In today’s top news, Chinese tech investments in the U.S. have plummeted in recent years, and ransomware cyberattacks have skyrocketed. Also, Karen Webster compares Uber’s path over the last 10 years to Amazon’s and discusses what we can learn from their similarities.
Chinese investors’ interest in Silicon Valley is waning. Investments by Baidu, Alibaba and Tencent peaked in 2015 at $4.7 billion, and have dropped 84 percent since 2018, down to less than $560 million.
Ransomware cyberattacks are up 41 percent from last year, taking down computer networks across businesses, hospital and governments. In the fourth quarter of 2019, companies paid on average $84,116 to get their files back from online thieves.
Uber reported earnings last week and analysts liked what they saw, but it hasn’t always been such a love fest. In fact, Karen Webster said, Uber at 10 is treated by analysts very much like Amazon was at 10. Then, analysts reported that startups like Overstock and SmartBargains were grabbing their share. Now, Amazon is a trillion-dollar ecosystem, and Uber is a last-mile logistics platform that Webster said may be traveling that same path.
For about 75 years, since first releasing aluminum foil to the masses, Reynolds has been the driving force in the home goods aisle of the grocery store. But times are changing, and Reynolds is hitting a reset with the digital age — and building to bring in a new generation of consumers, CEO and President Lance Mitchell explained to Karen Webster.
The Peoples’ Bank of China will release a set of funds earmarked for activities and production related to fighting the coronavirus. The loans will soon be offered on a weekly basis.
The costs resulting from bitcoin- and cryptocurrency-related crimes hit $4.3 billion in 2019, much larger than the $3 billion incurred in 2017 and 2018 combined. A total of 90 percent of the stolen funds came from just six successful schemes.
India has levied a new tax on eCommerce companies and platforms. Here’s how the ripple effects of the 1 percent “tax deducted at source” may impact giants like Amazon and smaller merchants, some of them with thin margins.