Chinese e-commerce giant Alibaba said it would set aside 100 billion yuan ($15.5 billion) for investments aimed at promoting social equality in China, in a move that is in line with President Xi Jinping’s push for “common prosperity.” The amount is significant. Alibaba’s annual net profit for the last fiscal year though March was 150 billion yuan. As Chinese internet giants grapple with...
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The Weekend Crypto Venture Capital
The La La Land Life of Venture Capitalist Brianne Kimmel
Hi, welcome to your Weekend! It’s peak out-of-office message season in Silicon Valley, and not just because of the Fourth of July weekend. Tech layoffs are popping off everywhere. Venture dealflow has slowed to a crawl. The economic headwinds are fierce and giving certain people super bad feelings. Plus, after two-plus years of pandemic-driven insanity, the people of tech may...
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