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Marissa Mayer is blowing money on ridiculous things like a $7 million Great Gatsby-themed party, says investor Eric Jackson (YHOO)

Marissa Mayer has got to go.

That's the whole point of a 99-page presentation hedge fund manager Eric Jackson just submitted to Yahoo's board. Jackson's turnaround plan includes bringing in an operator to replace Mayer as Yahoo's CEO and chopping the company's 12,000-person headcount down to just 3,000 people.

To help make his point, Jackson goes over everything Mayer has blown money on, from failed acquisitions to lavish parties and sponsorships. He points out that Yahoo employees get some costly, unnecessary perks, like free iPhones and one year, free Jawbone UPs. He estimates that Yahoo's free food for employees has cost the company over $450 million over four years, or roughly $108 million per year.

Marissa Mayer will make $365 million for five years of work at Yahoo (YHOO)

If she stays on board for another year and a half, Marissa Mayer will make $365 million for five years of work at Yahoo.

That figure comes from Eric Jackson, a manager at hedge fund SpringOwl.

On Monday morning, Jackson sent a 99-page presentation to Yahoo's board of directors outlining his case for why Yahoo should drop Mayer as CEO and find new management.

Mayer's total compensation, if she stays for a full five years at Yahoo, will be $365 million, Jackson says in his presentation, citing SEC filings.

That's assuming that the company's stock at the end of those five years is at $40.34. The $365 million figure includes the one-time $14 million "make whole" award payment she will receive to compensate her for the stock she walked away from when she left Google.

We may look back at 2015 as 'peak iPhone' (AAPL)
Posted December 14, 2015 0:16 AM
We may look back at 2015 as 'peak iPhone' (AAPL)

Morgan Stanley dropped a bomb this week when analyst Katy Huberty predicted that Apple's iPhone sales will drop in its 2016 fiscal year for the first time ever. (Apple's fiscal year ends September 30, before the big holiday quarter.)

This chart compiled by Statista shows how amazing Apple's run has been. The huge jump between FY 2014 and FY 2015 is particularly impressive given the large base Apple was starting from. That increase happened because Apple finally introduced phones with larger screens in late 2014, eliminating the main advantage of the Samsung Galaxy line-up.

A bunch of tech companies are suddenly having parties with a theme of 1920s-style excess

There must have been a run on flapper dresses and fedoras in Silicon Valley this holiday season. 

At least four of the major tech companies in the Bay Area all had the same theme for their holiday party: the "Roaring 2os." 

That period of high-flying excess and the idle rich was memorialized in F. Scott Fitzgerald's "The Great Gatsby," and it seems to be the inspiration for this year's holiday season. 

Most of these parties featured the same sparkly extravagance that marked that time period right before the Great Depression. 

Facebook's holiday party featured high-flying dancers, a casino room, and golden palm trees.

This guy used a frequent-flyer trick to take a $10,000 first-class flight on Cathay Pacific for just $130 — here's what it was like

Travel blogger Sam Huang has made a habit of booking extravagant flights that only cost him a few hundred dollars.

This time, Huang cashed in 67,500 American Airlines miles for a one-way ticket from Chicago to Hong Kong. The first-class ticket on Hong Kong's iconic airline, Cathay Pacific, normally goes for $10,000, but Huang paid just $130 (plus a $75 late booking fee). And he took plenty of pictures.

The first-class cabin Huang was in only had six seats, and he was taken aback by the "level of sophistication and elegance at every turn," he wrote on his travel deals blog,

Love Home Swap acquires Dutch competitor HomeForExchange as it looks to dominate the home exchange market

Love Home Swap, a London-based startup with a platform that allows people to swap their homes with other property owners, has acquired Danish rival HomeForExchange for several million pounds.

Led by cofounder and CEO Debbie Wosskow, Love Home Swap charges homeowners from £12 to list their homes on its platform. In return, they are able to browse other properties and arrange home exchanges with Love Home Swap users worldwide.

Those willing to pay £40 a month can also get a dedicated "swap team," airport lounge passes, prominently featured listings, and verified accounts.

Google's new tablet probably wasn't meant to run Android — which would explain the bad reviews (GOOG)

Google's newest tablet, the Pixel C, was probably never meant to run Android, according to Ars Technica.

This oddity would explain why many reviewers found the operating system, which is primarily designed for smartphones, to be lacking.

Walt Mossberg, a well-respected technology pundit, said in his review that the Pixel C is "an object lesson in what Google shouldn't do if it pursues home-grown integration of hardware and software."

A UK startup just raised £2 million to build virtual reality games

Ndreams, a UK-based games company, has raised £2 million ($3 million) from Mercia Technologies.

The money will be used to build immersive games for virtual reality headsets, such as Samsung's Gear VR, according to the company.

Virtual reality is a fully immersive experience that differs from augmented reality — or mixed reality — which puts virtual things on the real world.

Ndreams was founded in 2006 by Patrick O'Luanaigh, a former Codemasters executive who worked on games including "Hitman" and "Tomb Raider." Its latest funding round follows a £250,000 ($380,000) investment made in early 2014.

The company is currently developing "The Assembly," an adventure game designed to work on high-end virtual reality headsets.

Google has been meeting with the UK government about driverless cars (GOOG)

Google is a big fan of Britain's approach to driverless car technology.

The Californian tech giant has met with UK government officials five times in the last two years, according to documents obtained by The Telegraph — with the UK praised in one meeting as "[showing] remarkable leadership in this area."

Google is one of the key players in the emerging field of autonomous vehicles. Its cars have driven more than 1.2 million miles since its tests began, and the industry is expected to explode over the next few years: There will be a predicted 10 million self-driving cars on the road by 2020.

Microsoft apologised to Surface owners who have had a 'less-than-perfect experience' (MSFT)

The team behind the Microsoft Surface has apologised on the company's community forums to owners who have had a "less-than-perfect experience."  

"For those of you who've had a less-than-perfect experience, we’re sorry for any frustration this has caused," said Josh_F. "Please know that we're reading your comments and hearing you loud and clear. Your input is incredibly valuable." 

The tablet, which competes with Apple's iPad and MacBook lines, has experienced a number of issues, including