IT IS A bit like covering the world’s most powerful financial institutions without ever setting foot in New York. For eight years I have written about the technology industry from London—first as an intern at The Economist, then as a tech correspondent at Quartz and eventually, in my spare time, as news editor back at The Economist. Yet I did so without ever having visited Silicon Valley, the stretch of land between San Francisco and San Jose that forms the spiritual and economic home of all things tech. In part, this was made possible by the industry’s very nature: distributed, connected and mobile. It is possible to interview Satya Nadella in Paris, pose questions to Eric Schmidt in New Delhi and listen to Mark Zuckerberg in Barcelona. New giants emerge from Beijing, unlikely business models from Mumbai and startups from Nairobi. But Silicon Valley has long been the star around which everything else revolves. Get our daily newsletter Upgrade your inbox and get our … [Read more...] about Silicon Valley: Geography is destiny
Silicon valley saison 3
IF YOU WANT to go unicorn spotting, take a turn around the brand-new park on top of San Francisco’s Transbay bus terminal. This is not because it is perched on a spectacular, undulating building that itself looks quite like a mythical beast (Moby-Dick, in this case) nor because its tastefully planted flora, all native to flower-power California, offer a particularly enticing equine habitat. It is just that, as a would-be icon of San Francisco’s business district, the park is conveniently placed for looking out on their corporate headquarters. There are 88 privately held startups worth more than $1bn each in the San Francisco Bay Area, more than in any other region in the world, and a fair few of them, including Slack, a corporate messaging service, and Instacart, a delivery firm, are hard by the Transbay terminal. You can’t quite see the headquarters of Lyft and Uber, two ride-hailing services, from its leafy roof, but were you to climb the swanky Millennium Tower … [Read more...] about The wave of unicorn IPOs reveals Silicon Valley’s groupthink
News / UK and world by Press Association April 12, 2019, 7:56 am Send us a story Sign up to our Daily newsletter Transport company National Express has picked up a 60% stake in Silicon Valley bus shuttle firm WeDriveU for 84.3 million US dollars (£64.5 million). WeDriveU transports almost seven million passengers a year and provides employee shuttle services to many of the largest Fortune 500 companies based in Silicon Valley and San Francisco. Last year it generated annual revenues of 139.9 million US dollars (£107 million), earnings of 21.1 million US dollars (£16.1 million) and operating profit of 15.4 million US dollars (£11.8 million). National Express has the option to acquire remaining shares in tranches over the next three years. Dean Finch, chief executive at National Express, said: “As the premier operator in Silicon Valley and the wider San Francisco Bay Area, WeDriveU provides the opportunity for expansion into a … [Read more...] about National Express pulls up in Silicon Valley
According to Zhu Min, the desire of Americans to squeeze Huawei out of the market, as well as new legislative initiatives to control investments in the technology sector, will reduce to zero the presence of Chinese venture capital in the United States. READ MORE: Cal Governor Sees Silicon Valley as Possible Venue for Closer US, Russia Ties In recent years, the United States has become a point of attraction for Chinese investment. The fastest growing investments were in high-tech sectors like IT, robotics, biotechnology, electronics, aviation, and automotive engineering. According to the Rhodium Group, China's venture capital investments in the US technology sector grew from $376 million in 2013 to $3.1 billion in 2018. The largest Chinese technology companies created research laboratories in the United States. Thus, several years ago, Baidu opened a research centre … [Read more...] about Silicon Valley to Be Left Without Chinese Money?
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