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FORBES 30 Under The rugged and revolutionary Olympus OM-D E-M1. No matter where life’s INTRODUCING A CAMERA adventures take you, the Olympus OM-D E-M1 can always be by your side. Its AS RUGGED magnesium alloy body is dustproof, splashproof, and freezeproof, so it’ll survive the harshest of conditions. And the super-fast and durable 1/8000s mechanical AS YOU ARE. shutter and 10 fps sequential shooting will capture your entire journey exactly the way you experienced it. www.getolympus.com/em1 Move into a New World ÒThe OM-D lets me get great shots because itÕs rugged and durable. In this shot, I was shooting when the dust was the thickest because it enhanced the light. I even changed lenses and IÕve yet to have a dust problem with my OM-D system.Ó -Jay Dickman, Olympus Visionary Shot with an OM-D, M.ZUIKO ED 75-300mm f4.8-6.7 II • One of the smallest and lightest bodies in its class at 17.5 ounces* • Built-in Wi-Fi • Full system of premium, interchangeable lenses *E-M1 body only contents — JAnUARY 20, 2014 VOLUME 193 NUMBER 1 30 FORBES 30 UNDER 88 | NEXT-GENERATION ENTREPRENEURS Four hundred and f fty faces of the future. 11 | FACT & COMMENT BY STEVE FORBES The lies continue. LEADERBOARD 14 | SCORECARD 2013: a very good year. 16 | BEING REED HASTINGS The man running the show at Netfl ix has a story that any screenwriter would be proud of. 18 | THE YEAR’S HOTTEST STARTUPS A panel of VCs and entrepreneurs selected these businesses from more than 300 contenders. Plus: FORBES makeover. 20 | THE MOST OVERPAID ACTORS Adam Sandler tops the list. Plus: Up-And-Comers. 22 | ACTIVE CONVERSATION A CEO eggs on the haters. THOUGHT LEADERS 24 | CURRENT EVENTS BY PAUL JOHNSON Dealing with Iran: impossible? 78 | THE YOUNG AND THE RECKLESS 26 | CAPITAL FLOWS Is Snapchat more than Silicon Valley’s BY GEORGE LEEF next vanishing act? More college does not beget more economic prosperity. COVER PHOTOGRAPH BY MICHAEL GRECCO FOR FORBES 2 | FORBES JANUARY 20, 2014 IBM Cloud supports 24 of the top 25 Fortune 500 companies. When you’re among the highest-performing businesses in the world, you can’t afford to roll the dice on underperforming alternatives. That’s why more and more of the best companies are tapping into 100-plus Software as a Service (SaaS) business solutions in the IBM Cloud. Start powering your cloud at ibm.com/getstarted This is Cloud on a Smarter Planet. IBM, ibm.com, Let’s Build a Smarter Planet, Smarter Planet and their logos are trademarks of IBM Corp., registered in many jurisdictions worldwide. See current list at ibm.com/trademark. ©International Business Machines Corp. 2013. contents — JAnUARY 20, 2014 28 | INNOVATION RULES BY RICH KARLGAARD Enduring success: soft-edge excellence. STRATEGIES 30 | THE BIGGEST BET EVER George Soros, John Paulson and Leon Cooperman are facing of against Sheldon Adelson over the future of gambling in America. BY NATHAN VARDI 34 | THE BIG EASY’S MOVIE MONEY PIT Louisiana politicians decided handouts would turn the state into a Tinseltown rival. Now they’re stuck with them. BY DOROTHY POMERANTZ 30 | HIGH ROLLERS, TECHNOLOGY 34 | it’s a flOP HIGH STAKES 38 | INSIDE A BEATING Louisiana’s Hollywood A bevy of billionaires battle SILICON HEART tax-break horror show. over online gambling. Designers have used computers for years to build elaborate machines. But what about model- ing complex experiences? Dassault Systèmes is 43 | THE leading the charge. FORBIDDEN BY JOANN MULLER COIN China’s Bitcoin 43 | CHINA BITES INTO BITCOIN crackdown is A speculative frenzy turned BTC China dashing the into the world’s biggest Bitcoin exchange. dreams of a Then Beijing dropped the boom. cryptocurrency BY KASHMIR HILL entrepreneur. ENTREPRENEURS 46 | SECOND LIFE Reggie Aggarwal almost lost his event platform to bad luck and overspending. Here’s how he clawed his way past $1 billion. BY KARSTEN STRAUSS 50 | UNDER THE GUN 50 | READY, FIRE, AIM Profting from a futuristic TrackingPoint makes a $27,500 rife frearm is a tricky shot. so smart that it can’t miss. So why has the company been misfring? BY ABRAM BROWN 46 | SAVING CVENT INVESTING In the event of emergency, reinvent. 54 | TURN DOCTOR BILLS INTO RETIREMENT INCOME Creating super-IRAs out of health savings accounts. BY WILLIAM BALDWIN 56 | MONEY FROM NOTHING Looking for high yields? Consider buying the funds that sell the call options on your stocks. BY JOHN DOBOSZ 57 | PORTFOLIO STRATEGY BY KEN FISHER A big (bull) surprise for 2014. 58 | INVESTOR CHECKUP BY JOHN BUCKINGHAM Beating back the bubble babble. 