a broader definition: any father who's been unemployed for at least a year, and who is also at home with a child or children under 18. With this approach, we sought to replicate the methodology used by the Pew Research Center in a 2014 report.

[Click the column header to sort the data]

AOL CEO: Verizon Deal Will 'Extend The Tarmac' For Mobile

NEW YORK -- AOL CEO Tim Armstrong said Tuesday morning that the company's $4.4 billion acquisition by Verizon would bolster AOL's hope of dominating the burgeoning and lucrative mobile ad market.

Comparing to the company’s mission to an airplane’s flight path, Armstrong said selling to Verizon was not changing direction but, rather, “extending the tarmac.”

“This is not a deal done out of necessity,” he said before a crowd of staffers gathered in the fourth-floor reception room of the company’s Manhattan headquarters. “This is a deal done out of where the future is overall.”

According to Armstrong, one benefit of the deal announced Tuesday morning will be that, thanks to AOL’s push to make its wide variety of media properties mobile-friendly, the merged company will have access to a huge amount of user data from those sites. And while Armstrong did not mention it, data could also flow in the other direction, from legacy Verizon businesses to AOL media properties. The elusive end goal for tech companies is to squeeze every possible penny out of, or 'monetize,' the data they collect. Monetizing data generally means sharing it with other companies, which tends to make the privacy-minded users who generate that data uncomfortable. Now, Verizon and AOL will be able to monetize their data without sharing it with outside parties.

Though Armstrong insisted Verizon wanted to buy AOL mostly for its content properties -- which include The Huffington Post, Engadget and TechCrunch -- many have speculated that the company’s newly launched automated ad platform, AOL One, is the real prize. AOL earned $995 million from display and search ads on its own properties last year. The company made almost as much -- $856 million -- selling ads for third-party sites, according to Fortune. Still, Armstrong said all editorial brands were included in the deal, allaying worries about spinoffs, at least in the near term.

The deal may also boost the companies' work around mobile video.

AOL began investing heavily in video two years ago, when ad sales for online video in the U.S. hit $2.8 billion, a 19 percent increase from the previous year, according to the Interactive Advertising Bureau. That year, the company bought the programmatic video ad platform Adap.tv -- which became a cornerstone of AOL One. A month later, HuffPost launched HuffPost Live, the publication’s streaming video network.

“Mobile is the centerpiece,” Armstrong said. “We need to be on every single screen.”

Verizon, which streams television channels through its FiOS division, also has a hand in the lucrative live-sports business with the exclusive NFL Mobile app.

“You’re going to be at a company that does everything from NFL live games to HuffPost Live,” Armstrong said.

He said the deal was completed just after midnight, hours before the public announcement was made. It began as an operational deal, but became a merger. If the acquisition gets the green light from regulators, the deal will close before the end of summer, Armstrong said.

"This deal,” he said, “puts us at the big table.”

Jenny Che and Damon Beres contributed reporting.

AOL CEO: Verizon Deal Will 'Extend The Tarmac' For Mobile

NEW YORK -- AOL CEO Tim Armstrong said Tuesday morning that the company's $4.4 billion acquisition by Verizon would bolster AOL's hope of dominating the burgeoning and lucrative mobile ad market.

Comparing to the company’s mission to an airplane’s flight path, Armstrong said selling to Verizon was not changing direction but, rather, “extending the tarmac.”

“This is not a deal done out of necessity,” he said before a crowd of staffers gathered in the fourth-floor reception room of the company’s Manhattan headquarters. “This is a deal done out of where the future is overall.”

According to Armstrong, one benefit of the deal announced Tuesday morning will be that, thanks to AOL’s push to make its wide variety of media properties mobile-friendly, the merged company will have access to a huge amount of user data from those sites. And while Armstrong did not mention it, data could also flow in the other direction, from legacy Verizon businesses to AOL media properties. The elusive end goal for tech companies is to squeeze every possible penny out of, or 'monetize,' the data they collect. Monetizing data generally means sharing it with other companies, which tends to make the privacy-minded users who generate that data uncomfortable. Now, Verizon and AOL will be able to monetize their data without sharing it with outside parties.

