The new service will benefit from the creative vision of music icon and newly appointed Chief Creative Officer Trent Reznor and is set to launch in late 2013 as a stand-alone company under the Beats Electronics umbrella.

ENGADGET: Beats Electronics announces project Daisy music service, appoints new CEO

But he also thinks that small stand-alone firms and their entrepreneurs need some protection: hence the Idealab umbrella.

ECONOMIST: Johnny Appleseed.com

The re-charger will consume 50% less stand-by energy than today's models, the GSM Association (GSMA), an umbrella group for the industry, said.

BBC: Universal charger for phones plan