The Exchange: Leta Hong Fincher 26 Oct 2018 China’s fledgling feminist movement has laid the foundations for a #MeToo moment. In the wake of the infamous one-child policy, author Hong Fincher has documented the development of women’s rights, and activism. She joins Katrina Hamlin to explain why their work worries Beijing.
Twitter’s bot purge looks good for business 25 Oct 2018 Monthly users fell again in the third quarter but ad revenue surged, helping the $21 bln company led by Jack Dorsey top expectations. Similar trends three months ago caused a selloff; this time, Twitter’s stock soared. Keeping this version of the meme going is Dorsey’s priority.
Facebook hires one weapon for two-handed fight 19 Oct 2018 Nick Clegg, former UK deputy PM, will lead global affairs at the $450 bln social network. His anti-Brexit stance and EU background could help with tribulations in Brussels. But he’s an odd choice to deal with Washington, where scrutiny may intensify after the midterm elections.
Review: No baby boom for China’s Big Brother 19 Oct 2018 The state hopes to manipulate women for economic and political ends, says Leta Hong Fincher in “Betraying Big Brother”. Once they were workers. Today the priority is bearing babies to defuse a demographic time bomb. A falling birth rate shows the limits of Beijing’s power.
#MeToo has room to spread in India Inc 18 Oct 2018 Companies are rushing to improve practices after a wave of harassment allegations from film stars and journalists. That’s welcome: implausibly few complaints are reported. Where New Delhi has been relatively silent, firms can set the tone. It will help retain more talent too.
Facebook is late to fight second existential crisis 5 Oct 2018 User and government annoyance at poor security, low-quality content and excessive advertising is as big a danger to Mark Zuckerberg’s company as the 2012 growth of mobile. Facebook finally appears focused on the threat, but it won’t be as easy to solve.
SoftBank helps Bytedance sing a $75 bln tune 2 Oct 2018 A $3 bln cash injection from foreign investors puts the Chinese viral news and video-sharing startup on track to become one of the world's most valuable. At home, it has amassed a huge user base to challenge giants like Tencent. Success abroad makes it stand out even more.
The Exchange: Europe’s tech-slayer in chief 27 Sep 2018 Margrethe Vestager has taken on Apple, Facebook and Google as Europe’s antitrust commissioner, leaving behind huge fines and bruised feelings. She talks with John Foley about Silicon Valley’s missteps, Europe’s challenges and what she’s buying on Amazon – her latest target.
U.S. data privacy suffers from too many cooks 26 Sep 2018 Amazon, Apple and other tech executives said a single federal privacy law is needed to avoid fragmented state rules. Different standards also apply to the healthcare and financial industries, while data collection extends beyond tech. Europe has some ideas to offer.
Facebook at risk of smothering its golden goose 25 Sep 2018 The departure of Instagram’s founders after six years as part of Mark Zuckerberg’s social network isn’t worrying on its own. But the photo-sharing app could suffer if too closely identified with its parent. Facebook needs Instagram’s growth. Squeezing too hard could kill it.
Washington traps Big Tech in pincer movement 13 Sep 2018 The Federal Trade Commission may change its antitrust and consumer-protection policies, with issues like inequality part of the debate. Facebook and others already face scrutiny from the DOJ and Congress. The squeeze from all sides may restrict M&A and spur a push for breakups.
Wall Street brains mostly stumped by tech dilemmas 10 Sep 2018 Giant opportunities and pay packages lured Imran Khan and other rainmakers to Silicon Valley. Their record is mixed at best at Snap, Alphabet and Twitter. Raising capital is easy, instilling discipline harder, and finding ways to beat dominant rivals nearly impossible.
Jack Dorsey tops Sheryl Sandberg as tech’s DC rep 5 Sep 2018 The usually dry Twitter CEO seemed more genuine than Facebook’s polished No.2 at a Washington hearing. Dealing with fake accounts, election meddlers and the like may hurt growth. But the industry needs a good envoy to tackle the regulatory threat. Dorsey may be the one.
Chinese news app IPO delivers hilarious feed 23 Aug 2018 Tencent-backed Qutoutiao, or "fun headlines", filed to go public in New York hours after raising money privately. The unprofitable outfit pays users to read, lacks important licenses to operate in China, and even rights to its name are shaky. The prospectus befits the business.
Tinder parent gives Facebook a dating lesson 10 Aug 2018 Owner Match Group said the swiping app will have more than $800 mln in revenue this year. Shares have tripled since its 2015 debut as it rakes in money from subscriptions. The successful model only highlights the shortcomings of the social network’s wannabe status.
Pinterest shapes up for anti-millennial IPO 8 Aug 2018 The social app is among the last to tap public markets. Prince Alwaleed buying a stake in Snap suggests investors still like the sector. A valuation between the disappearing-message service and Twitter suggests Pinterest is worth around $13 bln, a tad more than last year.
Don’t expect tech giants to stifle Alex Jones 7 Aug 2018 Facebook, Apple, Alphabet et al have, after excessive vacillation, taken the hateful rantings of the Infowars founder off their platforms. As private companies, that’s their right. But until Jones is bankrupted for libel, he will have many other ways to spread his noxious bile.
Privacy builds a wider moat for Apple’s margins 31 Jul 2018 The iPhone maker’s premium prices and fast-growing services powered earnings in the latest quarter. Selling hardware rather than advertising once seemed like a weakness. But in the wake of Facebook’s woes, CEO Tim Cook is using data security to buff the brand – and profitability.
Twitter purges users and shareholders alike 27 Jul 2018 The social network’s efforts to reduce spam, fake users and toxicity shrank active monthly users. Investors fled as well. That leaves both the platform and valuation more salubrious. Healthy returns will now depend on finding growth.
New Facebook pessimism overshoots reality 26 Jul 2018 Forecasts of reduced growth and margins wiped nearly 20 pct, or about $120 bln, off the social network’s valuation. That’s an astonishing hit. Investors now implicitly expect growth to be run-of-the-mill within a few years. That’s replacing excessive optimism with undue glumness.