Though Armstrong insisted Verizon wanted to buy AOL mostly for its content properties -- which include The Huffington Post, Engadget and TechCrunch -- many have speculated that the company’s newly launched automated ad platform, AOL One, is the real prize. AOL earned $995 million from display and search ads on its own properties last year. The company made almost as much -- $856 million -- selling ads for third-party sites, according to Fortune. Still, Armstrong said all editorial brands were included in the deal, allaying worries about spinoffs, at least in the near term.

The deal may also boost the companies' work around mobile video.

AOL began investing heavily in video two years ago, when ad sales for online video in the U.S. hit $2.8 billion, a 19 percent increase from the previous year, according to the Interactive Advertising Bureau. That year, the company bought the programmatic video ad platform Adap.tv -- which became a cornerstone of AOL One. A month later, HuffPost launched HuffPost Live, the publication’s streaming video network.

“Mobile is the centerpiece,” Armstrong said. “We need to be on every single screen.”

Verizon, which streams television channels through its FiOS division, also has a hand in the lucrative live-sports business with the exclusive NFL Mobile app.

“You’re going to be at a company that does everything from NFL live games to HuffPost Live,” Armstrong said.

He said the deal was completed just after midnight, hours before the public announcement was made. It began as an operational deal, but became a merger. If the acquisition gets the green light from regulators, the deal will close before the end of summer, Armstrong said.

"This deal,” he said, “puts us at the big table.”

Jenny Che and Damon Beres contributed reporting.

Why This Live Nation Exec Quit The Business To Become A Meditation Guru

Something changed the moment six years ago when Jason Garner’s mother, sick with stomach cancer, took her last breath in his arms.

After mourning her death, Garner, then 37, returned to his job at event promotion giant Live Nation, where he served as chief executive of the concert division. He didn’t last another year there.

“I realized how much of my life had been subconsciously driven to make my mom proud, to make society proud, to do something, to be a good boy,” Garner, now 42, told The Huffington Post in an interview this week. “I realized there had to be something more. This emptiness and lack of fulfillment I was feeling -- there had to be something more.”

He embarked on a spiritual journey, meditating in the Shaolin Monastery in China and connecting with himself. Now running a consultancy from his home in Manhattan Beach, California, he has devoted himself to teaching business people how to meditate and find inner balance between work needs and personal, spiritual ones.

“As business leaders, we know that if we don’t take care of our workforce, we end up with a sick and diseased workforce,” said Garner, who authored a book on his experience titled … And I Breathed. “The same thing is true with the workforce that are the cells of our bodies. When we nurture them, they respond.”

Each year, American companies lose an estimated $200 billion to $300 billion because of issues related to workers' stress. Meditation can help. Meditating for just 25 minutes a day for three days in a row can decrease how much of the stress hormone cortisol the body emits, according to a 2014 study by Carnegie Mellon University.

Not everyone has the luxury of quitting a high-paying job to find inner peace on the other side of the planet, though. Fortune magazine twice featured Garner on its annual list of the highest-paid executives under 40. Near the end of his Live Nation tenure, he oversaw global tours by such musical acts as Madonna and The Police.

“Luckily, I had worked really hard my entire young life,” he said. “So I was able to put that money to really good use on taking care of myself and discovering these things about myself.”

But finding spiritual balance doesn’t require a Chinese monastery or a full-time commitment to meditation, he said.

“The idea of balance sounds like, if I spend 10 to 12 hours a day working, do I need to spend 10 to 12 hours a day doing some of these monk-like activities? No way,” Garner said. “There’s some really powerful activities that you can build into your daily routine.”

Start the morning with meditation, for instance. Practice yoga after work. Eat nutritious meals.

He compared mending a relationship with the body to making up after clashing with a boss at work.

“If you stopped by the boss’s office and said, hey look let’s smooth things over, they’d say OK and you’d move forward,” he said. “It’s never too late.”