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By Erich Schwartzel WSJ Alexandra Berzon WSJ Laura Stevens WSJ Sun., Feb. 10, 2019 One Saturday night last September, a crowd of celebrities, Silicon Valley titans and Hollywood executives gathered at television producer Mark Burnett’s Malibu mansion for a birthday party celebrating venture capitalist Vivi Nevo. The richest of them all was Amazon.com Inc. founder Jeff Bezos, whose stake in Amazon is worth about $125 billion. He sat in the middle of the action and appeared to relish the spotlight, said a guest who knows Mr. Bezos. A flashy party is not the place many would have expected to find the billionaire, who until recently had usually taken pains to depict himself as an ordinary, even shy, family man. Some people walking by seemed surprised to see him in such a setting. “I just went, ‘Wow,’ ” the guest said. For more than two decades, Mr. Bezos had built a public persona of a low-key billionaire who did the dishes … [Read more...] about Jeff Bezos’s Journey From Private Family Man to Tabloid Sensation
Indian venture capitalists
Indian tech startups raised a record $10.5 billion in 2018, but concerns remain
India’s tech startups closed 2018 on a record high note, securing several major deals to further cement the nation’s position on the world map. But despite an influx of money from international investors, the local ecosystem’s overall health has some concerned. The year saw a high-profile acquisition, the emergence of new unicorns, and more startups than ever expanding their businesses internationally. These local players were joined by Silicon Valley companies hoping to turn India into their next big market. India’s startups participated in 924 rounds to secure a record $10.5 billion in funding last year, slightly ahead of the $10.4 billion they raised (through 1,141 rounds) in 2017, and a major rebound from the alarming down cycle of 2016, when they raised just $4.3 billion, according to data from Tracxn, a firm that tracks startup funding. Going global The funding rounds gained momentum in the second half of the year, giving India two new unicorns … [Read more...] about Indian tech startups raised a record $10.5 billion in 2018, but concerns remain
SoftBank finds limits to its love for WeWork as investors push back
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By Liz Hoffman Eliot Brown The Wall Street Journal Maureen Farrell Wed., Dec. 19, 2018 Key investors in SoftBank Group Corp.’s giant tech fund have balked at a planned $16 billion (U.S.) investment in co-working startup WeWork Cos., leaving SoftBank chief Masayoshi Son to find an alternative as his ambitions hit up against the limits of his financial firepower. Government-backed funds in Saudi Arabia and Abu Dhabi, according to people familiar with the matter, have told SoftBank executives they have concerns about SoftBank’s negotiations to buy a majority of money-losing WeWork, whose industrial-chic workspaces and short-term leases have made it one of the world’s hottest startups. SoftBank’s Vision Fund is already a major investor in WeWork after acquiring nearly a fifth of the company last year with an investment of $4.4 billion at a valuation of $20 billion. SoftBank subsequently committed another $4 billion, including a $3 billion … [Read more...] about SoftBank finds limits to its love for WeWork as investors push back
The Long Tail
In 1988, a British mountain climber named Joe Simpson wrote a book called Touching the Void, a harrowing account of near death in the Peruvian Andes. It got good reviews but, only a modest success, it was soon forgotten. Then, a decade later, a strange thing happened. Jon Krakauer wrote Into Thin Air, another book about a mountain-climbing tragedy, which became a publishing sensation. Suddenly Touching the Void started to sell again. Random House rushed out a new edition to keep up with demand. Booksellers began to promote it next to their Into Thin Air displays, and sales rose further. A revised paperback edition, which came out in January, spent 14 weeks on the New York Times bestseller list. That same month, IFC Films released a docudrama of the story to critical acclaim. Now Touching the Void outsells Into Thin Air more than two to one. What happened? In short, Amazon.com recommendations. The online bookseller's software noted patterns in buying behavior and suggested that readers … [Read more...] about The Long Tail
Actress Priyanka Chopra is a tech investor, too
By Erin Griffith Published 7:47 pm PDT, Saturday, October 6, 2018 Anjula Acharia, Priyanka Chopra’s manager, is an entrepreneur and former partner in Menlo Park’s Trinity Ventures. She introduced Chopra to the idea of investing in tech companies. Anjula Acharia, Priyanka Chopra’s manager, is an entrepreneur and former partner in Menlo Park’s Trinity Ventures. She introduced Chopra to the idea of investing in tech companies. Photo: Emily Berl / New York Times 2014 Photo: Emily Berl / New York Times 2014 Image 1 of / 1 Caption Close Image 1 of 1 Anjula Acharia, Priyanka Chopra’s manager, is an entrepreneur and former partner in Menlo Park’s Trinity Ventures. She introduced Chopra to the idea of investing in tech companies. Anjula Acharia, Priyanka Chopra’s manager, is an … [Read more...] about Actress Priyanka Chopra is a tech investor, too