Basecamp, the maker of the eponymous productivity software, has instituted a new policy forbidding “societal and political discussions” among employees. It’s also ending “paternalistic benefits” such as a fitness stipend in exchange for cash payouts and a plan to share 10% of the company’s profits with its workforce. In a blog post , founder and CEO Jason Fried said that the benefits were...
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FTC’s Khan Accuses Big Tech of Promoting Fraud, Targets S. 230
Lina Khan ratcheted up the rhetoric against big tech on Wednesday, accusing digital platforms owned by “some of the world’s largest companies” of promoting fraud. Gee, who could the FTC chair be talking about? What she said next should make it clear, if there was any doubt: “Business models singularly focused on scale and engagement coupled with microtargeting have allowed these platforms to...
Didi Considers Going Private to Appease Beijing, Compensate Investors
SoftBank Selling $2.1 Billion of Uber Stake
China Seeks to Calm Investors After Policy Triggers Market Rout
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Sequoia Capital vs. Hillhouse: Inside China’s Fiercest Investor Rivalry
Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor Neil Shen, pledged to invest $400 million in a new funding round for Full Truck Alliance, China’s “Uber for trucks.” Days later, Zhang Lei, the rival head of private-equity giant Hillhouse Capital Group, flew to Nanjing, met Full Truck’s CEO over dinner and arranged a $110 million investment in the same round, according to a person familiar with the matter.