Converting interns to hires has big payoffs

Hiring incredible talent, notably engineers, has become a crushingly hard challenge for most startup founders. While hiring seems like a good problem (you’re growing), try searching for a new Ruby engineer for six months, while your traffic takes off, feedback emails flood in, and product development grinds to a halt.

Lenovo CEO shares $3M bonus with employees

A Lenovo chief executive helped the image of fat cat CEOs everywhere Thursday. Yang Yuanqing (second from the left, above) CEO of the China-based PC maker took $3 million he received above his normal bonus and distributed it to 10,000 underlings. The $314 payout to employees amounted to an entire month of wages for the average factory worker assembling cell phones and other consumer items.

Funding Daily: VC helping hands lead to startup happy feet

Good thing we start happy hour late here at VentureBeat, or we would have missed Fab.com’s big news yesterday afternoon. In other $100+ announcements, Penguin took an independent, self-publishing platform under its wing, and Microsoft and Yammer sealed the deal. If its under $100 million, does it still count as news? Yes! So keep on reading for what happened today, above and below the $100 million threshold.