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Chinese Regulators Suspend Antitrust Probe of Tencent Music

Chinese regulators have suspended an antitrust probe of China’s largest streaming service, Tencent Music, after a yearlong investigation, Bloomberg reported, citing people familiar with the matter. That’s good news for Tencent Music as the results of the investigation could have threatened its position as the master license holder for most foreign music. Bloomberg previously  reported on the...

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Modest Proposals COVID-19
Technology’s Role in Shaping the Impact of Covid-19

Three weeks ago I wrote a column about how the Covid-19 crisis was likely to affect the future of tech companies and technology policy. Since then, I have spent more time considering the inverse question: How is the state of technology in 2020 playing a role in shaping our experience of, and response to, the Covid-19 pandemic?

Put differently, had the current Covid-19 incident occurred a few ...

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Layoffs Accelerate Across Silicon Valley Startups
As the world braces for a recession triggered by the coronavirus outbreak, venture capital–backed startups across several industries are making significant cuts to their employee numbers.
Exclusive COVID-19 Travel
Airbnb to Halt All Marketing, Most Hiring as Losses Mount
Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries to conserve cash amid a slide in bookings, CEO Brian Chesky told employees in a video conference call Thursday, a person familiar with the matter said.
Exclusive Startups Travel
VC-Backed Sonder Cuts One-Third of Staff as Travel Plummets
Sonder, a venture capital-backed operator of apartment-based lodgings for tourists and business travelers, laid off or furloughed more than 400 people, about one-third of its staff, in a bid to offset a declining number of bookings as the travel market collapses.
Exclusive Venture Capital Startups
Lime’s Valuation May Fall 80% in Emergency Fundraising
Scooter rental startup Lime, one of the hottest startups in tech two years ago, is trying to raise emergency funds at a valuation slashed by 80% from last year, two people familiar with the matter said.
Exclusive COVID-19 E-commerce
Amazon, Walmart Suspend Marketing Deals With Digital Media Firms
Publishers are bracing for a pullback in advertising amid the Covid-19 pandemic. And one big shoe has already dropped: Amazon and Walmart have temporarily suspended commerce marketing deals with digital media firms such as BuzzFeed, two people familiar with the situation said.