4 | FORBES JANUARY 20, 2014 SE® PILOT STAINLESS STEEL CHRONOGRAPH WITH 42MM CASE, BI-LEVEL BLACK DIAL, SIGNATURE DOT MOTIF BRACELET. MOVADO.COM BLOOMINGDALE’S SELECT LOCATIONS ©2013 movado group, inc. ©2013 contents — JAnUARY 20, 2014 60 | INTRINSIC VALUE BY DAVID PEARL Cap ex comes out of the closet. FEATURES 72 | REINVENTING WALL STREET Troubled UBS has been transformed into a wealth management juggernaut. BY HALAH TOURYALAI 30 UNDER 30 54 | it’s whaT THE 78 | NOW YOU SEE THEM... 72 | THE NEW UBS DOCTor didn’t order Will Snapchat cofounders Evan Spiegel and Bobby Winning the war for the How to use an HSA to Murphy become the youngest self-made wallets of the world’s play the stock market billionaires ever—or will Snapchat fade wealthiest. triple tax free. into business infamy? BY J.J. COLAO 88 | 30 UNDER 30 LIST Introducing the brightest stars under the age of 30 in 15 diferent felds. EDITED BY CAROLINE HOWARD AND MICHAEL NOER LIFE 104 | PARADISE 2.0 Can Larry Ellison model the future on the 104 | ELLISon’s eden Hawaiian Island of Lana’i? Is economic viability a BY LAURIE WERNER forbidden fruit for the tech honcho’s Hawaiian hideaway? 112 | THOUGHTS On New Year’s diets. EXCLUSIVE! 95 | SUPER BOWL MVP BRUNO MARS’ Bruno Mars’ halftime 30 UNDER 30 PLAYLIST performance could be If you really do want to be a billionaire, start with an even bigger hit than these 22 songs, handpicked by our guest DJ, his latest album—if the Grammy-winner (and 30 Under 30 nominee) weather cooperates. Bruno Mars, to enjoy while reading this issue. To listen along, go to forbes.com/under30. “Move On Up” - Curtis Mayfeld “Mirror in The Bathroom” - The English Beat “More Than a Woman” - Bee Gees “Devil’s Pie” - D’Angelo “Waters of Nazareth” - Justice “God Only Knows” - The Beach Boys “Shake a Lil’ Somethin’ ” - 2 Live Crew “Little Red Rooster” - Luther Allison “Am I High” - N.E.R.D “Butter” - A Tribe Called Quest “Da’ Dip” - Freak Nasty “Me Name Jr. Gong” - Damian Marley “Kung Fu Fighting” - Carl Douglas “All Me” - (feat. 2 Chainz & Big Sean) “Get On the Floor” - Michael Jackson “Animal” - Miike Snow “Somebody to Love Me” - Mark Ronson & The Business Intl. “Won’t Fade Away” - Lewis Taylor “Salute To Kareem” - Red Hot Chili Peppers “Midnight Rider” - The Allman Brothers Band “Sweat (A La La La La Long)” - Inner Circle “Young Girls” - Bruno Mars 6 | FORBES JANUARY 20, 2014 INTRODUCING FEDEX ONE RATE.SM Simple, fl at rate shipping with the reliability of FedEx. Now you can fi ll a box and ship for a fl at rate. Find a location at fedex.com/onerate #onerate Terms, conditions and weight limits apply. Proper packing required. © 2013 FedEx. All rights reserved. FORBES EDITOR-IN-CHIEF IN BRIEF Steve Forbes CHIEF PRODUCT OFFICER Lewis D’Vorkin The Social Network FORBES MAGAZINE EDITOR Randall Lane On Our New App EXECUTIVE EDITOR Michael Noer By lEWIs D’vORKIN ART & DESIGN DIRECTOR Robert Mansfeld What’s a magazine? At FORBES we think it’s an experi- FORBES DIGITAL ence, not sheets of paper. Increasingly, consumers do, too. VP, INVESTING EDITOR Matt Schifrin It’s about turning, clicking, tapping or fipping to discover, MANAGING EDITORS read, learn or be entertained. These actions seem natural. Dan Bigman – Business, Tom Post – Entrepreneurs, Bruce Upbin – Technology The magazine we’ve produced for 96 years has nearly SENIOR VP, PRODUCT DEVELOPMENT AND VIDEO 1 million subscribers. On Flipboard, only a few years old, Andrea Spiegel our stories attracted 1.8 million readers in October and EXECUTIVE DIRECTOR, DIGITAL PROGRAMMING STRATEGY Coates Bateman racked up 44.5 million fips. Still, magazine experiences EXECUTIVE PRODUCER must evolve for new behaviors. In the age of social media Frederick E. Allen – Leadership they need to be far more social. Tim W. Ferguson FORBES ASIA Most magazines remain solitary experiences. A reader’s Kerry A. Dolan, Connie Guglielmo, Kashmir Hill SILICON VALLEY relationship is with the brand, the editors who pick the Janet Novack WASHINGTON stories and the authors who write them. There’s never Michael K. Ozanian SPORTSMONEY Mark Decker, John Dobosz, Luisa Kroll, Deborah Markson-Katz DEPARTMENT HEADS been a way for readers to easily share, connect or be part of John Tamny OPINIONS a community. Kai Falkenberg EDITORIAL COUNSEL We’re changing all that. Last January we launched an BUSINESS iPad app that made it easy to clip and share text, photos, Mark Howard CHIEF REVENUE OFFICER charts or whatever. Pinch the screen with two fngers. Tom Davis CHIEF MARKETING OFFICER Charles Yardley PUBLISHER & MANAGING DIRECTOR FORBES EUROPE Select and frame the content. Tap a Twitter or LinkedIn Nina La France SENIOR VP, CONSUMER MARKETING & BUSINESS DEVELOPMENT or Facebook button to share. With this issue we’re taking Miguel Forbes PRESIDENT, WORLDWIDE DEVELOPMENT a big leap forward. Now FORBES enthusiasts can be part Jack Laschever PRESIDENT, FORBES CONFERENCES Michael Dugan CHIEF TECHNOLOGY OFFICER of a frst-of-its-kind mini social network.
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