New Trump administration policies aimed at curbing China’s access to American innovation have all but halted Chinese investment in U.S. technology startups, as both investors and startup founders abandon deals amid scrutiny from Washington, Trend reports referring to Reuters. Chinese venture funding in U.S. startups crested to a record $3 billion last year, according to New York economic research firm Rhodium Group, spurred by a rush of investors and tech companies scrambling to complete deals before a new regulatory regime was approved in August. Since then, Chinese venture funding in U.S. startups has slowed to a trickle, Reuters interviews with more than 35 industry players show. U.S. President Donald Trump signed new legislation expanding the government’s ability to block foreign investment in U.S. companies, regardless of the investor’s country of origin. But Trump has been particularly vocal about stopping China from getting its hands on strategic U.S. … [Read more...] about Chinese tech investors flee Silicon Valley as Trump tightens scrutiny
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When asked whether he was afraid of what would be said in Washington about such an approach to Russia, Brown replied in the negative. © Sputnik / President Trump Takes Aim at the Silicon Valley Tech Giants“I know what is needed. And what is needed is less rhetoric, more understanding and more dialogue. That’s always the way we have to proceed,” the governor explained. Brown noted that possible new cooperation between Russia and California’s companies would be disclosed at the upcoming Fort Ross Dialogue. “We look forward to that and we will be discussing some of these things at the Fort Ross Dialogue, and I am looking forward to that expanding now this year and in the years to come as a basis of focusing Russia and US relations in the Pacific and the West, where there is a lot of opportunity,” he stressed. Relations between the United States and … [Read more...] about Cal Governor Sees Silicon Valley as Possible Venue for Closer US, Russia Ties
Silicon Valley startup Juul Labs Inc. will begin selling its e-cigarettes in the U.K. this week seeking to replicate its runaway U.S. success -- though with a smaller nicotine hit.A Juul starter kit -- including the device, a battery charger and four liquid pods -- will be available to buy online and in 250 vape stores in the U.K. this week. The company is funding international expansion with a capital increase that’s expected to reach $1.2 billion, which would value the startup at $15 billion.“There are 7.5 million adult smokers in the U.K. and they aren’t well served by the e-cigarettes that are out there,” Juul U.K. managing director Dan Thomson said Monday in an interview. “This is a huge opportunity for us.”Juul has grabbed 68 percent of the U.S. e-cigarette market in just three years, according to the Nielsen research firm. The device’s rapid rise has convinced some investors that big tobacco is increasingly vulnerable as smokers ditch … [Read more...] about $15 Billion Silicon Valley Upstart Takes on Big Tobacco in U.K.
With its colourful hammocks and table tennis table, a new tech hub in the Lagos metropolis wouldn't look out of place among the start-ups on the other side of the world in Silicon Valley. But the NG_Hub office is in the suburb of Yaba -- the heart of Nigeria's burgeoning tech scene that is attracting interest from global giants keen to tap into an emerging market of young, connected Africans. In May, both Google and Facebook launched initiatives nearby. This week, Nigeria's Vice-President Yemi Osinbajo was in California to court US tech investors for what he said could herald a "fourth industrial revolution" back home. But it isn't just Nigeria that is piquing the interest of tech giants. Last month, Google said it would open Africa's first artificial intelligence lab in Ghana's capital, Accra. Demographics are a key factor behind the drive: Africa's population is estimated to be 1.2 billion, 60 percent of them under 24. By 2050, the UN estimates the population will double to 2.4 … [Read more...] about Silicon Valley eyes Africa as new tech frontier
Picture: AFP San Francisco. While the Trump administration is putting tariffs on Chinese imports, another battle has been brewing about whether the United States should block Chinese investments in some U.S. companies that work in artificial intelligence (AI), robotics and other key technology, Voice of America writes. Some of these technologies have U.S. national security implications, argues the Department of Defense in a report on growing Chinese ties to U.S. firms. Lawmakers in Washington are considering expanding a Treasury Department review process that looks at investments from foreign entities. “I assure you that the threat China poses is real and that the dangers we worry about are already taking effect,” said Sen. John Cornyn, a Texan Republican, who is sponsoring the Foreign Investment Risk Review Modernization Act, the bill that would strengthen the review. “Our inaction can only have negative consequences, and we need to aim to prevent any future … [Read more...] about VOA: Some in Washington Wary as Silicon Valley Welcomes Chinese Investments