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Zuckerberg Endorses Global Tax on Tech Giants

Facebook CEO Mark Zuckerberg has endorsed a global tax plan proposed by the Organization for Economic Cooperation and Development. The OECD’s plan would change how multinational companies are taxed by having them pay more in countries where they have a significant number of customers, rather than where they develop products or merely have local operations. For Facebook, with over 2 billion users...

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COVID-19 Amazon
Amazon Struggles in India as Lockdown Sows Confusion

When U.S. cities began telling people to shelter in place, it propelled a huge surge in demand for deliveries from But when India’s prime minister late last month ordered the country of more than 1.3 billion people to stay home for three weeks, Amazon’s India operations spiraled into chaos.

In some areas, local police began beating people they found on the streets, ...

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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.